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% on a QoQ basis from $3.9 billion in Q4 2025.
Principal Financial (PFG) has 18 years of Operating Expenses data on file, last reported at $3.0 billion in Q1 2026.
- Quarterly Operating Expenses fell 16.9% year-over-year to $3.0 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $13.6 billion (up 2554.26% YoY) and the FY2025 annual result came in at $14.2 billion, up 5139.49% from the prior year.
- Operating Expenses fell to $3.0 billion in Q1 2026 per PFG's latest filing, from $3.9 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $3.9 billion in Q4 2025 and bottomed at -$10.3 billion in Q4 2024.
- The 5-year median for Operating Expenses is $3.1 billion (2023), against an average of $1.8 billion.
- The widest annual swing landed in 2023, when Operating Expenses surged 146.0%; it then sank 371.91% in 2024.
- Tracing PFG's Operating Expenses over 5 years: stood at -$8.3 billion in 2022, then soared by 146.0% to $3.8 billion in 2023, then tumbled by 371.91% to -$10.3 billion in 2024, then surged by 138.16% to $3.9 billion in 2025, then dropped by 22.68% to $3.0 billion in 2026.
- Per Business Quant, the three latest PFG Operating Expenses figures stand at $3.0 billion (Q1 2026), $3.9 billion (Q4 2025), and $3.4 billion (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 158.51 Bn | 148.89 Bn | - | 3.88 Bn |
| 2 | Blackstone | 92.68 Bn | 91.63 Bn | - | 2.26 Bn |
| 3 | Kkr | 84.94 Bn | 132.45 Bn | - | 3.87 Bn |
| 4 | Brookfield Asset Management | 77.34 Bn | 77.68 Bn | - | 733.00 Mn |
| 5 | Apollo Global Management | 76.27 Bn | 95.00 Bn | 5.04 Bn | 4.68 Bn |
| 6 | State Street | 44.42 Bn | 18.75 Bn | - | 2.81 Bn |
| 7 | Ameriprise Financial | 41.68 Bn | 41.55 Bn | 4.57 Bn | 3.67 Bn |
| 8 | Northern Trust | 31.21 Bn | 31.21 Bn | - | 1.51 Bn |
| 9 | Ares Management | 28.85 Bn | 32.22 Bn | - | 1.17 Bn |
| 10 | Principal Financial | 22.35 Bn | 18.84 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 |
| Mar 31, 2021 | 2.59 Bn |
| Dec 31, 2020 | 3.17 Bn |
| Sep 30, 2020 | 3.04 Bn |
| Jun 30, 2020 | 2.62 Bn |
| Mar 31, 2020 | 4.22 Bn |
| Dec 31, 2019 | 3.68 Bn |
| Sep 30, 2019 | 4.11 Bn |
| Jun 30, 2019 | 3.52 Bn |
| Mar 31, 2019 | 3.22 Bn |
| Dec 31, 2018 | 3.53 Bn |
| Sep 30, 2018 | 3.78 Bn |
| Jun 30, 2018 | 2.72 Bn |
| Mar 31, 2018 | 2.43 Bn |
| Dec 31, 2017 | 2.92 Bn |
| Sep 30, 2017 | 3.47 Bn |
| Jun 30, 2017 | 2.81 Bn |
| Mar 31, 2017 | 2.64 Bn |
| Dec 31, 2016 | 3.13 Bn |
| Sep 30, 2016 | 2.45 Bn |
| Jun 30, 2016 | 2.63 Bn |
| Mar 31, 2016 | 2.60 Bn |
| Dec 31, 2015 | 2.50 Bn |
| Sep 30, 2015 | 2.87 Bn |
| Jun 30, 2015 | 2.96 Bn |
| Mar 31, 2015 | 2.20 Bn |
| Dec 31, 2014 | 2.59 Bn |
| Sep 30, 2014 | 2.09 Bn |
| Jun 30, 2014 | 2.20 Bn |
| Mar 31, 2014 | 2.10 Bn |
| Dec 31, 2013 | 2.36 Bn |
| Sep 30, 2013 | 1.92 Bn |
| Jun 30, 2013 | 1.95 Bn |
| Mar 31, 2013 | 1.94 Bn |
| Dec 31, 2012 | 2.04 Bn |
| Sep 30, 2012 | 2.51 Bn |
| Jun 30, 2012 | 1.89 Bn |
| Mar 31, 2012 | 1.82 Bn |
| Dec 31, 2011 | 1.89 Bn |
| Sep 30, 2011 | 1.94 Bn |
| Jun 30, 2011 | 1.99 Bn |
| Mar 31, 2011 | 1.96 Bn |
| Dec 31, 2010 | 2.11 Bn |
| Sep 30, 2010 | 2.13 Bn |
| Jun 30, 2010 | 2.08 Bn |
| Mar 31, 2010 | 2.01 Bn |
| Dec 31, 2009 | 2.06 Bn |
| Sep 30, 2009 | 2.02 Bn |
| Jun 30, 2009 | 1.96 Bn |
| Mar 31, 2009 | 2.06 Bn |