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Side-by-side financial comparison of Freeport-McMoRan (FCX) 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 $5.3B, roughly 1.3× Freeport-McMoRan). Freeport-McMoRan runs the higher net margin — 10.7% 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 -10.4%). Over the past eight quarters, REINSURANCE GROUP OF AMERICA INC's revenue compounded faster (2.3% CAGR vs -7.9%).
Freeport-McMoRan Inc., often called Freeport, is an American mining company based in the Freeport-McMoRan Center, in Phoenix, Arizona. The company is the world's largest producer of molybdenum, a major copper producer and operates the world's largest gold mine, the Grasberg mine in Papua, Indonesia.
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.
FCX vs RGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.3B | $6.6B |
| Net Profit | $565.0M | $463.0M |
| Gross Margin | 12.4% | — |
| Operating Margin | 15.4% | 7.7% |
| Net Margin | 10.7% | 7.0% |
| Revenue YoY | -10.4% | 26.6% |
| Net Profit YoY | -21.6% | 212.8% |
| EPS (diluted) | — | $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 | $5.3B | $6.6B | ||
| Q3 25 | $6.8B | $6.2B | ||
| Q2 25 | $7.5B | $5.6B | ||
| Q1 25 | $5.6B | $5.3B | ||
| Q4 24 | $5.9B | $5.2B | ||
| Q3 24 | $6.7B | $5.7B | ||
| Q2 24 | $6.4B | $4.9B | ||
| Q1 24 | $6.2B | $6.3B |
| Q4 25 | $565.0M | $463.0M | ||
| Q3 25 | $1.2B | $253.0M | ||
| Q2 25 | $1.5B | $180.0M | ||
| Q1 25 | $793.0M | $286.0M | ||
| Q4 24 | $721.0M | $148.0M | ||
| Q3 24 | $1.2B | $156.0M | ||
| Q2 24 | $1.3B | $203.0M | ||
| Q1 24 | $1.2B | $210.0M |
| Q4 25 | 12.4% | — | ||
| Q3 25 | 29.2% | — | ||
| Q2 25 | 34.2% | — | ||
| Q1 25 | 24.3% | — | ||
| Q4 24 | 27.0% | — | ||
| Q3 24 | 30.0% | — | ||
| Q2 24 | 31.5% | — | ||
| Q1 24 | 28.5% | — |
| Q4 25 | 15.4% | 7.7% | ||
| Q3 25 | 28.9% | 5.2% | ||
| Q2 25 | 32.3% | 6.1% | ||
| Q1 25 | 23.4% | 7.0% | ||
| Q4 24 | 21.1% | 4.3% | ||
| Q3 24 | 29.0% | 3.8% | ||
| Q2 24 | 32.0% | 5.5% | ||
| Q1 24 | 26.3% | 4.3% |
| Q4 25 | 10.7% | 7.0% | ||
| Q3 25 | 18.3% | 4.1% | ||
| Q2 25 | 20.6% | 3.2% | ||
| Q1 25 | 14.2% | 5.4% | ||
| Q4 24 | 12.3% | 2.8% | ||
| Q3 24 | 18.5% | 2.8% | ||
| Q2 24 | 20.0% | 4.2% | ||
| Q1 24 | 18.7% | 3.3% |
| Q4 25 | — | $6.91 | ||
| Q3 25 | $0.46 | $3.81 | ||
| Q2 25 | $0.53 | $2.70 | ||
| Q1 25 | $0.24 | $4.27 | ||
| Q4 24 | — | $2.21 | ||
| Q3 24 | $0.36 | $2.33 | ||
| Q2 24 | $0.42 | $3.03 | ||
| Q1 24 | $0.32 | $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 | $3.8B | $4.2B |
| Total DebtLower is stronger | $9.4B | $5.7B |
| Stockholders' EquityBook value | $18.9B | $13.5B |
| Total Assets | $58.2B | $156.6B |
| Debt / EquityLower = less leverage | 0.50× | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.8B | $4.2B | ||
| Q3 25 | $4.3B | $4.6B | ||
| Q2 25 | $4.5B | $5.4B | ||
| Q1 25 | $4.4B | $5.2B | ||
| Q4 24 | $3.9B | $3.3B | ||
| Q3 24 | $5.0B | $5.2B | ||
| Q2 24 | $5.3B | $4.6B | ||
| Q1 24 | $5.2B | $5.9B |
| Q4 25 | $9.4B | $5.7B | ||
| Q3 25 | — | $5.7B | ||
| Q2 25 | — | $5.7B | ||
| Q1 25 | $9.4B | $5.7B | ||
| Q4 24 | $8.9B | $5.0B | ||
| Q3 24 | $9.7B | $5.1B | ||
| Q2 24 | $9.4B | $5.1B | ||
| Q1 24 | $9.4B | $4.4B |
| Q4 25 | $18.9B | $13.5B | ||
| Q3 25 | $18.7B | $13.0B | ||
| Q2 25 | $18.2B | $12.1B | ||
| Q1 25 | $17.7B | $11.4B | ||
| Q4 24 | $17.6B | $10.8B | ||
| Q3 24 | $17.5B | $11.1B | ||
| Q2 24 | $17.4B | $9.7B | ||
| Q1 24 | $17.0B | $9.5B |
| Q4 25 | $58.2B | $156.6B | ||
| Q3 25 | $56.8B | $152.0B | ||
| Q2 25 | $56.5B | $133.5B | ||
| Q1 25 | $56.0B | $128.2B | ||
| Q4 24 | $54.8B | $118.7B | ||
| Q3 24 | $55.4B | $120.3B | ||
| Q2 24 | $54.6B | $109.9B | ||
| Q1 24 | $54.2B | $106.0B |
| Q4 25 | 0.50× | 0.42× | ||
| Q3 25 | — | 0.44× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | 0.53× | 0.50× | ||
| Q4 24 | 0.51× | 0.47× | ||
| Q3 24 | 0.55× | 0.46× | ||
| Q2 24 | 0.54× | 0.52× | ||
| Q1 24 | 0.56× | 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 | $693.0M | $7.3B |
| Free Cash FlowOCF − Capex | $-312.0M | — |
| FCF MarginFCF / Revenue | -5.9% | — |
| Capex IntensityCapex / Revenue | 19.1% | — |
| Cash ConversionOCF / Net Profit | 1.23× | 15.83× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $693.0M | $7.3B | ||
| Q3 25 | $1.7B | $-990.0M | ||
| Q2 25 | $2.2B | $-820.0M | ||
| Q1 25 | $1.1B | $-1.4B | ||
| Q4 24 | $1.4B | $17.1B | ||
| Q3 24 | $1.9B | $-1.1B | ||
| Q2 24 | $2.0B | $-967.0M | ||
| Q1 24 | $1.9B | $-5.7B |
| Q4 25 | $-312.0M | — | ||
| Q3 25 | $608.0M | — | ||
| Q2 25 | $934.0M | — | ||
| Q1 25 | $-114.0M | — | ||
| Q4 24 | $197.0M | — | ||
| Q3 24 | $673.0M | — | ||
| Q2 24 | $840.0M | — | ||
| Q1 24 | $642.0M | — |
| Q4 25 | -5.9% | — | ||
| Q3 25 | 8.9% | — | ||
| Q2 25 | 12.4% | — | ||
| Q1 25 | -2.0% | — | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 13.1% | — | ||
| Q1 24 | 10.3% | — |
| Q4 25 | 19.1% | — | ||
| Q3 25 | 15.5% | — | ||
| Q2 25 | 16.8% | — | ||
| Q1 25 | 21.0% | — | ||
| Q4 24 | 21.1% | — | ||
| Q3 24 | 17.9% | — | ||
| Q2 24 | 17.4% | — | ||
| Q1 24 | 20.2% | — |
| Q4 25 | 1.23× | 15.83× | ||
| Q3 25 | 1.33× | -3.91× | ||
| Q2 25 | 1.42× | -4.56× | ||
| Q1 25 | 1.33× | -5.00× | ||
| Q4 24 | 1.99× | 115.81× | ||
| Q3 24 | 1.51× | -6.84× | ||
| Q2 24 | 1.53× | -4.76× | ||
| Q1 24 | 1.63× | -27.31× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FCX
| Morenci | $2.5B | 47% |
| Grasberg Segment | $964.0M | 18% |
| Copper In Concentrates | $934.0M | 18% |
| Molybdenum | $541.0M | 10% |
| Gold | $388.0M | 7% |
RGA
Segment breakdown not available.
