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Principal Financial Group, Inc. (PFG) vs Visa Inc. (V): Which Is the Better Buy in 2026?

As of 2026-06-19, PFG is undervalued at $110, with a DCF intrinsic value of $154 and a margin of safety of 29%. V is fairly valued at $327, with an intrinsic value of $304 and a margin of safety of -8%. Of the two, PFG has the wider margin of safety.

PFG
Principal Financial Group, Inc.
$109.57
VS
V
Visa Inc.
$327.24

Rewards

PFG
  • ★Free cash flow has grown at a 13.2% CAGR over the past 4 years, demonstrating strong earnings power growth.
  • ★Share count has been reduced by 11% over the past 4 years through buybacks, increasing each share's claim on earnings.
  • ★FCF yield of 18.8% is historically attractive — the business generates significant cash relative to its price.
V
  • ★Visa Inc. has maintained ROIC above 15% for 4 consecutive years, indicating a durable competitive advantage.
  • ★Gross margin of 97.8% indicates strong pricing power — typical of businesses with significant intellectual property or brand strength.
  • ★Visa Inc. scores 99/100 on the Economic Moat Score (Wide Moat), with roic consistency as the strongest competitive dimension.

Risks

PFG
  • ⚠Altman Z-Score of 0.15 places the company in the distress zone — financial patterns resemble those of companies that experienced bankruptcy.
  • ⚠Insiders have sold $2.9M worth of stock in the past 3 months — significant insider liquidation.
V
  • ⚠Insiders have sold $14.2M worth of stock in the past 3 months — significant insider liquidation.

Key Valuation Metrics

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PFG
V
Valuation
$4.44B
Free Cash Flow
$20.84B
18.75%
FCF Yield
3.35%
15.72
Trailing P/E
28.55
10.73
Forward P/E
22.02
Quality & Moat
10.91%
ROIC
38.39%
13.39%
ROE
60.35%
47.61%
Gross Margin
97.78%
1.06
PEG Ratio
1.46
Balance Sheet Safety
Net cash
Net Debt / Equity
0.28
N/A
Interest Coverage
N/A
-0.54
Net Debt / EBITDA
0.33
2.95%
Dividend Yield
0.80%
PFG: 7Ties: 1V: 4
PFGV

Historical Fundamentals

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PFG

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

V

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

$1 Retained Earnings Test

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PFG
$-0.89
created per $1 retained over 3 years
Market Cap Declined
Σ Retained
$1.41B
Δ Market Cap
$-1.26B
Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer
V
$5.50
created per $1 retained over 3 years
Exceptional Value Creator
Σ Retained
$44.47B
Δ Market Cap
+$244.54B
Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

Discounted Cash Flow (DCF) Analysis

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PFG
28.9% Margin of Safety
Price is 28.9% below estimated fair value
Current Price: $109.57
Fair Value: $154.00
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued
V
7.6% Overvalued
Price is 7.6% above estimated fair value
Current Price: $327.24
Fair Value: $304.21
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued

Reverse DCF — Market-Implied Growth

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PFG

What growth rate is the market pricing in at $110?

+5.3%
Market-Implied Owner Earnings Growth
Standard FCF implies -11.9%

The market implies +5.3% Owner Earnings growth, above historical trends.

Standard FCF implies a demanding -11.9%, reflecting heavy growth investment.

V

What growth rate is the market pricing in at $327?

+13.9%
Market-Implied Owner Earnings Growth
Standard FCF implies +13.4%

The market implies +13.9% Owner Earnings growth, above historical trends.

Standard FCF implies a demanding +13.4%, reflecting heavy growth investment.

Economic Moat Score

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PFG
49/100
Narrow Moat
70+ Wide · 40-69 Narrow · <40 None

Narrow moat with reinvestment efficiency as the key competitive advantage. Improving margin stability would strengthen the moat.

Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 4 years of fundamental data.
V
99/100
Wide Moat
70+ Wide · 40-69 Narrow · <40 None

Wide moat with strength across all dimensions. ROIC Consistency is the standout factor.

Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 4 years of fundamental data.

Forensic Accounting

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PFG
-2.51
Unlikely Manipulator
Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.
V
-2.50
Unlikely Manipulator
Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

Ownership Breakdown

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PFG
Insiders 1.1%Institutions 81.1%Retail & Other 17.8%
No. of Institutional Holders1,246
High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.
V
Insiders 0.1%Institutions 91.7%Retail & Other 8.2%
No. of Institutional Holders5,856
High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.

High insider ownership aligns management incentives with shareholders. Institutional concentration can indicate smart-money conviction but also crowding risk.

Insider Buying Activity

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PFG
0
Buys (3M)
1
Buys (12M)
Total value (12M): $873.00
MURUZABAL CLAUDIO
Director
$873.00
@ $87.30 · 2026-02-09
Open market purchases · includes direct & indirect ownership · excludes option exercises
V
0
Buys (3M)
0
Buys (12M)
No open market insider purchases found.
Open market purchases · includes direct & indirect ownership · excludes option exercises

Open market purchases · includes direct & indirect ownership · excludes option exercises.

Insider Selling Activity

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PFG
4
Sells (3M)
7
Sells (12M)
Total value (12M): $4.63M
CHEONG WEE YEE
Officer
$1.11M
@ $103.13 · 2026-05-21
CHEONG WEE YEE
Officer
$1.41M
@ $101.17 · 2026-05-01
DJURASOVIC GEORGE
General Counsel
$259,332
@ $100.87 · 2026-04-30
CHEONG WEE YEE
Officer
$109,080
@ $101.00 · 2026-04-29
STRABLE-SOETHOUT DEANNA D
Chief Executive Officer
$697,300
@ $95.00 · 2026-01-30
STRABLE-SOETHOUT DEANNA D
Chief Executive Officer
$884,616
@ $95.12 · 2026-01-29
CHEONG WEE YEE
Officer
$160,470
@ $85.04 · 2025-11-12
MURUZABAL CLAUDIO
Director
$350.00
@ $70.00 · 2025-04-21
Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives
V
2
Sells (3M)
17
Sells (12M)
Total value (12M): $53.88M
SUH CHRIS
Chief Financial Officer
$3.46M
@ $324.81 · 2026-05-12
MCINERNEY RYAN
Chief Executive Officer
$10.70M
@ $340.14 · 2026-04-29
CARNEY LLOYD A
Director
$201,253
@ $309.62 · 2026-03-11
MCINERNEY RYAN
Chief Executive Officer
$3.66M
@ $349.18 · 2026-01-02
ROTTENBERG JULIE B
General Counsel
$699,315
@ $345.00 · 2025-12-11
MCINERNEY RYAN
Chief Executive Officer
$3.57M
@ $340.07 · 2025-12-11
TANEJA RAJAT
Officer
$7.84M
@ $330.14 · 2025-12-02
FABARA PAUL D
Officer
$2.50M
@ $331.45 · 2025-12-02
TANEJA RAJAT
Officer
$2.08M
@ $330.00 · 2025-11-21
FABARA PAUL D
Officer
$707,917
@ $325.93 · 2025-11-21
CARNEY LLOYD A
Director
$302,832
@ $336.48 · 2025-11-04
MCINERNEY RYAN
Chief Executive Officer
$3.58M
@ $341.00 · 2025-11-03
MCINERNEY RYAN
Chief Executive Officer
$3.59M
@ $342.30 · 2025-10-01
MCINERNEY RYAN
Chief Executive Officer
$3.65M
@ $348.57 · 2025-09-02
ROTTENBERG JULIE B
General Counsel
$697,329
@ $344.02 · 2025-08-18
MCINERNEY RYAN
Chief Executive Officer
$3.60M
@ $343.13 · 2025-08-14
MCINERNEY RYAN
Chief Executive Officer
$3.05M
@ $353.82 · 2025-07-01
FABARA PAUL D
Officer
$4.36M
@ $375.00 · 2025-06-11
TANEJA RAJAT
President
$18.44M
@ $368.87 · 2025-06-05
FABARA PAUL D
Officer
$17.10M
@ $370.00 · 2025-06-05
MCINERNEY RYAN
Chief Executive Officer
$3.13M
@ $362.77 · 2025-06-02
FABARA PAUL D
Officer
$6.32M
@ $357.45 · 2025-05-12
FABARA PAUL D
Officer
$5.26M
@ $355.04 · 2025-05-08
ROTTENBERG JULIE B
General Counsel
$889,868
@ $345.58 · 2025-05-01
MCINERNEY RYAN
Chief Executive Officer
$2.98M
@ $345.58 · 2025-05-01
MCINERNEY RYAN
Chief Executive Officer
$3.02M
@ $350.44 · 2025-04-01
FABARA PAUL D
Officer
$13.40M
@ $340.41 · 2025-03-19
FABARA PAUL D
Officer
$12.88M
@ $327.20 · 2025-03-14
MCINERNEY RYAN
Chief Executive Officer
$3.13M
@ $363.00 · 2025-03-03
ANDRESKI PETER M
Officer
$815,314
@ $349.62 · 2025-02-07
MAHON TULLIER KELLY
Officer
$11.80M
@ $349.77 · 2025-02-07
ROTTENBERG JULIE B
General Counsel
$874,480
@ $340.00 · 2025-02-03
MCINERNEY RYAN
Chief Executive Officer
$2.93M
@ $340.00 · 2025-02-03
MCINERNEY RYAN
Chief Executive Officer
$2.74M
@ $317.78 · 2025-01-02
TANEJA RAJAT
Officer
$11.15M
@ $315.55 · 2024-12-13
MCINERNEY RYAN
Chief Executive Officer
$2.73M
@ $316.90 · 2024-12-02
FABARA PAUL D
Officer
$668,603
@ $307.97 · 2024-11-22
ROTTENBERG JULIE B
General Counsel
$741,996
@ $288.49 · 2024-11-01
MCINERNEY RYAN
Chief Executive Officer
$2.49M
@ $288.49 · 2024-11-01
MCINERNEY RYAN
Chief Executive Officer
$2.39M
@ $276.97 · 2024-10-01
MCINERNEY RYAN
Chief Executive Officer
$2.38M
@ $276.37 · 2024-09-03
ROTTENBERG JULIE B
General Counsel
$707,300
@ $275.00 · 2024-08-29
MCINERNEY RYAN
Chief Executive Officer
$2.37M
@ $275.00 · 2024-08-29
MAHON TULLIER KELLY
Officer
$10.12M
@ $267.64 · 2024-08-16
Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives

Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives.

🎭 Mr. Market's Mood

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PFG
FearGreed
😏Greed(69/100)

"Market is optimistic — be cautious and ensure you have a margin of safety"

Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.
V
FearGreed
😐Neutral(57/100)

"Market is pricing this stock without strong emotion in either direction"

Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

Composite sentiment score based on market signals. Inspired by Buffett’s "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

⚖️ Buffett Signal

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PFG
⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Greed (69)
V
⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Neutral (57)
View PFG Full AnalysisView V Full Analysis

Frequently Asked Questions: PFG vs V

Is Principal Financial Group, Inc. or Visa Inc. more undervalued in 2026?▼

Based on our discounted cash flow model, PFG trades at a 28.9% margin of safety (intrinsic value $154 vs. price $110), compared to V's -7.6% margin of safety (intrinsic $304 vs. $327).

Which stock has a wider economic moat, Principal Financial Group, Inc. or Visa Inc.?▼

V scores 99/100 (Wide moat), while PFG scores 49/100 (Narrow moat). The moat score measures competitive advantage durability across ROIC consistency, margin stability, revenue predictability, and reinvestment efficiency.

Is Principal Financial Group, Inc. in financial distress?▼

PFG's Altman Z-Score of 0.1 places it in the Distress zone, signaling elevated bankruptcy risk. V scores 8.1 (Safe zone). The Altman Z-Score is a five-factor model that predicts insolvency within two years; scores below 1.81 indicate significant distress.

Which company has better free cash flow, Principal Financial Group, Inc. or Visa Inc.?▼

Principal Financial Group, Inc. (PFG) generates a 18.8% free cash flow yield, compared to Visa Inc.'s 3.3%. A higher FCF yield means the business converts more of its market value into cash that can be returned to shareholders or reinvested.

Which stock has higher return on invested capital, Principal Financial Group, Inc. or Visa Inc.?▼

V earns 38.4% ROIC versus PFG's 10.9%. A higher ROIC means the company generates more profit per dollar of capital employed, a hallmark of durable competitive advantage in Buffett-style analysis.

Which dividend is safer, Principal Financial Group, Inc.'s or Visa Inc.'s?▼

V's dividend earns a safety score of 94/100 (Very Safe), compared to PFG's 84/100 (Very Safe). V has raised its dividend for 3 consecutive years.