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Side-by-side financial comparison of ConocoPhillips (COP) and REINSURANCE GROUP OF AMERICA INC (RGA). Click either name above to swap in a different company.
ConocoPhillips is the larger business by last-quarter revenue ($11.4B vs $6.6B, roughly 1.7× REINSURANCE GROUP OF AMERICA INC). ConocoPhillips runs the higher net margin — 12.7% vs 7.0%, a 5.7% gap on every dollar of revenue. On growth, REINSURANCE GROUP OF AMERICA INC posted the faster year-over-year revenue change (26.6% vs -10.7%). Over the past eight quarters, REINSURANCE GROUP OF AMERICA INC's revenue compounded faster (2.3% CAGR vs -3.8%).
ConocoPhillips Company is an American multinational corporation engaged in hydrocarbon exploration and production. It is based in the Energy Corridor district of Houston, Texas.
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.
COP vs RGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $11.4B | $6.6B |
| Net Profit | $1.4B | $463.0M |
| Gross Margin | 54.4% | — |
| Operating Margin | 19.7% | 7.7% |
| Net Margin | 12.7% | 7.0% |
| Revenue YoY | -10.7% | 26.6% |
| Net Profit YoY | -37.5% | 212.8% |
| EPS (diluted) | $1.18 | $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 | $11.4B | $6.6B | ||
| Q3 25 | $13.3B | $6.2B | ||
| Q2 25 | $12.6B | $5.6B | ||
| Q1 25 | $14.5B | $5.3B | ||
| Q4 24 | $12.7B | $5.2B | ||
| Q3 24 | $11.7B | $5.7B | ||
| Q2 24 | $12.7B | $4.9B | ||
| Q1 24 | $12.3B | $6.3B |
| Q4 25 | $1.4B | $463.0M | ||
| Q3 25 | $1.7B | $253.0M | ||
| Q2 25 | $2.0B | $180.0M | ||
| Q1 25 | $2.8B | $286.0M | ||
| Q4 24 | $2.3B | $148.0M | ||
| Q3 24 | $2.1B | $156.0M | ||
| Q2 24 | $2.3B | $203.0M | ||
| Q1 24 | $2.6B | $210.0M |
| Q4 25 | 54.4% | — | ||
| Q3 25 | 56.1% | — | ||
| Q2 25 | 59.7% | — | ||
| Q1 25 | 57.3% | — | ||
| Q4 24 | 60.2% | — | ||
| Q3 24 | 59.4% | — | ||
| Q2 24 | 61.6% | — | ||
| Q1 24 | 56.7% | — |
| Q4 25 | 19.7% | 7.7% | ||
| Q3 25 | 22.0% | 5.2% | ||
| Q2 25 | 23.9% | 6.1% | ||
| Q1 25 | 30.8% | 7.0% | ||
| Q4 24 | 23.3% | 4.3% | ||
| Q3 24 | 27.6% | 3.8% | ||
| Q2 24 | 28.9% | 5.5% | ||
| Q1 24 | 30.9% | 4.3% |
| Q4 25 | 12.7% | 7.0% | ||
| Q3 25 | 12.9% | 4.1% | ||
| Q2 25 | 15.6% | 3.2% | ||
| Q1 25 | 19.7% | 5.4% | ||
| Q4 24 | 18.1% | 2.8% | ||
| Q3 24 | 17.6% | 2.8% | ||
| Q2 24 | 18.4% | 4.2% | ||
| Q1 24 | 20.7% | 3.3% |
| Q4 25 | $1.18 | $6.91 | ||
| Q3 25 | $1.38 | $3.81 | ||
| Q2 25 | $1.56 | $2.70 | ||
| Q1 25 | $2.23 | $4.27 | ||
| Q4 24 | $1.92 | $2.21 | ||
| Q3 24 | $1.76 | $2.33 | ||
| Q2 24 | $1.98 | $3.03 | ||
| Q1 24 | $2.15 | $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 | $7.0B | $4.2B |
| Total DebtLower is stronger | $22.4B | $5.7B |
| Stockholders' EquityBook value | $64.5B | $13.5B |
| Total Assets | $121.9B | $156.6B |
| Debt / EquityLower = less leverage | 0.35× | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.0B | $4.2B | ||
| Q3 25 | $6.3B | $4.6B | ||
| Q2 25 | $5.3B | $5.4B | ||
| Q1 25 | $7.2B | $5.2B | ||
| Q4 24 | $6.1B | $3.3B | ||
| Q3 24 | $6.8B | $5.2B | ||
| Q2 24 | $6.0B | $4.6B | ||
| Q1 24 | $6.1B | $5.9B |
| Q4 25 | $22.4B | $5.7B | ||
| Q3 25 | $22.5B | $5.7B | ||
| Q2 25 | $23.1B | $5.7B | ||
| Q1 25 | $23.2B | $5.7B | ||
| Q4 24 | $23.3B | $5.0B | ||
| Q3 24 | $17.0B | $5.1B | ||
| Q2 24 | $17.0B | $5.1B | ||
| Q1 24 | $17.3B | $4.4B |
| Q4 25 | $64.5B | $13.5B | ||
| Q3 25 | $64.9B | $13.0B | ||
| Q2 25 | $65.6B | $12.1B | ||
| Q1 25 | $65.2B | $11.4B | ||
| Q4 24 | $64.8B | $10.8B | ||
| Q3 24 | $49.9B | $11.1B | ||
| Q2 24 | $49.7B | $9.7B | ||
| Q1 24 | $49.3B | $9.5B |
| Q4 25 | $121.9B | $156.6B | ||
| Q3 25 | $122.5B | $152.0B | ||
| Q2 25 | $122.6B | $133.5B | ||
| Q1 25 | $124.3B | $128.2B | ||
| Q4 24 | $122.8B | $118.7B | ||
| Q3 24 | $96.7B | $120.3B | ||
| Q2 24 | $96.0B | $109.9B | ||
| Q1 24 | $95.3B | $106.0B |
| Q4 25 | 0.35× | 0.42× | ||
| Q3 25 | 0.35× | 0.44× | ||
| Q2 25 | 0.35× | 0.48× | ||
| Q1 25 | 0.36× | 0.50× | ||
| Q4 24 | 0.36× | 0.47× | ||
| Q3 24 | 0.34× | 0.46× | ||
| Q2 24 | 0.34× | 0.52× | ||
| Q1 24 | 0.35× | 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 | $4.3B | $7.3B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 2.99× | 15.83× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.3B | $7.3B | ||
| Q3 25 | $5.9B | $-990.0M | ||
| Q2 25 | $3.5B | $-820.0M | ||
| Q1 25 | $6.1B | $-1.4B | ||
| Q4 24 | $4.5B | $17.1B | ||
| Q3 24 | $5.8B | $-1.1B | ||
| Q2 24 | $4.9B | $-967.0M | ||
| Q1 24 | $5.0B | $-5.7B |
| Q4 25 | 2.99× | 15.83× | ||
| Q3 25 | 3.41× | -3.91× | ||
| Q2 25 | 1.77× | -4.56× | ||
| Q1 25 | 2.15× | -5.00× | ||
| Q4 24 | 1.93× | 115.81× | ||
| Q3 24 | 2.80× | -6.84× | ||
| Q2 24 | 2.11× | -4.76× | ||
| Q1 24 | 1.95× | -27.31× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
COP
| Natural Gas Reserves | $2.1B | 18% |
| Physical Gas Contracts | $2.0B | 18% |
| Europe Middle East And North Africa Segment | $1.6B | 14% |
| Natural Gas Product Line | $1.5B | 13% |
| Canada Operating Segment | $1.3B | 12% |
| Alaska Segment | $1.3B | 11% |
| Natural Gas Liquids Reserves | $826.0M | 7% |
| Asia Pacific Operating Segment | $360.0M | 3% |
| Crude Oil Product Line | $236.0M | 2% |
| Related Party | $12.0M | 0% |
| Corporate Segment | $7.0M | 0% |
RGA
Segment breakdown not available.
