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Side-by-side financial comparison of PEGASYSTEMS INC (PEGA) 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 $430.0M, roughly 1.1× PEGASYSTEMS INC). RLI CORP runs the higher net margin — 19.6% vs 7.6%, a 12.0% gap on every dollar of revenue. On growth, RLI CORP posted the faster year-over-year revenue change (6.1% vs -9.6%). PEGASYSTEMS INC produced more free cash flow last quarter ($206.5M vs $155.0M). Over the past eight quarters, PEGASYSTEMS INC's revenue compounded faster (10.7% CAGR vs 2.3%).
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
RLI Corp. is an American insurance company specializing in property insurance and casualty insurance. It is headquartered in Peoria, Illinois.
PEGA vs RLI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $430.0M | $465.7M |
| Net Profit | $32.8M | $91.2M |
| Gross Margin | 75.2% | — |
| Operating Margin | 8.6% | 24.4% |
| Net Margin | 7.6% | 19.6% |
| Revenue YoY | -9.6% | 6.1% |
| Net Profit YoY | — | 123.1% |
| EPS (diluted) | $0.18 | $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.
| Q1 26 | $430.0M | — | ||
| Q4 25 | $504.3M | $465.7M | ||
| Q3 25 | $381.4M | $509.3M | ||
| Q2 25 | $384.5M | $499.8M | ||
| Q1 25 | $475.6M | $407.7M | ||
| Q4 24 | $490.8M | $439.1M | ||
| Q3 24 | $325.1M | $470.0M | ||
| Q2 24 | $351.2M | $416.4M |
| Q1 26 | $32.8M | — | ||
| Q4 25 | $234.6M | $91.2M | ||
| Q3 25 | $43.4M | $124.6M | ||
| Q2 25 | $30.1M | $124.3M | ||
| Q1 25 | $85.4M | $63.2M | ||
| Q4 24 | $119.1M | $40.9M | ||
| Q3 24 | $-14.4M | $95.0M | ||
| Q2 24 | $6.6M | $82.0M |
| Q1 26 | 75.2% | — | ||
| Q4 25 | 79.5% | — | ||
| Q3 25 | 72.2% | — | ||
| Q2 25 | 71.5% | — | ||
| Q1 25 | 78.5% | — | ||
| Q4 24 | 79.1% | — | ||
| Q3 24 | 70.2% | — | ||
| Q2 24 | 72.4% | — |
| Q1 26 | 8.6% | — | ||
| Q4 25 | 20.7% | 24.4% | ||
| Q3 25 | 3.8% | 30.9% | ||
| Q2 25 | 4.5% | 31.3% | ||
| Q1 25 | 26.7% | 19.3% | ||
| Q4 24 | 29.1% | 10.8% | ||
| Q3 24 | -3.6% | 24.9% | ||
| Q2 24 | 3.7% | 24.8% |
| Q1 26 | 7.6% | — | ||
| Q4 25 | 46.5% | 19.6% | ||
| Q3 25 | 11.4% | 24.5% | ||
| Q2 25 | 7.8% | 24.9% | ||
| Q1 25 | 18.0% | 15.5% | ||
| Q4 24 | 24.3% | 9.3% | ||
| Q3 24 | -4.4% | 20.2% | ||
| Q2 24 | 1.9% | 19.7% |
| Q1 26 | $0.18 | — | ||
| Q4 25 | $0.81 | $1.00 | ||
| Q3 25 | $0.24 | $1.35 | ||
| Q2 25 | $0.17 | $1.34 | ||
| Q1 25 | $0.91 | $0.68 | ||
| Q4 24 | $1.35 | $-2.87 | ||
| Q3 24 | $-0.17 | $2.06 | ||
| Q2 24 | $0.07 | $1.78 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $270.0M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $705.9M | $1.8B |
| Total Assets | $1.6B | $6.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $270.0M | — | ||
| Q4 25 | $425.8M | — | ||
| Q3 25 | $351.4M | — | ||
| Q2 25 | $411.6M | — | ||
| Q1 25 | $371.7M | — | ||
| Q4 24 | $740.0M | — | ||
| Q3 24 | $703.0M | — | ||
| Q2 24 | $665.1M | — |
| Q1 26 | — | — | ||
| 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 26 | $705.9M | — | ||
| Q4 25 | $787.4M | $1.8B | ||
| Q3 25 | $596.8M | $1.9B | ||
| Q2 25 | $624.5M | $1.7B | ||
| Q1 25 | $611.3M | $1.6B | ||
| Q4 24 | $585.5M | $1.5B | ||
| Q3 24 | $473.0M | $1.7B | ||
| Q2 24 | $435.4M | $1.6B |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $6.2B | ||
| Q3 25 | $1.3B | $6.2B | ||
| Q2 25 | $1.3B | $6.0B | ||
| Q1 25 | $1.3B | $5.7B | ||
| Q4 24 | $1.8B | $5.6B | ||
| Q3 24 | $1.6B | $5.8B | ||
| Q2 24 | $1.5B | $5.5B |
| Q1 26 | — | — | ||
| 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× |
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 | — | $156.8M |
| Free Cash FlowOCF − Capex | $206.5M | $155.0M |
| FCF MarginFCF / Revenue | 48.0% | 33.3% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | — | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $494.9M | $608.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $158.4M | $156.8M | ||
| Q3 25 | $56.3M | $179.2M | ||
| Q2 25 | $86.3M | $174.7M | ||
| Q1 25 | $204.2M | $103.5M | ||
| Q4 24 | $95.2M | $128.1M | ||
| Q3 24 | $30.5M | $219.4M | ||
| Q2 24 | $40.1M | $141.8M |
| Q1 26 | $206.5M | — | ||
| Q4 25 | $152.4M | $155.0M | ||
| Q3 25 | $51.8M | $177.8M | ||
| Q2 25 | $84.1M | $173.4M | ||
| Q1 25 | $202.3M | $102.5M | ||
| Q4 24 | $92.4M | $127.6M | ||
| Q3 24 | $27.4M | $219.0M | ||
| Q2 24 | $38.8M | $139.1M |
| Q1 26 | 48.0% | — | ||
| Q4 25 | 30.2% | 33.3% | ||
| Q3 25 | 13.6% | 34.9% | ||
| Q2 25 | 21.9% | 34.7% | ||
| Q1 25 | 42.5% | 25.1% | ||
| Q4 24 | 18.8% | 29.0% | ||
| Q3 24 | 8.4% | 46.6% | ||
| Q2 24 | 11.1% | 33.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 0.4% | ||
| Q3 25 | 1.2% | 0.3% | ||
| Q2 25 | 0.6% | 0.3% | ||
| Q1 25 | 0.4% | 0.3% | ||
| Q4 24 | 0.6% | 0.1% | ||
| Q3 24 | 0.9% | 0.1% | ||
| Q2 24 | 0.4% | 0.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.68× | 1.72× | ||
| Q3 25 | 1.30× | 1.44× | ||
| Q2 25 | 2.87× | 1.41× | ||
| Q1 25 | 2.39× | 1.64× | ||
| Q4 24 | 0.80× | 3.13× | ||
| Q3 24 | — | 2.31× | ||
| Q2 24 | 6.06× | 1.73× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
RLI
| Casualty Segment | $246.8M | 53% |
| Property Insurance Segment | $122.5M | 26% |
| Other | $59.3M | 13% |
| Surety Insurance Segment | $37.1M | 8% |
