Balance Sheet Principal Financial Group, Inc.

Equities

PFG

US74251V1026

Life & Health Insurance

Real-time Estimate Cboe BZX Other stock markets 10:32:01 2026-02-18 am EST			5-day change	1st Jan Change
92.90 ^USD	+1.01%		-0.09%	+5.12%

Feb. 17	Jefferies Adjusts Price Target on Principal Financial Group to $83 From $82, Maintains Hold Rating	MT
Feb. 11	Principal Financial Group, Inc. Presents at Bank of America Financial Services Conference 2026, Feb-11-2026 08:50 AM

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Published financial data: PRINCIPAL FINANCIAL GROUP, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Premiums and Annuity Revenues	6.04B	4.84B	5.34B	6.47B	6.85B
Total Interest And Dividend Income	3.89B	4.41B	3.83B	4.09B	4.45B
Gain (Loss) on Sale of Investments, Total (Rev)	303M	2.5M	491M	92.8M	60.4M
Other Revenues, Total	4.51B	5.01B	7.83B	3.01B	4.77B
Total Revenues	14.74B	14.26B	17.49B	13.67B	16.13B
Policy Benefits	8.4B	7.19B	6.47B	7.83B	8.84B
Selling General & Admin Expenses, Total	4.65B	4.99B	4.97B	5.07B	5.36B
Total Operating Expenses	13.05B	12.18B	11.43B	12.9B	14.21B
Operating Income	1.69B	2.08B	6.06B	768M	1.92B
Interest Expense, Total	-	-	-	-	-
Other Non Operating Income (Expenses)	-	-	-	-29.1M	-30.3M
EBT, Excl. Unusual Items	1.69B	2.08B	6.06B	739M	1.89B
Asset Writedown	-	-	-	-	-
EBT, Incl. Unusual Items	1.69B	2.08B	6.06B	739M	1.89B
Income Tax Expense	265M	326M	1.21B	68.7M	292M
Earnings From Continuing Operations	1.43B	1.76B	4.85B	670M	1.6B
Net Income to Company	1.43B	1.76B	4.85B	670M	1.6B
Minority Interest	-32.7M	-46.8M	-40.6M	-46.9M	-26.9M
Net Income - (IS)	1.4B	1.71B	4.81B	623M	1.57B
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	1.4B	1.71B	4.81B	623M	1.57B
Net Income to Common Excl. Extra Items	1.4B	1.71B	4.81B	623M	1.57B
Per Share Items
Net EPS - Basic	5.08	6.36	19.16	2.58	6.77
Basic EPS - Continuing Operations	5.08	6.36	19.16	2.58	6.77
Basic Weighted Average Shares Outstanding	275M	269M	251M	241M	232M
Net EPS - Diluted	5.05	6.27	18.85	2.55	6.68
Diluted EPS - Continuing Operations	5.05	6.27	18.85	2.55	6.68
Diluted Weighted Average Shares Outstanding	277M	273M	255M	245M	235M
Normalized Basic EPS	3.73	4.67	14.92	1.72	4.97
Normalized Diluted EPS	3.71	4.6	14.68	1.7	4.9
Dividend Per Share	2.24	2.44	2.56	2.6	2.85
Payout Ratio	44.02	38.24	13.35	100.37	41.91
Supplemental Items
EBITDA	1.95B	2.36B	6.36B	1.04B	2.18B
EBITA	1.77B	2.16B	6.13B	836M	1.99B
EBIT	1.69B	2.08B	6.06B	768M	1.92B
EBITDAR	2.01B	2.43B	6.43B	1.11B	2.24B
Total Revenues (As Reported)	14.74B	14.26B	17.49B	13.67B	16.13B
Effective Tax Rate - (Ratio)	15.65	15.66	19.93	9.3	15.44
Total Current Taxes	72.9M	167M	8.5M	126M	284M
Deferred Domestic Taxes	155M	171M	1.21B	-63.1M	600K
Deferred Foreign Taxes	37M	-11.8M	-9.9M	5.9M	6.7M
Total Deferred Taxes	192M	159M	1.2B	-57.2M	7.3M
Normalized Net Income	1.03B	1.26B	3.75B	415M	1.15B
Interest on Long-Term Debt	1M	1M	1.2M	1.9M	2.6M
Non-Cash Pension Expense	19.1M	-26M	-27.2M	21.1M	13.6M
Supplemental Operating Expense Items
Net Rental Expense, Total	65.7M	75.7M	72.5M	65.3M	64M
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., Other (Total)	87.6M	96.1M	91.3M	99.4M	109M
Total Stock-Based Compensation	87.6M	96.1M	91.3M	99.4M	109M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Investment In Debt Securities	78.69B	78.05B	62.76B	65.46B	68.01B
Investment In Equity and Preferred Securities, Total	3.95B	4.61B	4.56B	5.18B	6.5B
Trading Asset Securities, Total	871M	656M	862M	916M	1.06B
Real Estate Owned	1.8B	2.08B	2.24B	2.35B	2.46B
Mortgage Loans	17.34B	19.67B	20.63B	20.14B	20.48B
Policy Loans	784M	760M	785M	809M	868M
Total Other Investments	1.07B	1.34B	1.26B	1.41B	1.54B
Total investments	104B	107B	93.09B	96.26B	101B
Cash And Equivalents	2.85B	2.33B	4.85B	4.71B	4.21B
Reinsurance Recoverable - (IS)	932M	1.19B	22.03B	14.53B	17.78B
Other Receivables - (Insurance Template)	2.26B	1.96B	5.68B	5.42B	1.96B
Deferred Policy Acquisition Costs - (BS)	3.41B	3.76B	4.69B	3.95B	4.01B
Separate Account Assets	176B	182B	155B	168B	173B
Net Property Plant And Equipment	1.02B	1.04B	996M	938M	769M
Goodwill	1.71B	1.63B	1.6B	1.61B	1.55B
Other Intangibles, Total	1.72B	1.6B	1.53B	1.47B	1.39B
Other Current Assets, Total	134M	113M	227M	6.31B	5.53B
Deferred Charges Long-Term	173M	193M	205M	219M	199M
Other Long-Term Assets, Total	1.97B	1.34B	1.97B	2.02B	2.02B
Total Assets	297B	305B	292B	305B	314B
Liabilities
Insurance And Annuity Liabilities	86.5B	85.6B	85.86B	87.72B	89.77B
Unpaid Claims	2.53B	2.66B	2.83B	1.41B	1.38B
Unearned Premiums	-	-	-	-	515M
Current Portion of Long-Term Debt	62.8M	334M	870M	357M	752M
Current Portion of Leases	78.4M	88.4M	86.2M	78M	75.2M
Short-Term Borrowings	84.7M	79.8M	80.7M	61.1M	153M
Long-Term Debt	4.28B	3.98B	3.67B	3.93B	3.53B
Long-Term Leases	203M	216M	193M	172M	144M
Separate Account Liability	176B	182B	155B	168B	173B
Current Income Taxes Payable	22.3M	15.5M	19.2M	11.9M	8.6M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	319M	194M	20.53B	19.77B	18.28B
Pension & Other Post Retirement Benefits	840M	634M	483M	481M	432M
Deferred Tax Liability Non-Current	2.33B	2.32B	1.21B	1.61B	1.71B
Other Non Current Liabilities	6.55B	9.73B	10.73B	10.63B	12.12B
Total Liabilities	280B	288B	282B	294B	302B
Common Stock, Total	4.8M	4.8M	4.9M	4.9M	4.9M
Additional Paid In Capital	10.32B	10.5B	10.74B	10.91B	11.1B
Retained Earnings	11.84B	12.88B	17.04B	16.68B	17.58B
Treasury Stock	-7.99B	-8.93B	-10.59B	-11.34B	-12.38B
Comprehensive Income and Other	2.38B	1.61B	-7.2B	-5.35B	-5.22B
Total Common Equity	16.56B	16.07B	10B	10.92B	11.09B
Minority Interest	314M	389M	303M	295M	383M
Total Equity	16.87B	16.46B	10.3B	11.21B	11.47B
Total Liabilities And Equity	297B	305B	292B	305B	314B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	273M	261M	243M	236M	226M
ECS Total Common Shares Outstanding	273M	262M	244M	236M	226M
Book Value / Share	60.59	61.4	41.07	46.17	49.01
Tangible Book Value	13.12B	12.84B	6.87B	7.84B	8.15B
Tangible Book Value Per Share	48.02	49.07	28.21	33.15	36.01
Total Debt	4.71B	4.7B	4.9B	4.6B	4.66B
Net Debt	1.86B	2.36B	54.2M	-108M	446M
Debt Equivalent of Unfunded Proj. Benefit Obligation	837M	634M	483M	481M	432M
Debt Equivalent Oper. Leases	526M	606M	580M	522M	512M
Minority Interest, Total (Incl. Fin. Div)	314M	389M	303M	295M	383M
Equity Method Investments, Total	1.91B	2.16B	2.72B	3.49B	3.97B
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	17.4K	18.6K	19.3K	19.8K	19.7K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	1.4B	1.71B	4.81B	623M	1.57B
Depreciation, Depletion & Amortization	178M	200M	225M	204M	190M
Amortization of Goodwill and Intangible Assets - (CF)	73.5M	75.3M	70.7M	68.6M	66.1M
Total Depreciation, Depletion & Amortization	252M	275M	296M	273M	256M
(Gain) Loss On Sale of Asset - (CF)	-143M	-148M	-514M	-298M	-87.7M
(Gain) Loss on Sale of Investments - (CF)	-60.5M	37.3M	172M	125M	-70.6M
Deferred Policy Acquisition Costs - (CF)	-	-	-	-	-
Amort. Of Deferred Policy Acq. Costs - (CF)	413M	318M	420M	428M	431M
Provision for Credit Losses	15.4M	-6.4M	34.3M	58.5M	101M
(Income) Loss On Equity Investments - (CF)	-10.6M	-166M	-103M	-110M	10.9M
Stock-Based Compensation (CF)	87.6M	96.1M	91.3M	99.4M	109M
Change in Trading Asset Securities	144M	99.9M	-340M	-56M	-97.5M
Change in Accounts Receivable	16.4M	-101M	-3.63B	-36.7M	53.1M
Change In Income Taxes	442M	160M	873M	-40.5M	106M
Change in insurance Reserves / Liabilities	1.59B	1.36B	1.43B	2.56B	2.7B
Change in Other Net Operating Assets (Collected)	66.1M	-47.7M	3.89B	-460M	-24.6M
Other Operating Activities	-472M	-373M	-4.26B	625M	-460M
Cash from Operations	3.74B	3.22B	3.17B	3.79B	4.6B
Capital Expenditure	-109M	-130M	-116M	-102M	-68.8M
Cash Acquisitions	-	-	-	-	-27.1M
Divestitures	-	27M	-	-	-
Sale (Purchase) of Real Estate Properties (Collected)	-228M	-148M	129M	-55.5M	-42M
Investment in Marketable and Equity Securities, Total	-3.92B	-3.04B	2.16B	-1.26B	-4.71B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-772M	-2.37B	-1.12B	67.8M	-554M
Cash from Investing	-5.03B	-5.66B	1.06B	-1.35B	-5.4B
Short Term Debt Issued, Total	-	10.2M	900K	-	97.9M
Long-Term Debt Issued, Total	609M	-	15.4M	692M	21.8M
Total Debt Issued	609M	10.2M	16.3M	692M	120M
Short Term Debt Repaid, Total	-12.6M	-	-	-18.5M	-
Long-Term Debt Repaid, Total	-65.8M	-1.8M	-302M	-764M	-100K
Total Debt Repaid	-78.4M	-1.8M	-302M	-782M	-100K
Issuance of Common Stock	42.8M	86.7M	182M	57.8M	67.7M
Repurchase of Common Stock	-307M	-937M	-1.7B	-740M	-1.04B
Repurchase of Preferred Stock	-	-	-	-	-
Common Dividends Paid	-614M	-654M	-642M	-626M	-658M
Preferred Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-614M	-654M	-642M	-626M	-658M
Annuity Receipts	10.28B	9.36B	7.35B	8.62B	12.25B
Annuity Payments	-8.85B	-8.8B	-7.65B	-9.42B	-10.96B
Other Financing Activities, Total	538M	2.86B	1.03B	-383M	528M
Cash from Financing	1.62B	1.92B	-1.72B	-2.59B	300M
Net Change in Cash	334M	-518M	2.52B	-140M	-496M
Supplemental Items
Cash Interest Paid	163M	166M	176M	171M	170M
Cash Income Tax Paid (Refund)	-172M	110M	142M	68.1M	118M
Net Debt Issued / Repaid	530M	8.4M	-286M	-91M	120M
Levered Free Cash Flow	2.1B	2.32B	110M	1.1B	1.3B
Unlevered Free Cash Flow	2.1B	2.32B	110M	1.1B	1.3B
Change In Net Working Capital	-397M	-462M	4.37B	76.6M	629M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	0.37	0.43	1.27	0.16	0.39
Return on Total Capital	5.21	6.09	20.83	3.1	7.51
Return On Equity %	8.98	10.54	36.26	6.24	14.09
Return on Common Equity	8.95	10.49	36.91	5.97	14.28
Margin Analysis
Gross Profit Margin %	43.01	49.58	63.04	42.73	45.16
SG&A Margin	31.52	34.97	28.39	37.12	33.26
EBITDA Margin %	13.2	16.54	36.34	7.61	13.49
EBITA Margin %	11.99	15.14	35.05	6.12	12.31
EBIT Margin %	11.49	14.61	34.65	5.62	11.9
Income From Continuing Operations Margin %	9.69	12.32	27.74	4.9	9.91
Net Income Margin %	9.47	11.99	27.51	4.56	9.74
Net Avail. For Common Margin %	9.47	11.99	27.51	4.56	9.74
Normalized Net Income Margin	6.96	8.8	21.42	3.04	7.16
Levered Free Cash Flow Margin	14.24	16.29	0.63	8.06	8.05
Unlevered Free Cash Flow Margin	14.24	16.29	0.63	8.06	8.05
Asset Turnover
Asset Turnover	0.05	0.05	0.06	0.05	0.05
Fixed Assets Turnover	14.84	13.87	17.2	14.13	18.89
Receivables Turnover (Average Receivables)	12.8	14.62	3.73	2.67	17.67
Short Term Liquidity
Current Ratio	2.27	1.85	1.38	1.47	1.44
Quick Ratio	1.7	1.26	0.44	0.47	0.3
Operating Cash Flow to Current Liabilities	1.21	0.95	0.13	0.17	0.22
Days Sales Outstanding (Average Receivables)	28.59	24.96	97.91	136.69	20.71
Average Days Payable Outstanding	106.74	131.81	155.03	65.32	57.64
Long Term Solvency
Total Debt/Equity	27.89	28.54	47.57	41.03	40.61
Total Debt / Total Capital	21.81	22.2	32.24	29.09	28.88
LT Debt/Equity	26.55	25.49	37.51	36.6	32.07
Long-Term Debt / Total Capital	20.76	19.83	25.42	25.95	22.81
Total Liabilities / Total Assets	94.31	94.6	96.47	96.32	96.34
EBIT / Interest Expense	-	-	-	-	-
EBITDA / Interest Expense	-	-	-	-	-
(EBITDA - Capex) / Interest Expense	-	-	-	-	-
Total Debt / EBITDA	2.34	1.93	0.76	4.16	2.08
Net Debt / EBITDA	0.92	0.97	0.01	-0.1	0.2
Total Debt / (EBITDA - Capex)	2.47	2.04	0.78	4.58	2.15
Net Debt / (EBITDA - Capex)	0.98	1.03	0.01	-0.11	0.21
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-9.13	-3.25	22.64	-22.07	18.02
Gross Profit, 1 Yr. Growth %	2.3	11.53	55.93	-47.27	24.72
EBITDA, 1 Yr. Growth %	1.32	21.26	169.45	-83.76	109.12
EBITA, 1 Yr. Growth %	0.62	22.18	183.98	-86.47	137.42
EBIT, 1 Yr. Growth %	0.01	23.04	190.85	-87.44	150.02
Earnings From Cont. Operations, 1 Yr. Growth %	-1.08	23.02	176.1	-86.03	138.46
Net Income, 1 Yr. Growth %	0.11	22.55	181.28	-86.9	152.09
Normalized Net Income, 1 Yr. Growth %	1.72	22.39	198.46	-88.79	178.2
Diluted EPS Before Extra, 1 Yr. Growth %	1.81	24.16	200.64	-86.31	161.96
Net Property, Plant and Equip., 1 Yr. Growth %	5.3	1.86	-4.04	-5.79	-18.01
Accounts Receivable, 1 Yr. Growth %	1.69	4.39	561.34	1.64	-20.48
Total Assets, 1 Yr. Growth %	7.44	2.71	-4.08	4.87	2.82
Common Equity, 1 Yr. Growth %	13.28	-2.96	-37.76	9.41	1.56
Tangible Book Value, 1 Yr. Growth %	17.84	-2.16	-46.5	14.5	3.94
Cash From Operations, 1 Yr. Growth %	-31.94	-13.9	-2.5	19.52	21.37
Capital Expenditures, 1 Yr. Growth %	-17.82	19.39	-10.47	-12.3	-32.55
Levered Free Cash Flow, 1 Yr. Growth %	60.41	21.95	-95.28	-405.89	-18.55
Unlevered Free Cash Flow, 1 Yr. Growth %	60.41	21.95	-95.28	-405.89	-18.55
Dividend Per Share, 1 Yr. Growth %	2.75	8.93	4.92	1.56	9.62
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	1.76	-6.23	8.93	-2.68	-4.1
Gross Profit, 2 Yr. CAGR %	3.48	6.82	31.88	-9.17	-18.9
EBITDA, 2 Yr. CAGR %	-1.11	10.84	80.75	-32.51	-41.73
EBITA, 2 Yr. CAGR %	-1.96	10.88	86.27	-36.65	-43.33
EBIT, 2 Yr. CAGR %	-2.58	10.93	89.17	-38.18	-43.96
Earnings From Cont. Operations, 2 Yr. CAGR %	-4.11	10.32	84.3	-35.82	-42.29
Net Income, 2 Yr. CAGR %	-5	10.77	85.67	-37.2	-42.53
Normalized Net Income, 2 Yr. CAGR %	-3.79	11.58	91.13	-39.87	-44.16
Diluted EPS Before Extra, 2 Yr. CAGR %	-2.93	12.43	93.2	-33.64	-40.12
Net Property, Plant and Equip., 2 Yr. CAGR %	15.24	3.57	-1.13	-4.92	-12.11
Accounts Receivable, 2 Yr. CAGR %	27.38	-8.33	162.78	148.42	-62.01
Total Assets, 2 Yr. CAGR %	10.48	5.05	-0.74	0.06	3.84
Common Equity, 2 Yr. CAGR %	20.57	4.85	-22.28	-17.58	5.41
Tangible Book Value, 2 Yr. CAGR %	20.93	7.38	-27.65	-21.87	9.09
Cash From Operations, 2 Yr. CAGR %	-14.85	-23.45	-7.51	7.95	20.44
Capital Expenditures, 2 Yr. CAGR %	8.57	-0.95	3.39	-11.39	-23.09
Levered Free Cash Flow, 2 Yr. CAGR %	-21.86	33.25	-76.02	-31.74	89.89
Unlevered Free Cash Flow, 2 Yr. CAGR %	-21.86	33.25	-76.02	-31.74	89.89
Dividend Per Share, 2 Yr. CAGR %	3.28	5.8	6.9	3.23	5.51
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	1.51	0.06	2.54	-2.49	3.78
Gross Profit, 3 Yr. CAGR %	1.04	6.09	21.17	-2.7	0.95
EBITDA, 3 Yr. CAGR %	-7.37	5.84	49.03	-18.82	-1.61
EBITA, 3 Yr. CAGR %	-8.38	5.5	51.7	-22.06	-1.6
EBIT, 3 Yr. CAGR %	-9.07	5.3	52.96	-23.17	-1.5
Earnings From Cont. Operations, 3 Yr. CAGR %	-14.98	4.19	49.78	-22.3	-0.6
Net Income, 3 Yr. CAGR %	-15.46	3.42	51.12	-23.57	-0.19
Normalized Net Income, 3 Yr. CAGR %	-9.71	4.25	54.89	-26.05	0.19
Diluted EPS Before Extra, 3 Yr. CAGR %	-13.78	5.37	56.05	-20.37	4.88
Net Property, Plant and Equip., 3 Yr. CAGR %	10.29	10.6	0.97	-2.71	-9.5
Accounts Receivable, 3 Yr. CAGR %	9.58	10.27	77.14	86.08	-4.3
Total Assets, 3 Yr. CAGR %	5.32	7.82	1.91	0.94	0.98
Common Equity, 3 Yr. CAGR %	8.82	12.16	-11.88	-12.97	-11.64
Tangible Book Value, 3 Yr. CAGR %	7.84	12.68	-14.87	-15.79	-14.07
Cash From Operations, 3 Yr. CAGR %	-3.71	-14.54	-16.72	0.74	12.25
Capital Expenditures, 3 Yr. CAGR %	-12.93	12.06	-4.23	-2.13	-19.09
Levered Free Cash Flow, 3 Yr. CAGR %	6.8	-12.24	-56.25	-16.68	-18.11
Unlevered Free Cash Flow, 3 Yr. CAGR %	6.8	-12.24	-56.25	-16.68	-18.11
Dividend Per Share, 3 Yr. CAGR %	6.2	5.13	5.5	5.09	5.31
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	4.26	2.85	4.42	-0.82	-0.12
Gross Profit, 5 Yr. CAGR %	4.44	5.84	12.4	-0.28	3.28
EBITDA, 5 Yr. CAGR %	1.23	5.81	21.03	-12.16	2.53
EBITA, 5 Yr. CAGR %	1.02	5.7	21.69	-14.57	2.49
EBIT, 5 Yr. CAGR %	0.68	5.53	21.89	-15.52	2.54
Earnings From Cont. Operations, 5 Yr. CAGR %	2.65	5.23	15.86	-15.48	2.04
Net Income, 5 Yr. CAGR %	2.49	5.38	15.8	-16.62	2.42
Normalized Net Income, 5 Yr. CAGR %	2.89	5.74	21.87	-17.84	2.74
Diluted EPS Before Extra, 5 Yr. CAGR %	4.46	6.86	19.06	-13.81	6.14
Net Property, Plant and Equip., 5 Yr. CAGR %	9.96	8.23	5.57	4.11	-4.48
Accounts Receivable, 5 Yr. CAGR %	-11.29	-13.78	48.38	52.6	-5.93
Total Assets, 5 Yr. CAGR %	6.29	5.97	2.85	4.65	2.58
Common Equity, 5 Yr. CAGR %	12.2	9.46	-4.89	-0.85	-5.38
Tangible Book Value, 5 Yr. CAGR %	13.58	10.26	-8.07	-2.67	-6.06
Cash From Operations, 5 Yr. CAGR %	-3.1	-3.56	-5.4	-5.96	-3.47
Capital Expenditures, 5 Yr. CAGR %	-4.42	-3.46	-6.73	2.02	-12.27
Levered Free Cash Flow, 5 Yr. CAGR %	8.54	13.52	-42.36	-20.36	-0.15
Unlevered Free Cash Flow, 5 Yr. CAGR %	6.84	13.52	-42.36	-20.36	-0.15
Dividend Per Share, 5 Yr. CAGR %	8.35	8.67	6.48	4.36	5.51