Old Republic International Corp. (ORI) intrinsic value & 10-year financials
Old Republic International Corp. (ORI) has a Graham intrinsic value of $78.63 per share. At $39.66 on Oct 17, 2026, the stock trades 50% below that value. Over the last 10 fiscal years revenue grew 5.0% a year to $9.1B, with an average return on invested capital of 10.9%.
- Graham intrinsic value
- $78.63
- Share price (Oct 17, 2026)
- $39.66
- Price vs Graham value
- 50% below
- Market cap
- $10.0B
- Revenue (FY2025)
- $9.1B
- Revenue growth (10-yr CAGR)
- 5.0%
- ROIC (10-yr avg)
- 10.9%
- Free cash flow (FY2025)
- —
ORI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $9.1B | $935.4M | $3.72 | — | — | 13.1% |
| FY2024 | $8.2B | $852.7M | $3.24 | — | — | 11.5% |
| FY2023 | $7.3B | $598.6M | $2.10 | — | — | 7.7% |
| FY2022 | $8.1B | $686.4M | $2.26 | — | — | 8.6% |
| FY2021 | $9.3B | $1.5B | $5.05 | — | — | 20.0% |
| FY2020 | $7.2B | $558.6M | $1.87 | — | — | 8.0% |
| FY2019 | $7.2B | $1.1B | $3.51 | — | — | 16.3% |
| FY2018 | $6.0B | $370.5M | $1.24 | — | — | 6.1% |
| FY2017 | $6.3B | $560.5M | $1.92 | — | — | 9.4% |
| FY2016 | $5.9B | $466.9M | $1.62 | — | — | 8.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
OLD REPUBLIC INTERNATIONAL CORP has demonstrated mature, steady growth, with revenue compounding at 5.0% annually over the past decade.
OLD REPUBLIC INTERNATIONAL CORP returns on capital have been average, hovering around 10.9% ROIC over the decade.
Over the decade, OLD REPUBLIC INTERNATIONAL CORP shows that management has aggressively returned capital to shareholders by retiring 15.2% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, OLD REPUBLIC INTERNATIONAL CORP is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $78.63 per share.