Principal Financial Group Inc (PFG) - Net Assets
Based on the latest financial reports, Principal Financial Group Inc (PFG) has net assets worth $12.39 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($341.38 Billion) and total liabilities ($328.99 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check PFG asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $12.39 Billion |
| % of Total Assets | 3.63% |
| Annual Growth Rate | 2.77% |
| 5-Year Change | -24.71% |
| 10-Year Change | 19.25% |
| Growth Volatility | 47.54 |
Principal Financial Group Inc - Net Assets Trend (2000–2025)
This chart illustrates how Principal Financial Group Inc's net assets have evolved over time, based on quarterly financial data. Also explore Principal Financial Group Inc (PFG) total assets for the complete picture of this company's asset base.
Annual Net Assets for Principal Financial Group Inc (2000–2025)
The table below shows the annual net assets of Principal Financial Group Inc from 2000 to 2025. For live valuation and market cap data, see PFG market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $12.39 Billion | +8.04% |
| 2024-12-31 | $11.47 Billion | +2.30% |
| 2023-12-31 | $11.21 Billion | +8.79% |
| 2022-12-31 | $10.30 Billion | -37.39% |
| 2021-12-31 | $16.46 Billion | -2.46% |
| 2020-12-31 | $16.87 Billion | +12.86% |
| 2019-12-31 | $14.95 Billion | +26.20% |
| 2018-12-31 | $11.85 Billion | -9.03% |
| 2017-12-31 | $13.02 Billion | +25.33% |
| 2016-12-31 | $10.39 Billion | +9.81% |
| 2015-12-31 | $9.46 Billion | -8.04% |
| 2014-12-31 | $10.29 Billion | +2.65% |
| 2013-12-31 | $10.02 Billion | +1.94% |
| 2012-12-31 | $9.83 Billion | -1.79% |
| 2011-12-31 | $10.01 Billion | +1.29% |
| 2010-12-31 | $9.88 Billion | +23.31% |
| 2009-12-31 | $8.02 Billion | +224.18% |
| 2008-12-31 | $2.47 Billion | -66.68% |
| 2007-12-31 | $7.42 Billion | -5.59% |
| 2006-12-31 | $7.86 Billion | +0.69% |
| 2005-12-31 | $7.81 Billion | +3.48% |
| 2004-12-31 | $7.54 Billion | +1.96% |
| 2003-12-31 | $7.40 Billion | +11.15% |
| 2002-12-31 | $6.66 Billion | -2.39% |
| 2001-12-31 | $6.82 Billion | +9.07% |
| 2000-12-31 | $6.25 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Principal Financial Group Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 186.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $18.07 Billion | 152.07% |
| Common Stock | $5.00 Million | 0.04% |
| Other Comprehensive Income | $-4.19 Billion | -35.24% |
| Total Equity | $11.88 Billion | 100.00% |
Principal Financial Group Inc Competitors by Market Cap
The table below lists competitors of Principal Financial Group Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Nan Ya Printed Circuit Board Corp
TW:8046
|
$20.46 Billion |
|
Telefónica S.A
F:TNE2
|
$20.47 Billion |
|
Huatai Securities Co Ltd
SHG:601688
|
$20.48 Billion |
|
Telefonica Brasil SA ADR
NYSE:VIV
|
$20.48 Billion |
|
Telia Company AB
ST:TELIA
|
$20.42 Billion |
|
FUJIFILM HDGS CORP. ADR 1
F:FJIA
|
$20.40 Billion |
|
Rongsheng Petrochemical Co Ltd
SHE:002493
|
$20.39 Billion |
|
Cellnex Telecom SA
MC:CLNX
|
$20.38 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Principal Financial Group Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 11,086,400,000 to 11,883,900,000, a change of 797,500,000 (7.2%).
- Net income of 1,185,100,000 contributed positively to equity growth.
- Dividend payments of 684,000,000 reduced retained earnings.
- Share repurchases of 902,700,000 reduced equity.
- New share issuances of 43,700,000 increased equity.
- Other comprehensive income increased equity by 1,036,400,000.
- Other factors increased equity by 119,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.19 Billion | +9.97% |
| Dividends Paid | $684.00 Million | -5.76% |
| Share Repurchases | $902.70 Million | -7.6% |
| Share Issuances | $43.70 Million | +0.37% |
| Other Comprehensive Income | $1.04 Billion | +8.72% |
| Other Changes | $119.00 Million | +1.0% |
| Total Change | $- | 7.19% |
Book Value vs Market Value Analysis
This analysis compares Principal Financial Group Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.92x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 5.83x to 1.92x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2000-12-31 | $17.34 | $101.09 | x |
| 2001-12-31 | $18.82 | $101.09 | x |
| 2002-12-31 | $19.18 | $101.09 | x |
| 2003-12-31 | $22.61 | $101.09 | x |
| 2004-12-31 | $23.94 | $101.09 | x |
| 2005-12-31 | $26.94 | $101.09 | x |
| 2006-12-31 | $28.53 | $101.09 | x |
| 2007-12-31 | $27.68 | $101.09 | x |
| 2008-12-31 | $9.47 | $101.09 | x |
| 2009-12-31 | $26.41 | $101.09 | x |
| 2010-12-31 | $30.12 | $101.09 | x |
| 2011-12-31 | $30.34 | $101.09 | x |
| 2012-12-31 | $32.47 | $101.09 | x |
| 2013-12-31 | $32.48 | $101.09 | x |
| 2014-12-31 | $34.06 | $101.09 | x |
| 2015-12-31 | $31.25 | $101.09 | x |
| 2016-12-31 | $34.94 | $101.09 | x |
| 2017-12-31 | $43.82 | $101.09 | x |
| 2018-12-31 | $39.44 | $101.09 | x |
| 2019-12-31 | $52.02 | $101.09 | x |
| 2020-12-31 | $59.87 | $101.09 | x |
| 2021-12-31 | $58.88 | $101.09 | x |
| 2022-12-31 | $40.36 | $101.09 | x |
| 2023-12-31 | $44.63 | $101.09 | x |
| 2024-12-31 | $49.01 | $101.09 | x |
| 2025-12-31 | $52.65 | $101.09 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Principal Financial Group Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.97%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.58%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 28.73x
- Recent ROE (9.97%) is below the historical average (11.75%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 9.92% | 7.56% | 0.10x | 13.50x | $-5.10 Million |
| 2001 | 5.26% | 4.60% | 0.09x | 12.95x | $-323.23 Million |
| 2002 | 2.14% | 1.86% | 0.08x | 13.50x | $-523.42 Million |
| 2003 | 10.09% | 9.34% | 0.07x | 14.56x | $6.34 Million |
| 2004 | 10.94% | 9.94% | 0.07x | 15.08x | $71.17 Million |
| 2005 | 11.77% | 10.20% | 0.07x | 16.27x | $138.28 Million |
| 2006 | 13.54% | 10.78% | 0.07x | 18.28x | $278.22 Million |
| 2007 | 11.59% | 7.89% | 0.07x | 20.82x | $118.13 Million |
| 2008 | 18.53% | 4.61% | 0.08x | 51.84x | $210.82 Million |
| 2009 | 7.89% | 7.04% | 0.06x | 17.45x | $-166.65 Million |
| 2010 | 6.81% | 7.21% | 0.06x | 14.97x | $-309.88 Million |
| 2011 | 6.62% | 7.36% | 0.06x | 15.39x | $-325.40 Million |
| 2012 | 8.27% | 8.75% | 0.06x | 16.60x | $-168.72 Million |
| 2013 | 9.42% | 9.83% | 0.04x | 21.50x | $-55.72 Million |
| 2014 | 11.23% | 10.92% | 0.05x | 21.51x | $125.70 Million |
| 2015 | 13.25% | 10.31% | 0.05x | 23.49x | $302.84 Million |
| 2016 | 12.87% | 10.62% | 0.05x | 22.29x | $293.77 Million |
| 2017 | 17.98% | 16.39% | 0.06x | 19.76x | $1.03 Billion |
| 2018 | 13.58% | 10.86% | 0.06x | 21.34x | $407.50 Million |
| 2019 | 9.54% | 8.59% | 0.06x | 19.91x | $-67.60 Million |
| 2020 | 8.43% | 9.47% | 0.05x | 18.93x | $-260.09 Million |
| 2021 | 9.83% | 10.95% | 0.05x | 18.96x | $-26.74 Million |
| 2022 | 46.16% | 27.13% | 0.06x | 29.40x | $3.73 Billion |
| 2023 | 5.71% | 4.56% | 0.04x | 27.94x | $-468.40 Million |
| 2024 | 14.17% | 9.74% | 0.05x | 28.29x | $462.36 Million |
| 2025 | 9.97% | 7.58% | 0.05x | 28.73x | $-3.29 Million |
Industry Comparison
This section compares Principal Financial Group Inc's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,222,611,667
- Average return on equity (ROE) among peers: 5.00%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Principal Financial Group Inc (PFG) | $12.39 Billion | 9.92% | 26.55x | $20.43 Billion |
| Acadian Asset Management Inc (AAMI) | $84.00 Million | 95.24% | 7.06x | $1.86 Billion |
| AllianceBernstein Holding L.P. (AB) | $2.07 Billion | 13.23% | 0.00x | $3.60 Billion |
| Associated Capital Group Inc (AC) | $948.70 Million | 4.12% | 0.07x | $78.56 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $79.50 Million | 27.37% | 0.59x | $265.69 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $2.99 Million | -170.94% | 0.46x | $194.14 Million |
| Alvarium Tiedemann Holdings Inc. (ALTI) | $782.49 Million | -21.16% | 0.62x | $368.87 Million |
| Affiliated Managers Group Inc (AMG) | $962.54 Million | 12.37% | 1.41x | $8.19 Billion |
| Ameriprise Financial Inc (AMP) | $6.55 Billion | 54.41% | 28.15x | $41.87 Billion |
| AMTD IDEA Group (AMTD) | $611.58 Million | 16.58% | 4.02x | $44.19 Million |
| Artisan Partners Asset Management Inc (APAM) | $132.30 Million | 18.75% | 3.39x | $2.65 Billion |
About Principal Financial Group Inc
Principal Financial Group, Inc. provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and… Read more