vs
Side-by-side financial comparison of Borr Drilling Ltd (BORR) and RLI CORP (RLI). Click either name above to swap in a different company.
RLI CORP is the larger business by last-quarter revenue ($465.7M vs $267.7M, roughly 1.7× Borr Drilling Ltd). RLI CORP runs the higher net margin — 19.6% vs 13.1%, a 6.5% gap on every dollar of revenue. On growth, RLI CORP posted the faster year-over-year revenue change (6.1% vs -1.5%).
Borr Drilling Ltd is a global offshore drilling contractor owning and operating a modern fleet of high-spec jack-up rigs. It offers drilling services to oil and gas exploration and production firms, with main operations across the North Sea, Southeast Asia, Middle East, and West Africa for shallow-water and marginal field projects.
RLI Corp. is an American insurance company specializing in property insurance and casualty insurance. It is headquartered in Peoria, Illinois.
BORR vs RLI — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $267.7M | $465.7M |
| Net Profit | $35.1M | $91.2M |
| Gross Margin | — | — |
| Operating Margin | 36.0% | 24.4% |
| Net Margin | 13.1% | 19.6% |
| Revenue YoY | -1.5% | 6.1% |
| Net Profit YoY | 10.7% | 123.1% |
| EPS (diluted) | $0.14 | $1.00 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $465.7M | ||
| Q3 25 | — | $509.3M | ||
| Q2 25 | $267.7M | $499.8M | ||
| Q1 25 | — | $407.7M | ||
| Q4 24 | — | $439.1M | ||
| Q3 24 | — | $470.0M | ||
| Q2 24 | $271.9M | $416.4M | ||
| Q1 24 | — | $444.8M |
| Q4 25 | — | $91.2M | ||
| Q3 25 | — | $124.6M | ||
| Q2 25 | $35.1M | $124.3M | ||
| Q1 25 | — | $63.2M | ||
| Q4 24 | — | $40.9M | ||
| Q3 24 | — | $95.0M | ||
| Q2 24 | $31.7M | $82.0M | ||
| Q1 24 | — | $127.9M |
| Q4 25 | — | 24.4% | ||
| Q3 25 | — | 30.9% | ||
| Q2 25 | 36.0% | 31.3% | ||
| Q1 25 | — | 19.3% | ||
| Q4 24 | — | 10.8% | ||
| Q3 24 | — | 24.9% | ||
| Q2 24 | 38.4% | 24.8% | ||
| Q1 24 | — | 36.0% |
| Q4 25 | — | 19.6% | ||
| Q3 25 | — | 24.5% | ||
| Q2 25 | 13.1% | 24.9% | ||
| Q1 25 | — | 15.5% | ||
| Q4 24 | — | 9.3% | ||
| Q3 24 | — | 20.2% | ||
| Q2 24 | 11.7% | 19.7% | ||
| Q1 24 | — | 28.8% |
| Q4 25 | — | $1.00 | ||
| Q3 25 | — | $1.35 | ||
| Q2 25 | $0.14 | $1.34 | ||
| Q1 25 | — | $0.68 | ||
| Q4 24 | — | $-2.87 | ||
| Q3 24 | — | $2.06 | ||
| Q2 24 | $0.12 | $1.78 | ||
| Q1 24 | — | $2.77 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $92.4M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.0B | $1.8B |
| Total Assets | $3.4B | $6.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $92.4M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $195.3M | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $100.0M | ||
| Q2 25 | — | $100.0M | ||
| Q1 25 | — | $100.0M | ||
| Q4 24 | — | $100.0M | ||
| Q3 24 | — | $100.0M | ||
| Q2 24 | — | $100.0M | ||
| Q1 24 | — | $100.0M |
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | $1.0B | $1.7B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | $999.2M | $1.6B | ||
| Q1 24 | — | $1.5B |
| Q4 25 | — | $6.2B | ||
| Q3 25 | — | $6.2B | ||
| Q2 25 | $3.4B | $6.0B | ||
| Q1 25 | — | $5.7B | ||
| Q4 24 | — | $5.6B | ||
| Q3 24 | — | $5.8B | ||
| Q2 24 | $3.2B | $5.5B | ||
| Q1 24 | — | $5.3B |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.06× | ||
| Q1 25 | — | 0.06× | ||
| Q4 24 | — | 0.07× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.06× | ||
| Q1 24 | — | 0.07× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $6.3M | $156.8M |
| Free Cash FlowOCF − Capex | — | $155.0M |
| FCF MarginFCF / Revenue | — | 33.3% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | 0.18× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | $608.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $156.8M | ||
| Q3 25 | — | $179.2M | ||
| Q2 25 | $6.3M | $174.7M | ||
| Q1 25 | — | $103.5M | ||
| Q4 24 | — | $128.1M | ||
| Q3 24 | — | $219.4M | ||
| Q2 24 | $16.0M | $141.8M | ||
| Q1 24 | — | $70.9M |
| Q4 25 | — | $155.0M | ||
| Q3 25 | — | $177.8M | ||
| Q2 25 | — | $173.4M | ||
| Q1 25 | — | $102.5M | ||
| Q4 24 | — | $127.6M | ||
| Q3 24 | — | $219.0M | ||
| Q2 24 | — | $139.1M | ||
| Q1 24 | — | $69.9M |
| Q4 25 | — | 33.3% | ||
| Q3 25 | — | 34.9% | ||
| Q2 25 | — | 34.7% | ||
| Q1 25 | — | 25.1% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 46.6% | ||
| Q2 24 | — | 33.4% | ||
| Q1 24 | — | 15.7% |
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 0.2% |
| Q4 25 | — | 1.72× | ||
| Q3 25 | — | 1.44× | ||
| Q2 25 | 0.18× | 1.41× | ||
| Q1 25 | — | 1.64× | ||
| Q4 24 | — | 3.13× | ||
| Q3 24 | — | 2.31× | ||
| Q2 24 | 0.50× | 1.73× | ||
| Q1 24 | — | 0.55× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BORR
| Transferred Over Time | $256.6M | 96% |
| Transferred At Point In Time | $11.1M | 4% |
RLI
| Casualty Segment | $246.8M | 53% |
| Property Insurance Segment | $122.5M | 26% |
| Other | $59.3M | 13% |
| Surety Insurance Segment | $37.1M | 8% |
