Old Republic International Corporation (ORI) Key Metrics
ORI valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $9.58B
- Enterprise value
- $11.10B
- P/E (TTM)
- 8.8 10-yr median 11.3
- Forward P/E
- 11.4
- PEG ratio
- 1.39
- Price / sales
- 1.0 10-yr median 1.0
- Price / book
- 1.5 10-yr median 1.2
- EV / EBITDA
- —
- Dividend yield
- 3.18% $1.26 a year
- Beta
- 0.59
ORI key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsORI valuation Price multiples at each fiscal year-end price.
ORI returns How much profit the business earns on the capital it uses.
ORI per-share figures Results divided by the shares outstanding at year-end.
ORI financial health Debt, liquidity and how easily interest is covered.
ORI efficiency & capital use Working capital cycle and where the cash goes.
ORI valuation history
ORI returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ORI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ORI cash returned to shareholders
ORI price vs earnings per share
ORI key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $11.39B | $9.52B | $8.39B | $7.32B | $7.46B | $5.89B | $6.74B | $6.19B | $6.40B | $5.63B |
| Enterprise value | $9.75B | −$2.58B | −$3.39B | −$3.37B | −$1.95B | −$4.11B | −$2.67B | −$2.51B | −$2.30B | −$2.81B |
| P/E ratio | 12.2 | 11.2 | 14.0 | 10.7 | 4.9 | 10.5 | 6.4 | 16.7 | 11.4 | 12.1 |
| Price / sales | 1.3 | 1.2 | 1.2 | 0.9 | 0.8 | 0.8 | 0.9 | 1.0 | 1.0 | 1.0 |
| Price / book | 1.9 | 1.7 | 1.3 | 1.2 | 0.3 | 0.3 | 0.3 | 1.2 | 1.4 | 1.3 |
| Price / free cash flow | 9.8 | 7.7 | 9.5 | 6.3 | 5.7 | 5.0 | 7.2 | 8.1 | 14.1 | 8.8 |
| Price / operating cash flow | 9.8 | 7.7 | 9.5 | 6.3 | 5.7 | 5.0 | 7.2 | 8.1 | 14.1 | 8.8 |
| EV / sales | 1.1 | -0.3 | -0.5 | -0.4 | -0.2 | -0.6 | -0.4 | -0.4 | -0.4 | -0.5 |
| EV / EBITDA | 7.9 | — | — | — | — | — | — | — | — | — |
| EV / free cash flow | 8.4 | — | — | — | — | — | — | — | — | — |
| Earnings yield | 8.2% | 9.0% | 7.1% | 9.4% | 20.6% | 9.5% | 15.7% | 6.0% | 8.8% | 8.3% |
| Free cash flow yield | 10.2% | 12.9% | 10.5% | 16.0% | 17.6% | 20.1% | 13.9% | 12.3% | 7.1% | 11.3% |
| Dividend yield | 6.9% | 2.9% | 3.3% | 7.9% | 13.7% | 4.2% | 8.0% | 8.1% | 3.1% | 3.4% |
| Shareholder yield (dividends + buybacks) | 8.0% | 12.7% | 9.7% | 11.8% | 13.7% | 5.1% | 8.0% | 8.9% | 3.1% | 3.4% |
| Share price at fiscal year-end | $45.64 | $36.19 | $29.40 | $24.15 | $24.58 | $19.71 | $22.37 | $20.57 | $21.38 | $19.00 |
| Per share | ||||||||||
| Revenue per share | $36.40 | $31.28 | $25.43 | $26.65 | $30.76 | $23.97 | $23.95 | $20.00 | $20.92 | $19.91 |
| Earnings per share | $3.75 | $3.24 | $2.10 | $2.26 | $5.05 | $1.87 | $3.51 | $1.23 | $1.87 | $1.58 |
| Operating cash flow per share | $4.66 | $4.69 | $3.08 | $3.86 | $4.32 | $3.96 | $3.11 | $2.53 | $1.51 | $2.15 |
| Free cash flow per share | $4.66 | $4.69 | $3.08 | $3.86 | $4.32 | $3.96 | $3.11 | $2.53 | $1.51 | $2.15 |
| Cash per share | $12.96 | $52.04 | $46.85 | $41.84 | $37.54 | $38.02 | $34.46 | $32.17 | $33.89 | $33.65 |
| Book value per share | $23.69 | $21.35 | $22.46 | $20.33 | $76.21 | $72.64 | $66.36 | $17.10 | $15.81 | $15.09 |
| Tangible book value per share | $20.45 | $18.65 | $20.37 | $19.16 | $75.07 | $71.47 | $65.20 | $15.47 | $14.28 | $13.62 |
| Dividends per share | $3.13 | $1.03 | $0.97 | $1.91 | $3.36 | $0.84 | $1.79 | $1.66 | $0.66 | $0.65 |
| Capex per share | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Debt per share | $6.37 | $6.04 | $5.57 | $6.58 | $6.54 | $4.56 | $3.23 | $3.26 | $4.84 | $5.16 |
| Shares outstanding | 249.6M | 263.2M | 285.5M | 303.3M | 303.7M | 298.9M | 301.2M | 301.0M | 299.4M | 296.4M |
| Change in shares outstanding | −5.1% | −7.8% | −5.9% | −0.1% | +1.6% | −0.8% | +0.1% | +0.5% | +1.0% | +0.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 16.2% | 14.2% | 9.5% | 4.7% | 6.8% | 2.7% | 8.4% | 7.5% | 12.2% | 11.2% |
| Return on invested capital (ROIC) | — | — | — | — | 11.1% | 4.1% | 27.1% | — | — | — |
| Return on assets (ROA) | 3.2% | 3.1% | 2.3% | 2.7% | 6.4% | 2.5% | 5.2% | 1.9% | 3.0% | 2.6% |
| Return on tangible assets | 3.2% | 3.1% | 2.3% | 2.8% | 6.2% | 2.5% | 5.1% | 2.0% | 3.0% | 2.6% |
| Free cash flow margin | 12.8% | 15.0% | 12.1% | 14.5% | 14.0% | 16.5% | 13.0% | 12.6% | 7.2% | 10.8% |
| Income quality (OCF / net income) | 1.24 | 1.45 | 1.47 | 1.71 | 0.85 | 2.12 | 0.89 | 2.05 | 0.81 | 1.36 |
| Financial health | ||||||||||
| Total debt | $1.59B | $1.59B | $1.59B | $2.00B | $1.99B | $1.36B | $973.9M | $981.3M | $1.45B | $1.53B |
| Cash & short-term investments | $3.23B | $13.70B | $13.38B | $12.69B | $11.40B | $11.37B | $10.38B | $9.68B | $10.15B | $9.97B |
| Net debt | −$1.64B | −$12.11B | −$11.78B | −$10.69B | −$9.41B | −$10.00B | −$9.41B | −$8.70B | −$8.70B | −$8.44B |
| Debt / equity | 0.27 | 0.28 | 0.25 | 0.32 | 0.09 | 0.06 | 0.05 | 0.19 | 0.31 | 0.34 |
| Debt / assets | 0.05 | 0.06 | 0.06 | 0.08 | 0.08 | 0.06 | 0.05 | 0.05 | 0.07 | 0.08 |
| Net debt / EBITDA | −1.33 | −10.56 | −19.69 | −11.23 | −5.30 | −17.95 | −7.91 | −18.12 | −11.03 | −11.47 |
| Current ratio | 3.40 | 6.50 | 6.26 | 50.68 | 45.49 | 43.53 | 1.42 | 1.03 | 0.02 | 0.02 |
| Quick ratio | 3.40 | 6.50 | 10.65 | 61.67 | 55.09 | 52.41 | 1.61 | 1.33 | 1.39 | 1.42 |
| Interest coverage | 16.9 | 13.8 | 8.5 | 12.9 | 31.6 | 12.7 | 29.7 | 11.4 | 12.5 | 14.7 |
| Working capital | $10.10B | $20.00B | $18.66B | $19.82B | $17.73B | $16.92B | $4.65B | $439.2M | −$12.93B | −$12.37B |
| Invested capital | $4.27B | −$6.49B | −$5.37B | −$4.53B | $13.73B | $11.71B | $10.58B | −$3.56B | −$3.96B | −$3.97B |
| Tangible asset value | $5.12B | $4.91B | $5.81B | $5.81B | $22.80B | $21.36B | $19.64B | $4.66B | $4.27B | $4.04B |
| Net current asset value | −$9.63B | $1.41B | $2.12B | $1.23B | $16.29B | $16.22B | $14.59B | −$542.2M | −$14.38B | −$13.90B |
| Graham number | $44.71 | $39.45 | $32.55 | $32.18 | $93.08 | $55.27 | $72.36 | $21.76 | $25.81 | $23.13 |
| Graham net-net per share | −$53.07 | −$6.71 | −$29.69 | −$9.39 | $41.80 | $43.37 | $40.52 | −$8.94 | −$33.08 | −$32.00 |
| Capital allocation | ||||||||||
| Dividends paid | $782.6M | $271.9M | $275.5M | $579.7M | $1.02B | $250.1M | $538.7M | $498.8M | $198.8M | $193.8M |
| Share buybacks (net) | $123.8M | $942.2M | $535.3M | $281.2M | $0 | $50.0M | $0 | $50.0M | $0 | $0 |
| Dividend payout ratio | 83.6% | 31.9% | 46.0% | 84.5% | 66.4% | 44.8% | 51.0% | 134.6% | 35.5% | 41.5% |
| Dividends + buybacks / free cash flow | 77.8% | 98.4% | 92.1% | 73.5% | 77.7% | 25.3% | 57.5% | 72.2% | 43.9% | 30.4% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Capex / operating cash flow | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Capex / depreciation | — | 18.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Stock-based compensation / revenue | — | — | 0.3% | 0.1% | 0.0% | 0.0% | 0.1% | 0.1% | 0.1% | 0.1% |
| SG&A / revenue | 0.2% | 0.3% | 0.2% | 58.4% | 52.9% | 55.0% | 45.4% | 51.2% | 47.8% | 47.7% |
| Efficiency | ||||||||||
| Days sales outstanding | 380.6 | 378.1 | 391.5 | 321.8 | 247.7 | 286.6 | 260.5 | 298.3 | 276.2 | 283.2 |
| Days of inventory on hand | — | — | -80,069.0 | -617.1 | -559.6 | -417.4 | -426.6 | -1,625.0 | -2,624.9 | -1,370.4 |
| Days payables outstanding | — | — | 9,868.2 | 146.2 | 121.1 | 99.0 | 81.0 | 80.1 | 75.7 | 72.0 |
| Cash conversion cycle (days) | — | — | -89,545.7 | -441.5 | -432.9 | -229.8 | -247.1 | -1,406.8 | -2,424.5 | -1,159.2 |
| Receivables turnover | 0.96 | 0.97 | 0.93 | 1.13 | 1.47 | 1.27 | 1.40 | 1.22 | 1.32 | 1.29 |
| Payables turnover | — | — | 0.04 | 2.50 | 3.01 | 3.69 | 4.51 | 4.56 | 4.82 | 5.07 |
| Asset turnover | 0.31 | 0.30 | 0.28 | 0.32 | 0.39 | 0.33 | 0.36 | 0.31 | 0.33 | 0.33 |
| Average receivables | $9.48B | $8.53B | $7.78B | $7.13B | $6.34B | $5.63B | $5.15B | $4.92B | $4.74B | $4.58B |
| Average payables | — | — | $1.23B | $972.7M | $795.7M | $670.7M | $570.7M | $539.8M | $514.3M | $463.4M |
| Average inventory | — | — | −$9.98B | −$4.10B | −$3.68B | −$2.83B | −$3.01B | −$10.96B | −$17.83B | −$8.82B |
| Intangibles / total assets | 2.7% | 2.6% | 2.2% | 1.4% | 1.4% | 1.5% | 1.7% | 2.5% | 2.4% | 2.3% |
Computed from ORI's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ORI valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Old Republic International traded at 12.2 times earnings, against a 10-year median of 11.3. Based on the latest twelve months, the trailing P/E is 8.8 and the forward P/E is 11.4. Old Republic International earned a return on equity of 16.2% in fiscal 2025. It ended the year with $1.6 billion of debt and $3.2 billion in cash and short-term investments, a net cash position of $1.6 billion. It returned $906.4 million to shareholders: $782.6 million in dividends and $123.8 million in share buybacks, 78% of free cash flow. The share count fell 15.8% from 296.4M to 249.6M over 9 years.
See the ORI income statement, the ORI chart for price history, or the ORI stock overview for the latest quote and news.
ORI key metrics FAQ
What is Old Republic International's P/E ratio?
Old Republic International's trailing P/E ratio is 8.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 11.4. At the end of fiscal 2025 it was 12.2, compared with a 10-year median of 11.3.
What is Old Republic International's EV/EBITDA?
Old Republic International's enterprise value was 7.9 times EBITDA at the end of fiscal 2025 (enterprise value $9.7 billion, EBITDA $1.2 billion).
What is Old Republic International's return on equity?
Old Republic International's return on equity (ROE) was 16.2% in fiscal 2025: net income of $936.1 million on average shareholders' equity of $5.8 billion.
How much debt does Old Republic International have?
Old Republic International had total debt of $1.6 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.27 and more cash than debt.
What is Old Republic International's dividend yield?
Old Republic International's forward dividend yield is 3.18%. Old Republic International paid $782.6 million in dividends in fiscal 2025 ($3.13 per share), a payout ratio of 83.6%.
Does Old Republic International buy back its shares?
Yes. Old Republic International spent $123.8 million on net share repurchases in fiscal 2025 Shares outstanding changed −5.1% over the year, to 249.6M..
What is Old Republic International's free cash flow yield?
Old Republic International generated $1.2 billion of free cash flow in fiscal 2025, a free cash flow yield of 10.2% on its market value at year-end ($11.4 billion).
What is Old Republic International's current ratio?
Old Republic International's current ratio was 3.40 at the end of fiscal 2025: current assets were 3.40 times current liabilities.