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Side-by-side financial comparison of Brighthouse Financial, Inc. (BHF) and eHealth, Inc. (EHTH), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Brighthouse Financial, Inc. is the larger business by last-quarter revenue ($1.7B vs $326.2M, roughly 5.2× eHealth, Inc.). eHealth, Inc. runs the higher net margin — 8.1% vs 26.7%, a 18.6% gap on every dollar of revenue. On growth, Brighthouse Financial, Inc. posted the faster year-over-year revenue change (40.2% vs 3.5%). Over the past eight quarters, Brighthouse Financial, Inc.'s revenue compounded faster (377.7% CAGR vs 87.3%).
Brighthouse Financial是总部位于美国北卡罗来纳州夏洛特的保险公司，核心业务为销售年金和人寿保险产品。截至2018年3月，该公司是美国规模领先的年金和人寿保险提供商之一，总资产达2190亿美元，有效保单及年金合约数量约260万份。
eHealth, Inc.以eHealthInsurance品牌开展业务，是一家公开上市的健康保险在线交易平台，公司注册于特拉华州，总部位于加利福尼亚州圣克拉拉。该平台主要提供医疗保险相关计划，涵盖联邦医疗保险处方药计划、联邦医疗保险补充计划、优势计划等产品，同时也售卖个人健康保险产品，业务覆盖美国全部50个州及华盛顿特区。
BHF vs EHTH — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.7B | $326.2M |
| Net Profit | $137.0M | $87.2M |
| Gross Margin | — | 55.3% |
| Operating Margin | 8.9% | 38.7% |
| Net Margin | 8.1% | 26.7% |
| Revenue YoY | 40.2% | 3.5% |
| Net Profit YoY | -79.6% | -10.6% |
| EPS (diluted) | $1.84 | $2.43 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $1.7B | $326.2M | ||
| Q3 25 | $1.8B | $53.9M | ||
| Q2 25 | $871.0M | $60.8M | ||
| Q1 25 | $2.4B | $113.1M | ||
| Q4 24 | $1.2B | $315.2M | ||
| Q3 24 | $2.0B | $58.4M | ||
| Q2 24 | $1.4B | $65.9M | ||
| Q1 24 | $74.0M | $93.0M |
| Q4 25 | $137.0M | $87.2M | ||
| Q3 25 | $479.0M | $-31.7M | ||
| Q2 25 | $85.0M | $-17.4M | ||
| Q1 25 | $-268.0M | $1.9M | ||
| Q4 24 | $671.0M | $97.5M | ||
| Q3 24 | $176.0M | $-42.5M | ||
| Q2 24 | $34.0M | $-28.0M | ||
| Q1 24 | $-493.0M | $-17.0M |
| Q4 25 | — | 55.3% | ||
| Q3 25 | — | -0.3% | ||
| Q2 25 | — | 31.1% | ||
| Q1 25 | — | 36.9% | ||
| Q4 24 | — | 52.0% | ||
| Q3 24 | — | -6.5% | ||
| Q2 24 | — | 28.7% | ||
| Q1 24 | — | 31.7% |
| Q4 25 | 8.9% | 38.7% | ||
| Q3 25 | 32.2% | -77.1% | ||
| Q2 25 | 10.7% | -37.9% | ||
| Q1 25 | -14.8% | 4.2% | ||
| Q4 24 | 69.2% | 35.7% | ||
| Q3 24 | 9.3% | -74.0% | ||
| Q2 24 | 1.0% | -42.5% | ||
| Q1 24 | -829.7% | -19.3% |
| Q4 25 | 8.1% | 26.7% | ||
| Q3 25 | 26.4% | -58.8% | ||
| Q2 25 | 9.8% | -28.6% | ||
| Q1 25 | -11.2% | 1.7% | ||
| Q4 24 | 55.7% | 30.9% | ||
| Q3 24 | 8.7% | -72.7% | ||
| Q2 24 | 2.4% | -42.5% | ||
| Q1 24 | -666.2% | -18.3% |
| Q4 25 | $1.84 | $2.43 | ||
| Q3 25 | $7.89 | $-1.46 | ||
| Q2 25 | $1.02 | $-0.98 | ||
| Q1 25 | $-5.04 | $-0.33 | ||
| Q4 24 | $10.27 | $2.93 | ||
| Q3 24 | $2.47 | $-1.83 | ||
| Q2 24 | $0.12 | $-1.33 | ||
| Q1 24 | $-8.22 | $-0.96 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $73.7M |
| Total DebtLower is stronger | $3.2B | — |
| Stockholders' EquityBook value | $6.8B | $591.6M |
| Total Assets | $241.8B | $1.3B |
| Debt / EquityLower = less leverage | 0.47× | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | — | $73.7M | ||
| Q3 25 | — | $63.1M | ||
| Q2 25 | — | $65.9M | ||
| Q1 25 | — | $121.1M | ||
| Q4 24 | $1.9B | $39.2M | ||
| Q3 24 | $1.8B | $64.0M | ||
| Q2 24 | $1.4B | $126.3M | ||
| Q1 24 | $1.3B | $175.0M |
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.2B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.2B | — | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.2B | — | ||
| Q1 24 | $3.2B | — |
| Q4 25 | $6.8B | $591.6M | ||
| Q3 25 | $6.4B | $514.2M | ||
| Q2 25 | $5.7B | $554.9M | ||
| Q1 25 | $5.2B | $581.6M | ||
| Q4 24 | $5.0B | $588.4M | ||
| Q3 24 | $5.5B | $499.3M | ||
| Q2 24 | $4.1B | $548.9M | ||
| Q1 24 | $4.2B | $582.8M |
| Q4 25 | $241.8B | $1.3B | ||
| Q3 25 | $244.7B | $1.0B | ||
| Q2 25 | $242.6B | $1.1B | ||
| Q1 25 | $234.7B | $1.1B | ||
| Q4 24 | $238.5B | $1.2B | ||
| Q3 24 | $245.2B | $1.0B | ||
| Q2 24 | $237.4B | $1.0B | ||
| Q1 24 | $239.7B | $1.1B |
| Q4 25 | 0.47× | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | 0.56× | — | ||
| Q1 25 | 0.60× | — | ||
| Q4 24 | 0.64× | — | ||
| Q3 24 | 0.57× | — | ||
| Q2 24 | 0.76× | — | ||
| Q1 24 | 0.75× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-3.0M | $-35.9M |
| Free Cash FlowOCF − Capex | — | $-36.1M |
| FCF MarginFCF / Revenue | — | -11.1% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | — | 0.0% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | -0.02× | -0.41× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-27.6M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $-3.0M | $-35.9M | ||
| Q3 25 | $117.0M | $-25.3M | ||
| Q2 25 | $-1.0M | $-41.2M | ||
| Q1 25 | $146.0M | $77.1M | ||
| Q4 24 | $-118.0M | $-27.7M | ||
| Q3 24 | $24.0M | $-29.3M | ||
| Q2 24 | $334.0M | $-32.2M | ||
| Q1 24 | $-530.0M | $70.8M |
| Q4 25 | — | $-36.1M | ||
| Q3 25 | — | $-25.5M | ||
| Q2 25 | — | $-42.8M | ||
| Q1 25 | — | $76.8M | ||
| Q4 24 | — | $-28.3M | ||
| Q3 24 | — | $-30.3M | ||
| Q2 24 | — | $-32.4M | ||
| Q1 24 | — | $70.6M |
| Q4 25 | — | -11.1% | ||
| Q3 25 | — | -47.4% | ||
| Q2 25 | — | -70.4% | ||
| Q1 25 | — | 67.9% | ||
| Q4 24 | — | -9.0% | ||
| Q3 24 | — | -51.8% | ||
| Q2 24 | — | -49.3% | ||
| Q1 24 | — | 75.9% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.2% |
| Q4 25 | -0.02× | -0.41× | ||
| Q3 25 | 0.24× | — | ||
| Q2 25 | -0.01× | — | ||
| Q1 25 | — | 39.55× | ||
| Q4 24 | -0.18× | -0.28× | ||
| Q3 24 | 0.14× | — | ||
| Q2 24 | 9.82× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
BHF
| Annuities | $926.0M | 55% |
| Runoff | $319.0M | 19% |
| Life | $298.0M | 18% |
| Other | $78.0M | 5% |
| Distribution Service | $66.0M | 4% |
| Accident And Health Insurance Segment | $2.0M | 0% |
EHTH
| Medicare | $282.7M | 87% |
| Other | $29.2M | 9% |
| Ancillaries | $7.9M | 2% |
| Commission Members Approved In Prior Periods | $3.8M | 1% |
| Small Business | $3.1M | 1% |
| Commission Revenue From Renewals | $2.4M | 1% |
