PRI

MKT CAP:$9B

Primerica, Inc.

Market Cap

$9B

Financial Services·Insurance - Life·🇺🇸 United States·NYSE

Financials·Insurance - Life·🇺🇸·NYSE

Stock Price

$273.47+$14.74 (+5.70%)

Apr 20, 2026

Company Details

Primerica, Inc., together with its subsidiaries, provides financial products to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior He...

CEO

Glenn Jackson Williams

IPO Date

Apr 1, 2010

Website

www.primerica.com

Key Metrics TTM

Revenue

$3.3B

+6.1% YoY

Net Income

$751M

EPS (Diluted)

$22.93

Free Cash Flow

$889M

Revenue / Share

$102.28

Gross Margin

51.8%

Operating Margin

29.7%

Net Margin

22.9%

FCF Margin

27.1%

P/S

2.7x

P/E

11.9x

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Feb 27, 2026

$3.2B+4.4%EPS $22.91

Q4 2025

Feb 27, 2026

$838M+6.4%EPS $6.13

Q3 2025

Nov 6, 2025

$840M+8.5%EPS $6.35

Q2 2025

Aug 7, 2025

$793M+0.3%EPS $5.40

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$655M	$243M	$169M
Q2 22	$669M	$249M	$163M
Q3 22	$673M	$262M	$121M
Q4 22	$687M	$255M	$168M
Q1 23	$690M	$263M	$167M
Q2 23	$688M	$279M	$189M
Q3 23	$697M	$284M	$206M
Q4 23	$726M	$288M	$197M
Q1 24	$736M	$294M	$193M
Q2 24	$791M	$359M	$273M
Q3 24	$774M	$344M	$255M
Q4 24	$788M	$311M	$219M
Q1 25	$805M	$326M	$221M
Q2 25	$793M	$330M	$234M
Q3 25	$840M	$365M	$272M
Q4 25	$838M	$677M	$247M

Valuation

Quarter	P/S	P/E
Q2 21	3.6x	20.3x
Q2 22	3.5x	19.6x
Q3 22	3.4x	20.5x
Q4 22	3.3x	19.1x
Q1 23	3.3x	19.1x
Q2 23	3.3x	18.4x
Q3 23	3.2x	16.0x
Q4 23	3.2x	15.4x
Q1 24	3.1x	15.2x
Q2 24	3.0x	20.1x
Q3 24	2.9x	19.6x
Q4 24	2.9x	18.9x
Q1 25	2.8x	17.8x
Q2 25	2.8x	13.1x
Q3 25	2.8x	12.4x
Q4 25	2.7x	11.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	$155M	$153M
Q2 22	$170M	$163M
Q3 22	$167M	$157M
Q4 22	$206M	$205M
Q1 23	$176M	$168M
Q2 23	$136M	$133M
Q3 23	$140M	$136M
Q4 23	$241M	$221M
Q1 24	$211M	$203M
Q2 24	$173M	$169M
Q3 24	$207M	$193M
Q4 24	$271M	$268M
Q1 25	$197M	$189M
Q2 25	$163M	$159M
Q3 25	$203M	$215M
Q4 25	$334M	$326M

Capital Expenditures

Quarter	CapEx
Q2 21	$2M
Q2 22	$7M
Q3 22	$10M
Q4 22	$2M
Q1 23	$8M
Q2 23	$2M
Q3 23	$3M
Q4 23	$20M
Q1 24	$8M
Q2 24	$4M
Q3 24	$14M
Q4 24	$3M
Q1 25	$9M
Q2 25	$4M
Q3 25	$12M
Q4 25	$9M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	+24.5%	+23.9%
Q2 22	+17.6%	+19.9%
Q3 22	+12.5%	+18.3%
Q4 22	+7.7%	+2.0%
Q1 23	+5.4%	+7.8%
Q2 23	+2.9%	-1.3%
Q3 23	+3.6%	-11.1%
Q4 23	+5.7%	+1.9%
Q1 24	+6.7%	+3.7%
Q2 24	+14.9%	+3.7%
Q3 24	+11.0%	+5.8%
Q4 24	+8.5%	+7.6%
Q1 25	+9.4%	+7.6%
Q2 25	+0.3%	+7.8%
Q3 25	+8.5%	+9.3%
Q4 25	+6.4%	+3.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$3M	0.4%
Q2 22	$6M	0.9%
Q3 22	$1M	0.2%
Q4 22	$3M	0.4%
Q1 23	$12M	1.8%
Q2 23	$2M	0.4%
Q3 23	$2M	0.3%
Q4 23	$2M	0.3%
Q1 24	$13M	1.7%
Q2 24	$3M	0.4%
Q3 24	$4M	0.5%
Q4 24	$6M	0.7%
Q1 25	$13M	1.6%
Q2 25	$2M	0.3%
Q3 25	$4M	0.5%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q3 25	$64M	$175M
Q4 25	$70M	$188M

Revenue Segments

Quarter	Corporate And Other	Investment And Savings Products Segment Revenues	Term Life Insurance Segment Revenues	Senior Health Segment Revenues	Corporate and Other
Q2 21	$33M	$238M	$384M	—	—
Q2 22	$24M	$222M	$411M	$12M	—
Q3 22	$27M	$202M	$428M	$17M	—
Q4 22	—	$198M	$430M	$28M	$31M
Q1 23	—	$210M	$421M	$19M	$40M
Q2 23	—	$215M	$412M	$15M	$47M
Q3 23	—	$219M	$429M	$13M	$50M
Q4 23	—	$222M	$431M	$20M	$53M
Q1 24	—	$244M	$440M	$8M	$52M
Q2 24	—	$261M	$427M	$12M	$103M
Q3 24	—	$266M	$450M	—	$58M
Q4 24	—	$286M	$451M	—	$51M
Q1 25	—	$291M	$458M	—	$56M
Q4 25	—	$340M	$457M	—	—

Revenue by Geography

Quarter	Canada	United States
Q2 21	$100M	$555M
Q2 22	$93M	$576M
Q3 22	$84M	$589M
Q4 22	$82M	$605M
Q1 23	$86M	$604M
Q2 23	$86M	$602M
Q3 23	$90M	$621M
Q4 23	$89M	$637M
Q1 24	$95M	$647M
Q2 24	$96M	$708M
Q3 24	$101M	$673M
Q4 24	$103M	$666M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$360M	$2.7B	$3.1B
Q2 22	$400M	$2.6B	$3.0B
Q3 22	$438M	$2.5B	$2.9B
Q4 22	$489M	$2.6B	$3.1B
Q1 23	$515M	$2.6B	$3.1B
Q2 23	$562M	$891M	$1.5B
Q3 23	$469M	$965M	$1.4B
Q4 23	$594M	$276.0K	$594M
Q1 24	$593M	$1.0B	$1.6B
Q2 24	$627M	$964M	$1.6B
Q3 24	$550M	$3.0B	$3.5B
Q4 24	$688M	$995M	$1.7B
Q1 25	$625M	$1.1B	$1.7B
Q2 25	$621M	$1.1B	$1.7B
Q3 25	$645M	$1.1B	$1.7B
Q4 25	$756M	$3.3B	$4.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	40M	+0.2%	-1.5%
Q2 22	39M	-2.9%	-3.0%
Q3 22	38M	-2.5%	-5.1%
Q4 22	37M	-1.2%	-6.3%
Q1 23	37M	-0.7%	-7.2%
Q2 23	36M	-1.4%	-5.7%
Q3 23	36M	-1.3%	-4.6%
Q4 23	35M	-1.7%	-5.1%
Q1 24	35M	-0.8%	-5.1%
Q2 24	34M	-1.6%	-5.3%
Q3 24	34M	-1.4%	-5.4%
Q4 24	34M	+0.9%	-2.9%
Q1 25	33M	-2.5%	-4.6%
Q2 25	33M	-1.3%	-4.3%
Q3 25	32M	-1.4%	-4.2%
Q4 25	32M	-1.3%	-6.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	$333.0K	2K
Q2 22	$255.1K	3K
Q3 22	$256.9K	3K
Q4 22	$262.1K	3K
Q1 23	$263.3K	3K
Q2 23	$262.6K	3K
Q3 23	$266.1K	3K
Q4 23	$210.5K	3K
Q1 24	$213.3K	3K
Q2 24	$229.3K	3K
Q3 24	$224.4K	3K
Q4 24	$274.2K	3K
Q1 25	$280.0K	3K
Q2 25	$276.0K	3K
Q3 25	$292.2K	3K
Q4 25	$295.9K	3K

Revenue / Employee