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Side-by-side financial comparison of CoreWeave, Inc. (CRWV) and RENAISSANCERE HOLDINGS LTD (RNR). Click either name above to swap in a different company.
RENAISSANCERE HOLDINGS LTD is the larger business by last-quarter revenue ($2.2B vs $1.6B, roughly 1.4× CoreWeave, Inc.). RENAISSANCERE HOLDINGS LTD runs the higher net margin — 23.5% vs -28.7%, a 52.2% gap on every dollar of revenue.
CoreWeave, Inc. is an American artificial intelligence (AI) cloud-computing company based in Livingston, New Jersey. It specializes in providing cloud-based graphics processing unit (GPU) infrastructure to AI developers and enterprises, and also develops its own chip management software.
RenaissanceRe Holdings Ltd is a Bermudian provider of reinsurance, insurance and other related business services. The company operates in reinsurance, insurance and ventures.
CRWV vs RNR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $2.2B |
| Net Profit | $-451.7M | $515.8M |
| Gross Margin | 67.6% | — |
| Operating Margin | -5.7% | — |
| Net Margin | -28.7% | 23.5% |
| Revenue YoY | — | -36.8% |
| Net Profit YoY | — | 72.6% |
| EPS (diluted) | $-0.50 | $6.57 |
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.
| Q1 26 | — | $2.2B | ||
| Q4 25 | $1.6B | $3.0B | ||
| Q3 25 | $1.4B | $3.2B | ||
| Q2 25 | $1.2B | $3.2B | ||
| Q1 25 | $981.6M | $3.5B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | $583.9M | $4.0B | ||
| Q2 24 | $395.4M | $2.8B |
| Q1 26 | — | $515.8M | ||
| Q4 25 | $-451.7M | $760.5M | ||
| Q3 25 | $-110.1M | $916.5M | ||
| Q2 25 | $-290.5M | $835.4M | ||
| Q1 25 | $-314.6M | $170.0M | ||
| Q4 24 | — | $-189.7M | ||
| Q3 24 | $-359.8M | $1.2B | ||
| Q2 24 | $-323.0M | $503.9M |
| Q1 26 | — | — | ||
| Q4 25 | 67.6% | — | ||
| Q3 25 | 73.0% | — | ||
| Q2 25 | 74.2% | — | ||
| Q1 25 | 73.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 75.5% | — | ||
| Q2 24 | 72.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | -5.7% | 42.5% | ||
| Q3 25 | 3.8% | 46.3% | ||
| Q2 25 | 1.6% | 41.8% | ||
| Q1 25 | -2.8% | -2.0% | ||
| Q4 24 | — | -3.6% | ||
| Q3 24 | 20.1% | 43.7% | ||
| Q2 24 | 19.7% | 25.0% |
| Q1 26 | — | 23.5% | ||
| Q4 25 | -28.7% | 25.6% | ||
| Q3 25 | -8.1% | 28.7% | ||
| Q2 25 | -24.0% | 26.1% | ||
| Q1 25 | -32.1% | 4.9% | ||
| Q4 24 | — | -8.3% | ||
| Q3 24 | -61.6% | 29.8% | ||
| Q2 24 | -81.7% | 17.8% |
| Q1 26 | — | $6.57 | ||
| Q4 25 | $-0.50 | $16.16 | ||
| Q3 25 | $-0.22 | $19.40 | ||
| Q2 25 | $-0.60 | $17.20 | ||
| Q1 25 | $-1.49 | $3.27 | ||
| Q4 24 | — | $-3.76 | ||
| Q3 24 | $-1.82 | $22.62 | ||
| Q2 24 | $-1.62 | $9.41 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.2B | $1.6B |
| Total DebtLower is stronger | $21.4B | — |
| Stockholders' EquityBook value | $3.3B | $4.3B |
| Total Assets | $49.3B | $53.7B |
| Debt / EquityLower = less leverage | 6.41× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.6B | ||
| Q4 25 | $3.2B | $1.7B | ||
| Q3 25 | $1.9B | $1.7B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $1.3B | $1.6B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $1.4B | $1.6B | ||
| Q2 24 | $1.0B | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | $21.4B | $2.3B | ||
| Q3 25 | $14.0B | $2.2B | ||
| Q2 25 | $11.1B | $2.3B | ||
| Q1 25 | $8.7B | $2.8B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | — | $2.0B |
| Q1 26 | — | $4.3B | ||
| Q4 25 | $3.3B | $11.6B | ||
| Q3 25 | $3.9B | $11.5B | ||
| Q2 25 | $2.7B | $10.8B | ||
| Q1 25 | $1.9B | $10.3B | ||
| Q4 24 | — | $10.6B | ||
| Q3 24 | $-344.0M | $11.2B | ||
| Q2 24 | $-1.0B | $10.2B |
| Q1 26 | — | $53.7B | ||
| Q4 25 | $49.3B | $53.8B | ||
| Q3 25 | $32.9B | $54.5B | ||
| Q2 25 | $26.2B | $54.7B | ||
| Q1 25 | $21.9B | $53.6B | ||
| Q4 24 | — | $50.7B | ||
| Q3 24 | — | $52.8B | ||
| Q2 24 | — | $51.6B |
| Q1 26 | — | — | ||
| Q4 25 | 6.41× | 0.20× | ||
| Q3 25 | 3.62× | 0.19× | ||
| Q2 25 | 4.16× | 0.21× | ||
| Q1 25 | 4.57× | 0.27× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.17× | ||
| Q2 24 | — | 0.19× |
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 | $1.6B | — |
| Free Cash FlowOCF − Capex | $-2.5B | — |
| FCF MarginFCF / Revenue | -159.1% | — |
| Capex IntensityCapex / Revenue | 258.3% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-7.3B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $483.0M | ||
| Q3 25 | $1.7B | $1.6B | ||
| Q2 25 | $-251.3M | $1.5B | ||
| Q1 25 | $61.2M | $157.8M | ||
| Q4 24 | — | $778.9M | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.2B |
| Q1 26 | — | — | ||
| Q4 25 | $-2.5B | — | ||
| Q3 25 | $-699.8M | — | ||
| Q2 25 | $-2.7B | — | ||
| Q1 25 | $-1.3B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | -159.1% | — | ||
| Q3 25 | -51.3% | — | ||
| Q2 25 | -223.0% | — | ||
| Q1 25 | -137.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | 258.3% | — | ||
| Q3 25 | 175.1% | — | ||
| Q2 25 | 202.3% | — | ||
| Q1 25 | 143.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.64× | ||
| Q3 25 | — | 1.73× | ||
| Q2 25 | — | 1.76× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.26× | ||
| Q2 24 | — | 2.41× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRWV
| US | $1.4B | 92% |
| Non Us | $129.3M | 8% |
RNR
Segment breakdown not available.
