Tearsheet
PFG Home Investment Highlights Valuation, Metrics & Events Price Chart Why The Stock Moved Return vs. Risk About PFG Interactive Breakdown Better Bets vs. PFG Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Principal Financial (PFG)

Market Price (12/29/2025): $89.37 | Market Cap: $19.9 Bil
Sector: Financials | Industry: Life & Health Insurance

Principal Financial (PFG)

Market Price (12/29/2025): $89.37
Market Cap: $19.9 Bil
Sector: Financials
Industry: Life & Health Insurance

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 3.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.2%, FCF Yield is 21%		 Trading close to highs
Dist 52W High is -2.4%, Dist 3Y High is -2.4%		 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.1%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -141%		 Weak multi-year price returns
2Y Excs Rtn is -24%, 3Y Excs Rtn is -64%		 Key risks
PFG key risks include [1] persistent net outflows and [2] underperformance in its asset management business.
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 26%, CFO LTM is 4.3 Bil, FCF LTM is 4.2 Bil		  
3 Low stock price volatility
Vol 12M is 28%		  
4 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments, AI in Financial Services, and Sustainable Finance. Themes include Wealth Management Technology, Show more.		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 3.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.2%, FCF Yield is 21%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -141%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 26%, CFO LTM is 4.3 Bil, FCF LTM is 4.2 Bil
3 Low stock price volatility
Vol 12M is 28%
4 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments, AI in Financial Services, and Sustainable Finance. Themes include Wealth Management Technology, Show more.
5 Trading close to highs
Dist 52W High is -2.4%, Dist 3Y High is -2.4%
6 Weak multi-year price returns
2Y Excs Rtn is -24%, 3Y Excs Rtn is -64%
7 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.1%
8 Key risks
PFG key risks include [1] persistent net outflows and [2] underperformance in its asset management business.

Valuation, Metrics & Events

PFG Stock

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Here are the key points highlighting the movement of Principal Financial (PFG) stock by approximately 13.2% from late August 2025 to late December 2025:

1. Strong Q2 2025 Earnings Report. Principal Financial Group reported an 18% increase in earnings per share (EPS) in its second-quarter 2025 financial results, released on July 29, 2025. This strong performance, supported by revenue growth, margin expansion, expense discipline, and share repurchases, provided a positive outlook for the company heading into the requested period.

2. Leadership Stability and Investor Confidence. The election of President and CEO Deanna Strable as chair of the board, effective September 2, 2025, alongside CFO Joel Pitz's reiterated commitment to capital return targets, contributed to investor confidence in the company's stable leadership and strategic direction.

Show more

Stock Movement Drivers

Fundamental Drivers

The 9.2% change in PFG stock from 9/28/2025 to 12/28/2025 was primarily driven by a 32.2% change in the company's Net Income Margin (%).
928202512282025Change
Stock Price ($)81.8589.389.21%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)15130.8015800.804.43%
Net Income Margin (%)7.53%9.96%32.21%
P/E Multiple16.0912.63-21.50%
Shares Outstanding (Mil)224.10222.400.76%
Cumulative Contribution9.20%

LTM = Last Twelve Months as of date shown

Market Drivers

9/28/2025 to 12/28/2025
ReturnCorrelation
PFG9.2% 
Market (SPY)4.3%42.8%
Sector (XLF)3.3%57.7%

Fundamental Drivers

The 15.1% change in PFG stock from 6/29/2025 to 12/28/2025 was primarily driven by a 44.5% change in the company's Net Income Margin (%).
629202512282025Change
Stock Price ($)77.6889.3815.05%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)15770.3015800.800.19%
Net Income Margin (%)6.89%9.96%44.53%
P/E Multiple16.1412.63-21.71%
Shares Outstanding (Mil)225.70222.401.46%
Cumulative Contribution15.03%

LTM = Last Twelve Months as of date shown

Market Drivers

6/29/2025 to 12/28/2025
ReturnCorrelation
PFG15.1% 
Market (SPY)12.6%44.7%
Sector (XLF)7.4%60.6%

Fundamental Drivers

The 19.5% change in PFG stock from 12/28/2024 to 12/28/2025 was primarily driven by a 12.3% change in the company's Total Revenues ($ Mil).
1228202412282025Change
Stock Price ($)74.8189.3819.48%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)14066.5015800.8012.33%
P/S Multiple1.231.262.54%
Shares Outstanding (Mil)230.70222.403.60%
Cumulative Contribution19.33%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2024 to 12/28/2025
ReturnCorrelation
PFG19.5% 
Market (SPY)17.0%75.9%
Sector (XLF)15.3%81.3%

Fundamental Drivers

The 16.5% change in PFG stock from 12/29/2022 to 12/28/2025 was primarily driven by a 239.6% change in the company's P/E Multiple.
1229202212282025Change
Stock Price ($)76.7189.3816.52%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)18641.5015800.80-15.24%
Net Income Margin (%)27.44%9.96%-63.70%
P/E Multiple3.7212.63239.64%
Shares Outstanding (Mil)248.00222.4010.32%
Cumulative Contribution15.28%

LTM = Last Twelve Months as of date shown

Market Drivers

12/29/2023 to 12/28/2025
ReturnCorrelation
PFG22.2% 
Market (SPY)48.4%65.4%
Sector (XLF)51.8%78.3%

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
PFG Return-5%51%20%-3%2%20%105%
Peers Return16%38%-12%21%26%16%150%
S&P 500 Return16%27%-19%24%23%18%114%

Monthly Win Rates [3]
PFG Win Rate58%67%58%50%58%75% 
Peers Win Rate52%65%42%68%57%52% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
PFG Max Drawdown-56%-3%-14%-21%-6%-9% 
Peers Max Drawdown-34%-5%-26%-7%-9%-23% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See PFG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique KeyEventPFGS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-31.1%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven45.1%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-57.7%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven136.3%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven336 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-45.3%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven82.7%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven1,107 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-91.7%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven1102.7%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven3,187 days1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Principal Financial's stock fell -31.1% during the 2022 Inflation Shock from a high on 11/11/2022. A -31.1% loss requires a 45.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Principal Financial (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 Global Investors, Principal International, and U.S. Insurance Solutions segments. The Retirement and Income Solutions segment provides a portfolio of asset accumulation products and services for retirement savings and income. It offers products and services for defined contribution plans, including 401(k) and 403(b) plans, defined benefit pension 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, and bank products. The Principal Global Investors segment provides equity, fixed income, real estate, and other alternative investments, as well as asset allocation, stable value management, and other structured investment strategies. The Principal International segment offers pension accumulation products and services, mutual funds, asset management, income annuities, and life insurance accumulation products, as well as voluntary savings plans in Brazil, Chile, Mexico, China, Hong Kong Special Administrative Region, India, and Southeast Asia. The U.S. Insurance Solutions segment provides specialty benefits, such as group dental and vision insurance, group life 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 in the United States. It also offers insurance solutions for small and medium-sized businesses and their owners, as well as executives. Principal Financial Group, Inc. was founded in 1879 and is based in Des Moines, Iowa.

AI Analysis | Feedback

Here are 1-3 brief analogies for Principal Financial (PFG):

  • A blend of Fidelity's retirement services and Prudential's insurance offerings.
  • Essentially MetLife, providing a broad range of retirement, investment, and insurance solutions.
  • Think T. Rowe Price for investment and retirement, plus Lincoln Financial for insurance.

AI Analysis | Feedback

Principal Financial Group (PFG) offers a range of financial products and services, primarily categorized as:
  • Retirement Plans: Services helping businesses offer and manage various defined contribution and defined benefit retirement plans for their employees.
  • Annuities: Financial contracts that provide a steady stream of income, often used for retirement, for a specified period or for life.
  • Life Insurance: Products offering financial protection to beneficiaries upon the death of the insured, safeguarding families and businesses.
  • Group Benefits: Services providing employers with various employee benefits such as dental, vision, short-term and long-term disability insurance.
  • Asset Management: Investment management services for institutional clients, mutual funds, and other investment solutions across various asset classes.

AI Analysis | Feedback

Principal Financial Group (symbol: PFG) primarily sells its financial products and services to other companies and institutional clients, although individuals are often the ultimate beneficiaries or participants in the plans managed by Principal. Its major customers, therefore, are typically businesses and institutions rather than direct individual consumers.

The categories of major customers for Principal Financial include:

  • Employers (Small, Mid-Market, and Large Corporations): These companies engage Principal to provide a wide range of employee benefits, including workplace retirement plans (such as 401(k) and 403(b)), group life insurance, disability insurance, and other voluntary benefits like dental and vision insurance for their employees.
  • Institutional Investors: This category includes corporate and public pension funds, endowments, foundations, sovereign wealth funds, and other financial institutions that utilize Principal Global Investors for various asset management and investment solutions.
  • Financial Intermediaries and Advisors: Principal partners with independent financial advisors, broker-dealers, and consultants who then offer Principal's investment products (e.g., mutual funds, annuities) and insurance solutions to their own individual and business clients. While not the end-user, these intermediaries are crucial B2B customers for product distribution.

AI Analysis | Feedback

  • IBM (NYSE: IBM)
  • Ernst & Young LLP

AI Analysis | Feedback

Deanna D. Strable, Chair, President and Chief Executive Officer

Deanna D. Strable became Chair, President, and Chief Executive Officer of Principal Financial Group in January 2025. She previously served as President and Chief Operating Officer, a role she assumed in August 2024, and before that, she was the Executive Vice President and Chief Financial Officer. Her career at Principal Financial Group demonstrates a long tenure and progression through various senior leadership positions.

Joel M. Pitz, Executive Vice President and Chief Financial Officer

Joel M. Pitz was appointed Executive Vice President and Chief Financial Officer in May 2025. He has a career spanning three decades with Principal Financial Group. Prior to his current role, he served as Senior Vice President and Controller, and also as interim CFO starting in August 2024. His experience at Principal includes serving as CFO for international businesses, where he was responsible for global finance and strategy for emerging market operations, and he has also held the position of chief accounting officer.

Daniel J. Houston, Executive Chair of the Board of Directors

Daniel J. Houston transitioned to Executive Chair of the Board of Directors in January 2025. He previously held the positions of Chairman, President, and Chief Executive Officer of Principal Financial Group, a role he took on in 2015. Mr. Houston joined Principal in 1984 and has held several management positions, including senior vice president in 2000, executive vice president in 2006, and president of Retirement and Income Solutions in 2008. He was named president and chief operating officer in 2014.

Amy C. Friedrich, President, Benefits and Protection

Amy C. Friedrich serves as the President of Benefits and Protection, also referred to as President of U.S. Insurance Solutions, at Principal Financial Group.

Christopher J. Littlefield, President, Retirement and Income Solutions

Christopher J. Littlefield is the President of Retirement and Income Solutions for Principal Financial Group.

AI Analysis | Feedback

The key risks to Principal Financial's business are:

  1. Sensitivity to Market Conditions and Interest Rates: Principal Financial's financial performance is significantly influenced by broader market conditions, economic downturns, and changes in interest rates. Fluctuations in these areas can impact the company's investment portfolio, leading to variations in financial results. Specifically, a sustained low interest rate environment or sudden shifts in interest rates can adversely affect profitability, financial condition, and liquidity. Periods of rising interest rates may necessitate offering more competitive crediting rates on insurance and annuity products, potentially narrowing profit margins if returns on invested assets do not keep pace. Furthermore, rapid increases in interest rates can trigger higher policy surrenders, withdrawals, and requests for policy loans.

  2. Net Outflows and Underperformance in Asset Management: The company faces ongoing challenges with persistent net outflows, particularly within its fee-focused businesses, such as Retirement and Income Solutions (RIS) and Principal Asset Management. These outflows can directly reduce assets under management (AUM) and subsequently impact fee-based revenue, posing a challenge to long-term growth prospects and market share in competitive segments. Mixed fund performance, with a relatively low percentage of funds outperforming benchmarks, further contributes to these outflows and raises concerns about future earnings growth.

  3. Cybersecurity Incidents and Technology Disruption: Principal Financial is exposed to the costs and risks associated with potential cybersecurity incidents or other technology disruptions. Given the company's reliance on technology, any disruption or delay in the implementation of new technological solutions, including artificial intelligence, could also pose significant risks to its operations.

AI Analysis | Feedback

  • Proliferation of low-cost, AI-driven robo-advisors and direct-to-consumer investment platforms: These platforms offer automated investment management and financial advice at significantly lower costs, often with superior digital user experiences. This directly threatens Principal's traditional advisory services, wealth management, and retirement solutions by attracting younger investors, smaller plans, and individuals seeking more accessible, digital-first solutions, leading to fee compression and potential market share erosion.
  • Rapid growth and innovation of Insurtech companies: These digital-first insurance providers leverage advanced data analytics, AI, and streamlined online processes to offer life, disability, and annuity products that are often more personalized, quicker to underwrite, and potentially lower-cost than traditional offerings. This challenges Principal's U.S. Insurance Solutions segment by disrupting traditional distribution channels, accelerating customer expectations for digital experiences, and introducing new competitive pricing models.

    • AI Analysis | Feedback

    Principal Financial Group (PFG) operates within substantial addressable markets for its core products and services, primarily encompassing retirement solutions, asset management, and various insurance offerings, including group benefits.

    Addressable Markets for Principal Financial Group's Main Products and Services:

    • Retirement Solutions:

      • U.S. Market: The U.S. retirement market, including assets in corporate, governmental, and not-for-profit Defined Contribution (DC) plans, Defined Benefit (DB) plans, and Individual Retirement Accounts (IRAs), was estimated at approximately $36 trillion as of 2024. Other estimates place U.S. pension assets at $38 trillion by the end of 2024. The U.S. Pension Funds Market was valued at USD 6.12 trillion in 2024 and is projected to reach USD 10.24 trillion by 2030.
      • Global Market: Global pension assets reached a record high of $58.5 trillion in 2024. This market is projected to reach $67.16 trillion in 2025 and is expected to climb to $88.28 trillion by 2030.

    • Asset Management:

      • U.S. Market: The U.S. asset management market was valued at USD 63.28 trillion in 2025 and is forecast to expand to USD 112.17 trillion by 2030.
      • Global Market: The global asset management industry grew to a record-breaking $128 trillion in assets under management (AuM) in 2024. The global asset management market size was estimated at USD 458.02 billion in 2023 and is expected to reach USD 3,677.39 billion by 2030, growing at a CAGR of 36.4%. Another report indicates that the global asset management market generated a revenue of USD 264,680.2 million in 2023 and is expected to reach USD 1,379,133.1 million by 2030.

    • Insurance (Life, Health, and Group Benefits):

      • U.S. Market (Overall Insurance): The U.S. insurance market size was valued at USD 1.48 trillion in 2023 and is predicted to reach USD 2.39 trillion by 2030. The United States life and non-life insurance market size reached USD 3.239 trillion in 2025 and is forecast to touch USD 3.851 trillion by 2030. The U.S. insurance industry's net premiums written totaled $1.7 trillion in 2024.
      • U.S. Market (Group Health Insurance): The U.S. group health insurance market size was estimated at USD 1.41 trillion in 2024.
      • Global Market (Overall Insurance): The global insurance market size was valued at $9.0 trillion in 2023, and is projected to reach $28.5 trillion by 2032. Global premium income reached EUR 7.0 trillion (approximately $7.6 trillion USD) in 2024.
      • Global Market (Group Insurance): The global group insurance market size is set to grow from USD 1.2 trillion in 2023 to an estimated USD 2.5 trillion by 2032. Within this, the global group life insurance market is valued at USD 164.40 billion in 2025 and is projected to reach USD 405.10 billion by 2034.

    AI Analysis | Feedback

    Principal Financial Group (PFG) is expected to drive future revenue growth over the next 2-3 years through several key strategic initiatives and market opportunities:

    1. Expansion within the Retirement Ecosystem: Principal Financial is strategically focused on leveraging its leadership in recordkeeping to grow its Retirement Ecosystem. This includes increasing Workplace Savings and Retirement Solutions (WSRS) transfer deposits and overall Retirement and Income Solutions (RIS) sales. The company has observed strong growth in WSRS transfer deposits and recurring deposits from small and mid-sized businesses (SMBs), indicating continued expansion in this segment.

    2. Growth in Global Asset Management: A significant driver of future revenue is anticipated from Principal Asset Management. This involves increasing gross sales in Investment Management, attracting net inflows into its ETF business, and expanding in private markets. The company plans to leverage privileged partnerships to scale its global asset management capabilities.

    3. Strength in Specialty Benefits Business: The Specialty Benefits segment is expected to continue contributing to revenue growth through favorable underwriting results and overall business expansion. Principal Financial emphasizes pricing discipline, which has led to strong underwriting performance and margin expansion in this area.

    4. Strategic Focus on Higher-Growth, Capital-Efficient Businesses: Following a strategic review, Principal Financial has sharpened its focus on its higher-growth, more capital-efficient businesses, specifically retirement in the U.S. and select emerging markets, global asset management, and U.S. specialty benefits and protection for small-to-medium-sized businesses. This refined portfolio and capital management strategy are designed to drive profitable growth and generate long-term value.

    5. Positive Market Performance and Fee-Based Revenue: While not directly controlled by the company, a favorable market environment, particularly stronger equity markets, is expected to increase customer account values. This, in turn, can lead to improved fee-based revenue for Principal Financial, as a significant portion of its income is tied to assets under management (AUM).

    AI Analysis | Feedback

    The capital allocation decisions of Principal Financial (PFG) over the last 3-5 years have primarily focused on returning capital to shareholders through repurchases and dividends, alongside strategic investments in high-growth areas.

    Share Repurchases

    • In February 2024, the board authorized a share repurchase program of up to $1.5 billion, which has no expiration date.
    • Principal Financial expects to conduct $800 million to $1.1 billion in share repurchases in 2024, as part of a total capital deployment target of $1.5 billion to $1.8 billion for the year.
    • For the full year 2025, the company targets $700 million to $1 billion in share repurchases, within a total capital return goal of $1.4 billion to $1.7 billion.

    Share Issuance

    • The number of outstanding shares for Principal Financial has consistently decreased over the last few years, indicating net share repurchases rather than issuances. For instance, shares outstanding decreased from 0.27 billion in 2020 to 0.22 billion in 2025.

    Outbound Investments

    • Principal Financial is strategically expanding its investments in data centers, having raised $3.64 billion in capital for its Data Center Growth & Income Fund in March 2025, with the fund expected to capitalize more than $8 billion of hyperscale development assets.
    • In October 2025, Principal partnered with Barings on a new $1 billion portfolio finance initiative to strengthen its private credit platform.

    Latest Trefis Analyses

    Title
    0ARTICLES

    Trade Ideas

    Select ideas related to PFG. For more, see Trefis Trade Ideas.

    Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
    WU_11212025_Dip_Buyer_FCFYield11212025WUWestern UnionDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
    Buying dips for companies with high FCF yield and meaningfully high operating margin    		14.5%14.5%-0.4%
    COIN_11212025_Monopoly_xInd_xCD_Getting_Cheaper11212025COINCoinbase GlobalMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
    Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple    		-1.5%-1.5%-1.5%
    PYPL_11142025_Dip_Buyer_FCFYield11142025PYPLPayPalDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
    Buying dips for companies with high FCF yield and meaningfully high operating margin    		-4.5%-4.5%-7.5%
    V_11142025_Monopoly_xInd_xCD_Getting_Cheaper11142025VVisaMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
    Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple    		7.6%7.6%-2.7%
    WD_11072025_Dip_Buyer_ValueBuy11072025WDWalker & DunlopDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
    Buying dips for companies with tame PE and meaningfully high operating margin    		-11.1%-11.1%-12.1%
    PFG_12312022_Quality_Momentum_RoomToRun_10%12312022PFGPrincipal FinancialQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
    Buying quality stocks with strong momentum but still having room to run    		-8.0%-2.8%-20.6%

    Recent Active Movers

    More From Trefis

    Research & Analysis

    Invest in Strategies

    Wealth Management

    Peer Comparisons for Principal Financial

    Peers to compare with:

    Financials

    PFGHPQHPEIBMCSCOAAPLMedian
    NamePrincipa.HP Hewlett .Internat.Cisco Sy.Apple  
    Mkt Price89.3823.2624.49305.0978.16273.4083.77
    Mkt Cap19.921.932.6284.9309.24,074.4158.8
    Rev LTM15,80155,29534,29665,40257,696408,62556,496
    Op Inc LTM-3,6241,64411,54412,991130,21411,544
    FCF LTM4,1722,80062711,85412,73396,1848,013
    FCF 3Y Avg4,0292,9781,40011,75313,879100,5037,891
    CFO LTM4,2523,6972,91913,48313,744108,5658,868
    CFO 3Y Avg4,1173,6723,89613,49814,736111,5598,808

    Growth & Margins

    PFGHPQHPEIBMCSCOAAPLMedian
    NamePrincipa.HP Hewlett .Internat.Cisco Sy.Apple  
    Rev Chg LTM12.3%3.2%13.8%4.5%8.9%6.0%7.4%
    Rev Chg 3Y Avg-4.1%-3.9%6.5%2.6%3.7%1.8%2.2%
    Rev Chg Q22.2%4.2%14.4%9.1%7.5%9.6%9.4%
    QoQ Delta Rev Chg LTM4.4%1.1%3.7%2.1%1.8%2.1%2.1%
    Op Mgn LTM-6.6%4.8%17.7%22.5%31.9%17.7%
    Op Mgn 3Y Avg-7.4%7.2%16.4%24.2%30.8%16.4%
    QoQ Delta Op Mgn LTM--0.2%-1.4%0.6%0.4%0.1%0.1%
    CFO/Rev LTM26.9%6.7%8.5%20.6%23.8%26.6%22.2%
    CFO/Rev 3Y Avg28.1%6.8%12.7%21.4%26.1%28.4%23.8%
    FCF/Rev LTM26.4%5.1%1.8%18.1%22.1%23.5%20.1%
    FCF/Rev 3Y Avg27.5%5.5%4.6%18.6%24.6%25.6%21.6%

    Valuation

    PFGHPQHPEIBMCSCOAAPLMedian
    NamePrincipa.HP Hewlett .Internat.Cisco Sy.Apple  
    Mkt Cap19.921.932.6284.9309.24,074.4158.8
    P/S1.30.41.04.45.410.02.8
    P/EBIT-6.819.925.122.531.322.5
    P/E12.68.6572.736.029.941.033.0
    P/CFO4.75.911.221.122.537.516.2
    Total Yield11.3%14.1%2.3%5.0%5.4%2.8%5.2%
    Dividend Yield3.4%2.5%2.1%2.2%2.1%0.4%2.1%
    FCF Yield 3Y Avg21.8%10.6%5.5%6.4%6.0%3.1%6.2%
    D/E0.20.50.70.20.10.00.2
    Net D/E-1.40.30.60.20.00.00.1

    Returns

    PFGHPQHPEIBMCSCOAAPLMedian
    NamePrincipa.HP Hewlett .Internat.Cisco Sy.Apple  
    1M Rtn6.4%-3.6%12.7%-1.1%1.6%-2.0%0.2%
    3M Rtn9.2%-11.9%2.7%7.9%17.0%7.1%7.5%
    6M Rtn15.1%-4.0%34.5%6.6%15.2%36.3%15.1%
    12M Rtn19.5%-27.0%16.2%40.5%34.5%7.5%17.8%
    3Y Rtn16.5%-3.7%67.3%141.3%79.6%114.1%73.5%
    1M Excs Rtn4.1%-5.6%12.9%-2.2%-0.0%-3.7%-1.1%
    3M Excs Rtn4.9%-16.2%-1.7%3.6%12.7%2.8%3.2%
    6M Excs Rtn2.8%-16.3%22.3%-5.7%3.0%24.0%2.9%
    12M Excs Rtn4.0%-42.9%-0.7%25.0%19.9%-8.4%1.6%
    3Y Excs Rtn-63.9%-83.5%-11.2%59.6%-1.2%28.4%-6.2%

    Financials

    Segment Financials

    Assets by Segment
    $ Mil20242023202220212020
    Retirement and Income Solutions213,208202,294221,994207,288192,698
    Principal Asset Management45,90545,951   
    Benefits and Protection43,76440,048   
    Corporate2,1702,2854,1833,8983,499
    Principal Global Investors  2,4452,2942,363
    Principal International  42,81251,70848,858
    U.S. Insurance Solutions  33,22331,43928,670
    Total305,047290,578304,657296,628276,088


    Price Behavior

    Price Behavior
    Market Price$89.38 
    Market Cap ($ Bil)19.9 
    First Trading Date10/23/2001 
    Distance from 52W High-2.4% 
       50 Days200 Days
    DMA Price$84.10$79.17
    DMA Trendindeterminateup
    Distance from DMA6.3%12.9%
     3M1YR
    Volatility21.9%28.2%
    Downside Capture64.4599.69
    Upside Capture93.65101.79
    Correlation (SPY)43.4%76.0%
    PFG Betas & Captures as of 11/30/2025

     1M2M3M6M1Y3Y
    Beta0.590.690.790.911.101.03
    Up Beta0.32-0.090.160.641.051.03
    Down Beta0.411.301.051.051.271.19
    Up Capture88%67%86%87%92%66%
    Bmk +ve Days12253873141426
    Stock +ve Days11243673133389
    Down Capture58%65%86%100%105%101%
    Bmk -ve Days7162452107323
    Stock -ve Days8172551113358

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
     Comparison of PFG With Other Asset Classes (Last 1Y)
     PFGSector ETFEquityGoldCommoditiesReal EstateBitcoin
    Annualized Return20.1%16.3%17.8%72.1%8.6%4.4%-8.2%
    Annualized Volatility27.9%19.0%19.4%19.3%15.2%17.0%35.0%
    Sharpe Ratio0.640.670.722.700.340.09-0.08
    Correlation With Other Assets 81.2%75.9%-3.0%28.6%65.5%24.2%

    ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
     Comparison of PFG With Other Asset Classes (Last 5Y)
     PFGSector ETFEquityGoldCommoditiesReal EstateBitcoin
    Annualized Return17.2%16.1%14.7%18.7%11.5%4.6%30.8%
    Annualized Volatility27.2%18.9%17.1%15.5%18.7%18.9%48.6%
    Sharpe Ratio0.600.710.700.970.500.160.57
    Correlation With Other Assets 82.4%65.5%2.6%23.8%54.9%24.2%

    ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
     Comparison of PFG With Other Asset Classes (Last 10Y)
     PFGSector ETFEquityGoldCommoditiesReal EstateBitcoin
    Annualized Return11.1%13.2%14.8%15.3%7.0%5.3%69.2%
    Annualized Volatility32.3%22.3%18.0%14.7%17.6%20.8%55.8%
    Sharpe Ratio0.410.550.710.860.320.220.90
    Correlation With Other Assets 85.6%71.2%-5.5%32.3%59.0%15.6%

    ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date12152025
    Short Interest: Shares Quantity5,106,958
    Short Interest: % Change Since 113020252.7%
    Average Daily Volume1,225,683
    Days-to-Cover Short Interest4.17
    Basic Shares Quantity222,400,000
    Short % of Basic Shares2.3%

    Returns Analyses

    Earnings Returns History

    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    10/27/20253.3%4.3%6.4%
    7/28/2025-0.2%-5.6%0.2%
    4/24/2025-2.1%-1.2%2.7%
    2/6/20252.9%8.7%4.6%
    10/24/2024-6.6%-8.1%-4.4%
    7/25/2024-3.4%-5.9%-5.9%
    4/25/2024-2.4%-0.7%1.4%
    2/12/20240.4%1.7%3.4%
    ...
    SUMMARY STATS   
    # Positive101216
    # Negative14128
    Median Positive3.1%3.0%5.9%
    Median Negative-3.1%-4.3%-7.1%
    Max Positive7.5%15.0%29.3%
    Max Negative-6.6%-8.1%-13.1%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    09/30/202510/29/202510-Q (09/30/2025)
    06/30/202507/30/202510-Q (06/30/2025)
    03/31/202504/30/202510-Q (03/31/2025)
    12/31/202402/19/202510-K (12/31/2024)
    09/30/202410/30/202410-Q (09/30/2024)
    06/30/202407/31/202410-Q (06/30/2024)
    03/31/202405/01/202410-Q (03/31/2024)
    12/31/202302/20/202410-K (12/31/2023)
    09/30/202311/01/202310-Q (09/30/2023)
    06/30/202308/02/202310-Q (06/30/2023)
    03/31/202305/03/202310-Q (03/31/2023)
    12/31/202202/16/202310-K (12/31/2022)
    09/30/202211/02/202210-Q (09/30/2022)
    06/30/202208/09/202210-Q (06/30/2022)
    03/31/202205/04/202210-Q (03/31/2022)
    12/31/202102/11/202210-K (12/31/2021)

    Insider Activity

    Expand for More
     OwnerTitleFiling DateActionPriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    0Cheong Wee YeeEVP, Principal Asia11132025Sell85.041,887160,4706,924,042Form

    Industry Resources

    External Quote Links


    Prefer one of these to Trefis? Tell us why.