RLI vs Starwood Property Trust
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KIRAβs take AI analyst
I put RLI and Starwood Property Trust side by side, using each oneβs latest annual report. Here is what stands out:
- RLI is the larger business, with $1.9B of revenue in fiscal 2025 against $1.8B for Starwood Property Trust.
- RLI grew revenue faster (6.3%, against β5.3%).
- RLI turned more of its sales into free cash flow (32.3% FCF margin, against 5.4%).
- Investors pay more for each dollar of Starwood Property Trustβs earnings: a P/E of 21.2x against 15.1x for RLI.
Who comes out ahead
Of the 6 measures where higher (or lower) is clearly better, how many each company leads.
RLI
RLI
5/6
Revenue growth5-year growthFCF marginReturn on equityShare count change
Starwood Property Trust
STWD
1/6
Net margin
Side by side
Best in the row
| Latest fiscal year | RLI FY25 | STWD FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.0B | $4.6B |
| Revenue | $1.9B | $1.8B |
| Free cash flow | $609M | $99.4M |
| Net income | $403M | $412M |
| Growth | ||
| Revenue growth | 6.3% | β5.3% |
| 5-year growth | 13.9% | 10.2% |
| Share count change | β0.1% | 9.2% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 21.4% | 22.3% |
| FCF margin | 32.3% | 5.4% |
| Return on capital | β | β |
| Return on equity | 24.4% | 6.2% |
| Balance sheet | ||
| Net debt | β | β |
| Net debt / EBITDA | β | β |
| Dividends and buybacks | $242M | $669M |
| Valuation & quality | ||
| P/E | 15.1x | 21.2x |
| Piotroski F-score | β | β |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.

