Principal Financial Group (PFG) FY2013 results: revenue $9.3 billion, up 0.8% on the year
Principal Financial Group Inc. (PFG) reported revenue of $9.3 billion for fiscal 2013, the year ended 31 December 2013, up 0.8% on the year before. Net income was $913 million, up 13.3%, and diluted earnings per share $2.95. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2014.
Revenue
$9.3 billion
+0.8% on the year
FY2007FY2013
Operating margin
12.1%
10.4% a year earlier
FY2007FY2013
Net income
$913 million
+13.3% on the year
FY2007FY2013
Diluted EPS
$2.95
+14.8% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
9,290
9,215
8,671
+0.8%
Operating income
1,124
959
873
+17.2%
Operating margin
12.1%
10.4%
10.1%
Income tax
188
135
198
+39.5%
Net income
913
806
638
+13.3%
Net margin
9.8%
8.7%
7.4%
Diluted EPS
$2.95
$2.57
$1.91
+14.8%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
2,221
3,081
2,713
-27.9%
Depreciation and amortisation
110
87.0
78.5
+25.9%
Share-based compensation
68.5
63.8
43.4
+7.4%
Buybacks
154
273
556
-43.7%
Dividends paid
288
231
214
+24.7%
Dividend per share
$0.98
$0.78
n/a
+25.6%
Diluted shares, weighted
298m
300m
318m
-0.7%
Shares outstanding at period end
295m
294m
301m
+0.5%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
9,684
9,683
9,018
+0.0%
Non-controlling interest
92.8
20.0
354
+364.0%
Redeemable equity
247
60.4
22.2
+309.3%
Short-term borrowings
151
40.8
105
+269.1%
Debt
2,601
2,671
1,565
-2.6%
Other liabilities
195,415
149,451
136,298
+30.8%
Total liabilities and equity
208,191
161,926
147,362
+28.6%
Fixed assets
501
464
457
+7.9%
Goodwill
1,100
543
482
+102.5%
Intangible assets
1,459
915
891
+59.5%
Securities held for sale or to maturity
48,757
50,939
49,007
-4.3%
Cash and equivalents
2,372
4,177
2,834
-43.2%
Other assets
154,002
104,888
93,691
+46.8%
Total assets
208,191
161,926
147,362
+28.6%
10-K for the year ended 31 December 2013, filed 12 February 2014: the filing.