RGA · Reinsurance Group of America Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $23.70B | $22.11B | $18.57B | $16.26B | $16.66B | $14.60B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $43.00M | $46.00M | $41.00M | $38.00M | $43.00M | $49.00M |
| Operating Income | $1.54B | $980.00M | $1.16B | $831.00M | $553.00M | $553.00M |
| Interest Expense | $366.00M | $304.00M | $257.00M | $184.00M | $127.00M | $170.00M |
| Income Tax | $351.00M | $256.00M | $251.00M | $204.00M | $74.00M | $138.00M |
| Net Income | $1.18B | $717.00M | $902.00M | $623.00M | $617.00M | $415.00M |
| EPS - Basic | $17.94 | $10.90 | $13.60 | $9.31 | $9.10 | $6.35 |
| EPS - Diluted | $17.69 | $10.73 | $13.44 | $9.21 | $9.04 | $6.31 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.17B | $3.33B | $2.97B | $2.93B | $2.95B | $3.41B |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - |
| Total Assets | $156.59B | $118.67B | $97.62B | $84.71B | $92.17B | $84.66B |
| Current Liabilities | - | - | - | - | - | - |
| Long-term Debt | $5.71B | $5.04B | $4.43B | $3.96B | $3.67B | $3.57B |
| Total Liabilities | $143.04B | $107.77B | $88.45B | $80.47B | $79.16B | $70.30B |
| Stockholders' Equity | $13.46B | $10.82B | $9.08B | $4.14B | $13.01B | $14.35B |
| Retained Earnings | $10.15B | $9.26B | $8.80B | $8.97B | $8.56B | $8.15B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.09B | $9.37B | $4.04B | $1.34B | $4.18B | $3.32B |
| Investing Cash Flow | ($12.09B) | ($12.54B) | ($4.07B) | ($5.69B) | ($4.63B) | ($2.68B) |
| Financing Cash Flow | $8.80B | $3.66B | $78.00M | $4.44B | $20.00M | $1.25B |
| CapEx | - | - | - | $25.00M | $19.00M | $28.00M |
| Free Cash Flow | - | - | - | $1.32B | $4.16B | $3.29B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 6.5% | 4.4% | 6.2% | 5.1% | 3.3% | 3.8% |
| EBITDA margin | 6.7% | 4.6% | 6.5% | 5.3% | 3.6% | 4.1% |
| Net margin | 5.0% | 3.2% | 4.9% | 3.8% | 3.7% | 2.8% |
| Free cash flow margin | - | - | - | 8.1% | 25.0% | 22.6% |
| FCF / Net income | - | - | - | 2.12 | 6.75 | 7.94 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - |
| Effective tax rate | 22.9% | 26.3% | 21.8% | 24.7% | 10.7% | 25.0% |
| Return on assets | 0.8% | 0.6% | 0.9% | 0.7% | 0.7% | 0.5% |
| Return on equity | 8.8% | 6.6% | 9.9% | 15.0% | 4.7% | 2.9% |
| Return on invested capital | 6.2% | 4.6% | 6.7% | 7.7% | 3.0% | 2.3% |
| Liquidity | ||||||
| Current ratio | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - |
| Leverage | ||||||
| Debt / Equity | 0.42 | 0.47 | 0.49 | 0.96 | 0.28 | 0.25 |
| Debt / Assets | 0.04 | 0.04 | 0.05 | 0.05 | 0.04 | 0.04 |
| Debt / EBITDA | 3.61 | 4.91 | 3.69 | 4.56 | 6.15 | 5.94 |
| Interest coverage | 4.2x | 3.2x | 4.5x | 4.5x | 4.4x | 3.3x |
| Equity multiplier | 11.63 | 10.97 | 10.75 | 20.44 | 7.08 | 5.90 |
| Liabilities / Assets | 0.91 | 0.91 | 0.91 | 0.95 | 0.86 | 0.83 |
| Efficiency | ||||||
| Asset turnover | 0.15 | 0.19 | 0.19 | 0.19 | 0.18 | 0.17 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 11.5x | 19.9x | 12.0x | 15.4x | 12.1x | 18.4x |
| P / B | 1.0x | 1.3x | 1.2x | 2.3x | 0.6x | 0.5x |
| P / S | 0.6x | 0.6x | 0.6x | 0.6x | 0.4x | 0.5x |
| EV / EBITDA | 9.6x | 15.6x | 10.3x | 12.3x | 13.8x | 12.9x |
| Growth | ||||||
| Revenue growth (YoY) | 7.2% | 19.1% | 14.2% | -2.4% | 14.1% | 2.1% |
| Revenue CAGR (3y) | 13.4% | 9.9% | 8.4% | 4.4% | 9.0% | 5.3% |
| Revenue CAGR (5y) | 10.2% | 9.1% | 7.6% | 5.4% | 7.7% | 7.0% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 57.1% | -15.5% | 39.6% | 50.3% | 0.0% | -51.1% |
| Net income growth (YoY) | 64.9% | -20.5% | 44.8% | 1.0% | 48.7% | -52.3% |
| EPS growth (YoY) | 64.9% | -20.2% | 45.9% | 1.9% | 43.3% | -53.7% |
| EPS CAGR (3y) | 24.3% | 5.9% | 28.7% | -12.2% | -6.3% | -38.9% |
| EPS CAGR (5y) | 22.9% | -4.7% | 4.1% | -19.8% | -3.5% | -3.3% |
| FCF growth (YoY) | - | - | - | -68.3% | 26.4% | 44.9% |
| FCF CAGR (5y) | - | - | - | -7.4% | 24.0% | 9.8% |
| Book value growth (YoY) | 24.5% | 19.1% | 119.1% | -68.1% | -9.3% | 23.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$699.00M totalCorporate And Other$699.00M · 100.0%
Product / service
$12.33B totalLife Insurance Segment$9.13B · 74.0%
Other Insurance Product Line$3.21B · 26.0%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- -Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Life Insurance
Comparing REINSURANCE GROUP OF AMERICA INC against the 5 most active filers in the same SIC group.
Dividends
$3.72/share trailing 12 months · +4.5% YoY
| Ex-date | Per share |
|---|---|
| May 19, 2026 | $0.9300 |
| Feb 17, 2026 | $0.9300 |
| Nov 10, 2025 | $0.9300 |
| Aug 12, 2025 | $0.9300 |
| May 13, 2025 | $0.8900 |
| Feb 18, 2025 | $0.8900 |
| Nov 12, 2024 | $0.8900 |
| Aug 13, 2024 | $0.8900 |
| May 13, 2024 | $0.8500 |
| Feb 12, 2024 | $0.8500 |
| Nov 13, 2023 | $0.8500 |
| Aug 14, 2023 | $0.8500 |
| May 15, 2023 | $0.8000 |
| Feb 13, 2023 | $0.8000 |
| Nov 14, 2022 | $0.8000 |
| Aug 15, 2022 | $0.8000 |
| May 16, 2022 | $0.7300 |
| Feb 14, 2022 | $0.7300 |
| Nov 15, 2021 | $0.7300 |
| Aug 16, 2021 | $0.7300 |
| May 17, 2021 | $0.7000 |
| Feb 17, 2021 | $0.7000 |
| Nov 16, 2020 | $0.7000 |
| Aug 13, 2020 | $0.7000 |