financial statements

The full income statement, balance sheet, and cash-flow statement for Principal Financial Group Inc (PFG), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	15.6B YoY-3.1%	16.1B YoY+18.0%	13.7B YoY-22.1%	17.5B YoY+21.5%	14.4B YoY-2.1%
Amortization of intangibles	72.9M YoY+10.3%	66.1M YoY-3.6%	68.6M YoY-3.0%	70.7M YoY-6.1%	75.3M YoY+2.4%
Provision for credit losses	—	—	—	—	-6.60M YoY-138.2%
Income tax	161M YoY-45.0%	292M YoY+324.6%	68.7M YoY-94.2%	1.19B YoY+319.0%	284M YoY+7.1%
	1.26B YoY-21.4%	1.60B YoY+138.5%	670M YoY-86.2%	4.85B YoY+176.1%	1.76B YoY+25.9%
Net income to non-controlling interest	70.4M YoY+161.7%	26.9M YoY-42.6%	46.9M YoY+15.5%	40.6M YoY-13.2%	46.8M YoY+43.1%
Net income to common	1.19B YoY-24.6%	1.57B YoY+152.1%	623M YoY-86.9%	4.76B YoY+201.0%	1.58B YoY+13.2%
	$5.25 YoY-21.4%	$6.68 YoY+162.0%	$2.55 YoY-86.3%	$18.63 YoY+221.8%	$5.79 YoY+14.7%
EPS (basic)	$5.32 YoY-21.4%	$6.77 YoY+162.4%	$2.58 YoY-86.4%	$18.94 YoY+222.7%	$5.87 YoY+15.6%
Weighted-avg shares (basic)	223M YoY-4.0%	232M YoY-3.9%	241M YoY-3.9%	251M YoY-6.7%	269M YoY-2.1%
Weighted-avg shares (diluted)	226M YoY-4.1%	235M YoY-3.8%	245M YoY-4.2%	255M YoY-6.4%	273M YoY-1.3%
Dividends per share	$3.08 YoY+8.1%	$2.85 YoY+9.6%	$2.60 YoY+1.6%	$2.56	—
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	4.43B YoY+5.2%	4.21B YoY-10.5%	4.71B YoY-2.9%	4.85B YoY+107.9%	2.33B YoY-18.2%
	341B YoY+8.8%	314B YoY+2.8%	305B YoY+4.9%	291B YoY-4.5%	305B YoY+2.7%
Property, plant & equipment	993M YoY+0.0%	993M YoY+0.0%	993M YoY+0.0%	993M YoY+0.0%	993M YoY+0.0%
Operating lease right-of-use	126M YoY-16.9%	151M YoY-14.3%	177M YoY-9.2%	195M YoY-7.5%	211M YoY-10.4%
Goodwill	1.60B YoY+3.3%	1.55B YoY-3.7%	1.61B YoY+0.6%	1.60B YoY-1.8%	1.63B YoY-4.9%
Intangible assets	1.27B YoY-8.8%	1.39B YoY-5.4%	1.47B YoY-4.1%	1.53B YoY-4.2%	1.60B YoY-7.1%
Deferred tax assets	220M YoY+6.1%	207M YoY-14.1%	241M YoY-21.4%	307M YoY+261.1%	85.0M YoY-25.3%
Short-term & current debt	27.7M YoY-81.9%	153M YoY+149.9%	61.1M YoY-24.3%	80.7M YoY+1.1%	79.8M YoY-5.8%
	329B YoY+8.9%	302B YoY+2.8%	294B YoY+4.7%	281B YoY-2.6%	288B YoY+3.0%
Long-term debt	3.93B YoY-0.7%	3.96B YoY+0.6%	3.93B YoY-1.7%	4.00B YoY-6.6%	4.28B YoY+0.0%
Deferred tax liabilities	1.86B YoY+8.8%	1.71B YoY+5.7%	1.61B YoY+21.8%	1.32B YoY-42.9%	2.32B YoY-0.5%
	11.9B YoY+7.2%	11.1B YoY+1.6%	10.9B YoY+9.4%	9.98B YoY-37.9%	16.1B YoY-3.0%
Common stock	5.00M YoY+2.0%	4.90M YoY+0.0%	4.90M YoY+0.0%	4.90M YoY+2.1%	4.80M YoY+0.0%
Additional paid-in capital	11.3B YoY+1.6%	11.1B YoY+1.8%	10.9B YoY+1.6%	10.7B YoY+2.3%	10.5B YoY+1.7%
Retained earnings	18.1B YoY+2.8%	17.6B YoY+5.4%	16.7B YoY-0.1%	16.7B YoY+29.6%	12.9B YoY+8.8%
Treasury stock	13.3B YoY+7.3%	12.4B YoY+9.2%	11.3B YoY+7.1%	10.6B YoY+18.6%	8.93B YoY+11.7%
Accumulated other comprehensive income	-4.19B YoY+19.8%	-5.22B YoY+2.3%	-5.35B YoY+22.3%	-6.88B YoY-527.0%	1.61B YoY-32.4%
Non-controlling interest	33.1M YoY-26.3%	44.9M YoY-1.8%	45.7M YoY+11.2%	41.1M YoY-27.1%	56.4M YoY-3.4%
Total equity incl. non-controlling	11.9B YoY+7.1%	11.1B YoY+1.5%	11.0B YoY+9.4%	10.0B YoY-17.5%	12.1B YoY-26.9%
Total liabilities & equity	341B YoY+8.8%	314B YoY+2.8%	305B YoY+4.9%	291B YoY-4.5%	305B YoY+2.7%
Common shares issued	497M YoY+0.4%	495M YoY+0.5%	492M YoY+0.5%	490M YoY+1.0%	485M YoY+0.6%
Common shares outstanding	217M YoY-3.9%	226M YoY-4.3%	236M YoY-2.9%	244M YoY-6.9%	262M YoY-4.2%
Shares outstanding (cover)	220M YoY-3.9%	229M YoY-4.1%	238M YoY-2.6%	245M YoY-7.7%	265M YoY-3.5%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	4.54B YoY-1.4%	4.60B YoY+21.4%	3.79B YoY+19.5%	3.17B YoY-2.5%	3.25B YoY-12.3%
Depreciation & amortization	251M YoY-1.9%	256M YoY-6.1%	273M YoY-7.8%	296M YoY+7.5%	275M YoY+9.3%
Share-based compensation	110M YoY+1.1%	109M YoY+9.4%	99.4M YoY+8.9%	91.3M YoY-5.0%	96.1M YoY+10.2%
Deferred income taxes	-102M YoY-1490.4%	7.30M YoY+112.8%	-57.2M YoY-104.8%	1.18B YoY+906.4%	117M YoY-38.9%
Other operating activities	11.8M YoY+105.7%	-207M YoY-41.4%	-147M YoY-16.4%	-126M YoY-717.5%	-15.4M YoY-113.6%
	-4.14B YoY+23.4%	-5.40B YoY-300.8%	-1.35B YoY-227.2%	1.06B YoY+118.6%	-5.69B YoY-14.0%
Acquisitions	—	27.1M	—	—	—
Other investing activities	672M YoY-3.0%	693M YoY-24.6%	919M YoY+1247.9%	68.2M YoY-52.2%	143M YoY+284.4%
	-182M YoY-160.5%	300M YoY+111.6%	-2.59B YoY-50.7%	-1.72B YoY-189.3%	1.92B YoY+18.5%
Long-term debt issued	—	21.8M YoY-96.8%	692M YoY+4390.3%	15.4M	—
Long-term debt repaid	400M YoY+400000.0%	100K YoY-100.0%	764M YoY+153.0%	302M YoY+16677.8%	1.80M YoY-97.3%
Net short-term debt	-9.00M YoY-109.2%	97.9M YoY+629.2%	-18.5M YoY-2155.6%	900K YoY-91.2%	10.2M YoY+181.0%
Common stock issued	43.7M YoY-35.5%	67.7M YoY+17.1%	57.8M YoY-68.2%	182M YoY+109.6%	86.7M YoY+102.6%
Common stock repurchased	903M YoY-13.4%	1.04B YoY+40.8%	740M YoY-55.4%	1.66B YoY+77.2%	937M YoY+205.3%
Dividends paid	684M YoY+3.9%	658M YoY+5.3%	626M YoY-2.6%	642M YoY-1.8%	654M YoY+6.4%
Other financing activities	-1.30M YoY-425.0%	400K YoY+33.3%	300K	—	100K YoY-50.0%
Net change in cash	219M YoY+144.2%	-496M YoY-253.4%	-140M YoY-105.6%	2.52B YoY+585.9%	-518M YoY-255.1%
Interest paid	173M YoY+1.4%	170M YoY-0.2%	171M YoY-2.9%	176M YoY+5.8%	166M YoY+2.0%
Income taxes paid	221M YoY+87.5%	118M YoY+72.8%	68.1M YoY-52.1%	142M YoY+29.3%	110M YoY+163.9%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	19.4B YoY+9.5%	17.7B YoY-5.6%	18.8B YoY-8.7%	20.5B YoY+7.1%	19.2B YoY+40.7%
P/E	15.4× YoY+39.3%	11.1× YoY-8.3%	12.1× YoY+205.7%	4.0× YoY-63.8%	10.9× YoY+11.7%
P/S	1.2× YoY+13.0%	1.1× YoY-18.4%	1.3× YoY+20.0%	1.1× YoY-15.6%	1.3× YoY+43.7%
P/B	1.6× YoY+2.1%	1.6× YoY-10.4%	1.8× YoY-19.5%	2.2× YoY+85.6%	1.2× YoY+45.0%
P/FCF	4.3× YoY+11.0%	3.8× YoY-18.9%	4.7× YoY-28.5%	6.6× YoY+12.5%	5.9× YoY+60.3%
Earnings yield	6.5% YoY-28.2%	9.0% YoY+9.0%	8.3% YoY-67.3%	25.3% YoY+176.0%	9.2% YoY-10.5%
FCF yield	23.4% YoY-9.9%	26.0% YoY+23.2%	21.1% YoY+39.8%	15.1% YoY-11.1%	17.0% YoY-37.6%
Dividend yield	3.5% YoY-5.2%	3.7% YoY+11.4%	3.3% YoY+8.3%	3.1%	—
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: PFG's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all PFG filings on SEC EDGAR → Not investment advice.

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financial statements