Income Statement Prudential Financial, Inc.

Equities

PRU

US7443201022

Life & Health Insurance

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111.70 ^USD	+1.32%		+3.07%	-5.87%

Dec. 03	Sector Update: Financial Stocks Advance Late Afternoon	MT
Dec. 03	Sector Update: Financial Stocks Rise Wednesday Afternoon	MT

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Published financial data: PRUDENTIAL FINANCIAL, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Premiums and Annuity Revenues	37.17B	40.77B	43.59B	31.89B	47.2B
Total Interest And Dividend Income	17.41B	18.29B	16.04B	17.86B	19.91B
Asset Management Fee	4.39B	4.9B	4.06B	3.72B	4.09B
Gain (Loss) on Sale of Investments, Total (Rev)	-3.68B	4.62B	-4.28B	-3B	-2.75B
Other Revenues, Total	1.8B	2.3B	-1.03B	3.51B	1.96B
Total Revenues	57.09B	70.87B	58.38B	53.98B	70.4B
Policy Benefits	41.22B	44.81B	46B	36.32B	52.36B
Policy Acquisition / Underwriting Costs, Total	2.22B	2.1B	2.43B	1.46B	1.49B
Selling General & Admin Expenses, Total	13.91B	13.58B	12.48B	12.72B	13.34B
Total Operating Expenses	57.35B	60.49B	60.92B	50.5B	67.2B
Operating Income	-258M	10.38B	-2.54B	3.48B	3.21B
Interest Expense, Total	-	-	-	-	-
Income (Loss) on Equity Invest.	96M	87M	-56M	49M	144M
Currency Exchange Gains (Loss)	-58M	63M	-	-	-
EBT, Excl. Unusual Items	-220M	10.53B	-2.59B	3.53B	3.35B
Restructuring Charges	-7M	-1M	-8M	-230M	-1M
Total Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-1.06B	-903M	-177M	-
Gain (Loss) on Sale of Investments	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	1.67B	-	-
EBT, Incl. Unusual Items	-227M	9.47B	-1.83B	3.12B	3.35B
Income Tax Expense	-81M	1.67B	-370M	613M	507M
Earnings From Continuing Operations	-146M	7.79B	-1.46B	2.51B	2.85B
Net Income to Company	-146M	7.79B	-1.46B	2.51B	2.85B
Minority Interest	-228M	-70M	24M	-20M	-119M
Net Income - (IS)	-374M	7.72B	-1.44B	2.49B	2.73B
Preferred Dividend and Other Adjustments	21M	115M	25M	29M	32M
Net Income to Common Incl Extra Items	-395M	7.61B	-1.46B	2.46B	2.7B
Net Income to Common Excl. Extra Items	-395M	7.61B	-1.46B	2.46B	2.7B
Per Share Items
Net EPS - Basic	-1	19.65	-3.93	6.76	7.54
Basic EPS - Continuing Operations	-1	19.65	-3.93	6.76	7.54
Basic Weighted Average Shares Outstanding	396M	387M	372M	364M	358M
Net EPS - Diluted	-1	19.51	-3.93	6.74	7.5
Diluted EPS - Continuing Operations	-1	19.51	-3.93	6.74	7.5
Diluted Weighted Average Shares Outstanding	396M	390M	372M	365M	359M
Normalized Basic EPS	-0.92	16.81	-4.29	6.01	5.53
Normalized Diluted EPS	-0.92	16.69	-4.29	5.99	5.5
Dividend Per Share	4.4	4.6	4.8	5	5.2
Payout Ratio	-472.19	23.49	-126.36	74.2	69.34
Supplemental Items
EBITDA	199M	10.58B	-2.41B	3.48B	3.59B
EBITA	-156M	10.49B	-2.43B	3.57B	3.29B
EBIT	-258M	10.38B	-2.54B	3.48B	3.21B
EBITDAR	459M	10.83B	-2.2B	3.68B	3.78B
Total Revenues (As Reported)	57.03B	70.93B	60.05B	53.98B	70.4B
Effective Tax Rate - (Ratio)	35.68	17.68	20.2	19.64	15.12
Current Domestic Taxes	-560M	1.12B	229M	21M	530M
Current Foreign Taxes	848M	770M	480M	667M	755M
Total Current Taxes	288M	1.89B	709M	688M	1.28B
Deferred Domestic Taxes	-361M	15M	-679M	323M	-546M
Deferred Foreign Taxes	-8M	-229M	-400M	-398M	-232M
Total Deferred Taxes	-369M	-214M	-1.08B	-75M	-778M
Normalized Net Income	-366M	6.51B	-1.6B	2.18B	1.98B
Non-Cash Pension Expense	-101M	-211M	-270M	-279M	-323M
Supplemental Operating Expense Items
General and Administrative Expenses	13.65B	13.33B	12.27B	12.53B	13.15B
Net Rental Expense, Total	260M	249M	213M	195M	191M
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., Other (Total)	242M	284M	220M	257M	314M
Total Stock-Based Compensation	242M	284M	220M	257M	314M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Investment In Debt Securities	436B	375B	310B	317B	312B
Investment In Equity and Preferred Securities, Total	22.63B	24.85B	25.28B	26.85B	30.89B
Trading Asset Securities, Total	3.91B	8.82B	5.95B	9.79B	12.53B
Real Estate Owned	2.03B	1.79B	1.62B	1.79B	1.74B
Mortgage Loans	64.66B	58.04B	56.18B	58.76B	61.32B
Policy Loans	11.27B	10.39B	10.05B	10.05B	9.8B
Total Other Investments	12.11B	9.9B	7.91B	9.05B	14.58B
Total investments	552B	488B	417B	433B	443B
Cash And Equivalents	13.7B	12.89B	17.25B	19.42B	18.5B
Reinsurance Recoverable - (IS)	7.35B	-	8.88B	27.31B	37.68B
Other Receivables - (Insurance Template)	3.96B	3.48B	7.8B	4.78B	5.32B
Deferred Policy Acquisition Costs - (BS)	19.03B	18.19B	19.54B	20.86B	20.45B
Separate Account Assets	327B	246B	198B	199B	193B
Net Property Plant And Equipment	466M	-	340M	-	373M
Goodwill	3.04B	1.8B	876M	1.07B	1.05B
Other Intangibles, Total	273M	-	205M	-	406M
Restricted Cash	154M	-	48M	44M	23M
Other Current Assets, Total	1.92B	157B	1.46B	1.1B	1.6B
Deferred Charges Long-Term	820M	-	366M	-	-
Other Long-Term Assets, Total	10.41B	9.71B	18.88B	14.58B	13.87B
Total Assets	941B	938B	690B	721B	736B
Liabilities
Insurance And Annuity Liabilities	475B	419B	417B	414B	423B
Unpaid Claims	2.97B	3.2B	3.25B	-	-
Reinsurance Payable - (BS)	-	-	-	15.73B	17.08B
Current Portion of Long-Term Debt	527M	197M	328M	83M	432M
Current Portion of Leases	156M	129M	116M	110M	95M
Short-Term Borrowings	14.79B	14.96B	13.14B	13.07B	16.94B
Long-Term Debt	20.02B	18.9B	20.28B	20.26B	20.62B
Long-Term Leases	355M	303M	254M	201M	313M
Separate Account Liability	327B	246B	198B	199B	193B
Current Income Taxes Payable	12.02B	9.51B	-	-	-
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	792M	154B	3.06B	17.4B	21.95B
Pension & Other Post Retirement Benefits	3.46B	2.99B	2.36B	2.06B	1.86B
Other Non Current Liabilities	15.56B	6.06B	14.75B	9.52B	9.66B
Total Liabilities	873B	875B	673B	691B	705B
Common Stock, Total	6M	6M	6M	6M	6M
Additional Paid In Capital	25.58B	25.73B	25.75B	25.75B	25.9B
Retained Earnings	30.75B	36.65B	33.39B	32.35B	33.19B
Treasury Stock	-19.65B	-21.84B	-23.07B	-23.78B	-24.51B
Comprehensive Income and Other	30.74B	21.32B	-19.83B	-6.5B	-6.71B
Total Common Equity	67.42B	61.88B	16.25B	27.82B	27.87B
Minority Interest	785M	732M	958M	1.97B	2.25B
Total Equity	68.21B	62.61B	17.21B	29.79B	30.13B
Total Liabilities And Equity	941B	938B	690B	721B	736B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	397M	376M	366M	359M	354M
ECS Total Common Shares Outstanding	396M	376M	366M	359M	355M
Book Value / Share	170.08	164.44	44.4	77.45	78.61
Tangible Book Value	64.12B	60.07B	15.17B	26.75B	26.41B
Tangible Book Value Per Share	161.73	159.64	41.45	74.46	74.49
Total Debt	35.85B	34.49B	34.12B	33.72B	38.4B
Net Debt	22.15B	21.6B	16.86B	14.3B	19.9B
Debt Equivalent of Unfunded Proj. Benefit Obligation	586M	-455M	-1.42B	-1.41B	-1.66B
Debt Equivalent Oper. Leases	2.08B	1.99B	1.7B	1.56B	1.53B
Minority Interest, Total (Incl. Fin. Div)	785M	732M	958M	1.97B	2.25B
Equity Method Investments, Total	10.14B	11.68B	14.41B	14.67B	17.2B
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	41.67K	40.92K	39.58K	40.37K	37.94K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	-374M	7.72B	-1.44B	2.49B	2.73B
Depreciation, Depletion & Amortization	355M	94M	20M	-159M	303M
Amortization of Goodwill and Intangible Assets - (CF)	102M	110M	104M	89M	80M
Total Depreciation, Depletion & Amortization	457M	204M	124M	-70M	383M
(Gain) Loss on Sale of Investments - (CF)	3.14B	-3.72B	4.5B	3.11B	2.83B
Total Asset Writedown	-	1.06B	903M	177M	-
Deferred Policy Acquisition Costs - (CF)	-542M	-451M	232M	-869M	-1.11B
Change in Trading Asset Securities	-	-	-	-	-
Change In Income Taxes	-424M	-62M	-1.68B	-442M	-146M
Change in insurance Reserves / Liabilities	10.82B	7.76B	6.57B	5.49B	4.8B
Change in Other Net Operating Assets (Collected)	-6.82B	-3.95B	-3.81B	-5.14B	-3.96B
Other Operating Activities	2.11B	1.25B	-240M	1.76B	2.97B
Cash from Operations	8.37B	9.81B	5.16B	6.51B	8.5B
Cash Acquisitions	-	-	-	-	-
Divestitures	1.45B	132M	422M	-	-
Investment in Marketable and Equity Securities, Total	-16.92B	-2.65B	-6.26B	-8B	-24.54B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-88M	736M	573M	-2.11B	-3.3B
Other Investing Activities, Total	-652M	-3.56B	-2.37B	-2.01B	-746M
Cash from Investing	-16.21B	-5.34B	-7.64B	-12.12B	-28.58B
Short Term Debt Issued, Total	499M	339M	-	10M	3.88B
Long-Term Debt Issued, Total	3.01B	268M	2.84B	2.08B	2.86B
Total Debt Issued	3.51B	607M	2.84B	2.09B	6.74B
Short Term Debt Repaid, Total	-21M	-	-1.76B	-156M	-583M
Long-Term Debt Repaid, Total	-2.76B	-1.71B	-1.18B	-2.32B	-1.43B
Total Debt Repaid	-2.78B	-1.71B	-2.94B	-2.47B	-2.01B
Issuance of Common Stock	153M	200M	163M	126M	201M
Repurchase of Common Stock	-500M	-2.5B	-1.49B	-1.01B	-1B
Common Dividends Paid	-1.77B	-1.81B	-1.82B	-1.85B	-1.89B
Common & Preferred Stock Dividends Paid	-1.77B	-1.81B	-1.82B	-1.85B	-1.89B
Annuity Receipts	41.42B	31.8B	30.09B	28.52B	35.91B
Annuity Payments	-34.7B	-29.23B	-24.15B	-18.31B	-19.39B
Other Financing Activities, Total	-456M	-364M	2.23B	645M	830M
Cash from Financing	4.88B	-3.01B	4.93B	7.74B	19.39B
Foreign Exchange Rate Adjustments	340M	-309M	-159M	37M	-254M
Miscellaneous Cash Flow Adjustments	-	-2.07B	2.07B	-	-
Net Change in Cash	-2.62B	-921M	4.36B	2.16B	-943M
Supplemental Items
Cash Interest Paid	1.53B	1.45B	1.45B	1.56B	2B
Cash Income Tax Paid (Refund)	287M	1.67B	1.09B	895M	756M
Net Debt Issued / Repaid	729M	-1.1B	-96M	-388M	4.73B
Levered Free Cash Flow	-1.65B	-14.29B	-4.06B	2.75B	-863M
Unlevered Free Cash Flow	-1.65B	-14.29B	-4.06B	2.75B	-863M
Change In Net Working Capital	2.18B	21.26B	2.82B	-387M	3.57B

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	-0.02	0.69	-0.19	0.31	0.28
Return on Total Capital	-0.16	6.45	-2.14	3.36	3.04
Return On Equity %	-0.22	11.92	-3.66	8.13	9.49
Return on Common Equity	-0.61	11.77	-3.75	8.42	9.68
Margin Analysis
Gross Profit Margin %	23.91	33.81	17.04	30.01	23.51
SG&A Margin	24.36	19.16	21.39	23.57	18.95
EBITDA Margin %	0.35	14.93	-4.13	6.45	5.1
EBITA Margin %	-0.27	14.8	-4.17	6.61	4.67
EBIT Margin %	-0.45	14.64	-4.35	6.44	4.56
Income From Continuing Operations Margin %	-0.26	11	-2.5	4.65	4.04
Net Income Margin %	-0.66	10.9	-2.46	4.61	3.87
Net Avail. For Common Margin %	-0.69	10.74	-2.51	4.56	3.83
Normalized Net Income Margin	-0.64	9.19	-2.73	4.05	2.81
Levered Free Cash Flow Margin	-2.88	-20.16	-6.95	5.09	-1.23
Unlevered Free Cash Flow Margin	-2.88	-20.16	-6.95	5.09	-1.23
Asset Turnover
Asset Turnover	0.06	0.08	0.07	0.08	0.1
Fixed Assets Turnover	111.94	-	-	-	213.67
Short Term Liquidity
Current Ratio	0.63	0.99	1.18	1.23	1.15
Quick Ratio	0.42	0.15	0.83	1.09	1.02
Operating Cash Flow to Current Liabilities	0.14	0.05	0.13	0.2	0.21
Average Days Payable Outstanding	272.11	175.14	127.64	10.48	7.45
Long Term Solvency
Total Debt/Equity	52.56	55.08	198.26	113.2	127.45
Total Debt / Total Capital	34.45	35.52	66.47	53.1	56.03
LT Debt/Equity	29.88	30.67	119.34	68.68	69.47
Long-Term Debt / Total Capital	19.58	19.77	40.01	32.21	30.55
Total Liabilities / Total Assets	92.75	93.32	97.51	95.87	95.9
EBIT / Interest Expense	-	-	-	-	-
EBITDA / Interest Expense	-	-	-	-	-
(EBITDA - Capex) / Interest Expense	-	-	-	-	-
Total Debt / EBITDA	78.11	3.18	-15.51	9.17	10.15
Net Debt / EBITDA	48.26	1.99	-7.67	3.89	5.26
Total Debt / (EBITDA - Capex)	78.11	3.18	-15.51	9.17	10.15
Net Debt / (EBITDA - Capex)	48.26	1.99	-7.67	3.89	5.26
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-11.91	24.14	-17.63	-1.11	30.43
Gross Profit, 1 Yr. Growth %	-26.23	75.56	-58.48	74.4	2.17
EBITDA, 1 Yr. Growth %	-96.43	5.22K	-122.8	-210.07	3.24
EBITA, 1 Yr. Growth %	-103.01	-6.82K	-123.2	-212.38	-7.79
EBIT, 1 Yr. Growth %	-105.05	-4.12K	-124.44	-206.1	-7.73
Earnings From Cont. Operations, 1 Yr. Growth %	-103.44	-5.44K	-118.76	-249.73	13.48
Net Income, 1 Yr. Growth %	-108.93	-2.17K	-118.62	-251.06	9.61
Normalized Net Income, 1 Yr. Growth %	-111.4	-1.88K	-124.52	-206.06	-9.51
Diluted EPS Before Extra, 1 Yr. Growth %	-109.87	-2.05K	-120.14	-250.08	11.28
Net Property, Plant and Equip., 1 Yr. Growth %	-15.88	-	-	-	30.42
Total Assets, 1 Yr. Growth %	4.93	-0.33	-26.42	4.66	1.99
Common Equity, 1 Yr. Growth %	6.83	-8.23	-73.74	-9.06	0.19
Tangible Book Value, 1 Yr. Growth %	7.26	-6.31	-74.75	-9.99	0.65
Cash From Operations, 1 Yr. Growth %	-57.36	17.26	-47.43	26.21	30.6
Levered Free Cash Flow, 1 Yr. Growth %	-118.9	767.74	-71.6	-190.13	-131.39
Unlevered Free Cash Flow, 1 Yr. Growth %	-118.9	767.74	-71.6	-190.13	-131.39
Dividend Per Share, 1 Yr. Growth %	10	4.55	4.35	4.17	4
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-4.8	4.57	1.12	-12.92	13.57
Gross Profit, 2 Yr. CAGR %	-9.82	13.8	-14.62	-20.2	33.48
EBITDA, 2 Yr. CAGR %	-80.04	37.82	248.22	-46.23	6.6
EBITA, 2 Yr. CAGR %	-82.15	42.34	294.92	-45.34	1.79
EBIT, 2 Yr. CAGR %	-76.9	42.49	213.58	-45.78	-1.06
Earnings From Cont. Operations, 2 Yr. CAGR %	-81.1	35.61	216.44	-47.03	30.35
Net Income, 2 Yr. CAGR %	-69.7	35.84	96.08	-47.03	28.68
Normalized Net Income, 2 Yr. CAGR %	-65.41	42.52	109.01	-45.76	-2.03
Diluted EPS Before Extra, 2 Yr. CAGR %	-67.58	38.92	98.24	-45.14	29.23
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	-14.58	-	-
Total Assets, 2 Yr. CAGR %	7.43	2.26	-14.36	-12.3	3.32
Common Equity, 2 Yr. CAGR %	17.76	-0.99	-50.91	-32.95	-4.55
Tangible Book Value, 2 Yr. CAGR %	15.97	0.24	-51.36	-33.27	-5.72
Cash From Operations, 2 Yr. CAGR %	-37.85	-29.29	-21.49	-18.55	28.39
Levered Free Cash Flow, 2 Yr. CAGR %	58.76	28.09	56.98	-54.67	-46.81
Unlevered Free Cash Flow, 2 Yr. CAGR %	58.76	28.09	56.98	-54.67	-46.81
Dividend Per Share, 2 Yr. CAGR %	10.55	7.24	4.45	4.26	4.08
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-1.53	4.01	-3.42	-1.85	-0.37
Gross Profit, 3 Yr. CAGR %	-9.67	12.6	-18.68	5.88	-13.35
EBITDA, 3 Yr. CAGR %	-69.22	28.43	-24.34	159.57	-33.17
EBITA, 3 Yr. CAGR %	-71.38	28.91	-22.25	183.86	-34.93
EBIT, 3 Yr. CAGR %	-66.07	29	-20.83	138.02	-35.27
Earnings From Cont. Operations, 3 Yr. CAGR %	-73.64	24	-29.87	158.02	-31.71
Net Income, 3 Yr. CAGR %	-63.77	23.77	-29.96	88.07	-32.5
Normalized Net Income, 3 Yr. CAGR %	-54.82	28.68	-20.73	81.49	-35.67
Diluted EPS Before Extra, 3 Yr. CAGR %	-61.77	27.11	-27.01	88.89	-30.56
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-15.02	-	-
Total Assets, 3 Yr. CAGR %	4.17	4.78	-8.36	-8.48	-7.77
Common Equity, 3 Yr. CAGR %	7.53	8.37	-36.38	-25.55	-23.34
Tangible Book Value, 3 Yr. CAGR %	6.36	8.01	-36.69	-25.28	-23.96
Cash From Operations, 3 Yr. CAGR %	-14.65	-23.2	-35.94	-8.03	-4.66
Levered Free Cash Flow, 3 Yr. CAGR %	-60.81	179.66	-22.48	18.63	-59.89
Unlevered Free Cash Flow, 3 Yr. CAGR %	-60.81	179.66	-22.48	18.63	-59.89
Dividend Per Share, 3 Yr. CAGR %	13.62	8.51	6.27	4.35	4.17
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-0.44	3.75	-0.48	-3.04	1.67
Gross Profit, 5 Yr. CAGR %	-7.3	6.3	-11.68	-0.7	-2.2
EBITDA, 5 Yr. CAGR %	-53.49	7.12	-18.78	-6.98	-8.4
EBITA, 5 Yr. CAGR %	-55.65	7.52	-18.23	-6.13	-8.67
EBIT, 5 Yr. CAGR %	-50.89	7.63	-17.41	-6.37	-8.89
Earnings From Cont. Operations, 5 Yr. CAGR %	-51.97	12.02	-28.77	-9.31	-7.65
Net Income, 5 Yr. CAGR %	-41.89	12.08	-28.81	-9.39	-8.21
Normalized Net Income, 5 Yr. CAGR %	-40.24	12.92	-16.62	-6.49	-9.21
Diluted EPS Before Extra, 5 Yr. CAGR %	-39.36	14.97	-26.12	-6.63	-5.79
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	-	-7.61
Total Assets, 5 Yr. CAGR %	4.43	3.64	-3.68	-2.42	-3.88
Common Equity, 5 Yr. CAGR %	9.99	6.17	-21.42	-10.56	-15.08
Tangible Book Value, 5 Yr. CAGR %	9.38	5.98	-22.22	-10.91	-15.07
Cash From Operations, 5 Yr. CAGR %	-9.71	-7.99	-17.46	-21.37	-15.41
Levered Free Cash Flow, 5 Yr. CAGR %	-8.74	-0.6	-31.73	33.3	-37.02
Unlevered Free Cash Flow, 5 Yr. CAGR %	-1.44	-1.68	-31.73	33.3	-37.02
Dividend Per Share, 5 Yr. CAGR %	12.52	10.44	9.86	6.79	5.39