Principal Financial GroupPFGEarnings & Financial Report
Principal Financial Group, Inc. (PFG) is an American global financial investment management and insurance company headquartered in Des Moines, Iowa, United States.
Revenue
$3.7B
Gross Profit
N/A
Operating Profit
N/A
Net Profit
$406.2M
Gross Margin
N/A
Operating Margin
N/A
Net Margin
11.1%
YoY Growth
-14.8%
EPS
$1.79
Principal Financial Group Q2 FY2025 Financial Summary
Principal Financial Group reported revenue of $3.7B (down 14.8% YoY) for Q2 FY2025, with a net profit of $406.2M (up 15.0% YoY) (11.1% margin).
Key Financial Metrics
| Total Revenue | $3.7B |
|---|---|
| Net Profit | $406.2M |
| Gross Margin | N/A |
| Operating Margin | N/A |
| Report Period | Q2 FY2025 |
Revenue Breakdown
Principal Financial Group Q2 FY2025 revenue of $3.7B breaks down across 15 segments, led by Segment Benefits And Protection at $1.1B (29.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Segment Benefits And Protection | $1.1B | 29.0% |
| Segment Retirement And Income Solutions | $888.8M | 24.2% |
| Segment Principal Asset Management | $460.8M | 12.6% |
| Subsegment Investment Management | $433.1M | 11.8% |
| Other | $423.0M | 11.5% |
| Administrative Service | $143.6M | 3.9% |
| Subsegment International Pension | $91.4M | 2.5% |
| Segment Corporate | $62.7M | 1.7% |
| Commercial Real Estate Portfolio Segment | $40.3M | 1.1% |
| Financial Service Other | $25.1M | 0.7% |
| Subsegment Life Insurance | $22.7M | 0.6% |
| Residential Mortgage | $5.9M | 0.2% |
| Subsegment Specialty Benefits | $4.0M | 0.1% |
| Deposit Account | $3.2M | 0.1% |
| Commission Income | $1.4M | 0.0% |
Principal Financial Group Revenue by Segment — Quarterly Trend
Principal Financial Group revenue by segment across the last 4 reported quarters, showing how each business line (such as Segment Benefits And Protection and Segment Retirement And Income Solutions) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Segment Benefits And Protection | $1.1B | $1.1B | $1.1B | $1.1B |
| Segment Retirement And Income Solutions | $1.6B | $1.0B | $888.8M | $1.3B |
| Segment Principal Asset Management | $465.6M | $471.8M | $460.8M | $450.0M |
| Subsegment Investment Management | $449.4M | $448.6M | $433.1M | $426.7M |
| Other | $582.8M | $266.0M | $423.0M | $178.3M |
Principal Financial Group Annual Revenue by Year
Principal Financial Group annual revenue history includes year-by-year totals (for example, 2025 revenue was $15.6B).
| Year | Annual Revenue |
|---|---|
| 2025 | $15.6B |
| 2024 | $16.1B |
| 2023 | $13.7B |
| 2022 | $17.5B |
Principal Financial Group Quarterly Revenue & Net Profit History
Principal Financial Group results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $4.6B | -3.7% | $517.0M | 11.3% |
| Q3 FY2025 | $3.7B | +22.2% | $213.8M | 5.8% |
| Q2 FY2025 | $3.7B | -14.8% | $406.2M | 11.1% |
| Q1 FY2025 | $3.7B | -8.8% | $48.1M | 1.3% |
| Q4 FY2024 | $4.8B | +76.6% | $905.4M | 19.1% |
| Q3 FY2024 | $3.0B | -34.5% | $-220.0M | -7.3% |
| Q2 FY2024 | $4.3B | +21.2% | $353.1M | 8.2% |
| Q1 FY2024 | $4.1B | +43.8% | $532.5M | 13.1% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.05B | $4.31B | $3.01B | $4.75B | $3.70B | $3.67B | $3.68B | $4.58B |
| YoY Growth | 43.8% | 21.2% | -34.5% | 76.6% | -8.8% | -14.8% | 22.2% | -3.7% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $308.68B | $308.78B | $322.86B | $313.66B | $313.00B | $323.10B | $334.49B | $341.38B |
| Liabilities | $297.08B | $297.44B | $311.26B | $302.19B | $301.41B | $311.25B | $322.36B | $328.99B |
| Equity | $11.19B | $11.01B | $11.24B | $11.09B | $11.22B | $11.42B | $11.67B | $11.88B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $584.2M | $1.43B | $1.13B | $1.46B | $977.3M | $811.9M | $1.00B | $1.74B |