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Side-by-side financial comparison of McDonald's (MCD) and REINSURANCE GROUP OF AMERICA INC (RGA). Click either name above to swap in a different company.
McDonald's is the larger business by last-quarter revenue ($7.0B vs $6.6B, roughly 1.1× REINSURANCE GROUP OF AMERICA INC). McDonald's runs the higher net margin — 30.9% vs 7.0%, a 23.9% gap on every dollar of revenue. On growth, REINSURANCE GROUP OF AMERICA INC posted the faster year-over-year revenue change (26.6% vs 9.7%). Over the past eight quarters, McDonald's's revenue compounded faster (6.6% CAGR vs 2.3%).
McDonald's Corporation, doing business as McDonald's, is an American multinational fast food restaurant chain. As of 2024, it is the second-largest by number of locations in the world, behind the Chinese chain Mixue Ice Cream & Tea.
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.
MCD vs RGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.0B | $6.6B |
| Net Profit | $2.2B | $463.0M |
| Gross Margin | — | — |
| Operating Margin | 45.0% | 7.7% |
| Net Margin | 30.9% | 7.0% |
| Revenue YoY | 9.7% | 26.6% |
| Net Profit YoY | 7.3% | 212.8% |
| EPS (diluted) | $3.03 | $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 | $7.0B | $6.6B | ||
| Q3 25 | $7.1B | $6.2B | ||
| Q2 25 | $6.8B | $5.6B | ||
| Q1 25 | $6.0B | $5.3B | ||
| Q4 24 | $6.4B | $5.2B | ||
| Q3 24 | $6.9B | $5.7B | ||
| Q2 24 | $6.5B | $4.9B | ||
| Q1 24 | $6.2B | $6.3B |
| Q4 25 | $2.2B | $463.0M | ||
| Q3 25 | $2.3B | $253.0M | ||
| Q2 25 | $2.3B | $180.0M | ||
| Q1 25 | $1.9B | $286.0M | ||
| Q4 24 | $2.0B | $148.0M | ||
| Q3 24 | $2.3B | $156.0M | ||
| Q2 24 | $2.0B | $203.0M | ||
| Q1 24 | $1.9B | $210.0M |
| Q4 25 | — | — | ||
| Q3 25 | 90.6% | — | ||
| Q2 25 | 90.4% | — | ||
| Q1 25 | 89.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 90.6% | — | ||
| Q2 24 | 90.3% | — | ||
| Q1 24 | 89.8% | — |
| Q4 25 | 45.0% | 7.7% | ||
| Q3 25 | 47.4% | 5.2% | ||
| Q2 25 | 47.2% | 6.1% | ||
| Q1 25 | 44.5% | 7.0% | ||
| Q4 24 | 44.9% | 4.3% | ||
| Q3 24 | 46.4% | 3.8% | ||
| Q2 24 | 45.0% | 5.5% | ||
| Q1 24 | 44.4% | 4.3% |
| Q4 25 | 30.9% | 7.0% | ||
| Q3 25 | 32.2% | 4.1% | ||
| Q2 25 | 32.9% | 3.2% | ||
| Q1 25 | 31.4% | 5.4% | ||
| Q4 24 | 31.6% | 2.8% | ||
| Q3 24 | 32.8% | 2.8% | ||
| Q2 24 | 31.2% | 4.2% | ||
| Q1 24 | 31.3% | 3.3% |
| Q4 25 | $3.03 | $6.91 | ||
| Q3 25 | $3.18 | $3.81 | ||
| Q2 25 | $3.14 | $2.70 | ||
| Q1 25 | $2.60 | $4.27 | ||
| Q4 24 | $2.80 | $2.21 | ||
| Q3 24 | $3.13 | $2.33 | ||
| Q2 24 | $2.80 | $3.03 | ||
| Q1 24 | $2.66 | $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 | $774.0M | $4.2B |
| Total DebtLower is stronger | $40.0B | $5.7B |
| Stockholders' EquityBook value | $-1.8B | $13.5B |
| Total Assets | $59.5B | $156.6B |
| Debt / EquityLower = less leverage | — | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $774.0M | $4.2B | ||
| Q3 25 | $2.4B | $4.6B | ||
| Q2 25 | $1.9B | $5.4B | ||
| Q1 25 | $1.2B | $5.2B | ||
| Q4 24 | $1.1B | $3.3B | ||
| Q3 24 | $1.2B | $5.2B | ||
| Q2 24 | $792.0M | $4.6B | ||
| Q1 24 | $838.0M | $5.9B |
| Q4 25 | $40.0B | $5.7B | ||
| Q3 25 | — | $5.7B | ||
| Q2 25 | — | $5.7B | ||
| Q1 25 | — | $5.7B | ||
| Q4 24 | $38.4B | $5.0B | ||
| Q3 24 | — | $5.1B | ||
| Q2 24 | — | $5.1B | ||
| Q1 24 | — | $4.4B |
| Q4 25 | $-1.8B | $13.5B | ||
| Q3 25 | $-2.2B | $13.0B | ||
| Q2 25 | $-2.8B | $12.1B | ||
| Q1 25 | $-3.5B | $11.4B | ||
| Q4 24 | $-3.8B | $10.8B | ||
| Q3 24 | $-5.2B | $11.1B | ||
| Q2 24 | $-4.8B | $9.7B | ||
| Q1 24 | $-4.8B | $9.5B |
| Q4 25 | $59.5B | $156.6B | ||
| Q3 25 | $60.6B | $152.0B | ||
| Q2 25 | $59.6B | $133.5B | ||
| Q1 25 | $56.3B | $128.2B | ||
| Q4 24 | $55.2B | $118.7B | ||
| Q3 24 | $56.2B | $120.3B | ||
| Q2 24 | $53.8B | $109.9B | ||
| Q1 24 | $53.5B | $106.0B |
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.44× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.46× | ||
| Q2 24 | — | 0.52× | ||
| Q1 24 | — | 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 | $2.7B | $7.3B |
| Free Cash FlowOCF − Capex | $1.6B | — |
| FCF MarginFCF / Revenue | 23.4% | — |
| Capex IntensityCapex / Revenue | 15.1% | — |
| Cash ConversionOCF / Net Profit | 1.25× | 15.83× |
| TTM Free Cash FlowTrailing 4 quarters | $7.2B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.7B | $7.3B | ||
| Q3 25 | $3.4B | $-990.0M | ||
| Q2 25 | $2.0B | $-820.0M | ||
| Q1 25 | $2.4B | $-1.4B | ||
| Q4 24 | $2.6B | $17.1B | ||
| Q3 24 | $2.7B | $-1.1B | ||
| Q2 24 | $1.7B | $-967.0M | ||
| Q1 24 | $2.4B | $-5.7B |
| Q4 25 | $1.6B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.8B | — |
| Q4 25 | 23.4% | — | ||
| Q3 25 | 34.1% | — | ||
| Q2 25 | 18.3% | — | ||
| Q1 25 | 31.5% | — | ||
| Q4 24 | 28.6% | — | ||
| Q3 24 | 28.3% | — | ||
| Q2 24 | 16.3% | — | ||
| Q1 24 | 29.9% | — |
| Q4 25 | 15.1% | — | ||
| Q3 25 | 14.3% | — | ||
| Q2 25 | 10.9% | — | ||
| Q1 25 | 9.3% | — | ||
| Q4 24 | 12.6% | — | ||
| Q3 24 | 11.6% | — | ||
| Q2 24 | 9.7% | — | ||
| Q1 24 | 8.9% | — |
| Q4 25 | 1.25× | 15.83× | ||
| Q3 25 | 1.50× | -3.91× | ||
| Q2 25 | 0.89× | -4.56× | ||
| Q1 25 | 1.30× | -5.00× | ||
| Q4 24 | 1.30× | 115.81× | ||
| Q3 24 | 1.21× | -6.84× | ||
| Q2 24 | 0.84× | -4.76× | ||
| Q1 24 | 1.24× | -27.31× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MCD
| International Operated Markets | $3.6B | 51% |
| Other | $2.8B | 40% |
| International Developmental Licensed Marketsand Corporate | $633.0M | 9% |
RGA
Segment breakdown not available.
