W. R. Berkley (WRB) FY2021 results: revenue $9.5 billion, up 16.7% on the year
W. R. Berkley Corp. (WRB) reported revenue of $9.5 billion for fiscal 2021, the year ended 31 December 2021, up 16.7% on the year before. Net income was $1.0 billion, up 92.7%, and diluted earnings per share $2.44. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2022.
Revenue
$9.5 billion
+16.7% on the year
FY2014FY2021
Operating margin
n/a
FY2014FY2021
Net income
$1.0 billion
+92.7% on the year
FY2014FY2021
Diluted EPS
$2.44
+95.0% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,184
1,617
1,144
+35.1%
Capital expenditure
n/a
n/a
60.5
Free cash flow
n/a
n/a
1,083
Free cash flow margin
n/a
n/a
13.7%
Cash from investing
-2,989
120
-425
Cash from financing
5.8
-398
-513
Depreciation and amortisation
130
135
113
-4.0%
Share-based compensation
46.7
49.7
49.3
-6.0%
Buybacks
122
346
18.2
-64.7%
Dividends paid
356
84.1
308
+322.8%
Dividend per share
$0.89
$0.21
$0.75
+327.6%
Diluted shares, weighted
420m
425m
435m
-1.2%
Shares outstanding at period end
398m
400m
413m
-0.6%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
6,653
6,311
6,075
+5.4%
Non-controlling interest
14.7
15.0
43.4
-1.8%
Trading liabilities
1.2
10.0
36.1
-88.4%
Other liabilities
25,418
22,271
20,489
+14.1%
Total liabilities and equity
32,086
28,607
26,643
+12.2%
Fixed assets
420
406
422
+3.4%
Goodwill
170
170
170
0.0%
Securities held for sale or to maturity
16,603
14,159
14,181
+17.3%
Trading assets
1,180
341
401
+245.6%
Cash and equivalents
1,569
2,372
1,024
-33.9%
Other assets
12,145
11,158
10,446
+8.8%
Total assets
32,086
28,607
26,643
+12.2%
10-K for the year ended 31 December 2021, filed 24 February 2022: the filing.