Aankondiging • Jun 03
Prudential Financial, Inc. Launches Elevate Suite of Retirement Products for Independent Marketing Organization Channel Prudential Financial, Inc. announced the launch of Elevate, a suite of retirement products designed for the independent marketing organization (IMO) channel. The IMO channel represents a growing segment of the individual retirement marketplace. Prudential’s new Elevate Accumulator Fixed Indexed Annuity and Elevate Income Fixed Indexed Annuity broaden the company’s addressable market opportunity by strengthening engagement with financial professionals who utilize IMO distribution to serve retirement investors. Building on the success of existing Prudential fixed indexed annuities, the new Elevate suite has been adapted to reflect how IMO partners do business. The launch expands Prudential’s reach in the individual retirement market and opens up new relationships with financial professionals who play a critical role in delivering protected accumulation and lifetime income decumulation solutions. Annuities are issued by Pruco Life Insurance Company, Newark, NJ (main office). Pruco Life Insurance Company is a Prudential Financial company and is solely responsible for its own financial condition and contractual obligations. Board Change • Jun 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Maryann Mannen was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • May 19
Executive VP recently sold €1.2m worth of stock On the 14th of May, Ann Kappler sold around 14k shares on-market at roughly €88.45 per share. This transaction amounted to 37% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €6.7m more than they bought in the last 12 months. Aankondiging • May 14
Prudential Financial, Inc. Declares Quarterly Dividend on Common Stock, Payable on June 11, 2026 Prudential Financial, Inc. announced the declaration of a quarterly dividend of $1.40 per share of Common Stock, payable on June 11, 2026, to shareholders of record at the close of business on May 26, 2026. Aankondiging • Apr 09
Prudential Financial, Inc. to Report Q1, 2026 Results on May 05, 2026 Prudential Financial, Inc. announced that they will report Q1, 2026 results at 4:15 PM, US Eastern Standard Time on May 05, 2026 Aankondiging • Mar 27
Prudential Financial, Inc., Annual General Meeting, May 12, 2026 Prudential Financial, Inc., Annual General Meeting, May 12, 2026. Location: prudential financials office, located at 751 broad street, newark United States Aankondiging • Mar 11
Prudential Financial, Inc. Announces Board Changes, Effective March 10, 2026 Prudential Financial, Inc. announced that its Board of Directors has appointed Andrew Sullivan, currently serving as Chief Executive Officer, to the additional role of Chairman of the Board, effective March 10, 2026. Sullivan succeeds Charles Lowrey, who resigned as Executive Chairman and director on March 10, 2026. Lowrey will remain with the company as a senior advisor through the end of the second quarter, when he will retire from Prudential. During his 25 years of distinguished service to Prudential, Lowrey served as Executive Chairman beginning in 2025, Chief Executive Officer from 2018 to 2025, and Chairman from 2019 to 2025. As Chairman and CEO, Lowrey established a foundation for the company’s next phase of growth, presiding over a series of growth investments, derisking transactions and organizational changes to strengthen the company’s competitive position in the marketplace. Lowrey also led Prudential through the COVID-19 pandemic, where he oversaw multiple initiatives to support Prudential employees, customers, and the communities in which Prudential operates. Aankondiging • Mar 06
Prudential Financial Inc Appoints David Fassbender as Head of Asia Pacific Real Estate, Effective July 1, 2026 Prudential Financial Inc. announced a new appointment. The firm has announced the appointment of David Fassbender as head of real estate for the Asia Pacific region. The appointment is effective from July 1, 2026. The new executive is to be based in Tokyo. Fassbender, who brings 23 years of experience to his role, takes over from Benett Theseira, who is retiring. Aankondiging • Mar 03
Prudential Financial, Inc. Launches Its ActiveIncome Insurance Overlay Solution for Retail Managers Prudential Financial, Inc. announced the launch of its ActiveIncome insurance overlay solution for retail managed accounts on Franklin Templeton's Canvas platform. Available on Canvas through the FIDx Insurance Overlay marketplace, the innovative offering is designed to seamlessly integrate protected lifetime income into registered investment advisors' practices, making it easier to help more Americans protect their life's work. Prudential's pioneering insurance overlay has brought a new category of lifetime income to managed accounts, giving registered investment advisors (RIAs) a powerful tool for retirement planning. Through a contingent deferred annuity, investors can maintain investment flexibility, while securing lifetime income longevity protection without moving assets to an insurance carrier. Advisors gain streamlined access to insurance solutions that enhance planning strategies beyond traditional withdrawal strategies and address the evolving needs of retirement investors. Prudential and Franklin Templeton's collaboration with FIDx underscores this commitment to innovation. FIDx's Insurance Overlay marketplace connects carriers, wealth platforms, and advisors, enabling streamlined access to insurance solutions. Franklin Templeton's Canvas platforms is a leading wealth management solution to build, implement, and manage tax-optimized and personalized portfolios seamlessly. Through this integration, advisors on Canvas can now incorporate lifetime income protection and maintain asset control -- while delivering world-class investment and tax strategies. Aankondiging • Feb 10
Prudential Financial, Inc. Appoints Maryann Mannen as Independent Director and Member of Corporate Governance and Business Ethics Committee and the Compensation and Human Capital Committee, Effective May 12, 2026 Prudential Financial, Inc. announced that Maryann Mannen has been elected to the Board of Directors as an independent director, effective May 12, 2026, and contingent on shareholder approval. She will serve on the Board’s Corporate Governance and Business Ethics Committee and Compensation and Human Capital Committee. Mannen brings broad operational and financial expertise acquired over more than 30 years in the global energy sector. She currently serves as chairman, president and chief executive officer of Marathon Petroleum Corporation and its subsidiary, MPLX LP. Previously, Mannen was executive vice president and chief financial officer at Marathon Petroleum, where she oversaw all finance-related functions, investor relations, and supply chain operations, among other responsibilities. Prior to joining Marathon Petroleum, Mannen was executive vice president and chief financial officer of FMC Technologies, where she played a critical role negotiating and completing the company’s merger with Technip SA, and where she served as executive vice president and chief financial officer of the merged company, TechnipFMC. Mannen holds a master’s degree in business administration and a bachelor’s degree in commerce and accounting from Rider University. She serves as chairman of the board for Marathon Petroleum and MPLX LP. Mannen is also a director at Owens Corning, where she chairs the Audit Committee and serves as a member of the Governance and Nominating and Executive Committees, but will not stand for reelection at their upcoming Annual Meeting of Stockholders. Upcoming Dividend • Feb 09
Upcoming dividend of US$1.40 per share Eligible shareholders must have bought the stock before 16 February 2026. Payment date: 12 March 2026. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 5.4%. Within top quartile of Italian dividend payers (4.6%). Higher than average of industry peers (4.2%). Reported Earnings • Feb 09
Full year 2025 earnings released: EPS: US$10.05 (vs US$7.54 in FY 2024) Full year 2025 results: EPS: US$10.05 (up from US$7.54 in FY 2024). Revenue: US$55.7b (down 21% from FY 2024). Net income: US$3.54b (up 31% from FY 2024). Profit margin: 6.4% (up from 3.8% in FY 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Aankondiging • Feb 04
Prudential Financial, Inc. Announces a Quarterly Dividend, Payable on March 12, 2026 Prudential Financial, Inc. announced the declaration of a quarterly dividend of $1.40 per share of Common Stock, payable on March 12, 2026, to shareholders of record as of February 17, 2026. Aankondiging • Jan 07
Prudential Financial, Inc. to Report Q4, 2025 Results on Feb 03, 2026 Prudential Financial, Inc. announced that they will report Q4, 2025 results After-Market on Feb 03, 2026 Aankondiging • Dec 18
Prudential Financial, Inc. Announces Executive Changes, Effective February 2, 2026 Prudential Financial, Inc. Announced Realignment Of Senior Business Leadership And Appointment Of Phil Waldeck, currently head of Multi-Asset and Quantitative Solutions at Prudential’s asset management business, PGIM, As Executive Vice President, Head Of U.S. Businesses, Effective February 2, 2026. Prior to PGIM, Waldeck served as Prudential’s chief transformation officer and previously held senior business leadership roles including president of Retirement and head of Pension and Structured Solutions, giving him broad understanding of the company’s core markets and customer segments. David Legher, head of Emerging Markets, will report directly to Sullivan, alongside Waldeck, the Japan Group President and CEO Brad Hearn, and PGIM President and CEO Jacques Chappuis. As part of these changes, Caroline Feeney, global head of Retirement and Insurance, will depart Prudential. Phil Waldeck has served as head of PGIM’s Multi-Asset and Quantitative Solutions business since 2021. Before joining PGIM, Waldeck served as senior vice president and chief transformation officer for Prudential Financial, Inc. (PFI), and as chief executive officer of PFI’s Workplace Solutions Group. Earlier, he served as president of PFI’s Retirement group and led the Investment & Pension Solutions business, which comprised $250 billion in assets across guaranteed institutional investment strategies. Waldeck was the architect of PFI’s PRT business, who along with a strong leadership team grew the business to over $170 billion. Prior to joining PFI, he served as a senior vice president in Cigna’s retirement business. Waldeck earned a bachelor’s degree, magna cum laude, from Tufts University and an MBA from the University of Michigan. Aankondiging • Dec 15
Prudential Launches FlexGuard 2.0 with New Investment Allocation Options to Help Customers Protect Their Life's Work, Furthering Commitment to the Registered Index-Linked Annuity Space Prudential Financial, Inc. announced the launch of FlexGuard 2.0, the next evolution of the company's retail registered index-linked annuity (RILA) U.S. retirement product lineup. Prudential FlexGuard 2.0®? registered index-linked annuity builds on the record success of Prudential's premier RILA suite with new enhancements driven directly by customer and financial professional input, while maintaining the solution's customizable protection levels, growth options, and flexibility to evolve with their goals. These key advancements are designed to help provide even greater value and peace of mind, including a new flexible allocation feature, and a simplified no-contract fee structure. Expanded buffers and a broader set of index and exchange-traded fund investment crediting strategies offer the opportunity for more protection and greater growth potential, linked to market performance. Prudential's latest innovation in the RILA market underscores the company's ability to anticipate trends and deliver solutions that combine flexibility, simplicity and protection -- advancing its efforts to expand access to retirement security. Aankondiging • Dec 11
Prudential Financial, Inc. (NYSE:PRU) announces an Equity Buyback for $1,000 million worth of its shares. Prudential Financial, Inc. (NYSE:PRU) announces a share repurchase program. Under the program, the company will repurchase up to $1,000 million worth of its common shares. The program will be valid till December 31, 2026. Aankondiging • Nov 18
Prudential Financial Announces Executive Changes Prudential Financial, Inc. announced the appointment of Tina Madon as global head of investor relations. In this role, Madon will lead Prudential’s engagement with the investor community, partnering closely with its global leadership team to articulate Prudential’s evolution to a higher-growth company. Madon begins Dec. 1 and will report to Executive Vice President and Chief Financial Officer Yanela Frias. Madon joins Prudential from Lincoln Financial, where as head of investor relations she led a strategy to reposition Lincoln’s shareholder base and enhance analyst coverage, and worked closely with Lincoln’s executive leadership team to introduce new financial targets, a simplified investor narrative and greater transparency around earnings performance and disclosures. Before joining Lincoln, Tina held senior investor relations roles at Focus Financial Partners, Arbor Advisory Group, Och-Ziff Capital Management, and Merrill Lynch. She began her career as an investment banker at Lehman Brothers. Madon succeeds Bob McLaughlin, who will be retiring from Prudential at the end of 2025. Recent Insider Transactions • Nov 13
Executive Chairman recently sold €4.5m worth of stock On the 10th of November, Charles Lowrey sold around 48k shares on-market at roughly €92.96 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Charles' only on-market trade for the last 12 months. Declared Dividend • Nov 12
Dividend of US$1.35 announced Shareholders will receive a dividend of US$1.35. Ex-date: 17th November 2025 Payment date: 11th December 2025 Dividend yield will be 4.0%, which is lower than the industry average of 5.7%. Sustainability & Growth Dividend is covered by both earnings (73% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 8.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Nov 12
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Joe Wolk was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Nov 05
Prudential Financial, Inc. Declares Quarterly Dividend on Common Stock, Payable on December 11, 2025 Prudential Financial, Inc. announced the declaration of a quarterly dividend of $1.35 per share of Common Stock, payable on December 11, 2025, to shareholders of record at the close of business on November 18, 2025. Aankondiging • Oct 21
Funds managed by KKR & Co. Inc. (NYSE:KKR) agreed to acquire 11.27% stake in Peak Reinsurance Company Limited from Prudential Financial, Inc. (NYSE:PRU). Funds managed by KKR & Co. Inc. (NYSE:KKR) agreed to acquire 11.27% stake in Peak Reinsurance Company Limited from Prudential Financial, Inc. (NYSE:PRU) on October 20, 2025. As part of consideration, an undisclosed value is paid towards common equity of Peak Reinsurance Company Limited.
The transaction is subject to approval by regulatory board / committee. The expected completion of the transaction is October 20, 2025 to December 31, 2025. Aankondiging • Oct 02
Prudential Financial, Inc. to Report Q3, 2025 Results on Oct 29, 2025 Prudential Financial, Inc. announced that they will report Q3, 2025 results After-Market on Oct 29, 2025 Board Change • Oct 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Joe Wolk was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Sep 30
Prudential Financial Inc. Elects Joseph Wolk to Board of Directors as an Independent Director, Effective September 30, 2025 Prudential Financial, Inc. announced that Joseph Wolk has been elected to the Board of Directors as an independent director, effective September 30, 2025. He will serve on the Board’s Audit and Finance Committees. Wolk brings extensive experience shaping financial strategy and performance, most notably in his current role as executive vice president and chief financial officer at Johnson & Johnson, where he also serves on the company’s Executive Committee. Wolk also leads Johnson & Johnson’s global shared services, managing an array of functions for a global workforce of more than 130,000 employees. Since his 2018 appointment as chief financial officer, Wolk has led the company’s long-term financial strategy, capital allocation, and operational transformation initiatives, including the separation of Johnson & Johnson’s consumer health business. Wolk joined Johnson & Johnson in 1998 and has held numerous senior financial roles across its pharmaceutical and medical technology segments. He is the founding chair of Johnson & Johnson Impact Ventures, an investment fund focused on advancing underinvested healthcare solutions in developing countries. Before Johnson & Johnson, he held various accounting roles at AMETEK, Inc. He holds a JD from Temple University School of Law and a bachelor’s degree in finance from Saint Joseph’s University, where he was recently inducted into the Haub School of Business’ Hall of Fame. Aankondiging • Aug 26
Prudential Financial, Inc. Expands EssentialTerm Suite, Affordable and Flexible Life Insurance to Help Protect What Matters Most Prudential Financial, Inc. announced the expansion of its EssentialTerm Suite for policies of $250,000 face amount and above, offering more consumers greater choice to match their individual needs and budgets. Designed with the flexibility to transition to permanent coverage for long-term financial security, the suite of solutions helps customers protect what matters most now and as their needs change. Prudential's EssentialTerm Suite features two enhanced term life solutions issued by Pruco Life Insurance Company. EssentialTerm Value® is Prudential's most cost-effective option for consumers seeking temporary protection with the option to convert to a permanent policy as financial goals evolve. By converting to a permanent policy, consumers can benefit from lifelong coverage and additional benefits like cash-value growth. EssentialTerm Plus® offers a more robust conversion option for consumers who are focused on their long-term financial planning goals. Key features of the EssentialTerm Suite include: Flexible Term Options: A choice of 10-, 15-, 20- or 30-year term durations, with guaranteed consistent premium payments throughout the selected term; Conversion to Permanent Policies: The ability to convert to one of Prudential's permanent life insurance policies, maintaining the same health underwriting classification. Additionally, a conversion credit is available within the first seven years to help reduce premiums during the transition; Terminal Illness Rider: Automatically included, the rider allows access to a portion of the death benefit if the policyholder becomes terminally ill; Optional Riders: Customers can enhance the policy with additional riders, such as the waiver of premium in the event of disability, an accidental death benefit and convertible life insurance for a child. The EssentialTerm Suite is designed with a quick and straightforward approval process, featuring online interactions that take approximately 20 minutes. It also qualifies for PruFast Track, Prudential's accelerated underwriting process, which eliminates the need for medical exams and lab work. Additionally, applications can be seamlessly tracked and managed through Prudential's new Life Case Tracker. The EssentialTerm Suite joins Prudential's comprehensive portfolio of term and permanent life solutions, including universal life, indexed universal life, indexed variable universal life and variable universal life insurance. Declared Dividend • Aug 10
Dividend of US$1.35 announced Shareholders will receive a dividend of US$1.35. Ex-date: 18th August 2025 Payment date: 11th September 2025 Dividend yield will be 4.3%, which is lower than the industry average of 5.7%. Sustainability & Growth Dividend is not covered by earnings (117% earnings payout ratio) nor is it adequately covered by cash flows (91% cash payout ratio). The dividend has increased by an average of 9.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 30% to bring the payout ratio under control. EPS is expected to grow by 77% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Aankondiging • Aug 06
Prudential Financial, Inc. Declares Quarterly Dividend on Common Stock, Payable on September 11, 2025 Prudential Financial, Inc. announced the declaration of a quarterly dividend of $1.35 per share of Common Stock, payable on September 11, 2025, to shareholders of record at the close of business on August 19, 2025. Aankondiging • Aug 01
PGIM Announces $4.2 Billion Final Close of Middle Market Direct Lending Fund PGIM announced the final close of PGIM Senior Loan Opportunities II, L.P. ("PSLO II"), the second commingled private credit fund available to unaffiliated investors in its middle market direct lending series. PSLO II closed with over $4.2 billion in available capital commitments, making it one of the larger middle market direct lending private credit fundraises year to date, and reflecting strong support from a global base of institutional investors. Building on the success of its predecessor, PSLO II will provide senior secured financing to middle market companies across North America, Europe, and Australia. The fund attracted commitments from a diverse group of institutional investors, including insurance companies, pension funds, and sovereign wealth funds. PSLO II's strategy focuses on delivering attractive risk-adjusted returns through a diversified portfolio of directly originated senior loans to both sponsored and non-sponsored issuers. The fund has already begun deploying capital, with a strong pipeline of opportunities and a well-developed investment portfolio. Reported Earnings • Aug 01
Second quarter 2025 earnings released: EPS: US$1.51 (vs US$3.30 in 2Q 2024) Second quarter 2025 results: EPS: US$1.51 (down from US$3.30 in 2Q 2024). Revenue: US$12.6b (down 16% from 2Q 2024). Net income: US$533.0m (down 55% from 2Q 2024). Profit margin: 4.2% (down from 8.0% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Aankondiging • Jul 07
Prudential Financial Launches ActiveIncome Insurance Overlay, Delivering a New Category of Lifetime Income to Dimensional Managed Accounts Prudential Financial, Inc. announced the launch of ActiveIncome, a first-of-its-kind insurance overlay option now accessible through Dimensional Fund Advisors' unified managed accounts (UMA) platform. ActiveIncome expands access to retirement security by pioneering an innovative new category of lifetime income to managed accounts, using a contingent deferred annuity option to address the evolving needs of retirement investors who work with registered investment advisors (RIAs). Clients can stay invested, preserving liquidity and flexibility, while gaining the security of a seamless lifetime income stream that varies with investment performance, all without moving assets to an insurance provider. Prudential's ActiveIncome insurance overlay is accessible from the Dimensional UMA platform via the Dimensional Exchange LLC (FIDx) Insurance Overlay marketplace and supports all available investment options on the Dimensional UMA platform, including exchange-traded funds, mutual funds, separately managed accounts, and model strategies. Aankondiging • Jul 02
Prudential Financial, Inc. to Report Q2, 2025 Results on Jul 30, 2025 Prudential Financial, Inc. announced that they will report Q2, 2025 results After-Market on Jul 30, 2025 Aankondiging • Jul 01
Prudential Financial, Inc. Announces Board and Committee Changes, Effective June 30, 2025 Prudential Financial, Inc. elected Thomas D. Stoddard as an independent director. The appointment of Mr. Stoddard is effective June 30, 2025. Mr. Stoddard has been appointed to the Audit Committee and Investment Committee. Stoddard brings to Prudential 35 years of experience in the financial services sector, spanning insurance, asset management, and investment banking. He recently retired as vice chairman of Global Investment Banking at Bank of America, where his responsibilities included the expansion of insurance advisory capabilities. Previously, he was the group chief financial officer at Athora Ltd., a European life insurance and pensions holding company founded by Apollo Global Management and domiciled in Bermuda. He also served as group CFO and a member of the board at Aviva plc, a publicly traded British multinational insurance and asset management company, from 2014 to 2019. Additionally, Stoddard advised various financial institutions as a senior advisor to McKinsey & Company and as a senior managing director at Blackstone, where he advised AIG on its rescue and restructuring during the global financial crisis. Before joining Blackstone, he served as managing partner at Barrett Ellman Stoddard Capital Partners, a private equity investment and advisory firm he co-founded. He spent his early career in investment banking and started as a corporate lawyer with Cravath, Swaine & Moore. He holds a JD from the University of Chicago Law School and a bachelor’s degree in economics from Swarthmore College, where he was a McCabe Scholar. Declared Dividend • May 11
Dividend of US$1.35 announced Shareholders will receive a dividend of US$1.35. Ex-date: 19th May 2025 Payment date: 12th June 2025 Dividend yield will be 4.1%, which is lower than the industry average of 5.7%. Sustainability & Growth Dividend is covered by earnings (82% earnings payout ratio) but not covered by cash flows (247% cash payout ratio). The dividend has increased by an average of 9.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 53% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • May 07
Prudential Financial, Inc. Declares Quarterly Dividend on Common Stock, Payable on June 12, 2025 Prudential Financial, Inc. announced the declaration of a quarterly dividend of $1.35 per share of Common Stock, payable on June 12, 2025, to shareholders of record at the close of business on May 20, 2025. Reported Earnings • May 02
First quarter 2025 earnings released: EPS: US$1.97 (vs US$3.13 in 1Q 2024) First quarter 2025 results: EPS: US$1.97 (down from US$3.13 in 1Q 2024). Revenue: US$12.9b (down 45% from 1Q 2024). Net income: US$697.0m (down 38% from 1Q 2024). Profit margin: 5.4% (up from 4.8% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Insurance industry in Italy. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.