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Insurance - Life · Financial Services · Fiscal year ends Dec 31
Primerica reported revenue of $3.3B in the fiscal year ended Dec 2025, up 6.6% from the year before. Operating income was $999M, an operating margin of 30.3%, and net income was $751M.
Ranks among the 19 insurance - life companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 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 | – | – |
| Operating incomederived: pre-tax income + interest | 674 | 746 | 798 | 964 | 999 |
| Interest expense | 30.6 | 27.2 | 26.6 | 25.0 | 24.0 |
| Pre-tax income | 644 | 719 | 772 | 939 | 975 |
| Income tax | 168 | 164 | 181 | 219 | 223 |
| Net income | 477 | 472 | 577 | 471 | 751 |
| Diluted EPS | 11.99 | 12.33 | 15.94 | 13.71 | 22.91 |
| Diluted shares | 39.7 | 38.1 | 36.0 | 34.2 | 32.7 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 393 | 489 | 594 | 688 | 756 |
| Net PP&E | 67.0 | 52.7 | 37.6 | 40.7 | 39.8 |
| Goodwill | 179 | 128 | 128 | – | – |
| Total assets | 16,196 | 14,641 | 15,028 | 14,582 | 15,012 |
| Deferred revenue | 16.4 | 15.4 | 14.9 | 15.6 | 15.5 |
| Total liabilities | 14,033 | 12,610 | 12,962 | 12,323 | 12,566 |
| Shareholders' equity | 925 | 2,031 | 2,066 | 2,259 | 2,446 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 657 | 758 | 693 | 862 | 901 |
| Depreciation & amortisation | 29.8 | 34.2 | 32.0 | 23.4 | 19.3 |
| Stock-based compensation | 16.8 | 22.4 | 18.9 | 25.1 | 24.6 |
| Acquisitions | 494 | −3.9 | – | – | – |
| Share buybacks | 18.8 | 356 | 375 | 425 | 450 |
| Dividends paid | 74.6 | 83.8 | 93.7 | 113 | 136 |
| Dividend per share | 1.88 | 2.20 | 2.60 | 3.30 | 4.16 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −1.9% | 3.4% | 12.4% | 6.6% |
| Operating income growth (YoY) | – | 10.6% | 7.0% | 20.8% | 3.6% |
| EPS growth (YoY) | – | 2.8% | 29.3% | −14.0% | 67.1% |
| Gross margin | 98.1% | 97.4% | 98.0% | – | – |
| Operating margin | 24.9% | 28.1% | 29.0% | 31.2% | 30.3% |
| Net margin | 17.6% | 17.8% | 21.0% | 15.2% | 22.8% |
| Return on equityBlank when equity is negative | 51.6% | 23.2% | 27.9% | 20.8% | 30.7% |
| Cash conversion (CFO ÷ net income) | 1.38x | 1.60x | 1.20x | 1.83x | 1.20x |
| Interest cover | 22.0x | 27.4x | 30.0x | 38.5x | 41.7x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.