Principal Financial Group, Inc. (PFG) Revenue History
Annual and quarterly revenue from 2000 to present
PFG Revenue Over Time (2000–2025)
PFG Revenue Growth History
16 of 25 years with positive growth- FY2000 revenue growth
- N/A
- FY2001 revenue growth
- -5.0%
- FY2002 revenue growth
- -2.1%
- FY2003 revenue growth
- +4.7%
- FY2004 revenue growth
- +3.9%
- FY2005 revenue growth
- +8.5%
- FY2006 revenue growth
- +9.6%
- FY2007 revenue growth
- +10.5%
- FY2008 revenue growth
- -8.9%
- FY2009 revenue growth
- -10.9%
- FY2010 revenue growth
- +3.9%
- FY2011 revenue growth
- -5.7%
- FY2012 revenue growth
- +6.3%
- FY2013 revenue growth
- +0.8%
- FY2014 revenue growth
- +12.8%
- FY2015 revenue growth
- +14.2%
- FY2016 revenue growth
- +3.6%
- FY2017 revenue growth
- +13.7%
- FY2018 revenue growth
- +1.0%
- FY2019 revenue growth
- +13.9%
- FY2020 revenue growth
- -9.1%
- FY2021 revenue growth
- -2.1%
- FY2022 revenue growth
- +21.5%
- FY2023 revenue growth
- -22.1%
- FY2024 revenue growth
- +18.0%
- FY2025 revenue growth
- -3.1%
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.62B | +25.4% |
| Q2 2026 | $3.91B | +6.4% |
| Q1 2026 | $3.53B | -4.5% |
| Q4 2025 | $4.58B | -3.7% |
| Q3 2025 | $3.68B | +22.2% |
| Q2 2025 | $3.67B | -14.8% |
| Q1 2025 | $3.70B | -8.8% |
| Q4 2024 | $4.75B | +76.6% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
PFG's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
PFG Revenue Analysis (2000–2025)
Current Revenue & Growth
As of November 8, 2026, Principal Financial Group, Inc. (PFG) generated trailing twelve-month (TTM) revenue of $16.63 billion, reflecting exceptional growth of +25.4% year-over-year. The most recent quarter (Q3 2026) recorded $4.62 billion in revenue, up 18.2% sequentially.
Historical Growth Trajectory
PFG's 5-year compound annual growth rate (CAGR) stands at +1.2%, indicating moderate growth over time. The 3-year CAGR of -3.8% is below the 5-year average, signalling a growth deceleration in recent years. Principal Financial Group, Inc.'s highest annual revenue of $17.54 billion was recorded in 2022.
Revenue by Segment
PFG's revenue is primarily driven by Segment Retirement and Investor Services (50%), Benefits and Protection (30%), and Principal Asset Management (17%). With over half of revenue concentrated in Segment Retirement and Investor Services, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Financial Services sector peers — including MET (+9.0% YoY), PRU (+5.9% YoY), and LNC (+7.2% YoY) — PFG has outperformed the peer group in revenue growth. Compare PFG vs MET →
PFG Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| PFGCurrent | $16.6B | +25.4% | +1.2% | 9.1% | |
 MET | $77.1B | +9.0% | +2.6% | 6.0% | |
 PRU | $61.0B | +5.9% | +1.3% | 7.6% | |
 LNC | $18.2B | +7.2% | +0.7% | 7.3% | |
 UNM | $13.1B | -4.2% | -0.1% | 7.2% | |
 VOYA | $7.4B | -2.8% | -0.2% | 3.5% |
PFG Historical Revenue Data (2000–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $15.63B | -3.1% | $7.06B | 45.2% | $1.42B | 9.1% |
| 2024 | $16.13B | +18.0% | $7.35B | 45.6% | $1.89B | 11.7% |
| 2023 | $13.67B | -22.1% | $5.90B | 43.2% | $738.8M | 5.4% |
| 2022 | $17.54B | +21.5% | $11.04B | 63.0% | $5.99B | 34.1% |
| 2021 | $14.43B | -2.1% | $7.08B | 49.0% | $1.91B | 13.2% |
| 2020 | $14.74B | -9.1% | $6.46B | 43.8% | $1.69B | 11.5% |
| 2019 | $16.22B | +13.9% | $6.32B | 38.9% | $1.69B | 10.4% |
| 2018 | $14.24B | +1.0% | $6.04B | 42.5% | $1.78B | 12.5% |
| 2017 | $14.09B | +13.7% | $6.27B | 44.5% | $2.25B | 16.0% |
| 2016 | $12.39B | +3.6% | $5.48B | 44.2% | $1.59B | 12.8% |
| 2015 | $11.96B | +14.2% | $5.27B | 44.0% | $1.43B | 12.0% |
| 2014 | $10.48B | +12.8% | $5.25B | 50.1% | $1.49B | 14.3% |
| 2013 | $9.29B | +0.8% | $4.61B | 49.6% | $1.12B | 12.1% |
| 2012 | $9.22B | +6.3% | $4.09B | 44.4% | $960.0M | 10.4% |
| 2011 | $8.67B | -5.7% | $4.05B | 46.8% | $872.8M | 10.1% |
PFG Chart Terminal
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Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
26+ years return with dividends reinvested.
Peer Comparison
Compare growth, multiples, and margins vs sector.
PFG — Frequently Asked Questions
Quick answers to the most common questions about buying PFG stock.
Is PFG's revenue growth accelerating or slowing?
PFG revenue growth is accelerating. TTM revenue reached $16.6B, up +25.4% year-over-year — ahead of the 5-year CAGR of +1.2%. This indicates the business is expanding faster than its historical baseline.
What is PFG's revenue history from 2000 to 2026?
Principal Financial Group, Inc. (PFG) revenue history spans 2000 to 2026. TTM revenue as of 2026 is $16.6B, growing at +25.4% YoY. The 5-year CAGR is +1.2%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is PFG's long-term revenue growth rate (CAGR)?
Principal Financial Group, Inc.'s 5-year revenue CAGR of +1.2% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +25.4% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for PFG.
Why does PFG's quarterly revenue fluctuate?
PFG quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Principal Financial Group, Inc.'s revenue data from 2000 to 2026 shows full historical quarterly detail on this page.
How is PFG's revenue distributed by segment?
PFG reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does PFG's revenue compare to industry peers?
Principal Financial Group, Inc. (PFG) with TTM revenue of $16.6B and +25.4% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.