Principal Financial Group, Inc. (PFG) Financial Ratios
26 years of historical data (2000–2025) · Financial Services · Insurance - Diversified
EV/EBITDA
↑
13.06
↑+27% vs avg
5yr avg: 10.30
30Y Low3.3·High18.3
P/FCF
↓
4.96
-8% vs avg
5yr avg: 5.39
30Y Low2.4·High7.4
P/B Ratio
↑
1.85
+14% 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 19.3x earnings, 27% 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 13.4x, the stock trades at a premium of 45%. On a free-cash-flow basis, the stock trades at 5.0x P/FCF, 8% below 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 | $22.0B | $19.9B | $17.5B | $19.2B | $21.4B | $19.7B | $13.7B | $15.5B | $12.8B | $20.7B | $16.9B |
| Enterprise Value | $21.8B | $19.7B | $17.4B | $18.5B | $20.7B | $21.8B | $15.2B | $16.8B | $13.1B | $21.4B | $17.4B |
| P/E Ratio → | 19.34 | 16.80 | 11.59 | 30.85 | 4.50 | 12.49 | 9.82 | 11.09 | 8.26 | 8.95 | 12.86 |
| P/S Ratio | 1.41 | 1.27 | 1.09 | 1.41 | 1.22 | 1.37 | 0.93 | 0.95 | 0.90 | 1.47 | 1.37 |
| P/B Ratio | 1.85 | 1.61 | 1.53 | 1.72 | 2.08 | 1.20 | 0.81 | 1.03 | 1.08 | 1.59 | 1.63 |
| P/FCF | 4.96 | 4.49 | 3.86 | 5.21 | 7.01 | 6.39 | 3.78 | 2.88 | 2.52 | 5.14 | 4.57 |
| P/OCF | 4.85 | 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 13.1x EBITDA, 27% above its 5-year average of 10.3x. The Financial Services sector median is 11.4x, placing the stock at a 14% 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 | 13.06 | 11.80 | 8.11 | 18.32 | 3.29 | 9.96 | 7.83 | 8.73 | 6.58 | 8.76 | 9.78 |
| EV / EBIT | 15.38 | 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 21.2%. 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 5.7%.
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 (39% below the sector average of 4.1x). 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 7.1% to shareholders annually — split between a 3.0% dividend yield and 4.1% buyback yield. A payout ratio of 57.7% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 5.2% (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 | 3.0% | 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 | 5.2% | 6.0% | 8.6% | 3.2% | 22.2% | 8.0% | 10.2% | 9.0% | 12.1% | 11.2% | 7.8% |
| FCF Yield | 20.2% | 22.3% | 25.9% | 19.2% | 14.3% | 15.6% | 26.5% | 34.7% | 39.7% | 19.4% | 21.9% |
| Buyback Yield | 4.1% | 4.5% | 6.0% | 3.8% | 7.9% | 4.7% | 2.2% | 1.8% | 5.3% | 1.1% | 1.6% |
| Total Shareholder Yield | 7.1% | 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 | $22B | 19.3 | 13.1 | 5.0 | 45.2% | 9.1% | 9.9% | 9.0% | 2.5 |
 MET | $52B | 16.7 | 8.8 | 2.9 | 36.4% | 6.0% | 11.9% | 13.1% | 3.5 |
 PRU | $35B | 9.8 | 7.8 | 5.6 | 42.0% | 7.9% | 10.9% | 10.0% | 4.7 |
 LNC | $6B | 2.0 | 1.7 | — | 25.5% | 22.4% | 43.2% | 32.7% | 1.5 |
 UNM | $13B | 18.8 | 15.8 | 23.3 | 38.2% | 7.2% | 6.7% | 4.7% | 3.7 |
 VOYA | $7B | 12.7 | 32.0 | 5.8 | 51.8% | 3.5% | 10.0% | 2.1% | 8.1 |
 EQH | $12B | -9.1 | — | 18.1 | 79.1% | -10.2% | -51.5% | — | — |
 BEN | $16B | 34.2 | 22.8 | 17.8 | 80.3% | 6.9% | 3.7% | 1.6% | 11.7 |
 IVZ | $12B | -17.1 | 16.5 | 8.4 | 43.2% | -10.9% | -2.0% | -2.3% | 8.2 |
 TROW | $23B | 11.5 | 7.9 | 15.6 | 62.7% | 29.9% | 17.8% | 13.3% | 0.3 |
 AMP | $46B | 13.1 | 8.2 | 15.8 | 50.4% | 25.5% | 60.5% | 31.3% | 1.2 |
| Financial Services Median | — | 13.4 | 11.4 | 10.6 | 63.4% | 21.2% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 26 years · Updated daily
Full PFG Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
See PFG's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs PFG Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare PFG vs MET
Side-by-side business, growth, and profitability comparison vs MetLife, Inc..
Start ComparisonPFG — 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 19.3x. 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 13.1x. 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 19.3x. 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 2.98% 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.