Corebridge Financial, Inc. (CRBG) vs Principal Financial Group, Inc. (PFG)

Corebridge Financial, Inc. and Principal Financial Group, Inc. are both Asset Management companies. Principal Financial Group, Inc. is the larger, with a market value of $24.4B against $15.2B — 1.6× the size. Principal Financial Group, Inc. trades at the lower P/E: 16.1× against 20.4×. Corebridge Financial, Inc. grew revenue faster over the last twelve months: 29.8% against 3.72%. Principal Financial Group, Inc. has the higher net margin (9.93% vs 4.43%) and the higher return on invested capital (10.3% vs 4.59%). Both pay a dividend; Corebridge Financial, Inc. yields more (11.5% vs 3.35%). Across the 22 metrics below, Principal Financial Group, Inc. leads on 13 and Corebridge Financial, Inc. on 9.

Valuation

Metric CRBG PFG Asset Management median
P/E 20.39 16.07 14.62
P/S 0.79 1.58 2.97
P/B 1.46 2.03 0.94
Price to free cash flow 8.55 n/m 8.93
EV/EBITDA 11.37 12.81 10.32
EV/Sales 1.31 1.52 5.72
Earnings yield 4.90% 6.22% 4.53%
Free cash flow yield 11.69% (20.37%) 4.65%

Profitability

Metric CRBG PFG Asset Management median
Gross margin 30.45% 47.67% 100.00%
Operating margin 8.01% 11.87% 33.03%
Net margin 4.43% 9.93% 13.53%
Free cash flow margin 9.23% 30.92% 12.44%
Return on equity 7.39% 13.18% 4.83%
Return on assets 0.22% 0.46% 1.57%
Return on invested capital 4.59% 10.34% 3.04%

Growth

Metric CRBG PFG Asset Management median
Revenue growth (TTM) 29.77% 3.72% 6.97%
EPS growth (last fiscal year) (118.28%) (21.41%) —
Revenue growth, 5-year CAGR 4.18% 1.17% 12.13%
Net income growth, 5-year CAGR 0.00% (3.22%) 0.00%

Health

Metric CRBG PFG Asset Management median
Debt to equity 0.96 0.36 0.42
Current ratio 0.09 0.24 1.28
Net debt to EBITDA 18.45 (0.28) 1.06

Dividend

Metric CRBG PFG Asset Management median
Dividend yield 11.53% 3.35% 6.92%
Payout ratio — 0.39 0.77

Size

Metric CRBG PFG Asset Management median
Market cap 15.20b 24.44b 721.34m

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