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Prudential FinancialPRU

Legal name
Prudential Financial, Inc.
Sector
Financial Services
Industry
Life Insurance
Exchange
NYSE

Stock Price $PRU

Latest filings

You are here#45 of 80 in Financials by market cap

Filing record · 2016–202610-K1110-Q328-K198

PRU filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 198 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Dec ’17Dec ’17
  2. Leadership change8-K · Feb ’20Feb ’20
  3. Deal closed8-K · Apr ’22Apr ’22
  4. Leadership change8-K · Dec ’25Dec ’25

01—Key figures

Share Class
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $60.77B
YoY changeLargest recent move+30.4%in FY24Latest −13.7%

2 older moves run past ±50% (largest +72.9%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All PRU Financial Metrics43 metrics

Income Statement12

Balance Sheet15

Cash Flow11

Per Share5

02—Overview

Prudential Financial Financial Overview 2021–2025

Updated Nov 4, 2026

Prudential swung from a $1.44 billion net loss in FY2022 to $3.58 billiona of net income in FY2025, and the market closed FY2025 at $112.88, only 11.3x earnings. That gap between recovering profit and a modest multiple is the story. Earnings have rebuilt even as the business shrinks and simplifies, but a Japan scandal now clouds the next leg.

Over the full arc, net income attributable to shareholders went from $7.72 billionb in FY2021, a year flattered by investment gains, to $3.58 billion in FY2025. Revenue fell from $70.93 billion to $60.77 billion over the same stretch. Yet the quality of earnings improved. Adjusted operating income before taxes dropped to $4.65 billion in FY2022, and after-tax adjusted operating income reached $5.16 billion in FY2025. Diluted EPS rose from $7.50 in FY2024 to $9.99. Assets under management grew to $1.609 trillion at year-end FY2025 from $1.377 trillion in FY2022. Capital returns stayed steady: $1.93 billion of dividends declared in FY2025, plus a $1.0 billion buyback authorization for 2026.

The risk is concentrated. Prudential of Japan's new-sales suspension now runs to January 31, 2027, and management estimates a $525 to $575 millionc hit to 2026 pre-tax adjusted operating income. Q1 2026 net income slipped to $597 million from $707 million, though Q2 2026 rebounded to $985 million. Fitch moved its outlook to Ratings Watch Negative. Against that, the planned $4.025 billion sale of the Brazil and Mexico units funds a narrower, developed-market focus.

Recent Developments (Q1 and Q2 2026)

Prudential's Q2 2026 recovery came with a one-time hit: a $299 milliond after-tax charge from the annual assumption update. Even so, after-tax adjusted operating income rose to $1.438 billion from $1.284 billion, and PGIM adjusted operating income climbed to $294 million from $229 million. In Q1 2026, premiums jumped to $8.36 billion on pension risk transfer, but pre-tax income fell to $733 million from $920 million on Japan remediation costs. In August, management announced an exit from emerging markets, targeting $750 million in annual expense cuts by year-end 2028. Japan's investigation found the misconduct was structural.

The bull case: the stock traded at 11.4x earnings as of the Q2 2026 filing date, August 4, 2026, while adjusted book value per share rose to $100.91e. The bear case: Japan's suspension also reaches Gibraltar Life's Life Consultant channel, and Q3 carries about $140 million of Japan suspension cost.

What to watch: Japan improvement plans due end of November 2026; Q3 2026 results due November 3, 2026

03—Filings

Recent SEC Filings

  1. 8-KPrudential Financial 8-K Report, Financial Results (Nov 3, 2026)
  2. 8-KPrudential Financial 8-K Report, Regulation FD Disclosure (Oct 20, 2026)Prudential Financial, Inc. (NYSE: PRU) announced on October 20, 2026 that it has entered into definitive agreements to sell 100% of its equity interests in Prudential do Brasil Seguros S.A. (Prudential of Brazil) and Prudential Seguros Mexico, S.A. de C.V. (Prudential of Mexico) to the CNP Assurances Group, for an aggregate purchase price of approximately $4.025 billion in cash, subject to certain closing adjustments. The Brazilian business is being sold to CNP Seguradora, CNP Assurances' Brazilian subsidiary, and the Mexican business to CNP Assurances Holding. The transaction is expected to close in the second half of 2027, subject to regulatory approvals and customary closing conditions. Prudential states it intends to use the proceeds to support its capital allocation priorities and to invest in its highest-priority growth opportunities in retirement, asset management and select protection businesses in the U.S., Japan and select European markets. The sale advances Prudential's stated plan to exit emerging markets and narrow its geographic footprint. The company notes it follows the earlier sale of its interests in several joint ventures, including PT PFI Mega Life Insurance in Indonesia, Alexforbes in South Africa, and ICEA LION in Kenya, with the ICEA LION transaction closing on October 13.
  3. 8-KPrudential Financial 8-K Report, Financial Results (Oct 15, 2026)Prudential Financial, Inc. (PRU) filed this Form 8-K on October 15, 2026 to furnish preliminary, unaudited financial information for the quarter ended September 30, 2026, ahead of its quarterly earnings release scheduled for November 3, 2026, and to disclose segment reporting changes tied to its International Businesses segment. The company reported PGIM assets under management of $1.47 trillion at September 30, 2026, and PGIM other related revenues, net of related expenses, of approximately $20 million on an adjusted operating income basis. It estimated General Account alternative investment income to be approximately $15 to $35 million above its near-term expectations, and estimated that the Prudential of Japan sales suspension reduced Japan Businesses pre-tax adjusted operating income by approximately $140 million, including one-time costs tied to Life Planner compensation, lost sales and surrenders. The company stresses that these figures are estimates, have not completed financial closing procedures, and could differ materially from final results. Effective in the third quarter of 2026, Prudential announced in August 2026 its intent to exit certain emerging markets businesses. As a result, the operations of certain businesses, including Brazil and Mexico, moved into Divested and Run-off Businesses within Corporate and Other, and the former International Businesses segment was renamed Japan Businesses. The company's indirect 40% interest in Administradora de Fondos de Pensiones Habitat S.A. moved into the Retirement segment. These changes are applied retrospectively and do not affect previously issued consolidated financial statements. Exhibit 99.1 furnishes a revised second quarter 2026 Quarterly Financial Supplement showing the restated historical results, with updates highlighted in yellow. The filing is furnished under Regulation FD, is not deemed filed under Section 18 of the Exchange Act, and is accompanied by forward-looking statement cautions. For investors, the most material items are the Japan sales suspension impact of approximately $140 million and the revised segment structure, which changes how the Japan, Retirement and corporate results should be compared with prior periods.
  4. 8-KPrudential Financial 8-K Report, Regulation FD Disclosure (Oct 9, 2026)Prudential Financial, Inc. (NYSE: PRU) filed this Form 8-K on October 9, 2026, under Item 7.01 (Regulation FD Disclosure) to furnish a news release (Exhibit 99.1) updating investors on regulatory orders issued by Japan's Financial Services Agency (FSA) affecting its Japan businesses. The FSA issued business suspension and business improvement orders to The Prudential Life Insurance Company, Ltd. (Prudential of Japan, POJ), business improvement and partial business suspension orders to Gibraltar Life Insurance Company, Ltd. (Gibraltar), and a business improvement order to Prudential Holdings of Japan, Inc. (PHJ). The POJ business suspension extends the period in which POJ cannot solicit new business to January 31, 2027. The partial suspension at Gibraltar applies to its Life Consultant channel, not its independent agency channel, through the same date. The orders require PHJ, POJ and Gibraltar to submit business improvement plans to the FSA by the end of November 2026 and to report progress regularly. The companies state that POJ and Gibraltar remain financially sound and able to meet their obligations, and that the parent continues to provide full support and resources. The suspension does not apply to Prudential's other Japan business units, including Prudential Gibraltar Financial Life (PGFL). The filing references a Special Investigation Committee investigation previously disclosed on October 8, 2026, and FSA inspection findings that examined conditions contributing to misconduct at POJ. Management scheduled a conference call on October 9, 2026 at 8:00 a.m. ET to discuss the orders, the estimated financial impacts, and the path ahead. The release does not quantify financial impacts in the text provided in this filing; investors should refer to the call and related materials on the Investor Relations website.
  5. 8-KPrudential Financial 8-K Report, Regulation FD Disclosure (Oct 8, 2026)Prudential Financial, Inc. (PRU) filed this Form 8-K on October 8, 2026, under Item 7.01 (Regulation FD Disclosure) to furnish two press releases from its Japanese subsidiaries relating to previously disclosed employee misconduct in Japan. The first, from Prudential Life Insurance Co., Ltd. (Prudential of Japan), publishes the public version of the Special Investigation Committee's report. The report describes the misconduct as a structural problem arising from the management framework and business model, not isolated acts by individual sales employees. The company acknowledges that management failed to translate earlier recognition of these issues into fundamental reform. The report also refers to suspected inappropriate conduct in insurance solicitation, which the company is reviewing through a Self-Review. The second release, from Prudential Holdings of Japan, Prudential of Japan and Gibraltar Life, updates customer reimbursement progress as of September 16, 2026. Of the 498 individuals covered by the January 16 disclosure, reviews or reimbursements are complete for 492, representing claims of 3.08 billion yen. Six individuals (3 million yen) remain under review. The Customer Reimbursement Committee has also reviewed 848 other inquiries, of which 329 (2.57 billion yen) were eligible for reimbursement. The filing states that disciplinary actions against 146 sales employees were completed by April 2026, and that the current President and Vice Presidents will voluntarily return 30% of monthly remuneration for three months. The company also describes a series of reforms, including a revised compensation system, a shift to a new agency structure (139 agencies to be reduced to 40 to 50), and continued suspension of new sales recruitment. The filing is primarily informational. It does not contain financial results, and the company states that decisions on resuming new business sales activities and on further management responsibility measures remain pending.
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04—See also

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