Growth Metrics

Voya Financial (VOYA) Operating Expenses (2012 - 2026)

Voya Financial posted quarterly Operating Expenses of $848.0 million for Q1 2026, down 52.78% year-on-year from $1.8 billion in Q1 2025, and down 82.49% on a QoQ basis from $4.8 billion in Q4 2025.

Voya Financial (VOYA) has 15 years of Operating Expenses data on file, last reported at $848.0 million in Q1 2026.

  • For the quarter ending Q1 2026, Operating Expenses fell 52.78% year-over-year to $848.0 million; the trailing twelve-month figure through Mar 2026 stood at $9.3 billion (up 83.01% YoY), and the FY2025 full-year result was $7.4 billion, up 138.55% from the prior year.
  • Operating Expenses for Q1 2026 stood at $848.0 million, down from $4.8 billion in the prior quarter.
  • Across five years, Operating Expenses topped out at $4.8 billion in Q4 2025 and bottomed at $605.0 million in Q2 2022.
  • The 5-year median for Operating Expenses is $1.4 billion (2022), against an average of $1.4 billion.
  • The widest annual swing landed in 2025, when Operating Expenses surged 540.48%; it then plunged 52.78% in 2026.
  • A 5-year view of Operating Expenses shows it stood at $1.5 billion in 2022, then sank by 47.49% to $773.0 million in 2023, then declined by 2.2% to $756.0 million in 2024, then soared by 540.48% to $4.8 billion in 2025, then plunged by 82.49% to $848.0 million in 2026.
  • The last three Operating Expenses figures came in at $848.0 million (Q1 2026), $4.8 billion (Q4 2025), and $1.8 billion (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Freedom Holding 8.88 Bn 8.01 Bn 603.27 Mn 534.68 Mn
2 Voya Financial 7.67 Bn 9.49 Bn 1.47 Bn 848.00 Mn
3 Hilltop Holdings 2.21 Bn 2.24 Bn -2.46 Mn 248.30 Mn
4 LendingTree 507.89 Mn 422.38 Mn 88.70 Mn 296.15 Mn
5 BRC Group Holdings 323.63 Mn 380.44 Mn 319.70 Mn 199.13 Mn
6 Orix - - 5.07 Bn 5.31 Bn

Historic Data

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DateValue
Mar 31, 2026 848.00 Mn
Dec 31, 2025 4.84 Bn
Sep 30, 2025 1.82 Bn
Jun 30, 2025 1.79 Bn
Mar 31, 2025 1.80 Bn
Dec 31, 2024 756.00 Mn
Sep 30, 2024 775.00 Mn
Jun 30, 2024 1.76 Bn
Mar 31, 2024 1.76 Bn
Dec 31, 2023 773.00 Mn
Sep 30, 2023 717.00 Mn
Jun 30, 2023 1.61 Bn
Mar 31, 2023 836.00 Mn
Dec 31, 2022 1.47 Bn
Sep 30, 2022 632.00 Mn
Jun 30, 2022 605.00 Mn
Mar 31, 2022 1.38 Bn
Dec 31, 2021 2.51 Bn
Sep 30, 2021 642.00 Mn
Jun 30, 2021 706.00 Mn
Mar 31, 2021 -3.00 Bn
Dec 31, 2020 1.73 Bn
Sep 30, 2020 2.22 Bn
Jun 30, 2020 1.71 Bn
Mar 31, 2020 640.00 Mn
Dec 31, 2019 1.73 Bn
Sep 30, 2019 1.73 Bn
Jun 30, 2019 668.00 Mn
Mar 31, 2019 1.73 Bn
Dec 31, 2018 1.73 Bn
Sep 30, 2018 1.66 Bn
Jun 30, 2018 1.60 Bn
Mar 31, 2018 1.65 Bn
Dec 31, 2017 1.97 Bn
Sep 30, 2017 2.14 Bn
Jun 30, 2017 2.04 Bn
Mar 31, 2017 1.94 Bn
Dec 31, 2016 2.22 Bn
Sep 30, 2016 723.60 Mn
Jun 30, 2016 2.12 Bn
Mar 31, 2016 2.23 Bn
Dec 31, 2015 2.22 Bn
Sep 30, 2015 3.62 Bn
Jun 30, 2015 2.48 Bn
Mar 31, 2015 2.34 Bn
Dec 31, 2014 3.00 Bn
Sep 30, 2014 2.64 Bn
Jun 30, 2014 2.28 Bn
Mar 31, 2014 2.37 Bn
Dec 31, 2013 1.74 Bn
Sep 30, 2013 2.02 Bn
Jun 30, 2013 2.22 Bn
Mar 31, 2013 2.03 Bn
Dec 31, 2012 2.31 Bn
Sep 30, 2012 2.19 Bn
Jun 30, 2012 2.51 Bn
Mar 31, 2012 2.00 Bn