How Voya Financial's (VOYA) Strong Q3 Results and Buybacks Are Shaping Its Investment Narrative

• Voya Financial reported third-quarter 2025 earnings results, highlighting revenue of US$2.13 billion and net income of US$192 million, both up year-over-year, along with the completion of a US$100 million share buyback tranche between July and September.
• While net income improved for the quarter, total net income for the first nine months of 2025 was lower than the prior year, reflecting mixed performance over the year-to-date period.
• We'll explore how Voya's robust third-quarter earnings and active share repurchase program shape its evolving investment narrative.

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Voya Financial Investment Narrative Recap

To be a shareholder in Voya Financial today, you’d need conviction in the company’s ability to grow workplace benefits and savings alongside continued digital investments, and belief that it can sustain margins despite industry fee pressures. The latest third-quarter earnings, with improved revenue and net income, help shore up confidence in near-term performance, but with year-to-date net income still lagging prior-year levels, the impact on the most important catalyst, consistent earnings growth, remains modest. The major risk, ongoing fee compression and mounting cost pressures in group benefits, continues to warrant close attention as it could temper potential upside from any near-term momentum.

Among recent developments, Voya’s US$100 million share buyback between July and September stands out, reinforcing the company’s commitment to returning capital to shareholders even during a year of mixed profitability. While this action may support shareholder value, investors watching for sustainable earnings improvement will likely focus on whether core business drivers can offset margin risks.

Yet, beneath Voya’s strong Q3, investors should still be cautious of intensifying fee compression...

Read the full narrative on Voya Financial (it's free!)

Voya Financial's outlook anticipates $8.4 billion in revenue and $1.0 billion in earnings by 2028. This reflects a 1.8% annual revenue growth rate and an increase in earnings of approximately $508 million from current earnings of $492 million.

Uncover how Voya Financial's forecasts yield a $85.40 fair value, a 24% upside to its current price.

Exploring Other Perspectives

Two members of the Simply Wall St Community valued Voya Financial between US$85.40 and US$93.92. While the company’s earnings rebound sparks optimism, the ongoing risk of industry-wide fee compression remains a key challenge that can influence future performance. Explore more perspectives from investors with a wide range of views.

Explore 2 other fair value estimates on Voya Financial - why the stock might be worth as much as 37% more than the current price!

Build Your Own Voya Financial Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Voya Financial research is our analysis highlighting 5 key rewards and 1 important warning sign that could impact your investment decision.
• Our free Voya Financial research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Voya Financial's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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