Primerica

Financial Services financial management investment management life insurance

Primerica, Inc. is an insurance and financial services company, which uses a hybrid model of direct selling, franchising, and distribution. The Company focuses on the sale of term life insurance, as well as providing other financial products and services including mutual funds, annuities, segregated funds, managed accounts, long-term care insurance, pre-paid legal services, auto insurance, home insurance, credit monitoring and debt management plans.

Revenue(FY, 2017)

$1.7 B

Market capitalization(2018-04-20)

$4.5 B

Type

Public

Duluth, US

Founded

1977

Size (employees)

2,026 (est)

Website

primerica.com

Primerica was founded in 1977 and is headquartered in Duluth, US

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Primerica Office Locations

Primerica has an office in Duluth

Duluth, US (HQ)

1 Primerica Pkwy

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Primerica Financials and Metrics

Primerica Financials

Primerica's revenue was reported to be $1.69 b in FY, 2017

Summary

USD
Revenue (FY, 2017)	1.7 b
Net income (FY, 2017)	350.3 m
Market capitalization (20-Apr-2018)	4.5 b
Cash (31-Dec-2017)	280 m
EV	4.9 b

Primerica's current market capitalization is $4.5 b.

Source: SEC Filings

Income Statement

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Revenue	1.3 b	1.3 b	1.4 b	1.5 b	1.7 b
Revenue growth, %		6%	5%	8%
Operating expense total					1.3 b
EBIT	251.2 m

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017
Revenue	319.5 m	324.3 m	331.1 m	339.2 m	345.1 m	350.9 m	355.8 m	363 m	379.2 m	383.6 m	405.2 m	413.7 m
Operating expense total	252.9 m	257.5 m	255.4 m	275.2 m	278.3 m	274 m	280.9 m	292.8 m	287.4 m	295.2 m	330.3 m	317.3 m
Interest expense	8.7 m	8.6 m	8.6 m	8.7 m	8.7 m	8.6 m	8.7 m	7.2 m	7.2 m	7.2 m	7.1 m	7.1 m
Pre tax profit	66.6 m	66.8 m	75.7 m	64 m	66.8 m	76.8 m	75 m	70.2 m	91.9 m	88.4 m	74.8 m	96.4 m

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Source: SEC Filings

Balance Sheet

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Cash	149.2 m	192.5 m	152.3 m	212 m	280 m
Accounts Receivable				210.4 m	229.5 m
Inventories				2.4 b	2.7 b
Total Assets		10.7 b	10.6 b	11.4 b	12.5 b

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017
Cash	147.5 m	158.4 m	150.6 m	165 m	180.2 m	153.9 m	160.6 m	175.7 m	213.1 m	195.3 m	185.8 m	154.5 m
Accounts Receivable										226.5 m	215.6 m	223.9 m
Inventories	1.8 b	1.9 b	1.9 b	2.1 b	2.1 b	2.1 b	2.1 b	2.2 b	2.2 b	2.3 b	2.5 b	2.6 b
Total Assets	10.2 b	10.4 b	10.6 b	10.7 b	10.7 b	10.8 b	10.6 b	11 b	11.2 b	11.4 b	11.7 b	11.9 b

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Cash Flow

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Net Income		181.4 m	189.9 m	219.4 m	350.3 m
Depreciation and Amortization	10.8 m	12.3 m	11 m	14.6 m	13.6 m
Inventories	(2.7 m)	(17 m)	(11 m)	15.3 m	(16.4 m)
Accounts Payable	73.1 m	(90 m)	(50 m)	(72.9 m)

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017
Net Income	43.2 m	45.1 m	49.3 m	41.6 m	43.4 m	49.2 m	135.9 m	45.2 m	104.5 m	162.5 m	52.1 m	115.2 m
Depreciation and Amortization								3.1 m	7.1 m	10.9 m	3.4 m	7 m
Inventories								(15.1 m)	(20.6 m)	(13.8 m)	(7.5 m)	(43.2 m)
Accounts Payable								(28.8 m)	(17.1 m)	(34.9 m)	(24.4 m)	11.4 m

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Ratios

USD	Y, 2017
EV/CFO	12.7 x
Revenue/Employee	833.7 k
Financial Leverage	8.8 x

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Primerica Operating Metrics

	FY, 2014	Q1, 2015	Q2, 2015	Q3, 2015	FY, 2015	Q1, 2016	Q2, 2016	Q3, 2016	FY, 2016	Q1, 2017	Q2, 2017
Agents	98 k	98.15 k	101.01 k	104.70 k	106.71 k	108.22 k	112.37 k	115.35 k	116.83 k	117.91 k	121.47 k
In-Force Policies (Life Insurance)	2.34 m				2.40 m				2.49 m
Locations	2.70 k				2.70 k				2.75 k