RLI Corp's Underwriting Strength and Capital Returns Highlighted in Earnings Report, Valuation Check Reaffirms Undervalued Narrative.

RLI Corp reported Q4 2025 earnings with revenue of $465.69 million and net income of $91.18 million. The company's underwriting approach has been highlighted, with solid revenue and earnings growth. However, recent trading has been negative, with a 10.39% 30-day share price return and 7.39% year-to-date return. The fair value narrative suggests RLI is undervalued at $64.25, but the earnings multiple indicates valuation risk.