Principal Financial Group, Inc. (PFG) Financial Ratios
26 years of historical data (2000–2025) · Financial Services · Insurance - Diversified
EV/EBITDA
↑
14.10
↑+37% vs avg
5yr avg: 10.30
30Y Low3.3·High18.3
P/FCF
↓
5.35
-1% vs avg
5yr avg: 5.39
30Y Low2.4·High7.4
P/B Ratio
↑
2.00
↑+23% vs avg
5yr avg: 1.63
30Y Low0.8·High2.5
ROE
↑
9.9%
↑-33% vs avg
5yr avg: 14.9%
30Y Low2%·High36%
Debt/EBITDA
↑
2.52
+14% vs avg
5yr avg: 2.21
30Y Low0.2·High3.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
PFG Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Principal Financial Group, Inc. trades at 20.9x earnings, 37% above its 5-year average of 15.2x, sitting at the 84th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a premium of 54%. On a free-cash-flow basis, the stock trades at 5.3x P/FCF, roughly in line with the 5-year average of 5.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $23.7B | $19.9B | $17.5B | $19.2B | $21.4B | $19.7B | $13.7B | $15.5B | $12.8B | $20.7B | $16.9B |
| Enterprise Value | $23.5B | $19.7B | $17.4B | $18.5B | $20.7B | $21.8B | $15.2B | $16.8B | $13.1B | $21.4B | $17.4B |
| P/E Ratio → | 20.87 | 16.80 | 11.59 | 30.85 | 4.50 | 12.49 | 9.82 | 11.09 | 8.26 | 8.95 | 12.86 |
| P/S Ratio | 1.52 | 1.27 | 1.09 | 1.41 | 1.22 | 1.37 | 0.93 | 0.95 | 0.90 | 1.47 | 1.37 |
| P/B Ratio | 2.00 | 1.61 | 1.53 | 1.72 | 2.08 | 1.20 | 0.81 | 1.03 | 1.08 | 1.59 | 1.63 |
| P/FCF | 5.35 | 4.49 | 3.86 | 5.21 | 7.01 | 6.39 | 3.78 | 2.88 | 2.52 | 5.14 | 4.57 |
| P/OCF | 5.23 | 4.39 | 3.80 | 5.07 | 6.75 | 6.13 | 3.67 | 2.81 | 2.47 | 4.94 | 4.39 |
P/E links to full P/E history page with 30-year chart
PFG EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Principal Financial Group, Inc.'s enterprise value stands at 14.1x EBITDA, 37% above its 5-year average of 10.3x. The Financial Services sector median is 11.4x, placing the stock at a 24% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.26 | 1.08 | 1.36 | 1.18 | 1.51 | 1.03 | 1.03 | 0.92 | 1.52 | 1.40 |
| EV / EBITDA | 14.10 | 11.80 | 8.11 | 18.32 | 3.29 | 9.96 | 7.83 | 8.73 | 6.58 | 8.76 | 9.78 |
| EV / EBIT | 16.61 | 13.88 | 9.21 | 25.08 | 3.45 | 11.39 | 9.00 | 9.90 | 7.33 | 9.52 | 10.93 |
| EV / FCF | — | 4.43 | 3.84 | 5.02 | 6.76 | 7.05 | 4.20 | 3.13 | 2.58 | 5.33 | 4.70 |
PFG Profitability
Margins and return-on-capital ratios measuring operating efficiency
Principal Financial Group, Inc. earns an operating margin of 9.1%, below the Financial Services sector average of 20.3%. Operating margins have expanded from 5.4% to 9.1% over the past 3 years, signaling improving operational efficiency. ROE of 9.9% is modest. ROIC of 9.0% represents adequate returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 45.2% | 45.2% | 45.6% | 43.2% | 63.0% | 49.0% | 43.8% | 38.9% | 42.5% | 44.5% | 44.2% |
| Operating Margin | 9.1% | 9.1% | 11.7% | 5.4% | 34.1% | 13.2% | 11.5% | 10.4% | 12.5% | 16.0% | 12.8% |
| Net Profit Margin | 7.6% | 7.6% | 9.7% | 4.6% | 27.1% | 11.0% | 9.5% | 8.6% | 10.9% | 16.4% | 10.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.9% | 9.9% | 13.9% | 5.8% | 35.5% | 9.5% | 8.8% | 10.4% | 12.4% | 19.7% | 13.3% |
| ROA | 0.4% | 0.4% | 0.5% | 0.2% | 1.6% | 0.5% | 0.5% | 0.5% | 0.6% | 1.0% | 0.6% |
| ROIC | 9.0% | 9.0% | 13.0% | 5.5% | 32.0% | 7.8% | 7.3% | 8.9% | 10.3% | 13.7% | 11.3% |
| ROCE | 0.4% | 0.4% | 0.6% | 0.2% | 2.1% | 0.6% | 0.6% | 0.6% | 0.7% | 0.9% | 0.7% |
PFG Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Principal Financial Group, Inc. carries a Debt/EBITDA ratio of 2.5x, which is moderately leveraged (41% below the sector average of 4.3x). The company holds a net cash position — cash of $4.4B exceeds total debt of $4.2B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 644.6x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.34 | 0.34 | 0.36 | 0.36 | 0.40 | 0.26 | 0.26 | 0.26 | 0.28 | 0.25 | 0.31 |
| Debt / EBITDA | 2.52 | 2.52 | 1.91 | 3.95 | 0.65 | 1.99 | 2.24 | 1.99 | 1.66 | 1.31 | 1.79 |
| Net Debt / Equity | — | -0.02 | -0.01 | -0.06 | -0.07 | 0.12 | 0.09 | 0.09 | 0.03 | 0.06 | 0.04 |
| Net Debt / EBITDA | -0.14 | -0.14 | -0.05 | -0.71 | -0.12 | 0.93 | 0.78 | 0.68 | 0.16 | 0.31 | 0.26 |
| Debt / FCF | — | -0.05 | -0.02 | -0.19 | -0.25 | 0.66 | 0.42 | 0.24 | 0.06 | 0.19 | 0.12 |
| Interest Coverage | 644.64 | 644.64 | 726.77 | 388.84 | 4989.17 | 1910.90 | 1693.50 | — | — | — | — |
Net cash position: cash ($4.4B) exceeds total debt ($4.2B)
PFG Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Principal Financial Group, Inc.'s current ratio of 2.35x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.35 | 2.35 | — | — | 0.53 | — | 983.28 | 796.17 | 1503.48 | 45.67 | 43.83 |
| Quick Ratio | 2.35 | 2.35 | — | — | 5.14 | — | 983.28 | 874.25 | 1689.33 | 1261.16 | 1044.51 |
| Cash Ratio | 17.78 | 17.78 | — | — | 3.30 | — | 962.93 | 777.54 | 1470.54 | 1102.41 | 896.81 |
| Asset Turnover | — | 0.05 | 0.05 | 0.04 | 0.06 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
PFG Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Principal Financial Group, Inc. returns 6.6% to shareholders annually — split between a 2.8% dividend yield and 3.8% buyback yield. A payout ratio of 57.7% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 4.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.8% | 3.4% | 3.8% | 3.3% | 3.0% | 3.3% | 4.5% | 3.9% | 4.7% | 2.6% | 2.7% |
| Payout Ratio | 57.7% | 57.7% | 41.9% | 100.4% | 13.5% | 41.4% | 44.0% | 43.5% | 38.7% | 23.4% | 35.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.8% | 6.0% | 8.6% | 3.2% | 22.2% | 8.0% | 10.2% | 9.0% | 12.1% | 11.2% | 7.8% |
| FCF Yield | 18.7% | 22.3% | 25.9% | 19.2% | 14.3% | 15.6% | 26.5% | 34.7% | 39.7% | 19.4% | 21.9% |
| Buyback Yield | 3.8% | 4.5% | 6.0% | 3.8% | 7.9% | 4.7% | 2.2% | 1.8% | 5.3% | 1.1% | 1.6% |
| Total Shareholder Yield | 6.6% | 8.0% | 9.7% | 7.1% | 10.9% | 8.1% | 6.7% | 5.7% | 10.0% | 3.7% | 4.4% |
| Shares Outstanding | — | $226M | $226M | $245M | $255M | $273M | $277M | $281M | $289M | $293M | $293M |
Peer Comparison
Compare PFG with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 PFGYou | $24B | 20.9 | 14.1 | 5.3 | 45.2% | 9.1% | 9.9% | 9.0% | 2.5 |
 MET | $56B | 17.8 | 9.4 | 3.1 | 36.4% | 6.0% | 11.9% | 13.1% | 3.5 |
 PRU | $37B | 10.4 | 8.2 | 5.9 | 42.0% | 7.9% | 10.9% | 10.0% | 4.7 |
 LNC | $7B | 6.4 | 2.6 | — | 57.3% | 7.3% | 12.3% | 12.0% | 4.1 |
 UNM | $15B | 21.0 | 17.3 | 26.2 | 38.2% | 7.2% | 6.7% | 4.7% | 3.7 |
 VOYA | $8B | 14.3 | 35.4 | 6.5 | 51.8% | 3.5% | 10.0% | 2.1% | 8.1 |
 EQH | $13B | -9.4 | — | 18.8 | 79.1% | -10.2% | -51.5% | — | — |
 BEN | $17B | 36.3 | 23.7 | 18.8 | 80.3% | 6.9% | 3.7% | 1.6% | 11.7 |
 IVZ | $13B | -17.6 | 16.8 | 8.7 | 43.2% | -10.9% | -2.0% | -2.3% | 8.2 |
 TROW | $23B | 11.6 | 8.0 | 15.8 | 62.7% | 29.9% | 17.8% | 13.3% | 0.3 |
 AMP | $45B | 12.9 | 8.1 | 15.6 | 50.4% | 25.5% | 60.5% | 31.3% | 1.2 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 26 years · Updated daily
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PFG — Frequently Asked Questions
Quick answers to the most common questions about buying PFG stock.
What is Principal Financial Group, Inc.'s P/E ratio?
Principal Financial Group, Inc.'s current P/E ratio is 20.9x. The historical average is 16.6x. This places it at the 84th percentile of its historical range.
What is Principal Financial Group, Inc.'s EV/EBITDA?
Principal Financial Group, Inc.'s current EV/EBITDA is 14.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.7x.
What is Principal Financial Group, Inc.'s ROE?
Principal Financial Group, Inc.'s return on equity (ROE) is 9.9%. The historical average is 11.2%.
Is PFG stock overvalued?
Based on historical data, Principal Financial Group, Inc. is trading at a P/E of 20.9x. This is at the 84th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Principal Financial Group, Inc.'s dividend yield?
Principal Financial Group, Inc.'s current dividend yield is 2.77% with a payout ratio of 57.7%.
What are Principal Financial Group, Inc.'s profit margins?
Principal Financial Group, Inc. has 45.2% gross margin and 9.1% operating margin.
How much debt does Principal Financial Group, Inc. have?
Principal Financial Group, Inc.'s Debt/EBITDA ratio is 2.5x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.