Principal Financial Group, Inc. (PFG) Revenue by Segment

Principal Financial revenue by segment at a glance

In Q1 fiscal 2026 (the quarter ended March 31, 2026), Principal Financial's largest business segment was Retirement and Income Solutions, with $1.52 billion or 44% of revenue, down 26.8% from a year earlier. Next: Benefits and Protection (36%) and Principal Asset Management (20%).

The fastest-growing business segment from a year earlier was Benefits and Protection (+3.3%).

From company filings, in USD; latest quarter ended March 31, 2026; quarterly data from Q3 fiscal 2017.

Principal Financial Group, Inc.

PFGFinancial Services

United States

Financial Services

Revenue breakdown

Fiscal quarters, from company filings

Segments by quarter (USD)

Click a bar to see that period below. Striped bars are calculated fourth quarters; an empty slot means it could not be calculated on the same basis i

Retirement and Income SolutionsBenefits and ProtectionU.S. Insurance SolutionsRetirement and Income SolutionsPrincipal Asset ManagementPrincipal Global InvestorsPrincipal InternationalPrincipal InternationalOther

Q2 FY26 breakdown

Fiscal quarter ended Jun 30, 2026 · calculated (full year minus the other periods)

Item	Revenue	Share	vs year before	Trend
Benefits and Protectioncalc	USD 982.50M	66.8%	-21.2%
Retirement and Income Solutions	USD 487.90M	33.2%	-71.6%

Sum of items USD 1.47B. Shares are of the items shown. Click an item with › to see its parts.

Also reported by:

All periods

Every item and period in one grid. Purple = calculated; "–" = not available.

Item	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24	Q1 FY24	Q4 FY23	Q3 FY23	Q2 FY23	Q1 FY23	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18	Q3 FY18	Q2 FY18	Q1 FY18	Q4 FY17	Q3 FY17
Retirement and Income Solutions	487.9M	1.5B	884.7M	1.9B	1.7B	2.1B	804.5M	471.7M	999.5M	765.6M	–	561.0M	619.3M	582.7M	762.1M	607.3M	467.0M	123.3M	–	482.1M	666.6M	105.3M	719.9M	1.6B	460.4M	1.5B	1.2B	610.7M	2.2B	958.6M	579.8M	–	–	–	–	–
Benefits and Protection	982.5M	1.3B	162.3M	1.3B	1.2B	1.2B	153.6M	942.1M	925.4M	921.8M	–	899.4M	868.5M	864.4M	–	846.7M	870.4M	754.4M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
U.S. Insurance Solutions	–	–	–	–	–	–	–	–	–	–	–	–	–	–	835.5M	–	–	–	–	711.8M	244.2M	702.5M	662.7M	1.1B	664.1M	683.1M	652.4M	221.0M	1.1B	648.8M	207.0M	1.0B	1.0B	1.0B	–	985.5M
Retirement and Income Solutions	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	2.4B	1.4B	1.2B	–	2.4B
Principal Asset Management	–	683.3M	149.7M	727.1M	703.4M	686.8M	163.4M	–	–	–	–	–	8.5M	–	–	33.8M	30.1M	10.3M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Principal Global Investors	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	632.8M	379.6M	368.5M	–	367.5M
Principal International	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	36.6M	136.7M	27.3M	26.4M	225.3M	28.6M	85.0M	50.5M	172.4M	411.6M	117.5M	134.0M	–	–	–	–	–
Principal International	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	287.4M	389.6M	383.1M	–	274.7M
Principal Global Investors	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	382.8M	–	–	–	2.0M	359.5M	–	1.7M	–	–	–	–	–
Corporate	–	59.8M	–	–	–	37.1M	–	–	–	–	–	–	- 1.2M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	- 15.8M	–	–	–	–	–	–	–

Principal Financial revenue by business segment, last 4 quarters

Business segment	Q1 FY26	Q3 FY25	Q2 FY25	Q1 FY25	Share
Retirement and Income Solutions	$1.5B	$1.9B	$1.7B	$2.1B	44%
Benefits and Protection	$1.3B	$1.3B	$1.2B	$1.2B	36%
Principal Asset Management	$683.3M	$727.1M	$703.4M	$686.8M	20%

In USD, fiscal quarters as reported; share = part of Q1 FY26 revenue.

Questions and answers

What are Principal Financial's business segments?

Retirement and Income Solutions, Benefits and Protection and Principal Asset Management (as reported for Q1 fiscal 2026).

Which business segment makes the most money for Principal Financial?

Retirement and Income Solutions: $1.52 billion, or 44% of revenue, in Q1 fiscal 2026.

MorePrincipal Financial stock overview Principal Financial financials Principal Financial executive team Principal Financial shareholders

Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.