At a glance
Prudential Financial Inc is worth $40.81B, about 12 times its fiscal 2025 earnings. Revenue fell 13.7% to $60.77B in fiscal 2025, with 5.9% kept as profit; over 3 years it has grown 2.2% a year. It pays a 4.99% dividend yield, raised every year for at least 9 years, and returned $16.29B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +20.1% over the past year with dividends reinvested and +6.4% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 58.2% in the 2020 crash (S&P 500: 33.7%) and 27.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 11 months and 17 months after the lows.
The business in plain English
Prudential Financial is an insurer and investment manager based in Newark, New Jersey, with operations in the United States, Asia, Europe and Latin America. It offers life insurance, annuities (contracts that turn savings into income), retirement products, mutual funds and investment management to individuals and institutions. Like other insurers, it collects premiums and invests them until benefits come due, earning income in the meantime. As of December 31, 2025, it managed about $1.609 trillion of assets.
PGIM, its investment arm, earns mostly fees charged as a percentage of the assets it manages across bonds, private credit, stocks and real estate. It also earns performance fees when it beats agreed benchmarks. The U.S. businesses are Retirement Strategies, Group Insurance and Individual Life. In pension risk transfer, Retirement Strategies takes on an employer's pension promises in return for a lump-sum premium. It also offers annuities, such as the FlexGuard line, mainly to households with investable assets or income above $100,000.
Revenue was $60.8 billion in fiscal 2025. Of that, 60.6% came from the United States, 22.2% from Japan and 17.3% from other countries. Prudential converted from a policyholder-owned mutual insurer to a shareholder-owned company in 2001. It still keeps older policies from that time in a separate Closed Block. It also owns about 20% of Prismic, the parent of a Bermuda reinsurer (an insurer for insurers).
Price history
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PRU +20.1% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By geography
| UNITED STATES | $36.80B | 60.6% |
| Japan | $13.49B | 22.2% |
| Other Countries | $10.49B | 17.3% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $15.66B, up 14.1% from a year earlier, and net income was $985.0M (+84.8%).
- For fiscal 2025, revenue was $60.77B (-13.7% year over year; +2.2% a year from FY2022 to FY2025) with a 5.9% net margin.
Financial health check
| Revenue growth a year (FY2022–FY2025) | +2.2% watch |
|---|---|
| Return on equity (FY2025) | 11% watch |
| Return on assets (FY2025) | 0.5% weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $57.03B | $-374.0M | — |
| FY2021 | $71.25B | $8.87B | — |
| FY2022 | $56.88B | $-1.65B | — |
| FY2023 | $53.98B | $2.49B | — |
| FY2024 | $70.41B | $2.73B | — |
| FY2025 | $60.77B | $3.58B | — |
Valuation snapshot
| Market value | $40.81B |
|---|---|
| P/E ratio | 11.8 |
| Dividend yield | 4.99% |
Rank among 1514 US companies
Market value at each year end
Prudential Financial’s market value went from $45.68B at the end of 2016 to $40.81B on Nov 2, 2026, down 11%; since the end of 2025 it is up 3%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $40.81B | +3.3% |
| 2025 | $39.51B | -6.4% |
| 2024 | $42.20B | +12.7% |
| 2023 | $37.44B | +2.3% |
| 2022 | $36.60B | -10.5% |
| 2021 | $40.91B | +32.3% |
| 2020 | $30.92B | -18.0% |
| 2019 | $37.68B | +11.9% |
| 2018 | $33.68B | -31.4% |
| 2017 | $49.10B | +7.5% |
| 2016 | $45.68B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| PRU price data to Nov 2, 2026 | +9.2% | +20.1% | +14.4% | +6.4% | +8.4% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +9.2% |
| 2025 | +0.1% |
| 2024 | +19.5% |
| 2023 | +10.1% |
| 2022 | -3.9% |
| 2021 | +45.2% |
| 2020 | -11.5% |
| 2019 | +20.1% |
| 2018 | -26.5% |
| 2017 | +13.6% |
| 2016 | +32.5% |
| 2015 | -7.3% |
| 2014 | +0.6% |
| 2013 | +77.1% |
| 2012 | +9.9% |
| 2011 | -12.1% |
| 2010 | +20.5% |
| 2009 | +66.9% |
| 2008 | -66.1% |
| 2007 | +9.7% |
| 2006 | +18.7% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 87.7% over that stretch · deepest drop along the way 88.2%, back to its old high 56.1 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 57.9% over that stretch · deepest drop along the way 58.2%, back to its old high 11.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 15.1% over that stretch · deepest drop along the way 27.4%, back to its old high 17.2 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (22 read): 0 open-market purchases and 1 sales ($957K).
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 14, 2026 | Ann M Kappler EVP and General Counsel | sell | $957K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.51% | Mar 31, 2026 |
ETFs with the most weight in PRU
| IAK iShares U.S. Insurance ETF | 4.21% |
| BAMD Brookstone Dividend Stock ETF | 3.27% |
| ACSI American Customer Satisfaction ETF | 3.07% |
| FLCV Federated Hermes MDT Large Cap Value ETF | 2.24% |
| FLCC Federated Hermes MDT Large Cap Core ETF | 1.75% |
| JHDV John Hancock U.S. High Dividend ETF | 1.71% |
| SPVM Invesco S&P 500 Value with Momentum ETF | 1.61% |
| DVY iShares Select Dividend ETF | 1.51% |
What could go wrong
- Annuity guarantees can bite when markets fall. Some variable annuities and certain life and international policies promise minimum benefits. When markets drop or rates move sharply, the cost of honoring those guarantees rises, which can cut earnings and make results more volatile.
- People may live longer or claim more. Prudential's pricing relies on assumptions about deaths, illness and customer behavior. Pension deals and longevity reinsurance cost more if retirees live longer than expected, and its ability to reprice existing products is limited.
- Japan, currency and foreign government risk. Japan supplied 22.2% of fiscal 2025 revenue. Currency swings can shrink overseas earnings in dollars, and government actions, particularly in emerging markets, could hurt the value of foreign businesses.
- Reinsurers and trading partners could fail to pay. Prudential passes some risk to reinsurers, such as Prismic Re, a partly owned affiliate, and uses derivatives. If a partner weakens, Prudential may have to take liabilities back and hold more capital.
- Losses in a large investment portfolio. Prudential invests policyholder premiums in bonds, commercial mortgages, private equity, hedge funds and real estate. Defaults or falling values could hurt earnings and capital, and some holdings are hard to turn into cash quickly at full value.
- Interest rate and market swings. Prudential's promises to customers can last decades. If rates shift and its investments don't line up with those obligations, losses can follow. Falling markets also shrink PGIM's fees, which are tied to asset values.
Recent events
- Investor presentation or announcement; Other company announcement
- Quarterly results released; Investor presentation or announcement
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Shareholder vote results
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
For income and retirement investors
Prudential has raised its dividend for at least 9 consecutive years through fiscal 2025, and the true streak may be longer. Dividends per share grew from $4.40 in fiscal 2020 to $5.40 in fiscal 2025, about 4.2% a year. They still rose in fiscal 2020 and 2022, when the company reported net losses. The fiscal 2025 dividend took 53.9% of earnings, and the yield was 5.11% as of October 28, 2026. From fiscal 2021 to 2025, Prudential spent $7 billion on buybacks and $9.3 billion on dividends. Its share count fell 8.7% between October 2021 and July 2026.
The shares have fallen hard in past crises. They dropped 88.2% in the 2008 financial crisis and took about 56 months from the low to recover. They fell 58.2% in the 2020 COVID crash (about 11 months to recover) and 27.4% in the 2022 bear market (about 17 months). Like any single stock, Prudential carries more risk than a diversified fund.
Questions investors ask
How does Prudential Financial make money?
Prudential makes money from insurance, retirement products and investment management. Its insurance and annuity businesses collect premiums and fees, then earn income by investing that money until benefits are paid. Its PGIM unit charges fees based on a percentage of the assets it manages, plus performance fees when it beats benchmarks. It managed about $1.609 trillion of assets as of December 31, 2025. Fiscal 2025 revenue was $60.8 billion and net income was $3.58 billion.
Does Prudential raise its dividend every year?
Yes, so far. Prudential has raised its dividend for at least 9 consecutive years through fiscal 2025, and the true streak may be longer. Dividends per share rose from $4.40 in fiscal 2020 to $5.40 in fiscal 2025, about 4.2% a year. It kept raising the payout even in fiscal 2020 and 2022, when it reported net losses. Past increases do not guarantee future ones.
What is Prudential's dividend yield?
Prudential's dividend yield was 5.11% as of October 28, 2026. The yield is a year's dividends divided by the share price. In fiscal 2025 it paid $5.40 per share, which took 53.9% of earnings and left the rest for reinvestment and buybacks. On the same date, the shares traded at about 11.5 times fiscal 2025 earnings. The yield comes with single-stock risk: the shares fell 58.2% in the 2020 COVID crash.
How much of Prudential's revenue comes from Japan?
About 22.2% of Prudential's fiscal 2025 revenue came from Japan, or $13.5 billion out of $60.8 billion. The United States supplied 60.6% and other countries 17.3%. This overseas business adds currency risk. The 10-K warns that losses can follow when exchange rates move, because some assets are in a different currency from the liabilities they back and some foreign earnings are not hedged. Government actions abroad, especially in emerging markets, are another listed risk.
How much did Prudential stock fall in 2008?
Prudential shares fell 88.2% during the financial crisis, from their October 12, 2007 peak to their March 5, 2009 low. For calendar 2008 alone, the stock lost 66.1%. It did not get back to its old high until November 8, 2013, about 56 months after the low. It has fallen sharply in later slumps too. It dropped 58.2% in the 2020 COVID crash and took about 11 months to recover.