VOYA
Voya Financial, Inc.
Financial - Conglomerates
Market Cap$7.39B
5Y Perf.+76.9%
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Stock Comparison
VOYA vs RGA
Revenue, margins, valuation, and 5-year total return — side by side.
RGA
Reinsurance Group of America, Incorporated
Insurance - Reinsurance
Market Cap$13.95B
5Y Perf.+134.5%
VOYA vs RGA — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | VOYA | RGA |
|---|---|---|
| Industry | Financial - Conglomerates | Insurance - Reinsurance |
| Market Cap | $7.39B | $13.95B |
| Revenue (TTM) | $7.50B | $23.41B |
| Net Income (TTM) | $693M | $1.18B |
| Gross Margin | 51.8% | 16.8% |
| Operating Margin | 3.5% | 6.6% |
| Forward P/E | 8.3x | 8.1x |
| Total Debt | $2.10B | $5.71B |
| Cash & Equiv. | $1.23B | $4.17B |
VOYA vs RGA — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
VOYA
RGA
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Voya Financial, Inc. (VOYA) | 100 | 176.9 | +76.9% |
| Reinsurance Group o… (RGA) | 100 | 234.5 | +134.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: VOYA vs RGA
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: RGA leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Voya Financial, Inc. is the stronger pick specifically for profitability and margin quality and dividend income and shareholder returns. As sector peers, any of these can serve as alternatives in the same allocation.
VOYA
Voya Financial, Inc.
The Banking Pick
VOYA is the clearest fit if your priority is long-term compounding and valuation efficiency.
- 189.7% 10Y total return vs RGA's 154.2%
- PEG 0.49 vs RGA's 0.53
- 8.7% margin vs RGA's 5.0%
Best for: long-term compounding and valuation efficiency
RGA
Reinsurance Group of America, Incorporated
The Insurance Pick
RGA carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 18 yrs, beta 0.72, yield 1.7%
- Rev growth 3.4%, EPS growth 64.9%, 3Y rev CAGR 12.8%
- Lower volatility, beta 0.72, Low D/E 42.1%
Best for: income & stability and growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | RGA | 3.4% revenue growth vs VOYA's -6.9% |
| Value | RGA | Lower P/E (8.1x vs 8.3x) |
| Quality / Margins | VOYA | 8.7% margin vs RGA's 5.0% |
| Stability / Safety | RGA | Beta 0.72 vs VOYA's 1.17 |
| Dividends | VOYA | 2.3% yield, 7-year raise streak, vs RGA's 1.7% |
| Momentum (1Y) | VOYA | +24.1% vs RGA's +8.6% |
| Efficiency (ROA) | RGA | 0.8% ROA vs VOYA's 0.4%, ROIC 8.3% vs 2.1% |
VOYA vs RGA — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2024
FY 2024
VOYA vs RGA — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLRGALAGGINGVOYA
VOYAVoya Financial, Inc.
0leads
RGAReinsurance Group of …
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6 Total Categories
CATEGORYLEADERvs VOYAMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
RGA3/5
Valuation MetricsMultiples, price ratios, and targets
RGA7/7
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
RGA5/9
Total Returns1Y, 3Y, 5Y total returns with dividends
Tied
—
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
RGA leads this category, winning 3 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
RGA is the larger business by revenue, generating $23.4B annually — 3.1x VOYA's $7.5B. Profitability is closely matched — net margins range from 8.7% (VOYA) to 5.0% (RGA).
| Metric | VOYAVoya Financial, I… | RGAReinsurance Group… |
|---|---|---|
| RevenueTrailing 12 months | $7.5B | $23.4B |
| EBITDAEarnings before interest/tax | $1.1B | $1.9B |
| Net IncomeAfter-tax profit | $693M | $1.2B |
| Free Cash FlowCash after capex | $1.4B | $4.1B |
| Gross MarginGross profit ÷ Revenue | +51.8% | +16.8% |
| Operating MarginEBIT ÷ Revenue | +3.5% | +6.6% |
| Net MarginNet income ÷ Revenue | +8.7% | +5.0% |
| FCF MarginFCF ÷ Revenue | +17.2% | +17.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | +21.9% |
| EPS Growth (YoY)Latest quarter vs prior year | +41.5% | +2.1% |
RGA leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
RGA leads this category, winning 7 of 7 comparable metrics.
Valuation Metrics
At 12.0x trailing earnings, RGA trades at a 5% valuation discount to VOYA's 12.6x P/E. Adjusting for growth (PEG ratio), RGA offers better value at 0.53x vs VOYA's 0.75x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | VOYAVoya Financial, I… | RGAReinsurance Group… |
|---|---|---|
| Market CapShares × price | $7.4B | $14.0B |
| Enterprise ValueMkt cap + debt − cash | $8.3B | $15.5B |
| Trailing P/EPrice ÷ TTM EPS | 12.61x | 12.03x |
| Forward P/EPrice ÷ next-FY EPS est. | 8.34x | 8.13x |
| PEG RatioP/E ÷ EPS growth rate | 0.75x | 0.53x |
| EV / EBITDAEnterprise value multiple | 31.68x | 9.79x |
| Price / SalesMarket cap ÷ Revenue | 0.99x | 0.61x |
| Price / BookPrice ÷ Book value/share | 1.10x | 1.05x |
| Price / FCFMarket cap ÷ FCF | 5.74x | 3.41x |
RGA leads this category, winning 7 of 7 comparable metrics.
Profitability & Efficiency
RGA leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
VOYA delivers a 10.1% return on equity — every $100 of shareholder capital generates $10 in annual profit, vs $9 for RGA. VOYA carries lower financial leverage with a 0.30x debt-to-equity ratio, signaling a more conservative balance sheet compared to RGA's 0.42x. On the Piotroski fundamental quality scale (0–9), RGA scores 7/9 vs VOYA's 6/9, reflecting strong financial health.
| Metric | VOYAVoya Financial, I… | RGAReinsurance Group… |
|---|---|---|
| ROE (TTM)Return on equity | +10.1% | +9.4% |
| ROA (TTM)Return on assets | +0.4% | +0.8% |
| ROICReturn on invested capital | +2.1% | +8.3% |
| ROCEReturn on capital employed | +0.2% | +1.1% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 7 |
| Debt / EquityFinancial leverage | 0.30x | 0.42x |
| Net DebtTotal debt minus cash | $876M | $1.5B |
| Cash & Equiv.Liquid assets | $1.2B | $4.2B |
| Total DebtShort + long-term debt | $2.1B | $5.7B |
| Interest CoverageEBIT ÷ Interest expense | 5.14x | 5.21x |
RGA leads this category, winning 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
Evenly matched — VOYA and RGA each lead in 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in RGA five years ago would be worth $18,166 today (with dividends reinvested), compared to $12,316 for VOYA. Over the past 12 months, VOYA leads with a +24.1% total return vs RGA's +8.6%. The 3-year compound annual growth rate (CAGR) favors RGA at 14.6% vs VOYA's 6.2% — a key indicator of consistent wealth creation.
| Metric | VOYAVoya Financial, I… | RGAReinsurance Group… |
|---|---|---|
| YTD ReturnYear-to-date | +6.0% | +5.1% |
| 1-Year ReturnPast 12 months | +24.1% | +8.6% |
| 3-Year ReturnCumulative with dividends | +19.9% | +50.6% |
| 5-Year ReturnCumulative with dividends | +23.2% | +81.7% |
| 10-Year ReturnCumulative with dividends | +189.7% | +154.2% |
| CAGR (3Y)Annualised 3-year return | +6.2% | +14.6% |
Evenly matched — VOYA and RGA each lead in 3 of 6 comparable metrics.
Risk & Volatility
Evenly matched — VOYA and RGA each lead in 1 of 2 comparable metrics.
Risk & Volatility
RGA is the less volatile stock with a 0.72 beta — it tends to amplify market swings less than VOYA's 1.17 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | VOYAVoya Financial, I… | RGAReinsurance Group… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.17x | 0.72x |
| 52-Week HighHighest price in past year | $84.00 | $229.21 |
| 52-Week LowLowest price in past year | $64.50 | $165.52 |
| % of 52W HighCurrent price vs 52-week peak | +94.9% | +92.8% |
| RSI (14)Momentum oscillator 0–100 | 63.9 | 60.5 |
| Avg Volume (50D)Average daily shares traded | 1.2M | 299K |
Evenly matched — VOYA and RGA each lead in 1 of 2 comparable metrics.
Analyst Outlook
Evenly matched — VOYA and RGA each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates VOYA as "Buy" and RGA as "Buy". Consensus price targets imply 13.4% upside for VOYA (target: $90) vs 10.3% for RGA (target: $235). For income investors, VOYA offers the higher dividend yield at 2.30% vs RGA's 1.69%.
| Metric | VOYAVoya Financial, I… | RGAReinsurance Group… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $90.33 | $234.80 |
| # AnalystsCovering analysts | 26 | 22 |
| Dividend YieldAnnual dividend ÷ price | +2.3% | +1.7% |
| Dividend StreakConsecutive years of raises | 7 | 18 |
| Dividend / ShareAnnual DPS | $1.84 | $3.60 |
| Buyback YieldShare repurchases ÷ mkt cap | +2.7% | +1.2% |
Evenly matched — VOYA and RGA each lead in 1 of 2 comparable metrics.
Key Takeaway
RGA leads in 3 of 6 categories — strongest in Income & Cash Flow and Valuation Metrics. 3 categories are tied.
Best OverallReinsurance Group of Americ… (RGA)Leads 3 of 6 categories
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VOYA vs RGA: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is VOYA or RGA a better buy right now?
For growth investors, Reinsurance Group of America, Incorporated (RGA) is the stronger pick with 3.
4% revenue growth year-over-year, versus -6. 9% for Voya Financial, Inc. (VOYA). Reinsurance Group of America, Incorporated (RGA) offers the better valuation at 12. 0x trailing P/E (8. 1x forward), making it the more compelling value choice. Analysts rate Voya Financial, Inc. (VOYA) a "Buy" — based on 26 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — VOYA or RGA?
On trailing P/E, Reinsurance Group of America, Incorporated (RGA) is the cheapest at 12.
0x versus Voya Financial, Inc. at 12. 6x. On forward P/E, Reinsurance Group of America, Incorporated is actually cheaper at 8. 1x.
03Which is the better long-term investment — VOYA or RGA?
Over the past 5 years, Reinsurance Group of America, Incorporated (RGA) delivered a total return of +81.
7%, compared to +23. 2% for Voya Financial, Inc. (VOYA). Over 10 years, the gap is even starker: VOYA returned +189. 7% versus RGA's +154. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — VOYA or RGA?
By beta (market sensitivity over 5 years), Reinsurance Group of America, Incorporated (RGA) is the lower-risk stock at 0.
72β versus Voya Financial, Inc. 's 1. 17β — meaning VOYA is approximately 62% more volatile than RGA relative to the S&P 500. On balance sheet safety, Voya Financial, Inc. (VOYA) carries a lower debt/equity ratio of 30% versus 42% for Reinsurance Group of America, Incorporated — giving it more financial flexibility in a downturn.
05Which is growing faster — VOYA or RGA?
By revenue growth (latest reported year), Reinsurance Group of America, Incorporated (RGA) is pulling ahead at 3.
4% versus -6. 9% for Voya Financial, Inc. (VOYA). On earnings-per-share growth, the picture is similar: Reinsurance Group of America, Incorporated grew EPS 64. 9% year-over-year, compared to 2. 4% for Voya Financial, Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — VOYA or RGA?
Voya Financial, Inc.
(VOYA) is the more profitable company, earning 8. 7% net margin versus 5. 2% for Reinsurance Group of America, Incorporated — meaning it keeps 8. 7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: RGA leads at 6. 8% versus 3. 5% for VOYA. At the gross margin level — before operating expenses — VOYA leads at 51. 8%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is VOYA or RGA more undervalued right now?
On forward earnings alone, Reinsurance Group of America, Incorporated (RGA) trades at 8.
1x forward P/E versus 8. 3x for Voya Financial, Inc. — 0. 2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for VOYA: 13. 4% to $90. 33.
08Which pays a better dividend — VOYA or RGA?
All stocks in this comparison pay dividends.
Voya Financial, Inc. (VOYA) offers the highest yield at 2. 3%, versus 1. 7% for Reinsurance Group of America, Incorporated (RGA).
09Is VOYA or RGA better for a retirement portfolio?
For long-horizon retirement investors, Reinsurance Group of America, Incorporated (RGA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
72), 1. 7% yield, +154. 2% 10Y return). Both have compounded well over 10 years (RGA: +154. 2%, VOYA: +189. 7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between VOYA and RGA?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(VOYA: -6.9% · RGA: 21.9%)Net Margin>
%
(VOYA: 8.7% · RGA: 5.0%)P/E Ratio<
x
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