Equitable Holdings

AXJ.DE

Asset Management · Financial Services

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

Dividends

Good

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Winston Score History

The full picture

Equitable Holdings is a financial services company based in the United States. It sells life insurance, annuities, and retirement savings products to individuals and employer groups. The company also runs a wealth management business through its majority stake in AllianceBernstein, a large global investment manager.

Equitable makes money by collecting insurance premiums, charging fees on assets it manages for clients, and earning investment income on the money it holds. It operates mainly in the United States and oversees hundreds of billions of dollars in client assets, giving it meaningful scale in the retirement and protection markets. The key growth driver is the aging U.S. population, which is increasing demand for retirement income products like annuities, but the business is sensitive to interest rate swings and equity market performance, both of which can significantly affect its profitability and the negative operating margin seen today.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+12.7% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-30.2% YoY

YoY Growth Rate

Earnings declining

Insider Activity

0.7%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€286.3B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Equitable Holdings is a rare growth stock that's already generating positive cash flow while growing at 13%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

84.2%

Premium pricing power — 84.2% gross margin

Profit after running costs

Operating Margin

-18.5%

Losing money on operations — -18.5%

Return on the money invested

ROCE

-16.1%

Weak — -16.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-14.9%

Shrinking sales (-14.9% YoY)

Profit growth

EPS YoY

-396.3%

Earnings shrinking (-396.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

10.7%

Modest free cash flow (10.7%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

2.48%

no trend

Moderate income — 2.48% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+3.1%

no trend

Dividend growing modestly (3.1% YoY)

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