Principal Financial Group Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Principal Financial Group Inc reported revenue of $15.6B (-3.1% year on year) and net income of $1.3B (-21.4% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Premiums and other considerations | $6.8B | $6.9B | $6.5B | $5.3B |
| Fees and other revenues | $4.4B | $4.3B | $4.1B | $4.2B |
| Net investment income (loss) | $4.7B | $4.4B | $4.1B | $3.8B |
| Net realized capital gains (losses) | $27.7M | ($27.3M) | ($72.2M) | ($258.4M) |
| Net realized capital gains (losses) on funds withheld assets | $43.2M | $87.7M | $165.0M | $749.4M |
| Change in fair value of funds withheld embedded derivative | ($381.1M) | $447.4M | ($1.1B) | $3.7B |
| Total revenues | $15.6B | $16.1B | $13.7B | $17.5B |
| Benefits, claims and settlement expenses | $8.6B | $8.1B | $7.8B | $6.4B |
| Liability for future policy benefits remeasurement (gain) loss | $56.4M | $671.4M | ($51.6M) | — |
| Market risk benefit remeasurement (gain) loss | $63.1M | $30.3M | $29.1M | — |
| Dividends to policyholders | $91.7M | $99.9M | $89.2M | $94.8M |
| Operating expenses | $5.4B | $5.4B | $5.1B | $5.0B |
| Total expenses | $14.2B | $14.2B | $12.9B | $11.4B |
| Income (loss) before income taxes | $1.4B | $1.9B | $738.8M | $6.1B |
| Income taxes (benefits) | $160.5M | $291.7M | $68.7M | $1.2B |
| Net income (loss) | $1.3B | $1.6B | $670.1M | $4.9B |
| Net income (loss) attributable to noncontrolling interest | $70.4M | $26.9M | $46.9M | $40.6M |
| Net income (loss) attributable to Principal Financial Group, Inc. | $1.2B | $1.6B | $623.2M | $4.8B |
| Basic earnings per common share (in dollars per share) | $5.32 | $6.77 | $2.58 | $19.16 |
| Diluted earnings per common share (in dollars per share) | $5.25 | $6.68 | $2.55 | $18.85 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Premiums and other considerations | $1.5B | $1.1B | $1.5B | $1.4B |
| Fees and other revenues | $1.1B | $1.1B | $1.1B | $1.1B |
| Net investment income (loss) | $1.3B | $1.2B | $1.2B | $1.2B |
| Net realized capital gains (losses) | $109.7M | ($122.1M) | $85.7M | $5.4M |
| Net realized capital gains (losses) on funds withheld assets | ($8.1M) | $9.4M | ($200.0K) | $3.7M |
| Change in fair value of funds withheld embedded derivative | ($104.4M) | $177.4M | ($265.9M) | $20.3M |
| Total revenues | $3.9B | $3.5B | $3.7B | $3.7B |
| Benefits, claims and settlement expenses | $2.0B | $1.6B | $2.0B | $1.8B |
| Liability for future policy benefits remeasurement (gain) loss | $7.4M | ($14.7M) | $60.9M | ($4.3M) |
| Market risk benefit remeasurement (gain) loss | ($14.5M) | $40.5M | $4.0M | $14.3M |
| Dividends to policyholders | $23.9M | $30.6M | $30.0M | $22.9M |
| Operating expenses | $1.4B | $1.4B | $1.4B | $1.3B |
| Total expenses | $3.4B | $3.0B | $3.4B | $3.2B |
| Income (loss) before income taxes | $496.3M | $481.8M | $248.4M | $503.1M |
| Income taxes (benefits) | $66.0M | $68.9M | $14.5M | $69.6M |
| Net income (loss) | $430.3M | $412.9M | $233.9M | $433.5M |
| Net income (loss) attributable to noncontrolling interest | $26.9M | ($11.7M) | $20.1M | $27.3M |
| Net income (loss) attributable to Principal Financial Group, Inc. | $403.4M | $424.6M | $213.8M | $406.2M |
| Basic earnings per common share (in dollars per share) | $1.87 | $1.96 | $0.96 | $1.81 |
| Diluted earnings per common share (in dollars per share) | $1.84 | $1.93 | $0.95 | $1.79 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Fixed maturities, available-for-sale | $73.4B | $68.3B | $65.7B | $62.9B |
| Fixed maturities, trading (2025 and 2024 include $185.0 million and $205.9 million related to consolidated variable interest entities) | $1.2B | $1.0B | $836.2M | $760.7M |
| Equity securities (2025 and 2024 include $428.6 million and $367.9 million related to consolidated variable interest entities) | $2.2B | $2.3B | $1.5B | $1.7B |
| Mortgage loans (2025 and 2024 include $726.5 million and $944.5 million related to consolidated variable interest entities and $0.0 million and $140.6 million measured at fair value under the fair value option) | $21.0B | $20.5B | $20.1B | $20.6B |
| Real estate (2025 and 2024 include $819.4 million and $781.8 million related to consolidated variable interest entities) | $2.4B | $2.5B | $2.3B | $2.2B |
| Policy loans | $866.7M | $867.5M | $809.3M | $784.7M |
| Other investments (2025 and 2024 include $838.4 million and $625.6 million related to consolidated variable interest entities and $167.1 million and $129.0 million measured at fair value under the fair value option) | $9.8B | $8.0B | $7.0B | $6.1B |
| Total investments | $110.9B | $103.4B | $98.3B | $95.1B |
| Cash and cash equivalents (2025 and 2024 include $89.1 million and $86.1 million related to consolidated variable interest entities) | $4.4B | $4.2B | $4.7B | $4.8B |
| Accrued investment income (2025 and 2024 include $43.8 million and $19.1 million related to consolidated variable interest entities) | $870.9M | $828.6M | $786.2M | $742.1M |
| Reinsurance recoverable and deposit receivable | $19.0B | $19.5B | $20.6B | $22.0B |
| Premiums due and other receivables | $3.9B | $3.8B | $4.0B | $4.3B |
| Deferred acquisition costs | $4.1B | $4.0B | $4.0B | $4.7B |
| Market risk benefit asset | $197.1M | $199.5M | $153.4M | — |
| Property and equipment | $701.4M | $769.4M | $938.4M | $996.1M |
| Goodwill | $1.6B | $1.5B | $1.6B | $1.6B |
| Other intangibles | $1.3B | $1.4B | $1.5B | $1.5B |
| Separate account assets (2025 and 2024 include $41,450.5 million and $32,802.2 million related to consolidated variable interest entities) | $193.6B | $173.3B | $167.6B | $155.4B |
| Other assets | $818.3M | $743.2M | $895.7M | $1.1B |
| Total assets | $341.4B | $313.7B | $305.0B | $292.2B |
| Contractholder funds | $45.4B | $43.1B | $41.5B | $42.8B |
| Future policy benefits and claims | $51.7B | $48.2B | $46.8B | $44.9B |
| Market risk benefit liability | $66.9M | $62.1M | $133.2M | — |
| Other policyholder funds | $940.8M | $966.4M | $916.8M | $1.0B |
| Short-term debt (2025 and 2024 include $0.0 million and $119.0 million related to consolidated variable interest entities) | $27.7M | $152.7M | $61.1M | $80.7M |
| Long-term debt | $3.9B | $4.0B | $3.9B | $4.0B |
| Income taxes currently payable | $29.5M | $8.6M | $11.9M | $19.2M |
| Deferred income taxes | $1.9B | $1.7B | $1.6B | $1.2B |
| Separate account liabilities (2025 and 2024 include $41,450.5 million and $32,802.2 million related to consolidated variable interest entities) | $193.6B | $173.3B | $167.6B | $155.4B |
| Funds withheld payable | $17.8B | $18.1B | $19.6B | $20.4B |
| Other liabilities (2025 and 2024 include $69.4 million and $108.8 million related to consolidated variable interest entities) | $13.6B | $12.6B | $11.6B | $12.2B |
| Total liabilities | $329.0B | $302.2B | $293.8B | $281.9B |
| Redeemable noncontrolling interest (2025 and 2024 include $440.9 million and $309.9 million related to consolidated variable interest entities) | $474.3M | $337.7M | $248.9M | $262.0M |
| Common stock, par value $0.01 per share; 2,500,000,000 shares authorized; 496,884,232 and 494,734,908 shares issued as of 2025 and 2024; 217,380,912 and 226,225,161 shares outstanding as of 2025 and 2024 | $5000000.00 | $4900000.00 | $4900000.00 | $4900000.00 |
| Additional paid-in capital | $11.3B | $11.1B | $10.9B | $10.7B |
| Retained earnings (accumulated deficit) | $18.1B | $17.6B | $16.7B | $17.0B |
| Accumulated other comprehensive loss | ($4.2B) | ($5.2B) | ($5.3B) | ($7.2B) |
| Treasury stock, at cost (279,503,320 and 268,509,747 shares as of 2025 and 2024) | -13.3B | -12.4B | -11.3B | -10.6B |
| Total stockholders' equity attributable to Principal Financial Group, Inc. | $11.9B | $11.1B | $10.9B | $10.0B |
| Noncontrolling interest | $33.1M | $44.9M | $45.7M | $41.1M |
| Total stockholders' equity | $11.9B | $11.1B | $11.0B | $10.0B |
| Total liabilities and stockholders' equity | $341.4B | $313.7B | $305.0B | $292.2B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Fixed maturities, available-for-sale | $74.0B | $72.9B | $71.3B | $70.6B |
| Fixed maturities, trading (2026 and 2025 include $150.6 million and $185.0 million related to consolidated variable interest entities) | $1.1B | $1.3B | $1.4B | $1.2B |
| Equity securities (2026 and 2025 include $432.8 million and $428.6 million related to consolidated variable interest entities) | $2.6B | $2.3B | $1.6B | $1.6B |
| Mortgage loans (2026 and 2025 include $680.5 million and $726.5 million related to consolidated variable interest entities) | $21.1B | $21.1B | $20.7B | $20.7B |
| Real estate (2026 and 2025 include $854.0 million and $819.4 million related to consolidated variable interest entities) | $2.4B | $2.4B | $2.4B | $2.5B |
| Policy loans | $875.5M | $873.1M | $870.7M | $873.7M |
| Other investments (2026 and 2025 include $981.1 million and $838.4 million related to consolidated variable interest entities and $88.2 million and $167.1 million measured at fair value under the fair value option) | $10.9B | $9.9B | $9.3B | $8.7B |
| Total investments | $113.0B | $110.9B | $107.6B | $106.1B |
| Cash and cash equivalents (2026 and 2025 include $103.2 million and $89.1 million related to consolidated variable interest entities) | $5.3B | $4.1B | $5.1B | $3.7B |
| Accrued investment income (2026 and 2025 include $48.9 million and $43.8 million related to consolidated variable interest entities) | $917.3M | $910.9M | $899.0M | $877.8M |
| Reinsurance recoverable and deposit receivable | $18.6B | $18.7B | $19.3B | $19.3B |
| Premiums due and other receivables | $3.8B | $3.6B | $3.8B | $3.8B |
| Deferred acquisition costs | $4.1B | $4.1B | $4.1B | $4.0B |
| Market risk benefit asset | $202.8M | $163.7M | $187.5M | $180.2M |
| Property and equipment | $778.7M | $714.9M | $716.2M | $724.7M |
| Goodwill | $1.6B | $1.6B | $1.6B | $1.6B |
| Other intangibles | $1.3B | $1.3B | $1.3B | $1.3B |
| Separate account assets (2026 and 2025 include $43,323.8 million and $41,450.5 million related to consolidated variable interest entities) | $202.4B | $185.8B | $189.3B | $180.7B |
| Other assets | $850.2M | $876.3M | $759.7M | $767.5M |
| Total assets | $352.8B | $332.7B | $334.5B | $323.1B |
| Contractholder funds | $47.1B | $45.9B | $44.4B | $43.4B |
| Future policy benefits and claims | $51.2B | $50.9B | $50.7B | $49.9B |
| Market risk benefit liability | $65.9M | $81.4M | $69.1M | $68.8M |
| Other policyholder funds | $944.0M | $950.4M | $944.2M | $935.5M |
| Short-term debt | $16.2M | $18.2M | $13.0M | $24.1M |
| Long-term debt | $4.3B | $3.9B | $3.9B | $3.9B |
| Income taxes currently payable | $16.8M | $46.0M | $26.4M | $18.8M |
| Deferred income taxes | $1.9B | $1.9B | $1.8B | $1.8B |
| Separate account liabilities (2026 and 2025 include $43,323.8 million and $41,450.5 million related to consolidated variable interest entities) | $202.4B | $185.8B | $189.3B | $180.7B |
| Funds withheld payable | $17.4B | $17.5B | $18.1B | $18.0B |
| Other liabilities (2026 and 2025 include $71.2 million and $69.4 million related to consolidated variable interest entities) | $14.5B | $13.3B | $13.1B | $12.4B |
| Total liabilities | $339.9B | $320.3B | $322.4B | $311.2B |
| Redeemable noncontrolling interest (2026 and 2025 include $672.1 million and $440.9 million related to consolidated variable interest entities) | $711.7M | $544.1M | $410.1M | $391.2M |
| Common stock, par value $0.01 per share; 2,500,000,000 shares authorized; 499,185,352 and 496,884,232 shares issued as of 2026 and 2025; 214,635,434 and 217,380,912 shares outstanding as of 2026 and 2025 | $5000000.00 | $5000000.00 | $5000000.00 | $5000000.00 |
| Additional paid-in capital | $11.4B | $11.4B | $11.2B | $11.2B |
| Retained earnings (accumulated losses) | $18.5B | $18.3B | $17.7B | $17.7B |
| Accumulated other comprehensive loss | ($4.1B) | ($4.3B) | ($4.3B) | ($4.7B) |
| Treasury stock, at cost; 284,549,918 and 279,503,320 shares as of 2026 and 2025 | -13.8B | -13.5B | -13.0B | -12.8B |
| Total stockholders' equity attributable to Principal Financial Group, Inc. | $12.1B | $11.8B | $11.7B | $11.4B |
| Noncontrolling interest | $35.0M | $33.4M | $52.4M | $52.0M |
| Total stockholders' equity | $12.2B | $11.8B | $11.7B | $11.5B |
| Total liabilities and stockholders' equity | $352.8B | $332.7B | $334.5B | $323.1B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income (loss) | $1.3B | $1.6B | $670.1M | $4.9B |
| Net realized capital (gains) losses | ($27.7M) | $27.3M | $72.2M | $258.4M |
| Net realized capital (gains) losses on funds withheld assets | ($43.2M) | ($87.7M) | ($165.0M) | ($749.4M) |
| Change in fair value of funds withheld embedded derivative | $381.1M | ($447.4M) | $1.1B | ($3.7B) |
| Depreciation and amortization expense | $251.4M | $256.2M | $272.7M | $295.9M |
| Amortization of deferred acquisition costs and contract costs | $480.5M | $431.0M | $428.1M | $420.0M |
| Additions to deferred acquisition costs and contract costs | ($512.8M) | ($490.6M) | ($429.3M) | ($421.4M) |
| Amortization of reinsurance (gain) loss | $96.9M | $631.6M | $17.7M | $84.5M |
| Market risk benefit remeasurement (gain) loss | $63.1M | $30.3M | $29.1M | — |
| Stock-based compensation | $109.9M | $108.7M | $99.4M | $91.3M |
| (Income) loss from equity method investments, net of dividends received | ($127.7M) | $10.9M | ($110.2M) | ($102.9M) |
| Accrued investment income | ($43.3M) | ($42.4M) | ($44.1M) | ($46.3M) |
| Net cash flows for trading securities and equity securities with operating intent | $79.3M | ($97.5M) | ($56.0M) | ($339.5M) |
| Premiums due and other receivables | ($181.0M) | $53.1M | ($36.7M) | ($3.6B) |
| Contractholder and policyholder liabilities and dividends | $2.5B | $2.7B | $2.6B | $1.4B |
| Current and deferred income taxes (benefits) | ($96.4M) | $106.1M | ($40.5M) | $873.1M |
| Real estate acquired through operating activities | ($4.2M) | ($82.4M) | ($130.8M) | ($164.4M) |
| Funds withheld, net of reinsurance recoverable and deposit receivable | $59.4M | ($33.4M) | ($665.2M) | $3.8B |
| Other assets and liabilities | $254.1M | $1.7M | $214.9M | $345.0M |
| Other | $11.8M | ($207.2M) | ($146.5M) | ($125.9M) |
| Net adjustments | $3.3B | $3.0B | $3.1B | ($1.7B) |
| Net cash provided by (used in) operating activities | $4.5B | $4.6B | $3.8B | $3.2B |
| Fixed maturities available-for-sale and equity securities with intent to hold: Purchases | ($15.7B) | ($15.0B) | ($11.4B) | ($19.4B) |
| Fixed maturities available-for-sale and equity securities with intent to hold: Sales | $4.6B | $3.5B | $5.9B | $14.7B |
| Fixed maturities available-for-sale and equity securities with intent to hold: Maturities | $8.2B | $7.4B | $5.2B | $6.9B |
| Mortgage loans acquired or originated | ($3.9B) | ($2.4B) | ($2.0B) | ($3.7B) |
| Mortgage loans sold or repaid | $3.3B | $1.9B | $2.1B | $2.6B |
| Real estate acquired | ($135.5M) | ($167.8M) | ($187.5M) | ($245.2M) |
| Real estate sold | $201.0M | $125.8M | $132.0M | $374.0M |
| Net purchases of property and equipment | ($98.0M) | ($68.8M) | ($102.0M) | ($116.3M) |
| Sale of interests in subsidiaries, net of cash divested | ($5.6M) | — | — | — |
| Net change in other investments | ($672.0M) | ($692.7M) | ($919.3M) | ($68.2M) |
| Net cash provided by (used in) investing activities | ($4.1B) | ($5.4B) | ($1.3B) | $1.1B |
| Issuance of common stock | $43.7M | $67.7M | $57.8M | $181.7M |
| Acquisition of treasury stock | ($902.7M) | ($1.0B) | ($740.4M) | ($1.7B) |
| Payments for financing element derivatives | ($41.9M) | ($43.1M) | ($42.1M) | ($50.6M) |
| Purchase of subsidiary shares from noncontrolling interest | -7.6M | -900.0K | -2.8M | -9.2M |
| Dividends to common stockholders | ($684.0M) | ($658.4M) | ($625.5M) | ($642.3M) |
| Principal repayments of long-term debt | ($400.1M) | ($100.0K) | ($764.0M) | ($302.0M) |
| Net proceeds from (repayments of) short-term borrowings | ($9.0M) | $97.9M | ($18.5M) | $900.0K |
| Investment contract deposits | $12.0B | $12.2B | $8.6B | $7.3B |
| Investment contract withdrawals | ($10.6B) | ($11.0B) | ($9.4B) | ($7.6B) |
| Net increase (decrease) in banking operation deposits | $442.8M | $571.2M | ($338.6M) | $1.1B |
| Other | ($1.3M) | $400.0K | $300.0K | — |
| Net cash provided by (used in) financing activities | ($181.8M) | $300.3M | ($2.6B) | ($1.7B) |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net cash provided by operating activities | $2.3B | $187.1M | $2.8B | $1.8B |
| Fixed maturities available-for-sale and equity securities with intent to hold: Purchases | ($8.4B) | ($4.0B) | ($10.1B) | ($7.4B) |
| Fixed maturities available-for-sale and equity securities with intent to hold: Sales | $2.1B | $940.5M | $4.1B | $3.3B |
| Fixed maturities available-for-sale and equity securities with intent to hold: Maturities | $4.8B | $2.4B | $5.8B | $3.5B |
| Mortgage loans acquired or originated | ($1.9B) | ($738.9M) | ($2.7B) | ($1.7B) |
| Mortgage loans sold or repaid | $1.5B | $604.3M | $2.4B | $1.5B |
| Real estate acquired | ($75.8M) | ($17.5M) | ($88.3M) | ($64.7M) |
| Real estate sold | $14.6M | $10.5M | $152.4M | $9.5M |
| Net purchases of property and equipment | ($101.4M) | ($33.8M) | ($63.6M) | ($39.6M) |
| Purchase of business or interests in subsidiaries, net of cash acquired | ($14.1M) | ($16.9M) | — | — |
| Sale of interests in subsidiaries, net of cash divested | $2.5M | $2.5M | — | — |
| Net change in other investments | ($307.1M) | ($102.9M) | ($577.6M) | ($329.8M) |
| Net cash provided by (used in) investing activities | ($2.4B) | ($959.8M) | ($1.0B) | ($1.2B) |
| Issuance of common stock | $69.0M | $28.2M | $33.6M | $27.3M |
| Acquisition of treasury stock | ($492.7M) | ($235.0M) | ($627.3M) | ($399.6M) |
| Payments for financing element derivatives | ($19.6M) | ($10.9M) | ($31.5M) | ($21.4M) |
| Purchase of subsidiary shares from noncontrolling interest | -300.0K | -300.0K | -4.3M | -1.4M |
| Dividends to common stockholders | ($350.0M) | ($173.5M) | ($511.6M) | ($338.7M) |
| Issuance of long-term debt | $394.9M | — | — | — |
| Net proceeds from (repayments of) short-term borrowings | ($11.2M) | ($9.0M) | ($22.1M) | ($11.6M) |
| Investment contract deposits | $6.3B | $3.2B | $8.8B | $5.7B |
| Investment contract withdrawals | ($5.5B) | ($2.6B) | ($8.2B) | ($5.7B) |
| Net increase (decrease) in banking operation deposits | $467.5M | $260.1M | $120.0M | $32.3M |
| Net cash provided by (used in) financing activities | $945.0M | $395.7M | ($833.2M) | ($1.1B) |
| Net increase (decrease) in cash and cash equivalents | $828.5M | ($377.0M) | $925.2M | ($552.9M) |
| Cash and cash equivalents at beginning of period | $4.4B | $4.4B | $4.2B | $4.2B |
| Cash and cash equivalents at end of period | $5.3B | $4.1B | $5.1B | $3.7B |
Principal Financial Group Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.