BHFAL
Brighthouse Financial, Inc.
Next earnings Aug 5, 2026 (after close) · consensus $4.80 EPS, $2.22B rev
Last earnings +0.1% on 2026-05-06
$15.69
▼ -0.38%$15.69▼ -14.63%
over 1Y
L $15.62EODHDH $18.39
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-0.4%
1W-0.1%
1M-2.6%
3M-2.7%
YTD-3.5%
1Y-14.6%
Hold
Conviction
Horizon
Short (<3mo)
Street · 15 analysts
Hold
Pending Aquarian take-private dominates the story — fundamentals are secondary to merger close mechanics on these junior subordinated notes.
The read
Middling fundamentals offset by an attractive price (~1259% below fair value) — worth a look on the value angle.
BHFAL is Brighthouse Financial's junior subordinated debt-linked listed security, and the 10-K makes clear the entire investment case now hinges on the November 6, 2025 Merger Agreement with Aquarian Parent. Stockholders approved on February 12, 2026, HSR expired, and the deal is 'expected to close in 2026' — but it still needs insurance-regulator approvals in Delaware, New York and Massachusetts plus FINRA Rule 1017 sign-off on Brighthouse Securities. Until those clear, the price reflects deal-close probability more than operating fundamentals, and the filing itself warns the stock 'may reflect a market assumption that the Merger will be completed' and would decline if it breaks.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $4.98B | $6.87B | $4.12B | $4.72B | $6.77B |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $1.64B | $3.88B | -$1.11B | $388M | $433M |
| Diluted EPS | $18.39 | $51.30 | -$18.39 | $4.64 | $5.71 |
| Net margin | 33.0% | 56.4% | -27.0% | 8.2% | 6.4% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)0.24
Earnings yield48.3%
FCF yield—
Quality & risk
ROIC (est.)—
Free cash flow—
Total debt$3.15B
Net cash$2.23B
Piotroski F-Score6/7
Capital returns
Buyback yield11.4%
Dividend yield (est.)0.0%
Shareholder yield11.4%
Shares Δ YoY-1.5%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Shareholder vote2026-06-03
Annual meeting vote results disclosed; routine governance items
- 10-Q Quarterly report2026-05-07
Q1 2026 10-Q filed; operations continue under merger conduct restrictions
- 8-K Earnings results2026-05-06
Q1 2026 earnings release issued ahead of pending Aquarian merger close
- DEF 14A Proxy statement2026-04-14
2026 proxy issued; governance disclosures alongside pending merger close
- 10-K Annual report2026-02-24
FY25 10-K: revenue $6.77B (+43%), equity +37%; merger pending in 2026
- 8-K Earnings results2026-02-23
Q4/FY25 earnings: net income +12%, diluted EPS $5.71 (+23%)
- 8-K Shareholder vote2026-02-12
Stockholders approved Aquarian merger agreement at special meeting
- 8-K Earnings results2025-11-07
Q3 2025 10-Q filed; first quarterly disclosure under Aquarian deal
- 10-Q Quarterly report2025-11-07
Q3 2025 10-Q filed; first quarterly disclosure under Aquarian deal
Recent filings
all on EDGAR ↗4Period ending 2026-06-022026-06-04open ↗4Period ending 2026-06-022026-06-04open ↗4Period ending 2026-06-022026-06-04open ↗4Period ending 2026-06-022026-06-04open ↗4Period ending 2026-06-022026-06-04open ↗4Period ending 2026-06-022026-06-04open ↗4Period ending 2026-06-022026-06-04open ↗4Period ending 2026-06-022026-06-04open ↗8-KPeriod ending 2026-06-032026-06-03open ↗10-QPeriod ending 2026-03-312026-05-07open ↗8-KPeriod ending 2026-05-062026-05-06open ↗4Period ending 2026-05-012026-05-05open ↗
Frequently asked
- Is Brighthouse Financial, Inc. (BHFAL) a buy?
- BHFAL currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Pending Aquarian take-private dominates the story — fundamentals are secondary to merger close mechanics on these junior subordinated notes.
- What is BHFAL's fair value?
- A Modified-Graham model based on BHFAL's SEC fundamentals estimates a fair value of about $213.27. It is an estimate from reported earnings, not a price target.
- Is BHFAL overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, BHFAL currently appears undervalued relative to its SEC-grounded earnings power.
- What is Brighthouse Financial, Inc.'s quality score?
- BHFAL scores 76.85294117647058/100 (grade B+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001685040, latest 10-Q filed 2026-05-07) · EODHD · analysis by claude-code · as of 6/25/2026, 1:34:52 PM.
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