A Business at a Glance
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Item 1. Business Principal Financial Group, Inc. (“PFG”) is a leader in global financial services offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and workplace benefits and protection solutions through our diverse family of financial services companies. We had $1,814.6 billion in assets under administration (“AUA”), including $781.0 billion in assets under management (“AUM”) as of December 31, 2025. Our global asset management businesses serve a broad range of institutional, retirement, high net worth, and retail investors worldwide. Our focused investment teams provide diverse, long-term investment capabilities including equity, fixed income, real estate, and other alternative investments, as well as fund offerings.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 15.6B | 15.6B | 16.1B | 13.7B | 17.5B | 14.4B |
| Net Income | 1.2B | 1.2B | 1.6B | 623M | 4.8B | 1.6B |
| EPS | $5.25 | $5.25 | $6.68 | $2.55 | $18.63 | $5.79 |
| Free Cash Flow | 4.4B | 4.4B | 4.5B | 3.7B | 3.1B | 3.1B |
| ROIC | 4.4% | 7.7% | 10.4% | 4.2% | 34.0% | 7.6% |
| Gross Margin | 9.1% | 9.1% | 11.7% | 5.4% | 34.1% | 13.2% |
| Debt/Equity | 1.77 | 1.77 | 1.85 | 1.85 | 2.07 | 0.26 |
| Dividends/Share | $3.03 | $3.08 | $2.85 | $2.56 | $2.52 | $2.40 |
| Operating Income | 1.4B | 1.4B | 1.9B | 739M | 6.0B | 1.9B |
| Operating Margin | 9.1% | 9.1% | 11.7% | 5.4% | 34.1% | 13.2% |
| ROE | 10.0% | 10.3% | 14.2% | 5.7% | 47.7% | 9.5% |
| Shares Outstanding | 226M | 226M | 235M | 244M | 255M | 273M |
PRINCIPAL FINANCIAL GROUP INC passes 3 of 9 quality checks, indicating weak fundamentals.
PRINCIPAL FINANCIAL GROUP INC trades at 17.8x trailing earnings, compared to its 15-year median P/E of 9.0x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 4.6x vs a median of 3.8x. The company's 5-year average ROIC is 12.8% with a gross margin of 14.7%. Total shareholder yield (dividends + buybacks) is 7.5%. At current prices, the estimated annualized return to fair value is +1.8%.
PRINCIPAL FINANCIAL GROUP INC (PFG) has a current P/E ratio of 17.8, compared to its historical median P/E of 9.0. The stock is currently considered Expensive based on its historical valuation range.
PRINCIPAL FINANCIAL GROUP INC (PFG) has a 5-year average return on invested capital (ROIC) of 12.8%. This indicates solid capital allocation.
PRINCIPAL FINANCIAL GROUP INC (PFG) has a market capitalization of $21.1B. It is classified as a large-cap stock.
Yes, PRINCIPAL FINANCIAL GROUP INC (PFG) pays a dividend with a trailing twelve-month yield of 3.24%. The company also returns capital through share buybacks, with a buyback yield of 4.27%.
Based on historical P/E analysis, PRINCIPAL FINANCIAL GROUP INC (PFG) appears expensive. The current P/E of 17.8 is 98% above its historical median of 9.0. The estimated fair value CAGR (P/E method) is -2.0%.
PRINCIPAL FINANCIAL GROUP INC (PFG) operates in the Accident & Health Insurance industry, within the Financials sector.
PRINCIPAL FINANCIAL GROUP INC (PFG) reported annual revenue of $15.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
PRINCIPAL FINANCIAL GROUP INC (PFG) has a net profit margin of 7.6%. This is a modest margin.
PRINCIPAL FINANCIAL GROUP INC (PFG) generated $4.4 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
PRINCIPAL FINANCIAL GROUP INC (PFG) has a debt-to-equity ratio of 1.77. This indicates higher leverage, which may increase financial risk.
PRINCIPAL FINANCIAL GROUP INC (PFG) reported earnings per share (EPS) of $5.25 in its most recent fiscal year.
PRINCIPAL FINANCIAL GROUP INC (PFG) has a return on equity (ROE) of 10.3%. This indicates moderate shareholder returns.
PRINCIPAL FINANCIAL GROUP INC (PFG) has a 5-year average gross margin of 14.7%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for PRINCIPAL FINANCIAL GROUP INC (PFG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
PRINCIPAL FINANCIAL GROUP INC (PFG) has a book value per share of $52.65, based on its most recent annual SEC filing.