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Prudential Financial, Inc.

PRU Financial Insurance Life

Prudential Financial, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $60.8 billion, down 13.7% from fiscal 2024.

Revenue
−24.6%
EPS
−0.52%
Free cash flow
−8.45%
Total debt
+2.71%

Quarter to September 2026, against a year earlier

120.95 1.51 −1.23%
Market cap
$42.3B
P/E
11.0×
Fwd P/E
10.7×
Dividend yield
4.54%
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
Segments Valuation Filings

Prudential Financial, Inc. (PRU) valuation and DCF model

What the price implies · reverse DCF

At $120.95 the price implies 25.6% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 8.4% a year over the last ten years, 4.1% over the last five. The price asks for about three times its ten-year rate. Return on equity averaged 8.0% over ten years; the price implies 11.5% for good.

In December 2017 the price assumed 14.1% a year; Prudential Financial, Inc. went on to grow the dividend a share −9.1% a year to FY2025.

Price implies
25.6%
Last 5 years, reported
4.1%
Last 10 years, reported
8.4%

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
25.6% a year for ten years
$120.95
today’s price
Its base case
8.4% a year for five years, then 5.1%
$29.98
75.2% 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 Prudential Financial, 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 25.6% 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 Prudential Financial, Inc.’s own cost of capital: risk-free 4.3% + beta 0.83 × equity premium 4.5% = 8.0% cost of equity; weighted, 8.0%.

Use 8.0%
Base case value per share $29.98 ten years discounted, and what follows
Current price $120.95 market price per share
Below today’s price 75.2% downside at the base case’s assumptions

How we got there$12.62 10 years of dividends+$17.36 terminal value=$29.98 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 11.03× 11.70× 10.32× 7% above 11.34× 3% below
P/FCF 3.97× 5.66× 4.34× 9% below 7.43× 47% below
P/B 1.41× 1.33× 1.00× 41% above 1.08× 31% above
EV/EBITDA — 63.81× 38.98× — 3.38× —
EV/Sales — 0.68× 0.71× — 3.90× —
P/E P/FCF P/B EV/EBITDA EV/Sales
2.21×3.73×5.25×6.78×10Y avg 4.34×2017201820192020202120222023202420252026

PRU trades at 3.97× P/FCF, against a 10-year average of 4.34× (range 1.57×–7.18×). That is cheaper than 56% of the last 9 year-end readings; re-rating to the average implies $132.21 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.