Old Republic International Corporation (ORI) Balance Sheet
ORI balance sheet, 2025
December 31, 2025 · U.S. dollars$29.86B assets = $23.93B liabilities + $5.93B equity
Both columns are drawn to the same scale: what ORI owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ORI financial health
Descriptive bands, not a rating. Fiscal 2025.
ORI balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $18.59B2016 | $29.86B2025 | +5.4%/yr | |
| Total liabilities | $14.12B2016 | $23.93B2025 | +6.0%/yr | |
| Shareholders’ equity | $4.47B2016 | $5.91B2025 | +3.2%/yr | |
| Cash & short-term investments | $9.97B2016 | $3.23B2025 | −11.8%/yr | |
| Total debt | $1.53B2016 | $1.59B2025 | +0.4%/yr | |
| Net cash (debt) | $8.44B2016 | $1.64B2025 | −$6.8B | |
| Working capital | −$12.37B2016 | $10.10B2025 | +$22.5B | |
| Book value per share | $15.092016 | $23.692025 | +5.1%/yr | |
| Debt / equity | 0.342016 | 0.272025 | −0.07 | |
| Shares outstanding | 296.4M2016 | 249.6M2025 | −1.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ORI assets
ORI liabilities and equity
ORI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ORI balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $3.23B | $13.70B | $13.38B | $12.69B | $11.40B | $11.37B | $10.38B | $9.68B | $10.15B | $9.97B |
| Cash & equivalents | $263.2M | $201.9M | $202.8M | $12.69B | $11.40B | $11.37B | $10.38B | $9.68B | $10.15B | $9.97B |
| Short-term investments | $2.97B | $13.50B | $13.17B | $12.61B | $11.24B | $11.25B | $4.03B | $3.38B | $3.27B | $2.90B |
| Receivables | $9.94B | $9.02B | $8.04B | $7.53B | $6.72B | $5.96B | $5.30B | $5.00B | $4.84B | $4.64B |
| Inventory | $0 | $0 | −$15.58B | −$4.39B | −$3.82B | −$3.53B | −$2.12B | −$3.89B | −$18.02B | −$17.63B |
| Other current assets | $1.13B | $921.6M | $16.38B | $4.39B | $3.82B | $3.53B | $2.12B | $2.84B | $3.33B | $3.24B |
| Total current assets | $14.30B | $23.63B | $22.21B | $20.22B | $18.12B | $17.32B | $15.68B | $13.64B | $292.9M | $223.7M |
| Property, plant & equipment (net) | $0 | $0 | $13.07B | −$677.8M | $4.62B | $3.53B | $700,000 | −$771.0M | $2.71B | $3.15B |
| Goodwill & intangible assets | $809.4M | $710.9M | $596.1M | $356.2M | $349.0M | $350.2M | $350.2M | $490.3M | $458.5M | $434.7M |
| Long-term investments | $16.81B | $16.04B | $15.83B | $3.22B | $5.30B | $15.42B | $14.45B | $13.12B | $13.42B | $12.87B |
| Other non-current assets | $0 | $0 | $0 | $2.04B | $0 | $0 | $0 | $0 | $2.52B | $1.91B |
| Total assets | $29.86B | $27.84B | $26.50B | $25.16B | $24.98B | $22.82B | $21.08B | $19.33B | $19.40B | $18.59B |
| Liabilities | ||||||||||
| Accounts payable | — | — | $1.38B | $1.08B | $866.0M | $725.4M | $616.0M | $525.4M | $554.2M | $474.4M |
| Short-term debt | $52.3M | $0 | $399.5M | $399.0M | $398.4M | $397.9M | $974.0M | $981.4M | $1.45B | $1.53B |
| Deferred revenue | $3.98B | $3.51B | $3.04B | −$680.4M | −$467.6M | −$327.5M | — | — | — | — |
| Total current liabilities | $4.20B | $3.63B | $3.55B | $399.0M | $398.4M | $397.9M | $11.03B | $13.20B | $13.22B | $12.59B |
| Long-term debt | $1.59B | $1.59B | $1.59B | $1.60B | $1.59B | $966.4M | $974.0M | $981.4M | $1.45B | $1.53B |
| Other long-term liabilities | $18.14B | $17.00B | $14.95B | $17.40B | $249.3M | $137.3M | $112.1M | $13.20B | $13.22B | $12.59B |
| Total liabilities | $23.93B | $22.22B | $20.09B | $18.99B | $1.84B | $1.10B | $1.09B | $14.18B | $14.67B | $14.12B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $246.3M | $248.8M | $278.3M | $296.9M | $307.5M | $304.1M | $303.6M | $302.7M | $269.2M | $262.7M |
| Retained earnings (deficit) | $5.52B | $5.52B | $5.64B | $5.32B | $5.21B | $4.39B | $4.39B | $3.85B | $3.21B | $3.21B |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | $163.1M | −$102.4M | −$132.4M | −$522.7M | $78.0M | $284.0M | $77.7M | −$210.0M | $474.2M | $323.6M |
| Minority interest | $14.4M | $0 | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $5.91B | $5.62B | $6.41B | $6.17B | $23.14B | $21.71B | $19.99B | $5.15B | $4.73B | $4.47B |
| Key figures | ||||||||||
| Total debt | $1.59B | $1.59B | $1.59B | $2.00B | $1.99B | $1.36B | $973.9M | $981.3M | $1.45B | $1.53B |
| Net cash (debt) | $1.64B | $12.11B | $11.78B | $10.69B | $9.41B | $10.00B | $9.41B | $8.70B | $8.70B | $8.44B |
| Working capital | $10.10B | $20.00B | $18.66B | $19.82B | $17.73B | $16.92B | $4.65B | $439.2M | −$12.93B | −$12.37B |
| Tangible book value | $5.10B | $4.91B | $5.81B | $5.81B | $22.80B | $21.36B | $19.64B | $4.66B | $4.27B | $4.04B |
| Book value per share | $23.69 | $21.35 | $22.46 | $20.33 | $76.21 | $72.64 | $66.36 | $17.10 | $15.81 | $15.09 |
| Shares outstanding | 249.6M | 263.2M | 285.5M | 303.3M | 303.7M | 298.9M | 301.2M | 301.0M | 299.4M | 296.4M |
| Current ratio | 3.40 | 6.50 | 6.26 | 50.68 | 45.49 | 43.53 | 1.42 | 1.03 | 0.02 | 0.02 |
| Quick ratio | 3.13 | 6.25 | 6.04 | 50.68 | 45.49 | 43.53 | 1.42 | 1.11 | 1.13 | 1.16 |
| Debt / equity | 0.27 | 0.28 | 0.25 | 0.32 | 0.09 | 0.06 | 0.05 | 0.19 | 0.31 | 0.34 |
| Equity / assets | 19.8% | 20.2% | 24.2% | 24.5% | 92.6% | 95.2% | 94.8% | 26.6% | 24.4% | 24.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $2.65B | $2.54B | $3.23B | $3.14B | $2.76B | $2.74B | $13.70B | $3.32B | $3.44B | $3.10B | $13.38B | $12.85B |
| Cash & equivalents | $417.7M | $202.1M | $263.2M | $242.5M | $178.1M | $263.7M | $201.9M | $525.2M | $169.2M | $136.9M | $202.8M | $12.85B |
| Short-term investments | $2.23B | $2.33B | $2.97B | $2.90B | $2.58B | $2.48B | $13.50B | $2.80B | $3.27B | $2.96B | $13.17B | $150.4M |
| Receivables | $3.14B | $2.78B | $9.94B | $10.30B | $9.93B | $9.27B | $9.02B | $9.20B | $8.12B | $7.44B | $7.38B | $8.71B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$5.12B | −$32.64B | −$18.89B | −$15.58B | −$11.71B |
| Other current assets | $0 | $0 | $1.13B | $1.28B | $1.31B | $1.02B | $921.6M | $6.21B | $27.31B | $13.88B | $0 | $5.37B |
| Total current assets | $5.79B | $2.99B | $14.30B | $14.72B | $13.99B | $13.03B | $23.63B | $13.61B | $6.23B | $5.53B | $5.16B | $15.20B |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$3.94B | $1.07B | $13.07B | $2.26B |
| Goodwill & intangible assets | $814.8M | $659.1M | $809.4M | $611.6M | $588.5M | $555.7M | $710.9M | $505.3M | $456.5M | $435.8M | $596.1M | $418.7M |
| Long-term investments | $17.07B | $16.38B | $16.81B | $16.73B | $16.14B | $15.88B | $16.04B | $16.46B | $15.99B | $16.29B | $15.83B | $2.69B |
| Other non-current assets | $7.91B | $1.63B | $0 | $0 | $0 | $0 | $0 | $0 | $8.79B | $3.74B | $0 | $5.84B |
| Total assets | $31.59B | $21.65B | $29.86B | $30.25B | $29.26B | $28.03B | $27.84B | $28.84B | $27.53B | $27.06B | $26.50B | $26.40B |
| Liabilities | ||||||||||||
| Accounts payable | — | — | — | — | — | — | — | $1.60B | $1.21B | $957.0M | $847.1M | $1.47B |
| Short-term debt | — | — | $52.3M | $0 | $0 | $0 | $0 | $1.99B | $399.8M | $399.7M | $399.5M | $399.4M |
| Deferred revenue | $4.56B | $4.10B | $3.98B | $4.15B | $4.02B | $3.66B | $3.51B | $3.68B | −$399.8M | −$354.7M | −$399.5M | −$1.47B |
| Total current liabilities | $22.96B | $4.31B | $4.20B | $4.38B | $4.21B | $3.83B | $3.63B | $19.42B | $9.63B | $9.43B | $9.30B | $25.7M |
| Long-term debt | $1.59B | $1.59B | $1.59B | $1.59B | $1.59B | $1.59B | $1.59B | $1.99B | $1.59B | $1.59B | $1.19B | $1.59B |
| Other long-term liabilities | $15.49B | $14.14B | $18.14B | $17.84B | $17.25B | $16.66B | $17.00B | $991.0M | $19.91B | $19.08B | $18.90B | $18.87B |
| Total liabilities | $25.50B | $15.73B | $23.93B | $23.81B | $23.05B | $22.08B | $22.22B | $22.40B | $21.50B | $20.66B | $20.09B | $20.48B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $241.4M | $242.8M | $246.3M | $247.4M | $248.4M | $248.4M | $248.8M | $253.5M | $258.4M | $271.8M | $278.3M | $280.3M |
| Retained earnings (deficit) | $5.85B | $5.65B | $5.52B | $6.04B | $5.85B | $5.72B | $5.52B | $6.14B | $5.91B | $5.89B | $5.64B | $5.52B |
| Accumulated other comprehensive income | $8.5M | $47.5M | $163.1M | $151.5M | $91.7M | $10.8M | −$102.4M | $106.2M | −$196.6M | −$205.4M | −$132.4M | −$551.1M |
| Minority interest | $15.0M | $13.4M | $14.4M | $16.3M | $17.9M | — | — | — | — | — | — | — |
| Total shareholders' equity | $6.07B | $5.91B | $5.91B | $6.42B | $6.19B | $5.92B | $5.62B | $6.45B | $6.03B | $6.40B | $6.41B | $5.92B |
| Key figures | ||||||||||||
| Total debt | $2.28B | $1.59B | $1.59B | $1.59B | $1.59B | $1.59B | $1.59B | $1.99B | $1.99B | $1.99B | $1.59B | $1.99B |
| Net cash (debt) | $366.8M | $945.2M | $1.64B | $1.55B | $1.17B | $1.15B | $12.11B | $1.34B | $1.45B | $1.11B | $11.78B | $10.86B |
| Working capital | −$17.17B | −$1.32B | $10.10B | $10.34B | $9.79B | $9.19B | $20.00B | −$5.81B | −$3.40B | −$3.90B | −$4.14B | $15.18B |
| Tangible book value | $5.26B | $5.25B | $5.10B | $5.81B | $5.60B | $5.36B | $4.91B | $5.94B | $5.57B | $5.97B | $5.81B | $5.50B |
| Book value per share | $24.68 | $23.68 | $23.69 | $25.73 | $24.78 | $23.70 | $22.45 | $25.10 | $22.98 | $23.24 | $23.12 | $21.13 |
| Shares outstanding | 246.0M | 249.6M | 249.6M | 249.6M | 249.6M | 249.6M | 250.2M | 256.7M | 262.3M | 275.4M | 277.2M | 279.9M |
| Current ratio | 0.25 | 0.69 | 3.40 | 3.36 | 3.32 | 3.40 | 6.50 | 0.70 | 0.65 | 0.59 | 0.56 | 591.53 |
| Quick ratio | 0.25 | 1.23 | 3.13 | 3.07 | 3.01 | 3.13 | 6.25 | 0.64 | 1.20 | 1.12 | 2.23 | 838.57 |
| Debt / equity | 0.38 | 0.27 | 0.27 | 0.25 | 0.26 | 0.27 | 0.28 | 0.31 | 0.33 | 0.31 | 0.25 | 0.34 |
| Equity / assets | 19.2% | 27.3% | 19.8% | 21.2% | 21.1% | 21.1% | 20.2% | 22.3% | 21.9% | 23.7% | 24.2% | 22.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
ORI financial position
At the end of fiscal 2025 (December 31, 2025), Old Republic International had total assets of $29.9 billion (up 7.3% from a year earlier), total liabilities of $23.9 billion and shareholders' equity of $5.9 billion. It held $3.2 billion in cash and short-term investments against $1.6 billion of debt, a net cash position of $1.6 billion. Its current ratio was 3.40. In the latest quarter (ended June 30, 2026) total assets were $31.6 billion and equity $6.1 billion.
Related: ORI income statement, ORI cash flow statement, ORI key metrics. See the ORI stock overview for the latest quote and news.
ORI balance sheet FAQ
What are Old Republic International's total assets?
Old Republic International reported total assets of $29.9 billion at the end of fiscal 2025 (December 31, 2025), compared with $27.8 billion a year earlier.
How much debt does Old Republic International have?
Old Republic International had $1.6 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.27.
How much cash does Old Republic International have?
Old Republic International held $3.2 billion in cash and short-term investments at the end of fiscal 2025; with $1.6 billion of debt that is net cash of $1.6 billion.
What is Old Republic International's book value?
Old Republic International's shareholders' equity (book value) was $5.9 billion at the end of fiscal 2025, or $23.69 per share.
What is Old Republic International's current ratio?
Old Republic International had current assets of $14.3 billion and current liabilities of $4.2 billion, a current ratio of 3.40 (it can cover its short-term obligations).
How much goodwill does Old Republic International have?
Old Republic International carried $809.4 million of goodwill and intangible assets, 2.7% of total assets, at the end of fiscal 2025.