Principal Financial Group (PFG) FY2011 results: revenue $8.7 billion, down 5.7% on the year
Principal Financial Group Inc. (PFG) reported revenue of $8.7 billion for fiscal 2011, the year ended 31 December 2011, down 5.7% on the year before. Net income was $638 million, down 3.7%, and diluted earnings per share $1.91. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2012.
Revenue
$8.7 billion
-5.7% on the year
FY2007FY2011
Operating margin
10.1%
8.5% a year earlier
FY2007FY2011
Net income
$638 million
-3.7% on the year
FY2007FY2011
Diluted EPS
$1.91
-2.1% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
8,671
9,198
8,849
-5.7%
Operating income
873
786
746
+11.1%
Operating margin
10.1%
8.5%
8.4%
Income tax
198
105
100
+89.0%
Net income
638
663
623
-3.7%
Net margin
7.4%
7.2%
7.0%
Diluted EPS
$1.91
$1.95
$1.97
-2.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
2,713
2,792
2,243
-2.8%
Depreciation and amortisation
78.5
165
138
-52.3%
Share-based compensation
43.4
47.6
37.2
-8.8%
Buybacks
556
2.6
4.1
+21,300.0%
Dividends paid
214
176
160
+21.3%
Diluted shares, weighted
318m
323m
299m
-1.7%
Shares outstanding at period end
301m
320m
319m
-6.0%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
9,018
9,728
7,894
-7.3%
Non-controlling interest
354
157
123
+125.1%
Redeemable equity
22.2
n/a
n/a
Short-term borrowings
105
108
102
-2.5%
Debt
1,565
1,584
1,585
-1.2%
Other liabilities
136,298
134,054
128,057
+1.7%
Total liabilities and equity
147,362
145,631
137,759
+1.2%
Fixed assets
457
n/a
n/a
Goodwill
482
345
386
+39.6%
Intangible assets
891
835
852
+6.7%
Securities held for sale or to maturity
49,007
48,636
46,221
+0.8%
Cash and equivalents
2,834
1,877
2,240
+50.9%
Other assets
93,691
93,937
88,060
-0.3%
Total assets
147,362
145,631
137,759
+1.2%
10-K for the year ended 31 December 2011, filed 15 February 2012: the filing.