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Side-by-side financial comparison of Brookfield Infrastructure Partners L.P. (BIP) and REINSURANCE GROUP OF AMERICA INC (RGA). Click either name above to swap in a different company.
REINSURANCE GROUP OF AMERICA INC is the larger business by last-quarter revenue ($6.6B vs $5.4B, roughly 1.2× Brookfield Infrastructure Partners L.P.). REINSURANCE GROUP OF AMERICA INC runs the higher net margin — 7.0% vs 4.6%, a 2.3% gap on every dollar of revenue. On growth, REINSURANCE GROUP OF AMERICA INC posted the faster year-over-year revenue change (26.6% vs 5.7%).
Brookfield Infrastructure Partners L.P. is a publicly traded limited partnership with corporate headquarters in Toronto, Canada, that engages in the acquisition and management of infrastructure assets on a global basis.
Reinsurance Group of America, Incorporated is a holding company for a global life and health reinsurance entity based in Greater St. Louis within the western suburb of Chesterfield, Missouri, United States. With approximately $3.9 trillion of life reinsurance in force and assets of $118.7 billion as of December 31, 2024, RGA has grown to become the only international company to focus primarily on life and health-related reinsurance.
BIP vs RGA — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.4B | $6.6B |
| Net Profit | $252.0M | $463.0M |
| Gross Margin | 26.4% | — |
| Operating Margin | 24.4% | 7.7% |
| Net Margin | 4.6% | 7.0% |
| Revenue YoY | 5.7% | 26.6% |
| Net Profit YoY | 37.0% | 212.8% |
| EPS (diluted) | $-0.03 | $6.91 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $6.6B | ||
| Q3 25 | — | $6.2B | ||
| Q2 25 | $5.4B | $5.6B | ||
| Q1 25 | — | $5.3B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | — | $5.7B | ||
| Q2 24 | $5.1B | $4.9B | ||
| Q1 24 | — | $6.3B |
| Q4 25 | — | $463.0M | ||
| Q3 25 | — | $253.0M | ||
| Q2 25 | $252.0M | $180.0M | ||
| Q1 25 | — | $286.0M | ||
| Q4 24 | — | $148.0M | ||
| Q3 24 | — | $156.0M | ||
| Q2 24 | $184.0M | $203.0M | ||
| Q1 24 | — | $210.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 26.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 24.6% | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 7.7% | ||
| Q3 25 | — | 5.2% | ||
| Q2 25 | 24.4% | 6.1% | ||
| Q1 25 | — | 7.0% | ||
| Q4 24 | — | 4.3% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | 22.8% | 5.5% | ||
| Q1 24 | — | 4.3% |
| Q4 25 | — | 7.0% | ||
| Q3 25 | — | 4.1% | ||
| Q2 25 | 4.6% | 3.2% | ||
| Q1 25 | — | 5.4% | ||
| Q4 24 | — | 2.8% | ||
| Q3 24 | — | 2.8% | ||
| Q2 24 | 3.6% | 4.2% | ||
| Q1 24 | — | 3.3% |
| Q4 25 | — | $6.91 | ||
| Q3 25 | — | $3.81 | ||
| Q2 25 | $-0.03 | $2.70 | ||
| Q1 25 | — | $4.27 | ||
| Q4 24 | — | $2.21 | ||
| Q3 24 | — | $2.33 | ||
| Q2 24 | $-0.10 | $3.03 | ||
| Q1 24 | — | $3.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.3B | $4.2B |
| Total DebtLower is stronger | — | $5.7B |
| Stockholders' EquityBook value | $29.6B | $13.5B |
| Total Assets | $108.7B | $156.6B |
| Debt / EquityLower = less leverage | — | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $4.2B | ||
| Q3 25 | — | $4.6B | ||
| Q2 25 | $2.3B | $5.4B | ||
| Q1 25 | — | $5.2B | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | $1.3B | $4.6B | ||
| Q1 24 | — | $5.9B |
| Q4 25 | — | $5.7B | ||
| Q3 25 | — | $5.7B | ||
| Q2 25 | — | $5.7B | ||
| Q1 25 | — | $5.7B | ||
| Q4 24 | — | $5.0B | ||
| Q3 24 | — | $5.1B | ||
| Q2 24 | — | $5.1B | ||
| Q1 24 | — | $4.4B |
| Q4 25 | — | $13.5B | ||
| Q3 25 | — | $13.0B | ||
| Q2 25 | $29.6B | $12.1B | ||
| Q1 25 | — | $11.4B | ||
| Q4 24 | — | $10.8B | ||
| Q3 24 | — | $11.1B | ||
| Q2 24 | $30.1B | $9.7B | ||
| Q1 24 | — | $9.5B |
| Q4 25 | — | $156.6B | ||
| Q3 25 | — | $152.0B | ||
| Q2 25 | $108.7B | $133.5B | ||
| Q1 25 | — | $128.2B | ||
| Q4 24 | — | $118.7B | ||
| Q3 24 | — | $120.3B | ||
| Q2 24 | $100.9B | $109.9B | ||
| Q1 24 | — | $106.0B |
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.44× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.46× | ||
| Q2 24 | — | 0.52× | ||
| Q1 24 | — | 0.47× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.2B | $7.3B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 4.72× | 15.83× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $7.3B | ||
| Q3 25 | — | $-990.0M | ||
| Q2 25 | $1.2B | $-820.0M | ||
| Q1 25 | — | $-1.4B | ||
| Q4 24 | — | $17.1B | ||
| Q3 24 | — | $-1.1B | ||
| Q2 24 | $1.1B | $-967.0M | ||
| Q1 24 | — | $-5.7B |
| Q4 25 | — | 15.83× | ||
| Q3 25 | — | -3.91× | ||
| Q2 25 | 4.72× | -4.56× | ||
| Q1 25 | — | -5.00× | ||
| Q4 24 | — | 115.81× | ||
| Q3 24 | — | -6.84× | ||
| Q2 24 | 5.74× | -4.76× | ||
| Q1 24 | — | -27.31× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
