PFG FY 2018 Earnings Report — Principal Financial Group, Inc. Revenue & Financial Results | Market Cap Arena

Principal Financial Group, Inc.PFG

FY 2018 Earnings

Reported February 13, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$14.2B	—	$14.1B	—	1.0%
Op. Income	$1.8B	—	$2.3B	—	-20.8%
Gross Margin	42.5%	—	44.5%	—	-2.0pp
Net Margin	10.9%	—	16.4%	—	-5.5pp
EPS (Diluted)	$5.35	—	$7.88	—	-32.1%
Free Cash Flow	$5.1B	—	$4.0B	—	25.9%

Revenue Flow

Item	Amount
REVENUE	$14.2B
Cost of Revenue	$8.2B
GROSS PROFIT	$6.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$4.1B
SG&A Expenses	$4.1B
Other Expenses	$124M
Operating Expenses	$4.3B
Cost & Expenses	$12.5B
OPERATING INCOME	$1.8B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.8B
Income Tax Expense	$231M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.5B
D&A	$205M
EBIT	$1.8B
EBITDA	$2.0B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$14.2B
Cost of Revenue	$8.2B
GROSS PROFIT	$6.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$4.1B
SG&A Expenses	$4.1B
Other Expenses	$124M
Operating Expenses	$4.3B
Cost & Expenses	$12.5B
OPERATING INCOME	$1.8B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.8B
Income Tax Expense	$231M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.5B
D&A	$205M
EBIT	$1.8B
EBITDA	$2.0B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$1.6B
Depreciation & Amortization	$205M
Stock-Based Compensation	$77M
Deferred Income Tax	$277M
Other Non-Cash Items	-$435M
Change in Working Capital	$3.5B
OPERATING CASH FLOW	$5.2B
Capital Expenditure	-$92M
Acquisitions (Net)	-$185M
Purchases of Investments	-$14.2B
Sales/Maturities of Investments	$10.0B
Other Investing Activities	-$1.2B
NET CASH FROM INVESTING	-$5.7B
Net Debt Issuance	$88M
Common Stock Repurchased	-$672M
Common Dividends Paid	-$599M
Other Financing Activities	$2.2B
NET CASH FROM FINANCING	$1.1B
FREE CASH FLOW	$5.1B
Net Change in Cash	$507M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.0B
Short-Term Investments	$60.1B
Net Receivables	$1.4B
Inventory	-$8.0B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$64.5B
PP&E (Net)	$767M
Goodwill	$1.1B
Intangible Assets	$1.3B
Long-Term Investments	$62.6B
Tax Assets	$958M
Other Non-Current Assets	-$958M
TOTAL NON-CURRENT ASSETS	$65.8B
TOTAL ASSETS	$243.0B
Account Payables	$0
Short-Term Debt	$43M
Deferred Revenue	$0
Other Current Liabilities	-$68M
TOTAL CURRENT LIABILITIES	$43M
Long-Term Debt	$3.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$958M
Other Non-Current Liabilities	$226.9B
TOTAL NON-CURRENT LIABILITIES	$4.2B
TOTAL LIABILITIES	$231.2B
Common Stock	$5M
Additional Paid-In Capital	$10.1B
Retained Earnings	$10.3B
Treasury Stock	-$7.4B
Accum. Other Comp. Income	-$1.6B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$11.4B
Minority Interest	$457M
TOTAL EQUITY	$11.8B
TOTAL LIABILITIES & EQUITY	$243.0B
Total Debt	$3.3B
Net Debt	$325M