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%

Follow RLI

Alert me

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 Valuation Filings

RLI Corp. (RLI) valuation and DCF model

What the price implies · reverse DCF

At $68.89 the price implies 1.6% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 6.8% a year over the last ten years, 22.0% over the last five. The price asks for less than its ten-year rate. Return on equity averaged 21.4% over ten years; the price implies 26.7% for good.

In December 2017 the price assumed 6.8% a year; RLI Corp. went on to grow the dividend a share 15.8% a year to FY2025.

Price implies: 1.6%
Last 5 years, reported: 22.0%
Last 10 years, reported: 6.8%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF

The price needs: 1.6% a year for ten years; $68.89; today’s price
Its base case: 6.8% a year for five years, then 4.1%; $93.01; 35.0% above today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record RLI Corp.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

1 · Dividends

Dividend a share, last twelve months ($)the four quarters to September 2026, from the 10-Q and 10-K filings

Growth, yrs 1–5 (%)

Growth, yrs 6–10 (%)

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 1.6% a year for ten years.

2 · Rates

Cost of equity (%)

Terminal growth (%)

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

Current price ($)

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Value per share Expected return

Use the analysts’ consensus for years 1–3 (−18.4%, 3.2%, 7.2%)

How the model ends

Margin of safety (%)

Against RLI Corp.’s own cost of capital: risk-free 4.3% + beta 0.30 × equity premium 4.5% = 5.6% cost of equity; weighted, 5.6%.

Use 5.6%

Base case value per share $93.01 ten years discounted, and what follows

Current price $68.89 market price per share

Above today’s price 35.0% upside at the base case’s assumptions

How we got there$40.31 10 years of dividends+$52.70 terminal value=$93.01 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Insurance Property & Casualty).

Multiple	Current	5Y avg	10Y avg	vs 10Y avg	Industry median	vs industry
P/E	15.56×	16.61×	22.62×	31% below	11.87×	31% above
P/FCF	11.53×	14.55×	14.77×	22% below	8.12×	42% above
P/B	3.61×	4.27×	4.05×	11% below	1.99×	82% above
EV/EBITDA	—	14.29×	22.62×	—	3.38×	—
EV/Sales	—	3.98×	3.97×	—	3.90×	—

P/E P/FCF P/B EV/EBITDA EV/Sales

RLI trades at 15.56× P/E, against a 10-year average of 22.62× (range 10.40×–48.25×). That is cheaper than 78% of the last 9 year-end readings; re-rating to the average implies $100.11 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.