AI Takeaway
PFG reported a challenging FY2025 with revenue declining 3.1% to $15.6B and net income falling 25.8% to $1.19B, even as total assets grew 8.8% to $341.4B, reflecting margin compression in its insurance and financial services businesses.
Revenue
$15.63B
-3.11% YoY
EPS (Basic)
$5.32
-21.42% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-K filing
Total revenue fell from $16.1B to $15.6B (-3.1% YoY), suggesting headwinds in premium income, fee revenue, or investment returns across PFG's diversified financial services segments.
Source: Source: 10-K Income Statement, Financial Data
Net income dropped sharply from $1.60B to $1.19B (-25.8% YoY), with net margin contracting to 7.6%, indicating elevated claims, reserve strengthening, or higher operating expenses relative to revenue.
Source: Source: 10-K Income Statement, Financial Data
Total assets grew 8.8% to $341.4B, largely driven by growth in insurance reserves and investment portfolios, consistent with PFG's role as a large insurance and asset management company.
Source: Source: 10-K Balance Sheet, Financial Data
2 more insights available
Upgrade to unlockPFG's net income fell 25.8% in FY2025, highlighting significant sensitivity to capital markets, interest rate movements, and credit spreads. As a large insurance and asset management firm, mark-to-market swings and investment losses can materially impact reported earnings even when operating fundamentals are stable.
Source: Source: 10-K Income Statement & Balance Sheet, Financial Data
Unlock 4 more detailed risk analysis
Upgrade to unlockReported EPS of $2.19 versus the $2.25 analyst consensus — a -2.5% miss for FY2025.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $15.63B | $16.13B | -3.11% |
Net Income | $1.19B | $1.6B | -25.83% |
EPS (Basic) | $5.32 | $6.77 | -21.42% |
EPS (Diluted) | $5.25 | $6.68 | -21.41% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $341.38B | $313.66B | +8.84% |
Total Liabilities | $328.99B | $302.19B | +8.87% |
Stockholders' Equity | $11.88B | $11.09B | +7.19% |
Cash & Equivalents | $4.43B | $4.21B | +5.20% |
Long-Term Debt | $3.93B | $3.96B | -0.73% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $4.54B | $4.6B | -1.44% |
Investing Cash Flow | $-4.14B | $-5.4B | +23.40% |
Financing Cash Flow | $-181.8M | $300.3M | -160.54% |
Share Buybacks | $902.7M | $1.04B | -13.40% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Net Margin | 7.6% | — | — |
ROE | 10.0% | — | — |
ROA | 0.3% | — | — |
Debt to Equity | $27.683 | — | — |
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PFG reported FY2025 revenue of $15.6B (down 3.1%) and net income of $1.19B (down 25.8%), with diluted EPS of $5.25 versus $6.68 in the prior year. Despite the earnings decline, operating cash flow remained strong at $4.54B, and total assets grew 8.8% to $341.4B.
PFG's net income fell 25.8% to $1.19B in FY2025, a decline that significantly outpaced the 3.1% revenue drop, suggesting elevated claims, reserve strengthening, or adverse market-related investment impacts. Net margin compressed to 7.6% from approximately 9.9% in the prior year, pointing to meaningful cost or liability pressures.
PFG maintains a solid liquidity position with $4.43B in cash and $4.54B in operating cash flow, and stockholders' equity grew 7.2% to $11.9B. However, the balance sheet carries $329.0B in total liabilities against $341.4B in assets, a leverage profile typical of large insurance companies but one that requires careful asset-liability management.
Yes, PFG repurchased $902.7M in shares during FY2025, though this was down 13.4% from $1.04B in the prior year, reflecting a modestly more cautious capital return posture amid lower earnings. The company continued to return capital to shareholders despite the earnings headwinds.
PFG's key risks include sensitivity to capital markets and interest rates (which contributed to the 25.8% net income decline in FY2025), a highly leveraged balance sheet with a debt-to-equity ratio of approximately 27.7x, and ongoing margin compression with net margin at 7.6%. Sustained adverse investment performance or deteriorating claims experience could further pressure earnings and capital return capacity.