Principal Financial Group (PFG) FY2017 results: revenue $14.1 billion, up 13.7% on the year
Principal Financial Group Inc. (PFG) reported revenue of $14.1 billion for fiscal 2017, the year ended 31 December 2017, up 13.7% on the year before. Net income was $2.3 billion, up 75.5%, and diluted earnings per share $7.88. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2018.
Revenue
$14.1 billion
+13.7% on the year
FY2010FY2017
Operating margin
16.0%
12.8% a year earlier
FY2010FY2017
Net income
$2.3 billion
+75.5% on the year
FY2010FY2017
Diluted EPS
$7.88
+75.1% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
14,093
12,394
11,964
+13.7%
Operating income
2,252
1,592
1,431
+41.5%
Operating margin
16.0%
12.8%
12.0%
Income tax
-72.3
230
178
Net income
2,310
1,316
1,234
+75.5%
Net margin
16.4%
10.6%
10.3%
Diluted EPS
$7.88
$4.50
$4.06
+75.1%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
4,188
3,858
4,377
+8.6%
Cash from investing
-4,053
-5,154
-3,168
Cash from financing
-384
1,451
-509
Depreciation and amortisation
140
134
144
+4.7%
Share-based compensation
82.7
84.4
84.5
-2.0%
Buybacks
220
277
301
-20.5%
Dividends paid
540
465
441
+16.2%
Dividend per share
$1.87
$1.61
$1.50
+16.1%
Diluted shares, weighted
293m
293m
298m
+0.1%
Shares outstanding at period end
289m
288m
291m
+0.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
12,849
10,227
9,312
+25.6%
Non-controlling interest
72.6
66.5
65.8
+9.2%
Redeemable equity
101
97.5
85.7
+3.9%
Short-term borrowings
39.5
51.4
181
-23.2%
Debt
3,178
3,126
3,265
+1.7%
Other liabilities
237,700
214,446
205,776
+10.8%
Total liabilities and equity
253,941
228,014
218,686
+11.4%
Fixed assets
760
699
634
+8.7%
Goodwill
1,069
1,021
1,009
+4.7%
Intangible assets
1,315
1,325
1,359
-0.8%
Securities held for sale or to maturity
59,388
54,846
49,966
+8.3%
Cash and equivalents
2,471
2,720
2,565
-9.1%
Other assets
188,939
167,404
163,153
+12.9%
Total assets
253,941
228,014
218,686
+11.4%
10-K for the year ended 31 December 2017, filed 9 February 2018: the filing.