Reinsurance Group of America, Incorporated

RGANYSEFinancial Services● Active

$202.78

$-2.18(-1.06%)

Market Cap$13.3B

P/E Ratio—

52W High$229.21

52W Low$165.52

Avg Volume338K

Open$203.14

Beta0.48

Free Cash Flow Financials Revenue

Reinsurance Group of America, Incorporated (RGA) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

RGA · free cash flow · updated Jun 8, 2026

Core FCF metrics

RGA · FCF · TTM · margin & CAGR

Free cash flow was $4.09B for FY2025 (fiscal year ending 2025-12-31), down 56.3% year-over-year The FCF margin was 17.9%. Five-year CAGR stands at +4.4%.

FY2025 Free Cash Flow$4.09B▼ -56.3% YoY

Trailing 12M (TTM)$5.54Btrailing 4 quarters sum

FCF Margin17.9%$4.09B ÷ revenue

3-Year CAGR+45.9%FY2022 → FY2025

5-Year CAGR+4.4%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

RGA · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$4.09B(0M)$4.09B▼ 56.3%17.9%

FY2024$9.37B(0M)$9.37B▲ +131.7%42.5%

FY2023$4.04B(0M)$4.04B▲ +206.8%22.0%

FY2022$1.34B(25M)$1.32B▼ 68.3%8.3%

FY2021$4.18B(19M)$4.16B▲ +26.4%25.9%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

RGA · P/FCF · FCF yield · FCF per share

Reinsurance Group of America, Incorporated (RGA) trades at a FCF yield of 41.54% and a price-to-free-cash-flow ratio of 2.4x. FCF per share stands at $83.75, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

41.54%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$83.75

TTM FCF ÷ Shares Outstanding

Price / FCF

x2.4

Share Price ÷ FCF per Share

EV / FCF (TTM)

x2.6

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

RGA · cash flow statement · operating / investing / financing

For FY2025, Reinsurance Group of America, Incorporated generated $4.09B in operating cash flow and spent 0M in capital expenditures, yielding $4.09B in free cash flow.

Operating Activities

+$4.09B

Cash from core business operations

2025-12-31

Investing Activities

−$12.09B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$8.80B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($4.09B) − |CapEx| (0M) = FCF ($4.09B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

RGA vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Reinsurance Group of America, IncorporatedYOU

RGA

$4.09B-56.3%18.0%

Berkshire Hathaway Inc.

BRK-B

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Reinsurance Group of America, Incorporated (RGA) reported free cash flow of $4.09B for FY2025 (fiscal year ending 2025-12-31), down 56.3% year-over-year. The FCF margin was 17.9%.

Based on available data, Reinsurance Group of America, Incorporated has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $9.37B in FY2024. The 5-year CAGR stands at +4.4%.

Reinsurance Group of America, Incorporated's FCF yield is 41.54% and price-to-FCF ratio is 2.4x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

RGA free cash flow · 8 questions

Reinsurance Group of America, Incorporated free cash flow was $4.09B for FY2025, down 56.3% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $5.54B.

RGA free cash flowRGA FCFRGA FCF 2025RGA free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Reinsurance Group of America, Incorporated · Reinsurance Group of America, Incorporated SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026