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Wednesday 4 November 2026 Export RLI’s income statement to Excel — free account

RLI Corp.

RLI Financial Insurance Property & Casualty

RLI Corp.’s revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, up 6.33% from fiscal 2024.

Revenue
−6.34%
EPS
−34.8%
Free cash flow
+8.17%
Total debt
+48.5%

Quarter to September 2026, against a year earlier

68.89 2.05 +3.07%
Market cap
$6.1B
P/E
15.6×
Fwd P/E
16.0×
Dividend yield
0.78%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Valuation Filings

Insider Decisions last twelve months

Bought, $m 1.52
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — 2 — — — 6 1 — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 1.49%

Capital & Financial Ratios $m

Size
Market Cap 6,130.00
Revenue ttm 1,942.10
Net income ttm 403.34
Free cash flow ttm 531.54
Net debt Q 250.83
Valuation
P/E 15.56
Forward P/E 16.00
Price / sales 3.16
Forward P/S Powerpack
Price / FCF 11.53
Price / book 3.61
Financial health
Current ratio Q 0.25
Debt / equity Q 0.18
Interest coverage Q 25.58
Growth
Revenue growth Q −6.34% (below 0%: shrinking)
Operating income growth Q −31.60% (below 0%: shrinking)
EPS, this year −7.18% (below 0%: weak)
EPS, next year A −12.98% (below 0%: weak)
Revenue, next year A +1.57%
EPS, past 5 yrs +20.36% (at or above 15%: strong)
EPS, next 5 yrs A −6.67% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 17.10%
10-year low 10-year high
P/S against its own 10 years 17.03%
10-year low 10-year high
P/B against its own 10 years 38.57%
10-year low 10-year high

Dividends raised 4 years running

Yield
0.78%
Annual rate
0.52
Payout ratio
12.1%
Growth, 2017–25
+1.57%/yr
  1. 0.42 ’17
  2. 1.33 ’18 +219
  3. 0.46 ’19 −66
  4. 0.48 ’20 +4
  5. 0.37 ’21 −22
  6. 0.39 ’22 +4
  7. 0.40 ’23 +4
  8. 0.43 ’24 +6
  9. 0.47 ’25 +11
  10. 3.50 ’26e +645
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 36 40 52 46
Receivables 1,091 1,111 1,084 1,083
Inventory — — — —
Other — — — —
1,127 1,151 1,135 1,129
2023 2024 2025 Q'26
Payables 3,410 3,722 3,919 4,097
ST’ Debt — 100 100 297
Other — — — —
3,519 3,947 4,148 4,505

Compound Annual Growth %

10y 5y 3y
Sales 9.01% 13.86% 3.50%
Cash Flow 14.94% 18.46% 34.86%
Earnings 11.36% 20.75% (11.58%)
Book Value 8.00% 9.38% 14.73%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.58 Actual 0.86

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.76 0.94 Beat by 0.18
Q1 FY26 0.85 0.83 Miss by 0.02
Q2 FY26 0.71 0.83 Beat by 0.12
Q3 FY26 0.58 0.86 Beat by 0.28
Q4 FY26 0.70 — Reports 20 January 2027

EPS $

Mar Jun Sep Dec Year
’26 0.60 1.82 0.88 — —
’25 0.68 1.34 1.35 0.99 4.37
’24 1.39 0.89 1.03 0.44 3.74
’23 1.08 0.85 0.15 1.25 3.31
’22 0.53 (0.02) 4.81 1.07 6.37
’21 0.80 0.90 0.32 1.04 3.06
’20 (0.68) 1.02 0.47 0.92 1.73
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 424 576 477 — —
’25 408 500 509 466 1,882
’24 445 416 470 439 1,770
’23 365 382 332 434 1,512
’22 265 213 859 361 1,698
’21 287 298 270 323 1,179
’20 118 298 263 304 984
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 43 145 195 — —
’25 104 175 179 157 614
’24 71 142 219 128 560
’23 69 174 99 122 464
’22 39 132 112 (32) 250
’21 60 104 116 104 385
’20 (6) 90 79 100 263
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 42 142 192 — —
’25 102 173 178 155 609
’24 70 139 219 128 556
’23 68 173 96 122 458
’22 37 131 111 (34) 245
’21 59 102 114 101 377
’20 (8) 88 78 99 257
Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing 1.2% a year for ten years. It grew 6.8% a year over the last ten.

Implied
1.2%
10 years, reported
6.8%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

3.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 816 797 818 1,004 984 1,179 1,698 1,512 1,770 1,882 1,942 +9.7% 1,912 1,936 2,002 +2.1%
Gross margin, % 26.57 17.95 14.94 30.04 25.85 34.36 47.94 32.36 32.03 34.43 33.49 +7.9 pt
EBT 157 85 68 233 190 344 721 377 428 506 492 +13.9%
EBT margin, % 19.24 10.61 8.26 23.19 19.30 29.20 42.44 24.95 24.15 26.88 25.32 +7.6 pt
Net income 115 105 64 192 157 279 583 305 346 403 403 +15.0%
Per share, $
Per share, $ Revenue 9.32 9.05 9.22 11.22 10.93 13.04 18.71 16.58 19.34 20.50 21.16 +9.1%
Earnings 1.30 1.18 0.72 2.12 1.73 3.06 6.37 3.31 3.74 4.37 4.29 +14.5%
Cash flow 1.99 2.24 2.45 3.10 2.93 4.26 2.76 5.09 6.12 6.69 5.88 +14.4%
Capex (0.17) (0.10) (0.07) (0.08) (0.06) (0.09) (0.06) (0.06) (0.05) (0.06) (0.09) (10.6%)
Free cash flow 1.83 2.14 2.38 3.02 2.86 4.16 2.70 5.03 6.07 6.63 5.79 +15.4%
Book value 9.41 9.69 9.09 11.13 12.62 13.59 12.98 15.50 16.63 19.36 18.48 +8.4%
Shares, m 88 88 89 89 90 90 91 91 92 92 92 +0.5%
Valuation, ×
Valuation, × P/E 23.88 25.10 48.25 21.23 30.19 18.35 10.40 20.42 22.01 14.67 15.56 23.4
P/S 3.30 3.29 3.74 4.01 4.77 4.30 3.54 4.08 4.26 3.12 3.16 3.8
P/B 3.28 3.07 3.79 4.05 4.13 4.12 5.11 4.36 4.96 3.30 3.61 4.0
EV/Sales 3.46 3.44 3.89 4.12 4.85 4.39 3.76 4.18 4.35 3.20 — 4.0
EV/FCF 17.67 14.56 15.06 15.30 18.54 13.76 26.08 13.80 13.87 9.90 — 15.9
Cash, $m
Cash, $m Operating cash flow 174 198 217 277 263 385 250 464 560 614 539 +15.0%
Capex (14) (9) (6) (7) (6) (8) (6) (6) (5) (6) (8) (10.1%)
Free cash flow 160 188 211 270 257 377 245 458 556 609 532 +16.0%
Balance, $m
Balance, $m Working capital (1,158) (1,279) (1,407) (1,522) (1,661) (1,870) (2,166) (2,392) (2,796) (3,012) (3,375) +11.2%
Net debt 130 125 119 103 87 111 377 64 160 48 251 (10.4%)
Shareholders’ equity 824 854 807 995 1,136 1,229 1,177 1,414 1,522 1,778 1,696 +8.9%
Returns, %
Returns, % ROA 4.17 3.67 2.12 5.76 4.20 6.61 12.58 6.12 6.40 6.84 6.23 +2.7 pt
ROIC 10.07 4.78 3.98 12.48 9.05 14.69 28.91 15.87 16.30 17.63 16.47 +7.6 pt
ROE 13.95 12.52 7.73 21.27 14.74 23.62 48.48 23.51 23.56 24.44 22.13 +10.5 pt
People
People Employees 943 902 912 905 875 913 1,001 1,099 1,147 1,193 — +2.6%
Revenue/emp, $m 0.87 0.88 0.90 1.11 1.12 1.29 1.70 1.38 1.54 1.58 — +6.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

RLI Corp. is a U.S. specialty insurer that sells property, casualty and surety products. It was founded in 1965 and is headquartered in Peoria. Craig Kliethermes is its president and chief executive officer.

Specialty insurance covers risks that do not fit the underwriting criteria of standard insurers. RLI offers coverage in both the admitted market, where insurers face state requirements such as rate and policy-form filings, and the excess and surplus market, which covers hard-to-place risks using more flexible policy forms and unregulated premium rates. It also writes specialty reinsurance, taking on portions of other insurers’ risks.

RLI Corp. vs peers in Insurance Property & Casualty (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ORI Old Republic International Corporation $9.3B 8.5× 8.9× +5.21% (above 0%: growing) −11.55% (below 0%: shrinking) −23.85% (below 0%: shrinking) 11.68% 11.68% Compare
KNSL Kinsale Capital Group, Inc. $8.6B 16.6× 16.2× −8.58% (below 0%: shrinking) −28.76% (below 0%: shrinking) −9.58% (below 0%: shrinking) 27.99% 27.89% Compare
THG The Hanover Insurance Group, Inc. $8.5B 11.7× 11.6× +4.23% (above 0%: growing) +1.22% (above 0%: growing) −6.06% (below 0%: shrinking) 42.97% 13.27% Compare
RLI RLI Corp. $6.1B 15.6× 16.0× −6.34% (below 0%: shrinking) −34.81% (below 0%: shrinking) +8.17% (above 0%: growing) 29.66% 22.52%
SIGI Selective Insurance Group, Inc. $5.9B 12.1× 11.7× −2.49% (below 0%: shrinking) +14.05% (above 0%: growing) −12.67% (below 0%: shrinking) 42.49% 13.22% Compare
HGTY Hagerty, Inc. $5.9B 106× 77.9× −6.46% (below 0%: shrinking) n/m +1.36% (above 0%: growing) 100.00% 18.38% Compare
MCY Mercury General Corporation $5.7B 8.9× 7.0× −12.84% (below 0%: shrinking) n/m −22.67% (below 0%: shrinking) 7.63% (0.92%) Compare
WTM White Mountains Insurance Group, Ltd. $5.5B 5.2× 5.1× +22.55% (above 0%: growing) +68.75% (above 0%: growing) −131.27% (below 0%: shrinking) 54.44% 32.51% Compare
PLMR Palomar Holdings, Inc. $3.7B 18.5× 17.7× +54.65% (above 0%: growing) +14.94% (above 0%: growing) +38.21% (above 0%: growing) 23.77% 23.77% Compare
Median of peers $5.9B 11.9× 11.6× +0.87% +7.64% −11.12% 35.24% 15.83%

All 46 Insurance Property & Casualty stocks →

From the latest earnings call

Updated

  • CEO Craig Kliethermes said RLI would continue to select risks carefully, while COO Jen Klobnak described increased competition in excess liability and commercial transportation.
  • CFO Aaron Diefenthaler said new investment purchases were largely investment-grade fixed income, while Klobnak expected favorable terms as RLI renews reinsurance.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 95.43%
Held by the ten largest 53.41%
Holder Shares Stake Change
Vanguard 9.64m 10.50% +9.77k
State Street 8.94m 9.75% −41.68k
BlackRock 8.33m 9.08% +259.82k
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 6.74m 7.34% −266.37k
WASATCH ADVISORS LP 3.63m 3.96% +1.05m
Geode Capital Management 2.61m 2.85% +120.04k
ARIEL INVESTMENTS, LLC 2.52m 2.74% +1.65m
Markel Group Inc. 2.39m 2.61% 0.00
Invesco 2.36m 2.57% +567.39k
Dimensional Fund Advisors 1.85m 2.01% −73.62k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 26 March 2026

Ownership

Directors and executive officers, together 2.39%
The Vanguard Group, Inc. 10.01%
State Street Corporation 9.51%
Kayne Anderson Rudnick Investment Management LLC 7.90%
BlackRock, Inc. 7.80%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

RLI Corp. (RLI) Latest News

23 Oct

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Impact 3 · · Simply Wall St.
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30 Jul

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23 Jul

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RLI metrics, ten years each

stockrow.com/RLI · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com