8-K Announcements
6Apr 23, 2026·SEC
Apr 20, 2026·SEC
Feb 9, 2026·SEC
Principal Financial Group, Inc. (PFG) fundamental analysis — strengths, weaknesses & financial health based on data analysis
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Principal Financial Group, Inc. (PFG) stock price & volume — 10-year historical chart
Principal Financial Group, Inc. (PFG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Principal Financial Group, Inc. (PFG) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 23, 2026 | $2.07vs $2.01+3.0% | $3.5Bvs $4.1B-14.6% |
| Q1 2026 | Feb 9, 2026 | $2.19vs $2.23-1.8% | $4.5Bvs $4.1B+8.1% |
| Q4 2025 | Oct 27, 2025 | $2.10vs $2.20-4.5% | $3.7Bvs $4.1B-11.2% |
| Q3 2025 | Jul 28, 2025 | $2.16vs $1.97+9.6% | $3.7Bvs $4.0B-7.8% |
Principal Financial Group, Inc. (PFG) competitors in Life, annuity and benefits insurers — business model, growth, and fundamentals comparison
Principal Financial Group, Inc. (PFG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Principal Financial Group, Inc. (PFG) annual income statement — 10-year revenue, gross profit & net income history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | 14.09B | 14.24B | 16.22B | 14.74B | 14.43B | 17.54B | 13.67B | 16.13B | 15.63B |
Revenue Growth % | 13.71% | 1.02% | 13.94% | -9.13% | -2.13% | 21.54% | -22.07% | 18.02% | -3.11% |
Medical Costs & Claims | 7.82B | 8.19B | 9.91B | 8.28B | 7.35B | 6.49B | 7.77B | 8.77B | 8.56B |
Medical Cost Ratio % | 55.51% | 57.54% | 61.06% | 56.18% | 50.96% | 37.02% | 56.83% | 54.41% | 54.81% |
Gross Profit | 6.27B▲ 0% | 6.04B▼ 3.6% | 6.32B▲ 4.5% | 6.46B▲ 2.3% | 7.08B▲ 9.5% | 11.04B▲ 56.1% | 5.9B▼ 46.6% | 7.35B▲ 24.6% | 7.06B▼ 4.0% |
Gross Margin % | 44.49% | 42.46% | 38.94% | 43.82% | 49.04% | 62.98% | 43.17% | 45.59% | 45.19% |
Gross Profit Growth % | 14.41% | -3.6% | 4.49% | 2.28% | 9.53% | 56.08% | -46.58% | 24.63% | -3.98% |
Operating Expenses | 4.02B | 4.26B | 4.62B | 4.77B | 5.16B | 5.06B | 5.16B | 5.46B | 5.64B |
OpEx / Revenue % | 28.51% | 29.92% | 28.5% | 32.33% | 35.8% | 28.84% | 37.77% | 33.88% | 36.13% |
Depreciation & Amortization | 195.7M | 205.1M | 226.8M | 251.9M | 275.3M | 295.9M | 272.7M | 256.2M | 251.4M |
Combined Ratio % | 84.02% | 87.47% | 89.56% | 88.51% | 86.76% | 65.86% | 94.59% | 88.28% | 90.94% |
Operating Income | 2.25B▲ 0% | 1.78B▼ 20.8% | 1.69B▼ 5.1% | 1.69B▲ 0.0% | 1.91B▲ 12.8% | 5.99B▲ 213.3% | 738.8M▼ 87.7% | 1.89B▲ 155.8% | 1.42B▼ 25.1% |
Operating Margin % | 15.98% | 12.53% | 10.44% | 11.49% | 13.24% | 34.14% | 5.41% | 11.72% | 9.06% |
Operating Income Growth % | 41.5% | -20.77% | -5.11% | 0.01% | 12.84% | 213.31% | -87.66% | 155.77% | -25.06% |
EBITDA | 2.45B | 1.99B | 1.92B | 1.95B | 2.19B | 6.28B | 1.01B | 2.15B | 1.67B |
EBITDA Margin % | 17.37% | 13.97% | 11.84% | 13.2% | 15.15% | 35.83% | 7.4% | 13.31% | 10.67% |
Interest Expense | 0 | 0 | 0 | 1M | 1M | 1.2M | 1.9M | 2.6M | 2.2M |
Non-Operating Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2.2M |
Pretax Income | 2.25B▲ 0% | 1.78B▼ 20.8% | 1.69B▼ 5.1% | 1.69B▲ 0.0% | 1.91B▲ 12.8% | 5.99B▲ 213.3% | 738.8M▼ 87.7% | 1.89B▲ 155.8% | 1.42B▼ 25.1% |
Pretax Margin % | 15.98% | 12.53% | 10.44% | 11.49% | 13.24% | 34.14% | 5.41% | 11.72% | 9.06% |
Income Tax | -72.3M | 230.7M | 249.2M | 265M | 283.9M | 1.19B | 68.7M | 291.7M | 160.5M |
Effective Tax Rate % | -3.21% | 12.93% | 14.72% | 15.65% | 14.86% | 19.87% | 9.3% | 15.44% | 11.33% |
Net Income | 2.31B▲ 0% | 1.55B▼ 33.1% | 1.39B▼ 9.8% | 1.4B▲ 0.1% | 1.58B▲ 13.2% | 4.76B▲ 201.0% | 623.2M▼ 86.9% | 1.57B▲ 152.1% | 1.19B▼ 24.6% |
Net Margin % | 16.39% | 10.86% | 8.59% | 9.47% | 10.95% | 27.13% | 4.56% | 9.74% | 7.58% |
Net Income Growth % | 75.5% | -33.06% | -9.85% | 0.11% | 13.21% | 201.03% | -86.9% | 152.09% | -24.56% |
EPS (Diluted) | 7.88▲ 0% | 5.35▼ 32.1% | 4.96▼ 7.3% | 5.05▲ 1.8% | 5.79▲ 14.7% | 18.63▲ 221.8% | 2.55▼ 86.3% | 6.68▲ 162.0% | 5.25▼ 21.4% |
EPS Growth % | 75.11% | -32.11% | -7.29% | 1.81% | 14.65% | 221.76% | -86.31% | 161.96% | -21.41% |
EPS (Basic) | 8.00 | 5.41 | 5.00 | 5.08 | 5.87 | 18.94 | 2.58 | 6.77 | 5.32 |
Diluted Shares Outstanding | 293.2M | 288.8M | 281M | 276.6M | 272.9M | 255.3M | 244.6M | 226.23M | 225.7M |
Principal Financial Group, Inc. (PFG) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
Total Assets | 253.94B | 243.04B | 291.05B | 313.47B | 304.66B | 303B | 305.05B | 313.66B | 341.38B |
Asset Growth % | 11.37% | -4.29% | 19.76% | 7.7% | -2.81% | -0.54% | 0.67% | 2.82% | 8.84% |
Total Investment Assets | 82.1B | 84.77B | 142.77B | 159.97B | 108.91B | 128.25B | 98.32B | 103.38B | 110.9B |
Long-Term Investments | 61.82B | 62.59B | 72.66B | 81.26B | 80.92B | 65.36B | 67.99B | 71.57B | 81.84B |
Short-Term Investments | 59.48B | 60.11B | 70.11B | 78.71B | 78.15B | 62.89B | 65.67B | 25.73B | 29.06B |
Total Current Assets | 2.57B | 64.5B | 74.36B | 83.28B | 0 | 10.92B | 0 | 0 | 4.43B |
Cash & Equivalents | 2.47B | 2.98B | 2.52B | 2.85B | 2.33B | 4.85B | 4.71B | 4.21B | 4.43B |
Receivables | 0 | 1.41B | 1.74B | 1.72B | 1.84B | 25.38B | 24.61B | 23.26B | 3.89B |
Other Current Assets | 0 | 0 | 7.29B | 0 | -82.33B | 12.45B | -94.99B | -53.2B | -32.95B |
Goodwill & Intangibles | 2.38B | 2.42B | 3.48B | 3.43B | 3.23B | 3.13B | 3.08B | 2.94B | 6.94B |
Goodwill | 1.07B | 1.1B | 1.69B | 1.71B | 1.63B | 1.6B | 1.61B | 1.55B | 1.6B |
Intangible Assets | 1.31B | 1.32B | 1.79B | 1.72B | 1.6B | 1.53B | 1.47B | 1.39B | 5.34B |
PP&E (Net) | 759.5M | 767.3M | 967.7M | 1.02B | 1.04B | 996.1M | 938.4M | 769.4M | 701.4M |
Other Assets | -61.82B | -958.4M | -1.8B | -2.33B | -85.19B | -66.57B | -72B | -75.28B | -85.91B |
Total Liabilities | 240.92B | 231.19B | 276.1B | 296.6B | 288.2B | 292.7B | 293.84B | 302.19B | 328.99B |
Total Debt | 3.22B | 3.3B | 3.83B | 4.36B | 4.36B | 4.08B | 3.99B | 4.11B | 4.2B |
Net Debt | 747.1M | 325M | 1.31B | 1.51B | 2.03B | -770.3M | -715.7M | -103.9M | -227.1M |
Long-Term Debt | 3.18B | 3.26B | 3.73B | 4.28B | 4.28B | 4B | 3.93B | 3.96B | 3.66B |
Short-Term Debt | 39.5M | 42.9M | 93.4M | 84.7M | 79.8M | 80.7M | 61.1M | 152.7M | 442.8M |
Total Current Liabilities | 56.2M | 42.9M | 93.4M | 84.7M | 0 | 20.54B | 0 | 0 | 1.88B |
Accounts Payable | 0 | 0 | 0 | 0 | 0 | 20.44B | 0 | 0 | 0 |
Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Current Liabilities | -56.2M | -68.2M | -16.2M | -22.3M | -95.3M | 0 | -19.7B | -18.27B | 1.44B |
Deferred Taxes | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
Other Liabilities | 236.65B | 226.9B | 0 | 0 | -6.6B | 257.4B | -5.54B | -5.66B | 304.17B |
Total Equity | 13.02B▲ 0% | 11.85B▼ 9.0% | 14.95B▲ 26.2% | 16.87B▲ 12.9% | 16.46B▼ 2.5% | 10.3B▼ 37.4% | 11.21B▲ 8.8% | 11.47B▲ 2.3% | 12.39B▲ 8.0% |
Equity Growth % | 25.33% | -9.03% | 26.2% | 12.86% | -2.46% | -37.39% | 8.79% | 2.31% | 8.04% |
Shareholders Equity | 12.85B | 11.39B | 14.62B | 16.56B | 16.07B | 10B | 10.92B | 11.09B | 11.88B |
Minority Interest | 173.9M | 457.2M | 332.7M | 314M | 388.9M | 303.1M | 294.6M | 382.6M | 507.4M |
Retained Earnings | 9.48B | 10.29B | 11.07B | 11.84B | 12.88B | 17.04B | 16.68B | 17.58B | 18.07B |
Common Stock | 4.7M | 4.8M | 4.8M | 4.8M | 4.8M | 4.9M | 4.9M | 4.9M | 5M |
Accumulated OCI | 165.5M | -1.57B | 1.04B | 2.38B | 1.61B | -7.2B | -5.35B | -5.22B | -4.19B |
Return on Equity (ROE) | 19.73% | 12.44% | 10.41% | 8.77% | 9.48% | 35.55% | 5.79% | 13.85% | 9.93% |
Return on Assets (ROA) | 0.96% | 0.62% | 0.52% | 0.46% | 0.51% | 1.57% | 0.21% | 0.51% | 0.36% |
Equity / Assets | 5.13% | 4.87% | 5.14% | 5.38% | 5.4% | 3.4% | 3.68% | 3.66% | 3.63% |
Debt / Equity | 0.25x | 0.28x | 0.26x | 0.26x | 0.26x | 0.40x | 0.36x | 0.36x | 0.34x |
Book Value per Share | 44.42 | 41.02 | 53.21 | 61.00 | 60.31 | 40.36 | 45.83 | 50.70 | 54.90 |
Tangible BV per Share | 36.29 | 32.66 | 40.82 | 48.59 | 48.48 | 28.10 | 33.25 | 37.70 | 24.16 |
Principal Financial Group, Inc. (PFG) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 4.19B | 5.16B | 5.49B | 3.74B | 3.22B | 3.17B | 3.79B | 4.6B | 4.54B |
Operating CF Growth % | 8.56% | 23.13% | 6.53% | -31.94% | -13.9% | -1.43% | 19.52% | 21.37% | -1.44% |
Operating CF / Revenue % | 29.72% | 36.22% | 33.86% | 25.36% | 22.31% | 18.09% | 27.75% | 28.54% | 29.03% |
Net Income | 2.32B | 1.55B | 1.44B | 1.43B | 1.76B | 4.85B | 623.2M | 1.6B | 1.19B |
Depreciation & Amortization | 195.7M | 205.1M | 226.8M | 251.9M | 275.3M | 295.9M | 272.7M | 256.2M | 0 |
Stock-Based Compensation | 82.7M | 77.4M | 82.6M | 87.2M | 96.1M | 91.3M | 99.4M | 108.7M | 0 |
Deferred Taxes | -357.8M | 276.7M | 312.3M | 99.7M | 149M | 0 | 0 | 0 | 0 |
Other Non-Cash Items | -486M | -434.7M | -433M | -210M | -605.9M | -4.45B | 7.7M | -21.4M | 749.5M |
Working Capital Changes | 2.43B | 3.48B | 3.86B | 2.08B | 1.55B | 2.38B | 2.79B | 2.66B | 2.6B |
Cash from Investing | -4.05B | -5.7B | -7.69B | -5.03B | -5.66B | 1.06B | -1.35B | -5.4B | -4.14B |
Capital Expenditures | -164.8M | -92.3M | -132.4M | -108.8M | -129.9M | -116.3M | -102M | -68.8M | 0 |
Acquisitions | -13.3M | -184.7M | -1.21B | -1.4M | 27M | -9.2M | 0 | 0 | 0 |
Purchase of Investments | -13.44B | -14.21B | -14.63B | -15.78B | -16.73B | -19.42B | -12.34B | 0 | 0 |
Sale/Maturity of Investments | 10.16B | 10.03B | 9.46B | 11.86B | 13.7B | 21.58B | 11.08B | 0 | 0 |
Other Investing | -602.4M | -1.24B | -1.18B | -999.2M | -2.52B | -978.6M | 12.3M | -5.33B | -4.14B |
Cash from Financing | -384M | 1.05B | 1.73B | 1.62B | 1.92B | -1.72B | -2.59B | 300.3M | -181.8M |
Dividends Paid | -540M | -598.6M | -606M | -614.5M | -654.1M | -642.3M | -625.5M | -658.4M | -684M |
Share Repurchases | -220.4M | -671.6M | -281M | -307M | -937.2M | -1.7B | -740.4M | -1.04B | -902.7M |
Stock Issued | 162.5M | 64M | 37.7M | 42.8M | 86.7M | 181.7M | 57.8M | 67.7M | 43.7M |
Debt Issuance (Net) | -1000K | 1000K | 1000K | 1000K | 1000K | -1000K | -1000K | 1000K | -1000K |
Other Financing | 283.1M | 2.23B | 2.09B | 2.01B | 3.5B | 725.9M | -1.19B | 1.81B | 1.77B |
Net Change in Cash | -248.8M▲ 0% | 506.7M▲ 303.7% | -461.6M▼ 191.1% | 333.9M▲ 172.3% | -517.8M▼ 255.1% | 2.52B▲ 585.9% | -140.3M▼ 105.6% | -495.8M▼ 253.4% | 219.1M▲ 144.2% |
Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash at Beginning | 2.72B | 2.47B | 2.98B | 2.52B | 2.85B | 2.33B | 4.85B | 4.71B | 4.21B |
Cash at End | 2.47B | 2.98B | 2.52B | 2.85B | 2.33B | 4.85B | 4.71B | 4.21B | 4.43B |
Free Cash Flow | 4.02B▲ 0% | 5.06B▲ 25.9% | 5.36B▲ 5.9% | 3.63B▼ 32.3% | 3.09B▼ 14.9% | 3.06B▼ 1.0% | 3.69B▲ 20.7% | 4.53B▲ 22.9% | 4.44B▼ 2.1% |
FCF Growth % | 8.65% | 25.87% | 5.86% | -32.29% | -14.9% | -1.05% | 20.74% | 22.86% | -2.1% |
FCF Margin % | 28.55% | 35.57% | 33.05% | 24.62% | 21.41% | 17.43% | 27% | 28.11% | 28.41% |
FCF per Share | 13.72 | 17.54 | 19.08 | 13.12 | 11.32 | 11.97 | 15.09 | 20.04 | 19.67 |
Principal Financial Group, Inc. (PFG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
Combined Ratio | 87.16% | 84.02% | 87.47% | 89.56% | 88.51% | 86.76% | 65.86% | 94.59% | 88.28% | 90.94% |
Medical Cost Ratio | 55.78% | 55.51% | 57.54% | 61.06% | 56.18% | 50.96% | 37.02% | 56.83% | 54.41% | 54.81% |
Return on Equity (ROE) | 13.26% | 19.73% | 12.44% | 10.41% | 8.77% | 9.48% | 35.55% | 5.79% | 13.85% | 9.93% |
Return on Assets (ROA) | 0.59% | 0.96% | 0.62% | 0.52% | 0.46% | 0.51% | 1.57% | 0.21% | 0.51% | 0.36% |
Equity / Assets | 4.56% | 5.13% | 4.87% | 5.14% | 5.38% | 5.4% | 3.4% | 3.68% | 3.66% | 3.63% |
Book Value / Share | 35.5 | 44.42 | 41.02 | 53.21 | 61 | 60.31 | 40.36 | 45.83 | 50.7 | 54.9 |
Debt / Equity | 0.31x | 0.25x | 0.28x | 0.26x | 0.26x | 0.26x | 0.40x | 0.36x | 0.36x | 0.34x |
Revenue Growth | 3.59% | 13.71% | 1.02% | 13.94% | -9.13% | -2.13% | 21.54% | -22.07% | 18.02% | -3.11% |
Principal Financial Group, Inc. (PFG) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 23, 2026·SEC
Apr 20, 2026·SEC
Feb 9, 2026·SEC
Feb 18, 2026·SEC
Principal Financial Group, Inc. (PFG) stock FAQ — growth, dividends, profitability & financials explained
Principal Financial Group, Inc. (PFG) saw revenue decline by 3.1% over the past year.
Yes, Principal Financial Group, Inc. (PFG) is profitable, generating $1.19B in net income for fiscal year 2025 (7.6% net margin).
Yes, Principal Financial Group, Inc. (PFG) pays a dividend with a yield of 2.77%. This makes it attractive for income-focused investors.
Principal Financial Group, Inc. (PFG) has a return on equity (ROE) of 9.9%. This is below average, suggesting room for improvement.
Principal Financial Group, Inc. (PFG) has a combined ratio of 90.9%. A ratio below 100% indicates underwriting profitability.