Principal Financial Group (PFG) FY2018 results: revenue $14.2 billion, up 1.0% on the year
Principal Financial Group Inc. (PFG) reported revenue of $14.2 billion for fiscal 2018, the year ended 31 December 2018, up 1.0% on the year before. Net income was $1.5 billion, down 33.1%, and diluted earnings per share $5.36. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$14.2 billion
+1.0% on the year
FY2011FY2018
Operating margin
12.5%
16.0% a year earlier
FY2011FY2018
Net income
$1.5 billion
-33.1% on the year
FY2011FY2018
Diluted EPS
$5.36
-32.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
14,237
14,093
12,394
+1.0%
Operating income
1,784
2,252
1,592
-20.8%
Operating margin
12.5%
16.0%
12.8%
Income tax
231
-72.3
230
Net income
1,546
2,310
1,316
-33.1%
Net margin
10.9%
16.4%
10.6%
Diluted EPS
$5.36
$7.88
$4.50
-32.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
5,156
4,188
3,858
+23.1%
Cash from investing
-5,702
-4,053
-5,154
Cash from financing
1,053
-384
1,451
Depreciation and amortisation
151
140
134
+8.0%
Share-based compensation
77.4
82.7
84.4
-6.4%
Buybacks
672
220
277
+204.7%
Dividends paid
599
540
465
+10.9%
Dividend per share
n/a
$1.87
$1.61
Diluted shares, weighted
289m
293m
293m
-1.5%
Shares outstanding at period end
280m
289m
288m
-3.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
11,390
12,849
10,227
-11.4%
Non-controlling interest
66.0
72.6
66.5
-9.1%
Redeemable equity
391
101
97.5
+286.2%
Short-term borrowings
42.9
39.5
51.4
+8.6%
Debt
3,260
3,178
3,126
+2.6%
Other liabilities
227,886
237,700
214,446
-4.1%
Total liabilities and equity
243,036
253,941
228,014
-4.3%
Fixed assets
767
760
699
+1.0%
Goodwill
1,100
1,069
1,021
+2.9%
Intangible assets
1,315
1,315
1,325
+0.0%
Securities held for sale or to maturity
60,108
59,388
54,846
+1.2%
Cash and equivalents
2,978
2,471
2,720
+20.5%
Other assets
176,768
188,939
167,404
-6.4%
Total assets
243,036
253,941
228,014
-4.3%
10-K for the year ended 31 December 2018, filed 13 February 2019: the filing.