Intrinsic value of Reinsurance Group of America - RGA

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$126.62

  Intrinsic Value

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  Value-price divergence*

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$126.62

 
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Our model is not good at valuating stocks of financial companies, such as RGA.

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of RGA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 8.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  10.35
  7.60
  7.34
  7.11
  6.90
  6.71
  6.54
  6.38
  6.24
  6.12
  6.01
  5.91
  5.82
  5.73
  5.66
  5.59
  5.54
  5.48
  5.43
  5.39
  5.35
  5.32
  5.28
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
Revenue, $m
  0
  12,439
  13,352
  14,300
  15,286
  16,311
  17,377
  18,486
  19,641
  20,843
  22,095
  23,400
  24,761
  26,180
  27,662
  29,210
  30,827
  32,517
  34,284
  36,132
  38,065
  40,089
  42,207
  44,426
  46,749
  49,184
  51,735
  54,408
  57,211
  60,149
  63,230
Variable operating expenses, $m
 
  9,043
  9,706
  10,396
  11,113
  11,858
  12,633
  13,439
  14,278
  15,152
  16,062
  17,010
  17,999
  19,032
  20,109
  21,234
  22,409
  23,638
  24,922
  26,265
  27,671
  29,142
  30,682
  32,295
  33,984
  35,754
  37,608
  39,551
  41,589
  43,725
  45,965
Fixed operating expenses, $m
 
  2,049
  2,100
  2,153
  2,207
  2,262
  2,318
  2,376
  2,436
  2,496
  2,559
  2,623
  2,688
  2,756
  2,825
  2,895
  2,968
  3,042
  3,118
  3,196
  3,276
  3,357
  3,441
  3,527
  3,616
  3,706
  3,799
  3,894
  3,991
  4,091
  4,193
Total operating expenses, $m
  10,353
  11,092
  11,806
  12,549
  13,320
  14,120
  14,951
  15,815
  16,714
  17,648
  18,621
  19,633
  20,687
  21,788
  22,934
  24,129
  25,377
  26,680
  28,040
  29,461
  30,947
  32,499
  34,123
  35,822
  37,600
  39,460
  41,407
  43,445
  45,580
  47,816
  50,158
Operating income, $m
  1,207
  1,347
  1,545
  1,751
  1,967
  2,192
  2,426
  2,671
  2,927
  3,194
  3,474
  3,767
  4,073
  4,393
  4,729
  5,081
  5,450
  5,837
  6,244
  6,670
  7,118
  7,589
  8,084
  8,603
  9,150
  9,724
  10,328
  10,963
  11,631
  12,334
  13,073
EBITDA, $m
  1,234
  1,355
  1,554
  1,761
  1,977
  2,202
  2,437
  2,683
  2,939
  3,207
  3,488
  3,781
  4,088
  4,409
  4,746
  5,098
  5,469
  5,857
  6,264
  6,692
  7,141
  7,613
  8,109
  8,630
  9,178
  9,754
  10,359
  10,996
  11,665
  12,370
  13,111
Interest expense (income), $m
  157
  150
  312
  477
  648
  825
  1,010
  1,202
  1,402
  1,610
  1,826
  2,052
  2,287
  2,532
  2,788
  3,055
  3,334
  3,626
  3,930
  4,249
  4,582
  4,930
  5,295
  5,676
  6,076
  6,495
  6,934
  7,393
  7,875
  8,380
  8,910
Earnings before tax, $m
  1,044
  1,197
  1,233
  1,275
  1,319
  1,366
  1,416
  1,469
  1,525
  1,584
  1,647
  1,715
  1,785
  1,861
  1,941
  2,026
  2,116
  2,212
  2,314
  2,422
  2,537
  2,659
  2,789
  2,927
  3,074
  3,229
  3,394
  3,570
  3,756
  3,954
  4,163
Tax expense, $m
  343
  323
  333
  344
  356
  369
  382
  397
  412
  428
  445
  463
  482
  502
  524
  547
  571
  597
  625
  654
  685
  718
  753
  790
  830
  872
  917
  964
  1,014
  1,067
  1,124
Net income, $m
  701
  873
  900
  931
  963
  997
  1,034
  1,072
  1,113
  1,156
  1,202
  1,252
  1,303
  1,358
  1,417
  1,479
  1,545
  1,615
  1,689
  1,768
  1,852
  1,941
  2,036
  2,137
  2,244
  2,357
  2,478
  2,606
  2,742
  2,886
  3,039

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  53,098
  54,317
  58,304
  62,447
  66,753
  71,229
  75,884
  80,727
  85,767
  91,015
  96,483
  102,182
  108,125
  114,325
  120,796
  127,555
  134,615
  141,995
  149,710
  157,780
  166,223
  175,060
  184,311
  193,998
  204,145
  214,776
  225,915
  237,591
  249,829
  262,661
  276,115
Adjusted assets (=assets-cash), $m
  53,098
  54,317
  58,304
  62,447
  66,753
  71,229
  75,884
  80,727
  85,767
  91,015
  96,483
  102,182
  108,125
  114,325
  120,796
  127,555
  134,615
  141,995
  149,710
  157,780
  166,223
  175,060
  184,311
  193,998
  204,145
  214,776
  225,915
  237,591
  249,829
  262,661
  276,115
Revenue / Adjusted assets
  0.000
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
Average production assets, $m
  66
  75
  80
  86
  92
  98
  104
  111
  118
  125
  133
  140
  149
  157
  166
  175
  185
  195
  206
  217
  228
  241
  253
  267
  280
  295
  310
  326
  343
  361
  379
Working capital, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total debt, $m
  3,929
  6,639
  10,140
  13,777
  17,558
  21,488
  25,575
  29,827
  34,252
  38,860
  43,661
  48,665
  53,882
  59,326
  65,008
  70,942
  77,141
  83,620
  90,394
  97,480
  104,893
  112,651
  120,774
  129,279
  138,188
  147,522
  157,303
  167,554
  178,299
  189,565
  201,378
Total liabilities, $m
  46,005
  47,690
  51,191
  54,828
  58,609
  62,539
  66,626
  70,878
  75,303
  79,911
  84,712
  89,716
  94,933
  100,377
  106,059
  111,993
  118,192
  124,671
  131,445
  138,531
  145,944
  153,702
  161,825
  170,330
  179,239
  188,573
  198,354
  208,605
  219,350
  230,616
  242,429
Total equity, $m
  7,093
  6,627
  7,113
  7,619
  8,144
  8,690
  9,258
  9,849
  10,464
  11,104
  11,771
  12,466
  13,191
  13,948
  14,737
  15,562
  16,423
  17,323
  18,265
  19,249
  20,279
  21,357
  22,486
  23,668
  24,906
  26,203
  27,562
  28,986
  30,479
  32,045
  33,686
Total liabilities and equity, $m
  53,098
  54,317
  58,304
  62,447
  66,753
  71,229
  75,884
  80,727
  85,767
  91,015
  96,483
  102,182
  108,124
  114,325
  120,796
  127,555
  134,615
  141,994
  149,710
  157,780
  166,223
  175,059
  184,311
  193,998
  204,145
  214,776
  225,916
  237,591
  249,829
  262,661
  276,115
Debt-to-equity ratio
  0.554
  1.000
  1.430
  1.810
  2.160
  2.470
  2.760
  3.030
  3.270
  3.500
  3.710
  3.900
  4.080
  4.250
  4.410
  4.560
  4.700
  4.830
  4.950
  5.060
  5.170
  5.270
  5.370
  5.460
  5.550
  5.630
  5.710
  5.780
  5.850
  5.920
  5.980
Adjusted equity ratio
  0.134
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122
  0.122

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  701
  873
  900
  931
  963
  997
  1,034
  1,072
  1,113
  1,156
  1,202
  1,252
  1,303
  1,358
  1,417
  1,479
  1,545
  1,615
  1,689
  1,768
  1,852
  1,941
  2,036
  2,137
  2,244
  2,357
  2,478
  2,606
  2,742
  2,886
  3,039
Depreciation, amort., depletion, $m
  27
  8
  9
  9
  10
  10
  11
  12
  12
  13
  14
  14
  15
  16
  17
  18
  18
  20
  21
  22
  23
  24
  25
  27
  28
  30
  31
  33
  34
  36
  38
Funds from operations, $m
  2,004
  882
  909
  940
  973
  1,008
  1,045
  1,084
  1,126
  1,170
  1,216
  1,266
  1,318
  1,374
  1,433
  1,496
  1,563
  1,634
  1,709
  1,790
  1,875
  1,965
  2,061
  2,163
  2,272
  2,387
  2,509
  2,639
  2,776
  2,922
  3,077
Change in working capital, $m
  538
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from operations, $m
  1,466
  879
  909
  940
  973
  1,008
  1,045
  1,084
  1,126
  1,170
  1,216
  1,266
  1,318
  1,374
  1,433
  1,496
  1,563
  1,634
  1,709
  1,790
  1,875
  1,965
  2,061
  2,163
  2,272
  2,387
  2,509
  2,639
  2,776
  2,922
  3,077
Maintenance CAPEX, $m
  0
  -7
  -7
  -8
  -9
  -9
  -10
  -10
  -11
  -12
  -13
  -13
  -14
  -15
  -16
  -17
  -18
  -18
  -20
  -21
  -22
  -23
  -24
  -25
  -27
  -28
  -30
  -31
  -33
  -34
  -36
New CAPEX, $m
  -45
  -1
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -15
  -15
  -16
  -17
  -18
  -18
Cash from investing activities, $m
  -2,826
  -8
  -12
  -14
  -15
  -15
  -16
  -17
  -18
  -19
  -21
  -21
  -22
  -24
  -25
  -26
  -28
  -28
  -31
  -32
  -34
  -35
  -37
  -38
  -41
  -43
  -45
  -47
  -50
  -52
  -54
Free cash flow, $m
  -1,360
  871
  896
  926
  959
  993
  1,029
  1,067
  1,108
  1,151
  1,196
  1,245
  1,296
  1,351
  1,409
  1,470
  1,536
  1,605
  1,679
  1,758
  1,842
  1,930
  2,025
  2,125
  2,231
  2,344
  2,464
  2,592
  2,727
  2,870
  3,022
Issuance/(repayment) of debt, $m
  733
  3,442
  3,500
  3,638
  3,781
  3,930
  4,087
  4,252
  4,425
  4,608
  4,801
  5,004
  5,218
  5,444
  5,682
  5,934
  6,199
  6,479
  6,774
  7,085
  7,413
  7,759
  8,122
  8,506
  8,909
  9,334
  9,781
  10,251
  10,746
  11,266
  11,813
Issuance/(repurchase) of shares, $m
  -108
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,155
  3,442
  3,500
  3,638
  3,781
  3,930
  4,087
  4,252
  4,425
  4,608
  4,801
  5,004
  5,218
  5,444
  5,682
  5,934
  6,199
  6,479
  6,774
  7,085
  7,413
  7,759
  8,122
  8,506
  8,909
  9,334
  9,781
  10,251
  10,746
  11,266
  11,813
Total cash flow (excl. dividends), $m
  -225
  4,313
  4,396
  4,564
  4,739
  4,923
  5,116
  5,319
  5,533
  5,759
  5,997
  6,248
  6,514
  6,794
  7,091
  7,404
  7,735
  8,084
  8,454
  8,843
  9,255
  9,689
  10,147
  10,630
  11,140
  11,678
  12,245
  12,842
  13,472
  14,136
  14,836
Retained Cash Flow (-), $m
  -958
  -492
  -486
  -505
  -525
  -546
  -568
  -591
  -615
  -640
  -667
  -695
  -725
  -756
  -790
  -825
  -861
  -900
  -941
  -985
  -1,030
  -1,078
  -1,129
  -1,182
  -1,238
  -1,297
  -1,359
  -1,424
  -1,493
  -1,565
  -1,641
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  3,821
  3,910
  4,058
  4,214
  4,377
  4,548
  4,728
  4,918
  5,118
  5,330
  5,553
  5,789
  6,038
  6,301
  6,580
  6,874
  7,184
  7,512
  7,859
  8,225
  8,611
  9,018
  9,448
  9,902
  10,381
  10,886
  11,418
  11,979
  12,571
  13,194
Discount rate, %
 
  6.90
  7.25
  7.61
  7.99
  8.39
  8.81
  9.25
  9.71
  10.19
  10.70
  11.24
  11.80
  12.39
  13.01
  13.66
  14.34
  15.06
  15.81
  16.61
  17.44
  18.31
  19.22
  20.18
  21.19
  22.25
  23.37
  24.53
  25.76
  27.05
  28.40
PV of cash for distribution, $m
 
  3,575
  3,399
  3,257
  3,099
  2,926
  2,741
  2,546
  2,343
  2,136
  1,928
  1,721
  1,518
  1,322
  1,137
  964
  805
  662
  535
  424
  330
  252
  188
  138
  98
  68
  46
  31
  20
  12
  7
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products. The company also provides reinsurance for mortality, morbidity, and lapse risk associated with products; and reinsurance for investment-related risks, as well as develops and markets technology solutions for the insurance industry. It serves life insurance companies in the United States, Latin America, Canada, Europe, the Middle East, Africa, and the Asia Pacific. Reinsurance Group of America, Incorporated was founded in 1973 and is headquartered in Chesterfield, Missouri.

FINANCIAL RATIOS  of  Reinsurance Group of America (RGA)

Valuation Ratios
P/E Ratio 11.6
Price to Sales 0.7
Price to Book 1.1
Price to Tangible Book
Price to Cash Flow 5.6
Price to Free Cash Flow 5.7
Growth Rates
Sales Growth Rate 10.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 87.5%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 55.4%
Total Debt to Equity 55.4%
Interest Coverage 8
Management Effectiveness
Return On Assets 1.6%
Ret/ On Assets - 3 Yr. Avg. 1.6%
Return On Total Capital 6.9%
Ret/ On T. Cap. - 3 Yr. Avg. 6.5%
Return On Equity 10.6%
Return On Equity - 3 Yr. Avg. 9.6%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 10.6%
EBITDA Margin - 3 Yr. Avg. 9.9%
Operating Margin 10.4%
Oper. Margin - 3 Yr. Avg. 9.8%
Pre-Tax Margin 9%
Pre-Tax Margin - 3 Yr. Avg. 8.5%
Net Profit Margin 6.1%
Net Profit Margin - 3 Yr. Avg. 5.7%
Effective Tax Rate 32.9%
Eff/ Tax Rate - 3 Yr. Avg. 32.6%
Payout Ratio 14.3%

RGA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RGA stock intrinsic value calculation we used $11560 million for the last fiscal year's total revenue generated by Reinsurance Group of America. The default revenue input number comes from 2016 income statement of Reinsurance Group of America. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our RGA stock valuation model: a) initial revenue growth rate of 7.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.9%, whose default value for RGA is calculated based on our internal credit rating of Reinsurance Group of America, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Reinsurance Group of America.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of RGA stock the variable cost ratio is equal to 72.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $1999 million in the base year in the intrinsic value calculation for RGA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.7% for Reinsurance Group of America.

Corporate tax rate of 27% is the nominal tax rate for Reinsurance Group of America. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the RGA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for RGA are equal to 0.6%.

Life of production assets of 10 years is the average useful life of capital assets used in Reinsurance Group of America operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for RGA is equal to 0%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $6135 million for Reinsurance Group of America - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 64.348 million for Reinsurance Group of America is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Reinsurance Group of America at the current share price and the inputted number of shares is $8.1 billion.


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COMPANY NEWS

▶ Reinsurance Group of America to Host Investor Day   [May-10-17 04:35PM  Business Wire]
▶ Reinsurance Group misses 1Q profit forecasts   [Apr-27-17 06:22PM  Associated Press]
▶ Reinsurance Group of America to Host Investor Day   [Feb-22-17 05:00PM  Business Wire]
▶ Reinsurance Group beats 4Q profit forecasts   [Jan-30-17 04:40PM  Associated Press]
▶ RGA confirms Manning as new CEO   [Dec-22-16 02:55PM  at bizjournals.com]
▶ Should You Buy Lennox International Inc. (LII)?   [Dec-05-16 06:54AM  at Insider Monkey]
▶ Is Reinsurance Group of America Inc (RGA) A Good Stock To Buy?   [Dec-02-16 03:16AM  at Insider Monkey]
▶ RGA Elects New Member to Board of Directors   [04:01PM  Business Wire]
▶ New RGA Report Identifies Most Expensive Specialty Drugs   [Aug-23-16 08:30AM  Business Wire]
▶ [$$] Chernova's Take: Hold Your Horses, Insurance Startups   [Aug-16-16 07:30AM  at The Wall Street Journal]
Stock chart of RGA Financial statements of RGA Annual reports of RGA
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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