Principal Financial Group (PFG) FY2019 results: revenue $16.2 billion, up 13.9% on the year
Principal Financial Group Inc. (PFG) reported revenue of $16.2 billion for fiscal 2019, the year ended 31 December 2019, up 13.9% on the year before. Net income was $1.4 billion, down 9.8%, and diluted earnings per share $4.96. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2020.
Revenue
$16.2 billion
+13.9% on the year
FY2012FY2019
Operating margin
10.4%
12.5% a year earlier
FY2012FY2019
Net income
$1.4 billion
-9.8% on the year
FY2012FY2019
Diluted EPS
$4.96
-7.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
16,222
14,237
14,093
+13.9%
Operating income
1,693
1,784
2,252
-5.1%
Operating margin
10.4%
12.5%
16.0%
Income tax
249
231
-72.3
+8.0%
Net income
1,394
1,546
2,310
-9.8%
Net margin
8.6%
10.9%
16.4%
Diluted EPS
$4.96
$5.36
$7.88
-7.5%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
5,493
5,156
4,188
+6.5%
Cash from investing
-7,688
-5,702
-4,053
Cash from financing
1,734
1,053
-384
+64.7%
Depreciation and amortisation
167
151
140
+10.5%
Share-based compensation
82.6
77.4
82.7
+6.7%
Buybacks
281
672
220
-58.2%
Dividends paid
606
599
540
+1.2%
Dividend per share
n/a
n/a
$1.87
Diluted shares, weighted
281m
289m
293m
-2.7%
Shares outstanding at period end
277m
280m
289m
-1.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
14,618
11,390
12,849
+28.3%
Non-controlling interest
67.8
66.0
72.6
+2.7%
Redeemable equity
265
391
101
-32.3%
Short-term borrowings
93.4
42.9
39.5
+117.7%
Debt
3,734
3,260
3,178
+14.6%
Other liabilities
257,310
227,886
237,700
+12.9%
Total liabilities and equity
276,088
243,036
253,941
+13.6%
Fixed assets
968
767
760
+26.1%
Goodwill
1,694
1,100
1,069
+54.0%
Intangible assets
1,787
1,315
1,315
+35.9%
Securities held for sale or to maturity
70,106
60,108
59,388
+16.6%
Cash and equivalents
2,516
2,978
2,471
-15.5%
Other assets
199,018
176,768
188,939
+12.6%
Total assets
276,088
243,036
253,941
+13.6%
10-K for the year ended 31 December 2019, filed 14 February 2020: the filing.