W. R. Berkley (WRB) FY2023 results: revenue $12.1 billion, up 8.7% on the year
W. R. Berkley Corp. (WRB) reported revenue of $12.1 billion for fiscal 2023, the year ended 31 December 2023, up 8.7% on the year before. Net income was $1.4 billion, unchanged, and diluted earnings per share $3.37. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$12.1 billion
+8.7% on the year
FY2016FY2023
Operating margin
n/a
FY2016FY2023
Net income
$1.4 billion
+0.0% on the year
FY2016FY2023
Diluted EPS
$3.37
+2.2% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
2,929
2,569
2,184
+14.0%
Cash from investing
-1,962
-1,891
-2,989
Cash from financing
-1,062
-772
5.8
Depreciation and amortisation
-20.9
55.9
130
Share-based compensation
51.0
49.4
46.7
+3.2%
Buybacks
537
94.1
122
+470.6%
Dividends paid
501
235
356
+113.2%
Dividend per share
$1.29
$0.59
$0.89
+116.9%
Diluted shares, weighted
410m
419m
420m
-2.2%
Shares outstanding at period end
385m
397m
398m
-3.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
7,455
6,748
6,653
+10.5%
Non-controlling interest
13.8
19.8
14.7
-30.4%
Trading liabilities
9.4
0.0
1.2
Other liabilities
29,723
27,093
25,418
+9.7%
Total liabilities and equity
37,202
33,861
32,086
+9.9%
Fixed assets
427
423
420
+0.8%
Goodwill
175
186
170
-5.9%
Securities held for sale or to maturity
20,178
17,587
16,603
+14.7%
Trading assets
938
944
1,180
-0.6%
Cash and equivalents
1,363
1,449
1,569
-5.9%
Other assets
14,121
13,272
12,145
+6.4%
Total assets
37,202
33,861
32,086
+9.9%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.