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Side-by-side financial comparison of Incyte (INCY) and Principal Financial Group (PFG). Click either name above to swap in a different company.
Principal Financial Group is the larger business by last-quarter revenue ($4.6B vs $1.3B, roughly 3.6× Incyte). Incyte runs the higher net margin — 23.8% vs 11.3%, a 12.5% gap on every dollar of revenue. On growth, Incyte posted the faster year-over-year revenue change (20.9% vs -3.7%). Over the past eight quarters, Incyte's revenue compounded faster (10.4% CAGR vs 6.3%).
Incyte Corporation is an American multinational pharmaceutical company with headquarters in Wilmington, Delaware. The company currently operates manufacturing and R&D locations in North America, Europe, and Asia.
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.
INCY vs PFG — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $4.6B |
| Net Profit | $303.3M | $517.0M |
| Gross Margin | — | — |
| Operating Margin | 23.7% | — |
| Net Margin | 23.8% | 11.3% |
| Revenue YoY | 20.9% | -3.7% |
| Net Profit YoY | 91.7% | -42.9% |
| EPS (diluted) | $1.47 | $2.30 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.5B | $4.6B | ||
| Q3 25 | $1.4B | $3.7B | ||
| Q2 25 | $1.2B | $3.7B | ||
| Q1 25 | $1.1B | $3.7B | ||
| Q4 24 | $1.2B | $4.8B | ||
| Q3 24 | $1.1B | $3.0B | ||
| Q2 24 | $1.0B | $4.3B |
| Q1 26 | $303.3M | — | ||
| Q4 25 | $299.3M | $517.0M | ||
| Q3 25 | $424.2M | $213.8M | ||
| Q2 25 | $405.0M | $406.2M | ||
| Q1 25 | $158.2M | $48.1M | ||
| Q4 24 | $201.2M | $905.4M | ||
| Q3 24 | $106.5M | $-220.0M | ||
| Q2 24 | $-444.6M | $353.1M |
| Q1 26 | — | — | ||
| Q4 25 | 92.0% | — | ||
| Q3 25 | 92.8% | — | ||
| Q2 25 | 93.5% | — | ||
| Q1 25 | 93.0% | — | ||
| Q4 24 | 92.5% | — | ||
| Q3 24 | 92.4% | — | ||
| Q2 24 | 92.7% | — |
| Q1 26 | 23.7% | — | ||
| Q4 25 | 22.3% | — | ||
| Q3 25 | 32.5% | — | ||
| Q2 25 | 43.6% | — | ||
| Q1 25 | 19.5% | — | ||
| Q4 24 | 25.6% | — | ||
| Q3 24 | 12.8% | — | ||
| Q2 24 | -45.8% | — |
| Q1 26 | 23.8% | — | ||
| Q4 25 | 19.9% | 11.3% | ||
| Q3 25 | 31.1% | 5.8% | ||
| Q2 25 | 33.3% | 11.1% | ||
| Q1 25 | 15.0% | 1.3% | ||
| Q4 24 | 17.1% | 19.1% | ||
| Q3 24 | 9.4% | -7.3% | ||
| Q2 24 | -42.6% | 8.2% |
| Q1 26 | $1.47 | — | ||
| Q4 25 | $1.46 | $2.30 | ||
| Q3 25 | $2.11 | $0.95 | ||
| Q2 25 | $2.04 | $1.79 | ||
| Q1 25 | $0.80 | $0.21 | ||
| Q4 24 | $0.90 | $3.92 | ||
| Q3 24 | $0.54 | $-0.95 | ||
| Q2 24 | $-2.04 | $1.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $4.4B |
| Total DebtLower is stronger | — | $3.9B |
| Stockholders' EquityBook value | $5.6B | $11.9B |
| Total Assets | $7.3B | $341.4B |
| Debt / EquityLower = less leverage | — | 0.33× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $4.4B | ||
| Q3 25 | $2.5B | $5.1B | ||
| Q2 25 | $2.0B | $3.7B | ||
| Q1 25 | $1.9B | $3.9B | ||
| Q4 24 | $1.7B | $4.2B | ||
| Q3 24 | $1.3B | $6.2B | ||
| Q2 24 | $987.3M | $4.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.9B | ||
| Q3 25 | — | $3.9B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $3.9B | ||
| Q2 24 | — | $3.9B |
| Q1 26 | $5.6B | — | ||
| Q4 25 | $5.2B | $11.9B | ||
| Q3 25 | $4.7B | $11.7B | ||
| Q2 25 | $4.2B | $11.4B | ||
| Q1 25 | $3.7B | $11.2B | ||
| Q4 24 | $3.4B | $11.1B | ||
| Q3 24 | $3.2B | $11.2B | ||
| Q2 24 | $3.0B | $11.0B |
| Q1 26 | $7.3B | — | ||
| Q4 25 | $7.0B | $341.4B | ||
| Q3 25 | $6.3B | $334.5B | ||
| Q2 25 | $5.8B | $323.1B | ||
| Q1 25 | $5.7B | $313.0B | ||
| Q4 24 | $5.4B | $313.7B | ||
| Q3 24 | $5.0B | $322.9B | ||
| Q2 24 | $4.7B | $308.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.33× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.39× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.36× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $1.7B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.37× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $543.3M | $1.7B | ||
| Q3 25 | $559.4M | $1.0B | ||
| Q2 25 | $44.7M | $811.9M | ||
| Q1 25 | $266.1M | $977.3M | ||
| Q4 24 | $381.2M | $1.5B | ||
| Q3 24 | $310.9M | $1.1B | ||
| Q2 24 | $-575.6M | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | 1.82× | 3.37× | ||
| Q3 25 | 1.32× | 4.70× | ||
| Q2 25 | 0.11× | 2.00× | ||
| Q1 25 | 1.68× | 20.32× | ||
| Q4 24 | 1.89× | 1.61× | ||
| Q3 24 | 2.92× | — | ||
| Q2 24 | — | 4.05× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INCY
Segment breakdown not available.
PFG
| Segment Retirement And Income Solutions | $1.6B | 36% |
| Segment Benefits And Protection | $1.1B | 23% |
| Other | $582.8M | 13% |
| Segment Principal Asset Management | $465.6M | 10% |
| Subsegment Investment Management | $449.4M | 10% |
| Administrative Service | $152.2M | 3% |
| Subsegment International Pension | $91.2M | 2% |
| Segment Corporate | $73.0M | 2% |
| Subsegment Life Insurance | $26.1M | 1% |
| Financial Service Other | $25.1M | 1% |
| Residential Mortgage | $7.4M | 0% |
| Subsegment Specialty Benefits | $3.7M | 0% |
| Deposit Account | $3.4M | 0% |
| Commission Income | $1.8M | 0% |
