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Principal Financial Group Inc (PFG) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · Life & Health Insurance · DATA UPDATED 2026-07-17

Principal Financial Group Inc (PFG) operates in the Life & Health Insurance industry and is headquartered in Des Moines, United States with about 19,700 employees. Its market capitalization is roughly $24 billion. In the fiscal year ended 2025-12-31, PFG reported $15.6B in revenue and $1.2B in net income.

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.

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PFG Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$15.5B	$15.6B	$16.1B	$13.7B	$17.5B	$14.4B	$14.7B	$16.2B	$14.2B	$14.1B	$12.4B	$12.0B	$10.5B	$9.3B	$9.2B	$8.7B	$9.2B	$8.8B	$9.9B	$10.9B	$9.9B
Gross Profit	$7.5B	$7.1B	$7.4B	$5.9B	$11.0B	$7.1B	$6.5B	$6.3B	$6.0B	$6.3B	$5.5B	$5.3B	$5.2B	$4.6B	$4.1B	$4.1B	$4.0B	$3.5B	$3.7B	$4.5B	$4.2B
Gross Margin %	48.7%	45.2%	45.6%	43.2%	63.0%	49.0%	43.8%	38.9%	42.5%	44.5%	44.2%	44.0%	50.1%	49.6%	44.4%	46.8%	43.4%	39.7%	37.4%	41.0%	42.3%
Operating Income (EBIT)	$1.9B	$1.4B	$1.9B	$739M	$6.0B	$1.9B	$1.7B	$1.7B	$1.8B	$2.3B	$1.6B	$1.4B	$1.5B	$1.1B	$960M	$873M	$786M	$746M	$461M	$1.1B	$1.3B
Operating Margin %	12.4%	9.1%	11.7%	5.4%	34.1%	13.2%	11.5%	10.4%	12.5%	16.0%	12.8%	12.0%	14.3%	12.1%	10.4%	10.1%	8.5%	8.4%	4.6%	9.8%	13.5%
Net Income	$1.6B	$1.2B	$1.6B	$623M	$4.8B	$1.6B	$1.4B	$1.4B	$1.5B	$2.3B	$1.3B	$1.2B	$1.1B	$913M	$807M	$638M	$663M	$623M	$458M	$860M	$1.1B
Net Margin %	10.0%	7.6%	9.7%	4.6%	27.1%	10.9%	9.5%	8.6%	10.9%	16.4%	10.6%	10.3%	10.9%	9.8%	8.8%	7.4%	7.2%	7.0%	4.6%	7.9%	10.8%
EBITDA	$1.9B	$1.7B	$2.1B	$1.0B	$6.3B	$2.2B	$1.9B	$1.9B	$2.0B	$2.4B	$1.8B	$1.6B	$1.7B	$1.3B	$1.1B	$993M	$950M	$884M	$606M	$1.2B	$1.4B
Earnings Per Share (EPS)	$6.94	$5.25	$6.94	$2.55	$18.63	$5.79	$5.05	$4.96	$5.35	$7.88	$4.50	$4.14	$3.83	$3.06	$2.69	$2.01	$2.05	$2.08	$1.75	$3.21	$3.86
Shares Outstanding (M)	220M	226M	226M	245M	255M	273M	277M	281M	289M	293M	293M	298M	299M	298M	300M	318M	323M	299M	261M	268M	276M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PFG Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$3.5B	$4.6B	$3.7B	$3.7B	$3.7B	$4.8B	$3.0B	$4.3B
Gross Profit	$1.9B	$2.1B	$1.7B	$1.8B	$1.4B	$2.5B	$1.1B	$1.8B
Gross Margin %	53.9%	46.9%	44.9%	49.6%	38.9%	52.8%	35.1%	41.5%
Operating Income (EBIT)	$523M	$636M	$248M	$503M	$29M	$1.1B	($294M)	$444M
Operating Margin %	14.8%	13.9%	6.8%	13.7%	0.8%	23.4%	-9.8%	10.3%
Net Income	$413M	$517M	$214M	$406M	$48M	$905M	($220M)	$353M
Net Margin %	11.7%	11.3%	5.8%	11.1%	1.3%	19.1%	-7.3%	8.2%
EBITDA	$523M	$636M	$248M	$503M	$29M	$1.1B	($294M)	$454M
Earnings Per Share (EPS)	$1.87	$2.32	$0.94	$1.79	$0.21	$3.92	$-0.95	$1.49
Shares Outstanding (M)	220M	222M	226M	226M	225M	231M	231M	237M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PFG Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$3.7B	$4.5B	$4.6B	$3.8B	$3.2B	$3.2B	$3.7B	$5.5B	$5.2B	$4.2B	$3.9B	$4.4B	$3.1B	$2.2B	$3.1B	$2.7B	$2.8B	$2.2B	$2.2B	$3.0B	$2.3B
Capital Expenditures (CapEx)	$115M	$98M	$69M	$102M	$116M	$130M	$109M	$132M	$92M	$165M	$155M	$136M	$136M	$59M	$39M	$57M	$22M	$26M	$105M	$214M	$80M
Free Cash Flow (FCF)	$3.6B	$4.4B	$4.5B	$3.7B	$3.1B	$3.1B	$3.6B	$5.4B	$5.1B	$4.0B	$3.7B	$4.2B	$3.0B	$2.2B	$3.0B	$2.7B	$2.8B	$2.2B	$2.1B	$2.7B	$2.2B
FCF Margin %	23.5%	28.4%	28.1%	27.0%	17.4%	21.4%	24.6%	33.1%	35.6%	28.5%	29.9%	35.4%	28.3%	23.3%	33.0%	30.6%	30.1%	25.1%	21.3%	25.2%	22.3%
Dividends Paid	$688M	$684M	$658M	$626M	$642M	$654M	$614M	$606M	$599M	$540M	$465M	$458M	$410M	$321M	$264M	$247M	$209M	$192M	$150M	$41M	$25M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PFG Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$187M	$1.7B	$1.0B	$812M	$977M	$1.5B	$1.1B	$1.4B
Capital Expenditures (CapEx)	$34M	$34M	$24M	$23M	$16M	$17M	$17M	$18M
Free Cash Flow (FCF)	$153M	$1.7B	$980M	$789M	$961M	$1.4B	$1.1B	$1.4B
FCF Margin %	4.3%	37.4%	26.6%	21.5%	26.0%	30.3%	36.9%	32.8%
Dividends Paid	$174M	$172M	$173M	$170M	$169M	$166M	$165M	$165M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PFG Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$332.7B	$341.4B	$313.7B	$305.0B	$303.0B	$304.7B	$313.5B	$291.1B	$243.0B	$253.9B	$228.0B	$218.7B	$219.1B	$208.2B	$161.9B	$148.3B	$145.6B	$137.8B	$128.2B	$154.5B	$143.7B
Cash & Cash Equivalents	$4.1B	$4.4B	$4.2B	$4.7B	$4.8B	$2.3B	$2.9B	$2.5B	$3.0B	$2.5B	$2.7B	$2.6B	$1.9B	$2.4B	$4.2B	$2.8B	$1.9B	$2.2B	$2.6B	$1.3B	$1.6B
Total Liabilities	$320.3B	$329.0B	$302.2B	$293.8B	$292.7B	$288.2B	$296.6B	$276.1B	$231.2B	$240.9B	$217.6B	$209.2B	$208.8B	$198.2B	$152.1B	$138.3B	$135.7B	$129.7B	$125.7B	$147.1B	$135.8B
Total Debt (Short + Long-Term)	$3.9B	$30M	$4.1B	$4.0B	$24.5B	$4.4B	$4.4B	$3.8B	$3.3B	$3.2B	$3.2B	$3.5B	$2.6B	$2.8B	$2.7B	$1.7B	$1.7B	$1.7B	$1.3B	$1.6B	$1.5B
Total Shareholders' Equity	$11.8B	$11.9B	$11.1B	$10.9B	$10.3B	$16.1B	$16.6B	$14.6B	$11.4B	$12.8B	$10.2B	$9.3B	$10.2B	$9.7B	$9.8B	$9.6B	$9.7B	$7.9B	$2.5B	$7.4B	$7.9B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive PFG viewer.

Other Companies in Life & Health Insurance

AFL · Aflac — $64 billion
MET · MetLife — $61 billion
PRU · Prudential Financial — $42 billion
GL · Globe Life — $13 billion

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