Principal Financial (PFG) stock
Financials · Life & Health Insurance
Principal Financial (PFG) is a Life & Health Insurance company in the Financials sector, headquartered in Des Moines, Iowa. As of October 23, 2026, PFG closed at $108.57, a market capitalization of $23.25 billion, the 375th largest company in the S&P 500. Over the last twelve months it generated $15.69 billion in revenue (+6% year over year) and $4.85 billion in free cash flow. The stock trades at 15.5x trailing earnings and 10.6x forward earnings.
- 1-year total return: +41.4% (dividends reinvested)
- 5-year return: +13.3% a year
- 52-week range: $79.48 – $121.18
- Gross margin 47.3%, operating margin 12.3%
- Dividend yield: 3.09%, 13 straight years of increases
- FI Handbook report card: B+ across 10 metrics
- 63rd largest of 76 Financials stocks in the S&P 500
PFG price chart
1Y price change: +36.7% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| PFG | -4.7% | +26.1% | +41.4% | +21.4% | +13.3% | +11.6% | +9.7% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2001.
PFG key statistics
- Market cap
- $23.2B
- #375 in S&P 500
- P/E (TTM)
- 15.5x
- Forward P/E
- 10.6x
- EPS (TTM)
- $7.02
- Revenue (TTM)
- $15.7B
- +6%
- Free cash flow
- $4.9B
- Gross margin
- 47.3%
- Operating margin
- 12.3%
- Return on equity
- 12.9%
- Dividend yield
- 3.09%
- 52-week range
- $79.48 – $121.18
- Beta
- 0.87
- Price / sales
- 1.5x
- EV / EBITDA
- 10.3x
- Debt / equity
- 0.35x
- Employees
- 19,700
PFG report card
B+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth6.4%C
- Gross margin47.3%B
- Operating margin12.3%C
- FCF margin30.9%A
- Return on equity12.9%C
- Net debt / EBITDA-0.8xA
- Forward P/E10.6xA
- PEG ratio1.1xB
- Shareholder yield7.0%A
- Share count change / yr-4.0%A
Principal Financial financials
Revenue went from $12.4B in fiscal 2016 to $15.6B in fiscal 2025, growing 2.6% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.4B | $14.1B | $14.2B | $16.2B | $14.7B | $14.4B | $17.5B | $13.7B | $16.1B | $15.6B |
| Net income | $1.3B | $2.3B | $1.5B | $1.4B | $1.4B | $1.6B | $4.8B | $623.2M | $1.6B | $1.2B |
| EPS (diluted) | $4.50 | $7.88 | $5.36 | $4.96 | $5.05 | $5.79 | $18.63 | $2.55 | $6.68 | $5.25 |
| Buybacks | $277.3M | $220.4M | $671.6M | $281.0M | $307.0M | $937.2M | $1.7B | $740.4M | $1.0B | $902.7M |
| Dividends paid | $464.9M | $540.0M | $598.6M | $606.0M | $614.5M | $654.1M | $642.3M | $625.5M | $658.4M | $684.0M |
| Diluted shares | 292.7M | 293.1M | 288.8M | 281.0M | 276.6M | 272.9M | 255.3M | 244.6M | 235.3M | 225.7M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into PFG?
A reverse DCF asks what growth the current price requires. With an enterprise value of $21.4B and $4.9B of trailing free cash flow, Principal Financial needs to grow free cash flow about -24.9% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 20.7x vs. median 13.8x (10th–90th percentile 6.8x–18.4x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
PFG dividend
- Dividend yield
- 3.09%
- Annual dividend
- $3.36
- Years of increases
- 13
- 5-yr dividend growth
- 6.6%
- per year
- Payout ratio
- 45%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
PFG earnings
Next report: October 26, 2026. Principal Financial has beaten EPS estimates 2 quarters in a row. Last quarter's revenue was $3.9B (+6% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 27, 2026 | $2.33 | $2.50 | +7.1% |
| Apr 23, 2026 | $2.01 | $2.07 | +2.9% |
| Feb 9, 2026 | $2.22 | $2.19 | -1.6% |
| Oct 27, 2025 | $2.20 | $2.10 | -4.5% |
| Jul 28, 2025 | $1.97 | $2.16 | +9.6% |
| Apr 24, 2025 | $1.83 | $1.81 | -1.0% |
| Feb 6, 2025 | $1.93 | $1.94 | +0.4% |
| Oct 24, 2024 | $2.01 | $1.76 | -12.3% |
Stocks like PFG
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 MET MetLife | -4.59% | +30% | $62.8B | 18.9x | Compare |
 AFL AFLAC | -2.24% | +14% | $60.4B | 13.0x | Compare |
 PRU Prudential Financial | -2.69% | +19% | $39.7B | 10.4x | Compare |
 GL Globe Life | -8.09% | +15% | $11.9B | 10.4x | Compare |
 BRK-B Berkshire Hathaway | -0.87% | +11% | $1.2T | 13.6x | Compare |
 JPM JP Morgan Chase | -1.47% | +15% | $880.5B | 13.9x | Compare |
 V Visa | -1.55% | +19% | $765.8B | 34.7x | Compare |
 MA Mastercard | -1.52% | +9% | $546.3B | 34.3x | Compare |
PFG news
- What's in the Cards for Principal Financial This Earnings Season? · Oct 22, 2026
- What Analyst Projections for Key Metrics Reveal About Principal Financial (PFG) Q3 Earnings · Oct 21, 2026
- Principal Financial (PFG) Earnings Expected to Grow: What to Know Ahead of Next Week's Release · Oct 19, 2026
- How Dividend Growth Will Impact Principal Financial Group (PFG) Investors · Oct 17, 2026
- Why Principal Financial (PFG) is a Great Dividend Stock Right Now · Oct 16, 2026
PFG stock FAQ
What is PFG's market cap?
Principal Financial's market capitalization is $23.25 billion as of October 23, 2026, ranking 375th in the S&P 500.
What is PFG's P/E ratio?
PFG trades at a trailing price-to-earnings ratio of 15.5x and a forward P/E of 10.6x. Its median P/E over the period we track is 13.8x.
Does PFG pay a dividend?
Yes. Principal Financial pays $3.36 per share a year, a 3.09% yield. It has raised its dividend 13 years in a row. Dividends grew 6.6% a year over the last five years.
How much has PFG stock returned?
Including reinvested dividends, PFG returned +41.4% over one year, +13.3% a year over five years, +11.6% a year over ten years through October 23, 2026.
Is PFG stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Principal Financial must grow free cash flow about -25% a year for the next decade. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
When does PFG report earnings?
Principal Financial is expected to report earnings on October 26, 2026. It has beaten EPS estimates 2 quarters in a row.
How many employees does Principal Financial have?
Principal Financial has about 19,700 full-time employees, or $796,609 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology