What is Old Republic's earnings per share (EPS)?

Old Republic (ORI) reported diluted earnings per share of $3.72 for fiscal year 2025. This represents a 14.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Old Republic Financials

ORI

Trailing 12 months to June 30, 2026

Revenue $9.7B +12.1% YoY

Net Income $1.1B +27.4% YoY

EPS (Diluted) $4.56 +29.2% YoY

Free Cash Flow Not reported for the trailing 12 months

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 31, 2026 Currency USD FYE December

Old Republic (ORI) reported $9.7B in revenue over the twelve months to Jun 30, 2026, up 12.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI ORI FY2025 2026-08-29

Old Republic’s dominant mechanic is leverage-supported balance-sheet expansion paired with recurring cash generation and substantial shareholder distributions.

Across FY2023-FY2025, debt-to-equity climbed from 3.1x to 4.0x as the balance sheet expanded, indicating growth was accompanied by greater reliance on leverage rather than primarily equity funding. Cash conversion stayed ahead of accounting profit in each year, but its cushion narrowed from $380.6M to $228.6M, meaning earnings remained cash-backed while becoming less conservatively converted.

The earnings rebound is not merely a revenue story: FY2025 net income reached $935M while operating cash flow was $1.16B, preserving cash conversion as operations returned to a larger scale.

FY2025 financing outflows were dominated by dividends and buybacks, totaling $906M against $926M of total financing outflow; capital return was therefore the clearest use of financing cash. The share count fell from 308M in FY2021 to 246M in FY2025, while dividends consumed most FY2025 profit rather than the smaller portion seen in FY2024.

Financial Health Signals

Financial Health Score 49/100

Scored as: Insurers peer group

Scored against insurers for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Old Republic's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Loss Ratio

Premium Growth

Capital

Investment Yield

Not available for Old Republic, and counted as zero in the overall score.

Combined Ratio

Stability

Piotroski F-Score Partial

6/6

Old Republic passes 6 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 1 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.24x

For every $1 of reported earnings, Old Republic generates $1.24 in operating cash flow ($1.2B OCF vs $935.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$9.1B

YoY+11.0%

5Y CAGR+5.0%

10Y CAGR+4.7%

Old Republic generated $9.1B in revenue in fiscal year 2025. This represents an increase of 11.0% from the prior year.

Net Income

$935.4M

YoY+9.7%

5Y CAGR+10.9%

10Y CAGR+8.3%

Old Republic reported $935.4M in net income in fiscal year 2025. This represents an increase of 9.7% from the prior year.

EPS (Diluted)

$3.72

YoY+14.8%

5Y CAGR+14.7%

10Y CAGR+9.7%

Old Republic earned $3.72 per diluted share (EPS) in fiscal year 2025. This represents an increase of 14.8% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$263.2M

YoY+30.4%

5Y CAGR+17.3%

10Y CAGR+5.1%

Old Republic held $263.2M in cash as of fiscal year 2025; long-term debt is not reported for that period.

Dividends Per Share

$3.66

YoY+19.6%

5Y CAGR+14.7%

10Y CAGR+17.3%

Old Republic paid $3.66 per share in dividends in fiscal year 2025. This represents an increase of 19.6% from the prior year.

Shares Outstanding

246M

YoY-1.0%

5Y CAGR-4.2%

10Y CAGR-0.6%

Old Republic had 246M shares outstanding in fiscal year 2025. This represents a decrease of 1.0% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Margins & Returns

Net Margin

10.2%

YoY-0.1pp

5Y CAGR+2.4pp

10Y CAGR+2.9pp

Old Republic's net profit margin was 10.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.1 percentage points from the prior year.

Return on Equity

15.8%

YoY+0.6pp

5Y CAGR+6.8pp

10Y CAGR+4.9pp

Old Republic's ROE was 15.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.6 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

Share Buybacks

$123.8M

YoY-86.9%

Old Republic spent $123.8M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 86.9% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

Capital Expenditures

Not reported for fiscal year 2025.

ORI Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

ORI quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$9.7B	$9.1B+11.0%	$8.2B+13.4%	$7.3B-10.2%	$8.1B-13.5%	$9.3B+30.4%	$7.2B-3.9%	$7.5B+19.2%	$6.3B-0.1%	$6.3B+6.1%	$5.9B+2.3%	$5.8B+4.3%	$5.5B+1.6%	$5.4B+9.5%	$5.0B+7.0%	$4.6B
SG&A Expenses	N/A	$1.8B+10.2%	$1.7B+5.6%	$1.6B+0.4%	$1.6B	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	$70.5M-11.7%	$79.8M+18.8%	$67.2M-0.1%	$67.3M+20.4%	$55.9M+31.5%	$42.5M-1.6%	$43.2M-8.5%	$47.2M-26.8%	$64.5M+26.7%	$50.9M+18.6%	$42.9M+51.6%	$28.3M+22.5%	$23.1M-33.2%	$34.6M-32.3%	$51.1M
Income Tax	N/A	$242.1M+11.6%	$216.9M+45.9%	$148.7M-13.0%	$170.9M-55.9%	$387.7M+198.9%	$129.7M-51.2%	$265.9M+293.9%	$67.5M-59.0%	$164.8M-24.7%	$219.0M+4.5%	$209.6M+5.0%	$199.7M-11.2%	$225.0M+476.3%	-$59.8M+37.8%	-$96.1M
Net Income	$1.1B	$935.4M+9.7%	$852.7M+42.4%	$598.6M-12.8%	$686.4M-55.3%	$1.5B+174.7%	$558.6M-47.1%	$1.1B+185.1%	$370.5M-33.9%	$560.5M+20.0%	$466.9M+10.6%	$422.1M+3.0%	$409.7M-8.5%	$447.8M+752.8%	-$68.6M+51.2%	-$140.5M
EPS (Diluted)	$4.56	$3.72+14.8%	$3.24+54.3%	$2.10-7.1%	$2.26-55.2%	$5.05+170.1%	$1.87-46.7%	$3.51+183.1%	$1.24-35.4%	$1.92+18.5%	$1.62+9.5%	$1.48+2.8%	$1.44-8.3%	$1.57+681.5%	-$0.27+50.9%	-$0.55

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$2.5B+4.4%	$2.4B+0.4%	$2.4B-1.4%	$2.4B+9.8%	$2.2B+4.5%	$2.1B+5.6%	$2.0B-14.5%	$2.3B
SG&A Expenses	$467.2M-4.7%	$490.1M	N/A	$457.9M-1.0%	$462.6M+4.9%	$441.1M	N/A	$424.3M
Income Tax	$85.7M+2.3%	$83.8M	N/A	$72.8M+40.8%	$51.7M-16.1%	$61.6M	N/A	$88.0M
Net Income	$322.3M-2.3%	$330.0M+60.0%	$206.3M-26.2%	$279.5M+36.7%	$204.4M-16.6%	$245.0M+133.1%	$105.1M-69.0%	$338.9M
EPS (Diluted)	$1.31-0.8%	$1.32+61.0%	$0.82-26.1%	$1.11+37.0%	$0.81-17.3%	$0.98+133.3%	$0.42-68.2%	$1.32

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, Interest Expense.

ORI Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

ORI quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$29.9B+7.3%	$27.8B+5.1%	$26.5B+5.3%	$25.2B+0.7%	$25.0B+9.5%	$22.8B+8.3%	$21.1B+9.1%	$19.3B-0.4%	$19.4B+4.4%	$18.6B+8.7%	$17.1B+0.7%	$17.0B+2.7%	$16.5B+1.9%	$16.2B+1.1%	$16.1B
Cash & Equivalents	$263.2M+30.4%	$201.9M-0.4%	$202.8M+150.4%	$81.0M-48.8%	$158.1M+33.2%	$118.7M+50.6%	$78.8M-21.4%	$100.3M-20.3%	$125.9M-13.6%	$145.7M-8.8%	$159.8M+16.9%	$136.7M-10.8%	$153.3M+51.5%	$101.2M+8.8%	$93.0M
Goodwill	$173.2M-3.6%	$179.6M+0.7%	$178.3M+0.1%	$178.1M+2.1%	$174.5M-0.3%	$175.1M0.0%	$175.1M+0.6%	$174.0M+8.3%	$160.7M0.0%	$160.7M0.0%	$160.7M0.0%	$160.7M0.0%	$160.7M0.0%	$160.7M-0.8%	$162.0M
Total Liabilities	$23.9B+7.7%	$22.2B+10.6%	$20.1B+5.8%	$19.0B+5.0%	$18.1B+8.8%	$16.6B+10.3%	$15.1B+6.3%	$14.2B-3.3%	$14.7B+3.8%	$14.1B+6.9%	$13.2B+1.2%	$13.1B+2.4%	$12.8B+1.0%	$12.6B+2.9%	$12.3B
Total Equity	$5.9B+5.3%	$5.6B-12.4%	$6.4B+3.8%	$6.2B-10.4%	$6.9B+11.4%	$6.2B+3.1%	$6.0B+16.6%	$5.1B+8.7%	$4.7B+6.1%	$4.5B+14.9%	$3.9B-1.1%	$3.9B+3.9%	$3.8B+5.0%	$3.6B-4.7%	$3.8B
Retained Earnings	$5.5B-0.1%	$5.5B-2.2%	$5.6B+6.1%	$5.3B+2.1%	$5.2B+18.6%	$4.4B+0.2%	$4.4B+13.9%	$3.8B+20.0%	$3.2B+0.2%	$3.2B+8.9%	$2.9B+8.5%	$2.7B+8.9%	$2.5B+11.8%	$2.2B-10.1%	$2.5B

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$31.6B+6.7%	$29.6B-0.9%	$29.9B-1.3%	$30.3B+3.4%	$29.3B+4.4%	$28.0B+0.7%	$27.8B-3.5%	$28.8B
Cash & Equivalents	$417.7M+106.7%	$202.1M-23.2%	$263.2M+8.5%	$242.5M+36.2%	$178.1M-32.5%	$263.7M+30.6%	$201.9M-61.6%	$525.2M
Goodwill	N/A	N/A	$173.2M	N/A	N/A	N/A	$179.6M	N/A
Total Liabilities	$25.5B+7.7%	$23.7B-1.1%	$23.9B+0.5%	$23.8B+3.3%	$23.1B+4.4%	$22.1B-0.6%	$22.2B-0.8%	$22.4B
Total Equity	$6.1B+2.7%	$5.9B0.0%	$5.9B-7.9%	$6.4B+3.8%	$6.2B+4.5%	$5.9B+5.3%	$5.6B-12.8%	$6.4B
Retained Earnings	$5.9B+3.5%	$5.7B+2.5%	$5.5B-8.7%	$6.0B+3.1%	$5.9B+2.3%	$5.7B+3.7%	$5.5B-10.0%	$6.1B

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities, Long-Term Debt.

ORI Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

ORI quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$1.3B	$1.2B-5.6%	$1.2B+40.1%	$880.4M-24.8%	$1.2B-10.8%	$1.3B+10.7%	$1.2B+26.6%	$936.2M+23.1%	$760.5M+68.0%	$452.8M-29.0%	$637.3M-7.4%	$688.2M+479.8%	-$181.2M-126.4%	$686.7M+29.1%	$532.0M+660.6%	-$94.9M
Investing Cash Flow	-$483.7M	-$177.2M-4443.6%	-$3.9M-115.4%	$25.3M+106.1%	-$415.0M+55.7%	-$936.5M-10.8%	-$845.2M-99.1%	-$424.6M-77.3%	-$239.5M+18.5%	-$293.9M+71.6%	-$1.0B-130.4%	-$449.8M-938.8%	-$43.3M+90.5%	-$457.6M-12267.6%	-$3.7M+98.0%	-$187.1M
Financing Cash Flow	-$556.4M	-$925.7M+24.5%	-$1.2B-56.7%	-$783.2M+5.9%	-$832.7M-148.0%	-$335.7M-11.9%	-$300.0M+43.7%	-$533.1M+2.5%	-$546.5M-206.2%	-$178.5M-146.4%	$385.0M+278.9%	-$215.2M-203.5%	$207.9M+217.5%	-$176.9M+66.0%	-$520.0M-309.8%	$247.8M
Dividends Paid	$912.1M	$782.6M+187.8%	$271.9M-1.3%	$275.5M-52.5%	$579.7M-43.1%	$1.0B+307.5%	$250.1M-53.6%	$538.7M+8.0%	$498.8M+150.9%	$198.8M+2.6%	$193.8M+1.3%	$191.3M+1.6%	$188.3M+1.9%	$184.8M+1.8%	$181.5M+1.7%	$178.4M
Share Buybacks	$318.5M	$123.8M-86.9%	$942.2M+76.0%	$535.3M+90.4%	$281.2M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$199.7M-29.0%	$281.4M+19.8%	$234.9M-58.3%	$563.9M+321.4%	$133.8M-42.3%	$231.7M-35.9%	$361.7M-23.8%	$474.8M
Investing Cash Flow	-$537.1M-203.6%	$518.2M+719.1%	-$83.7M+78.0%	-$381.1M-170.7%	-$140.8M-132.9%	$428.4M+1039.5%	-$45.6M-139.8%	$114.5M
Financing Cash Flow	$553.2M+164.3%	-$860.8M-559.6%	-$130.5M-10.3%	-$118.3M-50.7%	-$78.5M+86.9%	-$598.4M+6.4%	-$639.2M-173.9%	-$233.4M
Dividends Paid	$76.6M-89.0%	$693.8M+879.9%	$70.8M-0.1%	$70.9M-2.9%	$73.0M-87.1%	$567.9M+775.0%	$64.9M-2.3%	$66.4M
Share Buybacks	$60.2M-62.3%	$159.8M+189.5%	$55.2M+27.5%	$43.3M	$0-100.0%	$25.3M-85.5%	$174.4M+5.8%	$164.9M

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.

ORI Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

ORI quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Net Margin	10.2%-0.1pp	10.4%+2.1pp	8.3%-0.2pp	8.5%-7.9pp	16.4%+8.6pp	7.8%-6.4pp	14.2%+8.2pp	5.9%-3.0pp	8.9%+1.0pp	7.9%+0.6pp	7.3%-0.1pp	7.4%-0.8pp	8.2%+9.6pp	-1.4%+1.6pp	-3.0%
Return on Equity	15.8%+0.6pp	15.2%+5.8pp	9.3%-1.8pp	11.1%-11.1pp	22.3%+13.2pp	9.0%-8.6pp	17.6%+10.4pp	7.2%-4.6pp	11.8%+1.4pp	10.5%-0.4pp	10.9%+0.4pp	10.4%-1.4pp	11.9%+13.8pp	-1.9%+1.8pp	-3.7%
Return on Assets	3.1%+0.1pp	3.1%+0.8pp	2.3%-0.5pp	2.7%-3.4pp	6.1%+3.7pp	2.5%-2.6pp	5.0%+3.1pp	1.9%-1.0pp	2.9%+0.4pp	2.5%0.0pp	2.5%+0.1pp	2.4%-0.3pp	2.7%+3.1pp	-0.4%+0.5pp	-0.9%
Debt-to-Equity	4.05+0.1x	3.96+0.8x	3.13+0.1x	3.08+0.5x	2.62-0.1x	2.69+0.2x	2.51-0.2x	2.76-0.3x	3.10-0.1x	3.17-0.2x	3.41+0.1x	3.33-0.1x	3.38-0.1x	3.51+0.3x	3.25

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Net Margin	12.9%-0.9pp	13.8%+5.1pp	8.6%-2.9pp	11.5%+2.3pp	9.3%-2.3pp	11.6%+6.3pp	5.3%-9.2pp	14.5%
Return on Equity	5.3%-0.3pp	5.6%+2.1pp	3.5%-0.9pp	4.3%+1.0pp	3.3%-0.8pp	4.1%+2.3pp	1.9%-3.4pp	5.3%
Return on Assets	1.0%-0.1pp	1.1%+0.4pp	0.7%-0.2pp	0.9%+0.2pp	0.7%-0.2pp	0.9%+0.5pp	0.4%-0.8pp	1.2%
Debt-to-Equity	4.20+0.2x	4.000.0x	4.05+0.3x	3.710.0x	3.730.0x	3.73-0.2x	3.96+0.5x	3.48

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.

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Where Old Republic Ranks

Frequently Asked Questions

What is Old Republic's annual revenue?

Old Republic (ORI) reported $9.1B in total revenue for fiscal year 2025. This represents a 11.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Old Republic's revenue growing?

Old Republic (ORI) revenue grew by 11.0% year-over-year, from $8.2B to $9.1B in fiscal year 2025.

Is Old Republic profitable?

Yes, Old Republic (ORI) reported a net income of $935.4M in fiscal year 2025, with a net profit margin of 10.2%.

What is Old Republic's net profit margin?

Old Republic (ORI) had a net profit margin of 10.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Old Republic pay dividends?

Yes, Old Republic (ORI) paid $3.66 per share in dividends during fiscal year 2025.

What is Old Republic's return on equity (ROE)?

Old Republic (ORI) has a return on equity of 15.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Old Republic's operating cash flow?

Old Republic (ORI) generated $1.2B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Old Republic's total assets?

Old Republic (ORI) had $29.9B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Old Republic buy back shares?

Yes, Old Republic (ORI) spent $123.8M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Old Republic have outstanding?

Old Republic (ORI) had 246M shares outstanding as of fiscal year 2025.

What is Old Republic's debt-to-equity ratio?

Old Republic (ORI) had a debt-to-equity ratio of 4.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Old Republic's return on assets (ROA)?

Old Republic (ORI) had a return on assets of 3.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Old Republic's Piotroski F-Score?

Old Republic (ORI) has a Piotroski F-Score of 6 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Old Republic's earnings high quality?

Old Republic (ORI) has an earnings quality ratio of 1.24x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Old Republic?

Old Republic (ORI) scores 49 out of 100 on our Financial Health Score, indicating moderate standing within its insurers peer group. The score is a 0-100 composite of six dimensions (Loss Ratio, Premium Growth, Capital, Investment Yield, Combined Ratio, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.