Prudential Financial, Inc.

PRU · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001
Valuation
Market cap	$39,499	$42,188	$37,439	$36,601	$40,915	$29,510	$35,434	$30,826	$43,462	$39,335	$30,773	$41,222	$42,892	$23,802	$24,068	$27,406	$22,123	$13,003	$42,780	$41,573	$37,459	$28,612	$22,740	$18,300	$19,252
Enterprise value	$43,094	$52,372	$45,240	$47,951	$58,562	$29,742	$36,097	$30,202	$42,517	$46,757	$42,734	$54,518	$61,580	$35,101	$35,613	$40,639	$26,833	$23,595	$56,241	$51,909	$45,085	$26,966	$17,507	$11,899	$6,570
P/E (TTM) at period end	11.17×	15.65×	15.23×	–	4.68×	–	8.56×	7.66×	5.60×	9.11×	5.51×	27.83×	–	50.11×	7.08×	10.91×	7.08×	–	11.68×	12.13×	10.58×	12.68×	17.99×	94.33×	–
P/S (TTM) at period end	0.65×	0.60×	0.69×	0.64×	0.57×	0.52×	0.55×	0.49×	0.73×	0.67×	0.54×	0.76×	1.03×	0.28×	0.49×	0.72×	0.68×	0.45×	1.24×	1.29×	1.19×	1.03×	0.83×	0.70×	0.73×
P/B at period end	1.22×	1.51×	1.35×	1.20×	0.66×	0.44×	0.56×	0.63×	0.80×	0.86×	0.73×	0.99×	1.22×	0.62×	0.70×	0.85×	0.88×	0.97×	1.82×	1.82×	1.65×	1.28×	1.07×	0.86×	0.94×
EV / EBITDA (TTM)	9.01×	14.58×	15.07×	–	5.30×	221.96×	6.51×	6.05×	6.34×	7.76×	5.42×	22.81×	–	34.75×	6.78×	10.07×	15.54×	–	11.19×	10.94×	9.44×	7.09×	6.76×	18.56×	2.40×
EV / Sales (TTM)	0.71×	0.74×	0.84×	0.84×	0.82×	0.52×	0.56×	0.48×	0.71×	0.80×	0.75×	1.01×	1.49×	0.41×	0.73×	1.06×	0.83×	0.81×	1.64×	1.61×	1.44×	0.97×	0.64×	0.46×	0.25×
Returns
Return on equity	10.9%	9.7%	8.8%	(5.5%)	14.1%	(0.6%)	6.6%	8.3%	14.3%	9.4%	13.3%	3.5%	(2.1%)	1.2%	9.9%	7.7%	12.4%	(8.3%)	15.6%	15.0%	15.6%	10.1%	5.9%	0.9%	(0.8%)
Return on invested capital	10.0%	7.1%	6.9%	(3.9%)	18.8%	(0.3%)	6.0%	7.4%	10.8%	8.2%	10.6%	2.6%	(1.2%)	1.0%	7.6%	6.8%	4.2%	(2.1%)	8.1%	8.2%	10.1%	9.0%	5.3%	0.4%	13.6%
Dividend yield	4.9%	4.5%	4.9%	5.0%	4.4%	6.0%	4.6%	4.9%	3.0%	3.3%	3.6%	2.4%	1.9%	3.2%	2.9%	2.1%	1.6%	2.3%	1.2%	1.1%	1.1%	1.2%	1.2%	1.0%	–
Financial health
Current ratio	–	–	–	–	–	33.80×	–	–	–	–	–	–	–	–	–	–	0.00×	0.01×	0.01×	0.02×	0.02×	0.02×	0.02×	0.02×	4.27×
Debt / equity	0.63×	0.72×	0.70×	0.68×	0.31×	0.31×	0.33×	0.41×	0.34×	0.42×	0.50×	0.57×	0.74×	0.71×	0.79×	0.79×	0.96×	2.29×	1.27×	1.05×	0.85×	0.52×	0.49×	0.39×	0.26×
Effective tax rate	22.6%	15.8%	20.0%	14.7%	18.4%	25.1%	18.6%	17.0%	(22.2%)	23.4%	26.7%	19.8%	62.8%	30.1%	30.5%	30.0%	(4.0%)	45.4%	26.0%	28.3%	18.8%	28.5%	33.1%	(229.3%)	25.1%
Share count
Diluted shares outstanding	354	359	365	372	390	396	411	426	436	447	460	468	463	468	489	475	448	430	468	494	521	531	548	578	581

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001
Revenue and gross profit
Revenue	$64,765	$60,774	$70,405	$53,979	$56,881	$71,247	$57,033	$64,807	$62,992	$59,689	$58,779	$57,119	$54,105	$41,461	$84,847	$49,085	$38,217	$32,380	$28,990	$34,377	$32,268	$31,347	$27,813	$27,298	$26,071	$26,415
Cost of revenue	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	($18,866)	($17,971)	($2,917)	($2,699)	($17,715)	($31,280)	($15,891)	($15,002)
Gross profit	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	$10,353	$16,430	$29,351	$28,648	$10,098	($3,982)	$10,180	$11,413
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($13,559)	($13,012)	($13,342)	($12,951)	($12,576)	($13,609)	($13,913)	($13,416)	($11,949)	($11,915)	($11,779)	($10,912)	($11,807)	($11,011)	($11,094)	($10,605)	($8,309)	($8,991)	($9,274)	($8,820)	($8,052)	($7,641)	($6,844)	($7,173)	($8,229)	($9,120)
Total operating expenses	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	($11,492)	($11,744)	($24,957)	($24,374)	($6,832)	$5,859	($10,098)	($9,120)
Total costs and expenses	($59,785)	($56,118)	($67,196)	($50,907)	($58,773)	($60,412)	($57,356)	($59,722)	($58,158)	($53,202)	($53,074)	($49,350)	($52,346)	($43,145)	($84,139)	($44,121)	($34,077)	($30,828)	($30,129)	($29,691)	($27,874)	($27,073)	($24,547)	($25,421)	($25,989)	($24,122)
Operating income	$4,980	$4,656	$3,209	$3,072	($1,892)	$10,835	($323)	$5,085	$4,834	$6,487	$5,705	$7,769	$1,759	($1,684)	$708	$4,964	$4,140	$1,552	($1,139)	$4,686	$4,394	$4,274	$3,266	$1,877	$82	$2,293
Earnings
EBITDA	$4,820	$4,784	$3,592	$3,002	($1,775)	$11,041	$134	$5,545	$4,995	$6,709	$6,023	$7,882	$2,390	($1,273)	$1,010	$5,254	$4,036	$1,727	($422)	$5,025	$4,744	$4,775	$3,803	$2,591	$641	$2,739
Interest income	–	–	–	–	–	–	–	–	–	–	$16,226	$15,738	$15,994	$15,312	$1,389	–	–	–	–	–	–	–	–	–	–	–
Interest expense	–	($2,112)	($2,030)	($1,763)	($1,597)	($1,478)	($1,560)	($1,551)	($1,420)	($1,327)	($1,320)	($1,306)	($1,908)	($1,409)	–	($1,164)	($1,197)	($1,101)	($1,322)	–	–	–	–	($1,830)	($1,846)	–
Pre-tax income	$4,907	$4,656	$3,209	$3,072	($1,892)	$10,835	($323)	$5,085	$4,834	$6,487	$5,705	$7,769	$1,759	($1,684)	$708	$4,964	$4,140	$1,552	($1,139)	$4,686	$4,394	$4,274	$3,266	$1,877	$82	($227)
Income tax expense	($998)	($1,053)	($507)	($613)	$279	($1,995)	$81	($947)	($822)	$1,438	($1,335)	($2,072)	($349)	$1,058	($213)	($1,515)	($1,243)	$62	$517	($1,220)	($1,245)	($803)	($931)	($621)	$188	$57
Net income	$3,918	$3,576	$2,727	$2,488	($1,647)	$8,868	($374)	$4,186	$4,074	$7,863	$4,368	$5,642	$1,381	($667)	$520	$3,632	$3,001	$3,124	($1,117)	$3,662	$3,428	$3,540	$2,256	$1,264	$194	($154)
Per share
Diluted EPS (GAAP)	$11.08	$9.99	$7.50	$6.74	($4.49)	$22.40	($1.00)	$10.11	$9.50	$17.86	$9.71	$12.17	$3.23	($1.55)	$1.01	$6.99	$5.32	$7.63	($2.53)	$7.51	$6.50	$6.34	$3.31	$1.98	$0.34	($0.27)
Basic EPS (GAAP)	$11.12	$10.05	$7.54	$6.76	($4.49)	$22.56	($1.00)	$10.23	$9.64	$18.19	$9.85	$12.37	$3.25	($1.55)	$1.02	$7.08	$5.38	$7.68	($2.53)	$7.61	$6.63	$6.45	$3.38	$1.99	$0.34	($0.27)
Basic shares outstanding	349	352	358	364	372	387	396	405	418	427	438	452	458	463	466	480	467	445	430	460	484	512	521	544	577	580
Margins
Gross margin	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	35.7%	47.8%	91.0%	91.4%	36.3%	(14.6%)	39.0%	43.2%
Operating margin	7.7%	7.7%	4.6%	5.7%	(3.3%)	15.2%	(0.6%)	7.8%	7.7%	10.9%	9.7%	13.6%	3.3%	(4.1%)	0.8%	10.1%	10.8%	4.8%	(3.9%)	13.6%	13.6%	13.6%	11.7%	6.9%	0.3%	8.7%
Net margin	6.0%	5.9%	3.9%	4.6%	(2.9%)	12.4%	(0.7%)	6.5%	6.5%	13.2%	7.4%	9.9%	2.6%	(1.6%)	0.6%	7.4%	7.9%	9.6%	(3.9%)	10.7%	10.6%	11.3%	8.1%	4.6%	0.7%	(0.6%)

Analyst consensus

Hold37 analysts

Bearish · 5 · Hold · 25 · Bullish · 7

Earnings history

	EPS	Estimate
Q3 2024	$3.48	$3.47	Beat
Q4 2024	$2.96	$3.36	Miss
Q1 2025	$3.29	$3.18	Beat
Q2 2025	$3.58	$3.22	Beat
Q3 2025	$4.26	$3.72	Beat
Q4 2025	$3.30	$3.37	Miss
Q1 2026	$3.61	$3.09	Beat
Q2 2026	$4.08	$3.52	Beat

Peers

Company overview

IPO dateDec 13, 2001

CEOAndrew Sullivan

Employees36,607

SectorFinancial Services

IndustryInsurance - Life

CountryUS

ExchangeNew York Stock Exchange

Websitewww.prudential.com

Prudential Financial, Inc., together with its subsidiaries, provides financial products and services in the United States, Japan and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments. The PGIM segment offers investment management services and solutions related to public fixed income, public equity, real estate debt and equity, private credit and other alternatives, and multi-asset class strategies to institutional and retail clients, as well as its insurance and retirement businesses. The Retirement Strategies segment provides a range of retirement investment, and income products and services to retirement plan sponsors in the public, private, and not-for-profit sectors; group annuities and other products; international reinsurance; investment only products; and FlexGuard suite, Fixed annuities, and variable annuities, as well as develops and distributes individual variable and fixed annuity products. The Group Insurance segment offers various group life, and long-term and short-term group disability, as well as group corporate-, bank-, and trust-owned life insurance; and supplemental health solutions including accident, critical illness, and hospital indemnity. The Individual Life segment develops and distributes variable life, universal life, and term life insurance products. The International Businesses segment develops and distributes life insurance, retirement products, investment products, and certain accident and health products. The company provides its products and services to individual and institutional customers through its proprietary and third-party distribution networks, financial professionals, and trusted partnerships. Prudential Financial, Inc. was founded in 1875 and is headquartered in Newark, New Jersey.

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