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Reinsurance Group of America (RGA) Financials

Reinsurance Group of America logo
$197.49 +1.99 (+1.02%)
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Annual Income Statements for Reinsurance Group of America

Annual Income Statements for Reinsurance Group of America

This table shows Reinsurance Group of America's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 502 701 1,822 716 870 415 1,170 517 902 717
Consolidated Net Income / (Loss)		 502 701 1,822 716 870 415 1,170 521 909 724
Net Income / (Loss) Continuing Operations		 502 701 1,822 716 870 415 1,170 521 909 724
Total Pre-Tax Income 		745 1,044 1,143 846 1,132 553 1,385 718 1,160 980
Total Revenue		 10,275 11,384 12,370 12,729 14,127 14,426 16,528 16,036 18,310 21,803
Net Interest Income / (Expense)		 -143 -138 -146 -147 -173 -170 -139 -191 -257 -304
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 143 138 146 147 173 170 139 191 257 304
Long-Term Debt Interest Expense		 143 138 146 147 173 170 139 191 257 304
Total Non-Interest Income		 10,418 11,522 12,516 12,876 14,300 14,596 16,667 16,227 18,567 22,107
Other Service Charges		 278 267 352 363 392 360 449 527 372 593
Net Realized & Unrealized Capital Gains on Investments		 1,570 2,045 2,366 1,997 2,611 2,542 3,705 2,622 3,110 3,671
Premiums Earned		 8,571 9,249 9,841 10,544 11,297 11,694 12,513 13,078 15,085 17,843
Total Non-Interest Expense		 9,531 10,340 11,227 11,883 12,995 13,873 14,576 15,027 17,212 20,855
Property & Liability Insurance Claims		 7,826 8,358 9,021 9,744 10,894 11,779 12,373 12,664 14,736 17,990
Amortization of Deferred Policy Acquisition Costs		 1,127 1,311 1,467 1,323 1,204 1,261 1,325 - 1,397 1,641
Other Operating Expenses		 554 646 710 786 868 816 936 1,009 1,089 1,268
Other Special Charges		 23 26 29 30 29 17 -58 10 -10 -44
Nonoperating Income / (Expense), net		 - - - - - - -567 -291 62 32
Income Tax Expense		 243 343 -679 130 262 138 215 197 251 256
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - - - 0.00 0.00 4.00 7.00 7.00
Basic Earnings per Share		 - - - - - - $17.26 $7.73 $13.60 $10.90
Weighted Average Basic Shares Outstanding		 66.55M 64.27M 64.43M 63.66M 62.58M 67.97M 67.19M 66.86M 65.76M 66.02M
Diluted Earnings per Share		 - - - - - - $17.13 $7.64 $13.44 $10.73
Weighted Average Diluted Shares Outstanding		 66.55M 64.27M 64.43M 63.66M 62.58M 67.97M 67.19M 66.86M 65.76M 66.02M
Weighted Average Basic & Diluted Shares Outstanding		 66.55M 64.27M 64.43M 63.66M 62.58M 67.97M 67.19M 66.86M 65.76M 66.02M
Cash Dividends to Common per Share		 $1.40 $1,560.00 $1.82 $2,200.00 $2.60 $2.80 $2.86 $3.06 $3.30 $3.48

Quarterly Income Statements for Reinsurance Group of America

This table shows Reinsurance Group of America's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -76 291 252 205 287 158 210 203 156 148 286
Consolidated Net Income / (Loss)		 -75 293 253 207 289 160 212 204 158 150 288
Net Income / (Loss) Continuing Operations		 -75 293 253 207 289 160 212 204 158 150 288
Total Pre-Tax Income 		-77 381 351 265 380 164 272 269 214 225 369
Total Revenue		 4,001 4,301 4,198 4,093 5,081 4,938 6,269 4,806 5,573 5,155 5,180
Net Interest Income / (Expense)		 -49 -56 -53 -63 -72 -69 -68 -72 -78 -86 -80
Total Interest Income		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Interest Expense		 49 56 53 63 72 69 68 72 78 86 80
Long-Term Debt Interest Expense		 49 56 53 63 72 69 68 72 78 86 80
Total Non-Interest Income		 4,050 4,357 4,251 4,156 5,153 5,007 6,337 4,878 5,651 5,241 5,260
Other Service Charges		 188 89 87 85 102 98 149 147 150 147 88
Net Realized & Unrealized Capital Gains on Investments		 615 822 779 734 796 801 812 811 1,110 938 1,153
Premiums Earned		 3,247 3,446 3,385 3,337 4,255 4,108 5,376 3,920 4,391 4,156 4,019
Total Non-Interest Expense		 3,852 3,873 3,873 3,815 4,783 4,741 6,021 4,627 5,208 4,999 4,867
Property & Liability Insurance Claims		 3,237 3,281 3,278 3,222 4,182 4,054 5,386 3,943 4,426 4,235 4,121
Amortization of Deferred Policy Acquisition Costs		 341 - 331 349 348 369 387 391 452 411 417
Other Operating Expenses		 251 289 250 275 274 290 283 301 299 385 300
Other Special Charges		 23 -20 14 -31 -21 28 -35 -8.00 31 -32 29
Nonoperating Income / (Expense), net		 -226 - 26 -13 82 -33 24 90 -151 69 56
Income Tax Expense		 -2.00 88 98 58 91 4.00 60 65 56 75 81
Net Income / (Loss) Attributable to Noncontrolling Interest		 1.00 2.00 1.00 2.00 2.00 2.00 2.00 1.00 2.00 2.00 2.00
Basic Earnings per Share		 ($1.13) $4.36 $3.77 $3.09 $4.34 $2.40 $3.20 $3.07 $2.37 $2.26 $4.33
Weighted Average Basic Shares Outstanding		 66.84M 66.86M 66.54M 66.21M 65.91M 65.76M 65.79M 65.86M 65.86M 66.02M 66.09M
Diluted Earnings per Share		 ($1.13) $4.31 $3.72 $3.05 $4.29 $2.38 $3.16 $3.03 $2.33 $2.21 $4.27
Weighted Average Diluted Shares Outstanding		 66.84M 66.86M 66.54M 66.21M 65.91M 65.76M 65.79M 65.86M 65.86M 66.02M 66.09M
Weighted Average Basic & Diluted Shares Outstanding		 66.84M 66.86M 66.54M 66.21M 65.91M 65.76M 65.79M 65.86M 65.86M 66.02M 66.09M
Cash Dividends to Common per Share		 $0.80 - $0.80 $0.80 $0.85 - $0.85 $0.85 $0.89 - $0.89

Annual Cash Flow Statements for Reinsurance Group of America

This table details how cash moves in and out of Reinsurance Group of America's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -120 -325 103 586 -441 1,959 -460 -21 43 356
Net Cash From Operating Activities		 2,089 1,466 1,982 1,581 2,307 3,322 4,182 1,343 4,044 9,370
Net Cash From Continuing Operating Activities		 2,089 1,466 1,982 1,581 2,307 3,322 3,012 1,210 3,103 8,820
Net Income / (Loss) Continuing Operations		 502 701 1,822 716 870 415 0.00 0.00 0.00 0.00
Depreciation Expense		 31 27 53 45 49 49 43 38 41 46
Amortization Expense		 -77 -94 -105 -57 -55 -46 -54 -71 -127 -214
Non-Cash Adjustments to Reconcile Net Income		 261 317 -991 175 63 -81 -1,047 154 557 572
Changes in Operating Assets and Liabilities, net		 1,371 514 1,203 702 1,380 2,985 4,070 1,089 2,632 8,416
Net Cash From Investing Activities		 -1,432 -2,826 -1,608 -637 -2,638 -2,680 -4,628 -5,688 -4,066 -12,545
Net Cash From Continuing Investing Activities		 -1,432 -2,826 -1,608 -637 -2,638 -2,680 -4,628 -5,652 -1,809 -12,545
Purchase of Investment Securities		 -7,395 -9,190 -10,108 -11,153 -17,492 -10,898 -19,684 -19,111 -15,031 -44,211
Divestitures		 - - - - 0.00 0.00 19 14 0.00 0.00
Sale and/or Maturity of Investments		 6,480 6,489 8,612 10,644 14,990 8,377 15,104 13,585 12,619 31,392
Other Investing Activities, net		 -492 -80 -68 -99 -102 -131 -67 - 603 274
Net Cash From Financing Activities		 -708 1,055 -324 -322 -121 1,254 20 4,436 78 3,661
Net Cash From Continuing Financing Activities		 -708 1,055 -324 -322 -121 1,254 20 4,609 -525 3,661
Net Change in Deposits		 - - - - 0.00 0.00 91 -44 227 268
Issuance of Debt		 164 800 0.00 0.00 599 598 494 690 890 640
Repayment of Debt		 -738 -605 -1,123 -793 -1,608 -1,025 -2,032 -1,546 -4,056 -4,759
Repurchase of Common Equity		 -385 -123 -109 -300 -101 -163 -99 -81 -227 -27
Payment of Dividends		 -93 -100 -117 -140 -163 -182 -194 -205 -219 -229
Other Financing Activities, Net		 291 1,057 1,025 911 1,152 1,545 1,760 5,795 2,860 7,768
Effect of Exchange Rate Changes		 -69 -20 53 -36 11 63 -34 -112 -13 -130
Cash Interest Paid		 148 157 173 170 180 166 160 163 217 213
Cash Income Taxes Paid		 42 61 37 142 44 108 368 129 298 78

Quarterly Cash Flow Statements for Reinsurance Group of America

This table details how cash moves in and out of Reinsurance Group of America's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents		 121 492 -1,207 -940 -778 2,968 -2,771 -2,306 -468 5,901 396
Net Cash From Operating Activities		 -835 2,420 -1,574 -244 -1,000 6,862 -5,736 -967 -1,067 17,140 -1,429
Net Cash From Continuing Operating Activities		 - 1,210 0.00 - - 3,103 0.00 - - 8,820 0.00
Net Income / (Loss) Continuing Operations		 - - 0.00 - - - 0.00 - - - 0.00
Net Cash From Investing Activities		 -1,584 -893 -1,705 -783 -104 -1,474 -3,720 -3,456 -1,207 -4,162 -1,695
Net Cash From Continuing Investing Activities		 -1,584 -857 -1,705 -783 -104 783 -3,720 -3,456 -1,207 -4,162 -1,695
Purchase of Investment Securities		 -4,197 -4,194 -4,253 -2,985 -3,234 -4,559 -10,043 -13,548 -8,964 -11,656 -9,772
Sale and/or Maturity of Investments		 2,624 3,443 2,467 2,088 3,042 5,022 6,226 10,014 7,675 7,477 7,957
Other Investing Activities, net		 -4.00 - 81 114 88 320 97 78 82 17 120
Net Cash From Financing Activities		 1,776 -25 497 -129 -639 349 1,005 1,220 639 797 2,067
Net Cash From Continuing Financing Activities		 1,776 148 497 -129 -639 -254 1,005 1,220 639 797 2,067
Net Change in Deposits		 - -12 11 13 17 186 89 62 70 47 50
Issuance of Debt		 700 -10 494 396 - - 0.00 640 - - 691
Repayment of Debt		 -606 -126 -881 -864 -1,309 -1,002 -1,413 -1,175 -1,307 -864 -1,128
Repurchase of Common Equity		 -27 -27 -67 -52 -50 -58 -16 -3.00 -7.00 -1.00 -38
Payment of Dividends		 -54 -53 -53 -54 -56 -56 -56 -56 -59 -58 -59
Other Financing Activities, Net		 1,763 376 993 432 759 676 2,401 1,752 1,942 1,673 2,551
Effect of Exchange Rate Changes		 -71 67 1.00 -28 -35 49 -56 -70 100 -104 24
Cash Interest Paid		 34 57 43 54 49 71 49 54 56 54 61
Cash Income Taxes Paid		 -11 21 29 132 79 58 16 25 9.00 28 63

Annual Balance Sheets for Reinsurance Group of America

This table presents Reinsurance Group of America's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 50,383 53,098 60,515 64,535 76,731 84,656 92,175 84,904 97,623 118,675
Cash and Due from Banks		 1,525 1,201 1,304 1,890 1,449 3,408 2,948 2,927 2,970 3,326
Trading Account Securities		 29,643 32,094 38,251 40,074 51,441 56,867 60,900 53,035 60,606 77,772
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accrued Investment Income		 339 347 393 428 493 511 533 630 759 986
Mortgage Servicing Rights		 3,130 3,776 4,401 4,966 5,706 5,787 6,283 6,590 7,377 8,839
Unearned Premiums Asset		 1,798 1,931 2,338 3,018 2,940 2,842 2,888 3,013 3,528 3,898
Deferred Acquisition Cost		 3,392 3,339 3,240 3,398 3,512 3,616 3,690 4,128 4,617 5,543
Other Assets		 10,556 10,411 10,589 10,761 11,190 11,625 14,933 14,581 17,766 18,311
Total Liabilities & Shareholders' Equity		 50,383 53,098 60,515 64,535 76,731 84,656 92,175 84,904 97,623 118,675
Total Liabilities		 44,248 46,005 50,945 56,085 65,130 70,304 79,161 77,733 88,452 107,769
Long-Term Debt		 3,197 3,929 3,572 3,470 3,579 3,961 3,847 3,961 4,427 5,042
Claims and Claim Expense		 4,095 4,263 4,992 5,643 5,711 6,413 6,993 2,480 2,730 2,693
Future Policy Benefits		 19,612 19,582 22,363 25,285 28,672 31,453 35,782 35,689 41,231 53,368
Other Long-Term Liabilities		 17,344 18,231 20,018 21,687 27,168 28,477 32,539 35,603 40,064 46,666
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 6,135 7,093 9,570 8,450 11,601 14,352 13,014 7,171 9,171 10,906
Total Preferred & Common Equity		 6,135 7,093 9,570 8,450 11,601 14,352 13,014 7,081 9,081 10,816
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 6,135 7,093 9,570 8,450 11,601 14,352 13,014 7,081 9,081 10,816
Common Stock		 1,817 1,849 1,872 1,900 1,938 2,407 2,462 2,503 2,545 2,601
Retained Earnings		 4,620 5,199 6,736 7,285 7,952 8,148 8,563 8,169 8,805 9,255
Treasury Stock		 -1,010 -1,095 -1,102 -1,371 -1,426 -1,562 -1,653 -1,720 -1,900 -1,889
Accumulated Other Comprehensive Income / (Loss)		 708 1,139 2,064 636 3,137 5,359 3,642 -1,871 -369 849
Noncontrolling Interest		 - - - - - - 0.00 90 90 90

Quarterly Balance Sheets for Reinsurance Group of America

This table presents Reinsurance Group of America's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
Total Assets		 82,705 89,120 89,040 87,422 106,000 109,888 120,258 128,210
Cash and Due from Banks		 3,512 3,294 2,598 2,820 5,935 4,596 5,195 5,151
Trading Account Securities		 50,632 56,223 56,372 54,304 65,971 70,635 78,304 84,660
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accrued Investment Income		 628 672 702 744 808 881 995 1,059
Mortgage Servicing Rights		 6,558 6,833 7,038 7,231 7,539 7,984 8,388 9,331
Unearned Premiums Asset		 2,820 3,114 3,321 3,279 3,342 3,635 3,738 3,749
Deferred Acquisition Cost		 3,887 4,257 4,286 4,289 4,673 4,720 5,477 5,649
Other Assets		 14,668 12,322 12,250 12,195 17,732 17,437 18,161 18,611
Total Liabilities & Shareholders' Equity		 82,705 89,120 89,040 87,422 106,000 109,888 120,258 128,210
Total Liabilities		 78,962 81,404 81,145 79,269 96,442 100,063 109,041 116,718
Long-Term Debt		 4,207 4,455 4,850 4,450 4,427 5,067 5,067 5,734
Claims and Claim Expense		 6,249 2,558 2,579 2,654 2,753 2,769 2,875 2,870
Future Policy Benefits		 33,715 38,222 38,239 36,474 47,067 50,779 55,933 59,836
Other Long-Term Liabilities		 34,791 35,908 35,242 35,467 42,195 41,448 45,166 48,278
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 3,743 7,716 7,895 8,153 9,558 9,825 11,217 11,492
Total Preferred & Common Equity		 3,653 7,626 7,805 8,063 9,468 9,735 11,127 11,402
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 3,653 7,626 7,805 8,063 9,468 9,735 11,127 11,402
Common Stock		 2,494 2,507 2,523 2,535 2,550 2,568 2,578 2,609
Retained Earnings		 8,820 8,336 8,483 8,713 8,934 9,076 9,166 9,443
Treasury Stock		 -1,697 -1,756 -1,803 -1,852 -1,891 -1,889 -1,889 -1,888
Accumulated Other Comprehensive Income / (Loss)		 -5,964 -1,461 -1,398 -1,333 -125 -20 1,272 1,238
Noncontrolling Interest		 90 90 90 90 90 90 90 90

Annual Metrics And Ratios for Reinsurance Group of America

This table displays calculated financial ratios and metrics derived from Reinsurance Group of America's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 -4.92% 10.79% 8.66% 2.90% 10.98% 2.12% 14.57% -2.98% 14.18% 19.08%
EBITDA Growth		 -24.18% 39.83% 11.69% -23.56% 35.01% -50.62% 249.10% -49.72% 3.69% -22.92%
EBIT Growth		 -26.15% 40.17% 9.49% -25.98% 33.81% -51.15% 252.98% -48.31% 8.82% -13.66%
NOPAT Growth		 -26.59% 39.68% 159.75% -60.70% 21.51% -52.30% 297.35% -55.60% 17.52% -18.60%
Net Income Growth		 -26.59% 39.68% 159.75% -60.70% 21.51% -52.30% 181.93% -55.47% 74.47% -20.35%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -55.40% 75.92% -20.16%
Operating Cash Flow Growth		 -10.60% -29.82% 35.22% -20.23% 45.92% 44.00% 25.89% -67.89% 201.12% 131.70%
Free Cash Flow Firm Growth		 262.95% -178.16% 69.92% 751.55% -223.33% -13.72% 214.09% 108.36% -124.85% -2.74%
Invested Capital Growth		 -7.56% 18.11% 19.23% -9.30% 27.35% 20.64% -7.93% -33.98% 22.15% 17.28%
Revenue Q/Q Growth		 0.84% 2.11% 1.37% 0.35% 3.68% 3.28% 0.97% -0.35% 3.60% 1.01%
EBITDA Q/Q Growth		 -4.41% 10.55% 1.17% -13.34% 17.03% 120.53% -53.82% -48.60% -23.85% -21.13%
EBIT Q/Q Growth		 -8.59% 9.30% -3.37% -12.20% 17.66% 120.42% -53.56% -46.87% -17.38% -4.15%
NOPAT Q/Q Growth		 -5.27% 4.01% 129.06% -60.71% 16.75% -8.19% 150.22% -21.86% -17.43% -11.34%
Net Income Q/Q Growth		 -5.27% 4.01% 129.06% -60.71% 16.75% -19.88% 97.30% -44.40% -12.76% -1.36%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -44.36% -12.56% -1.56%
Operating Cash Flow Q/Q Growth		 5.68% -34.27% 27.84% -20.06% 2.77% 0.00% -4.17% 287.57% 1,116.08% 1,131.94%
Free Cash Flow Firm Q/Q Growth		 135.01% 44.65% -128.53% 35.81% 11.22% -121.41% 109.24% -30.96% 55.54% 42.94%
Invested Capital Q/Q Growth		 -1.44% -7.60% 12.49% -1.31% -2.16% 6.50% 2.99% 40.03% 7.89% -2.06%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 6.80% 8.58% 8.82% 6.55% 7.97% 3.85% 11.74% 6.09% 5.53% 3.58%
EBIT Margin		 7.25% 9.17% 9.24% 6.65% 8.01% 3.83% 11.81% 6.29% 6.00% 4.35%
Profit (Net Income) Margin		 4.89% 6.16% 14.73% 5.63% 6.16% 2.88% 7.08% 3.25% 4.96% 3.32%
Tax Burden Percent		 67.42% 67.19% 159.41% 84.63% 76.86% 75.05% 84.48% 72.56% 78.36% 73.88%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 70.95% 71.16% 105.65% 103.38%
Effective Tax Rate		 32.58% 32.81% -59.41% 15.37% 23.14% 24.95% 15.52% 27.44% 21.64% 26.12%
Return on Invested Capital (ROIC)		 5.17% 6.89% 15.08% 5.71% 6.42% 2.48% 9.38% 5.23% 6.96% 4.74%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.17% 6.89% 15.08% 5.71% 6.42% 2.48% -2.89% -0.18% 8.12% 5.24%
Return on Net Nonoperating Assets (RNNOA)		 2.46% 3.71% 6.79% 2.23% 2.26% 0.72% -0.83% -0.07% 4.17% 2.47%
Return on Equity (ROE)		 7.63% 10.61% 21.87% 7.95% 8.68% 3.20% 8.55% 5.16% 11.12% 7.21%
Cash Return on Invested Capital (CROIC)		 13.03% -9.72% -2.46% 15.46% -17.64% -16.23% 17.63% 46.16% -12.98% -11.17%
Operating Return on Assets (OROA)		 1.57% 2.02% 2.01% 1.35% 1.60% 0.69% 2.21% 1.14% 1.20% 0.88%
Return on Assets (ROA)		 1.06% 1.36% 3.21% 1.15% 1.23% 0.51% 1.32% 0.59% 1.00% 0.67%
Return on Common Equity (ROCE)		 7.63% 10.61% 21.87% 7.95% 8.68% 3.20% 8.55% 5.14% 11.00% 7.15%
Return on Equity Simple (ROE_SIMPLE)		 8.18% 9.89% 19.04% 8.47% 7.50% 2.89% 8.99% 7.36% 10.01% 6.69%
Net Operating Profit after Tax (NOPAT)		 502 701 1,822 716 870 415 1,649 732 860 700
NOPAT Margin		 4.89% 6.16% 14.73% 5.63% 6.16% 2.88% 9.98% 4.57% 4.70% 3.21%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12.27% 5.41% -1.16% -0.50%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 92.75% 90.83% 90.76% 93.35% 91.99% 96.17% 88.19% 93.71% 94.00% 95.65%
Earnings before Interest and Taxes (EBIT)		 745 1,044 1,143 846 1,132 553 1,952 1,009 1,098 948
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 699 977 1,091 834 1,126 556 1,941 976 1,012 780
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.77 0.97 0.91 0.92 0.79 0.50 0.54 1.28 1.15 1.30
Price to Tangible Book Value (P/TBV)		 0.77 0.97 0.91 0.92 0.79 0.50 0.54 1.28 1.15 1.30
Price to Revenue (P/Rev)		 0.46 0.61 0.70 0.61 0.65 0.50 0.42 0.57 0.57 0.64
Price to Earnings (P/E)		 9.42 9.85 4.78 10.82 10.50 17.43 5.96 17.58 11.56 19.54
Dividend Yield		 1.95% 1.45% 1.35% 1.78% 1.78% 2.63% 2.77% 2.25% 2.09% 1.64%
Earnings Yield		 10.61% 10.15% 20.94% 9.25% 9.52% 5.74% 16.79% 5.69% 8.65% 5.12%
Enterprise Value to Invested Capital (EV/IC)		 0.69 0.87 0.83 0.78 0.74 0.43 0.47 0.92 0.88 0.99
Enterprise Value to Revenue (EV/Rev)		 0.62 0.85 0.89 0.73 0.80 0.54 0.48 0.64 0.65 0.73
Enterprise Value to EBITDA (EV/EBITDA)		 9.17 9.87 10.06 11.18 10.01 14.01 4.05 10.46 11.84 20.27
Enterprise Value to EBIT (EV/EBIT)		 8.60 9.23 9.60 11.02 9.95 14.08 4.03 10.12 10.91 16.68
Enterprise Value to NOPAT (EV/NOPAT)		 12.75 13.74 6.02 13.02 12.95 18.77 4.77 13.95 13.92 22.58
Enterprise Value to Operating Cash Flow (EV/OCF)		 3.07 6.58 5.54 5.90 4.88 2.34 1.88 7.60 2.96 1.69
Enterprise Value to Free Cash Flow (EV/FCFF)		 5.06 0.00 0.00 4.81 0.00 0.00 2.54 1.58 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.52 0.55 0.37 0.41 0.31 0.28 0.30 0.55 0.48 0.46
Long-Term Debt to Equity		 0.52 0.55 0.37 0.41 0.31 0.28 0.30 0.55 0.48 0.46
Financial Leverage		 0.48 0.54 0.45 0.39 0.35 0.29 0.29 0.39 0.51 0.47
Leverage Ratio		 7.22 7.82 6.82 6.94 7.05 6.22 6.46 8.77 11.17 10.77
Compound Leverage Factor		 7.22 7.82 6.82 6.94 7.05 6.22 4.58 6.24 11.80 11.14
Debt to Total Capital		 34.26% 35.65% 27.18% 29.11% 23.58% 21.63% 22.82% 35.58% 32.56% 31.62%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 34.26% 35.65% 27.18% 29.11% 23.58% 21.63% 22.82% 35.58% 32.56% 31.62%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.81% 0.66% 0.56%
Common Equity to Total Capital		 65.75% 64.35% 72.82% 70.89% 76.42% 78.37% 77.18% 63.61% 66.78% 67.82%
Debt to EBITDA		 4.58 4.02 3.27 4.16 3.18 7.12 1.98 4.06 4.37 6.46
Net Debt to EBITDA		 2.39 2.79 2.08 1.89 1.89 0.99 0.46 1.06 1.44 2.20
Long-Term Debt to EBITDA		 4.58 4.02 3.27 4.16 3.18 7.12 1.98 4.06 4.37 6.46
Debt to NOPAT		 6.37 5.60 1.96 4.85 4.11 9.54 2.33 5.41 5.15 7.20
Net Debt to NOPAT		 3.33 3.89 1.25 2.21 2.45 1.33 0.55 1.41 1.69 2.45
Long-Term Debt to NOPAT		 6.37 5.60 1.96 4.85 4.11 9.54 2.33 5.41 5.15 7.20
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.45% 1.10% 0.90%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 1,265 -989 -297 1,938 -2,390 -2,718 3,101 6,461 -1,606 -1,650
Operating Cash Flow to CapEx		 8,867.72% 3,283.27% 4,504.55% 5,451.72% 6,785.29% 11,864.29% 0.00% 959.29% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 8.86 -7.19 -2.04 13.18 -13.82 -15.99 22.31 33.83 -6.25 -5.43
Operating Cash Flow to Interest Expense		 14.62 10.65 13.58 10.76 13.34 19.54 30.09 7.03 15.74 30.82
Operating Cash Flow Less CapEx to Interest Expense		 14.45 10.33 13.27 10.56 13.14 19.38 30.09 6.30 15.74 30.82
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.22 0.22 0.22 0.20 0.20 0.18 0.19 0.18 0.20 0.20
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 9,332 11,022 13,142 11,920 15,180 18,313 16,861 11,132 13,598 15,948
Invested Capital Turnover		 1.06 1.12 1.02 1.02 1.04 0.86 0.94 1.15 1.48 1.48
Increase / (Decrease) in Invested Capital		 -763 1,690 2,119 -1,222 3,260 3,133 -1,452 -5,729 2,466 2,350
Enterprise Value (EV)		 6,404 9,637 10,972 9,324 11,266 7,788 7,867 10,213 11,978 15,814
Market Capitalization		 4,733 6,909 8,703 7,744 9,136 7,235 6,968 9,089 10,431 14,008
Book Value per Share		 $93.31 $110.47 $148.59 $134.61 $185.29 $211.25 $192.51 $105.95 $137.79 $164.22
Tangible Book Value per Share		 $93.31 $110.47 $148.59 $134.61 $185.29 $211.25 $192.51 $105.95 $137.79 $164.22
Total Capital		 9,332 11,022 13,142 11,920 15,180 18,313 16,861 11,132 13,598 15,948
Total Debt		 3,197 3,929 3,572 3,470 3,579 3,961 3,847 3,961 4,427 5,042
Total Long-Term Debt		 3,197 3,929 3,572 3,470 3,579 3,961 3,847 3,961 4,427 5,042
Net Debt		 1,671 2,729 2,269 1,580 2,130 553 899 1,034 1,457 1,716
Capital Expenditures (CapEx)		 24 45 44 29 34 28 0.00 140 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 479 211 -49 -24
Net Nonoperating Obligations (NNO)		 3,197 3,929 3,572 3,470 3,579 3,961 3,847 3,961 4,427 5,042
Total Depreciation and Amortization (D&A)		 -46 -67 -52 -12 -6.00 3.00 -11 -33 -86 -168
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $13.60 $10.90
Adjusted Weighted Average Basic Shares Outstanding		 65.21M 64.33M 64.48M 62.84M 62.58M 67.97M 67.19M 66.86M 65.76M 66.02M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $13.44 $10.73
Adjusted Weighted Average Diluted Shares Outstanding		 65.21M 64.33M 64.48M 62.84M 62.58M 67.97M 67.19M 66.86M 65.76M 66.02M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 65.21M 64.33M 64.48M 62.84M 62.58M 67.97M 67.19M 66.86M 65.76M 66.02M
Normalized Net Operating Profit after Tax (NOPAT)		 517 719 820 741 892 428 1,600 739 853 668
Normalized NOPAT Margin		 5.04% 6.31% 6.63% 5.82% 6.32% 2.97% 9.68% 4.61% 4.66% 3.06%
Pre Tax Income Margin		 7.25% 9.17% 9.24% 6.65% 8.01% 3.83% 8.38% 4.48% 6.34% 4.49%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 5.21 7.59 7.83 5.76 6.54 3.25 14.04 5.28 4.27 3.12
NOPAT to Interest Expense		 3.52 5.10 12.48 4.87 5.03 2.44 11.86 3.83 3.35 2.30
EBIT Less CapEx to Interest Expense		 5.05 7.26 7.53 5.56 6.35 3.09 14.04 4.55 4.27 3.12
NOPAT Less CapEx to Interest Expense		 3.35 4.77 12.18 4.67 4.83 2.28 11.86 3.10 3.35 2.30
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 18.60% 14.31% 6.42% 19.55% 18.74% 43.86% 16.58% 39.35% 24.09% 31.63%
Augmented Payout Ratio		 95.17% 31.83% 12.40% 61.45% 30.34% 83.13% 25.04% 54.89% 49.06% 35.36%

Quarterly Metrics And Ratios for Reinsurance Group of America

This table displays calculated financial ratios and metrics derived from Reinsurance Group of America's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -0.03% -1.31% 8.34% 6.06% 26.99% 14.81% 49.33% 17.42% 9.68% 4.39% -17.37%
EBITDA Growth		 538.24% -67.53% 21.72% 68.48% 100.00% -53.97% -23.69% -35.61% 22.48% -20.81% 26.21%
EBIT Growth		 538.24% -67.53% 21.72% 68.48% 100.00% -53.97% -23.69% -35.61% 22.48% -20.81% 26.21%
NOPAT Growth		 538.24% -58.67% 18.91% 82.51% 117.29% -34.40% -17.49% -37.49% 18.91% -45.89% 26.38%
Net Income Growth		 -240.91% -58.67% 28.43% 95.28% 485.33% -45.39% -16.21% -1.45% -45.33% -6.25% 35.85%
EPS Growth		 -253.13% -58.56% 27.84% 96.77% 479.65% -44.78% -15.05% -0.66% -45.69% -7.14% 35.13%
Operating Cash Flow Growth		 -156.00% 570.36% -865.64% -208.86% -19.76% 183.55% -264.42% -296.31% -6.70% 149.78% 75.09%
Free Cash Flow Firm Growth		 966.85% 178.67% -62.33% -138.02% -151.91% -137.76% -238.73% 27.65% 22.93% 1.22% -84.90%
Invested Capital Growth		 -51.44% -33.98% -7.13% 30.74% 58.53% 22.15% 14.90% 16.85% 29.21% 17.28% 23.17%
Revenue Q/Q Growth		 3.68% 7.50% -2.39% -2.50% 24.14% -2.81% 26.95% -23.34% 15.96% -7.50% 0.49%
EBITDA Q/Q Growth		 -9.70% 187.25% -24.07% -14.46% 7.19% -33.89% 25.89% -27.82% 103.91% -57.26% 100.64%
EBIT Q/Q Growth		 -9.70% 187.25% -24.07% -14.46% 7.19% -33.89% 25.89% -27.82% 103.91% -57.26% 100.64%
NOPAT Q/Q Growth		 -12.34% 180.92% -20.05% -7.30% 4.37% -15.20% 0.57% -29.77% 98.52% -61.41% 134.90%
Net Income Q/Q Growth		 -170.75% 490.67% -13.65% -18.18% 39.61% -44.64% 32.50% -3.77% -22.55% -5.06% 92.00%
EPS Q/Q Growth		 -172.90% 481.42% -13.69% -18.01% 40.66% -44.52% 32.77% -4.11% -23.10% -5.15% 93.21%
Operating Cash Flow Q/Q Growth		 -956.96% 389.82% -165.04% 84.50% -309.84% 786.20% -183.59% 83.14% -10.34% 1,706.37% -108.34%
Free Cash Flow Firm Q/Q Growth		 16.62% -29.37% -80.60% -337.95% -59.23% 48.63% 28.72% -24.10% -69.62% 34.16% -33.42%
Invested Capital Q/Q Growth		 -18.44% 40.03% 9.33% 4.72% -1.11% 7.89% 2.85% 6.49% 9.35% -2.06% 8.01%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 3.72% 9.95% 7.74% 6.79% 5.87% 3.99% 3.96% 3.72% 6.55% 3.03% 6.04%
EBIT Margin		 3.72% 9.95% 7.74% 6.79% 5.87% 3.99% 3.96% 3.72% 6.55% 3.03% 6.04%
Profit (Net Income) Margin		 -1.87% 6.81% 6.03% 5.06% 5.69% 3.24% 3.38% 4.24% 2.84% 2.91% 5.56%
Tax Burden Percent		 97.40% 76.90% 72.08% 78.11% 76.05% 97.56% 77.94% 75.84% 73.83% 66.67% 78.05%
Interest Burden Percent		 -51.68% 89.02% 108.00% 95.32% 127.52% 83.25% 109.68% 150.28% 58.63% 144.23% 117.89%
Effective Tax Rate		 0.00% 23.10% 27.92% 21.89% 23.95% 2.44% 22.06% 24.16% 26.17% 33.33% 21.95%
Return on Invested Capital (ROIC)		 3.45% 7.81% 7.22% 7.83% 7.67% 5.76% 4.81% 4.31% 7.23% 2.98% 6.26%
ROIC Less NNEP Spread (ROIC-NNEP)		 -1.21% 7.81% 7.68% 7.59% 9.11% 5.00% 5.23% 5.69% 4.88% 3.95% 7.12%
Return on Net Nonoperating Assets (RNNOA)		 -0.56% 3.02% 3.74% 4.76% 6.63% 2.56% 2.69% 3.18% 2.40% 1.86% 3.44%
Return on Equity (ROE)		 2.89% 10.82% 10.97% 12.59% 14.30% 8.33% 7.49% 7.50% 9.63% 4.84% 9.70%
Cash Return on Invested Capital (CROIC)		 76.96% 46.16% 11.96% -20.62% -35.14% -12.98% -7.60% -10.22% -20.02% -11.17% -15.95%
Operating Return on Assets (OROA)		 0.69% 1.80% 1.42% 1.30% 1.22% 0.80% 0.83% 0.79% 1.36% 0.61% 1.07%
Return on Assets (ROA)		 -0.35% 1.23% 1.10% 0.97% 1.18% 0.65% 0.71% 0.90% 0.59% 0.59% 0.98%
Return on Common Equity (ROCE)		 2.87% 10.78% 10.85% 12.43% 14.09% 8.24% 7.41% 7.42% 9.54% 4.80% 9.61%
Return on Equity Simple (ROE_SIMPLE)		 25.65% 0.00% 7.57% 8.69% 12.92% 0.00% 9.17% 8.89% 6.60% 0.00% 7.02%
Net Operating Profit after Tax (NOPAT)		 104 293 234 217 227 192 193 136 269 104 244
NOPAT Margin		 2.61% 6.81% 5.58% 5.31% 4.46% 3.89% 3.08% 2.82% 4.84% 2.02% 4.72%
Net Nonoperating Expense Percent (NNEP)		 4.66% 0.00% -0.45% 0.23% -1.44% 0.77% -0.42% -1.38% 2.34% -0.97% -0.86%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 96.28% 90.05% 92.26% 93.21% 94.14% 96.01% 96.04% 96.28% 93.45% 96.97% 93.96%
Earnings before Interest and Taxes (EBIT)		 149 428 325 278 298 197 248 179 365 156 313
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 149 428 325 278 298 197 248 179 365 156 313
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.21 1.28 1.13 1.15 1.17 1.15 1.33 1.38 1.29 1.30 1.14
Price to Tangible Book Value (P/TBV)		 2.21 1.28 1.13 1.15 1.17 1.15 1.33 1.38 1.29 1.30 1.14
Price to Revenue (P/Rev)		 0.50 0.57 0.53 0.54 0.53 0.57 0.62 0.64 0.66 0.64 0.63
Price to Earnings (P/E)		 8.65 17.58 15.06 13.40 9.12 11.56 14.66 15.67 19.74 19.54 16.39
Dividend Yield		 2.48% 2.25% 2.43% 2.37% 2.28% 2.09% 1.75% 1.66% 1.58% 1.64% 1.79%
Earnings Yield		 11.56% 5.69% 6.64% 7.46% 10.97% 8.65% 6.82% 6.38% 5.07% 5.12% 6.10%
Enterprise Value to Invested Capital (EV/IC)		 1.12 0.92 0.81 0.89 0.89 0.88 0.80 0.94 0.88 0.99 0.79
Enterprise Value to Revenue (EV/Rev)		 0.55 0.64 0.60 0.68 0.63 0.65 0.55 0.66 0.66 0.73 0.66
Enterprise Value to EBITDA (EV/EBITDA)		 4.67 10.46 9.24 9.61 8.39 11.84 10.96 15.19 14.47 20.27 13.50
Enterprise Value to EBIT (EV/EBIT)		 4.67 10.12 9.24 9.61 8.39 10.91 10.96 15.19 14.47 16.68 13.50
Enterprise Value to NOPAT (EV/NOPAT)		 9.47 13.95 17.09 16.73 10.70 13.92 13.65 19.06 18.12 22.58 18.17
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 7.60 0.00 0.00 0.00 2.96 0.00 0.00 0.00 1.69 1.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.95 1.58 6.53 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.12 0.55 0.58 0.61 0.55 0.48 0.46 0.52 0.45 0.46 0.50
Long-Term Debt to Equity		 1.12 0.55 0.58 0.61 0.55 0.48 0.46 0.52 0.45 0.46 0.50
Financial Leverage		 0.46 0.39 0.49 0.63 0.73 0.51 0.51 0.56 0.49 0.47 0.48
Leverage Ratio		 10.47 8.77 10.53 12.56 14.30 11.17 11.30 11.23 10.72 10.77 11.13
Compound Leverage Factor		 -5.41 7.81 11.37 11.97 18.24 9.30 12.39 16.87 6.29 15.54 13.12
Debt to Total Capital		 52.92% 35.58% 36.60% 38.05% 35.31% 32.56% 31.66% 34.03% 31.12% 31.62% 33.29%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 52.92% 35.58% 36.60% 38.05% 35.31% 32.56% 31.66% 34.03% 31.12% 31.62% 33.29%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.13% 0.81% 0.74% 0.71% 0.71% 0.66% 0.64% 0.60% 0.55% 0.56% 0.52%
Common Equity to Total Capital		 45.95% 63.61% 62.66% 61.24% 63.98% 66.78% 67.70% 65.37% 68.33% 67.82% 66.19%
Debt to EBITDA		 2.22 4.06 4.18 4.11 3.35 4.37 4.34 5.50 5.12 6.46 5.66
Net Debt to EBITDA		 0.37 1.06 1.09 1.91 1.23 1.44 -1.48 0.51 -0.13 2.20 0.58
Long-Term Debt to EBITDA		 2.22 4.06 4.18 4.11 3.35 4.37 4.34 5.50 5.12 6.46 5.66
Debt to NOPAT		 4.49 5.41 7.72 7.15 4.27 5.15 5.40 6.89 6.41 7.20 7.62
Net Debt to NOPAT		 0.74 1.41 2.01 3.32 1.56 1.69 -1.84 0.64 -0.16 2.45 0.77
Long-Term Debt to NOPAT		 4.49 5.41 7.72 7.15 4.27 5.15 5.40 6.89 6.41 7.20 7.62
Noncontrolling Interest Sharing Ratio		 0.54% 0.45% 1.06% 1.30% 1.51% 1.10% 1.04% 1.02% 0.93% 0.90% 0.86%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 8,526 6,022 1,168 -2,780 -4,426 -2,274 -1,621 -2,011 -3,412 -2,246 -2,997
Operating Cash Flow to CapEx		 -11,928.57% 2,000.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 174.01 107.54 22.04 -44.12 -61.48 -32.95 -23.83 -27.93 -43.74 -26.12 -37.46
Operating Cash Flow to Interest Expense		 -17.04 43.21 -29.70 -3.87 -13.89 99.45 -84.35 -13.43 -13.68 199.30 -17.86
Operating Cash Flow Less CapEx to Interest Expense		 -17.18 41.05 -29.70 -3.87 -13.89 99.45 -84.35 -13.43 -13.68 199.30 -17.86
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.18 0.18 0.18 0.19 0.21 0.20 0.21 0.21 0.21 0.20 0.18
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 7,950 11,132 12,171 12,745 12,603 13,598 13,985 14,892 16,284 15,948 17,226
Invested Capital Turnover		 1.32 1.15 1.29 1.48 1.72 1.48 1.56 1.53 1.49 1.48 1.33
Increase / (Decrease) in Invested Capital		 -8,422 -5,729 -934 2,997 4,653 2,466 1,814 2,147 3,681 2,350 3,241
Enterprise Value (EV)		 8,872 10,213 9,863 11,344 11,154 11,978 11,187 14,007 14,310 15,814 13,673
Market Capitalization		 8,087 9,089 8,612 9,002 9,434 10,431 12,605 13,446 14,348 14,008 13,000
Book Value per Share		 $54.52 $105.95 $114.06 $117.29 $121.78 $137.79 $143.91 $147.97 $168.96 $164.22 $172.69
Tangible Book Value per Share		 $54.52 $105.95 $114.06 $117.29 $121.78 $137.79 $143.91 $147.97 $168.96 $164.22 $172.69
Total Capital		 7,950 11,132 12,171 12,745 12,603 13,598 13,985 14,892 16,284 15,948 17,226
Total Debt		 4,207 3,961 4,455 4,850 4,450 4,427 4,427 5,067 5,067 5,042 5,734
Total Long-Term Debt		 4,207 3,961 4,455 4,850 4,450 4,427 4,427 5,067 5,067 5,042 5,734
Net Debt		 695 1,034 1,161 2,252 1,630 1,457 -1,508 471 -128 1,716 583
Capital Expenditures (CapEx)		 7.00 121 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 179 0.00 -19 10 -62 32 -19 -68 111 -46 -44
Net Nonoperating Obligations (NNO)		 4,207 3,961 4,455 4,850 4,450 4,427 4,427 5,067 5,067 5,042 5,734
Total Depreciation and Amortization (D&A)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $4.24 $4.36 $3.77 $3.09 $4.34 $2.40 $3.20 $3.07 $2.37 $2.26 $4.33
Adjusted Weighted Average Basic Shares Outstanding		 66.84M 66.86M 66.54M 66.21M 65.91M 65.76M 65.79M 65.86M 65.86M 66.02M 66.09M
Adjusted Diluted Earnings per Share		 $4.19 $4.31 $3.72 $3.05 $4.29 $2.38 $3.16 $3.03 $2.33 $2.21 $4.27
Adjusted Weighted Average Diluted Shares Outstanding		 66.84M 66.86M 66.54M 66.21M 65.91M 65.76M 65.79M 65.86M 65.86M 66.02M 66.09M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 66.84M 66.86M 66.54M 66.21M 65.91M 65.76M 65.79M 65.86M 65.86M 66.02M 66.09M
Normalized Net Operating Profit after Tax (NOPAT)		 120 278 244 193 211 220 166 130 292 83 267
Normalized NOPAT Margin		 3.01% 6.45% 5.82% 4.71% 4.15% 4.45% 2.65% 2.70% 5.25% 1.60% 5.15%
Pre Tax Income Margin		 -1.92% 8.86% 8.36% 6.47% 7.48% 3.32% 4.34% 5.60% 3.84% 4.36% 7.12%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 3.04 7.64 6.13 4.41 4.14 2.86 3.65 2.49 4.68 1.81 3.91
NOPAT to Interest Expense		 2.13 5.23 4.42 3.45 3.15 2.79 2.84 1.89 3.45 1.21 3.05
EBIT Less CapEx to Interest Expense		 2.90 5.48 6.13 4.41 4.14 2.86 3.65 2.49 4.68 1.81 3.91
NOPAT Less CapEx to Interest Expense		 1.99 3.07 4.42 3.45 3.15 2.79 2.84 1.89 3.45 1.21 3.05
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 21.45% 39.35% 36.22% 31.56% 20.73% 24.09% 25.58% 25.90% 30.93% 31.63% 29.00%
Augmented Payout Ratio		 32.66% 54.89% 57.19% 57.08% 39.54% 49.06% 45.85% 40.58% 42.37% 35.36% 35.13%

Key Financial Trends

The first quarter of 2025 saw a mix of strong profitability metrics alongside ongoing challenges in revenue and cash generation. While earnings and returns on capital improved substantially, top-line revenues and free cash flow remain under pressure.

  • Net income climbed to $288 M in Q1 2025 from $212 M a year ago, a 35.8% year-over-year increase.
  • Diluted EPS rose to $4.27 in Q1 2025 versus $3.16 in Q1 2024, up 35.1%.
  • Return on equity (ROE) improved to 9.7% from 7.5% in the year-ago quarter.
  • Net debt to EBITDA fell sharply to 0.58× from 2.20× a year earlier, reflecting significant deleveraging.
  • Book value per share increased to $172.69 from $143.91 in Q1 2024, a 20% gain.
  • Operating cash flow loss narrowed to –$1.43 B in Q1 2025 from –$5.74 B a year ago, but remains negative.
  • The quarterly dividend was maintained at $0.89 per share, supporting a yield near 1.8%.
  • Total revenue fell to $5.18 B from $6.27 B in Q1 2024, a 17.4% decline, driven by lower investment gains.
  • Free cash flow to the firm worsened to –$3.0 B from –$1.62 B in Q1 2024.
  • Interest expense increased to $80 M from $68 M in the same quarter last year, pressuring net interest margins.
06/20/25 11:50 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Reinsurance Group of America's Financials

When does Reinsurance Group of America's financial year end?

According to the most recent income statement we have on file, Reinsurance Group of America's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Reinsurance Group of America's net income changed over the last 9 years?

Reinsurance Group of America's net income were at $724 million at the end of 2024, a 20.4% decrease from 2023, and a 44.2% increase since 2015. View Reinsurance Group of America's forecast to see where analysts expect Reinsurance Group of America to go next.

How has Reinsurance Group of America's revenue changed over the last 9 years?

Over the last 9 years, Reinsurance Group of America's total revenue changed from $10.28 billion in 2015 to $21.80 billion in 2024, a change of 112.2%.

How much debt does Reinsurance Group of America have?

Reinsurance Group of America's total liabilities were at $107.77 billion at the end of 2024, a 21.8% increase from 2023, and a 143.6% increase since 2015.

How much cash does Reinsurance Group of America have?

In the past 9 years, Reinsurance Group of America's cash and equivalents has ranged from $1.20 billion in 2016 to $3.41 billion in 2020, and is currently $3.33 billion as of their latest financial filing in 2024.

How has Reinsurance Group of America's book value per share changed over the last 9 years?

Over the last 9 years, Reinsurance Group of America's book value per share changed from 93.31 in 2015 to 164.22 in 2024, a change of 76.0%.


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This page (NYSE:RGA) was last updated on 6/20/2025 by MarketBeat.com Staff
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