EQH
Equitable Holdings, Inc.
EQH's fundamentals are strong: its operating margin went from −2.8% to 16% and it returned to profit. At 11x earnings, it's trading above its usual 9.7x. Analysts expect strong earnings growth.
EQH Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
EQH's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like EQH.
EQH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 4.3x | $22.16 | -60% |
| Forward | 6.5x | $55.63 | — |
| Fair | 9.7x | $50.28 | -9.6% |
| Current | 11x | $55.63 | — |
| Expensive | 17x | $87.41 | +57% |
Historical ranges are pointers, not guarantees.
EQH's PE is in its fair range at 11x. If earnings grow as analysts expect, today's price would be 6.5x next year's earnings, in its cheap range.
EQH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect EQH's earnings to grow and its profitability to improve, with its revenue holding steady.
EQH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.49 | +63% |
| Q3 2026 | $5.20 | +$8.00 |
| Q2 2026 | -$3.32 | -377% |
| Q1 2026 | -$2.85 | -178% |
| Q4 2025 | -$4.83 | -228% |
| Q3 2025 | -$2.80 | -$1.81 |
| Q2 2025 | $1.20 | -52% |
| Q1 2025 | $3.64 | +9.3% |
| Q4 2024 | $3.78 | +8.6% |
EQH has returned to profit: it earned $5.20 per share over the past year, after losing money the year before.
EQH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.9B | +168% |
| Q2 2026 | $1.7B | -30% |
| Q1 2026 | $4.2B | -7.6% |
| Q4 2025 | $3.3B | -9.5% |
| Q3 2025 | $1.5B | -53% |
| Q2 2025 | $2.4B | -33% |
| Q1 2025 | $4.6B | +105% |
| Q4 2024 | $3.6B | +67% |
EQH's revenue is recovering but still below its 2020 peak: $3.9B last quarter, up 168% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 36% | +129 points |
| Q2 2026 | -30% | -14 points |
| Q1 2026 | 21% | +17 points |
| Q4 2025 | 11% | -23 points |
| Q3 2025 | -93% | -93 points |
| Q2 2025 | -15% | -35 points |
| Q1 2025 | 3.8% | -7.3 points |
| Q4 2024 | 33% | +71 points |
EQH's operating margin was 36% last quarter, up 129 points from the same quarter a year ago.
EQH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.6B | +342% |
| Q2 2026 | $643M | +89% |
| Q1 2026 | $499M | +216% |
| Q4 2025 | -$154M | -139% |
| Q3 2025 | $369M | -46% |
| Q2 2025 | $341M | -62% |
| Q1 2025 | $158M | +410% |
| Q4 2024 | $400M | +$792M |
EQH's free cash flow was $2.6B over the past year, up 107% from the year before. Free cash flow isn't a meaningful measure for financial services companies like EQH.
EQH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.8% | -4.9M shares |
| 1 year | -7.7% | -22.8M shares |
| 3 years | -21% | -74.6M shares |
| 5 years | -34% | -141M shares |
| Available history | -45% | -220M shares |
EQH has 273M diluted shares, down 7.7% from a year ago, with $1B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $238M |
| Q2 2026 | $366M |
| Q1 2026 | $147M |
| Q4 2025 | $277M |
| Q3 2025 | $676M |
| Q2 2025 | $235M |
| Q1 2025 | $262M |
| Q4 2024 | $260M |
EQH spent $1B buying back its own shares over the past year, down 28% from the year before.
EQH Net Leverage
EQH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.6 | Neutral |
| Stochastic | 74.5 | Neutral |
EQH's weekly RSI is 66 (neutral) and its Stochastic is 75 (neutral).
EQH PE vs Financial Services Sector
| Metric | EQH | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 18% below |
| PE % | 57 | 63 | 6 pts below |
EQH is trading at 11x earnings, a 18% discount to the Financial Services sector's median of 13x.
EQH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $53.4 | 4.1% above |
| 20 week MA | $51.4 | 8.1% above |
| 50 week MA | $46.4 | 20% above |
| 100 week MA | $48.8 | 14% above |
| 200 week MA | $41.4 | 34% above |
EQH is in an uptrend: it's above all five of its weekly moving averages, and 34% above its 200-week average.
EQH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $24.6 | $25.1 | +2% |
| 2021 | $25.1 | $33.0 | +31% |
| 2022 | $33.0 | $28.6 | -13% |
| 2023 | $28.6 | $33.3 | +16% |
| 2024 | $33.3 | $47.5 | +43% |
| 2025 | $47.5 | $48.6 | +2.3% |
| 2026 YTD | $48.6 | $55.6 | +15% |
EQH has finished higher in five of the last six years. It's up 15% so far in 2026.