What is Reinsurance Grp's earnings per share (EPS)?

Reinsurance Grp (RGA) reported diluted earnings per share of $17.69 for fiscal year 2025. This represents a 64.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Reinsurance Grp Financials

RGA

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Reinsurance Grp (RGA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI RGA FY2025 2026-05-08

Balance-sheet expansion rather than simple revenue growth is the main mechanic, with cash conversion still uneven.

From FY2023 to FY2025, total assets climbed to $156.6B while operating cash flow finished at $4.1B, almost where it was two years earlier. Because net income recovered to $1.2B even as return on assets stayed below 1.0%, the business looks to be earning more on a much larger balance sheet without a matching step-up in cash productivity.

Long-term debt reached $5.7B, yet debt-to-equity eased to 0.4x. That combination implies equity growth more than kept pace with borrowing, which is why the much larger liability base should not be read as debt-funded expansion alone.

FY2025 investing outflows of $12.1B were far above operating cash flow of $4.1B. With financing inflow also large, the year's expansion was funded through the balance sheet rather than from internally generated cash, and shareholder payouts were a side issue instead of the main cash draw.

Financial Health Signals

Financial Health Score 22/100

Scored as: Insurers peer group

Scored against insurers for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Reinsurance Grp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Loss Ratio

Capital

Combined Ratio

Stability

Piotroski F-Score Partial

6/7

Reinsurance Grp passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

3.46x

For every $1 of reported earnings, Reinsurance Grp generates $3.46 in operating cash flow ($4.1B OCF vs $1.2B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$23.7B

YoY+7.2%

5Y CAGR+10.2%

10Y CAGR+8.6%

Reinsurance Grp generated $23.7B in revenue in fiscal year 2025. This represents an increase of 7.2% from the prior year.

EBITDA

N/A

Net Income

$1.2B

YoY+64.9%

5Y CAGR+23.3%

10Y CAGR+8.9%

Reinsurance Grp reported $1.2B in net income in fiscal year 2025. This represents an increase of 64.9% from the prior year.

EPS (Diluted)

$17.69

YoY+64.9%

5Y CAGR+22.9%

10Y CAGR+9.0%

Reinsurance Grp earned $17.69 per diluted share (EPS) in fiscal year 2025. This represents an increase of 64.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$4.2B

YoY+25.3%

5Y CAGR+7.2%

10Y CAGR+10.6%

Reinsurance Grp held $4.2B in cash against $5.7B in long-term debt as of fiscal year 2025.

Dividends Per Share

$3.64

YoY+4.6%

5Y CAGR+4.9%

10Y CAGR+10.0%

Reinsurance Grp paid $3.64 per share in dividends in fiscal year 2025. This represents an increase of 4.6% from the prior year.

Shares Outstanding

66M

YoY-0.7%

5Y CAGR-0.7%

10Y CAGR+0.1%

Reinsurance Grp had 66M shares outstanding in fiscal year 2025. This represents a decrease of 0.7% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

5.0%

YoY+1.8pp

5Y CAGR+2.1pp

10Y CAGR+0.2pp

Reinsurance Grp's net profit margin was 5.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.8 percentage points from the prior year.

Return on Equity

8.8%

YoY+2.2pp

5Y CAGR+5.9pp

10Y CAGR+0.6pp

Reinsurance Grp's ROE was 8.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.2 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$174.0M

YoY+544.4%

5Y CAGR+1.3%

10Y CAGR-7.6%

Reinsurance Grp spent $174.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 544.4% from the prior year.

Capital Expenditures

N/A

RGA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$23.7B+7.2%	$22.1B+19.1%	$18.6B+14.4%	$16.2B-2.6%	$16.7B+14.2%	$14.6B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$366.0M+20.4%	$304.0M+18.3%	$257.0M+34.6%	$191.0M+37.4%	$139.0M-18.2%	$170.0M
Income Tax	$351.0M+37.1%	$256.0M+2.0%	$251.0M+27.4%	$197.0M-8.4%	$215.0M+55.8%	$138.0M
Net Income	$1.2B+64.9%	$717.0M-20.5%	$902.0M+44.8%	$623.0M+1.0%	$617.0M+48.7%	$415.0M
EPS (Diluted)	$17.69+64.9%	$10.73-20.2%	$13.44+75.9%	$7.64-55.4%	$17.13+171.5%	$6.31

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$6.5B-2.1%	$6.6B+6.9%	$6.2B+10.8%	$5.6B+6.4%	$5.3B+0.4%	$5.2B-7.3%	$5.7B+15.8%	$4.9B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$99.0M	N/A	$98.0M+8.9%	$90.0M+12.5%	$80.0M	N/A	$78.0M+8.3%	$72.0M
Income Tax	$110.0M	N/A	$65.0M-59.4%	$160.0M+97.5%	$81.0M	N/A	$56.0M-13.8%	$65.0M
Net Income	$330.0M-29.0%	$465.0M+83.8%	$253.0M+40.6%	$180.0M-37.1%	$286.0M+90.7%	$150.0M-3.8%	$156.0M-23.2%	$203.0M
EPS (Diluted)	$4.98-28.6%	$6.97+82.9%	$3.81+41.1%	$2.70-36.8%	$4.27+92.3%	$2.22-4.7%	$2.33-23.1%	$3.03

RGA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$156.6B+31.9%	$118.7B+21.6%	$97.6B+15.0%	$84.9B-8.6%	$92.9B+9.8%	$84.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$4.2B+25.3%	$3.3B+12.0%	$3.0B+1.5%	$2.9B0.0%	$2.9B-0.7%	$2.9B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	$7.0M0.0%	$7.0M0.0%	$7.0M
Total Liabilities	$143.0B+32.7%	$107.8B+21.8%	$88.5B+13.8%	$77.7B-1.8%	$79.2B+12.6%	$70.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$5.7B+13.2%	$5.0B+13.9%	$4.4B+11.8%	$4.0B+8.0%	$3.7B+2.6%	$3.6B
Total Equity	$13.5B+24.5%	$10.8B+19.1%	$9.1B+28.2%	$7.1B-13.4%	$8.2B-43.0%	$14.4B
Retained Earnings	$10.2B+9.7%	$9.3B+5.1%	$8.8B+7.8%	$8.2B-4.6%	$8.6B+5.1%	$8.1B

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$164.1B+4.8%	$156.6B+3.0%	$152.0B+13.9%	$133.5B+4.1%	$128.2B+8.0%	$118.7B-1.3%	$120.3B+9.4%	$109.9B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$5.0B+19.8%	$4.2B-9.9%	$4.6B-14.6%	$5.4B+5.1%	$5.2B+54.9%	$3.3B-36.0%	$5.2B+13.0%	$4.6B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$150.7B+5.3%	$143.0B+3.0%	$138.9B+14.5%	$121.3B+4.0%	$116.7B+8.3%	$107.8B-1.2%	$109.0B+9.0%	$100.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$6.1B+6.9%	$5.7B-0.4%	$5.7B0.0%	$5.7B0.0%	$5.7B+13.7%	$5.0B-0.5%	$5.1B0.0%	$5.1B
Total Equity	$13.3B-1.2%	$13.5B+3.7%	$13.0B+7.7%	$12.1B+5.7%	$11.4B+5.4%	$10.8B-2.8%	$11.1B+14.3%	$9.7B
Retained Earnings	$10.4B+2.2%	$10.2B+4.0%	$9.8B+2.0%	$9.6B+1.3%	$9.4B+2.0%	$9.3B+1.0%	$9.2B+1.0%	$9.1B

RGA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$4.1B-56.3%	$9.4B+131.7%	$4.0B+201.1%	$1.3B-67.9%	$4.2B+25.9%	$3.3B
Capital Expenditures	N/A	N/A	N/A	$25.0M+31.6%	$19.0M-32.1%	$28.0M
Free Cash Flow	N/A	N/A	N/A	$1.3B-68.3%	$4.2B+26.4%	$3.3B
Investing Cash Flow	-$12.1B+3.6%	-$12.5B-208.5%	-$4.1B+28.5%	-$5.7B-22.9%	-$4.6B-72.7%	-$2.7B
Financing Cash Flow	$8.8B+140.3%	$3.7B+4593.6%	$78.0M-98.2%	$4.4B+22080.0%	$20.0M-98.4%	$1.3B
Dividends Paid	$240.0M+4.8%	$229.0M+4.6%	$219.0M+6.8%	$205.0M+5.7%	$194.0M+6.6%	$182.0M
Share Buybacks	$174.0M+544.4%	$27.0M-88.1%	$227.0M+180.2%	$81.0M-18.2%	$99.0M-39.3%	$163.0M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$2.9B-139.2%	$7.3B+840.4%	-$990.0M-20.7%	-$820.0M+42.6%	-$1.4B-108.3%	$17.1B+1706.4%	-$1.1B-10.3%	-$967.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$3.7B-13.1%	-$3.3B+45.1%	-$6.0B-405.7%	-$1.2B+30.6%	-$1.7B+59.3%	-$4.2B-244.8%	-$1.2B+65.1%	-$3.5B
Financing Cash Flow	$1.7B-16.1%	$2.0B-52.8%	$4.2B+678.9%	$540.0M-73.9%	$2.1B+159.3%	$797.0M+24.7%	$639.0M-47.6%	$1.2B
Dividends Paid	$61.0M0.0%	$61.0M0.0%	$61.0M+3.4%	$59.0M0.0%	$59.0M+1.7%	$58.0M-1.7%	$59.0M+5.4%	$56.0M
Share Buybacks	$94.0M+54.1%	$61.0M-18.7%	$75.0M	$0-100.0%	$38.0M+3700.0%	$1.0M-85.7%	$7.0M+133.3%	$3.0M

RGA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	5.0%+1.8pp	3.2%-1.6pp	4.9%+1.0pp	3.8%+0.1pp	3.7%+0.9pp	2.8%
Return on Equity	8.8%+2.2pp	6.6%-3.3pp	9.9%+1.1pp	8.8%+1.3pp	7.5%+4.7pp	2.9%
Return on Assets	0.8%+0.1pp	0.6%-0.3pp	0.9%+0.2pp	0.7%+0.1pp	0.7%+0.2pp	0.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.42-0.0	0.47-0.0	0.49-0.1	0.56+0.1	0.45+0.2	0.25
FCF Margin	N/A	N/A	N/A	8.1%-16.9pp	25.0%+2.4pp	22.6%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	5.1%-1.9pp	7.0%+2.9pp	4.1%+0.9pp	3.2%-2.2pp	5.4%+2.6pp	2.9%+0.1pp	2.8%-1.4pp	4.2%
Return on Equity	2.5%-1.0pp	3.5%+1.5pp	1.9%+0.5pp	1.5%-1.0pp	2.5%+1.1pp	1.4%-0.0pp	1.4%-0.7pp	2.1%
Return on Assets	0.2%-0.1pp	0.3%+0.1pp	0.2%+0.0pp	0.1%-0.1pp	0.2%+0.1pp	0.1%0.0pp	0.1%-0.1pp	0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.46+0.0	0.42-0.0	0.44-0.0	0.48-0.0	0.50+0.0	0.47+0.0	0.46-0.1	0.52
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Reinsurance Grp's annual revenue?

Reinsurance Grp (RGA) reported $23.7B in total revenue for fiscal year 2025. This represents a 7.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Reinsurance Grp's revenue growing?

Reinsurance Grp (RGA) revenue grew by 7.2% year-over-year, from $22.1B to $23.7B in fiscal year 2025.

Is Reinsurance Grp profitable?

Yes, Reinsurance Grp (RGA) reported a net income of $1.2B in fiscal year 2025, with a net profit margin of 5.0%.

How much debt does Reinsurance Grp have?

As of fiscal year 2025, Reinsurance Grp (RGA) had $4.2B in cash and equivalents against $5.7B in long-term debt.

What is Reinsurance Grp's net profit margin?

Reinsurance Grp (RGA) had a net profit margin of 5.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Reinsurance Grp pay dividends?

Yes, Reinsurance Grp (RGA) paid $3.64 per share in dividends during fiscal year 2025.

What is Reinsurance Grp's return on equity (ROE)?

Reinsurance Grp (RGA) has a return on equity of 8.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Reinsurance Grp's operating cash flow?

Reinsurance Grp (RGA) generated $4.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Reinsurance Grp's total assets?

Reinsurance Grp (RGA) had $156.6B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Reinsurance Grp buy back shares?

Yes, Reinsurance Grp (RGA) spent $174.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Reinsurance Grp have outstanding?

Reinsurance Grp (RGA) had 66M shares outstanding as of fiscal year 2025.

What is Reinsurance Grp's debt-to-equity ratio?

Reinsurance Grp (RGA) had a debt-to-equity ratio of 0.42 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Reinsurance Grp's return on assets (ROA)?

Reinsurance Grp (RGA) had a return on assets of 0.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Reinsurance Grp's Piotroski F-Score?

Reinsurance Grp (RGA) has a Piotroski F-Score of 6 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Reinsurance Grp's earnings high quality?

Reinsurance Grp (RGA) has an earnings quality ratio of 3.46x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Reinsurance Grp?

Reinsurance Grp (RGA) scores 22 out of 100 on our Financial Health Score, indicating weak standing within its insurers peer group. The score is a 0-100 composite of six dimensions (Loss Ratio, Premium Growth, Capital, Investment Yield, Combined Ratio, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.