The company maintains a high degree of financial leverage with total liabilities reaching $730.5 billion against an equity base of only $2.6 billion as of 2026Q1, leaving the capital structure sensitive to interest rate shifts.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Total Assets | 765.4M | 773.74B | 735.59B | 721.12B | 689.03B | 937.58B | 940.72B | 896.55B | 815.08B | 832.14B | 783.96B | 757.25B | 766.65B | 731.78B |
| Asset Growth % | -86.49% | 5.19% | 2.01% | 4.66% | -26.51% | -0.33% | 4.93% | 10% | -2.05% | 6.14% | 3.53% | -1.23% | 4.77% | - |
| Total Investment Assets | 2M | 666.77B | 474M | 21.06B | 24.07B | 35.13B | 16.1B | 31.53B | 27.89B | 18.5B | 25.43B | 16.64B | 0 | 0 |
| Long-Term Investments | 666.77B | 666.77B | 0 | 21.06B | 19.48B | 20.04B | 16.1B | 13.22B | 12.06B | 11.7B | 8.09B | 8.53B | 0 | 0 |
| Short-Term Investments | 0 | 6.41B | 474M | 0 | 4.59B | 15.09B | 0 | 18.31B | 15.83B | 6.8B | 17.35B | 8.11B | 0 | 0 |
| Total Current Assets | 59.15B | 19.75B | 8.28B | 19.42B | 24.9B | 30.88B | 37.07B | 38.12B | 34.64B | 24.66B | 34.73B | 28.96B | 14.92B | 11.44B |
| Cash & Equivalents | 15.94B | 19.71B | 18.5B | 19.42B | 17.3B | 12.93B | 13.86B | 16.47B | 15.49B | 14.54B | 14.18B | 17.75B | 14.92B | 11.44B |
| Receivables | 87.36B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 0 | -6.38B | 0 | 0 | 7.65B | 17.99B | 23.37B | 21.79B | 34.64B | 24.66B | 34.73B | 0 | 0 | 0 |
| Goodwill & Intangibles | 21.67B | 0 | 22.34B | 22.46B | 22.04B | 20.77B | 23.75B | 24.64B | 23.12B | 21.77B | 21.12B | 20.67B | 19.93B | 21.33B |
| Goodwill | 0 | 0 | 1.05B | 1.07B | 876M | 1.8B | 3.04B | 3.01B | 863M | 843M | 833M | 824M | 831M | 839M |
| Intangible Assets | 0 | 0 | 21.29B | 21.39B | 21.17B | 18.96B | 20.71B | 21.62B | 22.26B | 20.93B | 20.29B | 19.85B | 19.1B | 20.49B |
| PP&E (Net) | 0 | 0 | 0 | 404M | 340M | 395M | 466M | 554M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 0 | 87.26B | 713.25B | 630.38B | 618.05B | 185.91B | 45.5B | 44.48B | 745.25B | 774.01B | 720.03B | 699.09B | 731.8B | 699.01B |
| Total Liabilities | 730.47B | 738.16B | 705.46B | 691.34B | 657.11B | 874.97B | 872.51B | 832.83B | 766.05B | 777.63B | 737.87B | 715.33B | 25.89B | 26.86B |
| Total Debt | 19.83B | 20.3B | 28.77B | 27.24B | 28.02B | 30.23B | 32.35B | 32.13B | 30.73B | 28.47B | 28.93B | 37.29B | 25.89B | 26.86B |
| Net Debt | 3.89B | 587M | 2.12B | 837M | 10.72B | 17.3B | 18.5B | 15.65B | 15.24B | 13.93B | 14.75B | 19.54B | 10.97B | 15.42B |
| Long-Term Debt | 18.88B | 18.86B | 20.62B | 20.26B | 20.28B | 18.9B | 20.02B | 19.92B | 18.33B | 18.69B | 20.19B | 28.19B | 25.89B | 26.86B |
| Short-Term Debt | 946M | 1.44B | 7.84B | 6.78B | 7.48B | 11.04B | 11.97B | 11.77B | 12.4B | 9.78B | 8.74B | 9.1B | 0 | 0 |
| Total Current Liabilities | 20.47B | 1.72B | 17.46B | 13.26B | 13.58B | 24.8B | 0 | 27.36B | 24.27B | 23.78B | 23.48B | 21.31B | 0 | 0 |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 19.52B | 279M | 9.62B | 6.48B | 5.82B | 4.25B | -24B | 4.21B | -20.34B | -19.43B | -19.15B | -17.81B | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 691.12B | 717.58B | 684.84B | 670.88B | 636.46B | 855.77B | 0 | 0 | 747.71B | 758.93B | 717.68B | 687.14B | 0 | 0 |
| Total Equity | 31.98B | 35.58B | 30.13B | 29.79B | 31.92B | 62.61B | 68.21B | 63.72B | 49.03B | 54.51B | 46.09B | 41.92B | 42.35B | 35.88B |
| Equity Growth % | 34.22% | 18.11% | 1.14% | -6.68% | -49.02% | -8.21% | 7.05% | 29.96% | -10.05% | 18.28% | 9.93% | -1.01% | 18.03% | - |
| Shareholders Equity | 2.61B | 32.44B | 27.87B | 27.82B | 30.59B | 61.88B | 67.42B | 63.12B | 48.62B | 54.24B | 45.86B | 41.89B | 41.77B | 35.28B |
| Minority Interest | 2.61B | 3.14B | 2.25B | 1.97B | 1.33B | 732M | 785M | 604M | 414M | 275M | 225M | 33M | 579M | 603M |
| Retained Earnings | 34.93B | 34.83B | 33.19B | 32.35B | 31.71B | 36.65B | 30.75B | 32.99B | 30.47B | 28.67B | 21.95B | 18.93B | 14.89B | 14.53B |
| Common Stock | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 6M |
| Accumulated OCI | -3.45B | -3.08B | -6.71B | -6.5B | -3.81B | 21.32B | 30.74B | 24.04B | 10.91B | 17.07B | 14.62B | 10.67B | 16.05B | 8.68B |
| Return on Equity (ROE) | 10.23% | 10.88% | 9.1% | 8.06% | -4.54% | 13.56% | -0.57% | 7.43% | 7.78% | 15.44% | 9.81% | 13.39% | 3.46% | -1.9% |
| Return on Assets (ROA) | 0.6% | 0.47% | 0.37% | 0.35% | -0.26% | 0.94% | -0.04% | 0.49% | 0.49% | 0.96% | 0.56% | 0.74% | 0.18% | -0.09% |
| Equity / Assets | 4177.55% | 4.6% | 4.1% | 4.13% | 4.63% | 6.68% | 7.25% | 7.11% | 6.02% | 6.55% | 5.88% | 5.54% | 5.52% | 4.9% |
| Debt / Equity | 0.62x | 0.57x | 0.96x | 0.91x | 0.88x | 0.48x | 0.47x | 0.50x | 0.63x | 0.52x | 0.63x | 0.89x | 0.61x | 0.75x |
| Book Value per Share | 91.51 | 100.60 | 83.85 | 81.70 | 85.73 | 160.49 | 172.33 | 155.07 | 115.04 | 125.03 | 103.20 | 91.06 | 90.20 | 77.15 |
| Tangible BV per Share | 91.51 | 100.60 | 21.66 | 20.10 | 26.53 | 107.26 | 112.34 | 95.12 | 60.80 | 75.10 | 55.91 | 46.16 | 47.75 | 31.29 |
Commercial Real Estate Exposure
As reported in recent financial statements, Prudential's equity base has experienced notable volatility, shifting from $27.2 billion in 2024Q1 to a peak of $32.4 billion in 2025Q4, which suggests that the company's capital accumulation is highly sensitive to market-driven valuation adjustments rather than organic growth.
The oscillation in equity levels appears to reflect the impact of interest rate movements on the valuation of the fixed-income portfolio and the subsequent re-measurement of insurance liabilities under LDTI accounting. Investors should monitor whether this capital volatility constrains the company's ability to maintain consistent dividend payouts or pursue strategic capital deployment.
Based on quarterly filings, claims and loss reserves have fluctuated significantly, reaching $10.1 billion in 2025Q3 before declining to $8.8 billion by 2025Q4, indicating that the company's liability profile is subject to lumpy, event-driven payouts that complicate long-term reserve adequacy assessments.
The variance in reserve levels suggests that Prudential's insurance segments are managing through periods of uneven claim activity, potentially linked to mortality experience or policy maturity cycles. This volatility warrants further investigation into whether current reserve levels adequately account for potential long-tail inflation risks inherent in the legacy blocks.
According to the provided balance sheet data, total liabilities have consistently hovered near the $700 billion to $740 billion range, which, when compared to the equity base, suggests a high degree of financial leverage that remains sensitive to shifts in the broader interest rate environment.
The company's capital structure appears heavily reliant on policyholder reserves, which function as a form of low-cost leverage. However, the persistent gap between total assets and liabilities indicates that any sustained compression in asset values could rapidly erode the equity buffer, necessitating a cautious view on capital adequacy.
As indicated by the company's investment portfolio composition, significant exposure to commercial real estate debt and equity through PGIM and the general account poses a non-obvious risk, as evidenced by the current downturn in office valuations and potential for future credit migration.
While the asset management arm provides a structural yield advantage, the concentration in real estate assets may create a hidden vulnerability if property valuations continue to face downward pressure. Analysts should scrutinize the quality of these holdings, as they represent a material portion of the earning assets supporting the company's long-term insurance liabilities.
Quick answers to the most common questions about buying PRH stock.
As of 2025, Prudential Financial, Inc. 5.95 (PRH) had total assets of $773.74B including $19.75B in current assets.
Prudential Financial, Inc. 5.95 (PRH) carries total debt of $20.30B, offset by $26.13B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Prudential Financial, Inc. 5.95 (PRH) has total shareholders' equity (book value) of $32.44B ($100.60 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Prudential Financial, Inc. 5.95 (PRH) reported a current ratio of 11.47x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.