NYSE : RLI
RLI Corp. — Financial statements
Financials · Insurance - Property & Casualty · United States
Last price 64.62 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 5.93B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 1.66B | 1.61B | 1.53B | 1.29B | 1.14B | 980.90M |
| Total Interest & Dividend Income | 177.38M | 159.74M | 142.28M | 120.38M | 86.08M | 68.86M |
| Gain (Loss) on Sale of Investments | 104.92M | 108.36M | 101.70M | 97.31M | 467.48M | 129.48M |
| Total Revenue | 1.94B | 1.88B | 1.77B | 1.51B | 1.70B | 1.18B |
| Policy Benefits | 760.62M | 725.96M | 739.25M | 604.41M | 514.38M | 456.60M |
| Policy Acquisition & Underwriting Costs | 531.16M | 508.39M | 464.04M | 418.32M | 369.63M | 300.46M |
| Selling, General & Administrative | 137.30M | 132.84M | 128.34M | 114.30M | 95.11M | 90.24M |
| Other Operating Expenses | 17.01M | |||||
| Total Operating Expenses | 1.43B | 1.37B | 1.33B | 1.14B | 979.12M | 864.31M |
| Operating Income | 513.01M | 515.26M | 438.75M | 374.96M | 718.87M | 314.94M |
| Interest Expense | -12.30M | -5.36M | -6.33M | -7.30M | -8.05M | -7.68M |
| Earnings From Equity Investments | -9.00M | -3.92M | -4.87M | 9.61M | 9.85M | 37.06M |
| Pretax Income | 491.71M | 505.98M | 427.55M | 377.26M | 720.68M | 344.32M |
| Income Tax Expense | 96.61M | 102.64M | 81.77M | 72.65M | 137.27M | 64.97M |
| Net Income | 395.10M | 403.34M | 345.78M | 304.61M | 583.41M | 279.35M |
| Net Income to Common | 395.10M | 403.34M | 345.78M | 304.61M | 583.41M | 279.35M |
| Shares Outstanding (Basic) | 91.88M | 91.83M | 91.53M | 91.19M | 90.73M | 90.46M |
| Shares Outstanding (Diluted) | 92.24M | 92.39M | 92.45M | 92.16M | 91.59M | 91.42M |
| EPS (Basic) | 4.30 | 4.39 | 3.78 | 3.34 | 6.43 | 3.09 |
| EPS (Diluted) | 4.28 | 4.37 | 3.74 | 3.31 | 6.37 | 3.06 |
| Free Cash Flow | 531.54M | 608.70M | 555.51M | 458.34M | 244.56M | 376.60M |
| Free Cash Flow Per Share | 5.76 | 6.59 | 6.01 | 4.97 | 2.67 | 4.12 |
| Dividend Per Share | 0.68 | 0.63 | 0.57 | 0.54 | 0.52 | 0.49 |
| Operating Margin | 26.41% | 27.37% | 24.78% | 24.80% | 42.34% | 26.71% |
| Profit Margin | 20.34% | 21.43% | 19.53% | 20.15% | 34.36% | 23.69% |
| Free Cash Flow Margin | 27.37% | 32.34% | 31.38% | 30.31% | 14.40% | 31.94% |
| EBITDA | 521.33M | 523.39M | 446.42M | 383.50M | 726.85M | 322.33M |
| EBITDA Margin | 26.84% | 27.80% | 25.22% | 25.36% | 42.81% | 27.33% |
| D&A For EBITDA | 8.31M | 8.13M | 7.66M | 8.54M | 7.98M | 7.39M |
| EBIT | 513.01M | 515.26M | 438.75M | 374.96M | 718.87M | 314.94M |
| EBIT Margin | 26.41% | 27.37% | 24.78% | 24.80% | 42.34% | 26.71% |
| Effective Tax Rate | 19.65% | 20.29% | 19.13% | 19.26% | 19.05% | 18.87% |
| Revenue as Reported | 1.94B | 1.88B | 1.77B | 1.51B | 1.70B | 1.18B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 3.60B | 3.43B | 3.18B | 2.86B | 2.67B | 2.41B |
| Investments in Equity & Preferred Securities | 1.02B | 977.40M | 814.67M | 670.01M | 556.66M | 801.69M |
| Other Investments | 290.88M | 154.84M | 110.85M | 171.00M | 84.15M | 33.90M |
| Total Investments | 4.92B | 4.56B | 4.10B | 3.70B | 3.31B | 3.25B |
| Cash & Equivalents | 46.21M | 51.56M | 39.79M | 36.42M | 22.82M | 88.80M |
| Reinsurance Recoverable | 727.04M | 746.80M | 755.42M | 757.35M | 740.09M | 608.09M |
| Other Receivables | 263.94M | 242.25M | 258.85M | 245.27M | 210.76M | 184.78M |
| Deferred Policy Acquisition Cost | 191.39M | 172.65M | 166.21M | 146.57M | 127.86M | 103.55M |
| Property, Plant & Equipment | 59.82M | 53.85M | 57.19M | 60.38M | 62.34M | 66.93M |
| Goodwill | 46.06M | 46.06M | 46.06M | 46.06M | 46.06M | 46.06M |
| Other Intangible Assets | 7.50M | 7.50M | 7.50M | 7.50M | 7.50M | 7.50M |
| Long-Term Deferred Tax Assets | 9.51M | 7.79M | 15.87M | 40.27M | ||
| Other Long-Term Assets | 178.47M | 282.24M | 188.66M | 167.94M | 201.61M | 157.11M |
| Total Assets | 6.45B | 6.16B | 5.63B | 5.18B | 4.77B | 4.51B |
| Accrued Expenses | 110.05M | 128.60M | 124.24M | 108.88M | 94.87M | 98.27M |
| Insurance & Annuity Liabilities | 3.00B | 2.89B | 2.69B | 2.45B | 2.32B | 2.04B |
| Unearned Premiums | 1.07B | 991.64M | 984.14M | 892.33M | 785.09M | 680.44M |
| Reinsurance Payable | 30.54M | 40.58M | 44.68M | 71.51M | 61.10M | 42.85M |
| Current Portion of Long-Term Debt | 100.00M | 100.00M | 100.00M | 199.86M | ||
| Current Portion of Leases | 1.13M | 4.33M | ||||
| Current Income Taxes Payable | 1.84M | 29.72M | 749.00K | 3.76M | ||
| Long-Term Debt | 297.04M | 199.68M | ||||
| Long-Term Leases | 19.45M | 10.42M | 15.71M | 14.88M | 14.50M | 16.91M |
| Long-Term Deferred Tax Liabilities | 21.77M | 83.51M | ||||
| Other Long-Term Liabilities | 222.40M | 169.41M | 143.84M | 129.33M | 118.67M | 113.73M |
| Total Liabilities | 4.75B | 4.38B | 4.11B | 3.77B | 3.59B | 3.28B |
| Common Stock | 1.38M | 1.38M | 1.38M | 1.37M | 684.00K | 682.00K |
| Additional Paid-In Capital | 386.58M | 376.68M | 367.64M | 361.66M | 352.39M | 343.74M |
| Retained Earnings | 1.95B | 1.88B | 1.72B | 1.61B | 1.45B | 1.23B |
| Treasury Stock | -424.67M | -407.08M | -406.50M | -406.54M | -405.01M | -402.64M |
| Comprehensive Income & Other | -220.21M | -73.99M | -160.22M | -152.76M | -217.06M | 59.47M |
| Shareholders' Equity | 1.70B | 1.78B | 1.52B | 1.41B | 1.18B | 1.23B |
| Total Liabilities & Equity | 6.45B | 6.16B | 5.63B | 5.18B | 4.77B | 4.51B |
| Filing Date Shares Outstanding | 91.73M | 91.92M | 91.76M | 91.32M | 91.03M | 90.58M |
| Total Common Shares Outstanding | 91.73M | 91.88M | 91.74M | 91.28M | 90.94M | 90.58M |
| Total Debt | 317.62M | 114.75M | 115.71M | 114.88M | 214.36M | 216.58M |
| Net Cash (Debt) | -271.41M | -63.19M | -75.92M | -78.46M | -191.54M | -127.78M |
| Net Cash Per Share | -2.94 | -0.68 | -0.82 | -0.85 | -2.09 | -1.40 |
| Book Value Per Share | 18.49 | 19.35 | 16.59 | 15.49 | 12.95 | 13.57 |
| Tangible Book Value | 1.64B | 1.72B | 1.47B | 1.36B | 1.12B | 1.18B |
| Tangible Book Value Per Share | 17.91 | 18.77 | 16.01 | 14.90 | 12.36 | 12.98 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 395.10M | 403.34M | 345.78M | 304.61M | 583.41M | 279.35M |
| Depreciation & Amortization | 8.31M | 8.13M | 7.66M | 8.54M | 7.98M | 7.39M |
| Gain (Loss) on Sale of Investments | -108.36M | -108.36M | -101.70M | -97.31M | -467.48M | -129.48M |
| Change in Accounts Receivable | 18.31M | 18.31M | -9.33M | -31.70M | -22.22M | 7.35M |
| Reinsurance Recoverable | 8.63M | 8.63M | 1.92M | -17.26M | -132.00M | -164.36M |
| Change in Unearned Revenue | 7.50M | 7.50M | 91.81M | 107.24M | 104.64M | 94.06M |
| Change in Income Taxes | 28.97M | 28.97M | -3.01M | 7.29M | -6.62M | 4.05M |
| Change in Insurance Reserves / Liabilities | 193.35M | 193.35M | 247.44M | 130.39M | 272.08M | 293.51M |
| Change in Other Net Operating Assets | 32.80M | 32.80M | -5.66M | 37.71M | -3.33M | 11.57M |
| Other Operating Activities | -38.51M | 28.18M | 23.78M | 32.66M | -70.11M | 33.07M |
| Operating Cash Flow | 539.48M | 614.22M | 560.22M | 464.26M | 250.45M | 384.90M |
| Capital Expenditures | -7.94M | -5.52M | -4.71M | -5.91M | -5.89M | -8.31M |
| Sale of Property, Plant & Equipment | 13.00K | 27.00K | 375.00K | |||
| Investment in Securities | -291.89M | -357.93M | -308.76M | -195.95M | 57.44M | -262.69M |
| Other Investing Activities | 1.18M | 1.32M | -5.41M | -9.97M | -3.04M | -3.82M |
| Investing Cash Flow | -298.65M | -362.13M | -318.87M | -211.80M | 48.88M | -274.83M |
| Long-Term Debt Issued | 50.00M | 73.00M | 100.00M | 50.00M | ||
| Total Debt Repaid | -150.00M | -50.00M | -73.00M | -200.00M | ||
| Net Debt Issued (Repaid) | 196.87M | -100.00M | 50.00M | |||
| Issuance of Common Stock | 4.41M | 1.24M | 1.25M | 1.84M | ||
| Common Dividends Paid | -430.20M | -241.56M | -235.66M | -48.83M | -46.80M | -135.33M |
| Other Financing Activities | -2.33M | -465.00K | ||||
| Financing Cash Flow | -247.24M | -240.32M | -237.98M | -238.85M | -365.31M | -83.49M |
| Net Cash Flow | -6.41M | 11.78M | 3.37M | 13.61M | -65.99M | 26.59M |
| Free Cash Flow | 531.54M | 608.70M | 555.51M | 458.34M | 244.56M | 376.60M |
| Free Cash Flow Margin | 27.37% | 32.34% | 31.38% | 30.31% | 14.40% | 31.94% |
| Free Cash Flow Per Share | 5.76 | 6.59 | 6.01 | 4.97 | 2.67 | 4.12 |
| Levered Free Cash Flow | 291.16M | 1.16B | 406.91M | 226.37M | 380.63M | 155.73M |
| Unlevered Free Cash Flow | 298.84M | 1.16B | 410.86M | 230.93M | 385.66M | 160.53M |
| Cash Interest Paid | 3.00M | 3.00M | 4.00M | 8.00M | 7.00M | 7.00M |
| Cash Income Tax Paid | 60.65M | 60.65M | 67.56M | 50.08M | 190.00M | 39.00M |
| Change in Working Capital | 279.01M | 279.01M | 276.71M | 225.36M | 206.49M | 231.63M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 6.03B | 5.88B | 7.55B | 6.07B | 5.96B | 5.07B |
| Enterprise Value | 6.30B | 5.94B | 7.61B | 6.17B | 5.45B | 5.15B |
| PE Ratio | 15.37 | 14.57 | 21.84 | 19.94 | 10.21 | 18.16 |
| PS Ratio | 3.08 | 3.12 | 4.27 | 4.02 | 3.51 | 4.30 |
| PB Ratio | 3.53 | 3.30 | 4.96 | 4.30 | 5.06 | 4.13 |
| P/FCF Ratio | 11.26 | 9.65 | 13.60 | 13.25 | 24.36 | 13.47 |
| P/OCF Ratio | 11.09 | 9.57 | 13.48 | 13.08 | 23.79 | 13.18 |
| EV/Sales Ratio | 3.22 | 3.15 | 4.30 | 4.08 | 3.21 | 4.37 |
| EV/EBITDA Ratio | 12.00 | 11.34 | 17.04 | 16.08 | 7.50 | 15.98 |
| EV/EBIT Ratio | 12.19 | 11.52 | 17.34 | 16.45 | 7.58 | 16.35 |
| EV/FCF Ratio | 11.77 | 9.75 | 13.70 | 13.46 | 22.28 | 13.68 |
| Debt / Equity Ratio | 0.19 | 0.07 | 0.08 | 0.08 | 0.18 | 0.18 |
| Debt / EBITDA Ratio | 0.60 | 0.22 | 0.26 | 0.29 | 0.29 | 0.66 |
| Debt / FCF Ratio | 0.60 | 0.19 | 0.21 | 0.25 | 0.88 | 0.57 |
| Net Debt / Equity Ratio | 0.16 | 0.04 | 0.05 | 0.06 | 0.16 | 0.10 |
| Net Debt / EBITDA Ratio | 0.52 | 0.12 | 0.17 | 0.20 | 0.26 | 0.40 |
| Net Debt / FCF Ratio | 0.51 | 0.10 | 0.14 | 0.17 | 0.78 | 0.34 |
| Quick Ratio | 0.44 | 0.18 | 0.28 | 0.33 | 0.22 | 0.31 |
| Current Ratio | 1.06 | 0.55 | 0.90 | 1.00 | 0.89 | 1.07 |
| Asset Turnover | 0.31 | 0.32 | 0.33 | 0.30 | 0.37 | 0.28 |
| Return on Equity (ROE) | 22.13% | 24.44% | 23.56% | 23.51% | 48.48% | 23.62% |
| Return on Assets (ROA) | 5.05% | 5.46% | 5.07% | 4.71% | 9.69% | 4.66% |
| Return on Invested Capital (ROIC) | 20.18% | 23.27% | 22.41% | 20.73% | 41.02% | 18.58% |
| Earnings Yield | 6.51% | 6.86% | 4.58% | 5.01% | 9.79% | 5.51% |
| FCF Yield | 8.88% | 10.36% | 7.36% | 7.55% | 4.11% | 7.42% |
| Dividend Yield | 4.17% | 0.98% | 0.69% | 0.81% | 0.79% | 0.88% |
| Payout Ratio | 109.35% | 59.89% | 68.15% | 16.03% | 8.02% | 48.44% |
| Buyback Yield / Dilution | 0.30% | 0.07% | -0.32% | -0.62% | -0.18% | -0.74% |
| Total Shareholder Return | 4.47% | 1.05% | 0.37% | 0.19% | 0.61% | 0.14% |