Reinsurance Group of America, Incorporated

Life Insurance

RGAStrained10 of 11 basics passed

$255.98

+0.02%

Market cap $16.7B

$255.98

+0.02%

Market cap $16.7B

Reinsurance Group of America Inc is an insurance holding company with operations in the United States, Latin America, Canada, Europe, Africa, Asia, and Australia.

It is a $16.7B financial services company. Revenue grew 19.4% over the last year, and it keeps 6¢ of every dollar of sales as profit. It trades at 11.1× earnings — in the cheapest third of its own history.

Website: rgare.com
Location: Chesterfield, MO
Employees: 4 300
Sector: Financial Services

Share price · 3 years

$145.03 → $255.98+76.5%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $26.0B
Profit: keeps 6¢ of every $1 sold; $1.51B
Free cash flow: cash left after running the business; $2.98B
Net debt: debt minus cash on hand; $1.20B
P/E: years of profit in the price; 11.1
EPS: earnings per share, TTM; $22.57
Dividend: pays out 16% of profit · 8% of FCF; 1.46%
Shares: down 2% since 2021 — buybacks; 66.8M
Volatility: beta vs the market — under 1 swings less; 0.42

Revenue, last 10 years

52-week range

Low $181.54$255.98High $255.98

Today's price is 100% of the way from the year's low to its high.

P/E vs its history5y

11.1×median 15.5×

Higher than 17% of past days — in the cheapest third of its own history.

Valuation vs own history

P/E

11.1×

83%

P/S

0.6×

24%

EV/EBITDA

8.3×

93%

P/B

1.2×

50%

FCF yield

57.9%

88%

Share of the last ~5 years that was pricier than today (cheaper than usual). Based on the daily valuation record.

Insider activity · 90 days

-$2.12Mnet selling

Purchases$0

Sales$2.12M

Insiders trading, last 14d0 buy · 0 sell

Standing in Financial Services

Size$16.7Btop 63%
Revenue growth+13%top 30%
Net margin6%top 81%
Return on equity11%top 63%
P/E11.1×top 28%
Dividend yield1.46%top 64%

Ranked against 129 Financial Services companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong valuation and growth; Profitability, Health and Moat lag behind.

Valuation100

P/E vs own history17th pct · 25/25
FCF yield17.8% · 25/25
P/S0.6x · 25/25
EV/EBITDA7.4x · 25/25

Growth77

Revenue CAGR9.2% · 12/25
Net income CAGR17.6% · 20/25
EPS CAGR ~5Y18.3% · 20/25
Fwd implied growth33.0% · 25/25

Profitability49

ROIC10.0% · 12/25
ROE11.3% · 12/25
Net margin5.8% · 13/25
Operating margin8.8% · 12/25

Health38

Altman Zn/a · 0/25
Current ration/a · 0/25
Interest coverage5.2x · 18/25
Net cash / debtD/A 1% · 20/25

Quality65

Piotroski F6/9 · 15/25
Beneish M-2.54 · 25/25
FCF conversionn/a · 0/25
Margin stabilityσ 2.1% · 25/25

Moat37

ROIC >12% years1/5 yrs · 0/25
Median gross marginn/a · 0/25
FCF-positive years7/7 yrs · 25/25
Worst-year net marginworst 2.8% · 12/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2020Financial
Became debt-free
cash now exceeds total debt
FY2017Financial
Best year on record
$1.82B net income
FY2016Financial
Profitable every year on record
10 consecutive profitable years in our data
FY2016Financial
Revenue already above $10B
$11.5B in first reported year
FY2016Financial
Positive free cash flow every year since
10-year streak

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$22 790 today — price return only

$23.7B revenue in FY2025

Revenue up 19.4% year over year

Profitable 10 years in a row

Positive free cash flow 10 years in a row

4 300 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Revenue growing 19.4% year over year
Interest covered 5.2× by operating earnings

Watch-outs

Nothing stands out as a concern in the available data.

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

10 of 11 checks passed

Revenue growing — the company sells more than a year ago+19.4% YoY
Profitable — makes more than it spends$1.51B TTM
Profit growing — earnings are higher than last year+32.3% YoY
Generates cash — cash left after running and investing$2.98B TTM
Debt under control — could handle its obligations~0.4y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$16.7B market cap
Not printing shares — share count not ballooning — you keep your slice-2.2% shares over ~5y
Proven track record — years of profitability behind it10/10 profitable years
Financially stable — balance sheet not near distresshealth score 18/100
Pays a dividend — returns cash to shareholdersyield 1.46%
Valuation not extreme — price not wildly above earningsP/E 11.1

Peer comparisonReinsurance Group of America, Incorporated vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
RGA this company	$16.7B	11.1	+19.4%	5.8%	Strained
BRK.A Berkshire Hathaway Inc.	$1.1T	11.6	+3.9%	22.3%	Mixed
BRK.B Berkshire Hathaway	$1.1T	11.6	+0.0%	18.0%	Strong
JPM JPMorgan Chase & Co.	$886.2B	13.6	+13.5%	32.6%	Strained
V VISA Inc.	$723.9B	31.9	+14.4%	50.8%	Solid
MA Mastercard Incorporated	$516.4B	31.7	+16.0%	46.3%	Mixed
BAC Bank of America Corporation	$380.4B	11.3	+15.9%	27.8%	Mixed

Head-to-head: RGA vs BRK.A · RGA vs BRK.B · RGA vs JPM

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 2Buy 7Hold 5Sell 1

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $26.0B · net income $1.51B (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

RevenueNet income

Revenue (TTM)

$26.0B

YoY 19.4%

Net income (TTM)

$1.51B

Margin 5.8%

Operating margin

8.8%

P/E ratio

11.1

Dividend yield

1.46%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	14.6	16.7	16.3	18.6	22.1	23.7
Gross profit	—	—	—	—	—	—
Operating income (EBIT)	—	1.5	0.8	1.2	1.0	1.5
Net income	0.4	0.6	0.6	0.9	0.7	1.2
EPS (diluted)	—	9.03	9.21	13.44	10.73	17.69

Cash flowFree cash flow $2.98B · operating cash flow $2.98B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$2.98B

Margin 11.5%

Operating cash flow (TTM)

$2.98B

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	3.3	4.2	1.3	4.0	9.4	4.1
Capital expenditure	-0.0	-0.0	-0.0	—	—	—
Free cash flow	3.3	4.2	1.3	4.0	9.4	4.1
FCF margin	22.6%	25.0%	8.1%	21.8%	42.4%	17.3%

Balance sheetAssets $157B · net debt $1.20B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $157B of assets is financed

91%

Liabilities $143B — borrowed moneyEquity $13.5B — owners' stake

Cash vs debt

Total debt $5.71B − cash $4.51B = net debt $1.20B

Cash on hand covers 79% of debt.

Interest coverage

5.2x

EBIT ÷ interest expense

ROE

11.3%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	3.6	3.0	3.1	3.2	3.7	4.5
Total assets	84.7	92.2	84.7	97.6	118.7	156.6
Total liabilities	70.3	79.2	80.5	88.5	107.8	143.0
Total debt	3.6	3.7	4.0	4.4	5.0	5.7
Equity	14.4	13.0	4.1	9.1	10.8	13.5
Net debt	-0.1	0.6	0.9	1.2	1.4	1.2

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of RGA on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $255.98 · market cap $16.7B.