Principal Financial Group (PFG) FY2016 results: revenue $12.4 billion, up 3.6% on the year
Principal Financial Group Inc. (PFG) reported revenue of $12.4 billion for fiscal 2016, the year ended 31 December 2016, up 3.6% on the year before. Net income was $1.3 billion, up 6.7%, and diluted earnings per share $4.50. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2017.
Revenue
$12.4 billion
+3.6% on the year
FY2009FY2016
Operating margin
12.8%
12.0% a year earlier
FY2009FY2016
Net income
$1.3 billion
+6.7% on the year
FY2009FY2016
Diluted EPS
$4.50
+10.8% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
12,394
11,964
10,478
+3.6%
Operating income
1,592
1,431
1,495
+11.2%
Operating margin
12.8%
12.0%
14.3%
Income tax
230
178
318
+29.4%
Net income
1,316
1,234
1,144
+6.7%
Net margin
10.6%
10.3%
10.9%
Diluted EPS
$4.50
$4.06
$3.65
+10.8%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
3,858
4,377
3,103
-11.9%
Cash from investing
-5,154
-3,168
n/a
Cash from financing
1,451
-509
n/a
Depreciation and amortisation
134
144
123
-7.1%
Share-based compensation
84.4
84.5
75.3
-0.1%
Buybacks
277
301
223
-7.8%
Dividends paid
465
441
377
+5.4%
Dividend per share
$1.61
$1.50
$1.28
+7.3%
Diluted shares, weighted
293m
298m
299m
-1.8%
Shares outstanding at period end
288m
291m
294m
-1.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
10,227
9,312
10,184
+9.8%
Non-controlling interest
66.5
65.8
48.0
+1.1%
Redeemable equity
97.5
85.7
58.0
+13.8%
Short-term borrowings
51.4
181
28.0
-71.6%
Debt
3,126
3,265
2,531
-4.3%
Other liabilities
214,446
205,776
206,238
+4.2%
Total liabilities and equity
228,014
218,686
219,087
+4.3%
Fixed assets
699
634
590
+10.3%
Goodwill
1,021
1,009
1,007
+1.2%
Intangible assets
1,325
1,359
1,324
-2.5%
Securities held for sale or to maturity
54,846
49,966
49,671
+9.8%
Cash and equivalents
2,720
2,565
1,864
+6.0%
Other assets
167,404
163,153
164,631
+2.6%
Total assets
228,014
218,686
219,087
+4.3%
10-K for the year ended 31 December 2016, filed 8 February 2017: the filing.