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Friday 6 November 2026 Export PRI’s income statement to Excel — free account

Primerica, Inc.

PRI Financial Insurance Life

Primerica, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.3 billion, up 6.56% from fiscal 2024.

Revenue
+7.36%
EPS
+6.45%
Free cash flow
+45.7%
Total debt
−12.1%

Quarter to September 2026, against a year earlier

285.47 3.49 −1.21%
Market cap
$8.9B
P/E
11.3×
Fwd P/E
11.1×
Dividend yield
1.61%
F-score
8/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
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Primerica, Inc. (PRI) valuation and DCF model

What the price implies · reverse DCF

At $285.47 the price implies 20.7% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 20.5% a year over the last ten years, 21.1% over the last five. The price asks for close to its ten-year rate. Return on equity averaged 24.2% over ten years; the price implies 22.7% for good.

In December 2017 the price assumed 31.3% a year; Primerica, Inc. went on to grow the dividend a share 11.0% a year to FY2025.

Price implies
20.7%
Last 5 years, reported
21.1%
Last 10 years, reported
20.5%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
20.7% a year for ten years
$285.47
today’s price
Its base case
20.0% a year for five years, then 12.0%
$206.45
27.7% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Primerica, Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 20.7% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against Primerica, Inc.’s own cost of capital: risk-free 4.3% + beta 0.84 × equity premium 4.5% = 8.1% cost of equity; after-tax cost of debt 1.1%; weighted, 7.0%.

Use 7.0%
Base case value per share $206.45 ten years discounted, and what follows
Current price $285.47 market price per share
Below today’s price 27.7% downside at the base case’s assumptions

How we got there$71.61 10 years of dividends+$134.84 terminal value=$206.45 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Insurance Life).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 11.34× 13.58× 13.62× 17% below 11.34× 0% above
P/FCF 9.48× 9.79× 10.06× 6% below 7.43× 28% above
P/B 3.13× 3.39× 3.23× 3% below 1.08× 190% above
EV/EBITDA — 7.24× 8.12× — 3.38× —
EV/Sales — 3.03× 3.17× — 3.90× —
P/E P/FCF P/B EV/EBITDA EV/Sales
7.53×9.03×10.53×12.02×10Y avg 10.06×2017201820192020202120222023202420252026

PRI trades at 9.48× P/FCF, against a 10-year average of 10.06× (range 7.37×–12.16×). That is cheaper than 67% of the last 9 year-end readings; re-rating to the average implies $302.77 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.