Berkley W R Corp (WRB)
Financials · Property & Casualty Insurance · US stock · S&P 500 component
$75.55
▲ +1.21 (1.63%)
Fair valueFair
$85 +12.0% to fair value
$42fair band $72–$103$127
Day's range
$74.62 – $75.88
52-week range
$62.87 – $78.96
About Berkley W R Corp
W. R. Berkley is an insurance holding company that sells commercial property and casualty coverage through a group of specialised operating units. Its products include liability, workers compensation, professional liability and reinsurance for businesses with particular risks. The company earns money from premiums paid by policyholders and from investment income on the funds held until claims are paid, so underwriting discipline and investment returns both matter.
Over the latest twelve months the company reported revenue of $14.9 billion, with growth of 9.6% a year across three years. It reports an operating margin of 17.0%, with return on invested capital of 27%. A dividend is paid, with a yield of 2.5%. Overall, it receives an X-Ray Score of 57 out of 100. The figures are a snapshot of reported results rather than a forecast.
Price chart
52-wk range $62.87 – $78.96Volume 1,748,988Daily, split-adjusted
Vitals
Market cap$29.6B
52-week range$62.87 – $78.96
Volume (last day)1,748,988
P/E (TTM)15.5
EBIT / EV yield9.3%
Free-cash-flow yield–
Dividend yield2.5%
Revenue (TTM)$14.9B
Net income (TTM)$1.9B
Operating margin17.0%
Return on capital27.2%
Debt incl. leasesData missing
Cash & securities$2.6B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$85middle half of models $75 – $85
Fair
+12.0% to fair value
Average of the 4 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $76
Undervalued < $72Fair $72 – $103Overvalued > $103
P/E multiple
$76
P/B multiple
$76
P/S multiple
$75
Dividend discount, stable
$112
Dividend discount, multi-stage · not used
$240
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Financials peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Fair
62/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield9.3%
Fair value vs price1.1×
Growth
Fair
59/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)9.6%
EPS growth (3y)10.6%
Growth consistency100%
Profitability
Strong
71/100
Earns high returns on the capital it uses.
See the numbers →
Return on invested capital27.2%
Operating margin17.0%
Financial health
Weak
29/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score5 / 9
Interest cover20.0×
Dividends
Fair
65/100
Dividend is typical for its sector.
See the numbers →
Dividend yield2.5%
Dividend growth43.9%
Quarterly results: last 6 quarters
+8.9%
Mar '25
+10.8%
Jun '25
+10.8%
Sep '25
+1.5%
Dec '25
+4.0%
Mar '26
+1.2%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $3.7B, diluted EPS $1.15.
Compare with peers
PGR Progressive Corp69 HIG Hartford Insurance Gro...64 ACGL Arch Capital Group Ltd...61 CINF Cincinnati Financial C...60Other Property & Casualty Insurance companies by X-Ray Score.
SWOT analysis: Berkley W R Corp
Strengthsinside the company
- Return on invested capital is 27.2%, against a median of 21.5% for industry peers.
- Operating profit covers interest 20x, so debt costs are a small drag.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Our Market Compass rates the backdrop for Financials as favourable.
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- Trades at 15.4x earnings, 74% above the 8.8x median of industry peers, so the price already assumes better results.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare WRB with peers and sector
Medians of 7 Property & Casualty Insurance peers and of 70 Financials stocks in our universe.
Largest peers (X-Ray Score): CB 50, PGR 69, TRV 52, ALL 54, HIG 64, ACGL 61.
| Metric | WRB | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 57 | 60 | 50 |
| Valuation | 62 | 63 | 52 |
| Growth | 58 | 63 | 54 |
| Profitability | 71 | 59 | 48 |
| Financial health | 29 | 55 | 51 |
| Dividends | 65 | 60 | 54 |
Sector leaders: highest X-Ray Score in Financials
WRB ranks #21 of 71 in Financials and #5 of 8 in Property & Casualty Insurance by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for WRB
Each factor is rated by where WRB stands among the 71 Financials stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 1 Good · 6 Average · 1 Bad of 8
Growth: 0 · 3 · 0
Profitability: 0 · 1 · 1
Valuation: 1 · 2 · 0
| Factor | WRB | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +9.6% | Average beats 59% | +8.3% | – | – |
| Revenue growth, last year | +7.8% | Average beats 60% | +6.9% | +12.3% | ▼ Worse |
| EPS growth, 3 years a year | +10.6% | Average beats 40% | +12.7% | – | – |
| Profitability | |||||
| Net margin | 12.9% | Bad beats 25% | 21.8% | 12.1% | ≈ In line |
| Return on equity | 19.6% | Average beats 65% | 15.7% | 18.5% | ≈ In line |
| Valuation | |||||
| P/E ratio | 15.4x | Average beats 42% | 13.8x | 14.0x | ≈ In line |
| Price / book | 3.0x | Average beats 34% | 2.2x | 2.8x | ≈ In line |
| Price / sales | 2.0x | Good beats 68% | 3.1x | 1.7x | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings), and banks and insurers are rated only on the factors that apply to them. A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 3 Good · ● 5 Average · ● 2 BadCash quality
Earnings backed by cashGood
Risk models
Piotroski F-ScoreBad
Growth
EPS growth (3y)Average
Revenue growth (3y)Average
Growth consistencyGood
Balance sheet
Interest coverAverage
Valuation
Fair value vs priceAverage
EBIT / EV yieldAverage
Profitability
Return on invested capitalGood
Operating marginBad
Each check is graded against the company's sector, not a fixed number. Checklist score 56/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $9.5B | $11.2B | $12.1B | $13.6B | $14.7B |
| Operating income | $1.4B | $1.9B | $1.9B | $2.4B | $2.4B |
| Net income | $1.0B | $1.4B | $1.4B | $1.8B | $1.8B |
| Operating cash flow | $2.2B | $2.6B | $2.9B | $3.7B | $3.6B |
| Operating margin | 15.1% | 16.6% | 15.5% | 17.5% | 16.4% |
| Free cash flow | – | – | – | – | – |
| Diluted EPS | $3.66 | $3.29 | $3.37 | $4.36 | $4.45 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 1 neutral · 3 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 73.87 | Bullish |
| EMA 10 | 73.62 | Bullish |
| SMA 20 | 71.40 | Bullish |
| EMA 20 | 72.30 | Bullish |
| SMA 50 | 70.06 | Bullish |
| EMA 50 | 70.91 | Bullish |
| SMA 100 | 70.20 | Bullish |
| EMA 100 | 70.11 | Bullish |
| SMA 200 | 68.65 | Bullish |
| EMA 200 | 69.30 | Bullish |
Oscillators (daily)
| RSI (14) | 68.53 | Neutral |
| MACD (12, 26) | 1.47 | Bullish |
| Momentum (12) | 8.47 | Bullish |
| Stochastic %K (14) | 95.48 | Bearish |
| Williams %R (14) | -4.52 | Bearish |
| CCI (20) | 106.3 | Bearish |
Pivot points (classic, last session)
S3 73.57 | S2 74.09 | S1 74.82 | Pivot 75.35 | R1 76.08 | R2 76.60 | R3 77.33 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
1.88 USD
Yield on today's price
2.49%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.1000 | |
| 0.6000 | |
| 0.0900 | |
| 1.0900 | |
| 0.0900 | |
| 0.5900 | |
| 0.0800 | |
| 0.5800 | |
| 0.3300 | |
| 0.6200 | |
| 0.1100 | |
| 0.6100 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold WRB
| ETF | Share of the fund |
|---|---|
| FTCS First Trust Capital Strength | 2.14% |
| KIE SPDR S&P Insurance | 1.85% |
| SPLV Invesco S&P 500 Low Volatility | 0.90% |
| SDVY First Trust SMID Cap Rising Dividend A... | 0.58% |
| VOE Vanguard Mid-Cap Value | 0.34% |
| ACWV iShares MSCI Global Min Vol Factor | 0.33% |
| XLF Financial Select Sector SPDR | 0.27% |
| IYF iShares U.S. Financials | 0.25% |
The eight funds with the largest weight in WRB among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
WRB stock splits
WRB has split its stock 9 times since 1991. The latest was a 3-for-2 split on 11 Jul 2024.
Full WRB stock split history →WRB SEC filings
8-KSEC EDGAR
Results of operations
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Entered a material agreement
8-KSEC EDGAR
Other events
8-KSEC EDGAR
Shareholder vote results
10-QSEC EDGAR
Quarterly report
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.