Voya Financial (VOYA) Operating Expenses (2012 - 2026)
Voya Financial (VOYA) posted Operating Expenses of $1.86 billion for Q2 2026, up 3.8% from $1.79 billion a year earlier and up 3.4% from the prior quarter.
Voya Financial (VOYA) Operating Expenses (2012 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at Voya Financial was $7.43 billion, up 1.5% year-over-year; for FY2025, it came in at $7.35 billion, up 1.4% from FY2024.
- Annual Operating Expenses has increased for four consecutive years, with a five-year compound annual growth rate of 0.2% (FY2020 to FY2025).
- In prior years, Voya Financial's Operating Expenses was $7.25 billion in FY2024 (+8.7%), $6.67 billion in FY2023 (+21.2%), $5.5 billion in FY2022 (+112.8%) and $2.59 billion in FY2021 (-64.6%).
- Quarterly Operating Expenses has run from a low of $636 million in Q4 2021 to a high of $1.94 billion in Q4 2025 over five years.
- On a year-over-year basis, Operating Expenses has increased in each of the last three quarters, with growth averaging 3.9% over the last eight quarters.
- The strongest year-over-year quarter for Operating Expenses in the past five years was Q4 2022, with growth of 131.4%; the weakest was Q4 2021, with a decline of 63.2%.
- According to Business Quant data, Operating Expenses for the three prior quarters was $1.8 billion (Q1 2026), $1.94 billion (Q4 2025) and $1.82 billion (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 176.32 Bn | 122.67 Bn | - | 4.62 Bn |
| 2 | Spdr Gold Trust | 129.90 Bn | -428.11 Bn | - | 149.76 Mn |
| 3 | Blackstone | 89.36 Bn | 84.29 Bn | - | 2.38 Bn |
| 4 | Brookfield | 86.01 Bn | -97.08 Bn | - | 14.94 Bn |
| 5 | Kkr | 83.57 Bn | 50.05 Bn | - | 5.41 Bn |
| 6 | Brookfield Asset Management | 76.11 Bn | 72.36 Bn | - | 659.00 Mn |
| 7 | Apollo Global Management | 66.07 Bn | 3.75 Bn | 10.56 Bn | 8.74 Bn |
| 8 | Wheaton Precious Metals | 56.02 Bn | 51.45 Bn | 687.86 Mn | 133.83 Mn |
| 9 | Franco Nevada | 44.70 Bn | 42.06 Bn | 451.00 Mn | 5.30 Mn |
| 10 | Voya Financial | 8.92 Bn | 8.49 Bn | 1.34 Bn | 1.86 Bn |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.86 Bn |
| Mar 31, 2026 | 1.80 Bn |
| Dec 31, 2025 | 1.94 Bn |
| Sep 30, 2025 | 1.82 Bn |
| Jun 30, 2025 | 1.79 Bn |
| Mar 31, 2025 | 1.80 Bn |
| Dec 31, 2024 | 1.89 Bn |
| Sep 30, 2024 | 1.84 Bn |
| Jun 30, 2024 | 1.76 Bn |
| Mar 31, 2024 | 1.76 Bn |
| Dec 31, 2023 | 1.72 Bn |
| Sep 30, 2023 | 1.65 Bn |
| Jun 30, 2023 | 1.61 Bn |
| Mar 31, 2023 | 1.69 Bn |
| Dec 31, 2022 | 1.47 Bn |
| Sep 30, 2022 | 1.27 Bn |
| Jun 30, 2022 | 1.37 Bn |
| Mar 31, 2022 | 1.38 Bn |
| Dec 31, 2021 | 636.00 Mn |
| Sep 30, 2021 | 1.60 Bn |
Voya Financial Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=VOYA&period=max&api_key=YOUR_API_KEY
import requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "VOYA", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()
const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=VOYA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();