Genworth Financial (GNW)
Market Price (9/8/2026): $10.43 | Market Cap: $4.0 BilSector: Financials | Industry: Multi-line Insurance
Genworth Financial (GNW)
Market Price (9/8/2026): $10.43Market Cap: $4.0 BilSector: FinancialsIndustry: Multi-line Insurance
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.4%, FCF Yield is 11% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -180% Low stock price volatilityVol 12M is 22% Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and Future of Housing & Real Estate. Themes include Geriatric Care, and Mortgage Technology & Risk Management. | Trading close to highsDist 52W High is -0.3%, Dist 3Y High is -0.3% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.9% Key risksGNW key risks include [1] the significant profitability challenge of its legacy Long-Term Care business, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.4%, FCF Yield is 11% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -180% |
| Low stock price volatilityVol 12M is 22% |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and Future of Housing & Real Estate. Themes include Geriatric Care, and Mortgage Technology & Risk Management. |
| Trading close to highsDist 52W High is -0.3%, Dist 3Y High is -0.3% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.9% |
| Key risksGNW key risks include [1] the significant profitability challenge of its legacy Long-Term Care business, Show more. |
Qualitative Assessment
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Genworth Financial (GNW) stock has gained about 20% since 5/31/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Earnings Performance. Genworth Financial reported adjusted operating income, excluding the Closed Block, of $0.29 per diluted share for fiscal Q2 2026 (ended June 30, 2026), surpassing analyst consensus estimates of $0.28 by $0.01. This earnings beat was significantly bolstered by its majority-owned mortgage insurance subsidiary, Enact, which generated $143 million in adjusted operating income during the quarter. The company also reported a 5.9% year-over-year increase in quarterly revenue, reaching $1.901 billion.
2. Increased Shareholder Returns Through Repurchase Program. Genworth demonstrated a commitment to returning capital to shareholders by increasing its 2026 share repurchase guidance to a range of $225 million–$250 million. During fiscal Q2 2026, the company repurchased $62 million of its shares at an average price of $8.74 per share. For the first half of fiscal 2026, total share repurchases amounted to $129 million at an average price of $8.67 per share.
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Genworth Financial (GNW) stock has gained about 20% since 5/31/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Earnings Performance. Genworth Financial reported adjusted operating income, excluding the Closed Block, of $0.29 per diluted share for fiscal Q2 2026 (ended June 30, 2026), surpassing analyst consensus estimates of $0.28 by $0.01. This earnings beat was significantly bolstered by its majority-owned mortgage insurance subsidiary, Enact, which generated $143 million in adjusted operating income during the quarter. The company also reported a 5.9% year-over-year increase in quarterly revenue, reaching $1.901 billion.
2. Increased Shareholder Returns Through Repurchase Program. Genworth demonstrated a commitment to returning capital to shareholders by increasing its 2026 share repurchase guidance to a range of $225 million–$250 million. During fiscal Q2 2026, the company repurchased $62 million of its shares at an average price of $8.74 per share. For the first half of fiscal 2026, total share repurchases amounted to $129 million at an average price of $8.67 per share.
3. Progress in Long-Term Care Business Stabilization and CareScout Growth. The company continued to stabilize its legacy Long-Term Care (LTC) business, reporting $46 million in gross incremental premium approvals during fiscal Q2 2026 from its multi-year rate action plan. This ongoing strategy, combined with benefit reductions and loss mitigation activities, has contributed to an estimated cumulative net present value (NPV) of approximately $34.8 billion since 2012 as of June 30, 2026. Concurrently, the CareScout platform expanded its network to more than 1,100 home-care locations and made progress toward 2,000 senior-living communities, facilitating approximately 1,450 matches in fiscal Q2 2026, which more than doubled the pace of the first half of 2025.
4. Smooth Interim CEO Transition. On July 7, 2026, Jerome Upton, Genworth's CFO, was appointed interim President & CEO following Thomas J. McInerney's temporary medical leave. The subsequent positive fiscal Q2 2026 earnings results, reported under Upton's interim leadership, suggest a stable management transition and continuity in the company's strategic execution.
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Stock Movement Drivers
Fundamental Drivers
The 20.9% change in GNW stock from 5/31/2026 to 9/7/2026 was primarily driven by a 21.0% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.56 | 10.35 | 20.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,067 | 7,167 | 1.4% |
| Net Income Margin (%) | 3.1% | 3.0% | -3.2% |
| P/E Multiple | 15.4 | 18.6 | 21.0% |
| Shares Outstanding (Mil) | 388 | 381 | 1.8% |
| Cumulative Contribution | 20.9% |
Market Drivers
5/31/2026 to 9/7/2026| Return | Correlation | |
|---|---|---|
| GNW | 20.9% | |
| Market (SPY) | 1.8% | -25.2% |
| Sector (XLF) | 12.6% | 39.6% |
Fundamental Drivers
The 22.6% change in GNW stock from 2/28/2026 to 9/7/2026 was primarily driven by a 24.1% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.44 | 10.35 | 22.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,106 | 7,167 | 0.9% |
| Net Income Margin (%) | 3.1% | 3.0% | -5.7% |
| P/E Multiple | 15.0 | 18.6 | 24.1% |
| Shares Outstanding (Mil) | 396 | 381 | 4.0% |
| Cumulative Contribution | 22.6% |
Market Drivers
2/28/2026 to 9/7/2026| Return | Correlation | |
|---|---|---|
| GNW | 22.6% | |
| Market (SPY) | 12.6% | 4.3% |
| Sector (XLF) | 13.6% | 45.6% |
Fundamental Drivers
The 20.8% change in GNW stock from 8/31/2025 to 9/7/2026 was primarily driven by a 10.7% change in the company's Net Income Margin (%).| (LTM values as of) | 8312025 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.57 | 10.35 | 20.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,071 | 7,167 | 1.4% |
| Net Income Margin (%) | 2.7% | 3.0% | 10.7% |
| P/E Multiple | 18.7 | 18.6 | -0.6% |
| Shares Outstanding (Mil) | 413 | 381 | 8.4% |
| Cumulative Contribution | 20.8% |
Market Drivers
8/31/2025 to 9/7/2026| Return | Correlation | |
|---|---|---|
| GNW | 20.8% | |
| Market (SPY) | 20.4% | 15.0% |
| Sector (XLF) | 8.9% | 53.5% |
Fundamental Drivers
The 78.8% change in GNW stock from 8/31/2023 to 9/7/2026 was primarily driven by a 427.2% change in the company's P/E Multiple.| (LTM values as of) | 8312023 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.79 | 10.35 | 78.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,356 | 7,167 | -2.6% |
| Net Income Margin (%) | 10.5% | 3.0% | -72.0% |
| P/E Multiple | 3.5 | 18.6 | 427.2% |
| Shares Outstanding (Mil) | 473 | 381 | 24.1% |
| Cumulative Contribution | 78.8% |
Market Drivers
8/31/2023 to 9/7/2026| Return | Correlation | |
|---|---|---|
| GNW | 78.8% | |
| Market (SPY) | 77.1% | 41.6% |
| Sector (XLF) | 76.6% | 60.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GNW Return | 7% | 31% | 26% | 5% | 29% | 15% | 175% |
| Peers Return | 9% | -1% | 43% | 14% | 20% | 12% | 139% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| GNW Win Rate | 50% | 50% | 58% | 42% | 75% | 67% | |
| Peers Win Rate | 54% | 52% | 73% | 59% | 68% | 62% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| GNW Max Drawdown | -29% | -22% | -26% | -14% | -18% | -12% | |
| Peers Max Drawdown | -20% | -26% | -13% | -15% | -13% | -13% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ACT, MTG, RDN, ESNT, NMIH. See GNW Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/4/2026 (YTD)
How Low Can It Go
| Event | GNW | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -22.1% | -6.7% |
| % Gain to Breakeven | 28.3% | 7.1% |
| Time to Breakeven | 92 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -15.6% | -24.5% |
| % Gain to Breakeven | 18.4% | 32.4% |
| Time to Breakeven | 40 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -31.7% | -33.7% |
| % Gain to Breakeven | 46.3% | 50.9% |
| Time to Breakeven | 232 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -13.8% | -19.2% |
| % Gain to Breakeven | 16.1% | 23.8% |
| Time to Breakeven | 3 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -33.5% | -3.7% |
| % Gain to Breakeven | 50.3% | 3.9% |
| Time to Breakeven | 715 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -69.3% | -12.2% |
| % Gain to Breakeven | 226.1% | 13.9% |
| Time to Breakeven | 2505 days | 62 days |
In The Past
Genworth Financial's stock fell -9.2% during the 2025 US Tariff Shock. Such a loss loss requires a 10.1% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | GNW | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -22.1% | -6.7% |
| % Gain to Breakeven | 28.3% | 7.1% |
| Time to Breakeven | 92 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -31.7% | -33.7% |
| % Gain to Breakeven | 46.3% | 50.9% |
| Time to Breakeven | 232 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -33.5% | -3.7% |
| % Gain to Breakeven | 50.3% | 3.9% |
| Time to Breakeven | 715 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -69.3% | -12.2% |
| % Gain to Breakeven | 226.1% | 13.9% |
| Time to Breakeven | 2505 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -44.9% | -17.9% |
| % Gain to Breakeven | 81.5% | 21.8% |
| Time to Breakeven | 134 days | 123 days |
In The Past
Genworth Financial's stock fell -9.2% during the 2025 US Tariff Shock. Such a loss loss requires a 10.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Genworth Financial (GNW)
Genworth Financial, Inc. (GNW) is an insurance company primarily operating in the United States and internationally, offering a range of insurance products. The company's core business is divided into three main segments. Its Enact segment focuses on mortgage insurance, specifically insuring prime-based, individually underwritten residential mortgage loans, as well as providing pool mortgage insurance products. This segment serves lenders and homeowners by mitigating the risk of mortgage defaults.
The U.S. Life Insurance segment is dedicated to providing various long-term care insurance products, which help cover the costs of extended medical and non-medical services for individuals with chronic illnesses or disabilities. Additionally, this segment services traditional life insurance and fixed annuity products within the United States, catering to individuals seeking financial protection and retirement savings solutions.
Genworth also manages a Runoff segment, which includes legacy products such as variable annuities, variable life insurance, and corporate-owned life insurance, along with funding agreements. The company distributes its diverse product portfolio through a multi-channel approach, utilizing a sales force, in-house sales representatives, and digital marketing programs to reach its individual and institutional customers.
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Here are a few analogies to describe Genworth Financial (GNW):
- It's like a specialized financial safety net for the housing market, insuring mortgage lenders against borrower default, similar to how Fidelity National Financial provides title insurance to protect property transactions.
- Think of it as a traditional insurance company, akin to New York Life or Prudential, but with a significant focus on long-term care policies that cover expenses like nursing homes and assisted living.
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- Mortgage Insurance: Protects lenders against losses from residential mortgage loan defaults.
- Long-Term Care Insurance: Provides coverage for expenses associated with long-term care services.
- Life Insurance: Offers various types of life insurance products, including traditional, variable, and corporate-owned policies.
- Annuities: Provides both fixed and variable annuity products as financial instruments.
- Funding Agreements: Manages existing financial contracts that provide funding.
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Genworth Financial (GNW) primarily sells its insurance products to **individuals**. Based on the company's segments and product offerings, its major customers can be categorized as follows:
- Individuals planning for long-term care needs: These customers purchase long-term care insurance products to help cover the costs associated with extended care services, such as nursing home care, assisted living, or in-home care, typically in later stages of life or due to chronic health conditions.
- Individuals seeking life insurance protection: This category includes customers who purchase traditional life insurance and variable life insurance products to provide financial security for their beneficiaries upon their death, often used for income replacement, debt coverage, or estate planning.
- Individuals seeking retirement income or savings solutions: These customers invest in fixed annuity products and variable annuity products to secure a stream of income during retirement, achieve tax-deferred growth, or manage their retirement savings.
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Thomas J. McInerney, President and Chief Executive Officer
Thomas J. McInerney has served as President and Chief Executive Officer of Genworth Financial, Inc. since January 2013. Before joining Genworth, he was a Senior Advisor to the Boston Consulting Group from June 2011 to December 2012, providing consulting and advisory services to leading insurance and financial services companies. From October 2009 to December 2010, Mr. McInerney was a member of ING Groep's Management Board for Insurance, where he served as the Chief Operating Officer of ING's worldwide insurance and investment management business. Prior to that, he held various senior leadership positions with ING Groep NV and Aetna Inc., where he began his career as an insurance underwriter in June 1978. At Aetna, he was President of Aetna Financial Services and was involved in the sale of its Property and Casualty business and the acquisition of U.S. Healthcare. He currently serves on the boards of Enact Holdings, United Way Worldwide, and other non-profit organizations.
Jerome T. Upton, Executive Vice President and Chief Financial Officer
Jerome T. Upton was appointed Executive Vice President and Chief Financial Officer of Genworth Financial, Inc. on March 1, 2023. He previously served as Senior Vice President, Deputy CFO, and Controller from April 2022 to March 2023. Mr. Upton has held various leadership roles within Genworth since June 2010, including Deputy CFO from August 2020 to April 2022, and Chief Financial and Operations Officer of the Global Mortgage Insurance businesses from May 2012 to August 2019. He joined Genworth's predecessor company in 1998. His career journey includes significant experience in international finance and in strategies to monetize businesses for capital generation.
Rohit Gupta, President and CEO, Enact Holdings, Inc.
Rohit Gupta has served as President and CEO of Enact Holdings, Inc., a majority-owned subsidiary of Genworth Financial, and as a Director of Enact Holdings since its IPO in September 2021. He has also been President and Chief Executive Officer of Genworth's U.S. mortgage insurance business since May 2012. Prior roles within Genworth's U.S. mortgage insurance business include Chief Commercial Officer (September 2009-May 2012) and Senior Vice President, Products, Intelligence and Strategy (October 2007-September 2009). Mr. Gupta began his career with FedEx in strategic marketing in 1998 and later held various management positions with GE Capital and GE Mortgage Insurance, starting in 2000. He has served on the board of Genworth MI Canada Inc., the Mortgage Bankers Association board of directors, and the board of Aqua Finance from 2021 to July 2022.
Kelly Saltzgaber, Executive Vice President and Chief Investment Officer
Kelly Saltzgaber was appointed Executive Vice President and Chief Investment Officer on March 1, 2023, following the separation of the CFO and CIO roles. She previously led the Portfolio Management team from January 2018 to March 2023 and worked as a Senior Credit Trader from 2013 to 2016. Before joining Genworth in 2013, Ms. Saltzgaber gained 27 years of combined experience in Institutional Credit Sales at firms such as Goldman Sachs, Barclays, and Cambridge International, and as an analyst in the Asset-Backed Securities group at Merrill Lynch.
Gregg Karawan, Executive Vice President and General Counsel
Gregg Karawan serves as the Executive Vice President and General Counsel for Genworth Financial, Inc.
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<h3>Key Risks to Genworth Financial (GNW)</h3>
<ol>
<li><strong>Legacy Long-Term Care (LTC) Insurance Portfolio:</strong> Genworth Financial faces significant ongoing risks from its historically long-term care insurance portfolio, particularly the "closed block" of policies no longer actively sold. This segment has been a major source of uncertainty due to higher-than-expected claims, longer claim durations, and challenges in obtaining necessary regulatory approvals for premium increases to cover growing aging population claims payments. Inadequate reserves and the need to increase them can directly decrease the company's book value. Market skepticism regarding these long-term care liabilities is a primary factor contributing to the company's discounted market valuation.</li>
<li><strong>Dependence on Enact Holdings and Housing Market Volatility:</strong> Genworth's financial stability and value are critically dependent on the performance of its mortgage insurance subsidiary, Enact Holdings. While Enact is a strong revenue generator, a weakening or collapse of the housing market, characterized by factors such as rising mortgage delinquency rates or a decline in home prices, would negatively impact Enact's new insurance written and profitability, thereby affecting the dividends it can provide to Genworth. Furthermore, Enact's reliance on a limited number of large lending customers and potential geographic concentration exposes it to risks if these relationships deteriorate or localized economic downturns occur.</li>
<li><strong>Regulatory and Economic Uncertainties:</strong> The insurance industry is subject to stringent regulatory oversight, and any changes in regulations could impact Genworth's operations across its segments. Macroeconomic factors, including interest rate fluctuations, are a significant risk. Low interest rates have historically cut into investment returns, while changes in rates can materially affect profitability and actuarial assumptions. Broader economic downturns can also adversely affect the company's performance. Emerging risks such as technological advancements and cybersecurity threats also pose challenges for the company.</li>
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Insurtech companies are emerging as a clear threat to Genworth Financial's U.S. Life Insurance segment, particularly its traditional life insurance products. These insurtech firms leverage technology to offer a significantly streamlined, digital-first experience for consumers to research, apply for, and purchase life insurance, often with faster underwriting processes and without the need for traditional agents or medical exams for certain policies. This direct-to-consumer, tech-driven approach fundamentally challenges the traditional distribution models and operational efficiencies of established insurers like Genworth, appealing to younger, digitally native demographics and potentially capturing market share by offering a superior customer experience and, in some cases, more competitive pricing.
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Genworth Financial (symbol: GNW) operates in several key insurance markets. Below are the addressable market sizes for its main products and services:
- Mortgage Insurance: The global mortgage insurance market size was approximately $895.81 billion in 2021 and is projected to reach $1,284.3 billion by the end of 2025. This market is expected to grow to $2,639.78 billion by 2033, with a compound annual growth rate (CAGR) of 9.424% from 2025 to 2033. North America held over 40% of the global revenue for mortgage insurance in 2024 and is anticipated to grow at a CAGR of 4.4% from 2024 to 2031. In the U.S., the private mortgage insurance (MI) industry supported nearly $300 billion in mortgage originations in 2024.
- Long-Term Care Insurance: The global long-term care insurance market size was valued at USD 32.35 billion in 2024 and is projected to reach USD 45.89 billion by 2032, with a CAGR of 4.5%. North America dominated the long-term care insurance market in 2024. The broader global long-term care market (including services beyond just insurance) was valued at USD 786.39 billion in 2023 and is projected to grow to USD 1,464.39 billion by 2032, exhibiting a CAGR of 6.4% from 2024 to 2032. In the U.S. specifically, the long-term care market size was valued at USD 474.03 billion in 2024 and is expected to reach approximately USD 922.06 billion by 2034.
- Traditional Life Insurance: The global life insurance market was valued at an estimated $3.1 trillion in 2024. It is projected to grow to $4 trillion by 2028 and $4.8 trillion by 2035. The United States accounts for nearly 27% of global life insurance premiums. The U.S. life insurance market size was estimated at USD 1.93 trillion in 2024 and is predicted to be worth around USD 4.74 trillion by 2034, growing at a CAGR of 9.40% from 2025 to 2034. The overall U.S. life insurance and annuities market in 2024 was valued at USD 819 billion, with a projection to reach USD 1,100.2 billion by 2032. In 2020, whole life insurance represented the largest segment within the U.S. market, holding a 34.09% revenue share.
- Fixed Annuity Products: Total U.S. annuity sales reached $461.3 billion in 2025. Fixed-rate deferred annuities constituted the largest single category, with sales of $160.6 billion in 2025. Fixed Indexed Annuity (FIA) sales also saw significant volume, reaching $128.2 billion in 2025. The broader U.S. life insurance and annuities market was USD 819 billion in 2024 and is expected to grow to USD 1,100.2 billion by 2032.
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Genworth Financial (GNW) is expected to drive future revenue growth over the next two to three years through several key initiatives and market dynamics:
- Continued Growth of Enact Mortgage Insurance: The Enact segment, Genworth's mortgage insurance provider, is a consistent source of strong operating performance and cash flow for the company. Enact has demonstrated growth in primary insurance in-force, with projections indicating a 2-3% annual increase over the intermediate term, alongside maintaining strong return on equity. Capital returns from Enact are strategically utilized to fund debt reduction and invest in the expanding CareScout platform.
- Expansion and Innovation of the CareScout Platform: Genworth is significantly investing in and expanding its CareScout platform, which offers aging care services and funding solutions. This expansion includes the development of the CareScout Quality Network and new consumer-focused Care Plans. The company has a target of generating at least $25 million in revenue from CareScout services by 2026 and plans to roll out its network and navigation services for broader U.S. coverage through various channels in 2025-2026.
- Launch and Growth of Care Assurance: As part of its CareScout initiative, Genworth has introduced Care Assurance, a new stand-alone long-term care insurance product. This product has launched in 40 states, re-establishing Genworth's presence in the long-term care insurance market.
- Realization of Long-Term Care (LTC) Multi-Year Rate Action Plan (MYRAP) Premiums: Genworth continues to make progress on its Multi-Year Rate Action Plan for its legacy LTC business. This plan involves securing significant premium rate increases, with $209 million of gross incremental premium approvals secured in 2025 at an average increase of 38%. These actions are crucial for stabilizing the statutory capital of the LTC business and contribute to its financial improvement.
- Strategic Acquisition of Seniorly: The acquisition of Seniorly in the fourth quarter of 2025 is expected to enhance Genworth's reach into the direct-to-consumer market for aging care services, further bolstering the growth potential of the CareScout platform.
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Share Repurchases
- Genworth Financial executed $790 million in share repurchases from the program's inception in May 2022 through December 31, 2025, resulting in an approximate 24% reduction in outstanding shares.
- In September 2025, the Board of Directors authorized a new share repurchase program of up to $350 million.
- The company is targeting $175 million to $225 million in share repurchases for 2026.
Inbound Investments
- Genworth Financial received $407 million in capital returns from its 81% owned mortgage insurance subsidiary, Enact Holdings, in 2025, with approximately $405 million expected in 2026.
- Since Enact's IPO in May 2021, Genworth has received approximately $738 million in capital from Enact through the second quarter of 2024.
Outbound Investments
- Genworth Financial completed the acquisition of Seniorly, Inc. for $15 million in cash in Q4 2025 to expand its CareScout platform into the direct-to-consumer market.
- The company invested $85 million in 2025 to launch its CareScout Insurance business.
Capital Expenditures
- Genworth Financial plans to invest $50 million to $55 million in its CareScout services platform in 2026 to support its growth strategy.
- Capital contributions to CareScout Services amounted to approximately $35 million in 2024.
Peer Outperformance in Multi-line Insurance
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Investment Banking & Brokerage | 13 | 9.8% | 133.2% | 146.5% | IBKR 503% · SNEX 243% · HOOD 205% |
| Reinsurance | 6 | 22.3% | 79.1% | 126.4% | SPNT 167% · RGA 140% · MTG 130% |
| Diversified Banks | 13 | 35.0% | 137.5% | 114.2% | CM 159% · JPM 156% · RY 147% |
| Life & Health Insurance | 20 | 17.1% | 58.5% | 100.6% | JXN 511% · UNM 327% · FG 229% |
| Multi-Sector Holdings | 6 | 4.2% | 43.1% | 80.4% | JONE 361% · JEF 84% · BRK-B 81% |
| Regional Banks | 265 | 27.6% | 88.1% | 69.5% | GCBC 376% · ESQ 349% · VBNK 328% |
| Property & Casualty Insurance | 42 | 11.5% | 75.5% | 68.2% | ASIC 2739900% · HRTG 422% · UVE 303% |
| Multi-line Insurance ← | 9 | 13.4% | 87.8% | 56.7% | GNW 184% · L 101% · SLF 94% |
| Consumer Finance | 30 | 10.1% | 90.6% | 37.6% | ENVA 609% · EZPW 406% · FCFS 168% |
| Financial Exchanges & Data | 15 | -0.2% | 22.4% | 32.4% | VIRT 222% · CBOE 155% · CME 79% |
| Insurance Brokers | 16 | -11.4% | 2.0% | 26.3% | LIFE 652% · AJG 91% · ARX 89% |
| Asset Management & Custody Banks | 82 | -9.8% | 21.6% | 22.8% | WT 344% · VCTR 295% · SII 294% |
| Diversified Financial Services | 4 | -0.5% | 7.9% | 16.0% | FRHC 165% · EQH 97% · TMS -65% |
| Commercial & Residential Mortgage Finance | 12 | -39.6% | 30.5% | 8.2% | FNMA 514% · FMCC 497% · ESNT 66% |
| Specialized Finance | 3 | 15.7% | 48.8% | -7.0% | EFC 37% · CACC -7% · HASI -16% |
| Mortgage REITs | 33 | -10.9% | 11.0% | -11.5% | NREF 59% · RITM 53% · DX 41% |
| Diversified Capital Markets | 21 | -20.0% | -0.7% | -42.3% | BTCS 629% · OPY 209% · LPLA 151% |
| Transaction & Payment Processing Services | 15 | 3.6% | 0.7% | -42.9% | V 70% · MA 70% · CPAY 58% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 40.74 |
| Mkt Cap | 5.6 |
| Rev LTM | 1,295 |
| Op Inc LTM | - |
| FCF LTM | 714 |
| FCF 3Y Avg | 550 |
| CFO LTM | 714 |
| CFO 3Y Avg | 553 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.4% |
| Rev Chg 3Y Avg | 6.8% |
| Rev Chg Q | 7.0% |
| QoQ Delta Rev Chg LTM | 1.7% |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 60.3% |
| CFO/Rev 3Y Avg | 58.8% |
| FCF/Rev LTM | 59.8% |
| FCF/Rev 3Y Avg | 58.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 5.6 |
| P/S | 4.7 |
| P/Op Inc | - |
| P/EBIT | 7.2 |
| P/E | 9.2 |
| P/CFO | 8.4 |
| Total Yield | 12.3% |
| Dividend Yield | 1.9% |
| FCF Yield 3Y Avg | 12.3% |
| D/E | 0.1 |
| Net D/E | -0.9 |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Closed Block | 5,960 | 6,026 | 6,272 | ||
| Enact | 1,251 | 1,224 | 1,167 | 1,097 | 1,118 |
| Corporate and Other | 14 | 7 | |||
| Life and Annuities | 1,986 | 1,851 | |||
| Long-Term Care Insurance | 4,400 | 4,846 | |||
| Total | 7,211 | 7,250 | 7,439 | 7,497 | 7,822 |
| $ Mil | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|
| International Mortgage Insurance | 723 | 710 | 737 | 708 | |
| U.S Mortgage Insurance | 135 | 54 | -200 | -758 | -887 |
| International Protection | 9 | 46 | -58 | 120 | |
| Runoff | -5 | 62 | 81 | -83 | |
| Corporate and Other | -348 | -419 | -372 | -410 | -400 |
| U.S. Life Insurance | -1,790 | 597 | 417 | 661 | |
| Wealth Management | 107 | 76 | |||
| International | 774 | ||||
| Retirement and Protection | 589 | ||||
| Total | -1,276 | 1,050 | 712 | 314 | 76 |
| $ Mil | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Enact | 542 | 574 | 516 | 378 | 569 |
| Corporate and Other | -105 | -64 | -110 | -703 | -337 |
| Long-Term Care Insurance | -152 | 320 | |||
| Life and Annuities | -209 | 124 | |||
| Runoff | 26 | 25 | 39 | ||
| U.S. Life Insurance | 73 | 478 | 13 | ||
| Australia Mortgage Insurance | 59 | ||||
| Total | 76 | 609 | 850 | 178 | 343 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Closed Block | 79,615 | 78,624 | |||
| Enact | 6,895 | 6,525 | 6,193 | 5,712 | 5,850 |
| Corporate and Other | 1,573 | 1,672 | 1,912 | 1,865 | 2,651 |
| Life and Annuities | 36,517 | ||||
| Long-Term Care Insurance | 46,195 | ||||
| Runoff | 7,888 | 9,460 | |||
| U.S. Life Insurance | 70,977 | 81,210 | |||
| Total | 88,083 | 86,821 | 90,817 | 86,442 | 99,171 |
Price Behavior
| Market Price | $10.35 | |
| Market Cap ($ Bil) | 3.9 | |
| First Trading Date | 05/25/2004 | |
| Distance from 52W High | -0.3% | |
| 50 Days | 200 Days | |
| DMA Price | $9.79 | $8.97 |
| DMA Trend | up | up |
| Distance from DMA | 5.7% | 15.4% |
| 3M | 1YR | |
| Volatility | 19.3% | 21.9% |
| Downside Capture | -78.66 | 8.71 |
| Upside Capture | 23.26 | 28.73 |
| Correlation (SPY) | -24.1% | 14.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.04 | -0.25 | -0.45 | 0.04 | 0.25 | 0.77 |
| Up Beta | -0.25 | -0.62 | -0.52 | 0.05 | 0.32 | 0.85 |
| Down Beta | 1.64 | -0.32 | -0.75 | -0.04 | 0.33 | 0.88 |
| Up Capture | 9% | 8% | 6% | 20% | 19% | 41% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 9 | 21 | 35 | 65 | 125 | 378 |
| Down Capture | -14% | -32% | -81% | -16% | 17% | 85% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 12 | 20 | 28 | 59 | 119 | 351 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GNW | |
|---|---|---|---|---|
| GNW | 19.6% | 21.8% | 0.73 | - |
| Sector ETF (XLF) | 8.8% | 14.6% | 0.35 | 53.5% |
| Equity (SPY) | 19.7% | 12.8% | 1.13 | 14.6% |
| Gold (GLD) | 24.6% | 29.2% | 0.75 | -11.8% |
| Commodities (DBC) | 43.8% | 20.3% | 1.67 | -17.8% |
| Real Estate (VNQ) | 9.1% | 13.6% | 0.39 | 36.8% |
| Bitcoin (BTCUSD) | -28.1% | 43.8% | -0.63 | 2.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GNW | |
|---|---|---|---|---|
| GNW | 22.7% | 32.5% | 0.68 | - |
| Sector ETF (XLF) | 10.1% | 18.4% | 0.41 | 60.1% |
| Equity (SPY) | 12.8% | 17.2% | 0.57 | 45.4% |
| Gold (GLD) | 19.1% | 18.8% | 0.82 | -2.1% |
| Commodities (DBC) | 10.7% | 19.5% | 0.43 | 9.8% |
| Real Estate (VNQ) | 1.7% | 18.9% | -0.01 | 41.4% |
| Bitcoin (BTCUSD) | 10.2% | 52.6% | 0.38 | 18.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GNW | |
|---|---|---|---|---|
| GNW | 8.9% | 46.5% | 0.35 | - |
| Sector ETF (XLF) | 13.6% | 22.1% | 0.56 | 45.3% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 40.0% |
| Gold (GLD) | 12.4% | 16.3% | 0.62 | 1.4% |
| Commodities (DBC) | 7.9% | 18.1% | 0.35 | 16.9% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 35.3% |
| Bitcoin (BTCUSD) | 63.7% | 66.2% | 1.03 | 6.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | 0.2% | 3.4% | 7.1% |
| 5/5/2026 | 3.4% | 2.5% | -4.4% |
| 2/23/2026 | 3.0% | 3.0% | -2.5% |
| 11/5/2025 | 0.2% | -1.1% | 1.4% |
| 7/30/2025 | -0.9% | 3.5% | 8.2% |
| 4/30/2025 | -1.0% | 0.7% | 2.8% |
| 2/18/2025 | -7.9% | -10.2% | -5.5% |
| 11/6/2024 | -1.7% | 2.7% | 5.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 13 | 17 |
| # Negative | 13 | 11 | 7 |
| Median Positive | 1.3% | 3.4% | 4.2% |
| Median Negative | -2.7% | -4.0% | -5.5% |
| Max Positive | 6.4% | 11.0% | 16.1% |
| Max Negative | -13.5% | -19.6% | -12.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | 0.2% | 3.4% | 7.1% |
| 5/5/2026 | 3.4% | 2.5% | -4.4% |
| 2/23/2026 | 3.0% | 3.0% | -2.5% |
| 11/5/2025 | 0.2% | -1.1% | 1.4% |
| 7/30/2025 | -0.9% | 3.5% | 8.2% |
| 4/30/2025 | -1.0% | 0.7% | 2.8% |
| 2/18/2025 | -7.9% | -10.2% | -5.5% |
| 11/6/2024 | -1.7% | 2.7% | 5.0% |
| 7/31/2024 | -2.7% | -7.1% | 2.1% |
| 5/1/2024 | 6.4% | 9.1% | 3.6% |
| 2/21/2024 | -2.0% | 2.5% | 5.4% |
| 11/8/2023 | -8.2% | -2.8% | 4.2% |
| 8/8/2023 | 0.6% | -6.1% | -10.6% |
| 5/3/2023 | -13.5% | -3.8% | 3.3% |
| 2/6/2023 | -4.2% | 6.7% | 7.7% |
| 11/1/2022 | 1.3% | -2.1% | 7.9% |
| 8/1/2022 | 0.5% | 2.4% | 0.2% |
| 5/3/2022 | 3.0% | -4.0% | 2.0% |
| 2/1/2022 | 1.3% | 11.0% | 3.3% |
| 11/2/2021 | -4.2% | -6.6% | -12.6% |
| 8/3/2021 | -0.9% | 8.5% | 9.4% |
| 4/29/2021 | -1.4% | -2.3% | -4.1% |
| 2/16/2021 | -10.9% | -19.6% | -6.4% |
| 11/4/2020 | 3.7% | 10.0% | 16.1% |
| SUMMARY STATS | |||
| # Positive | 11 | 13 | 17 |
| # Negative | 13 | 11 | 7 |
| Median Positive | 1.3% | 3.4% | 4.2% |
| Median Negative | -2.7% | -4.0% | -5.5% |
| Max Positive | 6.4% | 11.0% | 16.1% |
| Max Negative | -13.5% | -19.6% | -12.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/28/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/05/2021 | 10-Q |
| 12/31/2020 | 02/26/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/06/2020 | 10-Q |
| 12/31/2019 | 02/27/2020 | 10-K |
| 09/30/2019 | 10/30/2019 | 10-Q |
Insider Activity
Updated 9/8/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | McInerney, Thomas J | President and CEO; Director | Direct | Sell | 9082026 | 10.53 | 100,000 | 1,052,600 | 53,355,062 | Form |
| 2 | Karawan, Gregory S | EVP and General Counsel | Direct | Sell | 8242026 | 9.91 | 40,000 | 396,472 | 3,400,947 | Form |
| 3 | McInerney, Thomas J | President and CEO; Director | Direct | Sell | 5272026 | 9.27 | 100,000 | 927,000 | 49,769,545 | Form |
| 4 | Restrepo, Robert P JR | Direct | Sell | 5262026 | 9.12 | 50,000 | 456,055 | 845,116 | Form | |
| 5 | McInerney, Thomas J | President and CEO; Director | Direct | Sell | 12042025 | 8.64 | 40,000 | 345,600 | 44,128,316 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | McInerney, Thomas J | President and CEO; Director | Direct | Sell | 9082026 | 10.53 | 100,000 | 1,052,600 | 53,355,062 | Form |
| 2 | Karawan, Gregory S | EVP and General Counsel | Direct | Sell | 8242026 | 9.91 | 40,000 | 396,472 | 3,400,947 | Form |
| 3 | McInerney, Thomas J | President and CEO; Director | Direct | Sell | 5272026 | 9.27 | 100,000 | 927,000 | 49,769,545 | Form |
| 4 | Restrepo, Robert P JR | Direct | Sell | 5262026 | 9.12 | 50,000 | 456,055 | 845,116 | Form | |
| 5 | McInerney, Thomas J | President and CEO; Director | Direct | Sell | 12042025 | 8.64 | 40,000 | 345,600 | 44,128,316 | Form |
| 6 | Karawan, Gregory S | EVP and General Counsel | Direct | Sell | 11252025 | 8.51 | 40,000 | 340,404 | 2,570,050 | Form |
Investor Activity (13F)
Updated Sep 8, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Multi-line Insurance Resources |
| Insurance Business America |
| A.M. Best |
| National Underwriter |
| Insurance News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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