Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Athene Holding Ltd. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
4,105
8,788
6,637
16,258
14,764
26,320
7,623
28,194
20,689
25,677
Pre-tax income
712
1,464
1,175
2,302
2,206
4,186
-5,662
4,591
5,634
5,107
Income tax
-61
106
122
117
285
386
-646
-1,161
730
886
Net income to minority interests
0
0
0
13
380
-59
-2,106
1,087
1,443
1,510
Net income
773
1,358
1,053
2,172
1,541
3,859
-2,910
4,665
3,461
2,711
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
2,516
4,997
3,405
4,240
7,704
9,479
7,779
13,020
14,259
16,895
Short-term investments
596
Goodwill
0
4,058
4,065
4,063
4,072
Intangible assets
1,716
1,641
Total assets
86,699
100,161
125,505
146,875
202,771
235,149
243,931
300,579
363,343
442,205
Short-term debt
475
0
Total liabilities
79,840
90,985
117,229
132,734
182,631
212,968
233,382
279,344
337,469
406,567
Total debt
992
1,976
2,964
3,658
4,209
6,309
7,848
Paid-in capital
3,421
3,472
3,462
4,171
6,613
6,667
18,119
19,499
19,588
19,238
Retained earnings
3,070
4,255
5,286
6,939
8,073
11,033
-3,640
-92
2,237
3,895
Other comprehensive income
366
1,449
-472
2,281
3,971
2,430
-7,321
-5,569
-5,465
-2,641
Shareholders' equity
6,858
9,208
8,276
13,391
18,657
20,130
7,158
13,838
16,360
20,492
Minority interests
1
0
0
750
1,483
2,051
3,391
7,397
9,514
15,146
Total equity
6,882
9,176
8,276
14,141
20,140
22,181
10,549
21,235
25,874
35,638
Total liabilities and equity
86,699
100,161
125,505
146,875
202,771
235,149
243,931
300,579
363,343
442,205
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
773
1,358
1,053
2,185
1,921
3,800
-5,016
5,752
4,904
4,221
Stock-based compensation
84
45
26
Deferred income tax
-28
101
44
64
178
-24
-1,019
-1,881
-245
Cash from operations
1,199
3,170
2,874
2,656
4,154
10,292
6,258
4,983
1,876
5,160
Purchases of investments
-15,435
-17,237
-23,404
-47,181
-36,684
-37,263
-80,212
-93,939
Sales and maturities of investments
6,886
7,911
17,116
9,421
6,464
21,689
36,337
Cash from investing
-2,661
-5,769
-8,173
-9,956
-14,817
-27,932
-34,375
-43,650
-61,918
-63,805
Debt issued
0
0
998
0
992
997
399
589
2,169
1,591
Debt repaid
-75
0
0
Stock issued
0
0
351
11
0
0
Share buybacks
-105
-832
-428
-8
0
0
Dividends paid
0
0
-1,313
-937
-452
-752
Cash from financing
1,155
5,048
3,707
8,537
14,489
19,629
26,472
44,767
59,425
61,276
Exchange rate effect
-13
32
0
0
-26
-2
-15
10
-3
5
Net change in cash
-320
2,481
-1,592
1,237
3,800
1,987
-1,660
6,110
-620
2,636
Interest paid
9
0
26
49
99
125
244
498
517
686
Income taxes paid
-31
-64
52
36
168
192
821
216
930
399
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $24.35 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Pre-tax margin
19.4%
Pre-tax income / revenue.
Net margin
2.9%
Net income / revenue.
Operating cash flow margin
21.8%
Cash from operations / revenue.
Effective tax rate
46.9%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
4.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
0.2%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
24.1%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
49.9%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
11.7%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y
-21.7%
Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y
12.0%
Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y
175.1%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y
-6.2%
Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y
4.4%
Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
25.3%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
42.0%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
1.9%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
21.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
21.9%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
16.9%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Debt / equity
0.42x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
1.7%
Total debt / total assets.
Liabilities / assets
92.6%
Total liabilities / total assets.
Net debt
-$15.88B
Total debt - cash - short-term investments. Negative means more cash than debt.
Dividends paid / net income, when net income is positive.
Valuation
Metric
Value
How it is calculated
Market cap
$4.96B
Share price x shares outstanding.
Enterprise value
-$10.92B
Market cap + total debt - cash - short-term investments.
P/E
5.96x
Market cap / net income. Only when net income is positive.
P/S
0.17x
Market cap / revenue.
P/B
0.27x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.34x
Market cap / tangible book value, when positive.
P/OCF
0.79x
Market cap / cash from operations, when positive.
Earnings yield
16.8%
Net income / market cap (the inverse of P/E).
Dividend yield
15.2%
Dividends paid over the period / market cap.
Shareholder yield
15.2%
(Dividends paid + share buybacks) / market cap.
What was Athene Holding Ltd.'s revenue in fiscal 2025?
Athene Holding Ltd. reported revenue of $25.68B for fiscal 2025, 24.1% higher than the year before.
Was Athene Holding Ltd. profitable in fiscal 2025?
Yes. Net income was $2.71B, a net margin of 10.6%.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.