Hartford vs W. R. Berkley
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The short version
- Hartford is the larger business, with $28.4B of revenue in fiscal 2025 against $14.7B for W. R. Berkley, about 1.9 times as much.
- W. R. Berkley grew revenue faster (7.8%, against 6.9%).
- Investors pay more for each dollar of W. R. Berkley’s earnings: a P/E of 15.1x against 8.8x for Hartford.
| Latest fiscal year | HIG · FY25 | WRB · FY25 |
|---|---|---|
| Size | ||
| Market cap | $37.8B | $28.7B |
| Revenue | $28.4B | $14.7B |
| Free cash flow | $5.8B | — |
| Net income | $3.8B | $1.8B |
| Growth | ||
| Revenue growth | 6.9% | 7.8% |
| 5-year growth | 6.7% | 12.7% |
| Share count change | −4.1% | −0.8% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 13.5% | 12.1% |
| FCF margin | 20.3% | — |
| Return on capital | 22.6% | — |
| Return on equity | 21.7% | 19.7% |
| Balance sheet | ||
| Net debt | −$159M | — |
| Net debt / EBITDA | −0.0x | — |
| Dividends and buybacks | $2.2B | $971M |
| Valuation & quality | ||
| P/E | 8.8x | 15.1x |
| Piotroski F-score | — | — |
FY16
HIG $16.3B
WRB $7.7B
FY17
HIG $17.2B
WRB $7.7B
FY18
HIG $19.0B
WRB $7.7B
FY19
HIG $20.7B
WRB $7.9B
FY20
HIG $20.5B
WRB $8.1B
FY21
HIG $22.4B
WRB $9.5B
FY22
HIG $22.4B
WRB $11.2B
FY23
HIG $24.5B
WRB $12.1B
FY24
HIG $26.5B
WRB $13.6B
FY25
HIG $28.4B
WRB $14.7B
HIG
WRB
FY16
HIG —
WRB —
FY17
HIG —
WRB —
FY18
HIG —
WRB —
FY19
HIG —
WRB —
FY20
HIG —
WRB —
FY21
HIG —
WRB —
FY22
HIG —
WRB —
FY23
HIG —
WRB —
FY24
HIG —
WRB —
FY25
HIG —
WRB —
HIG
WRB
FY16
HIG $1.8B
WRB $798M
FY17
HIG $1.9B
WRB $595M
FY18
HIG $2.7B
WRB $570M
FY19
HIG $3.4B
WRB $1.1B
FY20
HIG $3.8B
WRB —
FY21
HIG $4.0B
WRB —
FY22
HIG $3.8B
WRB —
FY23
HIG $4.0B
WRB —
FY24
HIG $5.8B
WRB —
FY25
HIG $5.8B
WRB —
HIG
WRB
FY16
HIG —
WRB —
FY17
HIG —
WRB —
FY18
HIG 11.8%
WRB —
FY19
HIG 14.7%
WRB —
FY20
HIG 10.3%
WRB —
FY21
HIG 13.5%
WRB —
FY22
HIG 12.2%
WRB —
FY23
HIG 18.1%
WRB —
FY24
HIG 20.4%
WRB —
FY25
HIG 22.6%
WRB —
HIG
WRB
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.