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Earnings transcript
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PFG
Principal Financial Group, Inc.
$106.66
1.63
(1.55%)
| Exchange: | NASDAQ |
| Market Cap: | 23.04B |
| Shares Outstanding: | 360.6M |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Asset Management | |||||
| CEO: | Deanna Dawnette Strable-Soethout | |||||
| Full Time Employees: | 19700 | |||||
| Address: |
| |||||
| Website: | https://www.principal.com |
Principal Financial Group, Inc., established in 1879 and headquartered in Des Moines, Iowa, is a global financial services organization. It offers a comprehensive suite of retirement plans, investment management expertise, and insurance policies to a diverse clientele, including businesses, individual investors, and institutional clients worldwide. The company’s operations are divided into four primary segments: 1. Retirement and Income Solutions: This division is dedicated to facilitating retirement savings and income generation through various asset accumulation products and services. Its offerings encompass plans like 401(k)s and 403(b)s, traditional defined benefit pensions, specialized executive benefits, employee stock ownership plans, equity compensation, and pension risk transfer services. Additionally, it provides individual retirement accounts, investment-only products, mutual funds, individual variable annuities, and banking services. 2. Principal Global Investors: This segment manages a wide array of investment portfolios, spanning equities, fixed income, real estate, and alternative investments. It also provides strategic services such as asset allocation, stable value management, and other structured investment methodologies. 3. Principal International: Focused on specific international markets, including Brazil, Chile, Mexico, China, Hong Kong Special Administrative Region, India, and Southeast Asia, this segment delivers products for pension accumulation, mutual funds, asset management, income annuities, life insurance accumulation, and voluntary savings programs. 4. U.S. Insurance Solutions: Within the United States, this segment delivers various insurance products. These include specialty group benefits like dental, vision, and life insurance, as well as both group and individual disability coverage, alongside the administration of these group benefits. It also offers individual life insurance options, such as universal, variable universal, indexed universal, and term policies. Furthermore, this segment tailors insurance solutions for small and medium-sized businesses, their owners, and executives.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 13,665,800 | 16,127,700 | 15,625,500 |
| Gross Profit | 5,900,100 | 7,353,400 | 7,061,000 |
| EBITDA | 1,011,500 | 2,145,800 | 1,669,600 |
| Operating Income | 738,800 | 1,889,600 | 1,416,000 |
| Net Income | 623,200 | 1,571,000 | 1,185,100 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 305,046,700 | 313,663,600 | 341,376,500 |
| Total Liabilities | 293,836,100 | 302,194,600 | 328,985,200 |
| Total Stockholders Equity | 10,916,000 | 11,086,400 | 11,883,900 |
| Total Debt | 3,992,000 | 4,108,000 | 3,926,300 |
| Cash and Cash Equivalents | 4,707,700 | 4,211,900 | 4,431,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 3,792,400 | 4,602,900 | 0 |
| Capital Expenditure | -102,000 | -68,800 | 0 |
| Free Cash Flow | 3,690,400 | 4,534,100 | 0 |
| Net Income | 623,200 | 1,597,900 | 1,185,100 |
| Net Change in Cash | -140,300 | -495,800 | -4,211,900 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 19,818,945.372 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 20,816,045.356 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 20,328,000 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 3,265,088.572 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 3,429,356.635 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 3,348,953.199 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 2,849,498.624 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 3,037,312.623 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 2,945,385.013 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 0 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 0 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 0 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 13.050 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 13.460 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 12.630 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 1 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 2 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Strong Financial Performance: PFG has demonstrated robust revenue growth, as evidenced by recent income statements showing consistent increases in revenue and net income over the past periods. This aligns with positive free cash flow trends, indicating operational efficiency and financial health.
- Favorable Valuation Metrics: The current price-to-earnings (P/E) ratio (TTM) and forward P/E estimates suggest that PFG is reasonably valued compared to industry averages, providing a solid foundation for investor confidence. Additionally, the price-to-sales (P/S) ratio supports a positive outlook on revenue generation relative to market cap.
- Stable Dividend Yield: With a consistent dividend yield (TTM) and a history of dividend payments, PFG offers an attractive income stream for investors, enhancing its appeal in the wealth-building demographic.
- Sector and Industry Positioning: PFG operates in a sector with positive performance trends over multiple timeframes (1w, 1m, 3m, 6m, 1y, 5y), as per sector and industry performance data, indicating a supportive environment for sustained growth.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates PFG intrinsic value between $171.56 – $283.54 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about PFG valuation
Is Principal Financial Group, Inc. (PFG) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Principal Financial Group, Inc. (PFG) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is PFG a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether PFG trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is PFG’s P/E ratio?
You can see PFG’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for PFG?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is PFG a good long-term investment?
Whether PFG fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
PFG
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Daily snapshot
1.55
Trading Metrics:
| Open: | 105.56 | Previous Close: | 105.03 | |
| Day Low: | 104.98 | Day High: | 106.68 | |
| Year Low: | 75 | Year High: | 106.7 | |
| Price Avg 50: | 98.45 | Price Avg 200: | 89.53 | |
| Volume: | 920678 | Average Volume: | 1.396M |
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Login — it's freePFG full analysis
Welcome to MARKETSNAP’s SWOT analysis for Principal Financial Group, or PFG as it’s known on the ticker. If you’re a long-term investor looking to build wealth, stick around because today we’re diving deep into what makes this company tick, what’s holding it back, and where it could be headed in the years to come. Let’s unpack this financial giant operating in the insurance and asset management space, break down recent developments, and see if it’s a worthy addition to your…
