NYSE : PRI
Primerica, Inc. — Financial statements
Financials · Insurance - Life · United States
Last price 281.09 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 8.65B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 1.79B | 1.78B | 1.73B | 1.66B | 1.60B | 1.51B |
| Total Interest & Dividend Income | 225.81M | 224.59M | 217.15M | 201.71M | 156.99M | 142.79M |
| Gain (Loss) on Sale of Investments | 3.98M | -216.00K | 3.24M | -6.30M | -995.00K | 5.87M |
| Other Revenue | 1.46B | 1.34B | 1.15B | 958.25M | 965.15M | 1.12B |
| Total Revenue | 3.49B | 3.35B | 3.10B | 2.81B | 2.72B | 2.77B |
| Policy Benefits | 616.52M | 628.54M | 622.24M | 642.60M | 634.03M | 603.30M |
| Policy Acquisition & Underwriting Costs | 356.21M | 345.90M | 330.14M | 310.04M | 291.89M | 325.59M |
| Selling, General & Administrative | 1.03B | 950.39M | 828.87M | 692.90M | 698.17M | 724.91M |
| Other Operating Expenses | 376.86M | 368.37M | 340.81M | 304.64M | 287.47M | 283.95M |
| Total Operating Expenses | 2.38B | 2.29B | 2.12B | 1.95B | 1.91B | 1.94B |
| Operating Income | 1.10B | 1.06B | 979.73M | 863.81M | 809.82M | 834.18M |
| Interest Expense | -78.48M | -82.00M | -87.69M | -92.07M | -91.16M | -92.83M |
| EBT Excluding Unusual Items | 1.03B | 974.56M | 892.05M | 771.74M | 718.66M | 741.36M |
| Merger & Restructuring Charges | -2.80M | -12.90M | ||||
| Impairment of Goodwill | -76.00M | |||||
| Other Unusual Items | -8.93M | |||||
| Pretax Income | 1.03B | 974.56M | 939.25M | 771.74M | 718.66M | 643.53M |
| Income Tax Expense | 230.18M | 223.33M | 219.12M | 180.56M | 163.94M | 167.54M |
| Earnings From Continuing Ops. | 796.21M | 751.23M | 720.13M | 591.18M | 554.71M | 475.99M |
| Earnings From Discontinued Ops. | -249.61M | -14.58M | -87.68M | |||
| Net Income to Company | 796.21M | 751.23M | 470.52M | 576.60M | 467.03M | 475.99M |
| Minority Interest in Earnings | 5.04M | 1.38M | ||||
| Net Income | 796.21M | 751.23M | 470.52M | 576.60M | 472.07M | 477.36M |
| Preferred Dividends & Other Adjustments | 2.60M | 2.45M | 1.74M | 2.48M | 2.13M | 1.96M |
| Net Income to Common | 793.62M | 748.79M | 468.78M | 574.12M | 469.94M | 475.40M |
| Shares Outstanding (Basic) | 31.81M | 32.63M | 34.14M | 35.95M | 38.00M | 39.53M |
| Shares Outstanding (Diluted) | 31.86M | 32.68M | 34.20M | 36.03M | 38.11M | 39.65M |
| EPS (Basic) | 24.95 | 22.95 | 13.73 | 15.97 | 12.37 | 12.03 |
| EPS (Diluted) | 24.91 | 22.91 | 13.71 | 15.94 | 12.33 | 11.99 |
| Free Cash Flow | 842.16M | 875.13M | 832.86M | 658.62M | 731.86M | 632.27M |
| Free Cash Flow Per Share | 26.43 | 26.78 | 24.35 | 18.28 | 19.21 | 15.95 |
| Dividend Per Share | 4.64 | 4.32 | 3.59 | 2.70 | 2.30 | 1.96 |
| Operating Margin | 31.69% | 31.54% | 31.59% | 30.70% | 29.76% | 30.09% |
| Profit Margin | 22.77% | 22.35% | 15.11% | 20.40% | 17.27% | 17.15% |
| Free Cash Flow Margin | 24.16% | 26.12% | 26.85% | 23.41% | 26.89% | 22.81% |
| EBITDA | 1.12B | 1.08B | 1.00B | 895.77M | 843.99M | 864.02M |
| EBITDA Margin | 32.19% | 32.12% | 32.34% | 31.83% | 31.01% | 31.17% |
| D&A For EBITDA | 17.13M | 19.25M | 23.40M | 31.96M | 34.17M | 29.84M |
| EBIT | 1.10B | 1.06B | 979.73M | 863.81M | 809.82M | 834.18M |
| EBIT Margin | 31.69% | 31.54% | 31.59% | 30.70% | 29.76% | 30.09% |
| Effective Tax Rate | 22.43% | 22.92% | 23.33% | 23.40% | 22.81% | 26.04% |
| Revenue as Reported | 139.58M | 2.71B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 4.55B | 4.44B | 4.25B | 4.11B | 3.94B | 4.08B |
| Investments in Equity & Preferred Securities | 29.27M | 26.43M | 27.14M | 29.68M | 35.40M | 42.55M |
| Policy Loans | 120.74M | 56.23M | 50.88M | 51.17M | 48.71M | 30.61M |
| Other Investments | 4.95M | 276.00K | 69.41M | 85.24M | ||
| Total Investments | 4.73B | 4.54B | 4.33B | 4.21B | 4.10B | 4.26B |
| Cash & Equivalents | 600.18M | 756.23M | 687.82M | 594.15M | 489.24M | 392.50M |
| Reinsurance Recoverable | 2.45B | 2.56B | 2.74B | 3.02B | 3.21B | 4.27B |
| Other Receivables | 505.80M | 350.56M | 310.71M | 296.62M | 475.20M | 508.13M |
| Deferred Policy Acquisition Cost | 3.99B | 3.92B | 3.68B | 3.45B | 3.19B | 2.94B |
| Separate Account Assets | 2.16B | 2.28B | 2.21B | 2.40B | 2.31B | 2.80B |
| Property, Plant & Equipment | 39.70M | 82.67M | 88.72M | 89.61M | 93.86M | 115.96M |
| Goodwill | 127.71M | 179.15M | ||||
| Other Intangible Assets | 45.27M | 45.27M | 45.27M | 45.27M | 185.53M | 195.82M |
| Other Current Assets | 131.40M | 158.90M | 606.24M | 224.40M | 231.40M | |
| Long-Term Deferred Tax Assets | 132.04M | 122.66M | 116.59M | 93.63M | 81.80M | |
| Other Long-Term Assets | 259.73M | 215.60M | 203.01M | 214.44M | 150.50M | 141.83M |
| Total Assets | 14.78B | 15.01B | 14.58B | 15.03B | 14.64B | 16.12B |
| Insurance & Annuity Liabilities | 7.15B | 7.17B | 6.91B | 7.18B | 6.78B | 7.64B |
| Unpaid Claims | 489.11M | 495.36M | 488.35M | 513.80M | 538.25M | 585.38M |
| Unearned Premiums | 16.42M | 15.52M | 15.61M | 14.88M | 15.42M | 16.44M |
| Current Portion of Leases | 7.69M | |||||
| Short-Term Debt | 88.58M | 84.88M | 86.03M | 99.78M | 100.94M | 109.53M |
| Current Income Taxes Payable | 24.91M | 119.65M | 57.99M | 22.67M | 36.88M | 15.31M |
| Long-Term Debt | 1.67B | 1.77B | 1.90B | 1.98B | 2.04B | 1.97B |
| Long-Term Leases | 46.85M | 42.88M | 55.48M | 58.89M | 45.99M | 54.92M |
| Long-Term Deferred Tax Liabilities | 28.31M | 57.62M | 53.59M | 167.14M | 226.00M | |
| Separate Account Liability | 2.16B | 2.28B | 2.21B | 2.40B | 2.31B | 2.80B |
| Other Current Liabilities | 65.84M | |||||
| Other Long-Term Liabilities | 619.81M | 545.60M | 549.16M | 579.04M | 580.78M | 614.71M |
| Total Liabilities | 12.26B | 12.57B | 12.32B | 12.96B | 12.61B | 14.03B |
| Common Stock | 309.00K | 318.00K | 334.00K | 350.00K | 368.00K | 394.00K |
| Additional Paid-In Capital | 5.22M | |||||
| Retained Earnings | 2.47B | 2.42B | 2.23B | 2.28B | 2.15B | 2.00B |
| Comprehensive Income & Other | 49.21M | 29.43M | 27.22M | -211.33M | -122.73M | 72.39M |
| Total Common Equity | 2.52B | 2.45B | 2.26B | 2.07B | 2.03B | 2.08B |
| Minority Interest | 7.27M | |||||
| Shareholders' Equity | 2.52B | 2.45B | 2.26B | 2.07B | 2.03B | 2.09B |
| Total Liabilities & Equity | 14.78B | 15.01B | 14.58B | 15.03B | 14.64B | 16.12B |
| Filing Date Shares Outstanding | 30.78M | 31.66M | 33.25M | 34.85M | 36.65M | 39.24M |
| Total Common Shares Outstanding | 30.90M | 31.81M | 33.37M | 35.00M | 36.82M | 39.37M |
| Total Debt | 1.80B | 1.91B | 2.04B | 2.14B | 2.18B | 2.14B |
| Net Cash (Debt) | -1.20B | -1.15B | -1.35B | -1.54B | -1.70B | -1.74B |
| Net Cash Per Share | -37.80 | -35.18 | -39.53 | -42.88 | -44.48 | -43.95 |
| Book Value Per Share | 81.65 | 76.89 | 67.70 | 59.03 | 55.16 | 52.90 |
| Tangible Book Value | 2.48B | 2.40B | 2.21B | 2.02B | 1.72B | 1.71B |
| Tangible Book Value Per Share | 80.19 | 75.47 | 66.34 | 57.74 | 46.65 | 43.37 |
| Machinery | 148.16M | 135.25M | 122.75M | 132.60M | 127.15M | |
| Leasehold Improvements | 20.07M | 18.96M | 18.05M | 18.14M | 18.63M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 796.21M | 751.23M | 470.52M | 576.60M | 472.07M | 477.36M |
| Depreciation & Amortization | 17.13M | 19.25M | 23.40M | 31.96M | 34.17M | 29.84M |
| Other Amortization | 333.70M | 322.90M | 298.14M | 275.82M | 261.63M | 238.27M |
| Gain (Loss) on Sale of Investments | -6.76M | -2.56M | -5.62M | 3.86M | 4.32M | -754.00K |
| Stock-Based Compensation | 24.67M | 24.60M | 25.07M | 18.91M | 22.36M | 16.84M |
| Change in Accounts Receivable | 4.05M | 7.44M | -12.30M | -18.76M | -475.00K | 6.05M |
| Reinsurance Recoverable | 216.00M | 231.80M | 190.95M | 237.33M | 461.93M | 769.01M |
| Change in Income Taxes | -26.62M | 17.40M | 46.57M | -8.84M | 26.40M | 1.65M |
| Change in Insurance Reserves / Liabilities | 93.37M | 95.23M | 144.27M | 102.54M | -35.83M | -417.64M |
| Change in Other Net Operating Assets | 11.14M | 7.99M | 24.58M | 46.00M | -7.69M | 11.03M |
| Other Operating Activities | -571.15M | -574.11M | -692.88M | -572.90M | -541.21M | -550.70M |
| Operating Cash Flow | 891.75M | 901.18M | 862.09M | 692.52M | 757.66M | 656.96M |
| Capital Expenditures | -49.59M | -26.05M | -29.23M | -33.90M | -25.80M | -24.69M |
| Cash Acquisitions | 3.87M | -494.46M | ||||
| Investment in Securities | -365.98M | -209.52M | -231.64M | -56.15M | -178.11M | -404.24M |
| Other Investing Activities | 131.42M | 28.62M | ||||
| Investing Cash Flow | -284.15M | -235.57M | -232.25M | -90.05M | -200.05M | -923.38M |
| Short-Term Debt Issued | 125.00M | |||||
| Long-Term Debt Issued | 597.30M | |||||
| Total Debt Issued | 722.30M | |||||
| Total Debt Repaid | -242.00K | -262.00K | -256.00K | -265.00K | -12.63M | -508.95M |
| Net Debt Issued (Repaid) | -242.00K | -262.00K | -256.00K | -265.00K | -12.63M | 213.34M |
| Repurchases of Common Stock | -484.16M | -463.32M | -438.07M | -385.64M | -361.44M | -25.40M |
| Common Dividends Paid | -142.70M | -136.05M | -112.81M | -93.72M | -83.78M | -74.64M |
| Other Financing Activities | -5.33M | |||||
| Financing Cash Flow | -627.10M | -599.64M | -551.14M | -479.62M | -457.85M | 107.97M |
| Foreign Exchange Rate Adjustments | -1.51M | 2.43M | -4.02M | 1.06M | -3.03M | 3.38M |
| Net Cash Flow | -21.02M | 68.41M | 74.67M | 123.91M | 96.74M | -155.07M |
| Free Cash Flow | 842.16M | 875.13M | 832.86M | 658.62M | 731.86M | 632.27M |
| Free Cash Flow Margin | 24.16% | 26.12% | 26.85% | 23.41% | 26.89% | 22.81% |
| Free Cash Flow Per Share | 26.43 | 26.78 | 24.35 | 18.28 | 19.21 | 15.95 |
| Levered Free Cash Flow | 1.04B | 1.13B | 1.51B | 798.06M | 1.83B | 582.41M |
| Unlevered Free Cash Flow | 1.09B | 1.18B | 1.56B | 855.60M | 1.89B | 640.42M |
| Cash Interest Paid | 23.11M | 23.11M | 24.22M | 27.28M | 27.06M | 33.91M |
| Cash Income Tax Paid | 236.07M | 236.07M | 140.25M | 227.27M | 178.22M | 154.81M |
| Change in Working Capital | 297.93M | 359.85M | 394.07M | 358.26M | 444.32M | 370.10M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 8.65B | 8.25B | 9.06B | 7.21B | 5.23B | 6.05B |
| Enterprise Value | 9.86B | 9.59B | 10.57B | 8.89B | 6.95B | 7.79B |
| PE Ratio | 11.28 | 11.01 | 19.32 | 12.56 | 11.13 | 12.73 |
| PS Ratio | 2.48 | 2.46 | 2.92 | 2.56 | 1.92 | 2.18 |
| PB Ratio | 3.44 | 3.37 | 4.01 | 3.49 | 2.58 | 2.90 |
| P/FCF Ratio | 10.27 | 9.42 | 10.88 | 10.95 | 7.15 | 9.57 |
| P/OCF Ratio | 9.70 | 9.15 | 10.51 | 10.41 | 6.91 | 9.21 |
| EV/Sales Ratio | 2.83 | 2.86 | 3.41 | 3.16 | 2.55 | 2.81 |
| EV/EBITDA Ratio | 8.78 | 8.92 | 10.54 | 9.93 | 8.23 | 9.01 |
| EV/EBIT Ratio | 8.92 | 9.08 | 10.79 | 10.29 | 8.58 | 9.33 |
| EV/FCF Ratio | 11.70 | 10.96 | 12.70 | 13.50 | 9.50 | 12.31 |
| Debt / Equity Ratio | 0.71 | 0.78 | 0.90 | 1.03 | 1.07 | 1.02 |
| Debt / EBITDA Ratio | 1.60 | 1.76 | 2.02 | 2.37 | 2.56 | 2.44 |
| Debt / FCF Ratio | 2.14 | 2.18 | 2.45 | 3.25 | 2.98 | 3.38 |
| Net Debt / Equity Ratio | 0.48 | 0.47 | 0.60 | 0.75 | 0.83 | 0.83 |
| Net Debt / EBITDA Ratio | 1.07 | 1.07 | 1.35 | 1.73 | 2.01 | 2.02 |
| Net Debt / FCF Ratio | 1.43 | 1.31 | 1.62 | 2.35 | 2.32 | 2.76 |
| Quick Ratio | 1.15 | 1.01 | 0.93 | 0.77 | 0.86 | 0.81 |
| Current Ratio | 3.73 | 3.54 | 3.72 | 3.93 | 3.81 | 4.49 |
| Asset Turnover | 0.23 | 0.23 | 0.21 | 0.19 | 0.18 | 0.18 |
| Return on Equity (ROE) | 32.97% | 31.93% | 33.30% | 28.86% | 26.92% | 24.25% |
| Return on Assets (ROA) | 4.66% | 4.46% | 4.14% | 3.64% | 3.29% | 3.36% |
| Return on Invested Capital (ROIC) | 19.69% | 18.83% | 17.67% | 15.72% | 14.81% | 15.61% |
| Earnings Yield | 8.86% | 9.11% | 5.20% | 8.00% | 9.02% | 7.89% |
| FCF Yield | 9.73% | 10.61% | 9.20% | 9.14% | 13.99% | 10.45% |
| Dividend Yield | 1.71% | 1.67% | 1.32% | 1.31% | 1.62% | 1.27% |
| Payout Ratio | 18.63% | 18.11% | 23.98% | 16.25% | 17.75% | 15.63% |
| Buyback Yield / Dilution | 4.67% | 4.44% | 5.07% | 5.46% | 3.90% | 1.33% |
| Total Shareholder Return | 6.38% | 6.11% | 6.40% | 6.77% | 5.52% | 2.60% |