RLI (RLI) financial statements
RLI reported revenue of $1.9B in fiscal 2025, up 9.7% a year over 9 years.
Net income was $403M and the operating margin 27.1%, against 17.9% in 2016.
Free cash flow was $609M, and the company returned $242M in dividends.
The diluted share count rose 4% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from RLI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $816M | $797M | $818M | $1.0B | $984M | $1.2B | $1.7B | $1.5B | $1.8B | $1.9B |
| Operating income | $146M | $67M | $52M | $212M | $170M | $307M | $711M | $368M | $432M | $510M |
| Interest expense | $7M | $7M | $7M | $8M | $8M | $8M | $8M | $7M | $6M | $5M |
| Pre-tax income | $157M | $85M | $68M | $233M | $190M | $344M | $721M | $377M | $428M | $506M |
| Income tax | $42M | -$20M | $3M | $41M | $33M | $65M | $137M | $73M | $82M | $103M |
| Net income | $115M | $105M | $64M | $192M | $157M | $279M | $583M | $305M | $346M | $403M |
| EPS (diluted) | $1.29 | $1.18 | $0.71 | $2.12 | $1.73 | $3.06 | $6.37 | $3.31 | $3.74 | $4.37 |
| Diluted shares | 89M | 89M | 90M | 91M | 91M | 91M | 92M | 92M | 92M | 92M |
| Operating margin | 17.9% | 8.4% | 6.3% | 21.1% | 17.2% | 26.1% | 41.9% | 24.3% | 24.4% | 27.1% |
| Net margin | 14.1% | 13.2% | 7.8% | 19.1% | 16.0% | 23.7% | 34.4% | 20.1% | 19.5% | 21.4% |
Balance sheet
Fiscal years, from RLI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $23M | $34M | $42M | $46M | $62M | $89M | $23M | $36M | $40M | $52M |
| Property, plant and equipment | $55M | $56M | $55M | $53M | $51M | $52M | $50M | $47M | $43M | $41M |
| Goodwill | $51M | $50M | $46M | $46M | $46M | $46M | $46M | $46M | $46M | $46M |
| 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 |
| Net debt | -$18M | -$24M | -$30M | -$46M | -$62M | -$89M | -$23M | -$36M | -$40M | -$52M |
Cash flow
Fiscal years, from RLI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $174M | $198M | $217M | $277M | $263M | $385M | $250M | $464M | $560M | $614M |
| Capital spending | $16M | $9M | $6M | $7M | $6M | $8M | $6M | $6M | $5M | $6M |
| Free cash flow | $158M | $188M | $211M | $270M | $257M | $377M | $245M | $458M | $556M | $609M |
| Stock-based compensation | $4M | $4M | $4M | $4M | — | — | — | — | — | — |
| Dividends paid | $122M | $114M | $83M | $86M | $88M | $135M | $365M | $140M | $236M | $242M |
| Net borrowing | — | — | — | — | — | $50M | — | -$100M | $0 | $0 |
| Free cash flow margin | 19.4% | 23.6% | 25.8% | 26.9% | 26.2% | 31.9% | 14.4% | 30.3% | 31.4% | 32.3% |
| Dividends per share | $1.38 | $1.28 | $0.93 | $0.95 | $0.97 | $1.48 | $3.98 | $1.52 | $2.55 | $2.61 |
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Open RLI in InvestinglyQuestions
What was RLI's revenue in 2025?
$1.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does RLI generate?
$609M in fiscal 2025 (operating cash flow minus capital spending).
From RLI's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.