Aflac vs Principal Financial Group
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The short version
- Aflac is the larger business, with $17.2B of revenue in fiscal 2025 against $15.6B for Principal Financial Group.
- Principal Financial Group grew revenue faster (β3.1%, against β9.3%).
- Investors pay more for each dollar of Principal Financial Groupβs earnings: a P/E of 15.6x against 13.0x for Aflac.
| Latest fiscal year | AFL Β· FY25 | PFG Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $60.9B | $23.9B |
| Revenue | $17.2B | $15.6B |
| Free cash flow | β | β |
| Net income | $3.6B | $1.2B |
| Growth | ||
| Revenue growth | β9.3% | β3.1% |
| 5-year growth | β5.0% | 1.2% |
| Share count change | β5.3% | β4.1% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 21.2% | 7.6% |
| FCF margin | β | β |
| Return on capital | 13.0% | β |
| Return on equity | 13.1% | β |
| Balance sheet | ||
| Net debt | $2.1B | β$434M |
| Net debt / EBITDA | 0.4x | β0.2x |
| Dividends and buybacks | $4.7B | $1.6B |
| Valuation & quality | ||
| P/E | 13.0x | 15.6x |
| Piotroski F-score | β | β |
Revenue
FY16
AFL $22.6B
PFG $12.4B
FY17
AFL $21.7B
PFG $14.1B
FY18
AFL $21.8B
PFG $14.2B
FY19
AFL $22.3B
PFG $16.2B
FY20
AFL $22.1B
PFG $14.7B
FY21
AFL $21.6B
PFG $14.4B
FY22
AFL $19.1B
PFG $17.5B
FY23
AFL $18.7B
PFG $13.7B
FY24
AFL $18.9B
PFG $16.1B
FY25
AFL $17.2B
PFG $15.6B
AFL
PFG
Operating margin
FY16
AFL 18.3%
PFG β
FY17
AFL 18.9%
PFG β
FY18
AFL 20.0%
PFG β
FY19
AFL 20.0%
PFG β
FY20
AFL 19.9%
PFG β
FY21
AFL 22.9%
PFG β
FY22
AFL 21.7%
PFG β
FY23
AFL β
PFG β
FY24
AFL β
PFG β
FY25
AFL β
PFG β
AFL
PFG
Free cash flow
FY16
AFL β
PFG β
FY17
AFL β
PFG β
FY18
AFL β
PFG β
FY19
AFL β
PFG β
FY20
AFL β
PFG β
FY21
AFL β
PFG β
FY22
AFL β
PFG β
FY23
AFL β
PFG β
FY24
AFL β
PFG β
FY25
AFL β
PFG β
AFL
PFG
Return on capital
FY16
AFL 13.7%
PFG β
FY17
AFL 17.3%
PFG β
FY18
AFL 12.5%
PFG β
FY19
AFL 12.0%
PFG β
FY20
AFL 13.3%
PFG β
FY21
AFL 14.3%
PFG β
FY22
AFL 17.4%
PFG β
FY23
AFL 20.0%
PFG β
FY24
AFL 21.5%
PFG β
FY25
AFL 13.0%
PFG β
AFL
PFG
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.