Principal Financial Group, Inc. Financial Ratios — PFG Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	13.42	16.68	17.12	19.28	18.73	18.03	26.85	15.63	13.05	12.18	12.78	32.15	3.73	9.17	6.65
Return on Assets (%)	0.44	0.52	0.49	0.54	0.56	0.59	0.96	0.62	0.54	0.49	0.53	1.6	0.21	0.51	0.36
Return on Capital (%)	9.32	11.16	11.01	12.86	12.61	11.8	- -	11.43	9.18	8.58	8.98	24.36	2.74	7.17	5
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	10.07	10.42	12.1	14.27	11.96	12.84	15.98	12.53	10.44	11.49	13.24	34.14	5.41	11.72	9.06
Profit Margin (%)	7.36	8.75	9.83	10.92	10.31	10.62	16.39	10.86	8.59	9.47	10.95	27.13	4.56	9.74	7.58
Net Income to Common Margin (%)	6.98	8.39	9.47	10.6	10.18	10.62	16.39	10.86	8.59	9.47	10.95	27.13	4.56	9.74	7.58
Effective Tax Rate (%)	22.72	14.02	16.72	21.31	12.41	14.44	- -	12.93	14.72	15.65	14.86	19.87	9.3	15.44	11.33
Dvd Payout Ratio (%)	31.53	28.51	31.13	32.03	35.11	33.04	23.09	38.35	40.56	42.05	39.08	13.28	87.24	40.52	51.59
Sustainable Growth Rate (%)	9.19	11.93	11.79	13.1	12.15	12.07	20.65	9.64	7.75	7.06	7.78	27.88	0.48	5.45	3.22

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	1,670	2,712	2,752	2,559	3,446	3,177	3,218	3,302	3,828	4,364	4,360	4,078	3,992	4,108	3,954
ST Debt	105	41	151	28	181	51	40	43	93	85	80	381	61	153	28
LT Debt	1,565	2,671	2,601	2,531	3,265	3,126	3,178	3,260	3,734	4,279	4,280	3,697	3,931	3,955	3,926
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	2.99	3.01	2.6	2.79	3.15	3.39	3.74	4.24	4.01	3.99	4.23	5.74	5.47	5.61	5.3
Long-Term Debt/Equity (%)	16.66	27.36	25.95	24.6	34.5	30.08	24.41	27.51	24.98	25.36	26.01	35.96	35.06	34.49	31.69
Long-Term Debt/Capital (%)	24.25	34.88	30.6	28.82	31.16	28.25	24.68	23.19	24.5	25.9	24.27	17.54	18.74	17.91	17.42
Long-Term Debt/Total Assets (%)	1.06	1.65	1.25	1.16	1.49	1.37	1.25	1.34	1.35	1.44	1.4	1.27	1.29	1.26	1.15
Total Debt/Equity (%)	17.78	27.78	27.45	24.87	36.42	30.57	24.71	27.88	25.6	25.86	26.49	39.67	35.61	35.82	31.91
Total Debt/Capital (%)	25.88	35.41	32.37	29.13	32.89	28.71	24.98	23.5	25.12	26.41	24.72	19.34	19.03	18.61	17.54
Total Debt/Total Assets (%)	1.13	1.68	1.32	1.17	1.58	1.39	1.27	1.36	1.39	1.47	1.43	1.4	1.31	1.31	1.16
Net Debt to Equity	-12.39	-15.01	3.79	6.76	9.32	4.4	5.74	2.74	8.77	8.97	12.32	-7.49	-6.38	-0.91	-3.85
Net Debt/Capital (%)	-32.16	-42.08	6.2	10.05	11.14	5.48	7.18	2.93	10.31	11.08	13.25	-4.74	-4.4	-0.58	-2.63
EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	-57	-39	-59	-136	-136	-155	-165	-92	-132	-109	-130	-116	-102	-69	-98
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	2.99	3.01	2.6	2.79	3.15	3.39	3.74	4.24	4.01	3.99	4.23	5.74	5.47	5.61	5.3
Long-Term Debt/Equity (%)	16.66	27.36	25.95	24.6	34.5	30.08	24.41	27.51	24.98	25.36	26.01	35.96	35.06	34.49	31.69
Long-Term Debt/Capital (%)	24.25	34.88	30.6	28.82	31.16	28.25	24.68	23.19	24.5	25.9	24.27	17.54	18.74	17.91	17.42
Long-Term Debt/Total Assets (%)	1.06	1.65	1.25	1.16	1.49	1.37	1.25	1.34	1.35	1.44	1.4	1.27	1.29	1.26	1.15
Total Debt/Equity (%)	17.78	27.78	27.45	24.87	36.42	30.57	24.71	27.88	25.6	25.86	26.49	39.67	35.61	35.82	31.91
Total Debt/Capital (%)	25.88	35.41	32.37	29.13	32.89	28.71	24.98	23.5	25.12	26.41	24.72	19.34	19.03	18.61	17.54
Total Debt/Total Assets (%)	1.13	1.68	1.32	1.17	1.58	1.39	1.27	1.36	1.39	1.47	1.43	1.4	1.31	1.31	1.16
CFO/Total Liabilities	1.97	2.03	1.12	1.49	2.09	1.77	1.74	2.23	2.1	1.33	1.13	1.13	1.29	1.52	1.38
CFO/CapEx	47.69	79.2	37.39	22.82	32.09	24.91	25.41	55.87	41.49	34.09	25.05	27.28	37.18	66.9	46.29
Altman's Z-Score	0.14	0.13	0.13	0.13	0.14	0.15	0.16	0.15	0.15	0.14	0.15	0.19	0.16	0.17	0.16

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	7.67	8.08	7.99	8.54	9.06	8.88	9.95	9.88	10.29	8.51	8.09	1.29	0.55	0.67	0.68
Days Sales Outstanding	47.56	45.17	45.68	42.74	40.3	41.1	36.67	36.95	35.48	42.89	45.11	283.26	667.54	541.72	539.09
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	7,737	8,379	14,556	15,265	13,242	16,745	20,385	12,624	15,213	13,558	18,929	21,072	18,601	17,512	19,653
- Cash & Cash Equivalents	2,834	4,177	2,372	1,864	2,565	2,720	2,471	2,978	2,516	2,850	2,332	4,848	4,708	4,212	4,431
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	376	80	340	106	152	164	174	457	333	314	389	303	295	383	507
+ Total Debt	1,670	2,712	2,752	2,559	3,446	3,177	3,218	3,302	3,828	4,364	4,360	4,078	3,992	4,108	3,954
Enterprise Value	-42,135	-44,081	-33,591	-33,727	-35,796	-37,579	-38,083	-46,703	-53,249	-63,324	-56,809	-42,285	-47,494	-50,460	-8,133
Total Capital	6,453	7,659	8,502	8,784	10,478	11,066	12,879	14,055	15,239	16,521	17,638	21,083	20,975	22,079	22,538
Total Debt/Capital (%)	25.88	35.41	32.37	29.13	32.89	28.71	24.98	23.5	25.12	26.41	24.72	19.34	19.03	18.61	17.54
Total Debt / EV	-0.04	-0.06	-0.08	-0.08	-0.1	-0.08	-0.08	-0.07	-0.07	-0.07	-0.08	-0.1	-0.08	-0.08	-0.49
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	7,813	8,567	14,704	15,514	13,404	16,936	20,681	12,756	15,213	13,558	18,929	21,425	18,601	17,512	19,909
Diluted Enterprise Value	7,025	7,183	15,425	16,316	14,437	17,557	21,602	13,538	16,857	15,387	21,346	20,958	18,180	17,791	19,939
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	8,671	9,215	9,290	10,478	11,964	12,394	14,093	14,237	16,222	14,742	14,428	17,536	13,666	16,128	15,626
TTM EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	2,713	3,081	2,221	3,103	4,377	3,858	4,188	5,156	5,493	3,709	3,254	3,173	3,792	4,603	4,537
TTM Free Cash Flow to Firm	2,770	3,120	2,281	3,239	4,514	4,013	4,353	5,249	5,626	3,818	3,384	3,289	3,894	4,672	4,635

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	2.82	2.75	6.45	4.79	2.97	4.22	4.75	2.43	2.7	3.55	5.59	6.51	4.78	3.75	4.3
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-42,135	-44,081	-33,591	-33,727	-35,796	-37,579	-38,083	-46,703	-53,249	-63,324	-56,809	-42,285	-47,494	-50,460	-8,133
Low Price	20.48	23.09	28.75	41.2	41.67	33.09	56.12	40.42	43.25	23.31	47.52	61.05	65.17	72.21	68.39
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	12.78	10.83	16.55	13.74	10.88	12.72	8.82	8.16	10.91	9.71	11.98	4.43	29.85	11.15	16.58
Price/Earnings Average	14.72	10.21	13.23	13.04	12.26	10.09	8.06	10.56	10.71	8.43	10.52	3.96	29.11	11.76	15.24
Price/Earnings High	18.19	11.38	17.1	14.57	14.03	13.48	9.03	13.97	12.06	11.19	12.3	5.08	35.61	13.25	17.31
Price/Earnings Low	10.64	8.77	9.65	10.9	10.08	7.27	7.02	7.47	8.58	4.56	7.87	3.22	24.73	10.4	12.86
Price/Book Value	1.76	1.72	2.69	2.49	1.92	2.17	2.15	1.23	1.37	1.14	1.47	1.26	1.11	1	1.09
Price/Book Value Average	2.02	1.62	2.15	2.37	2.17	1.72	1.96	1.59	1.35	0.99	1.29	1.13	1.09	1.05	1
Price/Book Value High	2.5	1.81	2.78	2.65	2.48	2.3	2.2	2.1	1.52	1.32	1.51	1.45	1.33	1.18	1.14
Price/Book Value Low	1.46	1.39	1.57	1.98	1.78	1.24	1.71	1.12	1.08	0.54	0.96	0.92	0.92	0.93	0.84
Price/Tangible Book Value	0.96	1.01	1.95	1.92	1.87	2.08	1.92	1.34	1.33	1.01	1.43	2.95	2.29	2.05	2.06
Price/Tangible Book Value Average	1.11	0.95	1.56	1.82	2.1	1.65	1.75	1.73	1.3	0.88	1.26	2.64	2.23	2.17	1.9
Price/Tangible Book Value High	1.37	1.06	2.02	2.03	2.41	2.21	1.96	2.29	1.47	1.16	1.47	3.38	2.73	2.44	2.15
Price/Tangible Book Value Low	0.8	0.82	1.14	1.52	1.73	1.19	1.52	1.22	1.04	0.47	0.94	2.14	1.89	1.92	1.6
Price/Sales	0.89	0.91	1.57	1.46	1.11	1.35	1.45	0.89	0.94	0.92	1.31	1.2	1.36	1.09	1.26
Price/Sales Average	1.03	0.86	1.25	1.38	1.25	1.07	1.32	1.15	0.92	0.8	1.15	1.08	1.33	1.15	1.16
Price/Sales High	1.27	0.96	1.62	1.54	1.43	1.43	1.48	1.52	1.04	1.06	1.35	1.38	1.62	1.29	1.31
Price/Sales Low	0.74	0.74	0.91	1.16	1.03	0.77	1.15	0.81	0.74	0.43	0.86	0.87	1.13	1.01	0.98
Price/Cash Flow	2.85	2.72	6.55	4.92	3.03	4.34	4.87	2.45	2.77	3.66	5.82	6.64	4.9	3.8	4.33
Price/Cash Flow Average	3.28	2.56	5.24	4.67	3.41	3.44	4.44	3.17	2.72	3.17	5.11	5.94	4.78	4.01	3.98
Price/Cash Flow High	4.06	2.86	6.77	5.22	3.9	4.6	4.98	4.19	3.06	4.21	5.97	7.61	5.85	4.52	4.52
Price/Cash Flow Low	2.37	2.2	3.82	3.9	2.8	2.48	3.87	2.24	2.18	1.72	3.82	4.83	4.06	3.55	3.36
Price/Free Cash Flow Average	3.25	2.59	5.15	4.55	3.35	3.35	4.34	3.14	2.65	3.08	4.91	5.83	4.66	3.95	3.95
Price/Free Cash Flow High	4.01	2.88	6.66	5.08	3.83	4.47	4.86	4.16	2.99	4.09	5.75	7.46	5.7	4.45	4.49
Price/Free Cash Flow Low	2.35	2.22	3.76	3.8	2.75	2.41	3.78	2.22	2.13	1.67	3.67	4.74	3.96	3.5	3.33
EV/Sales Average	0.94	0.71	1.33	1.46	1.33	1.12	1.39	1.2	1.02	0.92	1.32	1.05	1.3	1.16	1.16
EV/Sales High	1.18	0.8	1.7	1.62	1.51	1.48	1.55	1.57	1.14	1.18	1.52	1.35	1.59	1.31	1.32
EV/Sales Low	0.65	0.59	0.99	1.23	1.11	0.82	1.22	0.87	0.84	0.56	1.03	0.85	1.1	1.03	0.98
EV/EBITDA Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	24.6	28.52	49.31	51.94	44.98	57.86	70.56	44.17	55	49.61	72.33	83.92	78.67	77.41	88.21
High Price	35	29.96	50.97	55.07	58.02	61.34	72.23	75.58	60.81	57.16	74.3	96.17	93.87	91.98	92.1
Enterprise Value Average	8,120	6,518	12,358	15,291	15,957	13,910	19,533	17,116	16,573	13,593	19,036	18,391	17,721	18,748	18,092
Enterprise Value High	10,220	7,418	15,767	16,986	18,114	18,373	21,788	22,383	18,464	17,450	21,861	23,681	21,773	21,087	20,550
Enterprise Value Low	5,653	5,399	9,207	12,910	13,301	10,198	17,134	12,334	13,607	8,199	14,853	14,862	14,988	16,614	15,268

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	301	294	295	294	291	288	289	280	277	273	262	244	236	226	217
Diluted Weighted Avg Shares	318	300	298	299	298	293	293	289	277	273	262	255	236	226	226
Basic Weighted Avg Shares	314	294	295	294	294	289	289	286	277	273	262	251	236	226	223
Revenue per Share	27.57	31.37	31.47	35.65	40.64	42.83	48.78	49.82	58.65	53.94	55.13	69.84	57.8	71.29	70.13
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	1.92	2.63	2.98	3.78	4.14	4.55	8	5.41	5.04	5.11	6.04	18.94	2.64	6.94	5.32
Basic EPS from Cont Ops	2.14	2.81	3.17	4	4.26	4.71	8.05	5.44	5.22	5.23	6.22	19.11	2.83	7.06	5.64
Diluted EPS, GAAP	1.91	2.58	2.95	3.72	4.09	4.5	7.88	5.35	5.04	5.11	6.04	18.63	2.64	6.94	5.25
Diluted EPS from Cont Ops	2.12	2.75	3.14	3.94	4.21	4.65	7.93	5.38	5.22	5.23	6.22	18.79	2.83	7.06	5.56
Dividend per Share	0.78	0.9	1.09	1.39	1.55	1.61	1.87	2.09	2.19	2.25	2.5	2.56	2.65	2.91	3.07
Cash Flow per Share	8.63	10.49	7.52	10.56	14.87	13.33	14.5	18.04	19.86	13.57	12.44	12.64	16.04	20.35	20.36
Free Cash Flow per Basic Share	8.45	10.35	7.32	10.09	14.4	12.8	13.93	17.72	19.38	13.17	11.94	12.17	15.61	20.04	19.92
Cash & Equivalents per Share	165.08	188.06	173.58	175.77	178.79	199.26	214.12	220.73	262.55	298.43	307.55	269.76	297.67	320.31	144.74
Book Value per Share	14.01	16.56	18.33	20.82	23.37	26.69	32.84	36.02	40.05	43.33	49.25	66.52	70.58	77.75	81.13
Tangible Book Value per Share	25.5	28.27	25.29	27.08	24.1	27.8	36.83	33	41.47	49.17	50.55	28.47	34.4	37.7	42.75

Principal Financial Group, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)