Principal Financial Group, Inc. (PFG) Stock

Principal Financial Group, Inc. (PFG) is a Healthcare stock trading at $111.88 (as of 2026-08-24), with a market capitalization of $24.17B and a trailing P/E of 15.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Principal Financial Group, Inc. offers retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions, providing retirement savings and income offerings, investment management across asset classes, international pension and mutual fund services, and insurance solutions.

Understand Principal Financial Group, Inc.: how it makes money

Principal Financial Group provides retirement, asset management, and insurance products to businesses, individuals, and institutional clients, and it makes money through the revenues generated from these retirement and income solutions, global investors, international operations, and U.S. insurance offerings.

Earnings power appears to be driven by Principal International net cash flows, feeding operating revenues net of pass-through expenses.

Business quality (Mixed): The provided operating metrics link business activity (Principal International net cash flows) to an earnings-relevant revenue measure (Operating revenues less pass-through expenses). However, the provided segment revenue breakdown does not map cleanly to reportable segments, limiting segment-level interpretation.

Valuation: At 15× earnings, PFG trades 22% above the Insurance average (13×). Note: one-time items can distort reported P/E.

Bull case

Principal International net cash flows (segment) were USD 2.3B: Strong net cash inflows in the Principal International segment support the business engine that can translate into revenue generation over time.
Operating revenues less pass-through expenses was USD 0.42B: A positive, pass-through-adjusted revenue measure indicates there is revenue after accounting for pass-through expenses.

Bear case

Operating revenues less pass-through expenses is USD 0.42B versus total revenue of USD 3.5B: The size of pass-through expenses (implied by the gap) can be a headwind if pass-through costs are high or rise.
Provided dataset shows Retirement and Income Solutions and Principal Global Investors net revenue measures as 0.0: This limits visibility into how much these segments contribute to the revenue measures shown, making it harder to assess their underlying earnings drivers from the provided facts.

Valuation — source: SEC EDGAR (first-party)
Price	$111.88
Market Cap	$24.17B
P/E Ratio	15.5
Price / Book	2.04
Price / Sales	1.56
DCF Value (model)	$71.41
DCF Upside vs Price	-36.2%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$15.63B
Net Margin	7.6%
Revenue Growth (YoY)	-4.5%
EPS Growth (YoY)	833.3%

Valuation vs Sector & Industry
Stock P/E	15.5
Sector P/E (Healthcare)	21.7
Industry P/E (Insurance)	13.1
vs Sector	-28.6%
vs Industry	18.4%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($2.38B)
Institutional Holders Tracked	10
Congressional Trades (recent)	4

Company
Sector	Healthcare
Industry	Insurance
CEO	Deanna Dawnette Strable-Soethout
Employees	19,700
Country	US
IPO Date	2001-10-23

Related Companies (Insurance; 8 comparable insurers)

Data as of 2026-08-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.