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Side-by-side financial comparison of REINSURANCE GROUP OF AMERICA INC (RGA) and Sea Ltd (SE). Click either name above to swap in a different company.
Sea Ltd is the larger business by last-quarter revenue ($22.9B vs $6.6B, roughly 3.5× REINSURANCE GROUP OF AMERICA INC). Sea Ltd runs the higher net margin — 7.0% vs 7.0%, a 0.0% gap on every dollar of revenue. On growth, Sea Ltd posted the faster year-over-year revenue change (363.4% vs 26.6%). Over the past eight quarters, Sea Ltd's revenue compounded faster (147.8% CAGR vs 2.3%).
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.
Sea Limited is a tech conglomerate headquartered in Singapore. It is listed on the New York Stock Exchange, with revenue of US$16.8 billion (2024). Sea currently functions as a holding company for Garena, Monee and Shopee, the largest e-commerce platform in Southeast Asia.
RGA vs SE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.6B | $22.9B |
| Net Profit | $463.0M | $1.6B |
| Gross Margin | — | 44.7% |
| Operating Margin | 7.7% | 8.7% |
| Net Margin | 7.0% | 7.0% |
| Revenue YoY | 26.6% | 363.4% |
| Net Profit YoY | 212.8% | — |
| EPS (diluted) | $6.91 | $2.52 |
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 | $6.6B | $22.9B | ||
| Q3 25 | $6.2B | $6.0B | ||
| Q2 25 | $5.6B | $5.3B | ||
| Q1 25 | $5.3B | $4.8B | ||
| Q4 24 | $5.2B | $5.0B | ||
| Q3 24 | $5.7B | $4.3B | ||
| Q2 24 | $4.9B | $3.8B | ||
| Q1 24 | $6.3B | $3.7B |
| Q4 25 | $463.0M | $1.6B | ||
| Q3 25 | $253.0M | $375.0M | ||
| Q2 25 | $180.0M | $414.2M | ||
| Q1 25 | $286.0M | $-7.8M | ||
| Q4 24 | $148.0M | — | ||
| Q3 24 | $156.0M | — | ||
| Q2 24 | $203.0M | — | ||
| Q1 24 | $210.0M | $-23.0M |
| Q4 25 | — | 44.7% | ||
| Q3 25 | — | 43.4% | ||
| Q2 25 | — | 45.8% | ||
| Q1 25 | — | 46.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 41.6% |
| Q4 25 | 7.7% | 8.7% | ||
| Q3 25 | 5.2% | 8.0% | ||
| Q2 25 | 6.1% | 9.3% | ||
| Q1 25 | 7.0% | 9.4% | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | 3.8% | — | ||
| Q2 24 | 5.5% | — | ||
| Q1 24 | 4.3% | 1.9% |
| Q4 25 | 7.0% | 7.0% | ||
| Q3 25 | 4.1% | 6.3% | ||
| Q2 25 | 3.2% | 7.9% | ||
| Q1 25 | 5.4% | -0.2% | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 2.8% | — | ||
| Q2 24 | 4.2% | — | ||
| Q1 24 | 3.3% | -0.6% |
| Q4 25 | $6.91 | $2.52 | ||
| Q3 25 | $3.81 | $0.59 | ||
| Q2 25 | $2.70 | $0.65 | ||
| Q1 25 | $4.27 | $0.65 | ||
| Q4 24 | $2.21 | — | ||
| Q3 24 | $2.33 | — | ||
| Q2 24 | $3.03 | — | ||
| Q1 24 | $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 | $4.2B | $10.6B |
| Total DebtLower is stronger | $5.7B | — |
| Stockholders' EquityBook value | $13.5B | $12.6B |
| Total Assets | $156.6B | $29.4B |
| Debt / EquityLower = less leverage | 0.42× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.2B | $10.6B | ||
| Q3 25 | $4.6B | — | ||
| Q2 25 | $5.4B | — | ||
| Q1 25 | $5.2B | — | ||
| Q4 24 | $3.3B | $8.6B | ||
| Q3 24 | $5.2B | — | ||
| Q2 24 | $4.6B | — | ||
| Q1 24 | $5.9B | — |
| Q4 25 | $5.7B | — | ||
| Q3 25 | $5.7B | — | ||
| Q2 25 | $5.7B | — | ||
| Q1 25 | $5.7B | — | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $5.1B | — | ||
| Q1 24 | $4.4B | — |
| Q4 25 | $13.5B | $12.6B | ||
| Q3 25 | $13.0B | — | ||
| Q2 25 | $12.1B | — | ||
| Q1 25 | $11.4B | — | ||
| Q4 24 | $10.8B | $8.4B | ||
| Q3 24 | $11.1B | — | ||
| Q2 24 | $9.7B | — | ||
| Q1 24 | $9.5B | — |
| Q4 25 | $156.6B | $29.4B | ||
| Q3 25 | $152.0B | — | ||
| Q2 25 | $133.5B | — | ||
| Q1 25 | $128.2B | — | ||
| Q4 24 | $118.7B | $22.6B | ||
| Q3 24 | $120.3B | — | ||
| Q2 24 | $109.9B | — | ||
| Q1 24 | $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 | $7.3B | $5.0B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 15.83× | 3.12× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.3B | $5.0B | ||
| Q3 25 | $-990.0M | $3.5B | ||
| Q2 25 | $-820.0M | $2.4B | ||
| Q1 25 | $-1.4B | $756.9M | ||
| Q4 24 | $17.1B | — | ||
| Q3 24 | $-1.1B | — | ||
| Q2 24 | $-967.0M | — | ||
| Q1 24 | $-5.7B | $468.5M |
| Q4 25 | 15.83× | 3.12× | ||
| Q3 25 | -3.91× | 9.46× | ||
| Q2 25 | -4.56× | 5.73× | ||
| Q1 25 | -5.00× | — | ||
| Q4 24 | 115.81× | — | ||
| Q3 24 | -6.84× | — | ||
| Q2 24 | -4.76× | — | ||
| Q1 24 | -27.31× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
