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Side-by-side financial comparison of Principal Financial Group (PFG) and Tapestry, Inc. (TPR). Click either name above to swap in a different company.
Principal Financial Group is the larger business by last-quarter revenue ($4.6B vs $2.5B, roughly 1.8× Tapestry, Inc.). Tapestry, Inc. runs the higher net margin — 22.4% vs 11.3%, a 11.1% gap on every dollar of revenue. On growth, Tapestry, Inc. posted the faster year-over-year revenue change (14.0% vs -3.7%). Over the past eight quarters, Tapestry, Inc.'s revenue compounded faster (29.9% CAGR vs 6.3%).
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.
Tapestry, Inc. is a leading American multinational luxury fashion holding company. It owns three iconic lifestyle brands: Coach, Kate Spade New York, and Stuart Weitzman, offering premium handbags, apparel, footwear, accessories, and fragrances to global consumers via physical retail stores and e-commerce platforms.
PFG vs TPR — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.6B | $2.5B |
| Net Profit | $517.0M | $561.3M |
| Gross Margin | — | 75.5% |
| Operating Margin | — | 28.6% |
| Net Margin | 11.3% | 22.4% |
| Revenue YoY | -3.7% | 14.0% |
| Net Profit YoY | -42.9% | 80.8% |
| EPS (diluted) | $2.30 | $2.68 |
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.
| Q4 25 | $4.6B | $2.5B | ||
| Q3 25 | $3.7B | $1.7B | ||
| Q2 25 | $3.7B | $1.7B | ||
| Q1 25 | $3.7B | $1.6B | ||
| Q4 24 | $4.8B | $2.2B | ||
| Q3 24 | $3.0B | $1.5B | ||
| Q2 24 | $4.3B | $1.6B | ||
| Q1 24 | $4.1B | $1.5B |
| Q4 25 | $517.0M | $561.3M | ||
| Q3 25 | $213.8M | $274.8M | ||
| Q2 25 | $406.2M | $-517.1M | ||
| Q1 25 | $48.1M | $203.3M | ||
| Q4 24 | $905.4M | $310.4M | ||
| Q3 24 | $-220.0M | $186.6M | ||
| Q2 24 | $353.1M | $159.3M | ||
| Q1 24 | $532.5M | $139.4M |
| Q4 25 | — | 75.5% | ||
| Q3 25 | — | 76.3% | ||
| Q2 25 | — | 76.3% | ||
| Q1 25 | — | 76.1% | ||
| Q4 24 | — | 74.4% | ||
| Q3 24 | — | 75.3% | ||
| Q2 24 | — | 74.9% | ||
| Q1 24 | — | 74.7% |
| Q4 25 | — | 28.6% | ||
| Q3 25 | — | 19.3% | ||
| Q2 25 | — | -33.9% | ||
| Q1 25 | — | 16.0% | ||
| Q4 24 | — | 22.4% | ||
| Q3 24 | — | 16.7% | ||
| Q2 24 | — | 14.8% | ||
| Q1 24 | — | 13.8% |
| Q4 25 | 11.3% | 22.4% | ||
| Q3 25 | 5.8% | 16.1% | ||
| Q2 25 | 11.1% | -30.0% | ||
| Q1 25 | 1.3% | 12.8% | ||
| Q4 24 | 19.1% | 14.1% | ||
| Q3 24 | -7.3% | 12.4% | ||
| Q2 24 | 8.2% | 10.0% | ||
| Q1 24 | 13.1% | 9.4% |
| Q4 25 | $2.30 | $2.68 | ||
| Q3 25 | $0.95 | $1.28 | ||
| Q2 25 | $1.79 | $-2.30 | ||
| Q1 25 | $0.21 | $0.95 | ||
| Q4 24 | $3.92 | $1.38 | ||
| Q3 24 | $-0.95 | $0.79 | ||
| Q2 24 | $1.49 | $0.67 | ||
| Q1 24 | $2.22 | $0.60 |
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 | $1.1B |
| Total DebtLower is stronger | $3.9B | $2.4B |
| Stockholders' EquityBook value | $11.9B | $551.2M |
| Total Assets | $341.4B | $6.5B |
| Debt / EquityLower = less leverage | 0.33× | 4.32× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.4B | $1.1B | ||
| Q3 25 | $5.1B | $743.2M | ||
| Q2 25 | $3.7B | $1.1B | ||
| Q1 25 | $3.9B | $1.1B | ||
| Q4 24 | $4.2B | $1.0B | ||
| Q3 24 | $6.2B | $7.3B | ||
| Q2 24 | $4.8B | $7.2B | ||
| Q1 24 | $4.2B | $7.4B |
| Q4 25 | $3.9B | $2.4B | ||
| Q3 25 | $3.9B | $2.4B | ||
| Q2 25 | $3.9B | $2.4B | ||
| Q1 25 | $4.3B | $2.4B | ||
| Q4 24 | $4.0B | $2.4B | ||
| Q3 24 | $3.9B | $7.0B | ||
| Q2 24 | $3.9B | $6.9B | ||
| Q1 24 | $3.9B | $7.7B |
| Q4 25 | $11.9B | $551.2M | ||
| Q3 25 | $11.7B | $399.5M | ||
| Q2 25 | $11.4B | $857.8M | ||
| Q1 25 | $11.2B | $1.5B | ||
| Q4 24 | $11.1B | $1.3B | ||
| Q3 24 | $11.2B | $3.0B | ||
| Q2 24 | $11.0B | $2.9B | ||
| Q1 24 | $11.2B | $2.8B |
| Q4 25 | $341.4B | $6.5B | ||
| Q3 25 | $334.5B | $6.4B | ||
| Q2 25 | $323.1B | $6.6B | ||
| Q1 25 | $313.0B | $7.3B | ||
| Q4 24 | $313.7B | $7.3B | ||
| Q3 24 | $322.9B | $13.7B | ||
| Q2 24 | $308.8B | $13.4B | ||
| Q1 24 | $308.7B | $13.7B |
| Q4 25 | 0.33× | 4.32× | ||
| Q3 25 | 0.34× | 5.95× | ||
| Q2 25 | 0.34× | 2.77× | ||
| Q1 25 | 0.39× | 1.59× | ||
| Q4 24 | 0.36× | 1.78× | ||
| Q3 24 | 0.35× | 2.35× | ||
| Q2 24 | 0.36× | 2.39× | ||
| Q1 24 | 0.35× | 2.77× |
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 | $1.1B |
| Free Cash FlowOCF − Capex | — | $1.0B |
| FCF MarginFCF / Revenue | — | 41.5% |
| Capex IntensityCapex / Revenue | — | 1.7% |
| Cash ConversionOCF / Net Profit | 3.37× | 1.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $1.1B | ||
| Q3 25 | $1.0B | $112.6M | ||
| Q2 25 | $811.9M | $446.8M | ||
| Q1 25 | $977.3M | $144.3M | ||
| Q4 24 | $1.5B | $506.0M | ||
| Q3 24 | $1.1B | $119.5M | ||
| Q2 24 | $1.4B | $256.0M | ||
| Q1 24 | $584.2M | $97.8M |
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $80.2M | ||
| Q2 25 | — | $411.5M | ||
| Q1 25 | — | $113.4M | ||
| Q4 24 | — | $475.1M | ||
| Q3 24 | — | $93.9M | ||
| Q2 24 | — | $209.8M | ||
| Q1 24 | — | $78.8M |
| Q4 25 | — | 41.5% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 23.9% | ||
| Q1 25 | — | 7.2% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | — | 6.2% | ||
| Q2 24 | — | 13.2% | ||
| Q1 24 | — | 5.3% |
| Q4 25 | — | 1.7% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | 2.9% | ||
| Q1 24 | — | 1.3% |
| Q4 25 | 3.37× | 1.93× | ||
| Q3 25 | 4.70× | 0.41× | ||
| Q2 25 | 2.00× | — | ||
| Q1 25 | 20.32× | 0.71× | ||
| Q4 24 | 1.61× | 1.63× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | 4.05× | 1.61× | ||
| Q1 24 | 1.10× | 0.70× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
TPR
| Coach | $1.4B | 57% |
| Other | $787.0M | 31% |
| Kate Spade Company | $290.0M | 12% |
