Reinsurance Group of America, Incorporated Financial Ratios — RGA

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	20.2	20.46	11.93	17.32	11.33	14.28	30.53	10.21	11.42	5.15	14	6.18	10.63	7.94	12.18
Return on Assets (%)	1.8	1.76	1.05	1.62	1.06	1.36	3.21	1.15	1.23	0.51	1.32	0.58	0.99	0.66	0.86
Return on Capital (%)	12.66	10.92	7.54	10.97	7.76	9.21	- -	7.83	8.84	4.51	10.33	5.21	8.58	6.75	9.61
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	8.65	9.34	6.16	9.25	7.15	9.06	9.13	6.57	7.97	3.79	8.62	4.52	6.31	4.45	6.5
Profit Margin (%)	6.18	6.42	4.06	6.27	4.82	6.09	14.56	5.56	6.13	2.85	7.28	3.26	4.9	3.25	4.99
Net Income to Common Margin (%)	6.18	6.42	4.06	6.27	4.82	6.09	14.56	5.56	6.13	2.85	7.28	3.26	4.9	3.25	4.99
Effective Tax Rate (%)	28.49	31.26	34.07	32.17	32.58	32.81	- -	15.37	23.14	24.95	15.52	27.44	21.64	26.12	22.79
Dvd Payout Ratio (%)	8.1	9.8	18.54	12.76	18.6	14.31	6.42	19.55	18.74	43.86	16.58	39.05	23.91	31.33	20.07
Sustainable Growth Rate (%)	18.56	18.45	9.72	15.11	9.23	12.24	28.57	8.22	9.28	2.89	11.68	3.77	8.09	5.45	9.74

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	3,163	3,564	2,699	3,072	3,496	3,929	3,972	3,470	3,979	3,961	4,247	3,961	4,427	5,042	5,710
ST Debt	1,096	1,097	- -	- -	300	300	400	400	400	400	400	400	- -	- -	- -
LT Debt	2,067	2,467	2,699	3,072	3,197	3,629	3,572	3,070	3,579	3,561	3,847	3,561	4,427	5,042	5,710
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	-0.91	-0.16	-0.32	-0.3	-0.2	-0.2	-0.16	-0.14	-0.13	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	103	105	124	97	143	138	146	147	173	170	139	191	257	304	366
Common Equity/Total Assets	8.91	8.32	9.23	9.5	9.17	9.79	11.13	11.29	10.36	9.63	9.29	9.62	9.02	7.8	6.48
Long-Term Debt/Equity (%)	35.52	35.7	45.47	43.73	52.1	51.17	37.33	36.33	30.85	24.81	29.56	49.66	48.27	46.23	42.14
Long-Term Debt/Capital (%)	34.55	35.64	42.44	42.01	39.38	39.76	33.36	28.54	29.99	29.41	30.03	29.14	33.23	35.04	35.79
Long-Term Debt/Total Assets (%)	6.53	6.11	6.8	6.88	6.34	6.84	5.9	4.76	4.66	4.21	4.17	4.19	4.53	4.25	3.65
Total Debt/Equity (%)	54.35	51.57	45.47	43.73	56.99	55.4	41.51	41.07	34.3	27.6	32.63	55.24	48.27	46.23	42.14
Total Debt/Capital (%)	52.87	51.49	42.44	42.01	43.07	43.04	37.09	32.26	33.35	32.71	33.15	32.41	33.23	35.04	35.79
Total Debt/Total Assets (%)	10	8.83	6.8	6.88	6.94	7.4	6.56	5.38	5.19	4.68	4.61	4.67	4.53	4.25	3.65
Net Debt to Equity	37.81	33.34	29.91	20.3	32.13	38.47	27.89	18.7	21.81	3.85	9.98	14.42	15.89	15.73	11.38
Net Debt/Capital (%)	43.83	40.69	32.66	25.17	29.9	34.42	28.37	17.82	24.13	6.35	13.17	11.13	14.07	15.51	13.09
EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	- -	- -	- -	-88	-24	-45	-44	-29	-34	-28	-19	-25	- -	- -	- -
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	8.91	8.32	9.23	9.5	9.17	9.79	11.13	11.29	10.36	9.63	9.29	9.62	9.02	7.8	6.48
Long-Term Debt/Equity (%)	35.52	35.7	45.47	43.73	52.1	51.17	37.33	36.33	30.85	24.81	29.56	49.66	48.27	46.23	42.14
Long-Term Debt/Capital (%)	34.55	35.64	42.44	42.01	39.38	39.76	33.36	28.54	29.99	29.41	30.03	29.14	33.23	35.04	35.79
Long-Term Debt/Total Assets (%)	6.53	6.11	6.8	6.88	6.34	6.84	5.9	4.76	4.66	4.21	4.17	4.19	4.53	4.25	3.65
Total Debt/Equity (%)	54.35	51.57	45.47	43.73	56.99	55.4	41.51	41.07	34.3	27.6	32.63	55.24	48.27	46.23	42.14
Total Debt/Capital (%)	52.87	51.49	42.44	42.01	43.07	43.04	37.09	32.26	33.35	32.71	33.15	32.41	33.23	35.04	35.79
Total Debt/Total Assets (%)	10	8.83	6.8	6.88	6.94	7.4	6.56	5.38	5.19	4.68	4.61	4.67	4.53	4.25	3.65
CFO/Total Liabilities	5.07	5.9	5.12	6.21	4.72	3.19	3.89	2.82	3.54	4.73	5.28	1.73	4.57	8.69	2.86
CFO/CapEx	- -	- -	- -	26.44	88.68	32.83	45.05	54.52	67.85	118.64	220.11	53.72	- -	- -	- -
Altman's Z-Score	0.5	0.43	0.49	0.47	0.41	0.46	0.48	0.45	0.42	0.37	0.36	0.4	0.39	0.37	0.3

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	10.61	15.78	16.98	18.6	17.13	17.43	17.08	16.72	17.09	15.46	9.02	6.05	4.53	4.02	3.73
Days Sales Outstanding	34.39	23.13	21.5	19.63	21.3	20.94	21.38	21.83	21.36	23.61	40.49	60.35	80.55	90.88	97.91
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	3,845	3,946	5,567	6,068	5,694	8,088	10,046	8,927	10,221	7,577	7,425	9,512	10,729	14,060	13,404
- Cash & Cash Equivalents	963	1,260	924	1,646	1,525	1,201	1,304	1,890	1,449	3,408	2,948	2,927	2,970	3,326	4,168
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	90	90	90	90
+ Total Debt	3,163	3,564	2,699	3,072	3,496	3,929	3,972	3,470	3,979	3,961	4,247	3,961	4,427	5,042	5,710
Enterprise Value	2,904	2,230	3,372	-18,085	-22,536	-21,354	-25,529	-29,628	-38,434	-48,832	-52,112	-42,419	-48,413	-62,114	962
Total Capital	5,982	6,922	6,360	7,312	8,117	9,129	10,709	10,756	11,932	12,110	12,811	12,221	13,323	14,388	15,952
Total Debt/Capital (%)	52.87	51.49	42.44	42.01	43.07	43.04	37.09	32.26	33.35	32.71	33.15	32.41	33.23	35.04	35.79
Total Debt / EV	1.09	1.6	0.8	-0.17	-0.16	-0.18	-0.16	-0.12	-0.1	-0.08	-0.08	-0.09	-0.09	-0.08	5.94
EV/Sales	0.33	0.23	0.33	0.2	0.14	0.43	0.46	0.24	0.21	- -	- -	0.18	0.16	0.23	0.04
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	2.1	1.09	1.86	0.89	0.66	3.19	2.58	1.78	1.24	- -	- -	1.92	0.7	0.53	0.22
EV/Free Cash Flow to Firm	2.1	1.09	1.86	0.86	0.65	3.1	2.53	1.75	1.22	- -	- -	1.89	0.7	0.53	0.22
Diluted Market Cap	3,872	3,969	5,609	6,130	5,757	8,178	10,253	9,128	10,417	7,630	7,477	9,620	10,858	14,288	13,593
Diluted Enterprise Value	6,072	6,273	7,385	7,556	7,728	10,906	12,922	10,708	12,947	8,183	8,776	10,744	12,405	16,094	15,225
EV per Share	39.46	30.25	46.88	30.84	21.61	77.31	88.59	47.62	48.2	- -	- -	42.56	45.12	77.98	14.6
TTM Sales	8,830	9,841	10,318	10,904	10,418	11,522	12,516	12,876	14,199	14,584	16,061	15,880	18,396	22,047	23,683
TTM EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	1,383	2,047	1,809	2,402	2,185	1,558	2,215	1,705	2,440	3,450	4,299	1,482	4,245	9,595	4,374
TTM Free Cash Flow to Firm	1,383	2,047	1,809	2,490	2,208	1,603	2,259	1,734	2,474	3,478	4,318	1,507	4,245	9,595	4,374

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	2.96	2.01	3.25	2.53	2.73	5.41	5.06	5.67	4.45	2.28	1.78	7.03	2.69	1.52	3.32
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	2,904	2,230	3,372	-18,085	-22,536	-21,354	-25,529	-29,628	-38,434	-48,832	-52,112	-42,419	-48,413	-62,114	962
Low Price	44.51	48.36	54.33	70.22	81.82	76.96	121.93	127.84	136.5	55.39	94.32	97.61	120.99	162	159.25
EV/Sales	0.33	0.23	0.33	0.2	0.14	0.43	0.46	0.24	0.21	- -	- -	0.18	0.16	0.23	0.04
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	7.04	6.25	13.29	8.87	11.34	11.53	5.51	12.47	11.75	18.26	6.35	18.4	11.89	19.61	11.34
Price/Earnings Average	7.6	6.43	11.24	8.07	12.16	9.25	4.77	13.09	11	16.69	6.81	15.85	10.68	18.5	10.96
Price/Earnings High	8.67	7.08	13.32	9.1	13.08	11.85	5.84	14.66	12.2	25.94	7.82	19.26	12.54	21.46	12.98
Price/Earnings Low	6	5.64	9.33	7.11	10.84	7.05	4.31	11.37	9.83	8.73	5.47	12.64	8.9	14.87	8.88
Price/Book Value	1.36	1.18	1.52	1.43	1.23	1.56	1.49	1.23	1.29	0.93	0.87	1.16	1.22	1.52	1.32
Price/Book Value Average	1.47	1.21	1.29	1.3	1.32	1.25	1.29	1.29	1.2	0.85	0.93	1	1.09	1.43	1.28
Price/Book Value High	1.68	1.33	1.52	1.47	1.42	1.6	1.58	1.44	1.33	1.32	1.07	1.22	1.28	1.66	1.51
Price/Book Value Low	1.16	1.06	1.07	1.15	1.18	0.95	1.17	1.12	1.08	0.44	0.75	0.8	0.91	1.15	1.03
Price/Tangible Book Value	0.68	0.58	0.95	0.87	0.94	1.15	1.06	1.07	0.89	0.53	0.57	1.33	1.17	1.29	0.99
Price/Tangible Book Value Average	0.74	0.6	0.81	0.8	1.01	0.92	0.91	1.12	0.83	0.48	0.61	1.15	1.05	1.22	0.96
Price/Tangible Book Value High	0.84	0.66	0.96	0.9	1.08	1.18	1.12	1.26	0.92	0.75	0.71	1.39	1.24	1.41	1.13
Price/Tangible Book Value Low	0.58	0.53	0.67	0.7	0.9	0.7	0.83	0.97	0.74	0.25	0.49	0.91	0.88	0.98	0.77
Price/Sales	0.44	0.4	0.54	0.56	0.55	0.7	0.8	0.69	0.72	0.52	0.46	0.6	0.58	0.64	0.57
Price/Sales Average	0.47	0.41	0.46	0.51	0.59	0.56	0.69	0.73	0.67	0.47	0.5	0.52	0.52	0.6	0.55
Price/Sales High	0.54	0.45	0.54	0.57	0.63	0.72	0.85	0.82	0.75	0.74	0.57	0.63	0.62	0.7	0.65
Price/Sales Low	0.37	0.36	0.38	0.45	0.52	0.43	0.63	0.63	0.6	0.25	0.4	0.41	0.44	0.48	0.44
Price/Cash Flow	2.94	2	3.22	2.6	2.73	5.52	5.07	5.65	4.43	2.28	1.78	7.08	2.65	1.5	3.28
Price/Cash Flow Average	3.17	2.06	2.73	2.36	2.92	4.43	4.39	5.93	4.15	2.08	1.9	6.1	2.38	1.42	3.17
Price/Cash Flow High	3.61	2.27	3.23	2.66	3.15	5.67	5.37	6.64	4.6	3.24	2.19	7.41	2.8	1.64	3.75
Price/Cash Flow Low	2.5	1.81	2.26	2.08	2.61	3.37	3.96	5.15	3.71	1.09	1.53	4.87	1.98	1.14	2.56
Price/Free Cash Flow Average	3.19	2.07	2.75	2.3	2.92	4.34	4.38	5.95	4.17	2.08	1.91	6.06	2.41	1.44	3.21
Price/Free Cash Flow High	3.64	2.28	3.25	2.59	3.14	5.56	5.36	6.67	4.62	3.24	2.19	7.36	2.83	1.67	3.8
Price/Free Cash Flow Low	2.52	1.82	2.28	2.03	2.61	3.31	3.96	5.17	3.72	1.09	1.53	4.83	2.01	1.16	2.6
EV/Sales Average	0.72	0.65	0.63	0.64	0.78	0.8	0.91	0.85	0.85	0.51	0.58	0.59	0.61	0.68	0.62
EV/Sales High	0.79	0.69	0.71	0.7	0.82	0.96	1.06	0.94	0.93	0.78	0.65	0.7	0.7	0.78	0.72
EV/Sales Low	0.62	0.6	0.55	0.58	0.71	0.67	0.84	0.75	0.78	0.29	0.48	0.48	0.52	0.57	0.51
EV/EBITDA Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	52.25	53.52	77.41	87.62	85.55	125.83	155.93	140.23	163.06	115.9	109.49	142.09	161.78	213.63	203.46
High Price	64.32	60.69	77.55	89.87	98.7	129.28	165.12	164.86	169.26	164.68	134.93	148.75	170.62	233.81	232.97
Enterprise Value Average	6,347	6,370	6,484	6,949	8,080	9,215	11,366	10,955	12,103	7,479	9,261	9,318	11,184	15,071	14,589
Enterprise Value High	6,933	6,779	7,353	7,649	8,540	11,038	13,307	12,075	13,140	11,319	10,449	11,082	12,862	17,194	16,980
Enterprise Value Low	5,475	5,870	5,683	6,289	7,416	7,675	10,524	9,718	11,086	4,174	7,695	7,659	9,571	12,468	12,123

Shares Outstanding	73	74	71	69	65	64	64	63	63	68	67	67	66	66	65
Diluted Weighted Avg Shares	74	74	72	70	67	65	66	65	64	66	68	68	67	67	67
Basic Weighted Avg Shares	74	74	72	69	67	64	64	64	63	65	68	67	66	66	66
Revenue per Share	119.99	133.46	143.48	157.47	156.54	179.26	194.27	202.27	226.52	223.08	236.84	237.21	277.39	334.98	359.5
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	7.42	8.57	5.82	9.88	7.55	10.91	28.28	11.25	13.88	6.35	17.25	7.72	13.6	10.89	17.94
Basic EPS from Cont Ops	7.42	8.57	5.82	9.88	7.55	10.91	28.28	11.25	13.88	6.35	17.25	7.78	13.71	11	18.05
Diluted EPS, GAAP	7.37	8.52	5.78	9.78	7.46	10.79	27.71	11	13.62	6.3	17.13	7.64	13.44	10.72	17.69
Diluted EPS from Cont Ops	7.37	8.52	5.78	9.78	7.46	10.79	27.71	11	13.62	6.3	17.13	7.7	13.54	10.83	17.8
Dividend per Share	0.6	0.84	1.08	1.26	1.4	1.56	1.82	2.2	2.6	2.78	2.86	3.06	3.3	3.48	3.64
Cash Flow per Share	17.8	26.78	24.02	33.74	31.38	22.8	30.76	24.84	36.8	50.81	61.67	20.06	60.98	142.37	62.1
Free Cash Flow per Basic Share	17.8	26.78	24.02	32.46	31.03	22.11	30.08	24.38	36.26	50.38	61.39	19.69	60.98	142.37	62.1
Cash & Equivalents per Share	55.77	71.6	68.06	393.14	476.71	519.2	613.84	660.17	839.67	923.41	940.57	836.24	959.92	1,235.35	276.91
Book Value per Share	38.31	45.54	50.9	61.24	69.43	80.9	104.57	114.46	126.87	124.65	126.29	122.04	132.79	140.63	154.1
Tangible Book Value per Share	76.64	91.72	81.17	100.16	90.97	109.25	147.56	131.33	183.81	218.52	191.2	106.73	138.03	165.58	205.61

Reinsurance Group of America, Incorporated

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)