Primerica, Inc. PRI

Financials SIC 6311 - Life Insurance NAICS Finance and Insurance › Insurance Carriers and Related Activities › Insurance Carriers › Direct Life, Health, and Medical Insurance Carriers › Direct Life Insurance Carriers derived NYSE

Primerica, Inc. ("Primerica" or the "Parent Company" and, together with its direct and indirect subsidiaries, "we", "us" or the "Company") is a leading provider of financial products and services to middle-income households in the United States and Canada with 151,524 life insurance-licensed sales representatives as of December 31, 2025. These independent licensed representatives ("independent sales representatives" or "independent sales force") assist our clients in meeting their needs for term life insurance, which we underwrite, and mutual funds, annuities, managed investments, and other financial products, which we distribute primarily on behalf of third parties. We insured over 5.5 million lives and had approximately 3.1 million client investment accounts as of December 31, 2025. Our business model uniquely positions us to reach underserved middle-income consumers in a cost-effective manner and has proven itself in both favorable and challenging economic environments.

Last close 274.43 2026-10-23
Market cap $8.45B 2026-06-30 share count
52-week range 230.09 - 327.28

Valuation FY2025 figures against the last close

P/S2.6x
P/E12.0x
P/FCF9.4x
EV/EBITDA—
Dividend yield1.6%
Diluted EPS22.91

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Canada
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 2.9B (86.6%) 87% United States Canada, FY2025: 440.8M (13.4%) 13% Canada FY2024 United States, FY2024: 2.7B (87.2%) 87% Canada, FY2024: 394.8M (12.8%) 13% FY2023 United States, FY2023: 2.4B (87.2%) 87% Canada, FY2023: 351.7M (12.8%) 13%
Region FY2025FY2024FY2023
United States $2.85B $2.69B $2.40B
Canada $440.8M $394.8M $351.7M

As the company reported it, from the “Segment and Geographical Information - Long Lived Assets and Continuing Operations by Country (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • Term Life Insurance Segment
  • Investment and Savings Products Segment
  • Corporate and Other Distributed Products Segment
Revenue by segment, 3 categories over 3 years. The same figures are in the table below. FY2025 Term Life Insurance Segment, FY2025: 1.8B (55.3%) 55% Term Life Insurance Segment Investment and Savings Products Segment, FY2025: 1.2B (37.9%) 38% Investment and Savings Products Segment Corporate and Other Distributed Products Segment, FY2025: 223.7M (6.8%) 7% FY2024 Term Life Insurance Segment, FY2024: 1.8B (57.2%) 57% Investment and Savings Products Segment, FY2024: 1.1B (34.2%) 34% Corporate and Other Distributed Products Segment, FY2024: 264.2M (8.6%) 9% FY2023 Term Life Insurance Segment, FY2023: 1.7B (61.6%) 62% Investment and Savings Products Segment, FY2023: 865.3M (31.5%) 31% Corporate and Other Distributed Products Segment, FY2023: 190.2M (6.9%) 7%
Segment FY2025FY2024FY2023
Term Life Insurance Segment $1.82B $1.77B $1.69B
Investment and Savings Products Segment $1.25B $1.06B $865.3M
Corporate and Other Distributed Products Segment $223.7M $264.2M $190.2M

As the company reported it, from the “Segment and Geographical Information - Schedule of Reconciles Segment Revenues to Total Revenues and Segment Income (Loss) Before Income Taxes to Income (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $3.29B$3.09B$2.75B$2.66B$2.71B$2.22B$2.05B$1.90B$1.69B$1.52B
Cost of revenue ——$55.2M$68.4M$52.8M—————
Gross profit ——$2.69B$2.59B$2.66B—————
Interest expense ——$26.6M$27.2M$30.6M$28.8M$28.8M$28.8M$28.5M$28.7M
Pre-tax income $974.6M$939.2M$771.7M$718.7M$643.5M$506.7M$477.1M$416.1M$379.5M$337.6M
Income tax $223.3M$219.1M$180.6M$163.9M$167.5M$120.6M$110.7M$92.0M$29.3M$118.2M
Net income $751.2M$470.5M$576.6M$472.1M$477.4M$386.2M$366.4M$324.1M$350.3M$219.4M
EPS, basic 22.9513.7315.9712.3712.039.608.657.357.634.59
EPS, diluted 22.9113.7115.9412.3311.999.578.627.337.614.59
Shares, diluted (wtd. avg.) 32.7M34.2M36.0M38.1M39.7M40.2M42.3M44.0M45.7M47.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $756.2M$687.8M$594.1M$489.2M$392.5M$547.6M$256.9M$262.1M$280.0M$212.0M
Short-term investments ———————$8.2M——
Property, plant and equipment $39.8M$40.7M$37.6M$52.7M$67.0M$57.7M$46.1M$36.0M$28.1M$27.5M
Goodwill ——$127.7M$127.7M$179.2M—————
Other intangibles $45.3M$45.3M$45.3M$185.5M$195.8M$45.3M$45.3M$48.1M$51.5M$54.9M
Total assets $15.01B$14.58B$15.03B$14.64B$16.20B$14.91B$13.69B$12.60B$12.46B$11.44B
Total liabilities $12.57B$12.32B$12.96B$12.61B$14.03B$13.07B$12.04B$11.13B$11.04B$10.22B
Retained earnings $2.42B$2.23B$2.28B$2.15B$2.00B$1.71B$1.59B$1.49B$1.38B$1.14B
Total equity $2.45B$2.26B$2.07B$2.03B$925.4M$1.84B$1.65B$1.46B$1.42B$1.22B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $901.2M$862.1M$692.5M$757.7M$657.0M$643.4M$485.5M$478.1M$391.5M$294.4M
Depreciation and amortisation $19.3M$18.2M$21.0M$23.2M$24.6M$18.0M$15.7M$9.0M$10.1M$11.2M
Stock-based compensation $24.6M$25.1M$18.9M$22.4M$16.8M$19.0M$17.5M$17.3M$15.3M$13.4M
Investing cash flow -$235.6M-$232.2M-$90.1M-$200.0M-$923.4M-$53.5M-$201.9M-$232.8M-$131.3M-$47.9M
Financing cash flow -$599.6M-$551.1M-$479.6M-$457.9M$108.0M-$301.8M-$290.1M-$261.0M-$193.5M-$187.4M
Dividends paid $136.1M$112.8M$93.7M$83.8M$74.6M$64.3M$57.6M$44.1M$35.8M$33.4M
Buybacks $450.0M$425.0M$375.1M$356.3M$18.8M$231.4M$225.0M$210.1M$150.0M$150.1M

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 0001193125-26-082233.

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 1B 2B 3B 4B Revenue, FY2016: 1.5B Net income, FY2016: 219.4M Revenue, FY2017: 1.7B Net income, FY2017: 350.3M Revenue, FY2018: 1.9B Net income, FY2018: 324.1M Revenue, FY2019: 2.1B Net income, FY2019: 366.4M Revenue, FY2020: 2.2B Net income, FY2020: 386.2M Revenue, FY2021: 2.7B Gross profit, FY2021: 2.7B Net income, FY2021: 477.4M Revenue, FY2022: 2.7B Gross profit, FY2022: 2.6B Net income, FY2022: 472.1M Revenue, FY2023: 2.7B Gross profit, FY2023: 2.7B Net income, FY2023: 576.6M Revenue, FY2024: 3.1B Net income, FY2024: 470.5M Revenue, FY2025: 3.3B Net income, FY2025: 751.2M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.52B $1.69B $1.90B $2.05B $2.22B $2.71B $2.66B $2.75B $3.09B $3.29B
Gross profit — — — — — $2.66B $2.59B $2.69B — —
Net income $219.4M $350.3M $324.1M $366.4M $386.2M $477.4M $472.1M $576.6M $470.5M $751.2M

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
  • 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
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02

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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