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Voya Financial

DB:V0Y
Snowflake Description

Undervalued with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
V0Y
DB
$7B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Voya Financial, Inc. operates as a retirement, investment, and employee benefits company in the United States. The last earnings update was 65 days ago. More info.


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V0Y Share Price and Events
7 Day Returns
0.9%
DB:V0Y
5%
DE Diversified Financial
2.8%
DE Market
1 Year Returns
14%
DB:V0Y
1.4%
DE Diversified Financial
3%
DE Market
V0Y Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Voya Financial (V0Y) 0.9% -3% -6.8% 14% 69.8% 72.6%
DE Diversified Financial 5% 7.8% -5% 1.4% 75.8% 333.7%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • V0Y outperformed the Diversified Financial industry which returned 1.4% over the past year.
  • V0Y outperformed the Market in Germany which returned 3% over the past year.
Price Volatility
V0Y
Industry
5yr Volatility vs Market

Value

 Is Voya Financial undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Voya Financial to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Voya Financial.

DB:V0Y Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 8 analysts.
= Stable Book Value * Return on Equity
= $72.36 * 11.7%
$8.46
Book Value of Equity per Share Weighted future Book Value estimates from 5 analysts. $72.36
Discount Rate (Cost of Equity) See below 7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:V0Y
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Diversified Financial Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.72 (1 + (1- 21%) (87.25%))
1.144
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.144 * 5.96%)
7.05%

Discounted Cash Flow Calculation for DB:V0Y using Excess Returns Model Model

The calculations below outline how an intrinsic value for Voya Financial is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:V0Y Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (11.7% – 7.05%) * $72.36)
$3.36
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $3.36 / (7.05% - 0.23%)
$49.28
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $72.36 + $49.28
$121.64
DB:V0Y Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:V0Y represents 0.88475x of NYSE:VOYA
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88475x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 121.64 x 0.88475
€107.62
Value per share (EUR) From above. €107.62
Current discount Discount to share price of €46.60
= -1 x (€46.60 - €107.62) / €107.62
56.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Voya Financial is available for.
Intrinsic value
>50%
Share price is €46.6 vs Future cash flow value of €107.62
Current Discount Checks
For Voya Financial to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Voya Financial's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Voya Financial's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Voya Financial's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Voya Financial's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:V0Y PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $4.20
NYSE:VOYA Share Price ** NYSE (2019-10-11) in USD $52.67
Germany Diversified Financial Industry PE Ratio Median Figure of 6 Publicly-Listed Diversified Financial Companies 27.82x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Voya Financial.

DB:V0Y PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:VOYA Share Price ÷ EPS (both in USD)

= 52.67 ÷ 4.20

12.53x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Voya Financial is good value based on earnings compared to the DE Diversified Financial industry average.
  • Voya Financial is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Voya Financial's expected growth come at a high price?
Raw Data
DB:V0Y PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.53x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
10.1%per year
Europe Diversified Financial Industry PEG Ratio Median Figure of 13 Publicly-Listed Diversified Financial Companies 1.81x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

DB:V0Y PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.53x ÷ 10.1%

1.25x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Voya Financial is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Voya Financial's assets?
Raw Data
DB:V0Y PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $71.72
NYSE:VOYA Share Price * NYSE (2019-10-11) in USD $52.67
Germany Diversified Financial Industry PB Ratio Median Figure of 9 Publicly-Listed Diversified Financial Companies 3.77x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:V0Y PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:VOYA Share Price ÷ Book Value per Share (both in USD)

= 52.67 ÷ 71.72

0.73x

* Primary Listing of Voya Financial.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Voya Financial is good value based on assets compared to the DE Diversified Financial industry average.
X
Value checks
We assess Voya Financial's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Diversified Financial industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Diversified Financial industry average (and greater than 0)? (1 check)
  5. Voya Financial has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Voya Financial expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Voya Financial expected to grow at an attractive rate?
  • Voya Financial's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Voya Financial's earnings growth is positive but not above the Germany market average.
  • Voya Financial's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:V0Y Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:V0Y Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 10.1%
DB:V0Y Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 0.9%
Germany Diversified Financial Industry Earnings Growth Rate Market Cap Weighted Average 17.3%
Europe Diversified Financial Industry Revenue Growth Rate Market Cap Weighted Average 0.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:V0Y Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:V0Y Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 8,642 790 5
2020-12-31 8,514 736 5
2019-12-31 8,310 641 5
2019-10-13
DB:V0Y Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 8,977 1,363 635
2019-03-31 8,744 1,598 544
2018-12-31 8,514 1,868 418
2018-09-30 8,518 2,090 -252
2018-06-30 8,450 2,080 -379
2018-03-31 8,528 2,032 -414
2017-12-31 8,618 1,582 -412
2017-09-30 6,986 2,234 42
2017-06-30 7,331 2,484 -221
2017-03-31 7,836 2,885 -163
2016-12-31 8,788 3,692 10
2016-09-30 10,210 3,042 -2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Voya Financial's earnings are expected to grow by 10.1% yearly, however this is not considered high growth (20% yearly).
  • Voya Financial's revenue is expected to grow by 0.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:V0Y Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Voya Financial Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:V0Y Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 6.58 8.27 5.55 3.00
2020-12-31 5.55 5.88 5.02 4.00
2019-12-31 4.80 5.89 4.06 4.00
2019-10-13
DB:V0Y Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 4.20
2019-03-31 3.47
2018-12-31 2.56
2018-09-30 -1.49
2018-06-30 -2.17
2018-03-31 -2.31
2017-12-31 -2.24
2017-09-30 0.22
2017-06-30 -1.15
2017-03-31 -0.83
2016-12-31 0.05
2016-09-30 -0.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Voya Financial is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Voya Financial's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Voya Financial has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Voya Financial performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Voya Financial's growth in the last year to its industry (Diversified Financial).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Voya Financial's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Voya Financial has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Voya Financial has become profitable in the last year making it difficult to compare the Europe Diversified Financial industry average.
Earnings and Revenue History
Voya Financial's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Voya Financial Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:V0Y Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 8,977.00 635.00 2,541.00
2019-03-31 8,744.00 544.00 2,547.00
2018-12-31 8,514.00 418.00 2,612.00
2018-09-30 8,518.00 -252.00 2,679.00
2018-06-30 8,450.00 -379.00 2,650.00
2018-03-31 8,528.00 -414.00 2,597.00
2017-12-31 8,618.00 -412.00 2,572.00
2017-09-30 6,986.20 42.00 2,396.30
2017-06-30 7,330.70 -221.10 2,487.00
2017-03-31 7,835.70 -162.60 2,556.80
2016-12-31 8,788.00 10.00 2,621.00
2016-09-30 10,209.80 -1.80 2,854.90
2016-06-30 11,366.70 286.60 2,888.00
2016-03-31 11,681.10 410.30 2,981.40
2015-12-31 8,743.00 262.00 2,684.00
2015-09-30 11,810.90 1,893.90 3,461.80
2015-06-30 11,328.10 2,259.40 3,501.30
2015-03-31 11,011.60 2,222.50 3,514.40
2014-12-31 10,994.10 2,295.00 3,462.20
2014-09-30 10,924.60 1,464.30 2,709.70
2014-06-30 10,096.40 1,405.10 2,705.20
2014-03-31 9,606.20 1,074.60 2,717.10
2013-12-31 8,753.00 598.50 2,686.70
2013-09-30 8,609.40 29.70 3,116.20
2013-06-30 8,799.30 49.60 3,212.30
2013-03-31 9,957.50 766.20 3,154.70
2012-12-31 9,728.70 473.00 3,155.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Voya Financial has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Voya Financial used its assets less efficiently than the DE Diversified Financial industry average last year based on Return on Assets.
  • Voya Financial has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Voya Financial's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Diversified Financial industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Voya Financial has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Voya Financial's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Voya Financial's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Voya Financial is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Voya Financial's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Voya Financial's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Voya Financial Company Filings, last reported 3 months ago.

DB:V0Y Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 10,739.00 6,418.00 1,926.00
2019-03-31 9,806.00 6,340.00 1,666.00
2018-12-31 8,941.00 6,191.00 2,177.00
2018-09-30 9,200.00 6,693.00 2,176.00
2018-06-30 9,242.00 6,511.00 1,908.00
2018-03-31 10,409.00 6,419.00 1,978.00
2017-12-31 11,039.00 6,936.00 2,079.00
2017-09-30 14,611.30 8,944.10 3,503.40
2017-06-30 14,292.00 7,657.20 3,977.70
2017-03-31 13,877.70 7,600.80 3,767.00
2016-12-31 13,968.00 7,164.00 3,174.00
2016-09-30 16,155.40 9,219.80 6,511.20
2016-06-30 16,365.60 9,692.40 7,707.20
2016-03-31 15,702.40 9,188.30 6,179.30
2015-12-31 16,275.80 12,816.70 5,606.10
2015-09-30 17,248.60 14,228.10 6,262.60
2015-06-30 17,548.90 12,783.60 4,988.10
2015-03-31 18,666.70 12,559.50 5,422.20
2014-12-31 18,561.50 12,477.30 6,177.70
2014-09-30 17,144.20 11,421.00 4,438.70
2014-06-30 17,263.30 10,888.70 5,382.40
2014-03-31 16,368.00 10,293.20 4,881.20
2013-12-31 15,514.00 9,805.40 5,511.60
2013-09-30 14,864.50 8,718.30 5,467.40
2013-06-30 14,647.10 8,756.20 5,804.70
2013-03-31 15,598.90 9,558.90 8,723.20
2012-12-31 16,061.20 9,863.30 10,415.30
  • Voya Financial's level of debt (59.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (63.1% vs 59.8% today).
  • Debt is well covered by operating cash flow (21.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.1x coverage).
X
Financial health checks
We assess Voya Financial's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Voya Financial has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Voya Financial's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.14%
Current annual income from Voya Financial dividends. Estimated to be 1.05% next year.
If you bought €2,000 of Voya Financial shares you are expected to receive €23 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Voya Financial's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Voya Financial's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:V0Y Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
Europe Diversified Financial Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:V0Y Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.68 8.00
2020-12-31 0.65 10.00
2019-12-31 0.34 10.00
2019-10-13
DB:V0Y Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-08-01 0.600 1.162
2019-05-02 0.040 0.073
2019-01-31 0.040 0.079
2018-10-25 0.040 0.093
2018-07-26 0.040 0.081
2018-04-25 0.040 0.079
2018-02-01 0.040 0.078
2017-10-26 0.040 0.086
2017-07-27 0.040 0.103
2017-04-28 0.040 0.109
2017-02-02 0.040 0.102
2016-10-27 0.040 0.106
2016-07-28 0.040 0.139
2016-04-27 0.040 0.141
2016-02-04 0.040 0.133
2015-10-29 0.040 0.111
2015-07-30 0.040 0.096
2015-04-30 0.040 0.087
2015-02-05 0.040 0.092
2014-10-30 0.040 0.098
2014-07-31 0.040 0.105
2014-05-29 0.040 0.110
2014-02-06 0.040 0.112
2013-10-31 0.040 0.116
2013-07-25 0.040 0.132

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Voya Financial has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Voya Financial only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Voya Financial's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (105.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (9.8x coverage).
X
Income/ dividend checks
We assess Voya Financial's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Voya Financial afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Voya Financial has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Voya Financial's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Rod Martin
COMPENSATION $11,337,911
AGE 67
TENURE AS CEO 8.5 years
CEO Bio

Mr. Rodney Owen Martin, Jr., also known as Rod, has been the Chief Executive of Voya Financial, Inc. (formerly, ING U.S., Inc) since April 2011 and its Chairman since May 2013. Mr. Martin joined Voya Financial, Inc. in 2011 and is responsible for the overall strategy and performance of the ING Insurance. He is Chief Executive Officer at Voya Holdings Inc. He began his insurance career in 1975 as an Agent with Connecticut Mutual Life Insurance Company, where he served from February 1975 to August 1995, in various marketing and general management positions, ultimately becoming President of Connecticut Mutual Insurance Services. In 1995, he joined American General Life Companies as President and Chief Executive Officer, where he ran the U.S. life insurance businesses until it was acquired by American International Group, Inc. in 2001. He served as the President and Chief Executive Officer of American General Life Insurance Company of New York from 1996 to 1999. He served as the Chief Executive Officer of American Life Insurance Company. He served as the President and Managing Director of Nan Shan Life Insurance Company, Ltd. since 1975. He served as the Chief Executive Officer and President of AIG American General, Inc. of American International Group Inc. since January 1, 2004 and its Executive Vice President of Life Insurance since 2002. He served as the Chairman and Chief Executive Officer of AIA Company Limited since April 2009. He served as the Chairman and Chief Executive Officer of American International Assurance Company, Limited since April 2009 and served as its Co-Chief Operating Officer from 2002 to 2003. He served as the Chairman, Chief Executive Officer and President of AGC Life Insurance Company. Mr. Martin served as the Chief operating Officer of AIG's worldwide Life Insurance Business since January 2006. He served as the Chairman and Chief Executive Officer of Delaware American Life Insurance Company. He serves as Chairman of the Board of Security Life of Denver Insurance Company. He serves as the Chairman of ING Life Insurance and Annuity Company. He serves as the Chairman of ING USA Annuity and Life Insurance Company. He served as the Chairman of International Life and Retirement Services at American International Group Inc. since March 2009 until November 2010. He served as the Chairman of American General Life Companies since 1998 and its Senior Chairman since 1999. He served as the Senior Chairman of American General Life Insurance Company of New York since 1999. He served as the Chairman of AIG American General, Inc. of American International Group Inc. He served as an Honorary Chairman of AIA and Non-Executive Chairman of the Philippine American Life and General Insurance Company (Philamlife). He served as the Chairman of AIG Star Life Insurance Co., Ltd., AIG Edison Life Insurance Company and Nan Shan Life Insurance Company, Ltd., since March 25, 2009. He was Chairman of Voya Insurance and Annuity Company until 2018. He served as the Chairman of American Life Insurance Company since 2006. He served as the Chairman of American International Life Assurance Company of New York. He served as a Senior Vice Chairman of Financial Services of AIG American General, Inc., since 2000. He served as Vice Chairman and Group Executive of Life Insurance at AIG American General, Inc. from 1998 to 2000. He has been a Director of Voya Financial, Inc. since April 2011. He serves as a Director at Security Life of Denver Insurance Company, ING Life Insurance and Annuity Company and ING USA Annuity and Life Insurance Company. He served as a Director of American General Life Companies and American Life Insurance Company. He served as a Director of AIA Company Limited since April 2009. Mr. Martin serves as a Director of American Council of Life Insurers. He served as a Director of LIMRA. He served as the first Chinese executive to be elected to the Insurance Hall of Fame, the most prestigious award in the insurance industry. He is also a Fellow of Life Underwriter Training Council. Mr. Martin holds a Bachelor's Degree in Business Administration from Alfred University in Alfred, N.Y.

CEO Compensation
  • Rod's compensation has increased in line with Voya Financial recently becoming profitable.
  • Rod's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Voya Financial management team in years:

3.1
Average Tenure
55.5
Average Age
  • The tenure for the Voya Financial management team is about average.
Management Team

Rod Martin

TITLE
Chairman & CEO
COMPENSATION
$11M
AGE
67
TENURE
8.5 yrs

Mike Smith

TITLE
Executive VP
COMPENSATION
$4M
AGE
56
TENURE
2.9 yrs

Trish Walsh

TITLE
Executive VP & Chief Legal Officer
COMPENSATION
$3M
AGE
53
TENURE
4.1 yrs

Charlie Nelson

TITLE
Chief Executive Officer of Retirement & Employee Benefits
COMPENSATION
$5M
AGE
58
TENURE
4.4 yrs

Christine Hurtsellers

TITLE
Chief Executive Officer of Investment Management Business
COMPENSATION
$6M
AGE
55
TENURE
3.1 yrs

Nan Ferrara

TITLE
Executive Vice President of Operations & Continuous Improvement
AGE
54

Clyde Cobb

TITLE
Senior MD
AGE
48
TENURE
3.9 yrs

Santhosh Keshavan

TITLE
Chief Information Officer
TENURE
2.1 yrs

Maggie Parent

TITLE
Executive VP & Chief Administrative Officer
AGE
57
TENURE
1.8 yrs

Michael Katz

TITLE
Senior VP & Head of Investor Relations and Enterprise FP&A
TENURE
1.8 yrs
Board of Directors Tenure

Average tenure and age of the Voya Financial board of directors in years:

4.8
Average Tenure
64.5
Average Age
  • The tenure for the Voya Financial board of directors is about average.
Board of Directors

Rod Martin

TITLE
Chairman & CEO
COMPENSATION
$11M
AGE
67
TENURE
6.4 yrs

John Griswell

TITLE
Director
COMPENSATION
$318K
AGE
70
TENURE
6.4 yrs

Jane Chwick

TITLE
Director
COMPENSATION
$305K
AGE
56
TENURE
5.4 yrs

Lynne Biggar

TITLE
Director
COMPENSATION
$295K
AGE
56
TENURE
5 yrs

Ruth Ann Gillis

TITLE
Director
COMPENSATION
$298K
AGE
64
TENURE
4.3 yrs

Byron Pollitt

TITLE
Director
COMPENSATION
$311K
AGE
68
TENURE
4.3 yrs

David Zwiener

TITLE
Lead Director
COMPENSATION
$325K
AGE
65
TENURE
2.3 yrs

Joe Tripodi

TITLE
Director
COMPENSATION
$300K
AGE
63
TENURE
4.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Voya Financial individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
13. Aug 19 Buy Byron Pollitt Individual 09. Aug 19 12. Aug 19 1,000 €44.54 €43,923
05. Jun 19 Sell Patricia Walsh Individual 04. Jun 19 04. Jun 19 -1,870 €47.77 €-89,331
03. Jun 19 Buy Byron Pollitt Individual 31. May 19 31. May 19 1,000 €46.22 €45,981
28. Feb 19 Sell Patricia Walsh Individual 28. Feb 19 28. Feb 19 -6,062 €44.53 €-269,945
01. Mar 19 Buy Ruth Ann Gillis Individual 01. Mar 19 01. Mar 19 926 €44.47 €41,178
26. Feb 19 Sell Kevin Silva Individual 22. Feb 19 22. Feb 19 -892 €44.13 €-39,364
13. Feb 19 Buy Joseph Tripodi Individual 13. Feb 19 13. Feb 19 1,500 €43.80 €65,704
X
Management checks
We assess Voya Financial's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Voya Financial has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Voya Financial, Inc. operates as a retirement, investment, and employee benefits company in the United States. It operates through four segments: Retirement, Investment Management, Employee Benefits, and Individual Life. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services; and individual retirement accounts, and other retail financial products and financial services, as well as financial planning and advisory services. This segment serves corporate, education, healthcare, and other non-profit and government entities, as well as institutional and individual customers. The Investment Management segment provides fixed income, equity, multi-asset, and alternative products and solutions to individual investors and institutional clients through its direct sales force, consultant channel, banks, broker-dealers, and independent financial advisers. The Employee Benefits segment offers stop loss, group life, voluntary employee-paid, and disability products through consultants, brokers, third-party administrators, enrollment firms, and technology partners to mid-sized and large businesses. The Individual Life segment provides wealth protection and transfer opportunities through universal, variable, and term life products. Voya Financial, Inc. has a collaboration agreement with Wellthy to provide solutions for caregivers in the workplace. The company was formerly known as ING U.S., Inc. and changed its name to Voya Financial, Inc. in April 2014. Voya Financial, Inc. was incorporated in 1999 and is based in New York, New York.

Details
Name: Voya Financial, Inc.
V0Y
Exchange: DB
Founded: 1999
$6,657,287,501
139,664,302
Website: http://www.voya.com
Address: Voya Financial, Inc.
230 Park Avenue,
New York,
New York, 10169,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE VOYA Common Stock New York Stock Exchange US USD 02. May 2013
DB V0Y Common Stock Deutsche Boerse AG DE EUR 02. May 2013
NYSE VOYA.PRB 5.35% DP PFD B New York Stock Exchange US USD 12. Jun 2019
Number of employees
Current staff
Staff numbers
6,000
Voya Financial employees.
Industry
Other Diversified Financial Services
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 22:49
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/10/11
Last earnings filing: 2019/08/09
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.