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PUK

Prudential plc

PUK

Prudential plc • NYSE
$29.39 ▲ 2.12% (+0.61)
Market Cap $38.34 B
52w High $29.39
52w Low $14.39
Dividend Yield 0.48%
P/E 11.44
Volume 387.18K
Outstanding Shares 1.30B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $12.682B ▲ $0 $1.295B ▼ 10.212% ▼ $1 ▼ $8.04B ▲
Q4-2024 $5.389B ▲ $0 $2.143B ▲ 39.769% ▲ $1.28 ▲ $2.078B ▼
Q2-2024 $4.212B ▼ $0 $94.928M ▼ 2.254% ▼ $0.069 ▼ $3.313B ▲
Q4-2023 $4.408B ▲ $0 $593.814M ▼ 13.472% ▼ $0.44 ▼ $1.287B ▼
Q2-2023 $4.267B $0 $743.334M 17.42% $0.54 $1.617B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $5.636B ▲ $199.119B ▲ $179.675B ▲ $18.119B ▲
Q4-2024 $2.445B ▼ $181.876B ▲ $163.202B ▲ $17.492B ▲
Q2-2024 $4.729B ▲ $174.687B ▲ $157.451B ▲ $16.171B ▼
Q4-2023 $1.59B ▼ $174.066B ▲ $156.083B ▲ $17.823B ▲
Q2-2023 $5.92B $165.458B $148.147B $17.159B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $1.295B ▼ $697.948M ▼ $-296.527M ▲ $-738.292M ▲ $-136M ▲ $650.544M ▼
Q4-2024 $2.143B ▲ $1.348B ▼ $-580.478M ▼ $-1.017B ▼ $-206M ▼ $1.238B ▼
Q2-2024 $120M ▼ $2.099B ▲ $-270M ▲ $-497M ▼ $1.227B ▲ $1.698B ▲
Q4-2023 $593.814M ▼ $-524.1M ▼ $-418.503M ▼ $-242.428M ▲ $-1.169B ▼ $-361.622M ▼
Q2-2023 $743.334M $997.674M $45.671M $-692.151M $4.662B $983.5M

Five-Year Company Overview

Income Statement

Income Statement Prudential’s recent income statement shows a business that went through a period of accounting volatility and losses but has now moved back to more stable profitability. Revenue has swung sharply over the past five years, which is common for life insurers because investment market movements and valuation changes can heavily distort reported top-line figures. The more telling signs are that operating profit has been consistently positive except during the worst of the disruption, and net income has been solidly positive again for the last two years after a difficult patch. Earnings per share have recovered from prior losses, suggesting that the refocus on Asia and Africa and post‑demerger structure is now translating into clearer, more sustainable profit, even if reported revenue will likely remain choppy due to the nature of the business.

Balance Sheet

Balance Sheet The balance sheet looks leaner and more focused than a few years ago, reflecting the exit from UK and US operations and concentration on Asia and Africa. Total assets have reduced significantly from earlier levels, but that is mainly strategic reshaping rather than a sign of distress. Debt has been edging down over time, while shareholders’ equity has stayed relatively steady, which points to a broadly stable capital base with slightly improving leverage. Cash on hand is modest for a group of this size, but insurers typically hold most of their value in investment portfolios rather than plain cash, matched to long-term policy obligations. Overall, the balance sheet appears sound for a life insurer: not aggressively geared, but still dependent on careful asset–liability management and regulatory capital oversight.

Cash Flow

Cash Flow Cash generation has improved meaningfully in the most recent year. Operating cash flow moved from fairly weak levels in the earlier part of the period to a much stronger inflow recently, indicating better conversion of accounting profits into actual cash. Free cash flow has followed the same pattern, turning into a healthy surplus after several years of only modest positive flows. Capital spending is small and very manageable, which fits a business that is more about people, technology, and distribution than heavy physical assets. The main watchpoint is that life insurance cash flows can be lumpy and influenced by new business strain, regulatory changes, and investment conditions, so the strong recent numbers are encouraging but may not be perfectly smooth year to year.

Competitive Edge

Competitive Edge Prudential holds a strong competitive position built around a long-standing brand, trust in an industry where confidence is critical, and a wide distribution footprint across Asia and parts of Africa. Its combination of a large agency force and deep bancassurance relationships with many banks gives it broad access to customers and multiple ways to sell products. The strategic shift away from mature Western markets towards faster-growing Asian and African economies is a key differentiator, tapping into rising incomes and relatively low existing insurance coverage. Scale and regulation in life insurance also create natural barriers to new entrants. On the risk side, heavy exposure to emerging markets brings sensitivity to local regulation, politics, and economic cycles, and competition from both global peers and strong local insurers is intense, so execution in these chosen markets remains crucial.

Innovation and R&D

Innovation and R&D Innovation at Prudential is focused more on digital capabilities and data than on traditional brick-and-mortar expansion. Its Pulse app and related digital platforms aim to create a combined health, wellness, and financial ecosystem that keeps customers engaged beyond basic insurance transactions. The company is rolling out many AI use cases across underwriting, claims, and agent support, which, if executed well, can reduce costs, speed up processes, and improve customer experience. Technology is also being used to strengthen relationships with bank partners and enhance wealth and asset management offerings, particularly in Asia. Most of this “R&D” spending shows up in operating expenses rather than capital expenditure, so it won’t be obvious in standard capex figures. The opportunity is to turn these digital investments into higher customer retention and more cross-selling; the risk is that competitors are pursuing similar strategies and that large-scale tech projects can overrun or underdeliver.

Summary

Overall, Prudential today looks like a streamlined, Asia‑ and Africa‑focused life insurer that has moved past a volatile restructuring phase into a more stable, profitable footing. Its financials show recovered earnings, a solid and not overly stretched balance sheet, and recently much stronger cash generation, although reported revenue and profits will likely remain influenced by market swings and complex insurance accounting. Strategically, its edge lies in a strong brand, extensive distribution, and early positioning in high-growth markets, enriched by a clear push into digital and AI-enabled services. Key uncertainties revolve around execution of its technology strategy, managing risks in emerging markets, regulatory changes, and the usual sensitivity of an insurer’s results to investment markets and long-term assumptions. For an observer, this is a business that appears financially sound and strategically ambitious, but one where careful monitoring of execution and risk management remains essential.

NEWS

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