VOYA Spending and interest coverage

Voya Financial, Inc. (VOYA) Spending and interest coverage

R&D / revenue · 12 months: Value (m); Formula and calculation Research and development expense / revenue. Period ending 2025-12-31..
Stock-based compensation / revenue · 12 months: Value 3.19%; Formula and calculation Share-based compensation / revenue. Period ending 2025-12-31..
Interest coverage · 12 months: Value (m); Formula and calculation Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified..

Spending and interest coverage

Financial period ending 2025-12-31; current quote (m). Amounts retain their stated periods and units.

Metric	Value	Formula and calculation
R&D / revenue · 12 months	(m)	Research and development expense / revenue. Period ending 2025-12-31. Calculation unavailable: missing inputs remain (m).
Stock-based compensation / revenue · 12 months	3.19%	Share-based compensation / revenue. Period ending 2025-12-31. $72.00M ÷ $2.25B × 100 ≈ 3.19%
Interest coverage · 12 months	(m)	Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified. Calculation unavailable: missing inputs remain (m).

Calculation inputs

Input	Amount with unit	Raw financial data
Research and development spending	(m)
Revenue	2.25B USD	Revenue from Contract with Customer, Excluding Assessed Tax
Stock-based compensation	72.00M USD	Share-based Payment Arrangement, Noncash Expense
Operating income	1.04B USD	Operating Income (Loss)
Interest expense · reported / estimated	(m)	Interest Expense · Estimated expense assumptions

Latest interest expense basis: (m). Estimated values carry *; expand each history row’s basis for its dated balances and rate assumptions.

Calculated history

Changes compare with the next older row (previous quarter), unless explicitly labeled otherwise. Rolling 12-month growth compares two successive quarter-end rolling totals; it is not year-over-year growth.

Period ending	Research and development spending (USD)	Revenue (USD)	Stock-based compensation (USD)	Operating income (USD)	Interest expense · reported / estimated (USD)	R&D / revenue	SBC / revenue	Interest coverage	Interest expense basis
2025-12-31	(m)	$2.25B	$72.00M	$1.04B	(m)	(m)	3.19%	(m)	(m)
2024-12-31	(m)	$2.15B	$96.00M	(m)	(m)	(m)	4.47%	(m)	(m)
2023-12-31	(m)	$1.94B	$126.00M	(m)	(m)	(m)	6.50%	(m)	(m)
2022-12-31	(m)	$1.69B	$90.00M	(m)	(m)	(m)	5.32%	(m)	(m)
2021-12-31	(m)	$1.59B	$88.00M	(m)	(m)	(m)	5.52%	(m)	(m)
2020-12-31	(m)	$1.35B	$88.00M	(m)	(m)	(m)	6.51%	(m)	(m)
2019-12-31	(m)	$1.42B	$98.00M	(m)	$176.00M	(m)	6.89%	(m)	Reported
2019-09-30	(m)	(m)	(m)	(m)	$214.00M	(m)	(m)	(m)	Reported
2019-06-30	(m)	(m)	(m)	(m)	$210.00M	(m)	(m)	(m)	Reported
2019-03-31	(m)	(m)	(m)	(m)	$214.00M	(m)	(m)	(m)	Reported
2018-12-31	(m)	$8.51B	$96.00M	(m)	$221.00M	(m)	1.13%	(m)	Reported
2018-09-30	(m)	(m)	(m)	(m)	$186.00M	(m)	(m)	(m)	Reported
2018-06-30	(m)	(m)	(m)	(m)	$188.00M	(m)	(m)	(m)	Reported
2018-03-31	(m)	(m)	(m)	(m)	$187.00M	(m)	(m)	(m)	Reported
2017-12-31	(m)	(m)	$117.00M	(m)	$184.00M	(m)	(m)	(m)	Reported
2017-09-30	(m)	(m)	(m)	(m)	$184.90M	(m)	(m)	(m)	Reported
2017-06-30	(m)	(m)	(m)	(m)	$181.10M	(m)	(m)	(m)	Reported
2017-03-31	(m)	(m)	(m)	$121.60M	$286.20M	(m)	(m)	0.42×	Reported
2016-12-31	(m)	(m)	$94.10M	$114.50M	$288.00M	(m)	(m)	0.40×	Reported
2016-09-30	(m)	(m)	(m)	$222.20M	$288.90M	(m)	(m)	0.77×	Reported
2016-06-30	(m)	(m)	(m)	$220.10M	$289.90M	(m)	(m)	0.76×	Reported
2016-03-31	(m)	(m)	(m)	$234.30M	$196.80M	(m)	(m)	1.19×	Reported
2015-12-31	(m)	(m)	$74.00M	$255.60M	$196.50M	(m)	(m)	1.30×	Reported
2015-09-30	(m)	(m)	(m)	$271.20M	$197.80M	(m)	(m)	1.37×	Reported
2015-06-30	(m)	(m)	(m)	$289.10M	$198.60M	(m)	(m)	1.46×	Reported
2015-03-31	(m)	(m)	(m)	$303.50M	$189.50M	(m)	(m)	1.60×	Reported
2014-12-31	(m)	(m)	$92.60M	$313.40M	$189.70M	(m)	(m)	1.65×	Reported
2014-09-30	(m)	(m)	(m)	$335.30M	$190.50M	(m)	(m)	1.76×	Reported
2014-06-30	(m)	(m)	(m)	$360.80M	$191.70M	(m)	(m)	1.88×	Reported
2014-03-31	(m)	(m)	(m)	$350.50M	$188.00M	(m)	(m)	1.86×	Reported
2013-12-31	(m)	(m)	$80.00M	$358.00M	$184.80M	(m)	(m)	1.94×	Reported
2013-09-30	(m)	(m)	(m)	(m)	(m)	(m)	(m)	(m)	(m)
2013-06-30	(m)	(m)	(m)	(m)	(m)	(m)	(m)	(m)	(m)
2013-03-31	(m)	(m)	(m)	(m)	(m)	(m)	(m)	(m)	(m)
2012-12-31	(m)	(m)	$52.40M	$214.00M	$153.70M	(m)	(m)	1.39×	Reported
2012-09-30	(m)	(m)	(m)	(m)	(m)	(m)	(m)	(m)	(m)
2012-06-30	(m)	(m)	(m)	(m)	(m)	(m)	(m)	(m)	(m)
2012-03-31	(m)	(m)	(m)	(m)	(m)	(m)	(m)	(m)	(m)
2011-12-31	(m)	(m)	$60.50M	$212.00M	$139.30M	(m)	(m)	1.52×	Reported

(m) means missing inputs. Historical market-based ratios use the saved close on or immediately before period ending and that period’s reported shares; current quotes are not substituted. Five-year projections repeat historical CAGR, not analyst forecasts.

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