Equitable Holdings earnings and buyback draw investor focus

Equitable Holdings (EQH) is back in the spotlight after its second quarter 2026 earnings report showed weaker quarterly results alongside improved six month figures, paired with the completion of a multi billion dollar share repurchase program.

At a share price of US$51.52, Equitable Holdings has seen strong recent momentum, with a 30 day share price return of 9.62% and a 90 day share price return of 26.9%, while the 3 year total shareholder return of 97.33% contrasts with a flat 1 year total shareholder return.

If this earnings driven move has you looking beyond Equitable Holdings, it could be a good moment to broaden your search and uncover 19 top founder-led companies

After this sharp run and a completed multi billion dollar buyback, the key tension for Equitable Holdings is clear: Has most of the upside already played out, or does the current valuation still leave meaningful room ahead?

Most Popular Narrative: 16% Undervalued

At a last close of $51.52 versus a narrative fair value of $61.00, Equitable Holdings is framed as undervalued, with that gap hinging on strong retirement and spread income assumptions.

Demographic trends, particularly the steady increase in the U.S. aging population and rising retirement needs, are driving sustained organic demand for annuity and retirement solutions. This is evidenced by record AUM ($1.1b, up 8% YoY) and robust net inflows across Retirement and Wealth Management segments. This is likely to translate into higher future revenue, ongoing client asset growth, and enhanced fee based income.

Want to see what sits behind that retirement growth story and valuation gap? The narrative stacks revenue, margin and share count assumptions into one tight model. The key inputs may surprise you.

Result: Fair Value of $61.00 (UNDERVALUED)

However, investors also need to weigh that Equitable Holdings currently reports a loss of US$982.0 million and faces competition and regulatory risk around its retirement and reinsurance models.

Another View on Equitable Holdings Valuation

The fair value narrative for Equitable Holdings points to a US$61.00 anchor, with analysts using earnings, revenue growth and discounting assumptions. Our DCF model tells a very different story. It indicates Equitable Holdings is trading far above an estimated future cash flow value of US$3.84, which frames the stock as expensive rather than cheap on this metric.

That split between earnings based fair value and cash flow based value raises a practical question for you as an investor. Which set of assumptions feels more realistic for how Equitable Holdings can convert future accounting profits into hard cash?

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Equitable Holdings for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 52 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.

Next Steps

After weighing both the enthusiasm and the caution around Equitable Holdings, it may be useful to review the underlying numbers yourself and act promptly while the information is current. To see how the potential upside and downside compare in one place, take a closer look at the 2 key rewards and 2 important warning signs.

Looking for more investment ideas beyond Equitable Holdings?

If you want a broader view than Equitable Holdings alone, use the Simply Wall St Screener to compare different angles on quality, value and risk across the market.

• Target potential mispriced opportunities before they are widely talked about by scanning screener containing 21 high quality undiscovered gems that combine strong fundamentals with quieter market attention.
• Build a steadier core to your portfolio by reviewing 83 resilient stocks with low risk scores that score well on resilience and financial strength.
• Sharpen your focus on robust balance sheets by checking solid balance sheet and fundamentals stocks screener (48 results) and see which companies pair financial stability with solid fundamentals.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.