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Primerica (PRI) FY2024 results: revenue $3.1 billion, up 12.4% on the year

Primerica, Inc. (PRI) reported revenue of $3.1 billion for fiscal 2024, the year ended 31 December 2024, up 12.4% on the year before. Net income was $471 million, down 18.4%, and diluted earnings per share $13.71. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2025.

Revenue
$3.1 billion
+12.4% on the year
FY2017FY2024
Operating margin
30.4%
28.1% a year earlier
FY2017FY2024
Net income
$471 million
-18.4% on the year
FY2017FY2024
Diluted EPS
$13.71
-14.0% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue3,0892,7492,657+12.4%
Cost of revenuen/a55.268.4
Operating income939772719+21.7%
Operating margin30.4%28.1%27.0%
Interest expensen/a26.627.2
Pre-tax income939772719+21.7%
Income tax219181164+21.4%
Effective tax rate23.3%23.4%22.8%
Net income471577472-18.4%
Net margin15.2%21.0%17.8%
Diluted EPS$13.71$15.94$12.33-14.0%
$ 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

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow862693758+24.5%
Cash from investing-232-90.1-200
Cash from financing-551-480-458
Depreciation and amortisation23.432.034.2-26.8%
Share-based compensation25.118.922.4+32.6%
Buybacks425375356+13.3%
Dividends paid11393.783.8+20.4%
Dividend per share$3.30$2.60$2.20+26.9%
Diluted shares, weighted34m36m38m-5.1%
Shares outstanding at period end33m35m37m-4.7%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity2,2592,0662,031+9.3%
Debt595594593+0.1%
Other liabilities11,72812,36812,017-5.2%
Total liabilities and equity14,58215,02814,641-3.0%
Fixed assets40.737.652.7+8.2%
Goodwilln/a128128
Intangible assets45.345.31860.0%
Securities held for sale or to maturity4,2504,1063,940+3.5%
Cash and equivalents688594489+15.8%
Other assets9,55810,1179,846-5.5%
Total assets14,58215,02814,641-3.0%

10-K for the year ended 31 December 2024, filed 28 February 2025: the filing.