RLI FY 2020 Earnings Report — RLI Corp. Revenue & Financial Results | Market Cap Arena

FY 2020 Earnings

Reported February 19, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$988M	—	$1.0B	—	-1.9%
Op. Income	$190M	—	$233M	—	-18.4%
Gross Margin	31.2%	—	35.3%	—	-4.2pp
Net Margin	15.9%	—	19.0%	—	-3.1pp
EPS (Diluted)	$1.73	—	$2.12	—	-18.4%
Free Cash Flow	$257M	—	$270M	—	-4.6%

Revenue Flow

Item	Amount
REVENUE	$988M
Cost of Revenue	$680M
GROSS PROFIT	$308M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$10M
SG&A Expenses	$10M
Other Expenses	$108M
Operating Expenses	$118M
Cost & Expenses	$798M
OPERATING INCOME	$190M
Interest Income	$73M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$190M
Income Tax Expense	$33M
Net Income from Continuing Ops	$157M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$157M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$157M
D&A	$7M
EBIT	$197M
EBITDA	$205M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$988M
Cost of Revenue	$680M
GROSS PROFIT	$308M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$10M
SG&A Expenses	$10M
Other Expenses	$108M
Operating Expenses	$118M
Cost & Expenses	$798M
OPERATING INCOME	$190M
Interest Income	$73M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$190M
Income Tax Expense	$33M
Net Income from Continuing Ops	$157M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$157M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$157M
D&A	$7M
EBIT	$197M
EBITDA	$205M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$157M
Depreciation & Amortization	$7M
Stock-Based Compensation	$5M
Deferred Income Tax	$0
Other Non-Cash Items	-$8M
Change in Working Capital	$102M
OPERATING CASH FLOW	$263M
Capital Expenditure	-$6M
Acquisitions (Net)	-$5M
Purchases of Investments	-$596M
Sales/Maturities of Investments	$447M
Other Investing Activities	-$9M
NET CASH FROM INVESTING	-$168M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$88M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$79M
FREE CASH FLOW	$257M
Net Change in Cash	$16M

Balance Sheet

Item	Amount
Cash & Equivalents	$62M
Short-Term Investments	$2.2B
Net Receivables	$618M
Inventory	$0
Other Current Assets	-$3.0B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$51M
Goodwill	$46M
Intangible Assets	$8M
Long-Term Investments	$2.8B
Tax Assets	$0
Other Non-Current Assets	-$3.0B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$3.9B
Account Payables	$42M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$118M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$149M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$80M
Other Non-Current Liabilities	-$230M
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$2.8B
Common Stock	$681.0K
Additional Paid-In Capital	$335M
Retained Earnings	$1.1B
Treasury Stock	-$401M
Accum. Other Comp. Income	$109M
Other Equity	$8M
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$3.9B
Total Debt	$149M
Net Debt	$87M