Annual Income Statements for RenaissanceRe
This table shows RenaissanceRe's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for RenaissanceRe
This table shows RenaissanceRe'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 |
Net Income / (Loss) Attributable to Common Shareholders |
|
-825 |
448 |
564 |
191 |
194 |
1,577 |
365 |
495 |
1,174 |
-199 |
161 |
Consolidated Net Income / (Loss) |
|
-1,189 |
693 |
840 |
375 |
417 |
1,989 |
618 |
729 |
1,633 |
-19 |
-25 |
Net Income / (Loss) Continuing Operations |
|
-1,189 |
693 |
840 |
375 |
417 |
1,989 |
618 |
729 |
1,633 |
-19 |
-25 |
Total Pre-Tax Income |
|
-1,186 |
699 |
869 |
381 |
426 |
1,434 |
634 |
708 |
1,735 |
-83 |
-71 |
Total Revenue |
|
1,274 |
2,018 |
2,193 |
1,853 |
1,836 |
3,179 |
2,576 |
2,829 |
3,974 |
2,223 |
3,443 |
Net Interest Income / (Expense) |
|
-12 |
-12 |
-12 |
0.00 |
0.00 |
-61 |
-23 |
0.00 |
0.00 |
-71 |
-27 |
Total Interest Income |
|
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
Total Interest Expense |
|
12 |
12 |
12 |
0.00 |
0.00 |
61 |
23 |
0.00 |
0.00 |
71 |
27 |
Long-Term Debt Interest Expense |
|
12 |
12 |
12 |
- |
- |
- |
23 |
- |
- |
- |
27 |
Total Non-Interest Income |
|
1,287 |
2,031 |
2,205 |
1,853 |
1,836 |
3,240 |
2,599 |
2,829 |
3,974 |
2,293 |
3,470 |
Other Service Charges |
|
2.83 |
7.69 |
-4.31 |
3.88 |
-5.87 |
0.14 |
-0.05 |
0.17 |
0.68 |
1.13 |
0.91 |
Net Realized & Unrealized Capital Gains on Investments |
|
-483 |
399 |
529 |
64 |
86 |
991 |
156 |
287 |
1,390 |
-235 |
749 |
Premiums Earned |
|
1,767 |
1,624 |
1,681 |
1,785 |
1,756 |
2,249 |
2,444 |
2,541 |
2,583 |
2,528 |
2,721 |
Total Non-Interest Expense |
|
2,461 |
1,319 |
1,324 |
1,473 |
1,410 |
1,745 |
1,942 |
2,121 |
2,239 |
2,306 |
3,514 |
Property & Liability Insurance Claims |
|
1,968 |
823 |
801 |
931 |
862 |
980 |
1,166 |
1,310 |
1,374 |
1,484 |
2,744 |
Other Operating Expenses |
|
10 |
12 |
13 |
38 |
40 |
36 |
39 |
59 |
50 |
-13 |
23 |
Amortization Expense |
|
418 |
413 |
432 |
423 |
426 |
594 |
631 |
644 |
690 |
678 |
647 |
Other Special Charges |
|
65 |
72 |
77 |
80 |
83 |
134 |
106 |
108 |
125 |
157 |
100 |
Income Tax Expense |
|
2.81 |
5.41 |
29 |
5.94 |
9.30 |
-554 |
15 |
-21 |
102 |
-64 |
-46 |
Preferred Stock Dividends Declared |
|
8.84 |
8.84 |
8.84 |
8.84 |
8.84 |
8.84 |
8.84 |
8.84 |
8.84 |
8.84 |
8.84 |
Net Income / (Loss) Attributable to Noncontrolling Interest |
|
-372 |
236 |
267 |
175 |
214 |
403 |
245 |
225 |
450 |
170 |
-195 |
Basic Earnings per Share |
|
($19.27) |
$10.40 |
$12.95 |
$4.10 |
$3.81 |
$31.54 |
$6.96 |
$9.44 |
$22.68 |
($3.77) |
$3.29 |
Weighted Average Basic Shares Outstanding |
|
43.70M |
43.72M |
43.93M |
51.18M |
51.17M |
52.69M |
52.88M |
52.16M |
51.94M |
49.25M |
48.65M |
Diluted Earnings per Share |
|
($19.27) |
$10.40 |
$12.91 |
$4.09 |
$3.80 |
$31.47 |
$6.94 |
$9.41 |
$22.62 |
($3.76) |
$3.27 |
Weighted Average Diluted Shares Outstanding |
|
43.70M |
43.72M |
43.93M |
51.18M |
51.17M |
52.69M |
52.88M |
52.16M |
51.94M |
49.25M |
48.65M |
Weighted Average Basic & Diluted Shares Outstanding |
|
43.70M |
43.72M |
43.93M |
51.18M |
51.17M |
52.69M |
52.88M |
52.16M |
51.94M |
49.25M |
48.65M |
Cash Dividends to Common per Share |
|
$0.37 |
- |
$0.38 |
$0.38 |
- |
- |
- |
- |
$0.39 |
- |
$0.40 |
Annual Cash Flow Statements for RenaissanceRe
This table details how cash moves in and out of RenaissanceRe'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 |
Net Change in Cash & Equivalents |
|
-19 |
-86 |
940 |
-254 |
271 |
358 |
122 |
-665 |
683 |
-201 |
Net Cash From Operating Activities |
|
425 |
485 |
1,026 |
1,222 |
2,137 |
1,993 |
1,235 |
1,604 |
1,912 |
4,165 |
Net Cash From Continuing Operating Activities |
|
512 |
322 |
1,026 |
1,222 |
2,137 |
1,993 |
1,235 |
1,604 |
1,912 |
4,165 |
Net Income / (Loss) Continuing Operations |
|
542 |
630 |
-355 |
269 |
950 |
993 |
-103 |
-1,160 |
3,620 |
2,961 |
Consolidated Net Income / (Loss) |
|
542 |
630 |
-355 |
269 |
950 |
993 |
-103 |
-1,160 |
3,620 |
2,961 |
Depreciation Expense |
|
18 |
29 |
31 |
0.12 |
-59 |
17 |
-21 |
-27 |
-135 |
258 |
Non-Cash Adjustments to Reconcile Net Income |
|
73 |
-147 |
-154 |
230 |
-415 |
-789 |
219 |
1,646 |
-490 |
-20 |
Changes in Operating Assets and Liabilities, net |
|
-208 |
-27 |
1,503 |
723 |
1,661 |
1,772 |
1,140 |
1,145 |
-1,083 |
966 |
Net Cash From Investing Activities |
|
-339 |
-165 |
-122 |
-2,537 |
-2,989 |
-2,305 |
-816 |
-3,016 |
-3,823 |
-3,061 |
Net Cash From Continuing Investing Activities |
|
-339 |
-165 |
-122 |
-2,537 |
-2,989 |
-2,305 |
-816 |
-3,016 |
-3,823 |
-3,061 |
Purchase of Investment Securities |
|
-10,519 |
-8,470 |
-10,113 |
-14,147 |
-20,306 |
-17,638 |
-16,575 |
-52,789 |
-67,833 |
-59,478 |
Sale and/or Maturity of Investments |
|
10,180 |
8,121 |
9,875 |
11,611 |
17,325 |
15,196 |
15,552 |
49,773 |
64,011 |
56,417 |
Net Cash From Financing Activities |
|
-94 |
-401 |
29 |
1,066 |
1,120 |
665 |
-302 |
725 |
2,589 |
-1,288 |
Net Cash From Continuing Financing Activities |
|
-94 |
-401 |
29 |
1,066 |
1,120 |
665 |
-302 |
725 |
2,589 |
-1,288 |
Issuance of Debt |
|
446 |
0.00 |
296 |
0.00 |
396 |
0.00 |
30 |
0.00 |
816 |
75 |
Issuance of Common Equity |
|
- |
0.00 |
0.00 |
250 |
0.00 |
1,096 |
0.00 |
0.00 |
1,352 |
0.00 |
Repayment of Debt |
|
- |
0.00 |
-250 |
0.00 |
0.00 |
-250 |
0.00 |
0.00 |
-30 |
-150 |
Repurchase of Common Equity |
|
-260 |
-309 |
-189 |
0.00 |
0.00 |
-63 |
-1,028 |
-167 |
0.00 |
-667 |
Payment of Dividends |
|
-76 |
-74 |
-74 |
-83 |
-96 |
-99 |
-101 |
-100 |
-110 |
-116 |
Other Financing Activities, Net |
|
-203 |
-18 |
245 |
658 |
820 |
107 |
582 |
992 |
562 |
-429 |
Effect of Exchange Rate Changes |
|
-11 |
-4.64 |
8.22 |
-5.10 |
2.48 |
4.49 |
6.15 |
22 |
5.54 |
-17 |
Cash Interest Paid |
|
41 |
54 |
44 |
46 |
53 |
49 |
21 |
46 |
74 |
88 |
Cash Income Taxes Paid |
|
10 |
-1.12 |
0.34 |
0.34 |
9.75 |
5.67 |
-4.26 |
3.13 |
27 |
100 |
Quarterly Cash Flow Statements for RenaissanceRe
This table details how cash moves in and out of RenaissanceRe'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 |
Net Change in Cash & Equivalents |
|
-194 |
-9.90 |
-131 |
-120 |
252 |
682 |
-271 |
20 |
-54 |
104 |
-44 |
Net Cash From Operating Activities |
|
601 |
733 |
436 |
191 |
772 |
512 |
683 |
1,212 |
1,490 |
779 |
158 |
Net Cash From Continuing Operating Activities |
|
601 |
733 |
436 |
191 |
772 |
512 |
683 |
1,212 |
1,490 |
779 |
158 |
Net Income / (Loss) Continuing Operations |
|
-1,189 |
693 |
840 |
375 |
417 |
1,989 |
618 |
729 |
1,633 |
-19 |
-25 |
Consolidated Net Income / (Loss) |
|
-1,189 |
693 |
840 |
375 |
417 |
1,989 |
618 |
729 |
1,633 |
-19 |
-25 |
Depreciation Expense |
|
-11 |
-26 |
-33 |
-40 |
-48 |
-14 |
16 |
9.96 |
226 |
6.85 |
3.74 |
Non-Cash Adjustments to Reconcile Net Income |
|
589 |
-178 |
-262 |
155 |
253 |
-637 |
165 |
139 |
-843 |
519 |
-190 |
Changes in Operating Assets and Liabilities, net |
|
1,212 |
243 |
-110 |
-299 |
150 |
-825 |
-116 |
335 |
475 |
272 |
369 |
Net Cash From Investing Activities |
|
-826 |
-1,234 |
-685 |
-2,497 |
-328 |
-314 |
-304 |
-979 |
-1,497 |
-280 |
-499 |
Net Cash From Continuing Investing Activities |
|
-826 |
-1,234 |
-685 |
-2,497 |
-328 |
-314 |
-304 |
-979 |
-1,497 |
-280 |
-499 |
Purchase of Investment Securities |
|
-8,749 |
-32,839 |
-12,631 |
-16,920 |
-15,850 |
-22,432 |
-14,909 |
-18,292 |
-13,906 |
-12,370 |
-14,228 |
Sale and/or Maturity of Investments |
|
7,973 |
31,267 |
11,947 |
14,424 |
15,522 |
22,118 |
14,605 |
17,313 |
12,410 |
12,090 |
13,729 |
Net Cash From Financing Activities |
|
19 |
500 |
116 |
2,186 |
-198 |
485 |
-645 |
-209 |
-58 |
-376 |
290 |
Net Cash From Continuing Financing Activities |
|
19 |
500 |
116 |
2,186 |
-198 |
485 |
-645 |
-209 |
-58 |
-376 |
290 |
Issuance of Debt |
|
- |
- |
- |
- |
-1.02 |
75 |
- |
- |
- |
- |
866 |
Repayment of Debt |
|
- |
- |
-30 |
- |
- |
- |
-75 |
- |
-25 |
-50 |
0.00 |
Repurchase of Common Equity |
|
-25 |
- |
- |
- |
- |
- |
- |
- |
-107 |
-452 |
-358 |
Payment of Dividends |
|
-25 |
-25 |
-26 |
-28 |
-28 |
-29 |
-29 |
-29 |
-29 |
-29 |
-28 |
Other Financing Activities, Net |
|
69 |
525 |
172 |
119 |
-168 |
438 |
-540 |
-146 |
103 |
154 |
-190 |
Effect of Exchange Rate Changes |
|
13 |
-9.31 |
2.07 |
0.32 |
5.01 |
-1.86 |
-5.21 |
-3.57 |
10 |
-19 |
7.50 |
Annual Balance Sheets for RenaissanceRe
This table presents RenaissanceRe'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 |
Total Assets |
|
11,555 |
12,352 |
15,226 |
18,676 |
26,330 |
30,821 |
33,960 |
36,553 |
49,007 |
50,708 |
Cash and Due from Banks |
|
507 |
421 |
1,362 |
1,108 |
1,379 |
1,737 |
1,859 |
1,194 |
1,878 |
1,677 |
Trading Account Securities |
|
7,309 |
7,399 |
7,917 |
9,299 |
12,803 |
15,564 |
16,144 |
17,551 |
24,612 |
28,108 |
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 |
|
40 |
38 |
42 |
51 |
72 |
67 |
56 |
122 |
206 |
238 |
Unearned Premiums Asset |
|
1,009 |
1,429 |
1,838 |
2,153 |
6,159 |
6,644 |
8,905 |
10,872 |
13,550 |
8,179 |
Deferred Acquisition Cost |
|
199 |
335 |
427 |
477 |
664 |
634 |
849 |
1,172 |
1,751 |
1,552 |
Intangible Assets |
|
265 |
251 |
243 |
237 |
262 |
250 |
243 |
238 |
775 |
704 |
Other Assets |
|
2,226 |
2,479 |
3,398 |
5,350 |
4,991 |
5,925 |
5,903 |
5,405 |
6,235 |
10,250 |
Total Liabilities & Shareholders' Equity |
|
11,555 |
12,352 |
15,226 |
18,676 |
26,330 |
30,821 |
33,960 |
36,553 |
49,007 |
50,708 |
Total Liabilities |
|
5,777 |
6,310 |
9,538 |
11,579 |
17,287 |
19,872 |
23,781 |
26,692 |
33,451 |
33,156 |
Short-Term Debt |
|
391 |
306 |
209 |
380 |
225 |
1,133 |
1,171 |
494 |
662 |
151 |
Long-Term Debt |
|
960 |
949 |
990 |
991 |
1,384 |
1,136 |
1,168 |
1,170 |
1,959 |
1,887 |
Claims and Claim Expense |
|
2,767 |
2,848 |
5,080 |
6,076 |
9,384 |
10,381 |
13,295 |
15,893 |
20,487 |
21,303 |
Unearned Premiums Liability |
|
889 |
1,232 |
1,478 |
1,716 |
2,531 |
2,764 |
3,531 |
4,559 |
6,136 |
5,950 |
Other Long-Term Liabilities |
|
769 |
976 |
1,782 |
2,416 |
3,763 |
4,458 |
4,616 |
4,576 |
4,208 |
3,864 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Redeemable Noncontrolling Interest |
|
1,046 |
1,176 |
1,297 |
2,052 |
3,071 |
3,388 |
3,554 |
4,535 |
6,101 |
6,978 |
Total Equity & Noncontrolling Interests |
|
4,732 |
4,867 |
4,391 |
5,045 |
5,971 |
7,560 |
6,624 |
5,325 |
9,455 |
10,574 |
Total Preferred & Common Equity |
|
4,732 |
4,867 |
4,391 |
5,045 |
5,971 |
7,560 |
6,624 |
5,325 |
9,455 |
10,574 |
Preferred Stock |
|
400 |
400 |
400 |
650 |
650 |
525 |
750 |
750 |
750 |
750 |
Total Common Equity |
|
4,332 |
4,467 |
3,991 |
4,395 |
5,321 |
7,035 |
5,874 |
4,575 |
8,705 |
9,824 |
Common Stock |
|
551 |
258 |
77 |
338 |
612 |
1,674 |
653 |
519 |
2,197 |
1,563 |
Retained Earnings |
|
3,779 |
4,208 |
3,914 |
4,058 |
4,711 |
5,374 |
5,233 |
4,071 |
6,522 |
8,276 |
Accumulated Other Comprehensive Income / (Loss) |
|
2.11 |
1.13 |
0.22 |
-1.43 |
-1.94 |
-13 |
-11 |
-15 |
-14 |
-15 |
Quarterly Balance Sheets for RenaissanceRe
This table presents RenaissanceRe'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 |
Total Assets |
|
35,936 |
38,270 |
41,400 |
40,843 |
50,944 |
51,568 |
52,756 |
53,633 |
Cash and Due from Banks |
|
1,204 |
1,064 |
944 |
1,196 |
1,607 |
1,627 |
1,573 |
1,633 |
Trading Account Securities |
|
15,957 |
18,032 |
19,070 |
19,352 |
24,877 |
26,168 |
28,731 |
28,539 |
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 |
|
85 |
122 |
148 |
154 |
197 |
226 |
223 |
217 |
Unearned Premiums Asset |
|
11,682 |
11,771 |
12,367 |
6,958 |
9,714 |
15,081 |
9,424 |
14,230 |
Deferred Acquisition Cost |
|
1,181 |
1,242 |
1,301 |
1,267 |
1,822 |
1,816 |
1,719 |
1,685 |
Intangible Assets |
|
239 |
237 |
235 |
234 |
759 |
737 |
717 |
686 |
Other Assets |
|
5,587 |
5,802 |
7,242 |
11,683 |
11,968 |
5,913 |
10,369 |
6,644 |
Total Liabilities & Shareholders' Equity |
|
35,936 |
38,270 |
41,400 |
40,843 |
50,944 |
51,568 |
52,756 |
53,633 |
Total Liabilities |
|
26,879 |
27,047 |
28,321 |
27,592 |
34,854 |
35,053 |
34,653 |
36,595 |
Short-Term Debt |
|
590 |
389 |
548 |
812 |
1,428 |
778 |
607 |
552 |
Long-Term Debt |
|
1,170 |
1,141 |
1,882 |
1,883 |
1,884 |
1,960 |
1,936 |
2,754 |
Claims and Claim Expense |
|
15,663 |
15,997 |
16,138 |
15,955 |
20,370 |
20,741 |
21,221 |
22,857 |
Unearned Premiums Liability |
|
5,046 |
5,251 |
5,717 |
5,222 |
7,248 |
7,697 |
7,041 |
6,999 |
Other Long-Term Liabilities |
|
4,410 |
4,270 |
4,035 |
3,720 |
3,924 |
3,877 |
3,848 |
3,433 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Redeemable Noncontrolling Interest |
|
4,175 |
5,357 |
5,676 |
5,662 |
6,298 |
6,335 |
6,861 |
6,690 |
Total Equity & Noncontrolling Interests |
|
4,882 |
5,866 |
7,403 |
7,589 |
9,793 |
10,179 |
11,243 |
10,349 |
Total Preferred & Common Equity |
|
4,882 |
5,866 |
7,403 |
7,589 |
9,793 |
10,179 |
11,243 |
10,349 |
Preferred Stock |
|
750 |
750 |
750 |
750 |
750 |
750 |
750 |
750 |
Total Common Equity |
|
4,132 |
5,116 |
6,653 |
6,839 |
9,043 |
9,429 |
10,493 |
9,599 |
Common Stock |
|
509 |
512 |
1,876 |
1,888 |
2,190 |
2,101 |
2,011 |
1,196 |
Retained Earnings |
|
3,639 |
4,619 |
4,790 |
4,965 |
6,866 |
7,341 |
8,495 |
8,418 |
Accumulated Other Comprehensive Income / (Loss) |
|
-17 |
-15 |
-14 |
-15 |
-14 |
-13 |
-13 |
-15 |
Annual Metrics And Ratios for RenaissanceRe
This table displays calculated financial ratios and metrics derived from RenaissanceRe's official financial filings.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
19.00% |
13.99% |
22.17% |
-1.54% |
83.91% |
37.33% |
2.11% |
-4.17% |
80.79% |
28.03% |
EBITDA Growth |
|
-29.96% |
28.21% |
-145.01% |
188.48% |
88.18% |
104.80% |
-113.34% |
-822.14% |
338.83% |
9.29% |
EBIT Growth |
|
-27.73% |
27.00% |
-152.06% |
180.02% |
110.72% |
79.97% |
-111.46% |
-968.14% |
355.17% |
-3.76% |
NOPAT Growth |
|
-20.99% |
16.19% |
-136.46% |
217.06% |
99.38% |
85.22% |
-108.04% |
-968.14% |
524.31% |
-18.22% |
Net Income Growth |
|
-20.99% |
16.19% |
-156.29% |
175.82% |
253.37% |
4.50% |
-110.42% |
-1,021.25% |
412.13% |
-18.22% |
EPS Growth |
|
-26.35% |
23.17% |
-153.81% |
179.84% |
231.77% |
-6.02% |
-110.25% |
-1,524.20% |
304.98% |
-32.64% |
Operating Cash Flow Growth |
|
-35.67% |
14.07% |
111.60% |
19.10% |
74.94% |
-6.76% |
-38.03% |
29.87% |
19.20% |
117.87% |
Free Cash Flow Firm Growth |
|
-266.55% |
140.74% |
-61.04% |
-827.20% |
-25.48% |
4.58% |
139.45% |
-77.56% |
-2,277.64% |
151.05% |
Invested Capital Growth |
|
30.83% |
2.34% |
-5.62% |
22.97% |
25.79% |
24.08% |
-5.30% |
-7.93% |
57.71% |
7.77% |
Revenue Q/Q Growth |
|
3.68% |
-1.37% |
7.08% |
2.88% |
3.88% |
32.96% |
-14.81% |
24.36% |
14.70% |
-7.62% |
EBITDA Q/Q Growth |
|
-14.86% |
-7.59% |
-14.87% |
-45.54% |
-33.16% |
738.63% |
-120.15% |
36.51% |
33.56% |
-31.52% |
EBIT Q/Q Growth |
|
-14.86% |
-7.45% |
-13.93% |
-40.16% |
-30.63% |
897.34% |
-117.08% |
37.70% |
30.98% |
-33.64% |
NOPAT Q/Q Growth |
|
-14.87% |
-5.21% |
-13.93% |
-31.94% |
-31.78% |
1,235.78% |
-111.29% |
37.70% |
55.71% |
-40.41% |
Net Income Q/Q Growth |
|
-14.87% |
-5.21% |
-33.53% |
-31.94% |
20.91% |
17.97% |
48.30% |
25.88% |
55.71% |
-40.41% |
EPS Q/Q Growth |
|
-21.22% |
-1.64% |
-34.87% |
-31.14% |
20.67% |
23.87% |
40.53% |
18.27% |
67.53% |
-50.01% |
Operating Cash Flow Q/Q Growth |
|
-1.03% |
-24.63% |
45.27% |
-6.93% |
33.77% |
-9.53% |
-15.70% |
23.04% |
-10.35% |
6.83% |
Free Cash Flow Firm Q/Q Growth |
|
12.05% |
-22.01% |
-49.37% |
-70.93% |
18.26% |
44.46% |
-71.22% |
213.84% |
-8.11% |
478.48% |
Invested Capital Q/Q Growth |
|
-2.21% |
-0.89% |
1.22% |
6.29% |
-1.08% |
-2.18% |
3.76% |
6.55% |
13.99% |
-5.12% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
34.79% |
39.13% |
-14.42% |
12.96% |
13.26% |
19.77% |
-2.58% |
-24.86% |
32.83% |
28.03% |
EBIT Margin |
|
33.57% |
37.40% |
-15.94% |
12.95% |
14.84% |
19.44% |
-2.18% |
-24.32% |
34.32% |
25.80% |
Profit (Net Income) Margin |
|
36.67% |
37.38% |
-17.22% |
13.26% |
25.48% |
19.39% |
-1.98% |
-23.14% |
39.95% |
25.52% |
Tax Burden Percent |
|
109.24% |
99.95% |
108.07% |
102.40% |
171.72% |
99.71% |
90.65% |
95.16% |
116.40% |
98.91% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
-9.24% |
0.05% |
0.00% |
-2.40% |
3.11% |
0.29% |
0.00% |
0.00% |
-16.40% |
1.09% |
Return on Invested Capital (ROIC) |
|
8.62% |
8.73% |
-3.24% |
3.50% |
5.61% |
8.32% |
-0.62% |
-7.10% |
24.38% |
15.68% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
8.62% |
8.73% |
-13.43% |
3.50% |
33.39% |
8.32% |
-1.64% |
-22.42% |
24.38% |
15.68% |
Return on Net Nonoperating Assets (RNNOA) |
|
1.44% |
1.93% |
-2.81% |
0.70% |
6.17% |
1.61% |
-0.36% |
-4.48% |
4.11% |
2.21% |
Return on Equity (ROE) |
|
10.06% |
10.66% |
-6.05% |
4.21% |
11.78% |
9.93% |
-0.98% |
-11.58% |
28.49% |
17.88% |
Cash Return on Invested Capital (CROIC) |
|
-18.09% |
6.43% |
2.55% |
-17.10% |
-17.23% |
-13.17% |
4.82% |
1.16% |
-20.41% |
8.19% |
Operating Return on Assets (OROA) |
|
5.02% |
5.27% |
-2.38% |
1.55% |
2.46% |
3.49% |
-0.35% |
-3.46% |
7.27% |
6.00% |
Return on Assets (ROA) |
|
5.49% |
5.27% |
-2.57% |
1.59% |
4.22% |
3.48% |
-0.32% |
-3.29% |
8.46% |
5.94% |
Return on Common Equity (ROCE) |
|
7.28% |
7.94% |
-4.36% |
2.76% |
7.09% |
6.14% |
-0.60% |
-6.04% |
14.88% |
10.01% |
Return on Equity Simple (ROE_SIMPLE) |
|
11.46% |
12.95% |
-8.08% |
5.33% |
15.91% |
13.14% |
-1.56% |
-21.78% |
38.29% |
28.00% |
Net Operating Profit after Tax (NOPAT) |
|
542 |
630 |
-230 |
269 |
536 |
993 |
-80 |
-853 |
3,620 |
2,961 |
NOPAT Margin |
|
36.67% |
37.38% |
-11.15% |
13.26% |
14.38% |
19.39% |
-1.53% |
-17.02% |
39.95% |
25.52% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
10.19% |
0.00% |
-27.78% |
0.00% |
1.02% |
15.32% |
0.00% |
0.00% |
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 |
|
66.43% |
62.60% |
115.94% |
87.05% |
85.16% |
80.56% |
102.18% |
124.32% |
65.68% |
74.20% |
Earnings before Interest and Taxes (EBIT) |
|
496 |
630 |
-328 |
263 |
553 |
996 |
-114 |
-1,219 |
3,110 |
2,993 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
515 |
660 |
-297 |
263 |
494 |
1,013 |
-135 |
-1,246 |
2,975 |
3,252 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.06 |
1.18 |
1.19 |
1.17 |
1.57 |
1.16 |
1.30 |
1.73 |
1.14 |
1.32 |
Price to Tangible Book Value (P/TBV) |
|
1.13 |
1.25 |
1.27 |
1.24 |
1.65 |
1.20 |
1.36 |
1.83 |
1.26 |
1.42 |
Price to Revenue (P/Rev) |
|
3.11 |
3.11 |
2.31 |
2.53 |
2.23 |
1.60 |
1.46 |
1.58 |
1.10 |
1.11 |
Price to Earnings (P/E) |
|
11.25 |
10.92 |
0.00 |
26.05 |
11.70 |
11.18 |
0.00 |
0.00 |
3.95 |
7.04 |
Dividend Yield |
|
1.14% |
0.97% |
1.08% |
1.03% |
0.72% |
0.87% |
0.87% |
0.81% |
0.78% |
0.63% |
Earnings Yield |
|
8.89% |
9.15% |
0.00% |
3.84% |
8.55% |
8.95% |
0.00% |
0.00% |
25.34% |
14.20% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.97 |
1.05 |
0.91 |
0.96 |
1.15 |
0.95 |
0.99 |
1.19 |
0.97 |
1.07 |
Enterprise Value to Revenue (EV/Rev) |
|
4.66 |
4.54 |
3.05 |
4.00 |
3.29 |
2.46 |
2.37 |
2.73 |
1.94 |
1.81 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
13.39 |
11.61 |
0.00 |
30.85 |
24.84 |
12.46 |
0.00 |
0.00 |
5.90 |
6.46 |
Enterprise Value to EBIT (EV/EBIT) |
|
13.88 |
12.15 |
0.00 |
30.86 |
22.19 |
12.67 |
0.00 |
0.00 |
5.65 |
7.02 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
12.71 |
12.16 |
0.00 |
30.14 |
22.90 |
12.71 |
0.00 |
0.00 |
4.85 |
7.10 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
16.21 |
15.80 |
6.13 |
6.63 |
5.75 |
6.33 |
10.05 |
8.54 |
9.19 |
5.05 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
16.52 |
34.81 |
0.00 |
0.00 |
0.00 |
20.02 |
98.38 |
0.00 |
13.58 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.23 |
0.21 |
0.21 |
0.19 |
0.18 |
0.21 |
0.23 |
0.17 |
0.17 |
0.12 |
Long-Term Debt to Equity |
|
0.17 |
0.16 |
0.17 |
0.14 |
0.15 |
0.10 |
0.11 |
0.12 |
0.13 |
0.11 |
Financial Leverage |
|
0.17 |
0.22 |
0.21 |
0.20 |
0.18 |
0.19 |
0.22 |
0.20 |
0.17 |
0.14 |
Leverage Ratio |
|
1.83 |
2.02 |
2.35 |
2.65 |
2.79 |
2.86 |
3.07 |
3.52 |
3.37 |
3.01 |
Compound Leverage Factor |
|
1.83 |
2.02 |
2.35 |
2.65 |
2.79 |
2.86 |
3.07 |
3.52 |
3.37 |
3.01 |
Debt to Total Capital |
|
18.96% |
17.19% |
17.40% |
16.20% |
15.11% |
17.17% |
18.69% |
14.44% |
14.42% |
10.40% |
Short-Term Debt to Total Capital |
|
5.49% |
4.19% |
3.03% |
4.49% |
2.11% |
8.57% |
9.35% |
4.28% |
3.64% |
0.77% |
Long-Term Debt to Total Capital |
|
13.47% |
13.00% |
14.37% |
11.70% |
12.99% |
8.60% |
9.33% |
10.16% |
10.78% |
9.63% |
Preferred Equity to Total Capital |
|
5.61% |
5.48% |
5.81% |
7.68% |
6.10% |
3.97% |
5.99% |
6.51% |
4.13% |
3.83% |
Noncontrolling Interests to Total Capital |
|
14.67% |
16.11% |
18.83% |
24.23% |
28.83% |
25.64% |
28.39% |
39.35% |
33.57% |
35.62% |
Common Equity to Total Capital |
|
60.76% |
61.21% |
57.96% |
51.90% |
49.96% |
53.23% |
46.93% |
39.70% |
47.89% |
50.15% |
Debt to EBITDA |
|
2.63 |
1.90 |
-4.04 |
5.22 |
3.26 |
2.24 |
-17.31 |
-1.34 |
0.88 |
0.63 |
Net Debt to EBITDA |
|
1.64 |
1.26 |
0.55 |
1.00 |
0.47 |
0.53 |
-3.55 |
-0.38 |
0.25 |
0.11 |
Long-Term Debt to EBITDA |
|
1.87 |
1.44 |
-3.33 |
3.77 |
2.80 |
1.12 |
-8.65 |
-0.94 |
0.66 |
0.58 |
Debt to NOPAT |
|
2.49 |
1.99 |
-5.22 |
5.10 |
3.00 |
2.28 |
-29.28 |
-1.95 |
0.72 |
0.69 |
Net Debt to NOPAT |
|
1.56 |
1.32 |
0.71 |
0.98 |
0.43 |
0.54 |
-6.01 |
-0.55 |
0.21 |
0.12 |
Long-Term Debt to NOPAT |
|
1.77 |
1.51 |
-4.31 |
3.69 |
2.58 |
1.14 |
-14.63 |
-1.37 |
0.54 |
0.64 |
Noncontrolling Interest Sharing Ratio |
|
27.63% |
25.56% |
27.90% |
34.40% |
39.80% |
38.19% |
38.90% |
47.85% |
47.75% |
44.03% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-1,138 |
464 |
181 |
-1,313 |
-1,648 |
-1,572 |
620 |
139 |
-3,031 |
1,547 |
Operating Cash Flow to CapEx |
|
0.00% |
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 |
|
-31.37 |
11.00 |
4.09 |
-27.90 |
-28.23 |
-31.16 |
13.05 |
2.88 |
-41.42 |
16.50 |
Operating Cash Flow to Interest Expense |
|
11.72 |
11.50 |
23.21 |
25.96 |
36.62 |
39.50 |
25.98 |
33.18 |
26.12 |
44.42 |
Operating Cash Flow Less CapEx to Interest Expense |
|
11.72 |
11.50 |
23.21 |
25.96 |
36.62 |
39.50 |
25.98 |
33.18 |
26.12 |
44.42 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.15 |
0.14 |
0.15 |
0.12 |
0.17 |
0.18 |
0.16 |
0.14 |
0.21 |
0.23 |
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 |
|
7,130 |
7,297 |
6,886 |
8,468 |
10,652 |
13,217 |
12,517 |
11,525 |
18,176 |
19,589 |
Invested Capital Turnover |
|
0.24 |
0.23 |
0.29 |
0.26 |
0.39 |
0.43 |
0.41 |
0.42 |
0.61 |
0.61 |
Increase / (Decrease) in Invested Capital |
|
1,680 |
167 |
-410 |
1,582 |
2,184 |
2,565 |
-700 |
-992 |
6,651 |
1,413 |
Enterprise Value (EV) |
|
6,891 |
7,658 |
6,285 |
8,105 |
12,279 |
12,620 |
12,415 |
13,693 |
17,559 |
21,012 |
Market Capitalization |
|
4,600 |
5,250 |
4,751 |
5,140 |
8,328 |
8,175 |
7,631 |
7,938 |
9,966 |
12,923 |
Book Value per Share |
|
$98.80 |
$108.53 |
$99.71 |
$109.15 |
$120.52 |
$138.46 |
$127.65 |
$104.69 |
$170.11 |
$189.14 |
Tangible Book Value per Share |
|
$92.75 |
$102.43 |
$93.64 |
$103.26 |
$114.58 |
$133.55 |
$122.36 |
$99.25 |
$154.96 |
$175.59 |
Total Capital |
|
7,130 |
7,297 |
6,886 |
8,468 |
10,652 |
13,217 |
12,517 |
11,525 |
18,176 |
19,589 |
Total Debt |
|
1,352 |
1,254 |
1,198 |
1,371 |
1,609 |
2,269 |
2,339 |
1,664 |
2,620 |
2,037 |
Total Long-Term Debt |
|
960 |
949 |
990 |
991 |
1,384 |
1,136 |
1,168 |
1,170 |
1,959 |
1,887 |
Net Debt |
|
845 |
833 |
-163 |
264 |
230 |
532 |
480 |
470 |
743 |
361 |
Capital Expenditures (CapEx) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
125 |
0.00 |
-414 |
0.00 |
24 |
307 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
1,352 |
1,254 |
1,198 |
1,371 |
1,609 |
2,269 |
2,339 |
1,664 |
2,620 |
2,037 |
Total Depreciation and Amortization (D&A) |
|
18 |
29 |
31 |
0.12 |
-59 |
17 |
-21 |
-27 |
-135 |
258 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$9.36 |
$11.50 |
($6.15) |
$4.91 |
$16.32 |
$15.34 |
($1.57) |
($25.50) |
$52.40 |
$35.31 |
Adjusted Weighted Average Basic Shares Outstanding |
|
43.14M |
40.94M |
40.02M |
42.21M |
44.15M |
50.71M |
43.98M |
43.72M |
52.69M |
49.25M |
Adjusted Diluted Earnings per Share |
|
$9.28 |
$11.43 |
($6.15) |
$4.91 |
$16.29 |
$15.31 |
($1.57) |
($25.50) |
$52.27 |
$35.21 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
43.14M |
40.94M |
40.02M |
42.21M |
44.15M |
50.71M |
43.98M |
43.72M |
52.69M |
49.25M |
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 |
|
43.14M |
40.94M |
40.02M |
42.21M |
44.15M |
50.71M |
43.98M |
43.72M |
52.69M |
49.25M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
347 |
630 |
-117 |
309 |
752 |
1,199 |
69 |
-660 |
2,440 |
3,452 |
Normalized NOPAT Margin |
|
23.50% |
37.38% |
-5.69% |
15.22% |
20.16% |
23.41% |
1.31% |
-13.16% |
26.92% |
29.75% |
Pre Tax Income Margin |
|
33.57% |
37.40% |
-15.94% |
12.95% |
14.84% |
19.44% |
-2.18% |
-24.32% |
34.32% |
25.80% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
13.69 |
14.96 |
-7.43 |
5.58 |
9.48 |
19.74 |
-2.40 |
-25.22 |
42.50 |
31.92 |
NOPAT to Interest Expense |
|
14.95 |
14.95 |
-5.20 |
5.71 |
9.19 |
19.68 |
-1.68 |
-17.65 |
49.47 |
31.57 |
EBIT Less CapEx to Interest Expense |
|
13.69 |
14.96 |
-7.43 |
5.58 |
9.48 |
19.74 |
-2.40 |
-25.22 |
42.50 |
31.92 |
NOPAT Less CapEx to Interest Expense |
|
14.95 |
14.95 |
-5.20 |
5.71 |
9.19 |
19.68 |
-1.68 |
-17.65 |
49.47 |
31.57 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
14.08% |
11.74% |
-20.79% |
30.84% |
10.12% |
10.01% |
-97.37% |
-8.63% |
3.05% |
3.93% |
Augmented Payout Ratio |
|
62.01% |
60.85% |
-73.97% |
30.84% |
10.12% |
16.32% |
-1,090.70% |
-23.00% |
3.05% |
26.45% |
Quarterly Metrics And Ratios for RenaissanceRe
This table displays calculated financial ratios and metrics derived from RenaissanceRe'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 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
-16.86% |
94.73% |
153.68% |
116.73% |
44.07% |
57.53% |
17.48% |
52.63% |
116.44% |
-30.09% |
33.66% |
EBITDA Growth |
|
-78.38% |
1,656.45% |
288.55% |
222.30% |
131.58% |
111.09% |
-22.29% |
110.83% |
418.62% |
-105.37% |
-110.32% |
EBIT Growth |
|
-79.04% |
1,906.89% |
300.19% |
228.07% |
135.90% |
105.27% |
-27.08% |
85.90% |
307.37% |
-105.80% |
-111.17% |
NOPAT Growth |
|
-79.04% |
2,661.29% |
376.47% |
280.10% |
150.17% |
186.81% |
-26.40% |
94.42% |
291.97% |
-102.93% |
-108.01% |
Net Income Growth |
|
-86.10% |
140.51% |
311.40% |
240.50% |
135.03% |
186.81% |
-26.40% |
94.42% |
291.97% |
-100.97% |
-104.08% |
EPS Growth |
|
-97.64% |
121.28% |
241.87% |
154.32% |
119.72% |
202.60% |
-46.24% |
130.07% |
495.26% |
-111.95% |
-52.88% |
Operating Cash Flow Growth |
|
28.84% |
69.35% |
159.00% |
89.19% |
28.46% |
-30.10% |
56.86% |
534.83% |
92.91% |
51.99% |
-76.92% |
Free Cash Flow Firm Growth |
|
-57.65% |
150.46% |
-17.59% |
-509.33% |
-1,230.49% |
-376.60% |
-2,565.38% |
10.16% |
34.89% |
68.44% |
83.57% |
Invested Capital Growth |
|
-10.34% |
-7.93% |
4.90% |
31.67% |
47.41% |
57.71% |
52.14% |
24.14% |
29.48% |
7.77% |
4.85% |
Revenue Q/Q Growth |
|
49.04% |
58.36% |
8.66% |
-15.49% |
-0.93% |
73.16% |
-19.55% |
9.79% |
40.49% |
-44.06% |
54.92% |
EBITDA Q/Q Growth |
|
-330.00% |
156.23% |
24.25% |
-59.29% |
11.03% |
275.85% |
-54.26% |
10.44% |
173.12% |
-103.89% |
12.10% |
EBIT Q/Q Growth |
|
-299.00% |
158.91% |
24.39% |
-56.20% |
11.85% |
236.84% |
-55.81% |
11.66% |
145.09% |
-104.79% |
14.85% |
NOPAT Q/Q Growth |
|
-299.00% |
183.51% |
21.20% |
-55.40% |
11.14% |
377.41% |
-68.90% |
17.81% |
124.08% |
-103.56% |
14.85% |
Net Income Q/Q Growth |
|
-345.73% |
158.32% |
21.20% |
-55.40% |
11.14% |
377.41% |
-68.90% |
17.81% |
124.08% |
-101.18% |
-31.42% |
EPS Q/Q Growth |
|
-155.91% |
153.97% |
24.13% |
-68.32% |
-7.09% |
728.16% |
-77.95% |
35.59% |
140.38% |
-116.62% |
186.97% |
Operating Cash Flow Q/Q Growth |
|
495.72% |
21.93% |
-40.57% |
-56.17% |
304.50% |
-33.65% |
33.36% |
77.38% |
22.92% |
-47.73% |
-79.74% |
Free Cash Flow Firm Q/Q Growth |
|
-49.16% |
304.42% |
-85.49% |
-1,471.71% |
-40.42% |
1.05% |
-29.35% |
50.01% |
-1.76% |
52.05% |
32.66% |
Invested Capital Q/Q Growth |
|
-8.17% |
6.55% |
10.66% |
21.61% |
2.81% |
13.99% |
6.75% |
-0.78% |
7.24% |
-5.12% |
3.85% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
-93.92% |
33.35% |
38.13% |
18.37% |
20.59% |
44.69% |
25.22% |
25.37% |
49.33% |
-3.43% |
-1.95% |
EBIT Margin |
|
-93.07% |
34.62% |
39.64% |
20.54% |
23.19% |
45.12% |
24.60% |
25.02% |
43.65% |
-3.74% |
-2.06% |
Profit (Net Income) Margin |
|
-93.29% |
34.36% |
38.32% |
20.22% |
22.69% |
62.55% |
24.01% |
25.76% |
41.09% |
-0.86% |
-0.73% |
Tax Burden Percent |
|
100.24% |
99.23% |
96.67% |
98.44% |
97.82% |
138.64% |
97.57% |
102.95% |
94.12% |
23.12% |
35.69% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
0.00% |
0.77% |
3.33% |
1.56% |
2.18% |
-38.64% |
2.43% |
-2.95% |
5.88% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
|
-22.95% |
14.32% |
19.51% |
10.88% |
13.39% |
38.17% |
14.10% |
15.44% |
28.20% |
-1.61% |
-0.90% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
-42.79% |
14.32% |
19.51% |
10.88% |
13.39% |
38.17% |
14.10% |
15.44% |
28.20% |
0.06% |
-0.17% |
Return on Net Nonoperating Assets (RNNOA) |
|
-8.03% |
2.86% |
3.30% |
1.93% |
2.67% |
6.43% |
2.50% |
2.70% |
4.71% |
0.01% |
-0.03% |
Return on Equity (ROE) |
|
-30.98% |
17.19% |
22.81% |
12.81% |
16.07% |
44.60% |
16.60% |
18.14% |
32.91% |
-1.60% |
-0.94% |
Cash Return on Invested Capital (CROIC) |
|
-1.07% |
1.16% |
-4.16% |
-22.07% |
-20.95% |
-20.41% |
-20.22% |
0.05% |
1.46% |
8.19% |
6.92% |
Operating Return on Assets (OROA) |
|
-10.80% |
4.92% |
6.87% |
3.94% |
4.77% |
9.56% |
5.21% |
5.61% |
11.71% |
-0.87% |
-0.49% |
Return on Assets (ROA) |
|
-10.82% |
4.88% |
6.65% |
3.88% |
4.67% |
13.25% |
5.08% |
5.77% |
11.02% |
-0.20% |
-0.17% |
Return on Common Equity (ROCE) |
|
-16.29% |
8.96% |
11.22% |
6.44% |
7.90% |
23.30% |
8.61% |
9.86% |
18.19% |
-0.90% |
-0.53% |
Return on Equity Simple (ROE_SIMPLE) |
|
-32.05% |
0.00% |
1.33% |
9.72% |
30.64% |
0.00% |
34.70% |
36.86% |
44.19% |
0.00% |
22.39% |
Net Operating Profit after Tax (NOPAT) |
|
-830 |
693 |
840 |
375 |
417 |
1,989 |
618 |
729 |
1,633 |
-58 |
-50 |
NOPAT Margin |
|
-65.15% |
34.36% |
38.32% |
20.22% |
22.69% |
62.55% |
24.01% |
25.76% |
41.09% |
-2.62% |
-1.44% |
Net Nonoperating Expense Percent (NNEP) |
|
19.84% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
-1.67% |
-0.73% |
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 |
|
193.07% |
65.38% |
60.36% |
79.46% |
76.81% |
54.88% |
75.40% |
74.98% |
56.35% |
103.74% |
102.06% |
Earnings before Interest and Taxes (EBIT) |
|
-1,186 |
699 |
869 |
381 |
426 |
1,434 |
634 |
708 |
1,735 |
-83 |
-71 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
-1,197 |
673 |
836 |
340 |
378 |
1,421 |
650 |
718 |
1,960 |
-76 |
-67 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.47 |
1.73 |
1.70 |
1.22 |
1.47 |
1.14 |
1.33 |
1.25 |
1.35 |
1.32 |
1.23 |
Price to Tangible Book Value (P/TBV) |
|
1.56 |
1.83 |
1.78 |
1.27 |
1.52 |
1.26 |
1.45 |
1.36 |
1.45 |
1.42 |
1.33 |
Price to Revenue (P/Rev) |
|
1.50 |
1.58 |
1.37 |
1.11 |
1.27 |
1.10 |
1.27 |
1.13 |
1.13 |
1.11 |
0.95 |
Price to Earnings (P/E) |
|
0.00 |
0.00 |
0.00 |
21.53 |
7.20 |
3.95 |
5.16 |
4.49 |
3.94 |
7.04 |
7.25 |
Dividend Yield |
|
1.06% |
0.81% |
0.75% |
0.81% |
0.77% |
0.78% |
0.65% |
0.69% |
0.57% |
0.63% |
0.65% |
Earnings Yield |
|
0.00% |
0.00% |
0.00% |
4.64% |
13.89% |
25.34% |
19.38% |
22.26% |
25.41% |
14.20% |
13.80% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.07 |
1.19 |
1.20 |
1.03 |
1.13 |
0.97 |
1.07 |
1.04 |
1.10 |
1.07 |
1.03 |
Enterprise Value to Revenue (EV/Rev) |
|
2.86 |
2.73 |
2.41 |
2.19 |
2.27 |
1.94 |
2.20 |
1.92 |
1.81 |
1.81 |
1.68 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
0.00 |
0.00 |
448.82 |
24.58 |
8.07 |
5.90 |
7.44 |
6.32 |
4.80 |
6.46 |
8.26 |
Enterprise Value to EBIT (EV/EBIT) |
|
0.00 |
0.00 |
180.41 |
21.05 |
7.57 |
5.65 |
7.22 |
6.25 |
5.05 |
7.02 |
9.15 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
0.00 |
0.00 |
195.66 |
22.30 |
7.73 |
4.85 |
6.11 |
5.33 |
4.59 |
7.10 |
9.04 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
8.85 |
8.54 |
8.15 |
8.18 |
8.43 |
9.19 |
9.61 |
6.29 |
5.85 |
5.05 |
5.75 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
98.38 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
2,337.74 |
85.19 |
13.58 |
15.22 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.19 |
0.17 |
0.14 |
0.19 |
0.20 |
0.17 |
0.21 |
0.17 |
0.14 |
0.12 |
0.19 |
Long-Term Debt to Equity |
|
0.13 |
0.12 |
0.10 |
0.14 |
0.14 |
0.13 |
0.12 |
0.12 |
0.11 |
0.11 |
0.16 |
Financial Leverage |
|
0.19 |
0.20 |
0.17 |
0.18 |
0.20 |
0.17 |
0.18 |
0.17 |
0.17 |
0.14 |
0.20 |
Leverage Ratio |
|
3.61 |
3.52 |
3.43 |
3.30 |
3.44 |
3.37 |
3.27 |
3.14 |
2.99 |
3.01 |
3.16 |
Compound Leverage Factor |
|
3.61 |
3.52 |
3.43 |
3.30 |
3.44 |
3.37 |
3.27 |
3.14 |
2.99 |
3.01 |
3.16 |
Debt to Total Capital |
|
16.27% |
14.44% |
12.00% |
15.67% |
16.90% |
14.42% |
17.07% |
14.22% |
12.31% |
10.40% |
16.25% |
Short-Term Debt to Total Capital |
|
5.45% |
4.28% |
3.05% |
3.53% |
5.09% |
3.64% |
7.36% |
4.04% |
2.94% |
0.77% |
2.71% |
Long-Term Debt to Total Capital |
|
10.82% |
10.16% |
8.95% |
12.14% |
11.81% |
10.78% |
9.71% |
10.18% |
9.38% |
9.63% |
13.54% |
Preferred Equity to Total Capital |
|
6.93% |
6.51% |
5.88% |
4.84% |
4.70% |
4.13% |
3.87% |
3.90% |
3.63% |
3.83% |
3.69% |
Noncontrolling Interests to Total Capital |
|
38.60% |
39.35% |
42.01% |
36.60% |
35.51% |
33.57% |
32.46% |
32.91% |
33.23% |
35.62% |
32.88% |
Common Equity to Total Capital |
|
38.20% |
39.70% |
40.11% |
42.90% |
42.89% |
47.89% |
46.60% |
48.97% |
50.82% |
50.15% |
47.18% |
Debt to EBITDA |
|
-0.90 |
-1.34 |
45.03 |
3.72 |
1.21 |
0.88 |
1.19 |
0.86 |
0.54 |
0.63 |
1.30 |
Net Debt to EBITDA |
|
-0.28 |
-0.38 |
13.73 |
2.28 |
0.67 |
0.25 |
0.61 |
0.35 |
0.20 |
0.11 |
0.66 |
Long-Term Debt to EBITDA |
|
-0.60 |
-0.94 |
33.57 |
2.88 |
0.85 |
0.66 |
0.68 |
0.62 |
0.41 |
0.58 |
1.09 |
Debt to NOPAT |
|
-1.29 |
-1.95 |
19.63 |
3.38 |
1.16 |
0.72 |
0.97 |
0.73 |
0.51 |
0.69 |
1.43 |
Net Debt to NOPAT |
|
-0.41 |
-0.55 |
5.99 |
2.07 |
0.64 |
0.21 |
0.50 |
0.30 |
0.20 |
0.12 |
0.72 |
Long-Term Debt to NOPAT |
|
-0.85 |
-1.37 |
14.64 |
2.62 |
0.81 |
0.54 |
0.55 |
0.52 |
0.39 |
0.64 |
1.19 |
Noncontrolling Interest Sharing Ratio |
|
47.41% |
47.85% |
50.80% |
49.76% |
50.82% |
47.75% |
48.16% |
45.66% |
44.72% |
44.03% |
43.73% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
417 |
1,686 |
245 |
-3,356 |
-4,712 |
-4,663 |
-6,031 |
-3,015 |
-3,068 |
-1,471 |
-991 |
Operating Cash Flow to CapEx |
|
0.00% |
0.00% |
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 |
|
34.45 |
136.12 |
20.16 |
0.00 |
0.00 |
-76.38 |
-261.05 |
0.00 |
0.00 |
-20.82 |
-36.58 |
Operating Cash Flow to Interest Expense |
|
49.69 |
59.21 |
35.91 |
0.00 |
0.00 |
8.40 |
29.58 |
0.00 |
0.00 |
11.02 |
5.82 |
Operating Cash Flow Less CapEx to Interest Expense |
|
49.69 |
59.21 |
35.91 |
0.00 |
0.00 |
8.40 |
29.58 |
0.00 |
0.00 |
11.02 |
5.82 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.12 |
0.14 |
0.17 |
0.19 |
0.21 |
0.21 |
0.21 |
0.22 |
0.27 |
0.23 |
0.24 |
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 |
|
10,817 |
11,525 |
12,753 |
15,509 |
15,945 |
18,176 |
19,403 |
19,253 |
20,646 |
19,589 |
20,344 |
Invested Capital Turnover |
|
0.35 |
0.42 |
0.51 |
0.54 |
0.59 |
0.61 |
0.59 |
0.60 |
0.69 |
0.61 |
0.63 |
Increase / (Decrease) in Invested Capital |
|
-1,247 |
-992 |
596 |
3,731 |
5,129 |
6,651 |
6,650 |
3,744 |
4,701 |
1,413 |
941 |
Enterprise Value (EV) |
|
11,535 |
13,693 |
15,253 |
16,048 |
17,972 |
17,559 |
20,759 |
20,016 |
22,788 |
21,012 |
20,933 |
Market Capitalization |
|
6,055 |
7,938 |
8,678 |
8,135 |
10,061 |
9,966 |
12,006 |
11,819 |
14,207 |
12,923 |
11,820 |
Book Value per Share |
|
$94.54 |
$104.69 |
$117.01 |
$151.44 |
$133.61 |
$170.11 |
$171.01 |
$178.31 |
$201.18 |
$189.14 |
$194.89 |
Tangible Book Value per Share |
|
$89.07 |
$99.25 |
$111.60 |
$146.08 |
$129.05 |
$154.96 |
$156.66 |
$164.36 |
$187.42 |
$175.59 |
$180.96 |
Total Capital |
|
10,817 |
11,525 |
12,753 |
15,509 |
15,945 |
18,176 |
19,403 |
19,253 |
20,646 |
19,589 |
20,344 |
Total Debt |
|
1,760 |
1,664 |
1,530 |
2,430 |
2,694 |
2,620 |
3,312 |
2,739 |
2,543 |
2,037 |
3,306 |
Total Long-Term Debt |
|
1,170 |
1,170 |
1,141 |
1,882 |
1,883 |
1,959 |
1,884 |
1,960 |
1,936 |
1,887 |
2,754 |
Net Debt |
|
556 |
470 |
467 |
1,486 |
1,499 |
743 |
1,706 |
1,111 |
970 |
361 |
1,673 |
Capital Expenditures (CapEx) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Expense (NNE) |
|
359 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
-39 |
-24 |
Net Nonoperating Obligations (NNO) |
|
1,760 |
1,664 |
1,530 |
2,430 |
2,694 |
2,620 |
3,312 |
2,739 |
2,543 |
2,037 |
3,306 |
Total Depreciation and Amortization (D&A) |
|
-11 |
-26 |
-33 |
-40 |
-48 |
-14 |
16 |
9.96 |
226 |
6.85 |
3.74 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
($19.27) |
$10.40 |
$12.95 |
$4.10 |
$3.81 |
$31.54 |
$6.96 |
$9.44 |
$22.68 |
($3.77) |
$3.29 |
Adjusted Weighted Average Basic Shares Outstanding |
|
43.70M |
43.72M |
43.93M |
51.18M |
51.17M |
52.69M |
52.88M |
52.16M |
51.94M |
49.25M |
48.65M |
Adjusted Diluted Earnings per Share |
|
($19.27) |
$10.40 |
$12.91 |
$4.09 |
$3.80 |
$31.47 |
$6.94 |
$9.41 |
$22.62 |
($3.76) |
$3.27 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
43.70M |
43.72M |
43.93M |
51.18M |
51.17M |
52.69M |
52.88M |
52.16M |
51.94M |
49.25M |
48.65M |
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 |
|
43.70M |
43.72M |
43.93M |
51.18M |
51.17M |
52.69M |
52.88M |
52.16M |
51.94M |
49.25M |
48.65M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
-785 |
764 |
915 |
454 |
497 |
1,098 |
722 |
571 |
1,751 |
52 |
21 |
Normalized NOPAT Margin |
|
-61.60% |
37.88% |
41.73% |
24.50% |
27.10% |
34.54% |
28.03% |
20.19% |
44.05% |
2.33% |
0.60% |
Pre Tax Income Margin |
|
-93.07% |
34.62% |
39.64% |
20.54% |
23.19% |
45.12% |
24.60% |
25.02% |
43.65% |
-3.74% |
-2.06% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
-98.02 |
56.42 |
71.63 |
0.00 |
0.00 |
23.50 |
27.43 |
0.00 |
0.00 |
-1.18 |
-2.61 |
NOPAT to Interest Expense |
|
-68.61 |
55.99 |
69.25 |
0.00 |
0.00 |
32.57 |
26.77 |
0.00 |
0.00 |
-0.82 |
-1.83 |
EBIT Less CapEx to Interest Expense |
|
-98.02 |
56.42 |
71.63 |
0.00 |
0.00 |
23.50 |
27.43 |
0.00 |
0.00 |
-1.18 |
-2.61 |
NOPAT Less CapEx to Interest Expense |
|
-68.61 |
55.99 |
69.25 |
0.00 |
0.00 |
32.57 |
26.77 |
0.00 |
0.00 |
-0.82 |
-1.83 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
-6.37% |
-8.63% |
128.86% |
14.39% |
4.59% |
3.05% |
3.36% |
3.08% |
2.34% |
3.93% |
4.97% |
Augmented Payout Ratio |
|
-37.67% |
-23.00% |
128.86% |
17.91% |
4.59% |
3.05% |
3.36% |
5.97% |
6.67% |
26.45% |
49.20% |
Key Financial Trends
RenaissanceRe (NYSE: RNR) displayed fluctuating financial results over the past four years, with notable volatility in net income and capital gains impacting overall profitability.
Positive trends observed:
- In Q1 2025, net income attributable to common shareholders was positive at $161.1 million, despite a consolidated net loss, indicating strong earnings available to common stockholders.
- Premiums earned steadily increased from approximately $1.77 billion in Q3 2022 to over $2.72 billion by Q1 2025, reflecting growth in underwriting activities.
- Significant realized and unrealized capital gains on investments were recorded in several quarters, such as $748.8 million in Q1 2025 and $990.7 million in Q4 2023, augmenting total revenue.
- Total assets have increased notably from ~$36 billion in Q3 2022 to ~$53.6 billion by Q1 2025, demonstrating expansion of the company's investment and insurance portfolios.
- Cash and equivalents remained strong, generally above $1.1 billion across periods, supporting liquidity needs.
- Consistent cash dividends paid per share, ranging from $0.37 to $0.40 over recent quarters, signaling stable returns to shareholders.
Neutral observations:
- Interest expense related to long-term debt rose from $12.1 million in Q3 2022 to $27.1 million in Q1 2025, which may reflect increased leverage but is manageable relative to earnings.
- The number of weighted average shares outstanding increased modestly from around 43.7 million in early 2023 to 48.6 million in Q1 2025, suggesting some dilution but consistent share count in recent quarters.
- Use of cash in investing activities remains high due to ongoing purchases of investment securities, offset by sale/maturity proceeds, indicating active portfolio management.
- Redeemable noncontrolling interest has grown to approximately $6.7 billion by Q1 2025, representing significant minority ownership but also a source of capital.
Negative trends and risks:
- RenaissanceRe posted consolidated net losses in Q1 2025 (-$25.3 million) and Q4 2024 (-$19.2 million), with volatile earnings linked to investment gains and underwriting results.
- Total non-interest expenses rose significantly to $3.51 billion in Q1 2025, driven by high amortization expense ($647 million) and special charges ($100 million), which weigh on profitability.
- Property and liability claims have increased over the period, reaching $2.74 billion in Q1 2025, pressuring underwriting margins.
- The company recorded sizable losses attributable to noncontrolling interests in Q1 and Q4 2024, which affect reported consolidated results.
- Repurchases of common stock and dividend payments continue to draw on cash resources, which may constrain financial flexibility amid volatile earnings.
- Negative net changes in cash and equivalents were observed in some recent quarters, such as a -$43.8 million decrease in Q1 2025, potentially indicative of liquidity usage.
Overall, RenaissanceRe's performance reflects the cyclical nature of the insurance and reinsurance business, with earnings sensitivity to claims and investment market fluctuations. Growth in premiums earned and total assets supports long-term prospects, though near-term profitability is challenged by elevated claims, expenses, and volatility in investment results. Investors should monitor underwriting trends, claim developments, and capital deployment decisions closely.
09/03/25 06:52 AM ETAI Generated. May Contain Errors.