RGA Financials Reinsurance Group Of America Inc

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Aug 9, 2026, 10:17 UTC Overview →

Growth & profitability

Revenue has grown 10.2% per year over the past 5 years.
Net income has grown faster than revenue (23.3% vs 10.2% per year).
Free cash flow has declined 7.4% per year over the past 5 years.

Financial health

Total debt ($5.7B) exceeds cash ($4.2B); net debt is $1.5B.
Total debt has grown in line with revenue (9.8% vs 10.2% per year).

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 20.3% of earnings.
The dividend has grown 5.7% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$23.7B	$1.2B	0.0%	0.0%	8.8%	0.8%	—	$5.7B	$4.2B
2024	$22.1B	$717M	0.0%	0.0%	6.6%	0.6%	—	$5.0B	$3.3B
2023	$18.6B	$902M	0.0%	0.0%	9.9%	0.9%	—	$4.4B	$3.0B
2022	$16.2B	$623M	0.0%	0.0%	8.8%	0.7%	$1.3B	$4.0B	$2.9B
2021	$16.7B	$617M	0.0%	0.0%	7.5%	0.7%	$4.2B	$3.7B	$2.9B
2020	$14.6B	$415M	0.0%	0.0%	2.9%	0.5%	$3.3B	$3.6B	$2.9B
2019	$14.3B	$870M	0.0%	0.0%	7.5%	1.1%	$2.3B	$3.0B	$3.4B
2018	$12.9B	$716M	0.0%	0.0%	8.5%	1.1%	$1.6B	$2.8B	$1.4B
2017	$12.5B	$1.8B	0.0%	0.0%	19.0%	3.0%	$1.9B	$2.8B	$1.3B
2016	$11.5B	$701M	0.0%	0.0%	9.9%	1.3%	$1.4B	$3.1B	$1.2B
2015	$10.4B	$502M	0.0%	0.0%	8.2%	1.0%	$2.1B	$2.3B	$1.5B
2014	$10.9B	$684M	0.0%	0.0%	9.7%	1.5%	$2.2B	$2.3B	$1.6B
2013	$10.3B	$419M	0.0%	0.0%	7.1%	1.1%	$1.7B	$2.2B	$924M
2012	$9.8B	$632M	0.0%	0.0%	9.1%	1.6%	$2.0B	$1.8B	$1.3B
2011	$8.8B	$546M	0.0%	0.0%	9.4%	1.7%	—	$1.4B	$963M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$6.6B	$462M	0.0%	0.0%	3.4%	0.3%	—	$5.7B	$5.3B
Mar '26	$6.5B	$330M	0.0%	0.0%	2.5%	0.2%	—	$6.1B	$5.0B
Dec '25	$6.6B	$463M	0.0%	0.0%	3.4%	0.3%	—	$5.7B	$4.2B
Sep '25	$6.2B	$253M	0.0%	0.0%	1.9%	0.2%	—	$5.7B	$4.6B
Jun '25	$5.6B	$180M	0.0%	0.0%	1.5%	0.1%	—	$5.7B	$5.4B
Mar '25	$5.3B	$286M	0.0%	0.0%	2.5%	0.2%	—	$5.7B	$5.2B
Dec '24	$5.2B	$148M	0.0%	0.0%	1.4%	0.1%	—	$5.0B	$3.3B
Sep '24	$5.7B	$156M	0.0%	0.0%	1.4%	0.1%	—	$5.1B	$5.2B
Jun '24	$4.9B	$203M	0.0%	0.0%	2.1%	0.2%	—	$5.1B	$4.6B
Mar '24	$6.3B	$210M	0.0%	0.0%	2.2%	0.2%	—	$4.4B	$5.9B
Dec '23	$5.0B	$158M	0.0%	0.0%	1.7%	0.2%	—	$4.4B	$3.0B
Sep '23	$5.2B	$287M	0.0%	0.0%	3.6%	0.3%	-$1.0B	$4.5B	$2.8B
Jun '23	$4.2B	$205M	0.0%	0.0%	2.6%	0.2%	-$251M	$4.8B	$2.6B
Mar '23	$4.3B	$252M	0.0%	0.0%	3.3%	0.3%	-$1.6B	$4.5B	$3.3B
Dec '22	$4.4B	$291M	0.0%	0.0%	4.1%	0.3%	$2.4B	$4.0B	$2.9B
Sep '22	$4.0B	-$76M	0.0%	0.0%	-1.1%	-0.1%	-$842M	$4.2B	$3.5B
Jun '22	$3.9B	$105M	0.0%	0.0%	1.4%	0.1%	-$85M	$3.7B	$2.6B
Mar '22	$3.9B	$197M	0.0%	0.0%	2.5%	0.2%	-$169M	$3.7B	$2.7B
Dec '21	$4.4B	$156M	0.0%	0.0%	1.9%	0.2%	$357M	$3.7B	$2.9B
Sep '21	$4.0B	-$22M	0.0%	0.0%	-0.2%	-0.0%	$1.5B	$3.2B	$3.0B

Valuation over time

How the market has priced RGA against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 13.9× (Mar '23) to 14.8× (Nov '26).
The price-to-sales ratio has risen from 0.5× (Mar '23) to 0.7× (Nov '26).
The dividend yield has fallen from 2.4% (Mar '23) to 1.4% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is RGA growing its revenue and profit?

Over the past 5 years, Reinsurance Group Of America Inc's revenue has grown 10.2% per year, and net income grown 23.3% per year. These are computed facts, not advice.

How much debt does RGA have?

As of FY2025, Reinsurance Group Of America Inc reported $5.7B of total debt against $4.2B of cash.

What is RGA's profit margin?

In FY2025, gross margin was —, operating margin —, and net margin 5.0%.

What is RGA's P/E ratio?

Reinsurance Group Of America Inc's P/E (TTM) is 11.57 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the RGA stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 14.8× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.