HTH vs VOYA: Hilltop and Voya Financial compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Voya Financial is the larger company, worth $8.9B, about 4.1 times Hilltop.
- Hilltop grew revenue faster over the last year (+4.1% vs -4.3%).
- On earnings, Hilltop is the cheaper stock (13.5x vs 14.8x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | HTH | VOYA |
|---|---|---|
| Market cap | $2.2B | $8.9B |
| Share price | $36.38 | $96.77 |
| Revenue (last fiscal year) | $1.3B | $8.2B |
| Free cash flow (last fiscal year) | -$56M | — |
| Revenue growth, last year | +4.1% | -4.3% |
| Revenue growth per year, last 5 fiscal years | -8.6% | +18.4% |
| Operating margin | — | 9.1% |
| Net margin | 12.7% | 7.5% |
| Return on equity | 7.6% | 13.0% |
| P/E (trailing) | 13.5x | 14.8x |
| Price / free cash flow | — | 6.88x |
| EV / EBITDA | 14.0x | — |
| FCF growth the price implies | — | — |
| Dividend yield | 2.0% | 1.9% |
| Debt / equity | 6.51x | 37.6x |
| Fundamental grade | D | D |
| Superinvestors holding it | 3 | 6 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Hilltop
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.8B | $741M | — |
| 2022 | $1.3B | $1.2B | — |
| 2023 | $1.2B | $435M | — |
| 2024 | $1.2B | $267M | — |
| 2025 | $1.3B | -$56M | — |
Voya Financial
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $4.2B | — | 73.9% |
| 2022 | $5.9B | — | 7.2% |
| 2023 | $7.3B | — | 12.5% |
| 2024 | $8.1B | — | 10.8% |
| 2025 | $8.2B | — | 12.7% |
Where the revenue comes from
Hilltop
No segment breakdown reported.
Voya Financial · by segments, 2023
Employee Benefits$3.1B45%
Wealth Solutions$2.8B41%
Investment Management$916M13%
Corporate$48M1%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open HTH in InvestinglyQuestions
Which is bigger, Hilltop or Voya Financial?
Voya Financial (VOYA), at $8.9B against $2.2B.
Is HTH or VOYA cheaper?
By trailing P/E, Hilltop (13.5x) is cheaper than Voya Financial (14.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, HTH or VOYA?
Hilltop: revenue grew +4.1% over the last year, against -4.3%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.