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Prudential Financial (PRU) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Prudential Financial (PRU) Q3 2026 earnings results →

Q3 2026 Revenue down 19% year over year to $14.4B · 10¢ of every $1 of revenue kept as net profit · operating margin 11.4%

Prudential Financial made $14.4B in Q3 2026 (-19% Y/Y). Operating margin 11.4%, net earnings $1.4B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$14.4B
Year over year-19%
Operating margin11.4%
Net earnings$1.4B
Operating cash flow$3.9B

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Prudential Financial Q3 2026 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Prudential Financial Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $14.4B in Q3 2026, down 19% year over year and down 8% from the previous quarter.

Operating profit was $1.6B, a 11.4% margin (up 1.4 points year over year). Total costs fell 20% while revenue fell 19%. Net earnings were $1.4B, down 3% year over year. The effective tax rate was 15.7%.

Operating cash flow was $3.9B (down 8% year over year), 283% of net earnings. Working capital and other items added $2.5B.

Quarterly history

Prudential Financial revenue by quarterPrudential Financial revenue by quarter$13.5BQ1 2025$13.7BQ2 2025$17.9BQ3 2025$15.7BQ4 2025$15.5BQ1 2026$15.7BQ2 2026$14.4BQ3 2026
Prudential Financial net earnings by quarterPrudential Financial net earnings by quarter$707MQ1 2025$533MQ2 2025$1.4BQ3 2025$905MQ4 2025$597MQ1 2026$985MQ2 2026$1.4BQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 4, 2026$14.4B-19%11.4%$1.4B$3.9B
Q2 202610-QAug 5, 2026$15.7B+14%7.5%$985M$2.3B
Q1 202610-QMay 6, 2026$15.5B+15%4.7%$597M$1.0B
Q4 202510-KFeb 12, 2026$15.7B+25%7.7%$905M$3.3B
Q3 202510-QOct 30, 2025$17.9B-8%10.0%$1.4B$4.3B
Q2 202510-QJul 31, 2025$13.7B-8%5.4%$533M$1.2B
Q1 202510-QMay 1, 2025$13.5B-43%6.8%$707M−$2.5B

Charts

Prudential Financial: revenue growth, year over year and quarter over quarterPrudential Financial: revenue growth, year over year and quarter over quarterY/YQ/Q-43%Q1 2025-8%+2%Q2 2025-8%+30%Q3 2025+25%-12%Q4 2025+15%-1%Q1 2026+14%+1%Q2 2026-19%-8%Q3 2026
Latest (Q3 2026): Y/Y -19%, Q/Q -8%.
Prudential Financial: where the cash came from (+) and went (−), TTM to Q3 2026Prudential Financial: where the cash came from (+) and went (−), TTM to Q3 2026Other investing−$26.5BOther financing$20.1BOperating cash flow$10.6BDividends−$2.0BCash drawn (+) / kept (−)−$1.2BBuybacks−$1.0BExchange rates−$153MShares issued$117MNet borrowing (+) / repaid (−)−$40.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Prudential Financial: profit against cash, quarter by quarterPrudential Financial: profit against cash, quarter by quarterNet incomeOperating cash flow$73.0M$2.3BQ4 2024$742M−$2.5BQ1 2025$566M$1.2BQ2 2025$1.5B$4.3BQ3 2025$941M$3.3BQ4 2025$606M$1.0BQ1 2026$1.0B$2.3BQ2 2026$1.4B$3.9BQ3 2026
Latest (Q3 2026): Net income $1.4B, Operating cash flow $3.9B.
Prudential Financial: diluted shares by fiscal yearPrudential Financial: diluted shares by fiscal year396MFY2020390MFY2021372MFY2022365MFY2023359MFY2024354MFY2025
-10.6% since FY2020: buybacks shrank the count.
Prudential Financial: long-term debt falling due (FY2025)Prudential Financial: long-term debt falling due (FY2025)$63.0M2027$667M2028$95.0M2029$750M2030$17.3BLater
Cash $19.7B, short-term investments —, long-term debt — at 2025-12-31.
Prudential Financial in its industry: growth against margin (24 companies, SIC 6311)Prudential Financial in its industry: growth against margin (24 companies, SIC 6311)revenue growth, year over year →↑ operating marginmedian +5%median 16%METMetropolitan Life Insurance CoRGACRBGLNCLincoln National Life Insurance CoATH-PAVOYAGNWANG-PDGLJXNBrighthouse Life Insurance CoFGPRIBHFVoya Retirement Insurance & Annuity CoCIAAAMEFirst Trinity Financial CorpUTGNUS Alliance CorpTexas Republic Capital CorpPRU (-19%, 11%)
Life Insurance; dot size is quarterly revenue; dashed lines are the industry's medians.

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Prudential Financial

Prudential Financial, Inc. (“Prudential Financial” or “PFI”), a global financial services leader and premier active global investment manager with approximately $1.609 trillion of assets under management as of December 31, 2025, has operations in the United States, Asia, Europe and Latin America. Through our subsidiaries and affiliates we offer a wide array of financial products and services, including life insurance, annuities, retirement-related products and services, mutual funds and investment management. We offer these products and services to individual and institutional customers through proprietary and third-party distribution networks. Our principal executive offices are located in Newark, New Jersey, and Prudential Financial’s Common Stock is publicly traded on the New York Stock Exchange under the ticker symbol “PRU.”

In its own words, from its 10-K, filed Feb 12, 2026.

Prudential Financial against its Life Insurance peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -19% against the peers' median +8%. Operating margin: 11.4% against the peers' median 11.4%.

CompanyQuarterRevenueY/YOp. margin
PRU Prudential FinancialQ3 2026$14.4B-19%11.4%
MET MetlifeQ3 2026$20.5B+18%8.9%
Metropolitan Life InsuranceQ2 2026$9.6B+2%6.0%
RGA Reinsurance Group of AmericaQ3 2026$7.5B+22%8.3%
CRBG Corebridge FinancialQ3 2026$6.2B+14%37.7%
LNC Lincoln NationalQ3 2026$5.5B+20%31.7%
Lincoln National Life InsuranceQ2 2026$4.3B+8%25.2%
ATH-PA Athene HoldingQ3 2026$3.1B-62%-56.7%
VOYA Voya FinancialQ3 2026$2.0B-5%14.2%

Source: Prudential Financial 10-Q on SEC EDGAR · CIK 1137774 · Life Insurance

Guidance and outlook

Prudential Financial: what its forward-looking statements are about (10-Q filed 2026-11-04)Prudential Financial: what its forward-looking statements are about (10-Q filed 2026-11-04)Other15The economy6Financing5Demand4Buybacks & dividends4Costs2Legal & regulation2Margins1Deals1Supply chain1
41 statements; tone -0.10 (−1 all cautious, +1 all confident); 6 hedged.
Prudential Financial: outlook statements against the filing beforePrudential Financial: outlook statements against the filing beforeNew5Updated2Dropped2Confident8Cautious12

13F: who owns PRU and who is buying

Largest holders of PRU (13F)Largest holders of PRU (13F)Vanguard Group$4.8BBlackRock$3.5BVanguard Capital Management LLC$2.4BState Street$1.9BVanguard Portfolio Management LLC$1.8BGeode Capital Management, LLC$1.2BMorgan Stanley$635MInvesco$553MGoldman Sachs Group$526MNorthern Trust$447M
Funds' net buying of PRU by quarter (13F)Funds' net buying of PRU by quarter (13F)$18.0M2024-09−$105M2024-12−$93.2M2025-03−$75.8M2025-06−$43.9M2025-09$263M2025-12$302M2026-03$252M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on PRU

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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