Principal Financial Group (PFG) FY2022 results: revenue $17.5 billion, up 21.5% on the year
Principal Financial Group Inc. (PFG) reported revenue of $17.5 billion for fiscal 2022, the year ended 31 December 2022, up 21.5% on the year before. Net income was $4.8 billion, up 201.0%, and diluted earnings per share $18.63. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2023.
Revenue
$17.5 billion
+21.5% on the year
FY2015FY2022
Operating margin
34.1%
13.2% a year earlier
FY2015FY2022
Net income
$4.8 billion
+201.0% on the year
FY2015FY2022
Diluted EPS
$18.63
+221.8% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ 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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
3,173
3,254
3,709
-2.5%
Cash from investing
1,058
-5,694
-4,996
Cash from financing
-1,715
1,922
1,621
Depreciation and amortisation
230
208
187
+10.6%
Share-based compensation
91.3
96.1
87.2
-5.0%
Buybacks
1,661
937
307
+77.2%
Dividends paid
642
654
614
-1.8%
Dividend per share
$2.56
n/a
n/a
Diluted shares, weighted
255m
273m
277m
-6.4%
Shares outstanding at period end
244m
262m
273m
-7.0%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
9,977
16,069
16,559
-37.9%
Non-controlling interest
41.1
56.4
58.4
-27.1%
Redeemable equity
262
332
256
-21.2%
Short-term borrowings
80.7
79.8
84.7
+1.1%
Debt
3,997
4,280
4,279
-6.6%
Other liabilities
276,510
283,839
275,391
-2.6%
Total liabilities and equity
290,867
304,657
296,628
-4.5%
Goodwill
1,598
1,628
1,711
-1.8%
Intangible assets
1,533
1,601
1,723
-4.2%
Securities held for sale or to maturity
62,890
78,154
78,710
-19.5%
Cash and equivalents
4,848
2,332
2,850
+107.9%
Other assets
219,998
220,942
211,634
-0.4%
Total assets
290,867
304,657
296,628
-4.5%
10-K for the year ended 31 December 2022, filed 16 February 2023: the filing.