PFG Principal Financial Group margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 60

Gross margin

48.1%

Operating margin

14.7%

EBITDA margin

16.3%

Net margin

11.9%

Based on the latest figures, Principal Financial Group reports a gross margin of 48.1%, an operating margin of 14.7%, an EBITDA margin of 16.3%, and a net margin of 11.9%. The company's available margins all advanced, with EBITDA margin reporting the strongest expansion of 3.1 percentage points.

PFG margin history

Gross, operating, EBITDA and net margin trends

Looking back over the last 3 years, Principal Financial Group recorded average margins of 44.26% gross, 9.36% operating, 10.74% EBITDA, and 7.78% net. Compared with their three-year averages, all four current margins are higher.

PFG margin expansion

Year-over-year margin changes in percentage points

All available margins expanded year over year, led by EBITDA margin with an increase of 3.1 percentage points.

Gross margin expansion

1.8pp

Operating margin expansion

2.7pp

EBITDA margin expansion

3.1pp

Net margin expansion

1.9pp

PFG Gross margin

Over the last 3 years, Principal Financial Group's gross margin averaged 44.26%. Right now, Principal Financial Group's current gross margin is 48.1%, which is 3.8 percentage points above its three-year average. During this period, gross margin reached a high of 48.1% in Sep 2026 and a low of 35.3% in Sep 2024.

PFG Operating margin

Over the last 3 years, Principal Financial Group's operating margin averaged 9.36%. Currently, Principal Financial Group's current operating margin is 14.7%, which is 5.3 percentage points above its three-year average. During this period, operating margin reached a high of 14.7% in Sep 2026 and a low of -2.3% in Sep 2024.

PFG EBITDA margin

Principal Financial Group's EBITDA margin averaged 10.74% during the last 3 years. Compared with its three-year average, Principal Financial Group's current EBITDA margin is 16.3% and is 5.6 percentage points above its three-year average. Over the last 3 years, Principal Financial Group's EBITDA margin peaked at 16.3% in Sep 2026 and reached a low of -0.9% in Sep 2024.

PFG Net margin

Principal Financial Group's net margin averaged 7.78% during the last 3 years. Compared with its three-year average, Principal Financial Group's current net margin is 11.9% and is 4.1 percentage points above its three-year average. Over the last 3 years, Principal Financial Group's net margin peaked at 11.9% in Sep 2026 and reached a low of -1.5% in Sep 2024.

PFG margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 48.1%, PFG stands lower than the Financial Services sector and the industry average. Looking at the Financial Services sector average of 83.5%, Principal Financial Group's gross margin is 42% lower.

PFG margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Principal Financial Group's gross margin?

As of Sep 30, 2026, PFG has a gross margin of 48.1%.

What is Principal Financial Group's operating margin?

As of Sep 30, 2026, PFG has an operating margin of 14.7%.

What is Principal Financial Group's EBITDA margin?

As of Sep 30, 2026, PFG has an EBITDA margin of 16.3%.

What is Principal Financial Group's net margin?

The current net margin for PFG is 11.9% as of Sep 30, 2026.

What are the average margins of PFG?

Across the last 3 years, PFG averaged 44.3% gross, 9.4% operating, 10.7% EBITDA, and 7.8% net.

What are the highest historical margins of PFG?

Principal Financial Group's highest recorded margins during the past 5 years were 62.4% gross in Dec 2022, 34.5% operating in Sep 2022, 35.7% EBITDA in Sep 2022, and 27.4% net in Sep 2022.

What are the lowest historical margins of PFG?

Within the 5-year period, PFG recorded its lowest margins at 35.3% gross in Sep 2024, -2.3% operating in Sep 2024, -0.9% EBITDA in Sep 2024, and -1.5% net in Sep 2024.