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what it is
Old Republic sells insurance across general, title, mortgage guaranty, and life/disability lines.
how it gets paid
Last year Ori made $9.1B in revenue.
why it's growing
Revenue grew 282.4% last year. 94.7% means the company spent $94.70 on claims and expenses for every $100 of premiums.
what just happened
ORI posted $2.4B of quarterly revenue, up 19%.
At a glance
A balance sheet — strong enough to weather a downturn
85/100 earnings predictability — you can trust these numbers
13.5x trailing p/e — the market's not buying it — or you found a deal
2.9% dividend yield — cash in your pocket every quarter
11.8% return on capital — nothing to write home about
xvary composite: 72/100 — average
What they do
Old Republic sells insurance across general, title, mortgage guaranty, and life/disability lines.
ORI runs 4 businesses, so one weak line does not own your year. General insurance, title, mortgage guaranty, and life/disability all feed the same $9.1B revenue base. balance sheet grade → debt and cash strength → A, and long-term debt is $1.6B, or 13% of capital, so your downside is not a borrow-heavy balance sheet. return on capital → profit on money invested → 11.8%, so the business is still earning on the cash you put in.
How they make money
$9.1B
annual revenue · their business grew +282.4% last year
total revenue
$9.1B
+282.4%
The products that matter
writes insurance policies
Insurance underwriting
$9.1B · effectively the whole snapshot
This page only gives one revenue bucket, so underwriting is the story: it supports the full $9.1B revenue base shown here.
core
Key numbers
$9.1B
annual revenue
You are buying a $9.1B insurer, not a tiny niche book. Size helps when one line cools and another keeps paying.
2.9%
dividend yield
You get paid 2.9% a year while you wait. That is real cash, not a PowerPoint promise.
11.8%
return on capital
Return on capital → profit on money invested → 11.8% means the business still earns above the money it puts to work.
13.5x
price/earnings
Price/earnings → price divided by earnings → 13.5x says the market is paying a normal price for the profit stream.
Financial health
A
strength
- balance sheet grade A — very strong financial position
- risk rank 2 — safer than 80% of stocks
- price stability 90 / 100
- long-term debt $1.6B (13% of capital)
- return on equity 14% — $0.14 profit for every $1 investors have put in
A — among the top-rated companies for balance sheet quality.
Total return vs. market
You invested $10,000 in ORI 3 years ago → it's now worth $19,680.
The index would have given you $13,880.
source: institutional data · total return
What just happened
missed estimates
ORI posted $2.4B of quarterly revenue, up 19%.
EDGAR says revenue was $2.4B and profit per share was $0.82. Yahoo Finance showed $0.74 versus $0.88 expected, so the market saw a miss while the filing showed a strong from a year ago jump.
$2.4B
revenue
$0.82
profit/share
94.7%
combined ratio
the number that mattered
94.7% means the company spent $94.70 on claims and expenses for every $100 of premiums. Lower is better, and 94.7% is not a blowout.
-
old republic international registered a decent earnings improvement for full-year 2025.
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the insurer benefited from a more-than-10% increase in net premiums earned for the full year, due to new business wins and healthy price increases on existing business.
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the company also benefited from a decent increase in net investment income for the year.though this line item has been pressured to an extent by reduced bond reinvestment rates, a higher level of invested assets has provided support.
-
these positive factors helped to combat a higher combined ratio for the year (lower is better), though the underwriting margin remained in positive territory.
-
we look for the story to remain largely the same in each of the next two years.the broader insurance market has been in a secular upswing for quite some time and we believe that it has some runway left despite some headwinds. net premiums earned ought to continue to trend higher, thanks to increased new business opportunities and favorable pricing trends. investment income is worth keeping a close eye on, however, given the aforementioned bond-reinvestment-rate pressures.
source: company earnings report, 2026
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What could go wrong
the #1 risk is underwriting discipline across Old Republic's insurance book.
med
underwriting discipline slips
ORI is an insurer. If pricing gets loose or claims come in worse than expected, the business model feels it fast.
this pressure touches the full $9.1B revenue base shown in this snapshot
med
the +282.4% revenue jump proves temporary
A growth number that large needs context. This page does not give it. If the jump was helped by an unusual comparison, next year's optics can get worse fast.
the market could stop rewarding the stock like a steady grower and treat it like a one-off
low
upside is modest if the multiple stays where it is
The 3–5 year midpoint target is $47 versus a stock price of $42.57. That leaves a smaller margin for disappointment than the three-year return chart implies.
about 10% target upside means dividends and execution need to do more of the work
These risks pressure the same core story: a $9.1B insurer priced for steadiness, not for mistakes, with only about 10% upside to the midpoint target before dividends.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
whether EPS still supports the valuation
$3.50 in FY2027 EPS implies about 12.2x forward earnings at today's $42.57 price. If estimates slip, the stock stops looking cheap.
calendar
the next earnings report
With the stock near its high and the target midpoint at $47, the next print matters more than usual. You want confirmation, not just stability.
risk
whether the +282.4% revenue jump has a clean explanation
This is the biggest unresolved number on the page. If the growth was boosted by an unusual base, comparisons can get a lot less flattering.
trend
institutional buying streak
Net buying has lasted three quarters. If that turns while the stock sits near $44, pay attention to what the big holders are seeing.
Analyst rankings
earnings predictability
85 / 100
In human-speak, analysts see a business that usually behaves itself.
risk rank
2
That places ORI among the safer part of the market. You're not buying maximum excitement here.
price stability
90 / 100
The stock has been unusually stable. For an income-oriented insurer, that's part of the appeal.
source: institutional data
Institutional activity
institutions have been net buying for 3 consecutive quarters — 321 buyers vs. 275 sellers in 3q2025. total institutional holdings: 0.2B shares. net buying for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$35
$59
$43
current price
$47
target midpoint · +10% from current · 3-5yr high: $75 (+75% · 17% ann'l return)
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