RLI FY 2022 Earnings Report — RLI Corp. Revenue & Financial Results | Market Cap Arena

FY 2022 Earnings

Reported February 24, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$1.7B	—	$1.2B	—	43.5%
Op. Income	$721M	—	$344M	—	109.3%
Gross Margin	43.1%	—	38.8%	—	4.3pp
Net Margin	34.4%	—	23.6%	—	10.8pp
EPS (Diluted)	$6.37	—	$3.06	—	108.2%
Free Cash Flow	$245M	—	$377M	—	-35.1%

Revenue Flow

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$966M
GROSS PROFIT	$732M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$13M
SG&A Expenses	$13M
Other Expenses	-$2M
Operating Expenses	$11M
Cost & Expenses	$977M
OPERATING INCOME	$721M
Interest Income	$92M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$721M
Income Tax Expense	$137M
Net Income from Continuing Ops	$583M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$583M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$583M
D&A	$8M
EBIT	$729M
EBITDA	$737M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$966M
GROSS PROFIT	$732M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$13M
SG&A Expenses	$13M
Other Expenses	-$2M
Operating Expenses	$11M
Cost & Expenses	$977M
OPERATING INCOME	$721M
Interest Income	$92M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$721M
Income Tax Expense	$137M
Net Income from Continuing Ops	$583M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$583M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$583M
D&A	$8M
EBIT	$729M
EBITDA	$737M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$583M
Depreciation & Amortization	$8M
Stock-Based Compensation	$9M
Deferred Income Tax	$0
Other Non-Cash Items	-$458M
Change in Working Capital	$108M
OPERATING CASH FLOW	$250M
Capital Expenditure	-$6M
Acquisitions (Net)	$683M
Purchases of Investments	-$2.1B
Sales/Maturities of Investments	$1.5B
Other Investing Activities	-$3M
NET CASH FROM INVESTING	$49M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$365M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$365M
FREE CASH FLOW	$245M
Net Change in Cash	-$66M

Balance Sheet

Item	Amount
Cash & Equivalents	$23M
Short-Term Investments	$2.7B
Net Receivables	$930M
Inventory	$0
Other Current Assets	-$3.8B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$50M
Goodwill	$46M
Intangible Assets	$8M
Long-Term Investments	$3.3B
Tax Assets	$0
Other Non-Current Assets	-$3.4B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$4.8B
Account Payables	$61M
Short-Term Debt	$200M
Deferred Revenue	$0
Other Current Liabilities	-$356M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$200M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$200M
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$3.6B
Common Stock	$684.0K
Additional Paid-In Capital	$352M
Retained Earnings	$1.4B
Treasury Stock	-$405M
Accum. Other Comp. Income	-$229M
Other Equity	$12M
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$4.8B
Total Debt	$400M
Net Debt	$377M