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Side-by-side financial comparison of Ecolab (ECL) 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 $4.1B, roughly 1.6× Ecolab). Ecolab runs the higher net margin — 10.6% vs 7.0%, a 3.7% gap on every dollar of revenue. On growth, REINSURANCE GROUP OF AMERICA INC posted the faster year-over-year revenue change (26.6% vs 10.0%). Over the past eight quarters, REINSURANCE GROUP OF AMERICA INC's revenue compounded faster (2.3% CAGR vs 1.0%).
Ecolab Inc., headquartered in Saint Paul, Minnesota, provides products related to water treatment, sanitation, and hygiene, primarily to commercial and industrial customers.
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.
ECL vs RGA — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.1B | $6.6B |
| Net Profit | $432.6M | $463.0M |
| Gross Margin | — | — |
| Operating Margin | 15.3% | 7.7% |
| Net Margin | 10.6% | 7.0% |
| Revenue YoY | 10.0% | 26.6% |
| Net Profit YoY | 1.3% | 212.8% |
| EPS (diluted) | $1.52 | $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.
| Q2 26 | $4.1B | — | ||
| Q4 25 | $4.2B | $6.6B | ||
| Q3 25 | $4.2B | $6.2B | ||
| Q2 25 | $4.0B | $5.6B | ||
| Q1 25 | $3.7B | $5.3B | ||
| Q4 24 | $4.0B | $5.2B | ||
| Q3 24 | $4.0B | $5.7B | ||
| Q2 24 | $4.0B | $4.9B |
| Q2 26 | $432.6M | — | ||
| Q4 25 | $563.9M | $463.0M | ||
| Q3 25 | $585.0M | $253.0M | ||
| Q2 25 | $524.2M | $180.0M | ||
| Q1 25 | $402.5M | $286.0M | ||
| Q4 24 | $472.9M | $148.0M | ||
| Q3 24 | $736.5M | $156.0M | ||
| Q2 24 | $490.9M | $203.0M |
| Q2 26 | — | — | ||
| Q4 25 | 44.0% | — | ||
| Q3 25 | 44.8% | — | ||
| Q2 25 | 44.8% | — | ||
| Q1 25 | 44.2% | — | ||
| Q4 24 | 43.3% | — | ||
| Q3 24 | 43.4% | — | ||
| Q2 24 | 43.8% | — |
| Q2 26 | 15.3% | — | ||
| Q4 25 | 17.0% | 7.7% | ||
| Q3 25 | 18.3% | 5.2% | ||
| Q2 25 | 17.6% | 6.1% | ||
| Q1 25 | 15.0% | 7.0% | ||
| Q4 24 | 14.6% | 4.3% | ||
| Q3 24 | 26.1% | 3.8% | ||
| Q2 24 | 16.5% | 5.5% |
| Q2 26 | 10.6% | — | ||
| Q4 25 | 13.4% | 7.0% | ||
| Q3 25 | 14.0% | 4.1% | ||
| Q2 25 | 13.0% | 3.2% | ||
| Q1 25 | 10.9% | 5.4% | ||
| Q4 24 | 11.8% | 2.8% | ||
| Q3 24 | 18.4% | 2.8% | ||
| Q2 24 | 12.3% | 4.2% |
| Q2 26 | $1.52 | — | ||
| Q4 25 | $1.98 | $6.91 | ||
| Q3 25 | $2.05 | $3.81 | ||
| Q2 25 | $1.84 | $2.70 | ||
| Q1 25 | $1.41 | $4.27 | ||
| Q4 24 | $1.65 | $2.21 | ||
| Q3 24 | $2.58 | $2.33 | ||
| Q2 24 | $1.71 | $3.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $519.8K | $4.2B |
| Total DebtLower is stronger | $8.5M | $5.7B |
| Stockholders' EquityBook value | $10.0M | $13.5B |
| Total Assets | $25.0M | $156.6B |
| Debt / EquityLower = less leverage | 0.85× | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $519.8K | — | ||
| Q4 25 | $646.2M | $4.2B | ||
| Q3 25 | $2.0B | $4.6B | ||
| Q2 25 | $1.9B | $5.4B | ||
| Q1 25 | $1.2B | $5.2B | ||
| Q4 24 | $1.3B | $3.3B | ||
| Q3 24 | $1.3B | $5.2B | ||
| Q2 24 | $384.0M | $4.6B |
| Q2 26 | $8.5M | — | ||
| Q4 25 | $7.4B | $5.7B | ||
| Q3 25 | $8.1B | $5.7B | ||
| Q2 25 | $7.5B | $5.7B | ||
| Q1 25 | $7.0B | $5.7B | ||
| Q4 24 | $6.9B | $5.0B | ||
| Q3 24 | $7.0B | $5.1B | ||
| Q2 24 | $7.5B | $5.1B |
| Q2 26 | $10.0M | — | ||
| Q4 25 | $9.8B | $13.5B | ||
| Q3 25 | $9.7B | $13.0B | ||
| Q2 25 | $9.3B | $12.1B | ||
| Q1 25 | $8.9B | $11.4B | ||
| Q4 24 | $8.8B | $10.8B | ||
| Q3 24 | $8.5B | $11.1B | ||
| Q2 24 | $8.3B | $9.7B |
| Q2 26 | $25.0M | — | ||
| Q4 25 | $24.7B | $156.6B | ||
| Q3 25 | $23.9B | $152.0B | ||
| Q2 25 | $23.7B | $133.5B | ||
| Q1 25 | $22.4B | $128.2B | ||
| Q4 24 | $22.4B | $118.7B | ||
| Q3 24 | $22.1B | $120.3B | ||
| Q2 24 | $21.5B | $109.9B |
| Q2 26 | 0.85× | — | ||
| Q4 25 | 0.75× | 0.42× | ||
| Q3 25 | 0.83× | 0.44× | ||
| Q2 25 | 0.81× | 0.48× | ||
| Q1 25 | 0.79× | 0.50× | ||
| Q4 24 | 0.79× | 0.47× | ||
| Q3 24 | 0.82× | 0.46× | ||
| Q2 24 | 0.91× | 0.52× |
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 | — | $7.3B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 15.83× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q4 25 | $1.1B | $7.3B | ||
| Q3 25 | $791.3M | $-990.0M | ||
| Q2 25 | $701.8M | $-820.0M | ||
| Q1 25 | $369.4M | $-1.4B | ||
| Q4 24 | $766.7M | $17.1B | ||
| Q3 24 | $786.7M | $-1.1B | ||
| Q2 24 | $611.1M | $-967.0M |
| Q2 26 | — | — | ||
| Q4 25 | $758.0M | — | ||
| Q3 25 | $529.7M | — | ||
| Q2 25 | $485.1M | — | ||
| Q1 25 | $131.5M | — | ||
| Q4 24 | $407.0M | — | ||
| Q3 24 | $550.3M | — | ||
| Q2 24 | $414.2M | — |
| Q2 26 | — | — | ||
| Q4 25 | 18.1% | — | ||
| Q3 25 | 12.7% | — | ||
| Q2 25 | 12.1% | — | ||
| Q1 25 | 3.6% | — | ||
| Q4 24 | 10.2% | — | ||
| Q3 24 | 13.8% | — | ||
| Q2 24 | 10.4% | — |
| Q2 26 | — | — | ||
| Q4 25 | 7.9% | — | ||
| Q3 25 | 6.3% | — | ||
| Q2 25 | 5.4% | — | ||
| Q1 25 | 6.4% | — | ||
| Q4 24 | 9.0% | — | ||
| Q3 24 | 5.9% | — | ||
| Q2 24 | 4.9% | — |
| Q2 26 | — | — | ||
| Q4 25 | 1.93× | 15.83× | ||
| Q3 25 | 1.35× | -3.91× | ||
| Q2 25 | 1.34× | -4.56× | ||
| Q1 25 | 0.92× | -5.00× | ||
| Q4 24 | 1.62× | 115.81× | ||
| Q3 24 | 1.07× | -6.84× | ||
| Q2 24 | 1.24× | -4.76× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ECL
| Product and equipment sales | $3.2B | 78% |
| Service and lease sales | $891.5M | 22% |
RGA
Segment breakdown not available.
