Fidelity National Financial
FNF · Property & Casualty Insurance
$40.44
2.3%W. R. Berkley
WRB · Property & Casualty Insurance
$73.33
2.9%The short version
- W. R. Berkley is the larger business, with $14.7B of revenue in fiscal 2025 against $14.4B for Fidelity National Financial.
- W. R. Berkley grew revenue faster (7.8%, against 5.6%).
- Investors pay more for each dollar of W. R. Berkley’s earnings: a P/E of 15.1x against 14.0x for Fidelity National Financial.
| Latest fiscal year | FNF · FY25 | WRB · FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.8B | $28.7B |
| Revenue | $14.4B | $14.7B |
| Free cash flow | — | — |
| Net income | $602M | $1.8B |
| Growth | ||
| Revenue growth | 5.6% | 7.8% |
| 5-year growth | 6.0% | 12.7% |
| Share count change | −0.4% | −0.8% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 4.2% | 12.1% |
| FCF margin | — | — |
| Return on capital | — | — |
| Return on equity | 7.9% | 19.7% |
| Balance sheet | ||
| Net debt | −$156M | — |
| Net debt / EBITDA | −0.1x | — |
| Dividends and buybacks | $797M | $971M |
| Valuation & quality | ||
| P/E | 14.0x | 15.1x |
| Piotroski F-score | — | — |
FY16
FNF $7.3B
WRB $7.7B
FY17
FNF $7.7B
WRB $7.7B
FY18
FNF $7.6B
WRB $7.7B
FY19
FNF $8.5B
WRB $7.9B
FY20
FNF $10.8B
WRB $8.1B
FY21
FNF $15.7B
WRB $9.5B
FY22
FNF $11.6B
WRB $11.2B
FY23
FNF $11.8B
WRB $12.1B
FY24
FNF $13.7B
WRB $13.6B
FY25
FNF $14.4B
WRB $14.7B
FNF
WRB
FY16
FNF —
WRB —
FY17
FNF —
WRB —
FY18
FNF —
WRB —
FY19
FNF —
WRB —
FY20
FNF —
WRB —
FY21
FNF —
WRB —
FY22
FNF —
WRB —
FY23
FNF —
WRB —
FY24
FNF —
WRB —
FY25
FNF —
WRB —
FNF
WRB
FY16
FNF —
WRB $798M
FY17
FNF —
WRB $595M
FY18
FNF —
WRB $570M
FY19
FNF —
WRB $1.1B
FY20
FNF —
WRB —
FY21
FNF —
WRB —
FY22
FNF —
WRB —
FY23
FNF —
WRB —
FY24
FNF —
WRB —
FY25
FNF —
WRB —
FNF
WRB
FY16
FNF 9.3%
WRB —
FY17
FNF 13.1%
WRB —
FY18
FNF 17.7%
WRB —
FY19
FNF 28.6%
WRB —
FY20
FNF 26.4%
WRB —
FY21
FNF 35.6%
WRB —
FY22
FNF 20.9%
WRB —
FY23
FNF —
WRB —
FY24
FNF —
WRB —
FY25
FNF —
WRB —
FNF
WRB
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.