# PRIMERICA, INC. (PRI) — Stock CV

Primerica, Inc. is a $8.47B financial services company. Revenue grew 9.2% over the last year, and it keeps 23¢ of every dollar of sales as profit. It trades at 10.6× earnings — near the lowest of its own history.

> Primerica Inc is a provider of financial services to middle-income households in the United States and Canada. The company offers life insurance, mutual funds, annuities, and other financial products, distributed on behalf of third parties.

## Identity

- **Ticker**: PRI
- **Sector**: Financial Services
- **Industry**: Life Insurance
- **Headquarters**: DULUTH, GA
- **Employees**: 2 833
- **Website**: https://www.primerica.com
- **Market cap**: $8.47B
- **Last price**: $275.29
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $3.43B
- **Net income**: $796M
- **Free cash flow**: $892M
- **Net debt**: $1.15B
- **P/E**: 10.6
- **Revenue growth (YoY)**: 9.2%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 95 |
| Growth | 51 |
| Profitability | 95 |
| Health | 48 |
| Quality | 62 |
| Moat | 45 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +9.2% YoY
- [x] Profitable — $796M TTM
- [x] Profit growing — +22.9% YoY
- [x] Generates cash — $892M TTM
- [x] Debt under control — ~1.3y of cash flow to repay
- [x] Established company — $8.47B market cap
- [x] Not printing shares — -18.7% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — Altman Z 0.5 — distress
- [x] Pays a dividend — yield 1.68%
- [x] Valuation not extreme — P/E 10.6

## Experience (career milestones)

- **FY2025** — Best year on record: $751M net income
- **2021** — Primerica acquired e-Telequote in July 2021
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $1.52B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2002** — Primerica and its affiliates continued to operate as subsidiaries of Citigroup, although the Travelers insurance…
- **1993** — Primerica fully acquired Travelers Insurance Corporation and adopted the name Travelers Inc
- **1988** — Sanford Weill's Commercial Credit acquired Primerica Corporation for $1.54 billion, retaining the…
- **1987** — American Can changed its name to Primerica Corporation
- **1986** — Triangle Industries bought American Can's packaging division and the rights to the company's name
- **1983** — The company became listed on the NASDAQ exchange under the same symbol
- **1983** — PennCorp finalized a merger agreement with American Can Company in 1983
- **1977** — Williams (founded in 1977) entered into a contract with Boston-based Massachusetts Indemnity and Life Insurance…

## Strengths

- Strongly profitable — 23.2% net margin
- Strong cash conversion — FCF is 26.0% of revenue
- Interest covered 41.7× by operating earnings
- High returns on invested capital (ROIC 20.9%)
- Piotroski F-Score 7/9 — fundamentally strong checklist

## Watch-outs

- Altman Z-Score 0.48 — elevated financial-distress risk

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $2.71B | $373M | $657M |
| FY2022 | $2.72B | $373M | $758M |
| FY2023 | $2.81B | $574M | $693M |
| FY2024 | $3.09B | $471M | $862M |
| FY2025 | $3.29B | $751M | $901M |

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Source: https://stockcv.com/PRI — derived from company filings; may be delayed or incomplete. Information, not investment advice.