Skip to content
stoqly

W. R. Berkley

WRB NYSE Property & Casualty Insurance Financials FY2016–FY2025

W. R. Berkley's revenue rose 7.8% to $14.7 billion in fiscal 2025. Its net margin was 12.1%, down from 12.9% a year earlier. It paid out $970 million in dividends and buybacks. The diluted share count fell 0.8%.

Last close · Oct 23, 2026

$73.33

2.9%
Value it Compare
Revenue Total sales reported in the income statement.
$14.7B
7.8% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$1.8B
1.3%
Free cash flow Cash from operations minus capital spending.
—
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$28.7B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
15.1x
On $4.87 EPS (TTM)

About these figures. W. R. Berkley's filings tag only its subordinated debentures, not its senior notes, so debt and debt-based ratios are left blank. From 2020 W. R. Berkley's cash flow statement doesn't show its spending on property and equipment as a line of its own, so capital spending and free cash flow are left blank. Share counts and per-share figures for earlier years are restated for stock splits (1.5-for-1 and 1.5-for-1), so every year is on today's share basis.

What W. R. Berkley does

No business description yet.

Legal name
W. R. BERKLEY CORP
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0000011544-26-000005
0000011544

Revenue and margins

W. R. Berkley had $14.7B of revenue in fiscal 2025, up 7.8% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 8.8% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.

Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

W. R. Berkley returned $970M to shareholders in fiscal 2025. The diluted share count fell 0.8%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value W. R. Berkley yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of — and divides by 399.9M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 15.1x · peers 8.4x · sector 13.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably W. R. Berkley can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $1.6B$1.4B$1.4B$2.0B$2.5B
Interest coverage 9.7x14.2x14.8x18.8x19.0x
Total assets $32.1B$33.9B$37.2B$40.6B$44.1B
Total liabilities $25.4B$27.1B$29.7B$32.2B$34.4B
Shareholders' equity $6.7B$6.7B$7.5B$8.4B$9.7B
Net debt (− = net cash) —————

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$157M

2 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

DateInsiderTradeSharesPriceValueFiling
Mar 3, 2026 Mitsui Sumitomo Insurance Co Ltd10% owner Bought plan 112,176 $72.20 $8.1M Form 4
Mar 2, 2026 Mitsui Sumitomo Insurance Co Ltd10% owner Bought plan 146,000 $72.92 $10.6M Form 4
Feb 27, 2026 Mitsui Sumitomo Insurance Co Ltd10% owner Bought plan 147,000 $71.63 $10.5M Form 4
Feb 26, 2026 Mitsui Sumitomo Insurance Co Ltd10% owner Bought plan 153,000 $71.67 $11.0M Form 4
Feb 25, 2026 MS&AD Insurance Group Holdings Inc.10% owner Bought plan 168,868 $71.42 $12.1M Form 4
Feb 24, 2026 MS&AD Insurance Group Holdings Inc.10% owner Bought plan 164,786 $70.80 $11.7M Form 4
Feb 23, 2026 MS&AD Insurance Group Holdings Inc.10% owner Bought plan 220,000 $71.14 $15.7M Form 4
Feb 20, 2026 MS&AD Insurance Group Holdings Inc.10% owner Bought plan 160,582 $70.80 $11.4M Form 4
Feb 19, 2026 MS&AD Insurance Group Holdings Inc.10% owner Bought plan 345,000 $70.65 $24.4M Form 4
Feb 18, 2026 Mitsui Sumitomo Insurance Co Ltd10% owner Bought plan 285,000 $70.64 $20.1M Form 4
Feb 17, 2026 Mitsui Sumitomo Insurance Co Ltd10% owner Bought plan 281,386 $71.19 $20.0M Form 4
Feb 13, 2026 MS&AD Insurance Group Holdings Inc.10% owner Bought plan 20,000 $69.87 $1.4M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets — — —
Current ratio rose — — —
Share count didn't rise ✕ ✓ ✓
Gross margin rose — — —
Revenue rose relative to assets ✓ ✓ ✕
F-score — / 9— / 9— / 9
Accruals ratio −4.4%−4.9%−4.3%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
W. R. Berkley WRB $28.7B 7.8% — — — 15.1x —
Fidelity National Financial FNF $10.8B 5.6% — — — 14.0x — Compare →
Cincinnati Financial CINF $27.4B 11.4% — 24.5% 17.1% 8.3x — Compare →
Arch Capital Group ACGL $35.5B 14.3% — 30.8% — 8.0x — Compare →
Old Republic International ORI $9.6B 11.0% — — — 8.5x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $7.7B $7.7B $7.7B $7.9B $8.1B $9.5B $11.2B $12.1B $13.6B $14.7B
Interest expense $141M $147M $157M $153M $151M $147M $130M $128M $127M $127M
Pretax income $896M $773M $812M $853M $705M $1.3B $1.7B $1.8B $2.3B $2.3B
Income tax $293M $219M $163M $169M $172M $252M $335M $371M $510M $496M
Net income $602M $549M $641M $682M $531M $1.0B $1.4B $1.4B $1.8B $1.8B
Diluted EPS $2.08 $1.89 $2.22 $2.35 $1.87 $3.66 $3.29 $3.37 $4.36 $4.45
Diluted shares 0.29B 0.29B 0.29B 0.29B 0.28B 0.28B 0.00B 0.41B 0.40B 0.40B
Cash flow
Cash from operations $848M $711M $620M $1.1B $1.6B $2.2B $2.6B $2.9B $3.7B $3.6B
Capital expenditure $50.8M $116M $49.9M $60.5M — — — — — —
Free cash flow $798M $595M $570M $1.1B — — — — — —
Depreciation and amortization $86.1M $113M $131M $113M $135M $130M $55.9M −$20.9M −$171M −$48.1M
Stock-based compensation $37.2M $40.5M $36.6M $49.3M $49.7M $46.7M $49.4M $51.0M $54.4M $54.5M
Acquisitions $53.5M $70.6M $6.6M $0.0M $0.0M $0.0M $49.6M $11.6M $0.0M $0.0M
Share buybacks $132M $47.8M $24.8M $18.2M $346M $122M $94.1M $537M $304M $270M
Dividends paid $184M $188M $255M $308M $84.1M $356M $235M $502M $532M $700M
Dividends and buybacks $316M $236M $280M $326M $431M $478M $329M $1.0B $836M $970M
Balance sheet
Cash and short-term investments $795M $951M $818M $1.0B $2.4B $1.6B $1.4B $1.4B $2.0B $2.5B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $349M $423M $416M $422M $406M $420M $423M $427M $479M $596M
Total assets $23.4B $24.3B $24.9B $26.7B $28.6B $32.1B $33.9B $37.2B $40.6B $44.1B
Total liabilities $18.3B $18.8B $19.4B $20.5B $22.3B $25.4B $27.1B $29.7B $32.2B $34.4B
Shareholders' equity $5.0B $5.4B $5.4B $6.1B $6.3B $6.7B $6.7B $7.5B $8.4B $9.7B
Margins
EBITDA margin 14.7% 13.4% 14.3% 14.2% 12.2% 16.5% 17.1% 15.3% 16.3% 16.0%
Net margin 7.9% 7.2% 8.3% 8.6% 6.6% 10.8% 12.4% 11.4% 12.9% 12.1%
FCF margin 10.4% 7.7% 7.4% 13.7% — — — — — —
Returns
Return on equity 12.5% 10.5% 11.8% 11.9% 8.6% 15.8% 20.6% 19.5% 22.2% 19.7%
Return on assets 2.7% 2.3% 2.6% 2.7% 1.9% 3.4% 4.2% 3.9% 4.5% 4.2%
Growth
Revenue growth 6.2% 0.4% 0.1% 2.7% 2.5% 16.8% 18.1% 8.7% 12.3% 7.8%
Net income growth 19.5% −8.8% 16.7% 6.4% −22.2% 92.7% 35.1% 0.0% 27.1% 1.3%
EPS growth 20.9% −9.0% 17.3% 5.7% −20.3% 95.7% −10.1% 2.4% 29.4% 2.1%
FCF growth −2.5% −25.4% −4.2% 90.0% — — — — — —
Share count change −1.3% 0.4% −0.6% 0.6% −2.5% −1.2% −99.9% 97,694.8% −1.6% −0.8%
Financial health
Interest coverage 7.4x 6.3x 6.2x 6.6x 5.7x 9.7x 14.2x 14.8x 18.8x 19.0x
Capital allocation
Capex / revenue 0.7% 1.5% 0.7% 0.8% — — — — — —
Stock comp / revenue 0.5% 0.5% 0.5% 0.6% 0.6% 0.5% 0.4% 0.4% 0.4% 0.4%
Payouts / FCF 39.7% 39.7% 49.0% 30.1% — — — — — —
Quality scores
Accruals ratio −1.1% −0.7% 0.1% −1.8% −3.9% −3.8% −3.6% −4.4% −4.9% −4.3%

Source: SEC EDGAR XBRL filings (CIK 0000011544). Data updated October 10, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

↑ ↓ to move · ↵ to open