Principal Financial Group (PFG) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Principal Financial Group

NasdaqGS•Financial Services•Asset Management

$115.94-0.70(-0.01%)After hours

Market Cap

$25.18B

P/E

16.2x

P/S

1.6x

P/B

2.1x

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. The Retirement and Income Solutions segment provides retirement, and related financial products and services. This segment offers products and services for defined contribution plans, including 401(k) and 403(b) plans, defined benefit 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, registered index-linked annuities, and bank products, as well as trust and custody services. The Principal Asset Management segment provides equity, fixed income, real estate, and other alternative investments, as well as fund offerings. This segment also offers pension accumulation products and services, mutual funds, asset management, income annuities, and life insurance accumulation products, as well as voluntary savings plans. The Benefits and Protection segment provides specialty benefits, such as specialty benefits group dental and vision insurance, group life and other 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. This segment serves insurance solutions for small and medium-sized businesses and their owners, as well as employees. The company was founded in 1879 and is based in Des Moines, Iowa.

How this company scores

GoodMetricSide Score: 77/100

Strongest: Cash & Earnings Quality (23/25); weakest: Growth (17/25).

Profitability18/25

Growth17/25

Balance Sheet & Red Flags19/25

Cash & Earnings Quality23/25

Strengths

Rising earningsLow leverageCash-backed earningsConsistent free cash flow

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 16.2x5y range 3.3x – 30.0x

Currently above its 19-quarter median.

P/S · 1.6x5y range 1.0x – 1.6x

Currently above its 20-quarter median.

P/B · 2.1x5y range 1.1x – 2.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Price & Volume

Market Cap $25.18B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $15.69B
Q. Revenue: $3.91B
TTM EBITDA: $1.86B
TTM Op. Income: $1.86B
Q. Op. Income: $496.30M
TTM Net Income: $1.56B
Q. Net Income: $403.40M
EPS: $1.87
Shares Out.: $215.90M

$15.69B in TTM revenue grew 3.7% YoY, reaching $3.91B last quarter. TTM EBITDA of $1.86B and TTM operating income of $1.86B show growth is flowing through to the bottom line. TTM net income of $1.56B means revenue is converting into profit. Over the past year, TTM revenue is up 4% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 12.7%
Op. Margin: 12.7%
Net Margin: 10.3%

Op. margin of 12.7% is down 1.0% YoY — costs are rising relative to revenue. Net margin at 10.3% Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 16.2x
P/S Ratio: 1.6x
P/B Ratio: 2.1x

At 16.2x P/E, the stock trades within typical market levels. P/S of 1.6x and P/B of 2.1x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 3% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $352.75B
Cash: $5.26B
Long-Term Debt: $4.32B
Book Value: $12.14B
D/E Ratio: 0.4
Debt/EBITDA: 8.7

With $352.75B in assets and $4.32B in long-term debt, D/E is 0.4and book value is $12.14B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $2.08B
TTM Free Cash Flow: $4.85B
FCF Margin: 30.9%
FCF / Net Income: 3.1

TTM FCF of $4.85B on $2.08B in operating cash flow. The FCF / Net Income ratio of 3.1x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 13% — an improving trend.