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RLI

RLI NYSE Property & Casualty Insurance Financials FY2016–FY2025

RLI's revenue rose 6.3% to $1.9 billion in fiscal 2025. Its net margin was 21.4%, up from 19.5% a year earlier. Free cash flow was $609 million, up 9.6%. It paid out $242 million in dividends and buybacks, 40% of free cash flow.

Last close · Oct 23, 2026

$64.83

3.3%
Value it Compare
Revenue Total sales reported in the income statement.
$1.9B
6.3% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$403M
16.6%
Free cash flow Cash from operations minus capital spending.
$609M
9.6%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$6.0B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
15.1x
On $4.29 EPS (TTM)

About these figures. Share counts and per-share figures for earlier years are restated for a stock split (2-for-1), so every year is on today's share basis.

What RLI does

No business description yet.

Legal name
RLI Corp
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001104659-26-018013
0000084246

Revenue and margins

RLI had $1.9B of revenue in fiscal 2025, up 6.3% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 14.5% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $609M in fiscal 2025, 32.3% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

RLI returned $242M to shareholders in fiscal 2025, 40% of free cash flow. The diluted share count fell 0.1%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value RLI yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of — and divides by 92.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 15.1x · peers 11.5x · sector 13.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably RLI can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $88.8M$22.8M$36.4M$39.8M$51.6M
Debt incl. finance leases $200M$200M$200M——
Net debt / EBITDA 0.3x0.2x0.4x——
Debt / equity 0.2x0.2x0.1x——
Interest coverage 45.9x90.6x52.7x68.5x95.4x
Total assets $4.5B$4.8B$5.2B$5.6B$6.2B
Total liabilities $3.3B$3.6B$3.8B$4.1B$4.4B
Shareholders' equity $1.2B$1.2B$1.4B$1.5B$1.8B
Net debt (− = net cash) $111M$177M$164M——

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$1.3M

4 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

DateInsiderTradeSharesPriceValueFiling
Jun 1, 2026 Clark C KelloggDirector Bought 3,000 $50.90 $0.2M Form 4
May 28, 2026 David B. DuclosDirector Bought 2,500 $51.99 $0.1M Form 4
May 27, 2026 Craig W KliethermesChief Executive Officer Bought 2,000 $52.00 $0.1M Form 4
May 27, 2026 Jennifer L KlobnakChief Operating Officer Bought 2,000 $52.72 $0.1M Form 4
May 21, 2026 Craig W KliethermesChief Executive Officer Bought 5,000 $52.00 $0.3M Form 4
May 19, 2026 Jennifer L KlobnakChief Operating Officer Bought 2,000 $53.42 $0.1M Form 4
Jan 23, 2026 Craig W KliethermesChief Executive Officer Bought 5,000 $57.45 $0.3M Form 4
Jan 23, 2026 Jennifer L KlobnakChief Operating Officer Bought 2,000 $57.99 $0.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ — —
Current ratio rose — — —
Share count didn't rise ✕ ✕ ✓
Gross margin rose — — —
Revenue rose relative to assets ✕ ✓ ✕
F-score — / 9— / 9— / 9
Accruals ratio −3.2%−4.0%−3.6%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
RLI RLI $6.0B 6.3% — 32.3% — 15.1x —
Kinsale Capital Group KNSL $8.2B 18.0% — 52.8% 28.7% 15.9x — Compare →
Selective Insurance Group SIGI $5.8B 9.8% — 22.4% 14.6% 11.6x — Compare →
Hanover Insurance THG $8.5B 5.7% 14.2% 17.8% 21.3% 11.4x — Compare →
Old Republic International ORI $9.6B 11.0% — — — 8.5x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $816M $797M $818M $1.0B $984M $1.2B $1.7B $1.5B $1.8B $1.9B
Interest expense $7.4M $7.4M $7.4M $7.6M $7.6M $7.7M $8.0M $7.3M $6.3M $5.4M
Pretax income $157M $84.6M $67.6M $233M $190M $344M $721M $377M $428M $506M
Income tax $42.2M −$20.4M $3.4M $41.1M $32.8M $65.0M $137M $72.7M $81.8M $103M
Net income $115M $105M $64.2M $192M $157M $279M $583M $305M $346M $403M
Diluted EPS $1.29 $1.18 $0.71 $2.12 $1.73 $3.06 $6.37 $3.31 $3.74 $4.37
Diluted shares 0.09B 0.09B 0.09B 0.09B 0.09B 0.09B 0.09B 0.09B 0.09B 0.09B
Cash flow
Cash from operations $175M $198M $217M $277M $263M $385M $250M $464M $560M $614M
Capital expenditure $16.2M $9.2M $6.1M $7.0M $5.8M $8.3M $5.9M $5.9M $4.7M $5.5M
Free cash flow $158M $188M $211M $270M $257M $377M $245M $458M $556M $609M
Depreciation and amortization $7.3M $7.6M $7.4M $8.6M $7.8M $7.6M $8.0M $8.5M $7.7M $8.1M
Stock-based compensation $4.1M $4.4M $4.5M $4.5M — — — — — —
Acquisitions $0.8M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends paid $123M $114M $83.1M $85.6M $87.9M $135M $365M $140M $236M $242M
Dividends and buybacks $122M $114M $83.1M $85.6M $87.9M $135M $365M $140M $236M $242M
Balance sheet
Cash and short-term investments $23.3M $34.3M $41.7M $46.2M $62.2M $88.8M $22.8M $36.4M $39.8M $51.6M
Total debt $149M $149M $149M $149M $150M $200M $200M $200M — —
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $54.6M $55.8M $54.7M $53.1M $51.4M $52.2M $49.6M $46.7M $43.2M $40.7M
Total assets $2.8B $2.9B $3.1B $3.5B $3.9B $4.5B $4.8B $5.2B $5.6B $6.2B
Total liabilities $2.0B $2.1B $2.3B $2.6B $2.8B $3.3B $3.6B $3.8B $4.1B $4.4B
Shareholders' equity $824M $854M $807M $995M $1.1B $1.2B $1.2B $1.4B $1.5B $1.8B
Margins
EBITDA margin 21.1% 12.5% 10.1% 24.8% 20.9% 30.5% 43.4% 26.0% 24.9% 27.6%
Net margin 14.1% 13.2% 7.8% 19.1% 16.0% 23.7% 34.4% 20.2% 19.5% 21.4%
FCF margin 19.4% 23.6% 25.8% 26.9% 26.2% 31.9% 14.4% 30.3% 31.4% 32.3%
Returns
Return on capital 12.6% 9.6% 7.6% 19.7% 14.1% 22.3% 43.8% 21.2% — —
Return on equity 14.0% 12.5% 7.7% 21.3% 14.7% 23.6% 48.5% 23.5% 23.6% 24.4%
Return on assets 4.2% 3.7% 2.1% 5.8% 4.2% 6.6% 12.6% 6.1% 6.4% 6.8%
Growth
Revenue growth 2.7% −2.3% 2.6% 22.7% −2.0% 19.9% 44.0% −11.0% 17.1% 6.3%
Net income growth −16.5% −8.6% −38.9% 198.6% −18.0% 77.8% 108.8% −47.8% 13.5% 16.7%
EPS growth −17.0% −8.9% −39.4% 195.8% −18.2% 76.6% 108.5% −48.0% 13.0% 16.8%
FCF growth 11.1% 18.9% 12.1% 27.9% −4.6% 46.3% −35.1% 87.4% 21.2% 9.6%
Share count change 0.7% 0.2% 0.8% 0.9% 0.3% 0.7% 0.2% 0.6% 0.3% −0.1%
Financial health
Net debt / EBITDA 0.7x 1.2x 1.3x 0.4x 0.4x 0.3x 0.2x 0.4x — —
Debt / equity 0.2x 0.2x 0.2x 0.2x 0.1x 0.2x 0.2x 0.1x — —
Interest coverage 22.2x 12.4x 10.1x 31.7x 26.0x 45.9x 90.6x 52.7x 68.5x 95.4x
Capital allocation
Capex / revenue 2.0% 1.2% 0.7% 0.7% 0.6% 0.7% 0.4% 0.4% 0.3% 0.3%
Stock comp / revenue 0.5% 0.6% 0.6% 0.5% — — — — — —
Payouts / FCF 77.4% 60.5% 39.4% 31.7% 34.1% 35.9% 149.2% 30.6% 42.4% 39.7%
Quality scores
Accruals ratio −2.2% −3.2% −5.1% −2.6% −2.8% −2.5% 7.2% −3.2% −4.0% −3.6%

Source: SEC EDGAR XBRL filings (CIK 0000084246). Data updated October 21, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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