Overview
BERKLEY W R CORP
Latest 10-K: FY2025, filed Feb 27, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $14.71B
- 7.8%YoYup from FY2024
- TotalRevenue
- Gross profit
- Not reported
- Net income
- $1.78B
- 1.3%YoYup from FY2024
- NetIncome
- Diluted EPS
- $4.45
- 2.1%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 399.9M
- 0.8%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- BERKLEY W R CORP reported revenue of $14.71B for fiscal 2025, up 7.8% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 5 of the last 5 fiscal years.
Profitability
- Net margin was 12.1%, against a median of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $4.45, up 2.1% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $14.71B7.8%up Benchmark median 6.4% | $13.64B12.3%up Benchmark median 4.5% | $12.14B8.7%up Benchmark median 4.8% | $11.17B18.1%up Benchmark median 10.3% | $9.46B16.7%up Benchmark median 13.8% | 11.7% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | — | — | — | — | — | — Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | — | — | — | — | — | — Benchmark median 7.2% |
| Net Income | $1.78B1.3%up Benchmark median 4.8% | $1.76B27.1%up Benchmark median 5.7% | $1.38B0.0%unchanged Benchmark median 1.9% | $1.38B35.1%up Benchmark median 1.3% | $1.02B92.7%up Benchmark median 33.9% | 14.9% Benchmark median 4.1% |
| EPS (Diluted) | $4.452.1%up Benchmark median 6.2% | $4.3629.4%up Benchmark median 7.9% | $3.372.4%up Benchmark median 1.9% | $3.2910.1%down Benchmark median 1.5% | $3.6695.7%up Benchmark median 34.8% | 5.0% Benchmark median 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $44.07B8.6%up Benchmark median 5.6% | $40.57B9.0%up Benchmark median 3.4% | $37.20B9.9%up Benchmark median 4.1% | $33.86B5.5%up Benchmark median 2.2% | $32.09B12.2%up Benchmark median 6.7% | 8.3% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $34.36B6.8%up Benchmark median 6.4% | $32.16B8.2%up Benchmark median 1.9% | $29.73B9.7%up Benchmark median 2.9% | $27.09B6.6%up Benchmark median 2.0% | $25.42B14.1%up Benchmark median 5.2% | 7.8% Benchmark median 4.4% |
| Stockholders' Equity | $9.71B15.5%up Benchmark median 6.8% | $8.41B12.6%up Benchmark median 5.4% | $7.47B10.4%up Benchmark median 7.3% | $6.77B1.5%up Benchmark median 2.5% | $6.67B5.4%up Benchmark median 9.0% | 9.9% Benchmark median 6.1% |
| Cash & Equivalents | $2.54B28.6%up Benchmark median 5.2% | $1.97B44.9%up Benchmark median 1.9% | $1.36B5.9%down Benchmark median 6.7% | $1.45B7.6%down Benchmark median -8.6% | $1.57B33.9%down Benchmark median -2.9% | 12.8% Benchmark median 2.0% |
| Total Debt | — | — | — | — | — | — Benchmark median 4.3% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.58B2.6%down Benchmark median 6.3% | $3.68B25.6%up Benchmark median 4.8% | $2.93B14.0%up Benchmark median 9.9% | $2.57B17.6%up Benchmark median -0.7% | $2.18B35.1%up Benchmark median 10.7% | 13.2% Benchmark median 7.0% |
| Capital Expenditures | — | — | — | — | — | — Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | — | — | — | — | — | — Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
6.3%
Wall Street
on net earnings
FY2024 7.5%
— Not reported
Value investor
on free cash flow
FY2024 — Not reported
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 15.8×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Book yield
Net assets behind a dollar of market value
34.6%
Wall Street
on book equity
FY2024 35.6%
33.7%
Value investor
on tangible book
FY2024 34.4%
Gap −0.9 pts: Value-investor figure 0.9 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 2.9×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
19.6%
Wall Street
ROE: net income ÷ equity
FY2024 22.1%
— Not reported
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 — Not reported
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on WRB yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on WRB and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/WRB
Valuein. (2026, October 31). BERKLEY W R CORP (WRB) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/WRB
@misc{valuein_wrb_2026,
author = {{Valuein}},
title = {BERKLEY W R CORP (WRB) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/WRB}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Feb 27, 2026 · accession 0000011544-26-000005
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point-in-time · survivorship-free · every number traceable to its SEC filing
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