olivLaw · European equity research
Prudential plc PRU.L
United Kingdom · London Stock Exchange · ISIN GB0007099541 · Vertical: Listed companies from United Kingdom
Prudential plc is a life insurance and asset management group operating mainly in Asia and Africa, distributed through agents and bank partnerships. In 2025 the group reported new business profit growth of 12 per cent and guides to double-digit growth in its key metrics for 2026, in a volatile global context.
At the close of 05 Nov 2026, Prudential plc (PRU.L) stock was 9.28 GBP (−3.83% on the day), with beta 0.93, 52-week range 8.81–12.20 GBP.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 51.8
- neutral
- Bollinger (20, 2)
- 8.64 – 9.48
- in the upper half of the band · %B 0.76 · band width 9.3%
- SMA 50 / 200
- 9.43 / 10.48
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.00 / -0.09
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +0.4% | −0.6% | +1.1 pp | — |
| 3 months | −9.6% | −4.2% | −5.5 pp | — |
| 6 months | −20.5% | +4.3% | −24.9 pp | — |
| Year to date | −18.9% | +7.5% | −26.4 pp | — |
| 1 year | −14.3% | +9.9% | −24.2 pp | +6.7% |
| 3 years | +3.2% | +49.8% | −46.7 pp | +24.8% |
| 5 years | −37.1% | +42.8% | −79.9 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
the price (USD) and the reports are in different currencies
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | unavailable | unavailable | unavailable |
| Revenue YoY | unavailable | unavailable | unavailable |
| Net income | 1.7 bn | 2.3 bn | 4.0 bn |
| Net income YoY | unavailable | +34.3% | +74.1% |
| Diluted EPS | 0.62 | 0.84 | 1.54 |
| Diluted EPS YoY | unavailable | +35.7% | +82.7% |
| net % | unavailable | unavailable | unavailable |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 7.7 bn USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 21.4 bn USD
- Total assets
- 212.2 bn USD
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- 19.9%
- ROA
- 2.0%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Income statement · USD
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Pre-tax income | 2.3 bn | 3.2 bn | 5.1 bn | esef· 07 Apr 2026verified |
| Income tax | 560.0 m | 824.0 m | 1.0 bn | esef· 07 Apr 2026verified |
| Net income | 1.7 bn | 2.3 bn | 4.0 bn | esef· 07 Apr 2026verified |
| Diluted EPS | 0.62 | 0.84 | 1.54 | esef· 07 Apr 2026verified |
| Dividend per share | 0.19 | 0.21 | — | esef· 15 Apr 2025verified |
Balance sheet · USD
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 4.8 bn | 5.8 bn | 7.7 bn | esef· 07 Apr 2026verified |
| Property, plant & equipment, net | 374.0 m | 417.0 m | 530.0 m | esef· 07 Apr 2026verified |
| Goodwill | 896.0 m | 848.0 m | 902.0 m | esef· 07 Apr 2026verified |
| Intangibles (excl. goodwill) | 4.0 bn | 3.8 bn | 4.0 bn | esef· 07 Apr 2026verified |
| Total assets | 174.1 bn | 181.9 bn | 212.2 bn | esef· 07 Apr 2026verified |
| Total liabilities | 156.1 bn | 163.2 bn | 190.8 bn | esef· 07 Apr 2026verified |
| Equity | 18.0 bn | 18.7 bn | 21.4 bn | esef· 07 Apr 2026verified |
| Shares outstanding at year end | 2.7 bn | 2.7 bn | 2.6 bn | esef· 07 Apr 2026derived |
Cash flow · USD
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 0 of at least 6
- score weight coverage: 0.0% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Price and reporting are in different currencies; market indicators are unavailable.
Key indicators
Coverage and freshness
Score by group
0% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 18.18 – 32.92 USD.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E18.18 – 32.92 (Mid 23.55)18 companies used · median multiple 15.3x · quartiles 11.8x – 21.4x0EV1.L, ABDN.L, ABF.L, AIRE.L, AJB.L, ALFA.L, AMIF.L, APN.L, APTD.L, ASHM.L, AUTO.L, BAB.L, BAG.L, BATS.L, BBY.L, BCG.L, BKG.L, BME.L
- Dividend discount (DDM)outside the aggregate2.77 – 3.72 (Mid 3.17)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 0 of at least 6; score weight coverage: 0.0% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partialunavailable · 0/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partialunavailable · 0/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Prudential Public Limited Company (PRU.L). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: ROE 21.2%.
The estimated value range is 18.18–32.92 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 0 of at least 6; score weight coverage: 0.0% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, Current ratio, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from United Kingdom · same country · compared with 40 companies
Multiples and returns vs the median
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BATS.LBritish American Tobacco P.L.C. | 104.3 bn | 13.5 | 16.5% | 30.3% | −1.0% | +7% / +88% |
| ABF.LAssociated British Foods PLC | 14.7 bn | 14.3 | 9.2% | 5.3% | −3.1% | −5% / −15% |
| 0EV1.LCarnival PLC | 5.5 bn | 4.1 | 46.7% | 13.4% | +6.4% | unavailable / unavailable |
| BAB.LBabcock International Group PLC | 5.1 bn | 24.7 | 34.7% | 4.1% | +7.2% | −10% / +158% |
| AUTO.LAutotrader Group PLC | 4.8 bn | 16.4 | 60.2% | 47.1% | +3.9% | −13% / −23% |
| BBY.LBalfour Beatty PLC | 4.2 bn | 16.3 | 23.2% | 2.8% | +15.2% | +20% / +160% |
| ABDN.LAberdeen Group PLC | 4.1 bn | 10.8 | 8.0% | 28.9% | −2.1% | +11% / +41% |
| BKG.LThe Berkeley Group Holdings PLC | 3.6 bn | 11.3 | 8.8% | 13.4% | −4.2% | −0% / −22% |
| BME.LB&M European Value Retail PLC | 2.9 bn | 17.4 | 21.2% | 2.8% | +3.7% | +68% / −51% |
| AJB.LAj Bell PLC | 2.4 bn | 22.8 | 49.9% | 33.1% | +18.0% | +8% / +128% |
| ASHM.LAshmore Group PLC | 1.4 bn | 13.9 | 13.1% | 71.6% | −0.1% | +28% / +18% |
| BCG.LBaltic Classifieds Group PLC | 1.2 bn | 23.2 | 15.8% | 57.6% | +6.9% | −99% / −99% |
| APN.LApplied Nutrition PLC | 763.6 m | 36.2 | 41.2% | 19.7% | +24.2% | +71% / unavailable |
| BAG.LA.G. Barr P.L.C. | 671.9 m | 14.4 | 14.4% | 10.8% | +4.0% | −7% / +26% |
| ASC.LAsos PLC | 494.5 m | — | -81.3% | -12.0% | −14.7% | +71% / +8% |
| ALFA.LAlfa Financial Software Holdings PLC | 486.8 m | 16.3 | 61.5% | 23.8% | +15.3% | −28% / +10% |
| AML.LAston Martin Lagonda Global Holdings PLC | 344.3 m | — | -93.4% | -39.2% | −20.6% | −45% / −85% |
| APTD.LAptitude Software Group PLC | 111.3 m | 28.5 | 7.2% | 6.2% | −7.3% | −30% / −23% |
| BMS.LBraemar PLC | 78.3 m | 39.2 | 2.7% | 1.7% | −4.4% | +13% / −11% |
| AMGO.LAmigo Holdings PLC | 9.9 m | — | — | — | −81.9% | +325% / +844% |
| ASBE.LAssociated British Engineering PLC | 605.3 k | — | -19.1% | — | unavailable | unavailable / unavailable |
| AMIF.LAmicorp Fs (uk) PLC | 221.6 k | 0.1 | 27.5% | 9.1% | +8.1% | unavailable / unavailable |
| AAF.LAirtel Africa PLC | — | — | 24.1% | 10.6% | +29.5% | −7% / +164% |
| AAL.LAnglo American PLC | — | — | -19.3% | -20.2% | +4.5% | +30% / +76% |
| ACG.LAcg Metals Limited | — | — | -80.3% | -32.0% | +134.8% | +60% / +63% |
1- and 3-year price returns: for PRU.L from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Prudential plc is a life insurance and asset management group operating mainly in Asia and Africa, distributed through agents and bank partnerships. In 2025 the group reported new business profit growth of 12 per cent and guides to double-digit growth in its key metrics for 2026, in a volatile global context 1.
SWOT
Strengths
- Solid multi-channel distribution with agents and bank partnerships across several Asian markets.
- Leading position in bancassurance and a large base of qualifying agents in the Million Dollar Round Table.
- Balance sheet and capital position described by the group as strong, with a surplus above regulatory requirements.
Weaknesses
- A fall in the number of active agents in 2025 reduced sales through the agency channel.
- Lower sales in Vietnam weighed on new business profit.
- Reliance on emerging markets with changing regulation.
Opportunities
- Low life insurance penetration and a large health protection gap across Asian markets.
- Growing affluent customer segment where new products have been well received.
- Expansion of Eastspring through external funds and bank distribution channels.
Threats
- Financial market volatility and inflationary pressures stemming from trade policies.
- Regulatory changes that could reduce sales volumes in certain markets.
- Falling interest rates that could reduce the appeal of participating products.
Risks
- Economic and geopolitical riskhigh
Trade and geopolitical tensions could affect asset values and investment returns across the group.
- Regulatory riskhigh
Regulatory changes, especially in Vietnam, could affect sales and profitability in certain markets.
- Interest rate riskmedium
Lower interest rates could reduce the appeal of participating products and affect margins.
- Distribution riskmedium
Dependence on agents and bank partners could limit growth if recruitment or partner relations weaken.
- Technology and cyber risklow
Technology and cyber security risks are among the principal risks listed in the annual report.
Investment thesis
What would need to be true (bull case)
- Growth in new business profit and operating free surplus shows the distribution model can deliver solid results if Asian life insurance penetration keeps rising.
- Leadership in bancassurance and surplus capital give flexibility for investment and for capability acquisitions.
- Eastspring could benefit from rising external inflows if investment performance stays above benchmark.
What would break the thesis
- The fall in active agents and the decline in Vietnam show sales can be sensitive to local market changes.
- Exposure to trade and geopolitical uncertainty could affect financial markets and investment values.
- If regulation in Asia becomes more restrictive, the announced growth could slow or require changes to the distribution model.
What to watch
- Development of new business profit and delivery of double-digit growth guidance2026
- Trend in the number of active agents, especially in ASEANnext annual report
- Recovery of Vietnam sales after regulatory changes2026
- Delivery of the 2027 financial objectives2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Prudential plc is a life insurance group headquartered in the United Kingdom, operating mainly in Asia and Africa. Its model rests on two distribution channels, agents and bancassurance, plus asset management through Eastspring. In 2025 adjusted operating profit before tax was 3,306 million US dollars, up 5 per cent on 2024 1.
The group tracks three key metrics: new business profit, earnings per share based on adjusted operating profit, and operating free surplus from in-force insurance and asset management. These are reported at constant exchange rates. For 2025 operating free surplus was 3,059 million US dollars, up 15 per cent 1.
Its multi-channel structure is central to the strategy. The group states it is the number one independent insurer in Asia bancassurance, with over 180 bank partners, and has the second largest number of Million Dollar Round Table qualifying agents globally 1.
Segments
Life insurance
The life insurance segment includes the agency and bancassurance channels. In 2025 the agency channel delivered new business profit of 1,560 million US dollars, up 4 per cent (excluding the three businesses exited in Africa), while bancassurance delivered 1,033 million US dollars, up 27 per cent 1.
Eastspring (asset management)
Eastspring managed funds of 277.7 billion US dollars at 31 December 2025, up 8 per cent at actual exchange rates. Total net inflows were 16.0 billion US dollars in 2025, and 74 per cent of funds outperformed their benchmark over one year 1.
Market context
The group operates in Asian markets with low life insurance penetration, where, according to the annual report, life insurance premiums grow twice as fast as in other regions. Management sees a large health protection gap and structural demand for savings and protection solutions 1.
Management nonetheless notes that trade and geopolitical uncertainty and protectionist policies could affect the economic and market environment in which the group operates. Vietnam illustrates regulatory risk, as its industry is going through recent disruption 1.
Trends
- Growth in Asian life insurancetailwind
According to the annual report, life insurance premiums in Asia are growing faster than in other regions, while penetration remains low. If this trend persists, it could support medium-term growth.
- Economic and geopolitical uncertaintyheadwind
Protectionist trade policies and geopolitical tensions have raised market volatility and can influence bond yields and asset values. The group warns these conditions could affect financial markets.
- Regulatory change in Vietnamheadwind
Vietnam's new insurance law reduced sales volumes, though the group says the market could regain momentum as customer confidence is restored. The effect is currently negative in the short term.
- Deepening bancassurance partnershipsmixed
Strategic partnerships with regional banks have supported profit growth through new products and favourable mix effects. This trend could sustain margins if the partnerships remain active.
Competitive position
The group competes with other life insurers and asset managers active in Asia. The annual report does not explicitly name competitors but highlights that Prudential is a leader in bancassurance and remains the number one foreign insurer in Taiwan.
The group's advantage comes from its multi-channel network and participating savings products. Local competition could however limit growth if regulations change quickly or if bank partners shift their strategy.
- Local and regional life insurers in Asia
The annual report refers to local market competition without naming specific competitors.
- Other foreign insurers in Taiwan and Thailand
The group positions itself against other foreign insurers without naming them in the source.
- Regional asset managers in Asia
Eastspring competes with regional asset managers for external funds, with no names given in the source.
- Bank partners in bancassurance
Banks could become competitors as they develop their own insurance products.
News & filings
In the press
- Japan’s Prudential Life ordered to halt operations for over three monthsThe Japan Times · 09 Oct 2026 · EN
- Prudential Japan's hypercompetitive culture bred misconduct, report saysNikkei Asia · 08 Oct 2026 · EN
- Prudential Japan executives take pay cuts over staff misconductThe Japan Times · 08 Oct 2026 · EN
- Japan watchdog prepares sales suspension for Prudential LifeNikkei Asia · 02 Oct 2026 · EN
- Japan's watchdog prepares sales suspension for Prudential LifeNikkei Asia · 02 Oct 2026 · EN
- ICICI Prudential Flexi Cap Fund Completes Five Years : What Does the Journey Tell Investors ?Surge — GDELT DOC · 29 Sept 2026 · RO
- Prudential (PRU) Is Leaving Emerging Markets, And This $185M Sale Proves ItYahoo Finance — News · 19 Sept 2026 · EN
- Prudential Exits AlexForbes as Motsepe’s ARC Boosts StakeBloomberg Markets · 18 Sept 2026 · EN
- Is Prudential Financial Stock Underperforming the Nasdaq?Yahoo Finance — News · 09 Sept 2026 · EN
- Woman loses suit against Prudential for brain surgery payout as judge rejects 'buried clause' argumentCNA (Channel NewsAsia) · 03 Sept 2026 · EN
- Prudential Public H1 Earnings Call HighlightsYahoo Finance — News · 27 Aug 2026 · EN
- Prudential to Sell 2% for $327 Million in India Asset ManagerBloomberg Markets · 26 Aug 2026 · EN
- Prudential Tops Estimates as Revenue From Asset Manager SoarsBloomberg Markets · 04 Aug 2026 · EN
- Flint: Prudential To Focus On Under-Insured Asia, AfricaBloomberg Markets · 03 Aug 2026 · EN
- Prudential Life Insurance to fundamentally reform compensation systemNikkei Asia · 27 Jul 2026 · RO
- Billionaire Vincent Tan Said to Mull Selling Prudential Malaysia StakeBloomberg Markets · 29 May 2026 · EN
- Prudential Life Insurance posts 12.6% profit dip after employee fraudThe Japan Times · 26 May 2026 · RO
Annual reports (ESEF)
- Annual report 202507 Apr 2026
- Annual report 202415 Apr 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Prudential plc · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.