Principal Financial Group (PFG) FY2020 results: revenue $14.7 billion, down 9.1% on the year
Principal Financial Group Inc. (PFG) reported revenue of $14.7 billion for fiscal 2020, the year ended 31 December 2020, down 9.1% on the year before. Net income was $1.4 billion, up 0.1%, and diluted earnings per share $5.05. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2021.
Revenue
$14.7 billion
-9.1% on the year
FY2013FY2020
Operating margin
11.5%
10.4% a year earlier
FY2013FY2020
Net income
$1.4 billion
+0.1% on the year
FY2013FY2020
Diluted EPS
$5.05
+1.8% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
14,742
16,222
14,237
-9.1%
Operating income
1,694
1,693
1,784
+0.0%
Operating margin
11.5%
10.4%
12.5%
Income tax
265
249
231
+6.3%
Net income
1,396
1,394
1,546
+0.1%
Net margin
9.5%
8.6%
10.9%
Diluted EPS
$5.05
$4.96
$5.36
+1.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
3,709
5,493
5,156
-32.5%
Cash from investing
-4,996
-7,688
-5,702
Cash from financing
1,621
1,734
1,053
-6.5%
Depreciation and amortisation
187
167
151
+11.9%
Share-based compensation
87.2
82.6
77.4
+5.6%
Buybacks
307
281
672
+9.3%
Dividends paid
614
606
599
+1.4%
Diluted shares, weighted
277m
281m
289m
-1.6%
Shares outstanding at period end
273m
277m
280m
-1.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
16,559
14,618
11,390
+13.3%
Non-controlling interest
58.4
67.8
66.0
-13.9%
Redeemable equity
256
265
391
-3.5%
Short-term borrowings
84.7
93.4
42.9
-9.3%
Debt
4,279
3,734
3,260
+14.6%
Other liabilities
275,391
257,310
227,886
+7.0%
Total liabilities and equity
296,628
276,088
243,036
+7.4%
Fixed assets
n/a
968
767
Goodwill
1,711
1,694
1,100
+1.0%
Intangible assets
1,723
1,787
1,315
-3.6%
Securities held for sale or to maturity
78,710
70,106
60,108
+12.3%
Cash and equivalents
2,850
2,516
2,978
+13.3%
Other assets
211,634
199,018
176,768
+6.3%
Total assets
296,628
276,088
243,036
+7.4%
10-K for the year ended 31 December 2020, filed 12 February 2021: the filing.