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ORI

Old Republic International Corporation

ORI

Old Republic International Corporation • NYSE
$46.10 ▼ -0.67% (-0.31)
Market Cap $11.41 B
52w High $46.63
52w Low $33.00
Dividend Yield 1.14%
P/E 13.8
Volume 687.07K
Outstanding Shares 247.45M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.424B ▲ $1.219B ▲ $279.5M ▲ 11.531% ▲ $1.14 ▲ $370.2M ▲
Q2-2025 $2.208B ▲ $1.122B ▲ $204.4M ▼ 9.256% ▼ $0.84 ▼ $277.7M ▼
Q1-2025 $2.114B ▲ $1.034B ▼ $245M ▲ 11.59% ▲ $1.01 ▲ $325.5M ▲
Q4-2024 $2.002B ▼ $1.083B ▼ $105.1M ▼ 5.248% ▼ $0.43 ▼ $148M ▼
Q3-2024 $2.341B $1.105B $338.9M 14.474% $1.35 $448.2M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.141B ▲ $30.252B ▲ $23.813B ▲ $6.423B ▲
Q2-2025 $2.763B ▲ $29.256B ▲ $23.052B ▲ $6.185B ▲
Q1-2025 $2.741B ▼ $28.028B ▲ $22.084B ▼ $5.918B ▲
Q4-2024 $3.043B ▼ $27.843B ▼ $22.224B ▼ $5.619B ▼
Q3-2024 $3.324B $28.844B $22.399B $6.445B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $280.2M ▲ $563.8M ▲ $-381.1M ▼ $-118.3M ▼ $64.4M ▲ $563.8M ▲
Q2-2025 $208.4M ▼ $133.8M ▼ $-140.8M ▼ $-78.5M ▲ $-85.6M ▼ $133.8M ▼
Q1-2025 $246.1M ▲ $231.7M ▼ $428.4M ▲ $-598.4M ▲ $61.8M ▲ $231.7M ▼
Q4-2024 $105.1M ▼ $361.7M ▼ $-45.6M ▼ $-639.2M ▼ $-323.3M ▼ $361.7M ▼
Q3-2024 $339M $474.8M $114.5M $-233.4M $356M $474.8M

Revenue by Products

Product Q2-2024Q3-2024Q4-2024Q3-2025
Corporate Other
Corporate Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Title Insurance Group
Title Insurance Group
 $680.00M ▲$720.00M ▲$370.00M ▼$770.00M ▲
General Insurance Group
General Insurance Group
 $1.31Bn ▲$1.40Bn ▲$0 ▼$0 ▲
Total of major segments
Total of major segments
 $1.99Bn ▲$2.13Bn ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Old Republic’s income statement shows a consistently profitable insurer with some ups and downs tied to the insurance cycle and capital markets. Revenue jumped earlier in the period, then eased back, and has recently picked up again, suggesting a business that can grow but is sensitive to market conditions. Operating profit and net income stay clearly in the black across all years, with one standout year and then a reset to more normal but still healthy levels. Earnings per share move in the same pattern, showing that shareholders are still seeing solid, if variable, profit per share. Overall, the story is of a mature insurer with steady profitability, not a high‑growth story but a disciplined earner that weathers different environments reasonably well.

Balance Sheet

Balance Sheet The balance sheet reflects a traditionally conservative insurance company. Total assets have climbed steadily, which fits an insurer that is selectively growing its book of business and investment portfolio. Debt is present but not excessive and has been held roughly stable in recent years, a sign of controlled leverage rather than aggressive borrowing. Equity has drifted slightly down from earlier peaks but remains substantial, giving the company a solid capital cushion. Cash on hand is small compared with total assets, which is typical for an insurer that holds most funds in investment securities rather than pure cash. Overall, the balance sheet looks sturdy and built for resilience rather than speed.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has been positive every year and broadly aligns with the earnings pattern, which supports the quality of reported profits. Free cash flow essentially matches operating cash flow because the business needs very little traditional capital spending; insurance is a capital‑light model in terms of physical assets. The result is a company that regularly converts its underwriting and investment activities into cash that can support claims, dividends, and other capital uses. There are year‑to‑year fluctuations, but no sign of stress or persistent cash shortfalls in the period shown.

Competitive Edge

Competitive Edge Old Republic competes as a specialist rather than a mass‑market insurer. Its strength lies in deep expertise in targeted niches—such as trucking, construction, and other complex commercial risks—where strong underwriting skill and industry knowledge matter more than raw scale. The decentralized structure, with autonomous subsidiaries, keeps decision‑making close to the customer and allows tailored products that can be difficult for more centralized giants to match. Long‑standing underwriting discipline and a very long dividend track record add to its reputation for stability. Key risks are intense competition from larger carriers, the cyclical nature of some end‑markets (like construction and transportation), and the need to keep pace with industry leaders in digital claims and customer experience. Still, its focus on specialization and prudence gives it a durable, if not flashy, competitive footing.

Innovation and R&D

Innovation and R&D Innovation at Old Republic is more about product design and organizational structure than about heavy spending on traditional R&D. The company has steadily launched specialized subsidiaries—recently in cyber risk and environmental liability—to address emerging areas of demand, showing an ability to spot and fill profitable niches. It selectively deploys technology to support underwriting, fraud detection, and closing processes, especially in areas like title insurance, but is not a front‑runner in end‑to‑end digital transformation. The main opportunity is to keep pairing its specialty expertise with better data and automation, while the main risk is lagging too far behind peers in digital claims handling and customer interfaces. Overall, it is an incremental innovator focused on new specialty lines rather than disruptive tech leaps.

Summary

Old Republic International presents as a steady, conservatively run specialty insurer. Its earnings record shows recurring profitability with some cyclicality, underpinned by a strong balance sheet and reliable cash flows. Strategically, its edge comes from specialization, decentralized decision‑making, and strict underwriting discipline rather than scale or cutting‑edge technology. The company continues to expand into new niche areas like cyber and environmental insurance, which could support future growth if managed with the same discipline. On the other hand, competitive pressure, economic cycles in its target industries, and the need to further modernize its digital capabilities remain important watchpoints. Overall, the picture is of a financially solid, niche‑focused insurer prioritizing stability, prudent growth, and consistent execution.

NEWS

November 25, 2025 · 7:00 AM UTC

OLD REPUBLIC DECLARES FOURTH QUARTER REGULAR CASH DIVIDEND OF 29 CENTS PER SHARE

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October 23, 2025 · 7:00 AM UTC

OLD REPUBLIC REPORTS RESULTS FOR THE THIRD QUARTER AND FIRST NINE MONTHS OF 2025

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October 9, 2025 · 7:00 AM UTC

OLD REPUBLIC INTERNATIONAL ANNOUNCES THIRD QUARTER 2025 EARNINGS CALL

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September 29, 2025 · 1:00 PM UTC

OLD REPUBLIC FORMS NEW ENVIRONMENTAL INSURANCE COMPANY

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