Genworth Financial Inc (GNW)

Price$10.35Cached quoteAs of 2026-09-05 20:23 UTC

AI: Undervalued

Price checkThe shares look undervalued, but only if the legacy insurance block remains self-funded.

At the observed market level, Genworth trades at about 46 cents for each dollar of June accounting equity per share. Its roughly 81% Enact stake is worth about $5.4 billion using Enact’s current market capitalization, versus roughly $4 billion for Genworth itself, before taxes and holding-company frictions. A management profit measure excluding the legacy block was about $456 million over the latest twelve months, putting the market value at roughly eight times that profit; reported net income was about $212 million, closer to eighteen times. The discount still looks excessive, but legacy risk is substantial. Yahoo Finance+2Genworth Financial, Inc.+2 Pasted text

Big pictureCore earnings are steady, while reported profit and cash generation remain uneven.

The supplied history shows 2025 revenue near $7.3 billion, net income of $223 million and operating cash flow of $327 million; 2024 net income was $299 million and operating cash flow only $88 million. First-half 2026 net income totaled $94 million and operating cash flow $143 million. By contrast, adjusted operating income excluding the legacy block was $221 million, close to $226 million a year earlier. For an insurer, operating cash flow is not ordinary free cash flow because investment assets constantly move through the balance sheet. Genworth Financial, Inc. Pasted text

Business strengthEnact supplies real cash and capital strength, while old care policies still consume value.

Enact earned $143 million of adjusted operating income in the second quarter and sent $103 million to Genworth. Genworth expects $445 million to $485 million of Enact capital returns for 2026. Enact’s mortgage-insurance capital sufficiency ratio was 161%, leaving $1.89 billion above requirements. Genworth also had about $2.0 billion of consolidated cash against $1.5 billion of debt, although holding-company liquid assets were only $215 million. The counterweight is the legacy block, which lost $110 million on an adjusted basis as aging long-term-care claims rose. Genworth Financial, Inc.+1 Pasted text

What could change the storyBuybacks can lift per-share value, but worsening care claims could erase that benefit.

Shares outstanding fell from 421.4 million at the end of 2024 to 378.4 million by June 2026, so buybacks have clearly outweighed stock compensation and reduced dilution. By September 1, the current authorization had bought about 30 million shares for $262 million, and the board then added another $500 million. The bull case strengthens if Enact keeps funding repurchases below book value. The bear case strengthens if long-term-care claims keep rising, forcing the legacy insurers to retain more capital and weakening the assumption that they remain self-sustaining. Genworth Financial, Inc.+1 Pasted text

AI: News

Buyback authorization expandedGenworth added major buyback capacity, signaling confidence that Enact cash can fund more share reductions.

On September 2, the board added $500 million to the existing repurchase program. About $88 million remained under the prior authorization after roughly 30 million shares had been purchased for $262 million, so total unused capacity became about $588 million. Management expects funding from holding-company cash and future Enact distributions, without assuming any AXA litigation recovery. Shares were up roughly 4% intraday the next day, but the broad United States market also rallied more than 1%, so the announcement cannot be isolated as the sole cause. Genworth Financial, Inc.+2Investing.com+2

Core steady, legacy weakerSecond-quarter results showed stable core earnings, strong Enact cash returns, and worsening legacy care claims.

On August 5, Genworth reported $47 million of net income and $112 million of adjusted operating income excluding the legacy block. Enact contributed $143 million of adjusted operating income and returned $103 million of capital to the parent. The main weakness was the legacy block’s $110 million adjusted operating loss, driven mainly by a $127 million loss as terminations stayed below assumptions and long-term-care claims increased with policyholder aging. The regulatory capital ratio for the legacy insurers fell to 286% from 304% a year earlier. Genworth Financial, Inc.

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Financial statements

	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Revenue	$7.30B	$7.29B	$7.49B	$7.50B	$7.82B	$8.28B	$7.71B	$7.90B	$7.51B	$8.37B	$8.55B	$8.73B	$8.63B	$9.64B	$9.92B	$10.09B	$9.07B	$9.95B	$11.13B
Operating income	—	—	$41.0M	$818.0M	$474.0M	$310.0M	$355.0M	−$5.0M	$530.0M	−$316.0M	$255.0M	−$398.0M	$585.0M	$403.0M	$54.0M	$35.0M	$198.0M	—	—
Operating margin	—	—	0.55%	10.91%	6.06%	3.74%	4.61%	−0.06%	7.05%	−3.78%	2.98%	−4.56%	6.78%	4.18%	0.54%	0.35%	2.18%	—	—
EBITDA	—	—	$305.0M	$1.14B	$858.0M	$773.0M	$763.0M	$343.0M	$922.0M	$182.0M	$1.22B	$55.0M	—	—	—	—	—	—	—
EBITDA margin	—	—	4.07%	15.26%	10.97%	9.33%	9.90%	4.34%	12.27%	2.17%	14.28%	0.63%	—	—	—	—	—	—	—
Net income	$223.0M	$299.0M	$76.0M	$916.0M	$850.0M	$178.0M	$343.0M	$119.0M	$817.0M	−$277.0M	−$615.0M	−$1.24B	$560.0M	$325.0M	$38.0M	$52.0M	−$460.0M	−$572.0M	$1.22B
Net profit margin	3.05%	4.10%	1.01%	12.22%	10.87%	2.15%	4.45%	1.51%	10.87%	−3.31%	−7.19%	−14.25%	6.49%	3.37%	0.38%	0.52%	−5.07%	−5.75%	10.97%
Basic EPSper basic share	$0.54	$0.69	$0.16	$1.82	$1.68	$0.35	$0.68	$0.24	$1.64	-$0.56	-$1.24	-$2.51	$1.13	$0.66	$0.08	$0.11	-$1.02	-$1.32	$2.77
Diluted EPSper diluted share	$0.54	$0.68	$0.16	$1.79	$1.65	$0.35	$0.67	$0.24	$1.63	-$0.56	-$1.24	-$2.51	$1.12	$0.66	$0.08	$0.11	-$1.02	-$1.32	$2.73

Review official source filings ↗

Owners

Reported shareholders

Reference date Jun 30, 2026

14.77%of listed shares

BlackRock, Inc.55.88M shares · Jun 30, 2026

View holders

Top 20 reported holders of GNW
Holder	% owned
BlackRock, Inc.	14.77%55.88M shares
DIMENSIONAL FUND ADVISORS LP	6.77%25.62M shares
DONALD SMITH & CO., INC.	5.94%22.48M shares
VANGUARD PORTFOLIO MANAGEMENT LLC	5.87%22.2M shares
VANGUARD CAPITAL MANAGEMENT LLC	4.39%16.61M shares
STATE STREET CORP	4.37%16.55M shares
River Road Asset Management, LLC	3.82%14.47M shares
AMERICAN CENTURY COMPANIES INC	3.05%11.54M shares
Nuveen, LLC	2.96%11.18M shares
GEODE CAPITAL MANAGEMENT, LLC	2.70%10.23M shares
FMR LLC	2.62%9.91M shares
GENDELL JEFFREY L	1.89%7.14M shares
CITADEL ADVISORS LLC	1.48%5.58M shares
McInerney Thomas J	≈1.39%5.26M shares
NORTHERN TRUST CORP	1.34%5.06M shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	1.24%4.68M shares
D. E. Shaw & Co., Inc.	1.10%4.17M shares
MORGAN STANLEY	1.09%4.13M shares
Man Group plc	0.95%3.59M shares
Invesco Ltd.	0.84%3.18M shares

Percentages use 378.36M shares of this listed class outstanding on Jun 30, 2026. ≈ compares the latest reported holding with a share total from a different date; it is not a confirmed current stake.

Gray completes the 100% scale. Reported positions may overlap; holders have different reporting dates.

Source: SEC Form 13F ↗Updated Sep 29, 2026 · Quarterly data

Insider buys & sells

Jul 1, 2024–Jun 30, 2026

Buys0$0.00 disclosed value

Sells (SEC code S)6$3.85M disclosed value

Transaction	Insider	Type	Shares	Price	Value	Owned after
May 22, 2026Form 4	McInerney Thomas JPresident and CEO; Director	SellCommon Stock	100.0K	$9.27	$927.0K	5.37M
May 22, 2026Form 4	RESTREPO ROBERT P JRDirector	SellCommon Stock	50.0K	$9.12	$456.0K	92.7K
Dec 2, 2025Form 4	McInerney Thomas JPresident and CEO; Director	SellCommon Stock	40.0K	$8.64	$345.6K	5.11M
Nov 24, 2025Form 4	Karawan Gregory S.EVP and General Counsel	SellCommon Stock	40.0K	$8.51	$340.4K	302.0K
Aug 27, 2025Form 4	Gupta RohitPresident & CEO, Enact	SellCommon Stock	86.4K	$8.68	$750.0K	794.6K

Review ownership filings at SEC.gov ↗

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Genworth Financial Inc (GNW)

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