PRINCIPAL FINANCIAL GROUP INC PFG

Financials SIC 6321 - Accident & Health Insurance NAICS Finance and Insurance › Insurance Carriers and Related Activities › Insurance Carriers › Direct Life, Health, and Medical Insurance Carriers › Direct Health and Medical Insurance Carriers derived Nasdaq

Principal Financial Group, Inc. ("PFG") is a leader in global financial services offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and workplace benefits and protection solutions through our diverse family of financial services companies. We had $1,814.6 billion in assets under administration ("AUA"), including $781.0 billion in assets under management ("AUM") as of December 31, 2025.

Our global asset management businesses serve a broad range of institutional, retirement, high net worth, and retail investors worldwide. Our focused investment teams provide diverse, long-term investment capabilities including equity, fixed income, real estate, and other alternative investments, as well as fund offerings. Our international asset management and accumulation businesses focus on the opportunities created as aging populations around the world drive increased demand for retirement accumulation, retirement asset management and retirement income management solutions.

Last close 108.56 2026-10-23
Market cap $23.45B 2026-03-31 share count
52-week range 79.48 - 121.18

Valuation FY2025 figures against the last close

P/S1.5x
P/E20.7x
P/FCF5.2x
EV/EBITDA—
Dividend yield2.9%
Diluted EPS5.25

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $15.63B$16.13B$13.67B$17.54B$14.43B$14.74B$16.22B$14.24B$14.09B$12.39B
Pre-tax income $1.42B$1.89B$738.8M$6.04B$2.04B$1.66B$1.64B$1.78B$2.38B$1.55B
Income tax $160.5M$291.7M$68.7M$1.19B$283.9M$265.0M$249.2M$230.7M$72.3M$229.9M
Net income $1.26B$1.60B$670.1M$4.85B$1.76B$1.40B$1.39B$1.55B$2.31B$1.32B
EPS, basic 5.326.772.5818.945.875.085.005.418.004.55
EPS, diluted 5.256.682.5518.635.795.054.965.367.884.50
Shares, diluted (wtd. avg.) 225.7M235.3M244.6M255.3M272.9M276.6M281.0M288.8M293.1M292.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $4.43B$4.21B$4.71B$4.85B$2.33B$2.85B$2.52B$2.98B$2.47B$2.72B
Property, plant and equipment ——————$967.7M$767.3M$759.5M$699.0M
Goodwill $1.60B$1.55B$1.61B$1.60B$1.63B$1.71B$1.69B$1.10B$1.07B$1.02B
Other intangibles $1.27B$1.39B$1.47B$1.53B$1.60B$1.72B$1.79B$1.32B$1.31B$1.33B
Total assets $341.38B$313.66B$305.05B$290.87B$304.66B$296.63B$276.09B$243.04B$253.94B$228.01B
Short-term debt $27.7M$152.7M$61.1M$80.7M$79.8M$84.7M$93.4M$42.9M$39.5M$51.4M
Long-term debt $3.93B$3.96B$3.93B$4.00B$4.28B$4.28B$3.73B$3.26B$3.18B$3.13B
Total liabilities $328.99B$302.19B$293.84B$280.59B$288.20B$279.75B$261.14B$231.19B$240.92B$217.62B
Retained earnings $18.07B$17.58B$16.68B$16.70B$12.88B$11.84B$11.07B$10.29B$9.48B$7.72B
Total equity $11.88B$11.09B$10.96B$10.02B$12.14B$16.62B$14.69B$11.46B$12.92B$10.29B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $4.54B$4.60B$3.79B$3.17B$3.25B$3.71B$5.49B$5.16B$4.19B$3.86B
Depreciation and amortisation $251.4M$256.2M$272.7M$295.9M$275.3M$251.9M$226.8M$205.1M$195.7M$186.6M
Stock-based compensation $109.9M$108.7M$99.4M$91.3M$96.1M$87.2M$82.6M$77.4M$82.7M$84.4M
Investing cash flow -$4.14B-$5.40B-$1.35B$1.06B-$5.69B-$5.00B-$7.69B-$5.70B-$4.05B-$5.15B
Financing cash flow -$181.8M$300.3M-$2.59B-$1.72B$1.92B$1.62B$1.73B$1.05B-$384.0M$1.45B
Dividends paid $684.0M$658.4M$625.5M$642.3M$654.1M$614.5M$606.0M$598.6M$540.0M$464.9M
Buybacks $902.7M$1.04B$740.4M$1.66B$937.2M$307.0M$281.0M$671.6M$220.4M$277.3M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-039920.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 5B 10B 15B 20B Revenue, FY2016: 12.4B Net income, FY2016: 1.3B Revenue, FY2017: 14.1B Net income, FY2017: 2.3B Revenue, FY2018: 14.2B Net income, FY2018: 1.5B Revenue, FY2019: 16.2B Net income, FY2019: 1.4B Revenue, FY2020: 14.7B Net income, FY2020: 1.4B Revenue, FY2021: 14.4B Net income, FY2021: 1.8B Revenue, FY2022: 17.5B Net income, FY2022: 4.9B Revenue, FY2023: 13.7B Net income, FY2023: 670.1M Revenue, FY2024: 16.1B Net income, FY2024: 1.6B Revenue, FY2025: 15.6B Net income, FY2025: 1.3B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $12.39B $14.09B $14.24B $16.22B $14.74B $14.43B $17.54B $13.67B $16.13B $15.63B
Gross profit — — — — — — — — — —
Net income $1.32B $2.31B $1.55B $1.39B $1.40B $1.76B $4.85B $670.1M $1.60B $1.26B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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