Principal Financial Group, Inc.

PFGNASDAQFinancial Services● Active

$105.22

+$1.71(+1.65%)

Market Cap$22.7B

P/E Ratio—

52W High$105.56

52W Low$75

Avg Volume1.4M

Open$103.39

Beta0.90

Free Cash Flow Financials Revenue

Principal Financial Group, Inc. (PFG) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

PFG · free cash flow · updated Jun 8, 2026

Core FCF metrics

PFG · FCF · TTM · margin & CAGR

Free cash flow was $4.44B for FY2025 (fiscal year ending 2025-12-31), down 2.1% year-over-year The FCF margin was 28.4%. Five-year CAGR stands at +4.1%.

FY2025 Free Cash Flow$4.44B▼ -2.1% YoY

Trailing 12M (TTM)$3.63Btrailing 4 quarters sum

FCF Margin28.4%$4.44B ÷ revenue

3-Year CAGR+13.2%FY2022 → FY2025

5-Year CAGR+4.1%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

PFG · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$4.54B(98M)$4.44B▼ 2.1%28.4%

FY2024$4.60B(69M)$4.53B▲ +22.9%28.1%

FY2023$3.79B(102M)$3.69B▲ +20.7%27.0%

FY2022$3.17B(116M)$3.06B▼ 1.0%17.4%

FY2021$3.22B(130M)$3.09B▼ 14.9%21.4%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

PFG · P/FCF · FCF yield · FCF per share

Principal Financial Group, Inc. (PFG) trades at a FCF yield of 15.98% and a price-to-free-cash-flow ratio of 6.5x. FCF per share stands at $16.09, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

15.98%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$16.09

TTM FCF ÷ Shares Outstanding

Price / FCF

x6.5

Share Price ÷ FCF per Share

EV / FCF (TTM)

x6.2

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

PFG · cash flow statement · operating / investing / financing

For FY2025, Principal Financial Group, Inc. generated $4.54B in operating cash flow and spent 98M in capital expenditures, yielding $4.44B in free cash flow.

Operating Activities

+$4.54B

Cash from core business operations

2025-12-31

Investing Activities

−$4.14B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$181.8M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($4.54B) − |CapEx| (98M) = FCF ($4.44B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

PFG vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Principal Financial Group, Inc.YOU

PFG

$4.44B-2.1%28.4%

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Principal Financial Group, Inc. (PFG) reported free cash flow of $4.44B for FY2025 (fiscal year ending 2025-12-31), down 2.1% year-over-year. The FCF margin was 28.4%.

Based on available data, Principal Financial Group, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $5.36B in FY2019. The 5-year CAGR stands at +4.1%.

Principal Financial Group, Inc.'s FCF yield is 15.98% and price-to-FCF ratio is 6.5x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

PFG free cash flow · 8 questions

Principal Financial Group, Inc. free cash flow was $4.44B for FY2025, down 2.1% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $3.63B.

PFG free cash flowPFG FCFPFG FCF 2025PFG free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Principal Financial Group, Inc. · Principal Financial Group, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026