Reinsurance Group of America, Incorporated (RGA) Stock Analysis
Financial Services · Insurance - Reinsurance · NYSE
Reinsurance Group of America, Incorporated (RGA) posted $23.70B in revenue for fiscal 2025 (up 7.2% year over year), at a 5.0% net margin, and has compounded revenue about 10.2%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Reinsurance Group of America, Incorporated
Reinsurance Group of America, Incorporated has grown revenue from $11.52B to $23.70B over the last 10 fiscal years, compounding about 10.2% a year. The most recent year was up 7.2%, so growth has cooled from its longer-run pace.
Net margin sits at 5%, up 1.8 points year over year. It carries about $5.71B of total debt.
At today's valuation the market is pricing in roughly -1.5% annual free-cash-flow growth — versus the -7.4% it actually delivered over the last five years, so the price already assumes a step-up from the recent record.
Synthesised from Reinsurance Group of America, Incorporated's SEC filings — descriptive, not advice. Ask the analyst your own question →
Reinsurance Group of America, Incorporated revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.52B | $12.52B | $12.88B | $14.30B | $14.60B | $16.67B | $16.26B | $18.57B | $22.11B | $23.70B |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $701.44M | $1.82B | $716.00M | $870.00M | $415.00M | $1.17B | $623.00M | $902.00M | $717.00M | $1.18B |
| Net margin | 6.1% | 14.6% | 5.6% | 6.1% | 2.8% | 7.0% | 3.8% | 4.9% | 3.2% | 5.0% |
Source: Reinsurance Group of America, Incorporated SEC filings (10-K). 18 years of history available in the interactive view.
Reinsurance Group of America, Incorporated: no obvious red flags in the filings
Our deterministic scan of the filed statements — receivables vs sales, earnings vs cash, dilution, leverage and margins — didn't flag anything. Ask about the risks →
What growth is priced into RGA stock?
At today's market cap of $13.55B, Reinsurance Group of America, Incorporated is priced for free-cash-flow growth of about -1.5% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $1.32B from the FY ending 2022-12-31). For comparison, free cash flow actually grew -7.4%/yr over the last five fiscal years and revenue 10.2%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 18 years of Reinsurance Group of America, Incorporated financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Reinsurance Group of America, Incorporated financial history by metric
Compare Reinsurance Group of America, Incorporated with peers
About Reinsurance Group of America, Incorporated
Reinsurance Group of America, Incorporated provides life and health, and asset-intensive reinsurance in the United States, Latin America, Canada, Europe, the Middle East, Africa, Asia, and Australia. It offers individual and group life and health, disability, long-term care, and critical illness reinsurance; and financial solutions, such as asset-intensive reinsurance, longevity reinsurance, stable value products, pension risk transfer transactions, and capital solutions. The company also provides reinsurance for mortality, morbidity, lapse, and investment-related risks; coinsurance of payout annuities; underwritten annuities; funding agreement backed note program and other capital motivated solutions; and superannuation. Reinsurance Group of America, Incorporated was founded in 1973 and is headquartered in Chesterfield, Missouri.
Reinsurance Group of America, Incorporated — frequently asked questions
What is Reinsurance Group of America, Incorporated's revenue?
Reinsurance Group of America, Incorporated (RGA) reported revenue of $23.70B for fiscal year 2025, up 7.2% from the prior year, according to its SEC filings.
Is Reinsurance Group of America, Incorporated profitable?
Yes. RGA earned net income of $1.18B in fiscal 2025, a net margin of 5.0%.
What is RGA's P/E ratio?
Reinsurance Group of America, Incorporated trades at a price-to-earnings ratio of about 11.2 based on the latest data in our nightly-refreshed cache.
How fast is Reinsurance Group of America, Incorporated growing?
RGA's revenue grew at roughly 10.2% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Reinsurance Group of America, Incorporated have?
As of fiscal year 2025, RGA carried roughly $5.71B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Reinsurance Group of America, Incorporated's market cap?
Reinsurance Group of America, Incorporated (RGA) has a market capitalization of about $13.55B, based on the latest data in our nightly-refreshed cache.
When does Reinsurance Group of America, Incorporated's fiscal year end?
RGA's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into RGA stock?
At today's market cap of $13.55B, Reinsurance Group of America, Incorporated is priced for free-cash-flow growth of about -1.5% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $1.32B from the FY ending 2022-12-31). For comparison, free cash flow actually grew -7.4%/yr over the last five fiscal years and revenue 10.2%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Reinsurance Group of America, Incorporated's official SEC filings (10-K and 10-Q), covering 18 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.