Loading…
Principal Financial Group, Inc. provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services. This segment offers products and services for defined contribution plans, including 401(k) and 403(b) plans, defined benefit plans, nonqualified executive benefit plans, employee stock ownership plans, equity compensation, and pension risk transfer services; individual retirement accounts; investment only products; and mutual funds, individual variable annuities, registered index-linked annuities, and bank products, as well as trust and custody services. The Principal Asset Management segment provides equity, fixed income, real estate, and other alternative investments, as well as fund offerings. This segment also offers pension accumulation products and services, mutual funds, asset management, income annuities, and life insurance accumulation products, as well as voluntary savings plans. The Benefits and Protection segment provides specialty benefits, such as specialty benefits group dental and vision insurance, group life and other insurance, and group and individual disability insurance, as well as administers group dental, disability, and vision benefits; and individual life insurance products comprising universal, variable universal, indexed universal, and term life insurance products. This segment serves insurance solutions for small and medium-sized businesses and their owners, as well as employees. The company was founded in 1879 and is based in Des Moines, Iowa.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $15.6B | - | $1.2B | $4.4B | 10.0% | -3.1% | -24.6% |
| 2024 | $16.1B | - | $1.6B | $4.5B | 14.2% | 18.0% | 152.1% |
| 2023 | $13.7B | - | $623M | $3.7B | 5.7% | -22.1% | -86.9% |
| 2022 | $17.5B | - | $4.8B | $3.1B | 47.7% | - | - |
| 2021 |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 17,536.10 | 13,665.80 | 16,127.70 | 15,625.50 |
| Operating Revenue | - | 17,536.10 | 13,665.80 | 16,127.70 | 15,625.50 |
| Total Expenses | - | 11,549.10 | 12,927 | 14,238.10 | 14,209.50 |
| Pretax Income | - | 5,987 | 738.80 | 1,889.60 | 1,416 |
| Tax Provision | - | 1,189.50 | 68.70 | 291.70 | 160.50 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 4,797.50 | 670.10 | 1,597.90 | 1,255.50 |
| Net Income From Continuing And Discontinued Operation | - | 4,756.90 | 623.20 | 1,571 | 1,185.10 |
| Net Income From Continuing Operation Net Minority Interest | - | 4,756.90 | 623.20 | 1,571 | 1,185.10 |
| Net Income | - | 4,756.90 | 623.20 | 1,571 | 1,185.10 |
| Net Income Common Stockholders | - | 4,756.90 | 623.20 | 1,571 | 1,185.10 |
| Net Income Including Noncontrolling Interests | - | 4,797.50 | 670.10 | 1,597.90 | 1,255.50 |
| Normalized Income | - | 4,756.90 | 623.20 | 1,571 | 1,185.10 |
| Diluted NI Availto Com Stockholders | - | 4,756.90 | 623.20 | 1,571 | 1,185.10 |
| Basic Average Shares | - | 251.10 | 236.44 | 226.23 | 222.80 |
| Diluted Average Shares | - | 255.30 | 236.44 | 226.23 | 225.70 |
| Reconciled Depreciation | - | 295.90 | 272.70 | 256.20 | 251.40 |
| Minority Interests | - | -40.60 | -46.90 | -26.90 | -70.40 |
| Other Operating Expenses | - | 4,962.20 | 5,072.10 | 5,363.90 | 5,433.80 |
| Loss Adjustment Expense | - | 6,492.10 | 7,765.70 | 8,774.30 | 8,684 |
| Net Policyholder Benefits And Claims | - | 6,492.10 | 7,765.70 | 8,774.30 | 8,684 |
| Policyholder Benefits Gross | - | 8,049.40 | 10,131.90 | 10,414.50 | 10,355.90 |
| Policyholder Benefits Ceded | - | 1,557.30 | 2,366.20 | 1,640.20 | 1,671.90 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Principal Financial Group, Inc.this co. | PFG | $22.4B | 18.87↑ premium | 1.88 | 10.0% | - |
| Cincinnati Financial Corporation | CINF | $24.9B | 10.39 | 1.56 | 15.0% | - |
| W. R. Berkley Corporation | WRB | $24.7B | 13.87 | 2.54 | 18.3% | - |
| Willis Towers Watson Public Limited Company | WTW | $24.4B | 15.22 | 3.06 | 20.1% | 10.72 |
| Regions Financial Corporation |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| RF |
| $24.3B |
| 11.25 |
| 1.37 |
| 12.2% |
| - |
| Synchrony Financial | SYF | $23.8B | 6.86 | 1.42 | 20.7% | - |
| KeyCorp | KEY | $23.5B | 12.85 | 1.31 | 10.2% | - |
| T. Rowe Price Group, Inc. | TROW | $22.9B | 11.25 | 2.11 | 18.8% | 6.48 |
| Loews Corporation | L | $21.6B | 12.96 | 1.16 | 8.9% | - |
| Peer Median | - | 12.05 | 1.49 | 16.7% | 8.60 | |