RLI FY 2019 Earnings Report — RLI Corp. Revenue & Financial Results | Market Cap Arena

FY 2019 Earnings

Reported February 21, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$1.0B	—	$820M	—	22.7%
Op. Income	$233M	—	$68M	—	244.4%
Gross Margin	35.3%	—	21.9%	—	13.4pp
Net Margin	19.0%	—	7.8%	—	11.2pp
EPS (Diluted)	$2.12	—	$0.71	—	196.5%
Free Cash Flow	$270M	—	$211M	—	27.9%

Revenue Flow

Item	Amount
REVENUE	$1.0B
Cost of Revenue	$651M
GROSS PROFIT	$355M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$13M
SG&A Expenses	$13M
Other Expenses	$110M
Operating Expenses	$123M
Cost & Expenses	$774M
OPERATING INCOME	$233M
Interest Income	$74M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$233M
Income Tax Expense	$41M
Net Income from Continuing Ops	$192M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$192M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$192M
D&A	$8M
EBIT	$240M
EBITDA	$248M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.0B
Cost of Revenue	$651M
GROSS PROFIT	$355M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$13M
SG&A Expenses	$13M
Other Expenses	$110M
Operating Expenses	$123M
Cost & Expenses	$774M
OPERATING INCOME	$233M
Interest Income	$74M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$233M
Income Tax Expense	$41M
Net Income from Continuing Ops	$192M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$192M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$192M
D&A	$8M
EBIT	$240M
EBITDA	$248M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$192M
Depreciation & Amortization	$8M
Stock-Based Compensation	$6M
Deferred Income Tax	$0
Other Non-Cash Items	-$27M
Change in Working Capital	$98M
OPERATING CASH FLOW	$277M
Capital Expenditure	-$7M
Acquisitions (Net)	$0
Purchases of Investments	-$618M
Sales/Maturities of Investments	$460M
Other Investing Activities	-$20M
NET CASH FROM INVESTING	-$185M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$86M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$76M
FREE CASH FLOW	$270M
Net Change in Cash	$16M

Balance Sheet

Item	Amount
Cash & Equivalents	$46M
Short-Term Investments	$2.0B
Net Receivables	$545M
Inventory	$0
Other Current Assets	-$2.7B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$53M
Goodwill	$46M
Intangible Assets	$8M
Long-Term Investments	$2.5B
Tax Assets	$0
Other Non-Current Assets	-$2.7B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$3.5B
Account Payables	$26M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$92M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$149M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$57M
Other Non-Current Liabilities	-$206M
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$2.6B
Common Stock	$678.0K
Additional Paid-In Capital	$321M
Retained Earnings	$1.0B
Treasury Stock	-$401M
Accum. Other Comp. Income	$52M
Other Equity	$8M
TOTAL STOCKHOLDERS' EQUITY	$995M
Minority Interest	$0
TOTAL EQUITY	$995M
TOTAL LIABILITIES & EQUITY	$3.5B
Total Debt	$149M
Net Debt	$103M