4 models fit Voya Financial Inc. Common Stock and they partly agree: 3 of 4 land within 15% of the average.
Two or more of our models back this value.
Near fair value(i)Silver73
Valued as a mature, profitable company: Discounted cash flow, P/E comparison, EV/EBITDA comparison, Graham number, and Dividend discount.
ACCE opinionVoya Financial Inc. Common Stock (VOYA)
Fair value (4 models)
$109
ACCE price target
$105
Rating
Fairly valued
Horizon
12 months
Fair value published on 16 Oct 2026, 00:00 CEST; previously $105 since 11 Oct 2026, 00:00 CEST.
ACCE price target published on 10 Oct 2026, 00:00 CEST.
Price used: $95.81 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow, Dividend discount, EV/EBITDA comparison, Graham number, and P/E comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
12.0% below
+13.7% to fair value
ACCE score
60
out of 100
Analysts
58% buy
12 covering
P/E
16.1x
forward 8.5x
1-year return
+31.1%
Dividend yield
1.91%
Voya Financial Inc. Common Stock in four questions
Plain answers, details below
Free accounts get 5 full stock pages a month, including the four answers.
Overview
ACCE thesis
Voya Financial runs a retirement and workplace benefits franchise alongside investment management and individual life and annuity products, which makes it a fee-driven business sitting on top of a large insurance balance sheet. The competitive case rests on its position in employer-sponsored retirement plans, a sticky, recurring revenue base that is hard for a new entrant to displace quickly. Revenue fell 4.3% over the period in the data, so the top line is the immediate problem, and the 5.4% operating margin shows how little of that revenue currently reaches operating profit. The stock trades at 16.0 times trailing earnings but only 8.7 times forward, a gap that tells you the market expects earnings to recover faster than sales, and that bet needs checking before anything else. With an 9.6% return on equity and no index membership at an 8.6 billion dollar market cap, this is a name worth a deeper look on whether the margin recovery is real and whether the fee base is stabilising.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
high
Earnings collapsing year over year
Earnings are down 41.6% YoY while revenue fell 4.3%, so margins are compressing sharply. The ACCE score also dropped 15 points over 90 days, from 73 to 58.
moderate
Revenue shrinking, flat long term
Revenue fell 4.3% YoY and 3.8% QoQ, and the 5-year revenue CAGR is only +0.3%. Growth is not a current support for the valuation.
moderate
Elevated short interest
Short interest sits at 4.8% of float while insiders disclosed $1.00M in sales and no buys over the last ten filings.
AI research notes
AI-assisted·How I use AIWritten Oct 19, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Free cash flow over the last twelve months reached $1.3B, and the free cash flow yield stands at 15.1%.
The forward P/E of 8.3x sits well below the sector median forward P/E of 11.8x, so the shares look cheap against peers.
The diluted share count fell 4.3% last fiscal year, and the dividend yield is 2.0%, so per-share ownership is growing.
Why it could disappoint
Revenue fell 4.3% year over year, well below the five-year average growth of 0.3% per year.
Return on equity of 9.6% and return on invested capital of 7.6% are modest for a company of this kind.
Voya missed earnings expectations last quarter, with earnings per share of 1.51 against 1.88 expected, a 19.7% shortfall.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 2, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
Walk me through this stock
Plain-English pros, cons, and what to watch. Pro feature.
PRO
Ask ACCE
Valuation
INVESTOR
Where VOYA's valuation models land
Price
$95.81
Model fair value
$109
Model range
$90.78 to $123
Fair value $109
Price $95.81
The price sits inside the model range.
Model
Fair value
Upside
Discounted cash flow
Dividend discount
EV/EBITDA comparison
Graham number
P/E comparison
Create a free account: 5 full stock pages a month, no card.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
+A plain reason under every score
+Conviction breakdown and growth / value / quality / momentum scores