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Intrinsic Value

Brighthouse Financial, Inc. · BHF

Residual Income

Conservative

More adverse but historically defensible assumptions.

$53.74

Base

The model's central intrinsic-value estimate.

$12.08

Optimistic

More favorable but historically defensible assumptions.

-$52.64

Scenarios are the same model run under different but historically defensible assumptions. They are not price targets. Where a valuation gap is shown it is a comparison with a recent close, not a forecast return; where the price is stale, no gap is shown at all.

Model confidence: 74%Valuation as of Sep 21, 2026Latest filing used Feb 24, 2026

Confidence reflects data completeness, accounting quality, and model reliability. It is not a probability of future price.

Valuation drivers
Normalized ROE
-1.0%
Cost of equity
10.24%
Terminal ROE
4.6%
Terminal growth
2.50%
Book common equity
$6.8B
Intrinsic common equity
$690.4M
Terminal-value share
-302.0%
Model notes (16)
  • Intrinsic value is below book; the forecast return does not cover the cost of equity (Base case)
  • Terminal value is -302% of intrinsic equity value (Base case)
  • Forecast payout capped at 100% of earnings left the demonstrated range (Conservative case)
  • Intrinsic value is below book; the forecast return does not cover the cost of equity (Conservative case)
  • ROTCE unavailable — tangible common equity is not reported(FY2017–FY2025)
  • Book-value rollforward residual of 5.3%(FY2020)
  • Book-value rollforward residual of 5.2%(FY2023)
  • Intrinsic value is below book; the forecast return does not cover the cost of equity (Optimistic case)
  • Terminal value is 186% of intrinsic equity value (Optimistic case)
  • Combined ratio unavailable — partial insurance expense coverage
  • Share count method: ending shares fallback
  • Terminal return on equity is below the cost of equity; terminal value is negative
  • Year 1 forecast net income negative payout suspended
  • Year 2 forecast net income negative payout suspended
  • Year 3 forecast net income negative payout suspended
  • Year 4 forecast net income negative payout suspended
Model details
Normalization
V1
Scenario
V2
Confidence
V1
Engine version
valuation-1.0.1-share-units-terminal
Data snapshot
filed:2026-02-24