Voya Financial (VOYA) FY2022 results: revenue $5.9 billion, up 41.9% on the year

Voya Financial, Inc. (VOYA) reported revenue of $5.9 billion for fiscal 2022, the year ended 31 December 2022, up 41.9% on the year before. Net income was $510 million, down 78.5%, and diluted earnings per share $4.30. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2023.

Revenue

$5.9 billion

+41.9% on the year

FY2015FY2022

Operating margin

7.2%

73.9% a year earlier

FY2015FY2022

Net income

$510 million

-78.5% on the year

FY2015FY2022

Diluted EPS

$4.30

-76.8% on the year

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	5,922	4,174	7,649	+41.9%
Operating income	428	3,085	352	-86.1%
Operating margin	7.2%	73.9%	4.6%
Pre-tax income	428	3,085	352	-86.1%
Income tax	-5.0	-34.0	-18.0
Effective tax rate	-1.2%	-1.1%	-5.1%
Net income	510	2,370	-206	-78.5%
Net margin	8.6%	56.8%	-2.7%
Diluted EPS	$4.30	$18.56	-$1.84	-76.8%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	1,352	22.0	1,362	+6,045.5%
Cash from investing	-1,946	-327	-2,461
Cash from financing	28.0	-265	1,702
Share-based compensation	90.0	88.0	88.0	+2.3%
Buybacks	750	1,113	516	-32.6%
Dividends paid	83.0	36.0	36.0	+130.6%
Dividend per share	$0.80	$0.69	$0.60	+15.1%
Diluted shares, weighted	110m	126m	132m	-12.4%
Shares outstanding at period end	97m	108m	124m	-9.8%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	3,349	8,253	10,110	-59.4%
Non-controlling interest	1,482	1,568	1,068	-5.5%
Redeemable equity	166	0.0	n/a
Short-term borrowings	141	1.0	1.0	+14,000.0%
Debt	2,235	2,596	3,045	-13.9%
Other liabilities	139,233	158,844	166,294	-12.3%
Total liabilities and equity	146,606	171,262	180,518	-14.4%
Goodwill	327	72.0	48.0	+354.2%
Intangible assets	631	97.0	76.0	+550.5%
Securities held for sale or to maturity	n/a	33,699	43,569
Cash and equivalents	1,007	1,402	1,502	-28.2%
Other assets	144,641	135,992	135,323	+6.4%
Total assets	146,606	171,262	180,518	-14.4%

10-K for the year ended 31 December 2022, filed 24 February 2023: the filing.