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Side-by-side financial comparison of Devon Energy (DVN) 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 $3.9B, roughly 1.7× Devon Energy). Devon Energy runs the higher net margin — 14.3% vs 7.0%, a 7.3% gap on every dollar of revenue. On growth, REINSURANCE GROUP OF AMERICA INC posted the faster year-over-year revenue change (26.6% vs -12.3%). Over the past eight quarters, Devon Energy's revenue compounded faster (2.6% CAGR vs 2.3%).
Devon Energy Corporation is an American company engaged in hydrocarbon exploration. It is organized in Delaware with operational headquarters in the 50-story Devon Energy Center in Oklahoma City, Oklahoma. Its operations are in the Delaware Basin, Eagle Ford Group, and the Rocky Mountains.
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.
DVN vs RGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.9B | $6.6B |
| Net Profit | $562.0M | $463.0M |
| Gross Margin | — | — |
| Operating Margin | 19.0% | 7.7% |
| Net Margin | 14.3% | 7.0% |
| Revenue YoY | -12.3% | 26.6% |
| Net Profit YoY | -12.1% | 212.8% |
| EPS (diluted) | $0.90 | $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 | $3.9B | $6.6B | ||
| Q3 25 | $4.3B | $6.2B | ||
| Q2 25 | $4.0B | $5.6B | ||
| Q1 25 | $4.5B | $5.3B | ||
| Q4 24 | $4.5B | $5.2B | ||
| Q3 24 | $3.8B | $5.7B | ||
| Q2 24 | $3.9B | $4.9B | ||
| Q1 24 | $3.7B | $6.3B |
| Q4 25 | $562.0M | $463.0M | ||
| Q3 25 | $687.0M | $253.0M | ||
| Q2 25 | $899.0M | $180.0M | ||
| Q1 25 | $494.0M | $286.0M | ||
| Q4 24 | $639.0M | $148.0M | ||
| Q3 24 | $812.0M | $156.0M | ||
| Q2 24 | $844.0M | $203.0M | ||
| Q1 24 | $596.0M | $210.0M |
| Q4 25 | 19.0% | 7.7% | ||
| Q3 25 | 21.5% | 5.2% | ||
| Q2 25 | 28.7% | 6.1% | ||
| Q1 25 | 14.2% | 7.0% | ||
| Q4 24 | 18.7% | 4.3% | ||
| Q3 24 | 28.0% | 3.8% | ||
| Q2 24 | 26.7% | 5.5% | ||
| Q1 24 | 20.5% | 4.3% |
| Q4 25 | 14.3% | 7.0% | ||
| Q3 25 | 16.2% | 4.1% | ||
| Q2 25 | 22.2% | 3.2% | ||
| Q1 25 | 10.9% | 5.4% | ||
| Q4 24 | 14.2% | 2.8% | ||
| Q3 24 | 21.4% | 2.8% | ||
| Q2 24 | 21.7% | 4.2% | ||
| Q1 24 | 15.9% | 3.3% |
| Q4 25 | $0.90 | $6.91 | ||
| Q3 25 | $1.09 | $3.81 | ||
| Q2 25 | $1.41 | $2.70 | ||
| Q1 25 | $0.77 | $4.27 | ||
| Q4 24 | $0.98 | $2.21 | ||
| Q3 24 | $1.30 | $2.33 | ||
| Q2 24 | $1.34 | $3.03 | ||
| Q1 24 | $0.94 | $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 | $1.4B | $4.2B |
| Total DebtLower is stronger | $8.4B | $5.7B |
| Stockholders' EquityBook value | $15.5B | $13.5B |
| Total Assets | $31.6B | $156.6B |
| Debt / EquityLower = less leverage | 0.54× | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.4B | $4.2B | ||
| Q3 25 | $1.2B | $4.6B | ||
| Q2 25 | $1.7B | $5.4B | ||
| Q1 25 | $1.2B | $5.2B | ||
| Q4 24 | $811.0M | $3.3B | ||
| Q3 24 | $645.0M | $5.2B | ||
| Q2 24 | $1.1B | $4.6B | ||
| Q1 24 | $1.1B | $5.9B |
| Q4 25 | $8.4B | $5.7B | ||
| Q3 25 | $8.4B | $5.7B | ||
| Q2 25 | $8.9B | $5.7B | ||
| Q1 25 | $8.9B | $5.7B | ||
| Q4 24 | $8.9B | $5.0B | ||
| Q3 24 | $8.9B | $5.1B | ||
| Q2 24 | $6.1B | $5.1B | ||
| Q1 24 | $6.1B | $4.4B |
| Q4 25 | $15.5B | $13.5B | ||
| Q3 25 | $15.3B | $13.0B | ||
| Q2 25 | $15.1B | $12.1B | ||
| Q1 25 | $14.5B | $11.4B | ||
| Q4 24 | $14.5B | $10.8B | ||
| Q3 24 | $14.3B | $11.1B | ||
| Q2 24 | $12.6B | $9.7B | ||
| Q1 24 | $12.2B | $9.5B |
| Q4 25 | $31.6B | $156.6B | ||
| Q3 25 | $31.2B | $152.0B | ||
| Q2 25 | $31.4B | $133.5B | ||
| Q1 25 | $30.9B | $128.2B | ||
| Q4 24 | $30.5B | $118.7B | ||
| Q3 24 | $30.3B | $120.3B | ||
| Q2 24 | $25.2B | $109.9B | ||
| Q1 24 | $25.0B | $106.0B |
| Q4 25 | 0.54× | 0.42× | ||
| Q3 25 | 0.55× | 0.44× | ||
| Q2 25 | 0.59× | 0.48× | ||
| Q1 25 | 0.61× | 0.50× | ||
| Q4 24 | 0.61× | 0.47× | ||
| Q3 24 | 0.62× | 0.46× | ||
| Q2 24 | 0.49× | 0.52× | ||
| Q1 24 | 0.51× | 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 | $1.5B | $7.3B |
| Free Cash FlowOCF − Capex | $702.0M | — |
| FCF MarginFCF / Revenue | 17.8% | — |
| Capex IntensityCapex / Revenue | 21.1% | — |
| Cash ConversionOCF / Net Profit | 2.73× | 15.83× |
| TTM Free Cash FlowTrailing 4 quarters | $3.1B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $7.3B | ||
| Q3 25 | $1.7B | $-990.0M | ||
| Q2 25 | $1.5B | $-820.0M | ||
| Q1 25 | $1.9B | $-1.4B | ||
| Q4 24 | $1.7B | $17.1B | ||
| Q3 24 | $1.7B | $-1.1B | ||
| Q2 24 | $1.5B | $-967.0M | ||
| Q1 24 | $1.7B | $-5.7B |
| Q4 25 | $702.0M | — | ||
| Q3 25 | $820.0M | — | ||
| Q2 25 | $589.0M | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $738.0M | — | ||
| Q3 24 | $786.0M | — | ||
| Q2 24 | $587.0M | — | ||
| Q1 24 | $844.0M | — |
| Q4 25 | 17.8% | — | ||
| Q3 25 | 19.3% | — | ||
| Q2 25 | 14.6% | — | ||
| Q1 25 | 22.2% | — | ||
| Q4 24 | 16.4% | — | ||
| Q3 24 | 20.7% | — | ||
| Q2 24 | 15.1% | — | ||
| Q1 24 | 22.6% | — |
| Q4 25 | 21.1% | — | ||
| Q3 25 | 20.5% | — | ||
| Q2 25 | 23.6% | — | ||
| Q1 25 | 20.5% | — | ||
| Q4 24 | 20.6% | — | ||
| Q3 24 | 23.1% | — | ||
| Q2 24 | 24.3% | — | ||
| Q1 24 | 23.9% | — |
| Q4 25 | 2.73× | 15.83× | ||
| Q3 25 | 2.46× | -3.91× | ||
| Q2 25 | 1.72× | -4.56× | ||
| Q1 25 | 3.93× | -5.00× | ||
| Q4 24 | 2.60× | 115.81× | ||
| Q3 24 | 2.05× | -6.84× | ||
| Q2 24 | 1.82× | -4.76× | ||
| Q1 24 | 2.92× | -27.31× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DVN
| Oil Gas And NGL Sales | $2.6B | 65% |
| Marketing And Midstream Revenues | $1.4B | 35% |
RGA
Segment breakdown not available.
