Globe Life vs Principal Financial Group
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The short version
- Principal Financial Group is the larger business, with $15.6B of revenue in fiscal 2025 against $6.0B for Globe Life, about 2.6 times as much.
- Globe Life grew revenue faster (3.7%, against −3.1%).
- Investors pay more for each dollar of Principal Financial Group’s earnings: a P/E of 15.6x against 10.3x for Globe Life.
| Latest fiscal year | GL · FY25 | PFG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $12.2B | $23.9B |
| Revenue | $6.0B | $15.6B |
| Free cash flow | $1.3B | — |
| Net income | $1.2B | $1.2B |
| Growth | ||
| Revenue growth | 3.7% | −3.1% |
| 5-year growth | 4.8% | 1.2% |
| Share count change | −8.0% | −4.1% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 19.4% | 7.6% |
| FCF margin | 20.9% | — |
| Return on capital | 16.0% | — |
| Return on equity | 20.6% | — |
| Balance sheet | ||
| Net debt | $2.2B | −$434M |
| Net debt / EBITDA | 1.4x | −0.2x |
| Dividends and buybacks | $967M | $1.6B |
| Valuation & quality | ||
| P/E | 10.3x | 15.6x |
| Piotroski F-score | — | — |
Revenue
FY16
GL $3.9B
PFG $12.4B
FY17
GL $4.2B
PFG $14.1B
FY18
GL $4.3B
PFG $14.2B
FY19
GL $4.5B
PFG $16.2B
FY20
GL $4.7B
PFG $14.7B
FY21
GL $5.1B
PFG $14.4B
FY22
GL $5.2B
PFG $17.5B
FY23
GL $5.4B
PFG $13.7B
FY24
GL $5.8B
PFG $16.1B
FY25
GL $6.0B
PFG $15.6B
GL
PFG
Operating margin
FY16
GL 20.0%
PFG —
FY17
GL 19.8%
PFG —
FY18
GL 20.2%
PFG —
FY19
GL 20.3%
PFG —
FY20
GL 19.1%
PFG —
FY21
GL 24.0%
PFG —
FY22
GL 22.7%
PFG —
FY23
GL 23.2%
PFG —
FY24
GL —
PFG —
FY25
GL —
PFG —
GL
PFG
Free cash flow
FY16
GL $1.4B
PFG —
FY17
GL $1.4B
PFG —
FY18
GL $1.2B
PFG —
FY19
GL $1.3B
PFG —
FY20
GL $1.4B
PFG —
FY21
GL $1.4B
PFG —
FY22
GL $1.4B
PFG —
FY23
GL $1.4B
PFG —
FY24
GL $1.3B
PFG —
FY25
GL $1.3B
PFG —
GL
PFG
Return on capital
FY16
GL 10.0%
PFG —
FY17
GL 12.4%
PFG —
FY18
GL 9.9%
PFG —
FY19
GL 9.6%
PFG —
FY20
GL 7.7%
PFG —
FY21
GL 13.7%
PFG —
FY22
GL 19.3%
PFG —
FY23
GL 16.6%
PFG —
FY24
GL 16.5%
PFG —
FY25
GL 16.0%
PFG —
GL
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.