NYSE : PRU
Prudential Financial, Inc. — Financial statements
Financials · Insurance - Life · United States
Last price 116.45 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 40.20B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 36.70B | 35.46B | 47.20B | 31.89B | 41.09B | 39.38B |
| Total Interest & Dividend Income | 22.57B | 21.47B | 19.91B | 17.86B | 16.04B | 18.29B |
| Gain (Loss) on Sale of Investments | -1.71B | -2.31B | -2.75B | -2.04B | -7.58B | 2.71B |
| Other Revenue | 3.60B | 2.59B | 1.75B | 2.74B | 979.00M | 5.91B |
| Total Revenue | 65.22B | 61.23B | 70.20B | 54.17B | 54.58B | 71.18B |
| Policy Benefits | 44.64B | 41.47B | 52.36B | 36.32B | 43.86B | 44.26B |
| Policy Acquisition & Underwriting Costs | 1.66B | 1.64B | 1.49B | 1.46B | 1.43B | 1.48B |
| Selling, General & Administrative | 13.56B | 13.01B | 13.34B | 12.92B | 12.57B | 13.61B |
| Total Operating Expenses | 59.86B | 56.12B | 67.19B | 50.70B | 57.86B | 59.35B |
| Operating Income | 5.37B | 5.12B | 3.00B | 3.47B | -3.28B | 11.83B |
| Earnings From Equity Investments | 157.00M | 129.00M | 144.00M | 49.00M | -62.00M | 98.00M |
| Currency Exchange Gain (Loss) | -459.00M | -459.00M | 209.00M | -189.00M | 63.00M | |
| EBT Excluding Unusual Items | 5.06B | 4.79B | 3.35B | 3.33B | -3.34B | 11.99B |
| Merger & Restructuring Charges | -1.00M | -30.00M | -8.00M | -1.00M | ||
| Impairment of Goodwill | -177.00M | -903.00M | -1.06B | |||
| Gain (Loss) on Sale of Assets | 2.30B | |||||
| Pretax Income | 5.06B | 4.79B | 3.35B | 3.12B | -1.95B | 10.93B |
| Income Tax Expense | 998.00M | 1.05B | 507.00M | 613.00M | -279.00M | 2.00B |
| Earnings From Continuing Ops. | 4.07B | 3.73B | 2.85B | 2.51B | -1.68B | 8.94B |
| Minority Interest in Earnings | -148.00M | -156.00M | -119.00M | -20.00M | 28.00M | -70.00M |
| Net Income | 3.92B | 3.58B | 2.73B | 2.49B | -1.65B | 8.87B |
| Preferred Dividends & Other Adjustments | 46.00M | 41.00M | 32.00M | 29.00M | 25.00M | 132.00M |
| Net Income to Common | 3.87B | 3.54B | 2.69B | 2.46B | -1.67B | 8.74B |
| Shares Outstanding (Basic) | 348.45M | 351.80M | 357.50M | 363.50M | 372.30M | 387.20M |
| Shares Outstanding (Diluted) | 350.35M | 353.70M | 359.30M | 364.60M | 372.30M | 390.10M |
| EPS (Basic) | 11.11 | 10.05 | 7.54 | 6.76 | -4.49 | 22.56 |
| EPS (Diluted) | 11.06 | 9.99 | 7.50 | 6.74 | -4.49 | 22.40 |
| Dividend Per Share | 5.50 | 5.40 | 5.20 | 5.00 | 4.80 | 4.60 |
| Operating Margin | 8.23% | 8.35% | 4.28% | 6.40% | -6.01% | 16.62% |
| Profit Margin | 5.94% | 5.77% | 3.84% | 4.54% | -3.06% | 12.27% |
| EBITDA | 5.21B | 5.24B | 3.38B | 3.47B | -3.16B | 12.04B |
| EBITDA Margin | 7.98% | 8.56% | 4.82% | 6.40% | -5.79% | 16.91% |
| D&A For EBITDA | -160.00M | 128.00M | 383.00M | 1.33M | 117.00M | 206.00M |
| EBIT | 5.37B | 5.12B | 3.00B | 3.47B | -3.28B | 11.83B |
| EBIT Margin | 8.23% | 8.35% | 4.28% | 6.40% | -6.01% | 16.62% |
| Effective Tax Rate | 19.71% | 22.01% | 15.12% | 19.64% | 18.25% | |
| Revenue as Reported | 64.77B | 60.77B | 70.41B | 53.98B | 56.88B | 71.25B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 334.43B | 331.97B | 312.40B | 317.21B | 309.96B | 374.98B |
| Investments in Equity & Preferred Securities | 36.66B | 33.68B | 30.57B | 27.31B | 23.75B | 24.37B |
| Policy Loans | 9.98B | 9.96B | 9.79B | 10.05B | 10.05B | 10.39B |
| Other Investments | 14.33B | 12.80B | 14.59B | 9.37B | 7.91B | 9.90B |
| Total Investments | 479.31B | 469.16B | 442.95B | 434.28B | 415.42B | 488.29B |
| Cash & Equivalents | 15.16B | 19.71B | 18.50B | 19.42B | 17.25B | 12.89B |
| Reinsurance Recoverable | 44.22B | 44.08B | 37.68B | 27.31B | 18.99B | |
| Other Receivables | 4.60B | 4.63B | 5.32B | 4.78B | 3.58B | 3.48B |
| Deferred Policy Acquisition Cost | 21.88B | 21.53B | 20.45B | 20.86B | 20.55B | 18.19B |
| Separate Account Assets | 198.95B | 196.25B | 193.37B | 198.89B | 197.68B | 246.15B |
| Property, Plant & Equipment | 366.00M | 373.00M | 286.00M | |||
| Goodwill | 1.09B | 1.05B | 1.07B | 876.00M | 1.80B | |
| Other Intangible Assets | 122.00M | 139.00M | 168.00M | 205.00M | ||
| Restricted Cash | 55.00M | 37.00M | 23.00M | 44.00M | 48.00M | |
| Other Current Assets | 1.72B | 1.67B | 1.60B | 1.10B | 1.46B | 157.07B |
| Other Long-Term Assets | 17.66B | 15.09B | 14.13B | 13.02B | 12.98B | 9.71B |
| Total Assets | 783.55B | 773.74B | 735.59B | 721.21B | 689.03B | 937.58B |
| Insurance & Annuity Liabilities | 428.62B | 438.07B | 420.51B | 414.02B | 394.60B | 418.95B |
| Unpaid Claims | 3.19B | |||||
| Reinsurance Payable | 19.70B | 18.67B | 17.08B | 15.73B | 5.73B | |
| Current Portion of Long-Term Debt | 80.00M | 569.00M | 432.00M | 83.00M | 328.00M | 197.00M |
| Current Portion of Leases | 92.00M | |||||
| Short-Term Debt | 23.02B | 19.17B | 16.94B | 13.07B | 13.14B | 14.96B |
| Current Income Taxes Payable | 277.00M | 9.51B | ||||
| Long-Term Debt | 33.59B | 24.14B | 23.25B | 20.26B | 20.28B | 18.90B |
| Long-Term Leases | 316.00M | 408.00M | 311.00M | 370.00M | 432.00M | |
| Separate Account Liability | 198.95B | 196.25B | 193.37B | 198.89B | 197.68B | 246.15B |
| Other Current Liabilities | 33.47B | 29.81B | 21.95B | 17.40B | 12.41B | 153.64B |
| Other Long-Term Liabilities | 11.55B | 9.17B | 9.66B | 9.52B | 9.94B | 6.06B |
| Total Liabilities | 748.97B | 738.16B | 705.46B | 691.34B | 657.11B | 874.97B |
| Common Stock | 6.00M | 6.00M | 6.00M | 6.00M | 6.00M | 6.00M |
| Additional Paid-In Capital | 25.89B | 26.01B | 25.90B | 25.75B | 25.75B | 25.73B |
| Retained Earnings | 35.42B | 34.83B | 33.19B | 32.35B | 31.71B | 36.65B |
| Treasury Stock | -25.68B | -25.34B | -24.51B | -23.78B | -23.07B | -21.84B |
| Comprehensive Income & Other | -4.06B | -3.08B | -6.71B | -6.50B | -3.81B | 21.32B |
| Total Common Equity | 31.58B | 32.44B | 27.87B | 27.82B | 30.59B | 61.88B |
| Minority Interest | 3.01B | 3.14B | 2.25B | 2.06B | 1.33B | 732.00M |
| Shareholders' Equity | 34.59B | 35.58B | 30.13B | 29.88B | 31.92B | 62.61B |
| Total Liabilities & Equity | 783.55B | 773.74B | 735.59B | 721.21B | 689.03B | 937.58B |
| Filing Date Shares Outstanding | 345.00M | 348.00M | 354.00M | 359.00M | 366.00M | 376.00M |
| Total Common Shares Outstanding | 345.21M | 347.94M | 354.57M | 359.22M | 365.96M | 376.29M |
| Total Debt | 56.69B | 44.29B | 41.02B | 33.72B | 34.12B | 34.49B |
| Net Cash (Debt) | -41.52B | -24.58B | -22.53B | -14.30B | -16.86B | -21.60B |
| Net Cash Per Share | -118.52 | -69.49 | -62.69 | -39.22 | -45.30 | -55.37 |
| Book Value Per Share | 91.47 | 93.23 | 78.61 | 77.45 | 83.60 | 164.44 |
| Tangible Book Value | 31.58B | 31.23B | 26.68B | 26.58B | 29.51B | 60.07B |
| Tangible Book Value Per Share | 91.47 | 89.74 | 75.25 | 74.00 | 80.64 | 159.64 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 3.92B | 3.58B | 2.73B | 2.49B | -1.65B | 8.87B |
| Depreciation & Amortization | -160.00M | 128.00M | 383.00M | -70.00M | 117.00M | 206.00M |
| Gain (Loss) on Sale of Investments | 2.42B | 3.48B | 2.83B | 3.11B | 5.63B | -1.82B |
| Change in Income Taxes | 456.00M | -493.00M | -146.00M | -442.00M | -1.59B | 259.00M |
| Change in Insurance Reserves / Liabilities | 3.10B | 3.49B | 4.80B | 5.49B | 6.13B | 8.74B |
| Change in Other Net Operating Assets | -1.99B | -6.37B | -3.96B | -5.14B | -4.01B | -4.23B |
| Other Operating Activities | 4.20B | 3.67B | 2.97B | 1.76B | 344.00M | -2.23B |
| Operating Cash Flow | 10.97B | 6.27B | 8.50B | 6.51B | 5.16B | 9.81B |
| Investment in Securities | -27.97B | -23.94B | -24.54B | -8.01B | -6.65B | -5.18B |
| Other Investing Activities | -961.00M | -382.00M | -746.00M | -2.00B | -1.98B | -1.02B |
| Investing Cash Flow | -32.05B | -25.89B | -28.59B | -12.12B | -7.64B | -5.34B |
| Short-Term Debt Issued | 2.33B | 3.88B | 10.00M | 339.00M | ||
| Long-Term Debt Issued | 2.76B | 2.86B | 2.08B | 2.84B | 268.00M | |
| Total Debt Issued | 6.92B | 5.09B | 6.74B | 2.09B | 2.84B | 607.00M |
| Total Debt Repaid | -2.14B | -1.99B | -2.01B | -2.47B | -2.94B | -1.71B |
| Net Debt Issued (Repaid) | 4.79B | 3.10B | 4.73B | -388.00M | -96.00M | -1.10B |
| Issuance of Common Stock | 108.00M | 109.00M | 201.00M | 126.00M | 163.00M | 200.00M |
| Repurchases of Common Stock | -1.00B | -1.00B | -1.00B | -1.01B | -1.49B | -2.50B |
| Common Dividends Paid | -1.95B | -1.93B | -1.89B | -1.85B | -1.82B | -1.81B |
| Other Financing Activities | 561.00M | 848.00M | 830.00M | 645.00M | 2.23B | -364.00M |
| Financing Cash Flow | 19.76B | 20.77B | 19.39B | 7.74B | 4.93B | -3.01B |
| Foreign Exchange Rate Adjustments | -169.00M | 77.00M | -254.00M | 37.00M | -159.00M | -309.00M |
| Miscellaneous Cash Flow Adjustments | -2.07B | 2.07B | ||||
| Net Cash Flow | -1.48B | 1.23B | -943.00M | 2.16B | 223.00M | 3.22B |
| Levered Free Cash Flow | 7.53B | 12.62B | -993.38M | 2.74B | -3.05B | -13.37B |
| Unlevered Free Cash Flow | 7.53B | 12.62B | -993.38M | 2.74B | -3.05B | -13.37B |
| Cash Interest Paid | 1.91B | 1.91B | 2.00B | 1.55B | 1.45B | 1.45B |
| Cash Income Tax Paid | 1.40B | 1.40B | 756.00M | 895.00M | 1.09B | 1.67B |
| Change in Working Capital | 599.00M | -4.59B | -412.00M | -958.00M | -194.00M | 3.72B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 40.84B | 39.50B | 42.20B | 37.47B | 36.60B | 40.91B |
| Enterprise Value | 82.36B | 76.53B | 70.25B | 53.61B | 52.15B | 60.14B |
| PE Ratio | 10.70 | 11.17 | 15.66 | 15.24 | 4.68 | |
| PS Ratio | 0.63 | 0.65 | 0.60 | 0.69 | 0.67 | 0.57 |
| PB Ratio | 1.27 | 1.11 | 1.40 | 1.25 | 1.15 | 0.65 |
| P/OCF Ratio | 3.73 | 6.30 | 4.96 | 5.76 | 7.10 | 4.17 |
| EV/Sales Ratio | 1.26 | 1.25 | 1.00 | 0.99 | 0.95 | 0.84 |
| EV/EBITDA Ratio | 15.84 | 14.60 | 20.76 | 15.45 | 5.00 | |
| EV/EBIT Ratio | 15.37 | 14.96 | 23.41 | 15.46 | 5.08 | |
| Debt / Equity Ratio | 1.64 | 1.25 | 1.36 | 1.13 | 1.07 | 0.55 |
| Debt / EBITDA Ratio | 10.50 | 8.15 | 11.47 | 9.20 | 2.81 | |
| Net Debt / Equity Ratio | 1.20 | 0.69 | 0.75 | 0.48 | 0.53 | 0.34 |
| Net Debt / EBITDA Ratio | 7.98 | 4.69 | 6.66 | 4.12 | -5.33 | 1.79 |
| Quick Ratio | 0.68 | 0.81 | 1.02 | 1.10 | 1.03 | 0.15 |
| Current Ratio | 0.78 | 0.92 | 1.15 | 1.24 | 1.20 | 0.99 |
| Asset Turnover | 0.09 | 0.08 | 0.10 | 0.08 | 0.07 | 0.08 |
| Return on Equity (ROE) | 12.01% | 11.36% | 9.49% | 8.12% | -3.54% | 13.66% |
| Return on Assets (ROA) | 0.43% | 0.42% | 0.26% | 0.31% | -0.25% | 0.79% |
| Return on Invested Capital (ROIC) | 4.74% | 5.28% | 3.78% | 4.30% | -4.02% | 9.62% |
| Earnings Yield | 9.35% | 9.05% | 6.46% | 6.64% | -4.50% | 21.67% |
| Dividend Yield | 4.73% | 4.76% | 4.37% | 4.79% | 4.80% | 4.23% |
| Payout Ratio | 50.66% | 53.86% | 69.34% | 74.20% | 20.46% | |
| Buyback Yield / Dilution | 1.81% | 1.56% | 1.45% | 2.07% | 4.56% | 1.44% |
| Total Shareholder Return | 6.53% | 6.32% | 5.82% | 6.86% | 9.36% | 5.67% |