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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) 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 $233.0M, roughly 2.0× CSW INDUSTRIALS, INC.). RLI CORP runs the higher net margin — 19.6% vs 4.4%, a 15.2% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs 6.1%). RLI CORP produced more free cash flow last quarter ($155.0M vs $22.7M). Over the past eight quarters, CSW INDUSTRIALS, INC.'s revenue compounded faster (5.1% CAGR vs 2.3%).
RLI Corp. is an American insurance company specializing in property insurance and casualty insurance. It is headquartered in Peoria, Illinois.
CSW vs RLI — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $465.7M |
| Net Profit | $10.3M | $91.2M |
| Gross Margin | 39.7% | — |
| Operating Margin | 7.4% | 24.4% |
| Net Margin | 4.4% | 19.6% |
| Revenue YoY | 20.3% | 6.1% |
| Net Profit YoY | -61.9% | 123.1% |
| EPS (diluted) | $0.62 | $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 | $233.0M | $465.7M | ||
| Q3 25 | $277.0M | $509.3M | ||
| Q2 25 | $263.6M | $499.8M | ||
| Q1 25 | $230.5M | $407.7M | ||
| Q4 24 | $193.6M | $439.1M | ||
| Q3 24 | $227.9M | $470.0M | ||
| Q2 24 | $226.2M | $416.4M | ||
| Q1 24 | $210.9M | $444.8M |
| Q4 25 | $10.3M | $91.2M | ||
| Q3 25 | $40.7M | $124.6M | ||
| Q2 25 | $40.9M | $124.3M | ||
| Q1 25 | $35.1M | $63.2M | ||
| Q4 24 | $26.9M | $40.9M | ||
| Q3 24 | $36.1M | $95.0M | ||
| Q2 24 | $38.6M | $82.0M | ||
| Q1 24 | $31.8M | $127.9M |
| Q4 25 | 39.7% | — | ||
| Q3 25 | 43.0% | — | ||
| Q2 25 | 43.8% | — | ||
| Q1 25 | 44.2% | — | ||
| Q4 24 | 41.4% | — | ||
| Q3 24 | 45.6% | — | ||
| Q2 24 | 47.5% | — | ||
| Q1 24 | 44.4% | — |
| Q4 25 | 7.4% | 24.4% | ||
| Q3 25 | 20.5% | 30.9% | ||
| Q2 25 | 20.8% | 31.3% | ||
| Q1 25 | 19.5% | 19.3% | ||
| Q4 24 | 15.3% | 10.8% | ||
| Q3 24 | 22.6% | 24.9% | ||
| Q2 24 | 24.3% | 24.8% | ||
| Q1 24 | 21.0% | 36.0% |
| Q4 25 | 4.4% | 19.6% | ||
| Q3 25 | 14.7% | 24.5% | ||
| Q2 25 | 15.5% | 24.9% | ||
| Q1 25 | 15.2% | 15.5% | ||
| Q4 24 | 13.9% | 9.3% | ||
| Q3 24 | 15.8% | 20.2% | ||
| Q2 24 | 17.1% | 19.7% | ||
| Q1 24 | 15.1% | 28.8% |
| Q4 25 | $0.62 | $1.00 | ||
| Q3 25 | $2.41 | $1.35 | ||
| Q2 25 | $2.43 | $1.34 | ||
| Q1 25 | $2.05 | $0.68 | ||
| Q4 24 | $1.60 | $-2.87 | ||
| Q3 24 | $2.26 | $2.06 | ||
| Q2 24 | $2.47 | $1.78 | ||
| Q1 24 | $2.03 | $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 | $40.2M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $1.8B |
| Total Assets | $2.3B | $6.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.2M | — | ||
| Q3 25 | $31.5M | — | ||
| Q2 25 | $38.0M | — | ||
| Q1 25 | $225.8M | — | ||
| Q4 24 | $213.8M | — | ||
| Q3 24 | $273.2M | — | ||
| Q2 24 | $18.9M | — | ||
| Q1 24 | $22.2M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $100.0M | ||
| Q2 25 | — | $100.0M | ||
| Q1 25 | $800.1M | $100.0M | ||
| Q4 24 | — | $100.0M | ||
| Q3 24 | — | $100.0M | ||
| Q2 24 | — | $100.0M | ||
| Q1 24 | $166.0M | $100.0M |
| Q4 25 | $1.1B | $1.8B | ||
| Q3 25 | $1.1B | $1.9B | ||
| Q2 25 | $1.1B | $1.7B | ||
| Q1 25 | $1.1B | $1.6B | ||
| Q4 24 | $1.0B | $1.5B | ||
| Q3 24 | $1.0B | $1.7B | ||
| Q2 24 | $650.2M | $1.6B | ||
| Q1 24 | $615.7M | $1.5B |
| Q4 25 | $2.3B | $6.2B | ||
| Q3 25 | $1.5B | $6.2B | ||
| Q2 25 | $1.5B | $6.0B | ||
| Q1 25 | $1.4B | $5.7B | ||
| Q4 24 | $1.4B | $5.6B | ||
| Q3 24 | $1.4B | $5.8B | ||
| Q2 24 | $1.1B | $5.5B | ||
| Q1 24 | $1.0B | $5.3B |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.06× | ||
| Q1 25 | 0.75× | 0.06× | ||
| Q4 24 | — | 0.07× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.06× | ||
| Q1 24 | 0.27× | 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 | $28.9M | $156.8M |
| Free Cash FlowOCF − Capex | $22.7M | $155.0M |
| FCF MarginFCF / Revenue | 9.8% | 33.3% |
| Capex IntensityCapex / Revenue | 2.6% | 0.4% |
| Cash ConversionOCF / Net Profit | 2.81× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | $608.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $156.8M | ||
| Q3 25 | $61.8M | $179.2M | ||
| Q2 25 | $60.6M | $174.7M | ||
| Q1 25 | $27.3M | $103.5M | ||
| Q4 24 | $11.6M | $128.1M | ||
| Q3 24 | $66.8M | $219.4M | ||
| Q2 24 | $62.7M | $141.8M | ||
| Q1 24 | $22.4M | $70.9M |
| Q4 25 | $22.7M | $155.0M | ||
| Q3 25 | $58.7M | $177.8M | ||
| Q2 25 | $57.7M | $173.4M | ||
| Q1 25 | $22.8M | $102.5M | ||
| Q4 24 | $8.5M | $127.6M | ||
| Q3 24 | $61.3M | $219.0M | ||
| Q2 24 | $59.6M | $139.1M | ||
| Q1 24 | $17.5M | $69.9M |
| Q4 25 | 9.8% | 33.3% | ||
| Q3 25 | 21.2% | 34.9% | ||
| Q2 25 | 21.9% | 34.7% | ||
| Q1 25 | 9.9% | 25.1% | ||
| Q4 24 | 4.4% | 29.0% | ||
| Q3 24 | 26.9% | 46.6% | ||
| Q2 24 | 26.3% | 33.4% | ||
| Q1 24 | 8.3% | 15.7% |
| Q4 25 | 2.6% | 0.4% | ||
| Q3 25 | 1.1% | 0.3% | ||
| Q2 25 | 1.1% | 0.3% | ||
| Q1 25 | 2.0% | 0.3% | ||
| Q4 24 | 1.6% | 0.1% | ||
| Q3 24 | 2.4% | 0.1% | ||
| Q2 24 | 1.4% | 0.7% | ||
| Q1 24 | 2.3% | 0.2% |
| Q4 25 | 2.81× | 1.72× | ||
| Q3 25 | 1.52× | 1.44× | ||
| Q2 25 | 1.48× | 1.41× | ||
| Q1 25 | 0.78× | 1.64× | ||
| Q4 24 | 0.43× | 3.13× | ||
| Q3 24 | 1.85× | 2.31× | ||
| Q2 24 | 1.62× | 1.73× | ||
| Q1 24 | 0.71× | 0.55× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
RLI
| Casualty Segment | $246.8M | 53% |
| Property Insurance Segment | $122.5M | 26% |
| Other | $59.3M | 13% |
| Surety Insurance Segment | $37.1M | 8% |
