Principal Financial Group Past Earnings Performance
Past criteria checks 4/6
Principal Financial Group's earnings have been declining at an average annual rate of -18.9%, while the Insurance industry saw earnings growing at 14.7% annually. Revenues have been growing at an average rate of 0.5% per year. Principal Financial Group's return on equity is 12.4%, and it has net margins of 9.9%.
Key information
-18.91%
Earnings growth rate
-14.99%
EPS growth rate
| Insurance Industry Growth | 8.02% |
| Revenue growth rate | 0.53% |
| Return on equity | 12.43% |
| Net Margin | 9.93% |
| Last Earnings Update | 30 Jun 2026 |
Recent past performance updates
Recent updates
Narrative Update • Sep 10
PFG: Slowing Operating Income Growth Will Restrain Upside Despite Samsung Stake Interest
Analysts have nudged the fair value estimate for Principal Financial Group higher to about $94 from $91, reflecting a series of upward price target revisions on the stock that reference stronger margins, solid cash flow generation potential, and interest around a possible 15% equity stake purchase by Samsung Life. Analyst Commentary Recent Street research on Principal Financial Group points to a mixed setup for investors.Seeking Alpha • Aug 26
Principal Financial's Equity Sensitivity Supports The Rally
Summary Principal Financial Group has delivered a 40% gain over the past year, benefiting from equity market strength and higher interest rates. PFG's earnings are closely tied to AUM and equity markets, with Q2 EPS up 17% and operating margins improving to 32%. Despite strong results, ongoing equity outflows and full valuation prompt a "Hold" rating, with fair value estimated at $108-$110. PFG maintains robust capital returns, a 3% dividend yield, and prudent balance sheet management, but further upside appears limited near current prices. Read the full article on Seeking Alpha
Narrative Update • Aug 19
PFG: Future Capital Returns And Earnings Resilience Will Support Balanced Upside Potential
Analysts nudged the fair value estimate for Principal Financial Group higher to about $109.58 from roughly $107.33, citing updated revenue and valuation assumptions in recent price target revisions across the Street. Analyst Commentary Recent Street research on Principal Financial Group shows a mix of optimism and caution, with several firms lifting price targets while keeping a wide spread of ratings from Underperform to Overweight.Narrative Update • Aug 04
PFG: Earnings Momentum And Capital Returns Will Support Measured Margin Expansion
Analysts have nudged the fair value estimate for Principal Financial Group higher to about $107.33 from $101.50, citing a series of raised price targets that reflect firmer profit margin assumptions, modestly lower revenue growth expectations, and slightly reduced future P/E multiples across recent research updates. Analyst Commentary Recent research on Principal Financial Group shows a mix of optimism and caution around growth, margins, and valuation.
Narrative Update • Jul 21
PFG: Capital Returns And Beam Benefits Deal Will Support Measured Repricing
Principal Financial Group's analyst-derived fair value estimate has moved up from $113.00 to $125.00. This reflects higher Street price targets tied to revised long term earnings and cash flow assumptions, slightly higher target P/E multiples, and a still-supportive view of life insurers from several firms despite mixed rating actions.Narrative Update • Jul 07
PFG: Slowing Operating Income And Falling Yield Will Limit Future Upside
Analysts have raised the fair value estimate for Principal Financial Group's stock to $91 from $87. This change reflects updated assumptions for slightly higher revenue growth, modestly stronger profit margins, and a somewhat richer future P/E multiple supported by a series of recent price target increases across the Street.Narrative Update • Jun 23
PFG: Earnings Momentum And Capital Returns Will Support Future Margin Resilience
Analysts have lifted the fair value estimate for Principal Financial Group to $101.50 from $93.83, pointing to updated price targets in the $107 to $111 range and citing Q1 earnings momentum, diversified business lines, and expectations for steady revenue and margins. Analyst Commentary Recent Street research on Principal Financial Group gives you a mix of optimism and caution, with several price target moves clustering in the low US$100s and a shift in ratings that focuses on execution, earnings quality, and how much of the story is already reflected in the stock price.Analysis Article • Jun 17
Principal Financial Group (PFG) Stock Could Be 19% Overvalued After New ETF Launch
Principal Financial Group (PFG) is drawing fresh attention after Principal Asset Management introduced Principal Fit, a suite of four fixed income ETFs designed to give investors more targeted bond market exposure. See our latest analysis for Principal Financial Group. Against this product launch backdrop, Principal Financial Group’s share price has climbed to $111.17, with a 30 day share price return of 10.58% and a 1 year total shareholder return of 52.05%. This points to strengthening...Narrative Update • Jun 08
PFG: Capital Returns And EPS Resilience Will Support Measured Repricing
Analysts have raised the implied fair value for Principal Financial Group to $113 from $106. The change reflects updated assumptions on revenue, profit margin and future P/E following a series of price target increases across the Street, grounded in the company’s reported Q1 results and ongoing business momentum.Narrative Update • May 25
PFG: Sector Concerns Over Private Credit Exposure Will Restrain Future Upside
Analysts have lifted their consolidated price target range for Principal Financial Group into the low $100s, citing strong recent Q1 results, continued earnings momentum into 2026, and steady revenue contribution from international and retirement-related businesses. Analyst Commentary Recent research on Principal Financial Group has highlighted a mix of optimism around earnings momentum and a more measured tone on how that translates into future returns for shareholders.Narrative Update • May 03
PFG: Sector Valuation Pressure And Muted Ratings Will Restrain Future Upside
Analysts have lifted the fair value estimate for Principal Financial Group by $4 to $87, reflecting updated price targets and research that point to higher modeled revenue growth, a slightly different profit margin outlook, and a similar future P/E assumption. Analyst Commentary Recent research updates on Principal Financial Group show a mix of support and caution, with several firms adjusting price targets and ratings around a relatively tight range.Narrative Update • Apr 19
PFG: Capital Returns And Balanced P/E Assumptions Will Shape Future Margin Resilience
Analysts trimmed the average price target for Principal Financial Group by about $1 to reflect slightly lower fair value estimates, even as they update their views on growth, profitability and P/E assumptions after a mix of recent target hikes and reductions across the Street. Analyst Commentary Recent research on Principal Financial Group reflects a mix of optimism and caution, with several firms updating ratings and price targets as they reassess fair value, P/E assumptions and how sectorwide pressures could affect insurance valuations.Narrative Update • Apr 04
PFG: Capital Strength And Buybacks Will Support Higher Sector Pricing
Analysts have made modest upward adjustments to Principal Financial Group's price targets, with several moving into the $85 to $95 range. They cite updated views on revenue growth, profitability, and sector valuation for life and annuity insurers.Narrative Update • Mar 20
PFG: Capital Strength And Cash Returns Will Support Future Margin Resilience
Analysts have inched their fair value estimate for Principal Financial Group higher, with the price target moving by about $1 to $95 as they factor in modestly lower assumed revenue growth, improved profit margin expectations, and a slightly lower future P/E multiple across recent research updates. Analyst Commentary Recent research activity around Principal Financial Group has centered on a cluster of price target updates and rating changes, giving you a clearer sense of how the Street is thinking about valuation, execution, and growth risk.Narrative Update • Mar 06
PFG: Rising Loss Costs And Pricing Pressures Will Cap Future Upside
Analysts have raised their price expectations for Principal Financial Group. Our fair value estimate has increased from $67.00 to $83.00 as they consider higher Street price targets in the $85 to $95 range and updated assumptions related to growth, margins, and valuation multiples.Narrative Update • Feb 20
PFG: Capital Strength And Cash Returns Will Balance Margin And Pricing Risks
Analysts lifted their average price target for Principal Financial Group by $1 to $93.91, citing updated assumptions around modestly higher revenue growth, a slightly higher discount rate, and a small adjustment to future P/E and profit margin expectations. Analyst Commentary Recent research on Principal Financial Group reflects a mix of cautious optimism and ongoing concerns, with several firms fine tuning their price targets while largely maintaining neutral or underweight ratings.Analysis Article • Feb 13
Principal Financial Group (NASDAQ:PFG) Will Pay A Larger Dividend Than Last Year At $0.80
Principal Financial Group, Inc. ( NASDAQ:PFG ) will increase its dividend from last year's comparable payment on the...Narrative Update • Feb 06
PFG: Capital Strength And Cash Flow Will Balance Sector Pricing Risks
Analysts have modestly adjusted their outlook on Principal Financial Group, with recent Street price targets moving in a tight range around the mid to high US$80s as they weigh capital strength, cash flow, and life insurance earnings against concerns around pricing trends and loss costs in parts of the insurance sector. Analyst Commentary Recent research updates show a cluster of price targets for Principal Financial in the US$85 to US$92 range, with several bullish analysts nudging their expectations higher while keeping a generally cautious stance on the insurance sector.Narrative Update • Jan 23
PFG: Capital Strength And Cash Returns Will Support Steady Future Performance
Analysts have nudged their price targets on Principal Financial higher, with recent moves such as US$74 to US$85, US$88 to US$92, and US$83 to US$87, reflecting updated views on capital strength, earnings quality, and sector wide pricing and margin trends. Analyst Commentary Recent research updates on Principal Financial Group show a mix of cautious and constructive views, with several firms adjusting price targets while keeping a close eye on sector specific trends in life and property and casualty insurance.Narrative Update • Jan 09
PFG: Capital Strength And Calm Catastrophe Trends Will Support Future Upside
Narrative update on Principal Financial Group We have lifted our fair value estimate for Principal Financial Group to $106 from $103, reflecting analysts' higher price targets, slightly adjusted cash flow and discount rate assumptions, and updated views on margins and future P/E levels across the life and P&C insurance space. Analyst Commentary Recent Street research on Principal Financial Group has centered on modestly higher valuation ranges, cautious views on insurance pricing, and rebalanced expectations for the core business.Narrative Update • Dec 17
PFG: Strong Claims Experience Will Support Earnings Durability And Upside Potential
Analysts have nudged their price target on Principal Financial Group modestly higher, reflecting a roughly $2 increase in estimated fair value to about $103 as they factor in stronger life insurance earnings, resilient claims experience, and easing downside risks across the core business. Analyst Commentary Bullish analysts have become incrementally more constructive on Principal Financial Group in recent months, with a series of upward price target revisions and an upgrade in rating that collectively signal improving confidence in the company’s earnings trajectory and risk profile.Narrative Update • Dec 03
PFG: Normalizing Investment Income And Calmer Claims Will Support Steady Future Performance
Analysts modestly raised their price target on Principal Financial Group to a range of approximately $87 to $94 per share, reflecting updated insurance sector models, calmer than expected catastrophe activity, as well as improving visibility into earnings and downside risks. Analyst Commentary Analysts are broadly constructive on Principal Financial Group, but remain divided on how much upside is left after the recent rerating in the sector and the stock's multiple compression over the past year.Narrative Update • Nov 19
PFG: Eased Downside Risks And Normalizing Trends Will Support Measured Performance
Analysts have modestly increased their price target for Principal Financial Group to approximately $89.08 per share, citing steady improvements in earnings visibility and favorable industry trends. Analyst Commentary Recent analyst updates for Principal Financial Group highlight a mix of optimism and lingering caution as price targets have inched higher.Narrative Update • Nov 05
PFG: Eased Downside Risks And Stable Sector Will Support Performance Going Forward
Principal Financial Group's analyst price target has increased modestly from $87.83 to $88.75. Analysts cite eased downside risks and stable sector performance as reasons for the upward revision.Analysis Article • Oct 30
Principal Financial Group, Inc. Just Missed EPS By 57%: Here's What Analysts Think Will Happen Next
The analysts might have been a bit too bullish on Principal Financial Group, Inc. ( NASDAQ:PFG ), given that the...Narrative Update • Oct 22
Analyst Commentary Drives Modest Price Target Increases for Principal Financial Group Amid Stable Outlook
Analysts have modestly increased their price target for Principal Financial Group by approximately $0.67. The new target reflects updated expectations for improved revenue growth, profit margins, and a stable macro environment supporting future earnings.Narrative Update • Oct 08
Retirement And Global Asset Management Expansion Will Secure Future Strength
Analysts have raised their price target for Principal Financial Group to approximately $87.17 from $86. This modest increase reflects improving variable investment income, strong distribution, and sustained fee tailwinds despite ongoing flow challenges.Seeking Alpha • Mar 05
Principal Financial: Capital Returns Appear Priced In
Summary Principal Financial Group's stock has surged 20%, outperforming the market, driven by better earnings and strong capital returns. Q4 earnings beat expectations, with a 16% increase, though private investment returns remain subdued due to high rates impacting real estate valuations. Investment Management and Benefits and Protection units show strong performance, with disciplined cost controls and solid underwriting results supporting margins. Capital returns are solid, with a $1.4-$1.7 billion target for 2025, but current stock valuation suggests limited upside, justifying a "hold" rating. Read the full article on Seeking AlphaSeeking Alpha • Nov 15
Principal Financial Upgraded As Growth Indicators And 3% Yield Looks Positive
Summary Principal Financial gets upgraded to a buy, as it shows growth indicators that could drive its insurance premiums and fees revenue, along with positive EPS guidance. Its 3% dividend yield is competitive among its peer group. With strong credit ratings from major agencies, and a low debt-to-equity, the firm has a lower risk profile. The huge and growing annuities market presents a lot of potential. Key risks include competition from sector peers like Prudential, as well as the risk of cyberattacks on financial firms targeting client data. Read the full article on Seeking AlphaRevenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Principal Financial Group makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 30 Jun 26 | 15,693 | 1,559 | 5,528 | 0 |
| 31 Mar 26 | 15,459 | 1,562 | 5,423 | 0 |
| 31 Dec 25 | 15,626 | 1,185 | 5,434 | 0 |
| 30 Sep 25 | 15,801 | 1,574 | 5,425 | 0 |
| 30 Jun 25 | 15,131 | 1,140 | 5,386 | 0 |
| 31 Mar 25 | 15,770 | 1,087 | 5,412 | 0 |
| 31 Dec 24 | 16,128 | 1,571 | 5,364 | 0 |
| 30 Sep 24 | 14,067 | -206 | 5,290 | 0 |
| 30 Jun 24 | 15,654 | 1,260 | 5,241 | 0 |
| 31 Mar 24 | 14,900 | 1,296 | 5,173 | 0 |
| 31 Dec 23 | 13,666 | 623 | 5,072 | 0 |
| 30 Sep 23 | 14,126 | 1,479 | 5,016 | 0 |
| 30 Jun 23 | 14,152 | 1,548 | 4,941 | 0 |
| 31 Mar 23 | 17,260 | 4,278 | 5,024 | 0 |
| 31 Dec 22 | 17,536 | 4,757 | 4,962 | 0 |
| 30 Sep 22 | 18,476 | 5,245 | 5,052 | 0 |
| 30 Jun 22 | 17,275 | 4,289 | 5,037 | 0 |
| 31 Mar 22 | 14,150 | 1,534 | 4,967 | 0 |
| 31 Dec 21 | 14,428 | 1,580 | 5,070 | 0 |
| 30 Sep 21 | 13,937 | 1,711 | 4,825 | 0 |
| 30 Jun 21 | 13,824 | 1,588 | 4,795 | 0 |
| 31 Mar 21 | 13,399 | 1,622 | 4,513 | 0 |
| 31 Dec 20 | 14,742 | 1,396 | 4,647 | 0 |
| 30 Sep 20 | 15,024 | 1,224 | 4,707 | 0 |
| 30 Jun 20 | 16,172 | 1,265 | 4,784 | 0 |
| 31 Mar 20 | 17,030 | 1,253 | 4,847 | 0 |
| 31 Dec 19 | 16,222 | 1,394 | 4,504 | 0 |
| 30 Sep 19 | 15,946 | 1,330 | 4,338 | 0 |
| 30 Jun 19 | 15,835 | 1,509 | 4,201 | 0 |
| 31 Mar 19 | 15,098 | 1,579 | 4,144 | 0 |
| 31 Dec 18 | 14,237 | 1,547 | 4,137 | 0 |
| 30 Sep 18 | 13,704 | 2,152 | 4,288 | 0 |
| 30 Jun 18 | 13,984 | 2,506 | 4,074 | 0 |
| 31 Mar 18 | 13,927 | 2,359 | 3,974 | 0 |
| 31 Dec 17 | 14,093 | 2,310 | 3,894 | 0 |
| 30 Sep 17 | 14,369 | 1,787 | 3,544 | 0 |
| 30 Jun 17 | 12,560 | 1,285 | 3,529 | 0 |
| 31 Mar 17 | 12,407 | 1,297 | 3,524 | 0 |
| 31 Dec 16 | 12,394 | 1,317 | 3,733 | 0 |
| 30 Sep 16 | 11,687 | 1,252 | 3,496 | 0 |
| 30 Jun 16 | 12,110 | 1,244 | 3,491 | 0 |
| 31 Mar 16 | 12,344 | 1,163 | 3,436 | 0 |
| 31 Dec 15 | 11,964 | 1,209 | 3,466 | 0 |
| 30 Sep 15 | 12,065 | 1,226 | 3,620 | 0 |
Quality Earnings: PFG has high quality earnings.
Growing Profit Margin: PFG's current net profit margins (9.9%) are higher than last year (7.5%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: PFG's earnings have declined by 18.9% per year over the past 5 years.
Accelerating Growth: PFG's earnings growth over the past year (36.8%) exceeds its 5-year average (-18.9% per year).
Earnings vs Industry: PFG earnings growth over the past year (36.8%) exceeded the Insurance industry 27.3%.
Return on Equity
High ROE: PFG's Return on Equity (12.4%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/21 23:41 |
| End of Day Share Price | 2026/09/21 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Principal Financial Group, Inc. is covered by 26 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | Argus Research Company |
| Jay Gelb | Barclays |
| "Alex Scott | Barclays |