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Stocks / United States / WRB · Fire, Marine & Casualty Insurance · NYSE

Berkley W R Corp. (WRB)

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Berkley W R Corp. (WRB) reported revenue of $3.7 billion for Q2 FY2026, the quarter ended 30 June 2026, up 1.2% on the same quarter a year earlier. Net income was $452 million, up 12.7% on the year, and diluted earnings per share $1.15. The figures are the company's own, from the 10-Q it filed with the SEC on 31 July 2026.

Revenue$3.7 billionup 1.2%
Net income$452 millionup 12.7%
Diluted EPS$1.15
QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE19.6%
ROCEn/a
Operating marginn/a
Net margin12.9%
FCF marginn/a
Interest covern/a
Debt to equityn/a
Cash conversion1.87
Share count, 1 year-2.2%
Sales CAGR, 3 years9.6%
Profit CAGR, 3 years8.8%
EPS, TTM$4.87

At the close of 21 September 2026

Price$68.79
Market cap$25.5 billion
Stock P/E14.13
Price to book2.60
EV / EBITDAn/a
Dividend yield2.7%
Market cap / sales1.71
52-week high$78.46
52-week low$63.54
Price, 1 year-6.3%
Price CAGR, 3 years16.7%
Price CAGR, 5 years16.4%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on WRB

Filings17 in twelve months: 9 current reports (8-K), about 4 results of operations; 2 other events; 1 officer or director change; 1 material agreement; 1 new financial obligation
Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 0.57 by open interest on 23 September 2026; the straddle prices a 5.0% move to 16 October 2026
Holders7 of the followed funds hold it; largest Geode Capital Management; 2 Schedule 13D or 13G filings in twelve months
Insider trading0 sales and 94 purchases on Form 4 in twelve months
Congress8 House trades disclosed in six months
Short interest15.2 million shares short, 9.91 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue3,0313,2213,2573,3143,4003,6683,5473,6713,7683,7213,6903,716
Interest expense31.931.931.731.731.731.831.731.831.831.631.731.7
Pre-tax income420501574488474728539522648572616575
Tax rate21%20%23%24%23%21%23%23%21%20%16%21%
Net income334397442372366576418401511450515452
Net margin11%12%14%11%11%16%12%11%14%12%14%12%
Diluted EPS$1.23$1.46$1.64$0.92$0.91$0.89$1.04$1.00$1.28$1.13$1.31$1.15
Operating cash flow1,0776987468811,2418107447041,140995668800
Buybacks2.91070.022412.567.449.20.024.6196302111
Dividends paid0.031528.215812622030.322434.241233.70.0
Shares outstanding258m257m257m381m381m380m379m379m380m377m373m371m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue7,1297,2067,6547,6857,6927,9028,0999,45511,16612,14313,63914,70814,896
Interest expense128131141147157153151147130127127127127
Pre-tax income9527328967738128537051,2831,7201,7542,2642,2812,411
Income tax303228293219163169172252335371510496477
Effective tax rate31.8%31.1%32.7%28.4%20.1%19.8%24.4%19.6%19.5%21.1%22.5%21.7%19.8%
Net income6495046025496416825311,0221,3811,3811,7561,7791,928
Net margin9.1%7.0%7.9%7.1%8.3%8.6%6.6%10.8%12.4%11.4%12.9%12.1%12.9%
Diluted EPS$4.86$3.87$4.68$4.26$5.00$3.52$2.81$5.48$4.94$5.05$4.36$4.45$4.87
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow7358818487116201,1441,6172,1842,5692,9293,6783,5833,603
Capital expenditure42.063.650.811649.960.5n/an/an/an/an/an/an/a
Free cash flow6938187985955701,083n/an/an/an/an/an/an/a
Free cash flow margin9.7%11.3%10.4%7.7%7.4%13.7%n/an/an/an/an/an/an/a
Depreciation and amortisation88.885.186.111313111313513055.9-20.9-171-48.1-62.0
Share-based compensation28.132.137.240.536.649.349.746.749.451.054.454.556.0
Buybacks23922413247.824.818.234612294.1537304270635
Dividends paid18158.018418825530884.1356235501532700480
Dividend per sharen/an/an/a$1.03$1.39$1.68$0.47$2.01$0.89$1.93$1.40$1.85n/a
Diluted shares, weighted134m130m129m129m128m0m0m0m0m0m0m400m392m
Shares outstanding at period end127m123m121m122m122m183m178m177m265m257m380m377m371m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Total assets21,71721,73123,36524,30024,89626,64328,60732,08633,86137,20240,56744,07145,677
Cash and equivalents6747647959508181,0242,3721,5691,4491,3631,9752,5402,607
Goodwill151153145179173170170170186175184184184
Shareholders' equity4,5904,6005,0475,4115,4386,0756,3116,6536,7487,4558,3959,7019,833
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded7.4%12.7%9.6%4.3%
Profit growth, compounded13.5%27.4%8.8%9.5%
Return on equity, average14.7%18.7%19.3%18.3%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Fire, Marine & Casualty Insurance

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Chubb Ltd. CB$131.0 billion11.9315.3%23.6%8.2%0.221.1%
Progressive Corp/Oh/ PGR$123.4 billion10.6534.1%16.2%10.5%0.246.5%
Travelers Companies, Inc. TRV$77.4 billion9.9725.1%21.1%2.4%0.270.8%
Allstate Corp. ALL$61.7 billion4.8539.4%23.2%5.9%0.221.6%
American International Group, Inc. AIG$39.1 billion13.607.3%13.6%-4.2%0.222.3%
Hartford Insurance Group, Inc. HIG$35.4 billion8.4622.2%17.3%6.0%0.221.7%
Arch Capital Group Ltd. ACGL$32.7 billion7.5019.5%26.9%0.4%0.185.2%
Everest Group, Ltd. EG$27.5 billion7.8212.4%13.4%-5.1%0.032.2%
Cincinnati Financial Corp. CINF$25.6 billion7.8720.0%29.8%19.6%0.052.1%
Berkley W R Corp. WRB$25.5 billion14.1319.6%n/a4.3%n/a2.7%
Loews Corp. L$21.8 billion13.108.8%12.3%3.5%0.470.2%
Berkshire Hathaway Inc. BRK.Bn/an/a11.5%15.0%3.9%n/an/a

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q30 June 202631 July 2026EDGAR
10-Q31 March 20261 May 2026EDGAR
10-K31 December 202527 February 2026EDGAR
10-Q30 September 20253 November 2025EDGAR
10-Q30 June 20254 August 2025EDGAR
10-Q31 March 20252 May 2025EDGAR
10-K31 December 202424 February 2025EDGAR
10-Q30 September 20244 November 2024EDGAR
10-Q30 June 20242 August 2024EDGAR
10-Q31 March 20243 May 2024EDGAR

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