Filing Flows › Principal Financial Group (PFG) › Q4 2025
Principal Financial Group (PFG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 18, 2026
Principal Financial Group (PFG) reported revenue of $4.6B for the fourth quarter 2025 (Q4 2025), -4% from a year earlier and +24% from the quarter before. Operating margin was 13.9%, net earnings $517M (11.3% of revenue).
Principal Financial Group, Q4 2025: revenue $4.6B (-4% year over year), operating margin 13.9%, net earnings $517M, operating cash flow $1.7B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.6B | +24% | -4% |
| Operating profit | $636M | +156% | -43% |
| Net earnings | $517M | +142% | -43% |
| Operating cash flow | $1.7B | +74% | +20% |
What changed
Revenue was $4.6B in Q4 2025, down 4% year over year and up 24% from the previous quarter.
Operating profit was $0.64B, a 13.9% margin (down 9.5 points year over year). Total costs grew 8% against a revenue fall of 4%. Net earnings were $0.52B, down 43% year over year. The effective tax rate was 17.4%.
Operating cash flow was $1.7B (up 20% year over year), 332% of net earnings. Working capital and other items added $1.2B.
Questions
What was Principal Financial Group's revenue in the fourth quarter 2025?
Principal Financial Group (PFG) reported revenue of $4.6B for the fourth quarter 2025 (Q4 2025), -4% from a year earlier and +24% from the quarter before.
Was Principal Financial Group profitable in the fourth quarter 2025?
Operating profit was $636M (13.9% of revenue) and net earnings $517M.