Principal Financial Group (PFG) FY2024 results: revenue $16.1 billion, up 18.0% on the year
Principal Financial Group Inc. (PFG) reported revenue of $16.1 billion for fiscal 2024, the year ended 31 December 2024, up 18.0% on the year before. Net income was $1.6 billion, up 152.1%, and diluted earnings per share $6.68. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2025.
Revenue
$16.1 billion
+18.0% on the year
FY2017FY2024
Operating margin
11.7%
5.4% a year earlier
FY2017FY2024
Net income
$1.6 billion
+152.1% on the year
FY2017FY2024
Diluted EPS
$6.68
+162.0% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
4,603
3,792
3,173
+21.4%
Cash from investing
-5,399
-1,347
1,058
Cash from financing
300
-2,586
-1,715
Depreciation and amortisation
256
203
230
+26.3%
Share-based compensation
109
99.4
91.3
+9.4%
Buybacks
1,042
740
1,661
+40.8%
Dividends paid
658
626
642
+5.3%
Dividend per share
$2.85
$2.60
$2.56
+9.6%
Diluted shares, weighted
235m
245m
255m
-3.8%
Shares outstanding at period end
226m
236m
244m
-4.3%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
11,086
10,916
9,977
+1.6%
Non-controlling interest
44.9
45.7
41.1
-1.8%
Redeemable equity
338
249
262
+35.7%
Short-term borrowings
153
61.1
80.7
+149.9%
Debt
3,955
3,931
3,997
+0.6%
Other liabilities
298,087
289,844
276,510
+2.8%
Total liabilities and equity
313,664
305,047
290,867
+2.8%
Goodwill
1,550
1,608
1,598
-3.7%
Intangible assets
1,390
1,470
1,533
-5.4%
Securities held for sale or to maturity
68,251
65,673
62,890
+3.9%
Cash and equivalents
4,212
4,708
4,848
-10.5%
Other assets
238,261
231,588
219,998
+2.9%
Total assets
313,664
305,047
290,867
+2.8%
10-K for the year ended 31 December 2024, filed 19 February 2025: the filing.