RLI FY 2021 Earnings Report — RLI Corp. Revenue & Financial Results | Market Cap Arena

FY 2021 Earnings

Reported February 18, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$1.2B	—	$988M	—	19.8%
Op. Income	$344M	—	$190M	—	81.4%
Gross Margin	38.8%	—	31.2%	—	7.7pp
Net Margin	23.6%	—	15.9%	—	7.7pp
EPS (Diluted)	$3.06	—	$1.73	—	76.9%
Free Cash Flow	$377M	—	$257M	—	46.3%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$724M
GROSS PROFIT	$460M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$13M
SG&A Expenses	$13M
Other Expenses	$102M
Operating Expenses	$115M
Cost & Expenses	$839M
OPERATING INCOME	$344M
Interest Income	$75M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$344M
Income Tax Expense	$65M
Net Income from Continuing Ops	$279M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$279M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$279M
D&A	$7M
EBIT	$352M
EBITDA	$359M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$724M
GROSS PROFIT	$460M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$13M
SG&A Expenses	$13M
Other Expenses	$102M
Operating Expenses	$115M
Cost & Expenses	$839M
OPERATING INCOME	$344M
Interest Income	$75M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$344M
Income Tax Expense	$65M
Net Income from Continuing Ops	$279M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$279M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$279M
D&A	$7M
EBIT	$352M
EBITDA	$359M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$279M
Depreciation & Amortization	$7M
Stock-Based Compensation	$6M
Deferred Income Tax	$0
Other Non-Cash Items	-$41M
Change in Working Capital	$134M
OPERATING CASH FLOW	$385M
Capital Expenditure	-$8M
Acquisitions (Net)	-$9M
Purchases of Investments	-$875M
Sales/Maturities of Investments	$621M
Other Investing Activities	-$4M
NET CASH FROM INVESTING	-$275M
Net Debt Issuance	$50M
Common Stock Repurchased	$0
Common Dividends Paid	-$135M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$83M
FREE CASH FLOW	$377M
Net Change in Cash	$27M

Balance Sheet

Item	Amount
Cash & Equivalents	$89M
Short-Term Investments	$2.4B
Net Receivables	$775M
Inventory	$0
Other Current Assets	-$3.4B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$52M
Goodwill	$46M
Intangible Assets	$8M
Long-Term Investments	$3.2B
Tax Assets	$0
Other Non-Current Assets	-$3.3B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$4.5B
Account Payables	$43M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$141M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$200M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$84M
Other Non-Current Liabilities	-$283M
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$3.3B
Common Stock	$682.0K
Additional Paid-In Capital	$344M
Retained Earnings	$1.2B
Treasury Stock	-$403M
Accum. Other Comp. Income	$50M
Other Equity	$10M
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$4.5B
Total Debt	$200M
Net Debt	$111M