Principal Financial (PFG) Operating Expenses (2009 - 2026)
Principal Financial (PFG) reported Operating Expenses of $3.0 billion for Q1 2026, down 16.9% year-over-year from $3.7 billion in Q1 2025, and down 22.68% quarter-over-quarter from $3.9 billion in Q4 2025.
Principal Financial (PFG) Operating Expenses (2009 - 2026) Analysis & Trends
Principal Financial (PFG) has 18 years of Operating Expenses data on file, last reported at $3.0 billion in Q1 2026.
- Operating Expenses for Q1 2026 came in at $3.0 billion, down 16.9% year-over-year; the trailing twelve-month figure through Mar 2026 was $13.6 billion (up 2554.26% YoY), and the FY2025 annual result was $14.2 billion, up 5139.49% from the prior year.
- Operating Expenses declined to $3.0 billion in Q1 2026 per PFG's latest filing, from $3.9 billion in the prior quarter.
- Over five years, Operating Expenses peaked at $3.9 billion in Q4 2025 and troughed at -$10.3 billion in Q4 2024.
- A 5-year average of $1.8 billion and a median of $3.1 billion in 2023 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2023 and 2024: Operating Expenses jumped 146.0% in 2023, then tumbled 371.91% in 2024.
- A 5-year view of Operating Expenses shows it stood at -$8.3 billion in 2022, then surged by 146.0% to $3.8 billion in 2023, then sank by 371.91% to -$10.3 billion in 2024, then jumped by 138.16% to $3.9 billion in 2025, then fell by 22.68% to $3.0 billion in 2026.
- Business Quant data shows PFG's Operating Expenses at $3.0 billion in Q1 2026, $3.9 billion in Q4 2025, and $3.4 billion in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 163.18 Bn | 153.56 Bn | - | 3.88 Bn |
| 2 | Blackstone | 96.85 Bn | 95.80 Bn | - | 2.26 Bn |
| 3 | Kkr | 86.45 Bn | 133.96 Bn | - | 3.87 Bn |
| 4 | Apollo Global Management | 82.30 Bn | 101.04 Bn | 5.04 Bn | 4.68 Bn |
| 5 | State Street | 46.95 Bn | 21.27 Bn | - | 2.81 Bn |
| 6 | Ameriprise Financial | 43.65 Bn | 43.52 Bn | 4.57 Bn | 3.67 Bn |
| 7 | Northern Trust | 31.92 Bn | 31.92 Bn | - | 1.51 Bn |
| 8 | Raymond James Financial | 30.62 Bn | 19.37 Bn | - | 3.12 Bn |
| 9 | Ares Management | 29.04 Bn | 32.41 Bn | - | 1.17 Bn |
| 10 | Principal Financial | 23.79 Bn | 20.28 Bn | -463.00 Mn | 3.05 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 3.05 Bn |
| Dec 31, 2025 | 3.94 Bn |
| Sep 30, 2025 | 3.43 Bn |
| Jun 30, 2025 | 3.17 Bn |
| Mar 31, 2025 | 3.67 Bn |
| Dec 31, 2024 | -10.33 Bn |
| Sep 30, 2024 | 3.31 Bn |
| Jun 30, 2024 | 3.87 Bn |
| Mar 31, 2024 | 3.43 Bn |
| Dec 31, 2023 | 3.80 Bn |
| Sep 30, 2023 | 2.99 Bn |
| Jun 30, 2023 | 3.10 Bn |
| Mar 31, 2023 | 3.03 Bn |
| Dec 31, 2022 | -8.26 Bn |
| Sep 30, 2022 | 2.98 Bn |
| Jun 30, 2022 | 2.69 Bn |
| Mar 31, 2022 | 2.72 Bn |
| Dec 31, 2021 | 3.82 Bn |
| Sep 30, 2021 | 3.00 Bn |
| Jun 30, 2021 | 3.11 Bn |