7Baggers

Prudential plc
(NYSE:PUK) 

PUK stock logo

Prudential plc, through its subsidiaries, provides life and health insurance, and retirement and asset management solutions to individuals in Asia, the United States, and Africa. It offers health and protection, as well as savings products, such as participating, linked, and other traditional produc...

Founded: 1848
Full Time Employees: 18,125
Sector: Financial Services
Industry: Insurance-Life
Insurance
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• Market Cap:
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2025-06-30 2024-08-28 2024-03-20 2023-08-30 2023-03-20 2022-12-31 2022-08-10 2022-06-30 2022-03-15 2022-03-09 2021-12-31 2021-08-11 2021-08-06 2021-06-30 2021-03-09 2020-08-11 2020-03-11 2020-03-03 2019-09-25 2019-08-14 2019-03-13 2019-03-11 2018-03-13 
                             
        assets
      		                       
        goodwill
      		 819  879 896 890 871 871 890 907 907 926  926 907 942 969 961 1,355 510 1,857 969 1,857 
        other intangible assets
      		 3,758  3,686 3,986                   
        property, plant and equipment
      		 390  396 374 419 405 405 419 478 478 525 309 525 478 964  893 1,433  1,409  1,409 
        insurance contract assets
      		 1,131  1,167 1,180                   
        reinsurance contract assets
      		 3,200  2,023 2,426                   
        deferred tax assets
      		 155  168 156 310 378 378 310 266 266 298 4,542 298 266 4,259 4,075 4,858 118 2,762 2,595 4,075 2,595 
        current tax recoverable
      		 25  25 34 18 22 22 18 20 20 23 433 23 20 387 492 444 279 371 618 492 618 
        investments in joint ventures and associates accounted for using the equity method
      		 1,781  2,078 1,940 1,915 2,010 2,010 1,915 2,183 2,183 2,056  2,056 2,183 1,507 1,500 1,962    1,500  
        investment properties
      		 3  38 39 37 35 35 37 38 38 39 7 39 38 23 25 23 18,634 11 17,925 25 17,925 
        loans
      		 543  574 578 2,536 2,429 2,429 2,536 2,562 2,562 2,440 12,340 2,440 2,562 14,910 16,583 14,588 5,535 12,513 18,010 16,583 18,010 
        equity securities and holdings in collective investment schemes note
      		 73,110   64,753                   
        debt securities note
      		 74,543   83,064                   
        derivative assets
      		 276  458 1,855 569 182 182 569 481 481 485 2,220 485 481 2,459 1,745 2,599 2,883 1,222 3,494 1,745 3,494 
        deposits
      		 5,284  5,056 5,870 6,275 4,762 4,762 6,275 4,741 4,741 3,344 7 3,344 4,741 3,351 2,615 3,882 16,792 1,491 11,796 2,615 11,796 
        accrued investment income
      		 960  1,017 1,003 1,135 1,187 1,187 1,135 1,171 1,171 1,092 378 1,092 1,171 1,517 1,641 1,427 1,445 1,332 2,749 1,641 2,749 
        other debtors
      		 2,440  1,035 1,161 1,694 2,076 2,076 1,694 1,779 1,779 2,238 270 2,238 1,779 3,211 2,054 3,171 1,770 2,011 4,088 2,054 4,088 
        assets held for sale
      		 291                 10,170     
        cash and cash equivalents
      		 5,978  5,920 4,751 5,514 6,415 6,415 5,514 7,170 7,170 6,295 1,621 6,295 7,170 8,384 6,965 8,018 4,624 5,208 12,125 6,965 12,125 
        total assets
      		 174,687  165,458 174,066 165,942 166,888 166,888 165,942 199,102 199,102 525,121 328,480 525,121 199,102 463,165 454,214 516,097 221,126 554,683 508,645 454,214 508,645 
        equity
      		                       
        shareholders' equity
      		 16,171  17,159 17,823 16,960 16,109  16,960 17,088 17,088    17,088 19,110 19,477 20,878  19,672 17,249 19,477 17,249 
        non-controlling interests
      		 1,065  152 160 167 163 163 167 176 176 510 1,063 510 176 197 192 1,241  23 18 192 18 
        total equity
      		 17,236  17,311 17,983 17,127 16,272 16,272 17,127 17,264 17,264 16,223 9,574 16,223 17,264 19,307 19,669 22,119  19,695 17,267 19,669 17,267 
        liabilities
      		                       
        insurance contract liabilities
      		 141,099  134,096 139,840 121,213   121,213 150,755 150,755  293,325  150,755  380,143 436,787   322,666 380,143 322,666 
        reinsurance contract liabilities
      		 1,379  950 1,151                   
        investment contract liabilities without discretionary participation features
      		 819  716 769 741   741 814 814  3,188  814  4,902 3,980   19,222 4,902 19,222 
        core structural borrowings of shareholder-financed businesses
      		 3,930  3,949 3,933 4,261 4,266 4,266 4,261 6,127 6,127 6,404 250 6,404 6,127 6,499 5,594 6,633  7,441 7,664 5,594 7,664 
        operational borrowings
      		 961  802 941 815 854 854 815 861 861 895 1,498 895 861 2,245  2,444      
        obligations under funding, securities lending and sale and repurchase agreements
      		 576  617 716 582 799 799 582 223 223 396 9,497 396 223 9,085 8,901 9,768 1,054 6,756 6,989 8,901 6,989 
        net asset value attributable to unit holders of consolidated investment funds
      		 2,921  2,683 2,711 4,193 4,549 4,549 4,193 5,664 5,664 5,770 494 5,770 5,664 5,967 5,998 5,975    5,998  
        deferred tax liabilities
      		 1,339  1,214 1,250 2,872 2,699 2,699 2,872 2,862 2,862 2,735 3,523 2,735 2,862 5,278 5,237 6,075 1,187 3,701 4,022 5,237 4,022 
        current tax liabilities
      		 231  247 275 208 253 253 208 185 185 200 10 200 185 428 396 280 395 319 568 396 568 
        accruals, deferred income and other creditors
      		 3,395  2,277 4,035 8,777   8,777 7,983 7,983    7,983   15,508      
        provisions
      		 137  129 224 348 225 225 348 372 372 227 14 227 372 245 466 350 584 254 1,078 466 1,078 
        derivative liabilities
      		 426  467 238 1,001 771 771 1,001 262 262 412 43 412 262 467 392 482 2,677 1,037 3,506 392 3,506 
        liabilities held for sale
      		 238                 10,164     
        total liabilities
      		 157,451  148,147 156,083 148,815 150,616 150,616 148,815 181,838 181,838 508,898 318,906 508,898 181,838 443,858 434,545 493,978 212,846 534,988 491,378 434,545 491,378 
        total equity and liabilities
      		 174,687  165,458 174,066 165,942 166,888 166,888 165,942 199,102 199,102 525,121 328,480 525,121 199,102 463,165 454,214 516,097 221,126 554,683 508,645 454,214 508,645 
        equity securities and holdings in collective investment schemesnote
      		   60,508  57,679 57,497 57,497 57,679 61,601 61,601 60,466  60,466 61,601 234,698 247,281 278,635    247,281  
        debt securitiesnote
      		   80,430  76,989 79,119 79,119 76,989 99,094 99,094 92,728  92,728 99,094 121,462 134,570 125,829  99,675 175,356 134,570 175,356 
        note
      		                       
        deferred acquisition costs and other intangible assets
      		     7,155 6,750 6,750 7,155 6,858 6,858 6,525 13,881 6,525 6,858 18,604 17,476 20,345 174 12,659 11,923 17,476 11,923 
        reinsurers' share of insurance contract liabilities
      		     2,807 2,750  2,807 9,753 9,753    9,753  13,856   10,151 11,144 13,856 11,144 
        ​
      		       30      30          
        investment contract liabilities with discretionary participation features
      		     309   309 346 346    346  633 479   67,413 633 67,413 
        unallocated surplus of with-profits funds
      		     3,495 4,568 4,568 3,495 5,384 5,384 6,273  6,273 5,384 5,512 4,750 5,217 15,116 2,944 15,845 4,750 15,845 
        assets held for distributionnote
      		           335,750  335,750      218,324    
        contract liabilities
      		      123,529 123,529    144,809  144,809  391,924   159,604 285,168    
        accruals, deferred income and other liabilities
      		      8,103 8,103    8,017 7,064 8,017  16,208 14,488  8,989 10,597 15,248 14,488 15,248 
        liabilities held for distributionnote
      		           332,760  332,760      211,387    
        reinsurers’ share of insurance contract liabilities
      		       2,750    9,891 35,232 9,891     2,690     
        shareholders’ equity
      		       16,109    15,713 8,511 15,713     8,280     
        other investments
      		            1,867      6,133     
        other investmentsnote
      		               1,569 1,302 1,867  958 6,512 1,302 6,512 
        equity securities and holdings in collective investment schemes
      		            219,340           
        debt securities
      		            36,033      85,174     
        reinsurers' share of insurance contract liabilitiesnote
      		               44,918  46,595      
        property, plant and equipmentnote
      		                1,065   785  1,065  
        operational borrowingsnote
      		                2,645     2,645  
        investment in joint ventures and associates accounted for using the equity method
      		                  605 1,030 1,733  1,733 
        equity securities and portfolio holdings in unit trusts
      		                  61,312     
        operational borrowings attributable to shareholder-financed businesses
      		                  456  998  998 
        borrowings attributable to with-profits businesses
      		                  3,580  3,940  3,940 
        net asset value attributable to unit holders of consolidated unit trusts and similar funds
      		                  9,040 3,482 11,651  11,651 
        equity securities and portfolio holdings in unit trustsnote
      		                   183,670 214,733  214,733 
        operational borrowings attributable to shareholder-financed businessesnote
      		                   1,664    
        borrowings attributable to with-profits businessesnote
      		                   238    
        assets held for salenote
      		                    10,578  10,578 
        liabilities held for salenote
      		                    10,568  10,568 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2022-06-30 2022-03-09 2021-08-11 2021-06-30 2020-03-11 2019-03-13 
              
          note
        		      
          cash flows from operating activities
        		      
          profit before tax
        		174 3,018 1,501 1,501 2,287 3,309 
          adjustments to profit before tax for:
        		      
          non-cash movements in operating assets and liabilities
        		      
          interest and dividend income and interest payments included in profit before tax
        		      
          operating cash items
        		      
          other non-cash items
        		 438   -96 582 
          net cash flows from operating activities note
        		      
          cash flows from investing activities
        		      
          purchases and disposals of property, plant and equipment
        		      
          acquisition of business and intangibles note
        		      
          cash advanced to cpl note
        		      
          disposal of jackson shares
        		      
          net cash flows from investing activities
        		-64 -726 -792 -792 -324 -789 
          cash flows from financing activities
        		      
          structural borrowings of shareholder-financed operations: note
        		      
          redemption of debt
        		-2,075 -1,250     
          interest paid
        		-117 -314 -163 -163 -526  
          payment of principal portion of lease liabilities
        		-56 -118 -54 -54   
          equity capital:
        		      
          issues of ordinary share capital
        		 2,382 8 8 22 17 
          share repurchases/buybacks
        		      
          external dividends:
        		      
          dividends paid to equity holders of the company
        		      
          dividends paid to non-controlling interests
        		-5  -3 -3   
          net cash flows from financing activities
        		-2,227 1,265 -495 -495 -2,457 -544 
          net increase in cash and cash equivalents
        		     1,131 
          cash and cash equivalents at beginning of period
        		7,170  8,018 8,018   
          effect of exchange rate changes on cash and cash equivalents
        		-180 -44 -43 -43 203 304 
          cash and cash equivalents at end of period
        		6,415  7,456 7,456   
          profit
        		      
          investment income and interest payments included in profit before tax
        		 -3,738   -4,803  
          net cash flows from operating activitiesnote
        		1,716 278     
          purchases of property, plant and equipment
        		 -36   -64 -289 
          acquisition of business and intangiblesnote
        		 -773   -635  
          structural borrowings of shareholder-financed operations:note
        		      
          issuance of debt, net of costs
        		346 995     
          dividends paid to the company's shareholders
        		-320 -421  -283   
          adjustments to profit before tax for non-cash movements in operating assets and liabilities:
        		      
          investments
        		21,017 -14,553 -5,651 -5,651 -60,812 15,456 
          other non-investment and non-cash assets
        		6,446 2,658 2,693 2,693 -2,487 -3,503 
          insurance and reinsurance contract assets and liabilities
        		      
          other non-insurance liabilities
        		      
          operating cash items:
        		      
          interest receipts
        		 2,328     
          interest payments
        		 -11     
          dividend receipts
        		 1,480   978 2,361 
          tax paid
        		 -453   -717  
          proceeds from disposal of property, plant and equipment
        		     4 
          net decrease in cash and cash equivalents
        		      
          cash and cash equivalents at 1 jan
        		 8,018     
          cash and cash equivalents at 31 dec
        		 7,170     
          continuing operations:
        		      
          policyholder liabilities
        		-25,972 9,095 2,424 2,424 56,067 -17,392 
          other liabilities
        		74 16 105 105 5,097 4,344 
          disposal of jackson sharesnote
        		      
          net increase in cash and cash equivalents from continuing operations
        		-575 817 -59 -59   
          net decrease in cash and cash equivalents from discontinued us operations
        		 -1,621     
          other itemsnote
        		-23  156 156   
          net cash flows from purchases and disposals of property, plant and equipment
        		-14  -19 -19   
          net cash flows from other investing activitiesnote
        		-50  -773 -773   
          comprising:
        		      
          cash and cash equivalents from continuing operations
        		6,415 7,170 6,295 6,295 6,965  
          cash and cash equivalents from discontinued us operations
        		  1,161 1,161   
          ​
        		      
          disposal of businessesnote
        		 83     
          fees paid to modify terms and conditions of debt issued by the group
        		    -182  
          net decrease in cash and cash equivalents from discontinued us operationsnote
        		      
          net decrease in cash and cash equivalents from uk and europe operationsnote
        		      
          net cash flows from operating activities
        		  1,228 1,228 -209 2,464 
          dividends paid to the company’s shareholders
        		  -283    
          discontinued us operations:note
        		      
          net cash flows from financing activitiesnote
        		  -18 -18   
          net increase in cash and cash equivalents from discontinued us operations
        		  -460 -460   
          redemption of subordinated debt
        		    -504  
          net cash flows from discontinued operationsnote
        		    -5,690  
          cash and cash equivalents from discontinued operations
        		      
          interest receipts and payments
        		    4,277 5,793 
          disposal of businesses
        		    375  
          issue of subordinated debt, net of costs
        		    367  
          external dividends
        		    -1,634  
          net increase in cash and cash equivalents from continuing operationsnote
        		    -2,990  
          cash and cash equivalents at beginning of year
        		    15,442 10,690 
          cash and cash equivalents at end of year
        		    6,965 12,125 
          non-controlling equity investment by athene into the us business
        		      
          net cash flows from discontinued operations
        		      
          cash flows from continuing operations:
        		      
          net cash flows from corporate transactionsnote
        		      
          structural borrowings of the group:
        		      
          shareholder-financed operations:note
        		      
          dividends paid
        		     -1,244 
          net remittances from discontinued operations
        		      
          interest income and expense and dividend income included in result before tax
        		     -7,861 
          tax paidnote
        		     -625 
          acquisition of businesses and intangiblesnote
        		     -504 
          sale of businessesnote
        		      
          shareholder-financed businesses:note
        		      
          with-profits businesses:note