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Side-by-side financial comparison of Lam Research (LRCX) 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 1.2× Lam Research). Lam Research runs the higher net margin — 29.8% vs 7.0%, a 22.8% gap on every dollar of revenue. On growth, REINSURANCE GROUP OF AMERICA INC posted the faster year-over-year revenue change (26.6% vs 22.1%). Over the past eight quarters, Lam Research's revenue compounded faster (18.7% CAGR vs 2.3%).
Lam Research Corporation is an American supplier of wafer-fabrication equipment and related services to the semiconductor industry. Its products are used primarily in front-end wafer processing, which involves the steps that create the active components of semiconductor devices and their wiring (interconnects). The company also builds equipment for back-end wafer-level packaging (WLP) and for related manufacturing markets such as for microelectromechanical systems (MEMS).
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.
LRCX vs RGA — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.3B | $6.6B |
| Net Profit | $1.6B | $463.0M |
| Gross Margin | 49.6% | — |
| Operating Margin | 33.9% | 7.7% |
| Net Margin | 29.8% | 7.0% |
| Revenue YoY | 22.1% | 26.6% |
| Net Profit YoY | 33.8% | 212.8% |
| EPS (diluted) | $1.26 | $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 | $5.3B | $6.2B | ||
| Q2 25 | $5.2B | $5.6B | ||
| Q1 25 | $4.7B | $5.3B | ||
| Q4 24 | $4.4B | $5.2B | ||
| Q3 24 | $4.2B | $5.7B | ||
| Q2 24 | $3.9B | $4.9B | ||
| Q1 24 | $3.8B | $6.3B |
| Q4 25 | $1.6B | $463.0M | ||
| Q3 25 | $1.6B | $253.0M | ||
| Q2 25 | $1.7B | $180.0M | ||
| Q1 25 | $1.3B | $286.0M | ||
| Q4 24 | $1.2B | $148.0M | ||
| Q3 24 | $1.1B | $156.0M | ||
| Q2 24 | $1.0B | $203.0M | ||
| Q1 24 | $965.8M | $210.0M |
| Q4 25 | 49.6% | — | ||
| Q3 25 | 50.4% | — | ||
| Q2 25 | 50.1% | — | ||
| Q1 25 | 49.0% | — | ||
| Q4 24 | 47.4% | — | ||
| Q3 24 | 48.0% | — | ||
| Q2 24 | 47.5% | — | ||
| Q1 24 | 47.5% | — |
| Q4 25 | 33.9% | 7.7% | ||
| Q3 25 | 34.4% | 5.2% | ||
| Q2 25 | 33.7% | 6.1% | ||
| Q1 25 | 33.1% | 7.0% | ||
| Q4 24 | 30.5% | 4.3% | ||
| Q3 24 | 30.3% | 3.8% | ||
| Q2 24 | 29.1% | 5.5% | ||
| Q1 24 | 27.9% | 4.3% |
| Q4 25 | 29.8% | 7.0% | ||
| Q3 25 | 29.5% | 4.1% | ||
| Q2 25 | 33.3% | 3.2% | ||
| Q1 25 | 28.2% | 5.4% | ||
| Q4 24 | 27.2% | 2.8% | ||
| Q3 24 | 26.8% | 2.8% | ||
| Q2 24 | 26.4% | 4.2% | ||
| Q1 24 | 25.5% | 3.3% |
| Q4 25 | $1.26 | $6.91 | ||
| Q3 25 | $1.24 | $3.81 | ||
| Q2 25 | $1.34 | $2.70 | ||
| Q1 25 | $1.03 | $4.27 | ||
| Q4 24 | $0.92 | $2.21 | ||
| Q3 24 | $0.86 | $2.33 | ||
| Q2 24 | $7.78 | $3.03 | ||
| Q1 24 | $7.34 | $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 | $6.2B | $4.2B |
| Total DebtLower is stronger | $3.7B | $5.7B |
| Stockholders' EquityBook value | $10.1B | $13.5B |
| Total Assets | $21.4B | $156.6B |
| Debt / EquityLower = less leverage | 0.37× | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $6.2B | $4.2B | ||
| Q3 25 | $6.7B | $4.6B | ||
| Q2 25 | $6.4B | $5.4B | ||
| Q1 25 | $5.5B | $5.2B | ||
| Q4 24 | $5.7B | $3.3B | ||
| Q3 24 | $6.1B | $5.2B | ||
| Q2 24 | $5.8B | $4.6B | ||
| Q1 24 | $5.7B | $5.9B |
| Q4 25 | $3.7B | $5.7B | ||
| Q3 25 | $3.7B | $5.7B | ||
| Q2 25 | $3.7B | $5.7B | ||
| Q1 25 | $3.7B | $5.7B | ||
| Q4 24 | $4.5B | $5.0B | ||
| Q3 24 | $4.5B | $5.1B | ||
| Q2 24 | $4.5B | $5.1B | ||
| Q1 24 | $4.5B | $4.4B |
| Q4 25 | $10.1B | $13.5B | ||
| Q3 25 | $10.2B | $13.0B | ||
| Q2 25 | $9.9B | $12.1B | ||
| Q1 25 | $9.5B | $11.4B | ||
| Q4 24 | $8.8B | $10.8B | ||
| Q3 24 | $8.5B | $11.1B | ||
| Q2 24 | $8.5B | $9.7B | ||
| Q1 24 | $8.0B | $9.5B |
| Q4 25 | $21.4B | $156.6B | ||
| Q3 25 | $21.9B | $152.0B | ||
| Q2 25 | $21.3B | $133.5B | ||
| Q1 25 | $20.0B | $128.2B | ||
| Q4 24 | $19.8B | $118.7B | ||
| Q3 24 | $19.5B | $120.3B | ||
| Q2 24 | $18.7B | $109.9B | ||
| Q1 24 | $18.3B | $106.0B |
| Q4 25 | 0.37× | 0.42× | ||
| Q3 25 | 0.37× | 0.44× | ||
| Q2 25 | 0.38× | 0.48× | ||
| Q1 25 | 0.39× | 0.50× | ||
| Q4 24 | 0.51× | 0.47× | ||
| Q3 24 | 0.53× | 0.46× | ||
| Q2 24 | 0.52× | 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 | $1.5B | $7.3B |
| Free Cash FlowOCF − Capex | $1.2B | — |
| FCF MarginFCF / Revenue | 22.8% | — |
| Capex IntensityCapex / Revenue | 4.9% | — |
| Cash ConversionOCF / Net Profit | 0.93× | 15.83× |
| TTM Free Cash FlowTrailing 4 quarters | $6.2B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $7.3B | ||
| Q3 25 | $1.8B | $-990.0M | ||
| Q2 25 | $2.6B | $-820.0M | ||
| Q1 25 | $1.3B | $-1.4B | ||
| Q4 24 | $741.9M | $17.1B | ||
| Q3 24 | $1.6B | $-1.1B | ||
| Q2 24 | $862.4M | $-967.0M | ||
| Q1 24 | $1.4B | $-5.7B |
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $553.6M | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $761.7M | — | ||
| Q1 24 | $1.3B | — |
| Q4 25 | 22.8% | — | ||
| Q3 25 | 29.9% | — | ||
| Q2 25 | 46.1% | — | ||
| Q1 25 | 21.6% | — | ||
| Q4 24 | 12.7% | — | ||
| Q3 24 | 35.0% | — | ||
| Q2 24 | 19.7% | — | ||
| Q1 24 | 33.8% | — |
| Q4 25 | 4.9% | — | ||
| Q3 25 | 3.5% | — | ||
| Q2 25 | 3.3% | — | ||
| Q1 25 | 6.1% | — | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | 2.7% | — | ||
| Q2 24 | 2.6% | — | ||
| Q1 24 | 2.7% | — |
| Q4 25 | 0.93× | 15.83× | ||
| Q3 25 | 1.13× | -3.91× | ||
| Q2 25 | 1.48× | -4.56× | ||
| Q1 25 | 0.98× | -5.00× | ||
| Q4 24 | 0.62× | 115.81× | ||
| Q3 24 | 1.40× | -6.84× | ||
| Q2 24 | 0.85× | -4.76× | ||
| Q1 24 | 1.43× | -27.31× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LRCX
| System | $3.4B | 63% |
| Customer Supportand Other | $2.0B | 37% |
RGA
Segment breakdown not available.
