Old Republic International
ORI on NYSE. Old Republic sells specialty and title insurance to businesses and individuals. Market value $9.1bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
What to watch out for
See Financial services stocks that passed both tests
This is not advice. Check the numbers below.
Yearly profit per dollar of owners' money: 14 cents. Above 10 is good.
What you pay for each dollar of net assets: $1.51.
Profit per $100 you pay: $12.40.
Quality score: 64 of 100. Price score: 87 of 100. Our list needs 70 on quality and 60 on price.
$38.01 a share, 4% above its 1-year low
Over the past year the price has ranged from $36.65 to $46.76.
Dividend: 8.5% a year
Paid every year for at least 5 years
Payouts have jumped around in recent years, so this may not repeat.
Yields this high often come before a cut. Check the company's latest news.
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $9.3bn | $8.1bn | $7.3bn | $8.2bn | $9.1bn |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.30bn | 0.28bn | 0.25bn | 0.25bn | 0.24bn |
Health checks
- Free cash flow positiveDoesn't apply to banks and insurers
- Accounting checksDoesn't apply to banks and insurers
- DebtDoesn't apply to banks and insurers
- Revenue growth, five yearsSlow, 5.0% a year
- Buying back its own sharesYes, 21% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $2.5 billion last quarter, up 13% on a year ago.
- Profit: $322 million, up 58% on a year ago.
- 2% fewer shares than a year ago. Each share owns a bit more of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $2.3bn |
| December 2024 | $2.0bn |
| March 2025 | $2.1bn |
| June 2025 | $2.2bn |
| September 2025 | $2.4bn |
| December 2025 | $2.4bn |
| March 2026 | $2.4bn |
| June 2026 | $2.5bn |
| Quarter to | Amount |
|---|---|
| September 2024 | $339m |
| December 2024 | $105m |
| March 2025 | $245m |
| June 2025 | $204m |
| September 2025 | $280m |
| December 2025 | $206m |
| March 2026 | $330m |
| June 2026 | $322m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 26 February 2026
- Next quarterly (estimated, 10-Q)
- 30 October 2026
Who owns it
5 long-term investors we follow own it, unchanged from 5 last quarter. 653 funds in all.
- Heartland AdvisorsBill Nasgovitz
- Value
- $7m
- Share of fund
- 0.3%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| LSV Asset ManagementJosef Lakonishok | $96m | 0.2% | Cut |
| Gotham Asset ManagementJoel Greenblatt | $54m | 0.1% | Added |
| First Eagle Investment ManagementMatthew McLennan | $23m | <0.1% | Added |
| Heartland AdvisorsBill Nasgovitz | $7m | 0.3% | |
| Brandes Investment PartnersCharles Brandes | $2m | <0.1% | Added |
Largest holders overall
- BlackRock$1.1bn
- Bank of New York Mellon$492m
- Vanguard Portfolio Management$475mCut
- State Street$412m
- Vanguard Capital Management$405m
- Geode Capital Management$321m
- Charles Schwab Investment Management$307mAdded
- Dimensional Fund Advisors LP$286mAdded
- Victory Capital Management$256mCut
- AQR Capital Management$206mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
No one has reported a stake above 5% since December 2024.
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 2 insiders bought $100,022 of shares on the open market. 3 sold $2m.
- MONROE CAROLYNSVP - Title InsuranceSold
- Date
- 1 September 2026
- Shares
- 4,386
- Price
- $42.01
- Value
- $184,256
- MONROE CAROLYNSVP - Title InsuranceSold
- Date
- 11 August 2026
- Shares
- 1,788
- Price
- $42.26
- Value
- $75,561
- LANGE JEFFREYSVPUnderwriting & DistributionSold
- Date
- 29 July 2026
- Shares
- 14,075
- Price
- $43.76
- Value
- $615,922
- OBERST STEPHEN JExecutive Vice PresidentSold
- Date
- 28 July 2026
- Shares
- 13,125
- Price
- $43.96
- Value
- $576,975
- MONROE CAROLYNSVP - Title InsuranceSold
- Date
- 12 May 2026
- Shares
- 13,330
- Price
- $38.76
- Value
- $516,671
- Risch TheraceDirectorBought
- Date
- 1 May 2026
- Shares
- 300
- Price
- $39.90
- Value
- $11,970
- Smith John EricDirectorBought
- Date
- 2 March 2026
- Shares
- 1,135
- Price
- $43.10
- Value
- $48,917
- MONROE CAROLYNSVP - Title InsuranceSold
- Date
- 2 February 2026
- Shares
- 5,526
- Price
- $39.28
- Value
- $217,077
- MONROE CAROLYNSVP - Title InsuranceSold
- Date
- 14 November 2025
- Shares
- 6,680
- Price
- $44.54
- Value
- $297,527
- Risch TheraceDirectorBought
- Date
- 3 November 2025
- Shares
- 1,000
- Price
- $39.14
- Value
- $39,136
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 1 September 2026 | MONROE CAROLYN SVP - Title Insurance | Sold | 4,386 | $42.01 | $184,256 |
| 11 August 2026 | MONROE CAROLYN SVP - Title Insurance | Sold | 1,788 | $42.26 | $75,561 |
| 29 July 2026 | LANGE JEFFREY SVPUnderwriting & Distribution | Sold | 14,075 | $43.76 | $615,922 |
| 28 July 2026 | OBERST STEPHEN J Executive Vice President | Sold | 13,125 | $43.96 | $576,975 |
| 12 May 2026 | MONROE CAROLYN SVP - Title Insurance | Sold | 13,330 | $38.76 | $516,671 |
| 1 May 2026 | Risch Therace Director | Bought | 300 | $39.90 | $11,970 |
| 2 March 2026 | Smith John Eric Director | Bought | 1,135 | $43.10 | $48,917 |
| 2 February 2026 | MONROE CAROLYN SVP - Title Insurance | Sold | 5,526 | $39.28 | $217,077 |
| 14 November 2025 | MONROE CAROLYN SVP - Title Insurance | Sold | 6,680 | $44.54 | $297,527 |
| 3 November 2025 | Risch Therace Director | Bought | 1,000 | $39.14 | $39,136 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 26 Feb 2026, plus the 10-Q filed 31 Jul 2026 and 5 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.