Primerica, Inc. (PRI) — Fundamental Analysis & Key Financial Ratios

Kaplio overview: Primerica, Inc.

Market cap $9B · 52 weeks $246 – $326 (14 % below the high) · P/E 11.3× · 2027 expected P/E 10.3× · Dividend 1.6 % · 11 years rising · Next earnings November 4, 2026 · expected EPS $6.40 · Closing price, Oct 30 · accounts published Aug 5.

• Valuation: P/B 3.5× (expensive).
• Business: 5-year op. margin 27.9 % (excellent).
• Balance sheet: Debt/Equity 0.25 (solid).
• Earnings: 8 of 8 (on track).

What would it be worth at its usual multiples?

At a P/B justified by its ROE 32.5 % (2.0×) $162 (-42 %); at its peers' median (0.9×) $77 (-73 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.

What matters in insurance: 4 of 5 pass

• P/B (Price / Book) 3.5×, fails.
• Op Margin 5y (Combined Ratio proxy) 27.9 %, passes.
• Book Value / Share growth 10.3 %, passes.
• Debt / Equity 0.25, passes.
• Dividend growth streak 11 años, passes, near the threshold.

Against its peers (reference peers) — Primerica, Inc.: P/E 11.3×; P/B 3.5×; ROE 32.5 %; $8.7B. Voya Financial, Inc. (P/E 16.6×; P/B 2.0×; ROE 12.6 %; $8.9B), Jackson Financial Inc. (P/E 173×; P/B 0.9×; ROE 1.0 %; $9.1B), Lincoln National Corporation (P/E 3.5×; P/B 0.7×; ROE 22.0 %; $7.9B).

Expensive or cheap against its last ten fiscal years?

P/B at each close: today 3.5× · median 3.5× · minimum 1.6× · maximum 5.3× · cheap below 3.2× · expensive above 4.0×. It has been cheaper than today only 46% of the time over its last ten fiscal years.

Dividend

solid · Yield 1.6 % ($4.17 per share in 2025) · Years raising it ≥ 11 · 5-year growth +21 % a year · Free cash flow coverage payout 18 % · With $1,000 invested today you'd collect $16.50 a year ($1.38 a month).