Principal Financial Group, Inc. (PFG) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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PFG Revenue Growth
Revenue Breakdown (FY 2025)
PFG's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
PFG Revenue Analysis (2014–2025)
As of May 8, 2026, Principal Financial Group, Inc. (PFG) generated trailing twelve-month (TTM) revenue of $15.63 billion, reflecting slight decline in growth of -3.7% year-over-year. The most recent quarter (Q4 2025) recorded $4.58 billion in revenue, up 24.3% sequentially.
Looking at the longer-term picture, PFG's 5-year compound annual growth rate (CAGR) stands at +1.2%, indicating moderate growth over time. The company achieved its highest annual revenue of $17.54 billion in 2022.
Revenue diversification analysis shows PFG's business 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 maintains significant focus in this area while developing other growth vectors.
When compared to Financial Services sector peers including MET (+6.1% YoY), PRU (+1.9% YoY), and LNC (+1.6% YoY), PFG has underperformed the peer group in terms of 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 | $15.6B | -3.7% | +1.2% | 9.1% | |
 MET | $77.1B | +6.1% | +2.6% | 6.0% | |
 PRU | $60.8B | +1.9% | +1.3% | 7.9% | |
 LNC | $18.2B | +1.6% | +0.7% | 7.3% | |
 UNM | $13.1B | +4.8% | -0.1% | 7.2% | |
 VOYA | $7.5B | - | - | 3.5% |
PFG Historical Revenue Data (2014–2025)
| 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% |
Full PFG Stock Analysis
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Start ComparisonPFG — 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 slowed to -3.7%, below the 5-year CAGR of +1.2%. TTM revenue is $15.6B. The deceleration marks a shift from historical growth rates.
What is PFG's long-term revenue growth rate?
Principal Financial Group, Inc.'s 5-year revenue CAGR of +1.2% reflects the variable expansion pattern. Current YoY growth of -3.7% is near this long-term average.
How is PFG's revenue distributed by segment?
PFG reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.