Principal Financial Group Inc (PFG)

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.

Symbol
PFG
Exchange
Nasdaq
Sector
Financial Services
Industry
Asset Management
Market cap
$24.23B
52 week range
77.9 - 121.18

Valuation

Share price
$111.96 (close of 2026-10-02)
P/E (TTM)
15.84x
Price to book
2.05x
Price to free cash flow
6.47x
Enterprise value
$24.13B
Book value per share
$54.74

Price performance

PeriodChange
1 day-0.25%
5 days-2.45%
1 month+0.58%
3 months+0.98%
6 months+24.26%
Year to date+26.92%
1 year+32.87%
3 years+59.46%
5 years+70.59%
10 years+117.36%
All time+433.14%

Members of Congress who disclosed PFG trades

Lisa McClain · Alan Armstrong

Super investors holding PFG

Mairs & Power (Mairs & Power Inc) · Ken Griffin (Citadel) · Ray Dalio (Bridgewater Associates)

Profitability and growth

Return on equity
9.94%
Return on assets
0.35%
Net margin
7.58%
EBITDA margin
10.22%
Revenue growth
-3.11%
Net income growth
-24.56%
Free cash flow growth
-1.44%

Cash flow and balance sheet

Free cash flow yield (TTM)
15.46%
Net debt to EBITDA
-0.06x

Latest reported year

Period end
2025-12-31
Fiscal year
2025
Revenue
$15.63B
EBITDA
$1.60B
Net income
$1.19B
Earnings per share
$5.32
Shares outstanding
222.80M

Income statement by year

Period endRevenueNet incomeEPS
2025-12-31$15.63B$1.19B$5.32
2024-12-31$16.13B$1.57B$6.77
2023-12-31$13.67B$623.20M$2.58
2022-12-31$17.54B$4.76B$18.94
2021-12-31$14.43B$1.58B$5.87
2020-12-31$14.74B$1.40B$5.08
2019-12-31$16.22B$1.39B$5.00
2018-12-31$14.24B$1.55B$5.41
2017-12-31$14.09B$2.31B$8.00
2016-12-31$12.39B$1.32B$4.55

Margins and returns by year

Period endNet marginReturn on equity
2025-12-317.58%9.94%
2024-12-319.74%14.11%
2023-12-314.56%5.69%
2022-12-3127.13%47.48%
2021-12-3110.95%13.02%
2020-12-319.47%8.40%
2019-12-318.59%9.49%
2018-12-3110.86%13.50%
2017-12-3116.39%17.88%
2016-12-3110.62%12.79%

Cash and debt by year

Period endCashDebt
2025-12-31$4.43B$3.93B
2024-12-31$4.21B$3.96B
2023-12-31$4.71B$3.93B
2022-12-31$4.85B$4.00B
2021-12-31$2.33B$4.28B
2020-12-31$2.85B$4.28B
2019-12-31$2.52B$3.73B
2018-12-31$2.98B$3.26B
2017-12-31$2.47B$3.18B
2016-12-31$2.72B$3.13B

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$4.54B$109.90M
2024-12-31$4.60B$108.70M
2023-12-31$3.79B$99.40M
2022-12-31$3.17B$91.30M
2021-12-31$3.25B$96.10M
2020-12-31$3.71B$87.20M
2019-12-31$5.49B$82.60M
2018-12-31$5.16B$77.40M
2017-12-31$4.19B$82.70M
2016-12-31$3.86B$84.40M

Dividend history

Most recent payment
2026-09-03
Paid in the last twelve months
$3.25
Payment dateDividend per share
2026-09-03$0.84
2026-06-01$0.82
2026-03-11$0.80
2025-12-03$0.79
2025-09-04$0.78
2025-06-02$0.76
2025-03-12$0.75
2024-12-02$0.73

Investor relations

Next earnings report

Next confirmed report
2026-10-26
Consensus EPS estimate
$2.54

Past earnings dates

ReportedFiscal periodEPS estimate
2026-07-27Jun/2026$2.33
2026-04-23Mar/2026$2.01
2026-02-09Dec/2025$2.23
2025-10-27Sep/2025$2.18
2025-07-28Jun/2025$1.98
2025-04-24Mar/2025$1.85
2025-02-06Dec/2024$1.95
2024-10-24Sep/2024$2.01

Filings and sources

Company website
principal.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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Understanding these figures

Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

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