Brighthouse Financial Inc. Depositary shares each representing a 1/1000th Interest in a Share of 4.625% Non-Cumulative Preferred Stock Series D (BHFAM)

FairStock Score: 58/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach BHFAM as a non-cumulative preferred claim on Brighthouse Financial, not as common equity. Brighthouse sells annuities and life insurance in the United States, a business with modest switching costs but no wide moat; it is small, with 1,400 employees, and scale matters in insurance. The filed record is volatile. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $1.6B and net income was $981.0M, or $16.53 diluted EPS. But fiscal Q1 2026 lost $766.0M, or $13.82 per share. FY2025 net income was $433.0M; FY2024 was $388.0M; FY2023 lost $1.1B. That is not the consistency Graham prized. At the 2026-10-13 close, FairStock calculations show P/E 0.76, P/B 0.08, ROE 13.54%, ROCE 0.33%, D/E 1.78 and a Piotroski F-Score of 4/9. The low P/E and P/B may signal credit, reserve or capital anxiety rather than a free lunch. The Series D dividend yield is 11.74%, but it is non-cumulative, so skipped payments do not accrue, and the data do not give CET1, NIM, combined ratio or preferred coverage. Lynch classifies it as a TURNAROUND after a loss within three years. I see a speculative, asset-rich insurer turnaround with high current income, but not a fortress-like Buffett compounder; missing reserve and capital detail keeps me cautious.

In plain English: Brighthouse Financial sells annuities and life insurance in the United States. Its profits have swung sharply between losses and gains; the latest reported quarter was very profitable, but earlier periods included big losses. The preferred shares trade at $9.60 and pay a high current dividend yield, which can look cheap, but the dividend is not guaranteed and the business carries insurer risk.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer