Share count shrinking. Shares outstanding down 12% from December 2022 to July 2026.
Principal Financial had 12% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Cash flow well above reported profit. Free cash flow is 3.0× reported profit.
Free cash flow is 3.0× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.
StockQuotient Score
54/ 100▼ 1 since Oct 27 closeOct 5 53 → Nov 4 54 (+1)
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about Principal Financial
Is Principal Financial getting weaker?
Its latest SEC filing (Jul 29, 2026) showed no major changes. Its overall score is 54/100, down 1 since Oct 28, 2026.
How is Principal Financial valued vs its peers?
Priced lower than most peers relative to what it earns. Valuation scores 65/100 against 432 financial services peers.Free cash flow yield 20.1% vs a peer median of 6.1% (stronger than 79% of peers).Free cash flow yield 20.1% vs peers 6.1% (stronger than 79% of peers).
Is Principal Financial growing?
At about the same pace as its peers. Growth scores 51/100 against 432 financial services peers.Earnings per share growth 45.3% vs a peer median of 10.0% (stronger than 77% of peers).Earnings per share growth 45.3% vs peers 10.0% (stronger than 77% of peers).3-year revenue growth 3.5% vs a peer median of 10.0% (weaker than 70% of peers).3-year revenue growth 3.5% vs peers 10.0% (weaker than 70% of peers).
How profitable is Principal Financial?
About as profitable as its peers. Profitability scores 55/100 against 432 financial services peers.Return on invested capital 14.9% vs a peer median of 6.3% (stronger than 76% of peers).Return on invested capital 14.9% vs peers 6.3% (stronger than 76% of peers).Return on assets 0.5% vs a peer median of 2.6% (weaker than 79% of peers).Return on assets 0.5% vs peers 2.6% (weaker than 79% of peers).
How risky is Principal Financial?
Moderate risk relative to 432 financial services peers, judged on debt, liquidity and share-price swings.Debt / equity 0.36× vs a peer median of 0.57× (stronger than 62% of peers).Debt / equity 0.36× vs peers 0.57× (stronger than 62% of peers).Beta 0.87 vs a peer median of 0.70 (weaker than 63% of peers).Beta 0.87 vs peers 0.70 (weaker than 63% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Jul 29, 2026 · compared with the quarter ended Mar 31, 2026
No major changes
Previous quarter
Latest quarter
Change
Revenue (12 months)
15.5B USD
15.7B USD
+1.5%
Net income (12 months)
1.6B USD
1.6B USD
−0.2%
Debt
3.9B USD
4.3B USD
+10.0%
Cash
4.1B USD
5.3B USD
+29.7%
Shares outstanding
216.0M
214.1M
−0.9%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Industry: Asset Management · 43 companies
Valuations in Asset Management are near the top of their range since 2016.
95% of months since 2016 were valued lower than now.
37% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +10% and earnings +13% (medians): prices and earnings moved broadly together.
Median price-to-sales is +31% vs the whole market, against a usual +6%.
2016Shaded: most expensive fifth of its range2026
Principal Financial looks cheaper than most of its peers on our valuation measures, while the Asset Management industry as a whole is valued high by its own standards since 2016. Both can be true at once.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Net margin
11.0%
27.1%
4.6%
9.7%
7.6%
▼ 2.2 pts
Return on assets (ROA)
0.5%
1.6%
0.2%
0.5%
0.3%
▼ 0.2 pts
Return on equity (ROE)
9.8%
47.7%
5.7%
14.2%
10.0%
▼ 4.2 pts
Debt to equity
0.27×
0.41×
0.37×
0.37×
0.33×
▼ 10%
PFG price history
Price history is added with the daily price update and will appear after the next one.