IX vs VOYA: Orix Corp Ads 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.
- Orix Corp Ads is the larger company, worth $39.8B, about 4.5 times Voya Financial.
- Orix Corp Ads grew revenue faster over the last year (+11.2% vs -4.3%).
- Orix Corp Ads keeps more of each dollar of revenue as operating profit (30.3% vs 9.1%).
- On earnings, Orix Corp Ads is the cheaper stock (14.4x 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 | IX | VOYA |
|---|---|---|
| Market cap | $39.8B | $8.9B |
| Share price | $36.95 | $96.77 |
| Revenue (last fiscal year) | $1.50T | $8.2B |
| Free cash flow (last fiscal year) | — | — |
| Revenue growth, last year | +11.2% | -4.3% |
| Revenue growth per year, last 5 fiscal years | +4.8% | +18.4% |
| Operating margin | 30.3% | 9.1% |
| Net margin | 29.7% | 7.5% |
| Return on equity | 11.3% | 13.0% |
| P/E (trailing) | 14.4x | 14.8x |
| Price / free cash flow | 0.03x | 6.88x |
| EV / EBITDA | — | — |
| FCF growth the price implies | — | — |
| Dividend yield | 2.8% | 1.9% |
| Debt / equity | 3.12x | 37.6x |
| Fundamental grade | B | D |
| Superinvestors holding it | 2 | 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.
Orix Corp Ads
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $1.25T | — | 23.5% |
| 2023 | $1.30T | — | 25.8% |
| 2024 | $1.30T | — | 27.7% |
| 2025 | $1.35T | — | 24.5% |
| 2026 | $1.50T | — | 30.3% |
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
Orix Corp Ads · by segments, 2026
Real Estate$450.5B30%
PE Investment and Concession$388.0B26%
ORIX Europe$273.9B18%
Environment and Energy$172.4B11%
Corporate Financial Services and Maintenance Leasing$115.9B8%
ORIX USA$49.7B3%
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 IX in InvestinglyQuestions
Which is bigger, Orix Corp Ads or Voya Financial?
Orix Corp Ads (IX), at $39.8B against $8.9B.
Is IX or VOYA cheaper?
By trailing P/E, Orix Corp Ads (14.4x) is cheaper than Voya Financial (14.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, IX or VOYA?
Orix Corp Ads: revenue grew +11.2% 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.