Principal Financial Group annual debt-to-equity ratio
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2025
Principal Financial Group Debt-to-Equity Ratio Growth & History (PFG)
Principal Financial Group's debt-to-equity ratio was 0.35 for fiscal 2025.
View full Principal Financial Group company overviewPrincipal Financial Group annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.35 | −0.04 | −11.17% |
| 2024 | 2024-12-31 | 0.39 | 0.00 | +0.44% |
| 2023 | 2023-12-31 | 0.39 | −0.05 | −11.01% |
| 2022 | 2022-12-31 | 0.44 | 0.15 | +50.45% |
| 2021 | 2021-12-31 | 0.29 | 0.01 | +3.47% |
| 2020 | 2020-12-31 | 0.28 | 0.00 | +1.09% |
| 2019 | 2019-12-31 | 0.28 | −0.01 | −4.29% |
| 2018 | 2018-12-31 | 0.29 | 0.04 | +15.78% |
| 2017 | 2017-12-31 | 0.25 | −0.06 | −19.38% |
| 2016 | 2016-12-31 | 0.31 | −0.06 | −16.07% |
| 2015 | 2015-12-31 | 0.37 | 0.12 | +47.28% |
| 2014 | 2014-12-31 | 0.25 | −0.03 | −11.57% |
| 2013 | 2013-12-31 | 0.28 | 0.00 | +1.46% |
| 2012 | 2012-12-31 | 0.28 | 0.09 | +51.24% |
| 2011 | 2011-12-31 | 0.19 | 0.01 | +6.49% |
| 2010 | 2010-12-31 | 0.17 | −0.04 | −18.60% |
| 2009 | 2009-12-31 | 0.21 | −0.51 | −70.51% |
| 2008 | 2008-12-31 | 0.72 | — | — |
Principal Financial Group quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.36 | 0.01 | +3.38% |
| Q1 2026 | 2026-03-31 | 0.33 | −0.05 | −13.89% |
| Q4 2025 | 2025-12-31 | 0.35 | −0.04 | −11.17% |
| Q3 2025 | 2025-09-30 | 0.34 | −0.02 | −4.46% |
| Q2 2025 | 2025-06-30 | 0.35 | −0.02 | −4.37% |
| Q1 2025 | 2025-03-31 | 0.39 | 0.03 | +8.94% |
| Q4 2024 | 2024-12-31 | 0.39 | 0.00 | +0.44% |
| Q3 2024 | 2024-09-30 | 0.35 | −0.02 | −4.65% |
| Q2 2024 | 2024-06-30 | 0.36 | −0.03 | −6.94% |
| Q1 2024 | 2024-03-31 | 0.36 | −0.11 | −22.81% |
| Q4 2023 | 2023-12-31 | 0.39 | −0.05 | −11.01% |
| Q3 2023 | 2023-09-30 | 0.37 | −0.06 | −13.53% |
| Q2 2023 | 2023-06-30 | 0.39 | −0.01 | −1.37% |
| Q1 2023 | 2023-03-31 | 0.46 | 0.08 | +20.35% |
| Q4 2022 | 2022-12-31 | 0.44 | 0.15 | +50.45% |
| Q3 2022 | 2022-09-30 | 0.43 | 0.16 | +58.15% |
| Q2 2022 | 2022-06-30 | 0.39 | 0.13 | +46.59% |
| Q1 2022 | 2022-03-31 | 0.38 | 0.10 | +35.31% |
| Q4 2021 | 2021-12-31 | 0.29 | 0.01 | +3.47% |
| Q3 2021 | 2021-09-30 | 0.27 | −0.01 | −2.65% |
| Q2 2021 | 2021-06-30 | 0.27 | −0.01 | −3.39% |
| Q1 2021 | 2021-03-31 | 0.28 | −0.01 | −3.17% |
| Q4 2020 | 2020-12-31 | 0.28 | 0.00 | +1.09% |
| Q3 2020 | 2020-09-30 | 0.28 | 0.00 | +0.68% |
| Q2 2020 | 2020-06-30 | 0.28 | −0.01 | −4.24% |
| Q1 2020 | 2020-03-31 | 0.29 | 0.02 | +5.63% |
| Q4 2019 | 2019-12-31 | 0.28 | −0.01 | −4.29% |
| Q3 2019 | 2019-09-30 | 0.28 | −0.00 | −1.44% |
| Q2 2019 | 2019-06-30 | 0.29 | 0.01 | +2.94% |
| Q1 2019 | 2019-03-31 | 0.28 | 0.01 | +3.06% |
| Q4 2018 | 2018-12-31 | 0.29 | 0.04 | +15.78% |
| Q3 2018 | 2018-09-30 | 0.28 | 0.01 | +4.03% |
| Q2 2018 | 2018-06-30 | 0.28 | −0.00 | −0.55% |
| Q1 2018 | 2018-03-31 | 0.27 | −0.03 | −10.46% |
| Q4 2017 | 2017-12-31 | 0.25 | −0.06 | −19.38% |
| Q3 2017 | 2017-09-30 | 0.27 | −0.04 | −12.29% |
| Q2 2017 | 2017-06-30 | 0.28 | −0.03 | −9.62% |
| Q1 2017 | 2017-03-31 | 0.30 | −0.04 | −11.16% |
| Q4 2016 | 2016-12-31 | 0.31 | −0.06 | −16.07% |
| Q3 2016 | 2016-09-30 | 0.31 | −0.06 | −15.70% |
| Q2 2016 | 2016-06-30 | 0.31 | −0.03 | −8.96% |
| Q1 2016 | 2016-03-31 | 0.34 | 0.09 | +38.50% |
| Q4 2015 | 2015-12-31 | 0.37 | 0.12 | +47.28% |
| Q3 2015 | 2015-09-30 | 0.36 | 0.11 | +41.65% |
| Q2 2015 | 2015-06-30 | 0.34 | 0.09 | +33.93% |
| Q1 2015 | 2015-03-31 | 0.24 | −0.02 | −8.59% |
| Q4 2014 | 2014-12-31 | 0.25 | −0.03 | −11.57% |
| Q3 2014 | 2014-09-30 | 0.26 | −0.04 | −13.74% |
| Q2 2014 | 2014-06-30 | 0.26 | −0.04 | −13.02% |
| Q1 2014 | 2014-03-31 | 0.27 | −0.02 | −8.56% |
| Q4 2013 | 2013-12-31 | 0.28 | 0.00 | +1.46% |
| Q3 2013 | 2013-09-30 | 0.30 | 0.07 | +32.79% |
| Q2 2013 | 2013-06-30 | 0.30 | 0.10 | +51.60% |
| Q1 2013 | 2013-03-31 | 0.29 | 0.11 | +63.42% |
| Q4 2012 | 2012-12-31 | 0.28 | 0.09 | +51.24% |
| Q3 2012 | 2012-09-30 | 0.22 | 0.06 | +36.41% |
| Q2 2012 | 2012-06-30 | 0.20 | 0.03 | +20.18% |
| Q1 2012 | 2012-03-31 | 0.18 | 0.01 | +7.84% |
| Q4 2011 | 2011-12-31 | 0.19 | 0.01 | +6.49% |
| Q3 2011 | 2011-09-30 | 0.16 | −0.01 | −4.90% |
| Q2 2011 | 2011-06-30 | 0.16 | −0.03 | −14.61% |
| Q1 2011 | 2011-03-31 | 0.17 | −0.03 | −17.16% |
| Q4 2010 | 2010-12-31 | 0.17 | −0.04 | −18.60% |
| Q3 2010 | 2010-09-30 | 0.17 | −0.05 | −23.18% |
| Q2 2010 | 2010-06-30 | 0.19 | −0.19 | −50.59% |
| Q1 2010 | 2010-03-31 | 0.20 | — | — |
| Q4 2009 | 2009-12-31 | 0.21 | −0.51 | −70.51% |
| Q3 2009 | 2009-09-30 | 0.23 | — | — |
| Q2 2009 | 2009-06-30 | 0.39 | — | — |
| Q4 2008 | 2008-12-31 | 0.72 | — | — |
Principal Financial Group debt-to-equity ratio trends
Over the last five fiscal years, Principal Financial Group's debt-to-equity ratio increased from 0.28 to 0.35, a change of 0.07. The latest reported quarter, Q2 2026, shows 0.36.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Principal Financial Group source filings ↗