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Side-by-side financial comparison of PG&E Corporation (PCG) and REINSURANCE GROUP OF AMERICA INC (RGA). Click either name above to swap in a different company.
PG&E Corporation is the larger business by last-quarter revenue ($6.9B vs $6.6B, roughly 1.0× REINSURANCE GROUP OF AMERICA INC). PG&E Corporation runs the higher net margin — 12.9% vs 7.0%, a 5.9% gap on every dollar of revenue. On growth, REINSURANCE GROUP OF AMERICA INC posted the faster year-over-year revenue change (26.6% vs 15.0%). Over the past eight quarters, PG&E Corporation's revenue compounded faster (7.2% CAGR vs 2.3%).
Pacific Gas and Electric Company (PG&E) is an American investor-owned utility (IOU). The company is headquartered at Kaiser Center, in Oakland, California. PG&E provides natural gas and electricity to 5.2 million households in the northern two-thirds of California, from Bakersfield and northern Santa Barbara County, almost to the Oregon and Nevada state lines.
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.
PCG vs RGA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.9B | $6.6B |
| Net Profit | $885.0M | $463.0M |
| Gross Margin | — | — |
| Operating Margin | 21.4% | 7.7% |
| Net Margin | 12.9% | 7.0% |
| Revenue YoY | 15.0% | 26.6% |
| Net Profit YoY | 39.6% | 212.8% |
| EPS (diluted) | $0.39 | $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.
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.8B | $6.6B | ||
| Q3 25 | $6.3B | $6.2B | ||
| Q2 25 | $5.9B | $5.6B | ||
| Q1 25 | $6.0B | $5.3B | ||
| Q4 24 | $6.6B | $5.2B | ||
| Q3 24 | $5.9B | $5.7B | ||
| Q2 24 | $6.0B | $4.9B |
| Q1 26 | $885.0M | — | ||
| Q4 25 | $670.0M | $463.0M | ||
| Q3 25 | $850.0M | $253.0M | ||
| Q2 25 | $549.0M | $180.0M | ||
| Q1 25 | $634.0M | $286.0M | ||
| Q4 24 | $674.0M | $148.0M | ||
| Q3 24 | $579.0M | $156.0M | ||
| Q2 24 | $524.0M | $203.0M |
| Q1 26 | 21.4% | — | ||
| Q4 25 | 18.0% | 7.7% | ||
| Q3 25 | 19.3% | 5.2% | ||
| Q2 25 | 18.6% | 6.1% | ||
| Q1 25 | 20.4% | 7.0% | ||
| Q4 24 | 15.4% | 4.3% | ||
| Q3 24 | 17.3% | 3.8% | ||
| Q2 24 | 18.9% | 5.5% |
| Q1 26 | 12.9% | — | ||
| Q4 25 | 9.8% | 7.0% | ||
| Q3 25 | 13.6% | 4.1% | ||
| Q2 25 | 9.3% | 3.2% | ||
| Q1 25 | 10.6% | 5.4% | ||
| Q4 24 | 10.2% | 2.8% | ||
| Q3 24 | 9.7% | 2.8% | ||
| Q2 24 | 8.8% | 4.2% |
| Q1 26 | $0.39 | — | ||
| Q4 25 | $0.29 | $6.91 | ||
| Q3 25 | $0.37 | $3.81 | ||
| Q2 25 | $0.24 | $2.70 | ||
| Q1 25 | $0.28 | $4.27 | ||
| Q4 24 | $0.30 | $2.21 | ||
| Q3 24 | $0.27 | $2.33 | ||
| Q2 24 | $0.24 | $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 | — | $4.2B |
| Total DebtLower is stronger | — | $5.7B |
| Stockholders' EquityBook value | — | $13.5B |
| Total Assets | — | $156.6B |
| Debt / EquityLower = less leverage | — | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $713.0M | $4.2B | ||
| Q3 25 | $404.0M | $4.6B | ||
| Q2 25 | $494.0M | $5.4B | ||
| Q1 25 | $2.0B | $5.2B | ||
| Q4 24 | $940.0M | $3.3B | ||
| Q3 24 | $895.0M | $5.2B | ||
| Q2 24 | $1.3B | $4.6B |
| Q1 26 | — | — | ||
| Q4 25 | $57.4B | $5.7B | ||
| Q3 25 | — | $5.7B | ||
| Q2 25 | — | $5.7B | ||
| Q1 25 | — | $5.7B | ||
| Q4 24 | $53.6B | $5.0B | ||
| Q3 24 | — | $5.1B | ||
| Q2 24 | — | $5.1B |
| Q1 26 | — | — | ||
| Q4 25 | $32.5B | $13.5B | ||
| Q3 25 | $32.0B | $13.0B | ||
| Q2 25 | $31.2B | $12.1B | ||
| Q1 25 | $30.7B | $11.4B | ||
| Q4 24 | $30.1B | $10.8B | ||
| Q3 24 | $26.8B | $11.1B | ||
| Q2 24 | $26.3B | $9.7B |
| Q1 26 | — | — | ||
| Q4 25 | $141.6B | $156.6B | ||
| Q3 25 | $138.2B | $152.0B | ||
| Q2 25 | $136.4B | $133.5B | ||
| Q1 25 | $135.4B | $128.2B | ||
| Q4 24 | $133.7B | $118.7B | ||
| Q3 24 | $132.3B | $120.3B | ||
| Q2 24 | $130.8B | $109.9B |
| Q1 26 | — | — | ||
| Q4 25 | 1.76× | 0.42× | ||
| Q3 25 | — | 0.44× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | 1.78× | 0.47× | ||
| Q3 24 | — | 0.46× | ||
| Q2 24 | — | 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.
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $7.3B | ||
| Q3 25 | $2.9B | $-990.0M | ||
| Q2 25 | $1.1B | $-820.0M | ||
| Q1 25 | $2.8B | $-1.4B | ||
| Q4 24 | $1.9B | $17.1B | ||
| Q3 24 | $3.1B | $-1.1B | ||
| Q2 24 | $711.0M | $-967.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-1.2B | — | ||
| Q3 25 | $-80.0M | — | ||
| Q2 25 | $-2.0B | — | ||
| Q1 25 | $213.0M | — | ||
| Q4 24 | $-896.0M | — | ||
| Q3 24 | $526.0M | — | ||
| Q2 24 | $-1.6B | — |
| Q1 26 | — | — | ||
| Q4 25 | -17.6% | — | ||
| Q3 25 | -1.3% | — | ||
| Q2 25 | -34.0% | — | ||
| Q1 25 | 3.6% | — | ||
| Q4 24 | -13.5% | — | ||
| Q3 24 | 8.9% | — | ||
| Q2 24 | -26.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 46.4% | — | ||
| Q3 25 | 46.9% | — | ||
| Q2 25 | 52.0% | — | ||
| Q1 25 | 44.0% | — | ||
| Q4 24 | 42.6% | — | ||
| Q3 24 | 43.8% | — | ||
| Q2 24 | 38.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.93× | 15.83× | ||
| Q3 25 | 3.35× | -3.91× | ||
| Q2 25 | 1.93× | -4.56× | ||
| Q1 25 | 4.49× | -5.00× | ||
| Q4 24 | 2.87× | 115.81× | ||
| Q3 24 | 5.41× | -6.84× | ||
| Q2 24 | 1.36× | -4.76× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
RGA
Segment breakdown not available.
