Primerica, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Primerica, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,519	1,689	1,900	2,053	2,218	2,710	2,657	2,749	3,089	3,292
Cost of revenue						52.8	68.4	55.2
Gross profit						2,657	2,589	2,693
Interest expense	28.7	28.5	28.8	28.8	28.8	30.6	27.2	26.6
Pre-tax income	338	380	416	477	507	644	719	772	939	975
Income tax	118	29.3	92	111	121	168	164	181	219	223
Income from continuing operations							555	591	720	751
Net income to minority interests						-1.38	-5.04
Net income	219	350	324	366	386	477	472	577	471	749
EPS, basic	5.87	9.75	9.40	11.06	12.27	12.03	12.37	15.97	13.73	22.95
EPS, diluted	5.87	9.73	9.37	11.02	12.23	11.99	12.33	15.94	13.71	22.91
Shares, basic (weighted)	37.1	35.7	34.3	33	31.3	39.5	38	36	34.1	32.6
Shares, diluted (weighted)	37.1	35.7	34.4	33.1	31.4	39.7	38.1	36	34.2	32.7
Dividend per share	0.89	1.00	1.28	1.74	2.05	1.88	2.20	2.60	3.30	4.16

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	212	280	262	257	548	393	489	594	688	756
Short-term investments			8.17
Property, plant and equipment	27.5	28.1	36	46.1	57.7	67	52.7	37.6	40.7	39.8
Lease right-of-use assets				47.3	46.6	47.9	40.5	51.5	47	41.9
Goodwill						179	128	128
Intangible assets	54.9	51.5	48.1	45.3	45.3	196	186	45.3	45.3	45.3
Total assets	11,439	12,461	12,595	13,689	14,905	16,196	14,641	15,028	14,582	15,012
Deferred revenue		15.4	15.6	15.5	17.1	16.4	15.4	14.9	15.6	15.5
Total liabilities	10,218	11,042	11,134	12,036	13,069	14,033	12,610	12,962	12,323	12,566
Paid-in capital	52.5					5.22
Retained earnings	1,139	1,375	1,490	1,593	1,706	2,005	2,154	2,277	2,231	2,416
Shareholders' equity	1,221	1,419	1,462	1,652	1,836	925	2,031	2,066	2,259	2,446
Total equity	1,221	1,419	1,462	1,652	1,836	925	2,031	2,066	2,259	2,446
Total liabilities and equity	11,439	12,461	12,595	13,689	14,905	16,123	14,641	15,028	14,582	15,012
Shares outstanding	35.8	34.6	33.4	32.2	30.7	39.4	36.8	35	33.4	31.8

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	219	350	324	366	386	476	467	577	471	751
Depreciation and amortization	14.6	13.6	12.4	18.3	17.7	29.8	34.2	32	23.4	19.3
Stock-based compensation	13.4	15.3	17.3	17.5	19	16.8	22.4	18.9	25.1	24.6
Deferred income tax	44.3	-53.8	2.59	-0.84	0.27	2.76	-52.3	-45	-31.8	-29.6
Cash from operations	294	392	478	486	643	657	758	693	862	901
Acquisitions						-494	3.87
Purchases of investments	-386	-430	-627	-633	-522	-902	-580	-412	-664	-690
Sales and maturities of investments	255	223	362	404	429	454	360	263	421	454
Cash from investing	-47.9	-131	-233	-202	-53.5	-923	-200	-90.1	-232	-236
Debt issued						597
Debt repaid						-384
Share buybacks	-150	-150	-210	-225	-231	-18.8	-356	-375	-425	-450
Dividends paid	-33.4	-35.8	-44.1	-57.6	-64.3	-74.6	-83.8	-93.7	-113	-136
Cash from financing	-187	-193	-261	-290	-302	108	-458	-480	-551	-600
Exchange rate effect	0.57	1.2	-2.09	1.24	2.6	3.39
Net change in cash	59.7	68	-17.8	-5.26	291	-155	96.7	124	74.7	68.4
Interest paid	28	27.8	27.9	28.1	27.9	33.9	27.1	27.3	24.2	23.1
Income taxes paid	45.4	83.3	88.3	115	123	155	178	227	140	236

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $275.59 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	29.9%	Pre-tax income / revenue.
Net margin	23.1%	Net income / revenue.
Operating cash flow margin	26.0%	Cash from operations / revenue.
Effective tax rate	22.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	31.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.4%	Net income / average total assets.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	0.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	7.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	8.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	59.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	16.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	14.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	67.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	22.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	13.4%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	4.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	6.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	7.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	26.1%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	23.7%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	15.3%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	8.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	6.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	5.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	3.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	0.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	0.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-4.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-5.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	82.9%	Total liabilities / total assets.
Goodwill and intangibles / assets	0.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	$2.48B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.23x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$25.41	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$109.85	Revenue / diluted weighted shares.
Operating cash flow per share	$28.55	Cash from operations / diluted weighted shares.
Book value per share	$81.65	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$80.19	Tangible book value / shares outstanding.
Cash per share	$19.42	(Cash + short-term investments) / shares outstanding.
Payout ratio	18.0%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$8.48B	Share price x shares outstanding.
Enterprise value	$7.88B	Market cap + total debt - cash - short-term investments.
P/E	10.7x	Market cap / net income. Only when net income is positive.
P/S	2.47x	Market cap / revenue.
P/B	3.36x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.42x	Market cap / tangible book value, when positive.
P/OCF	9.51x	Market cap / cash from operations, when positive.
EV/Sales	2.30x	Enterprise value / revenue.
Earnings yield	9.4%	Net income / market cap (the inverse of P/E).
Dividend yield	1.7%	Dividends paid over the period / market cap.
Shareholder yield	7.3%	(Dividends paid + share buybacks) / market cap.
PEG	0.47x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Primerica, Inc.'s revenue in fiscal 2025?

Primerica, Inc. reported revenue of $3.29B for fiscal 2025, 6.6% higher than the year before.

Was Primerica, Inc. profitable in fiscal 2025?

Yes. Net income was $748.8M, a net margin of 22.7%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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