W. R. Berkley Corporation

Financials Property & Casualty Insurance Greenwich, Connecticut Last filing Feb 27, 2026 · FY2025

                    Revenue
                    FY2025
                
$14.7B
                    3y CAGR +9.6%
                    
                    P34
                    
                    +7.8%
                    
                    Net income
                    FY2025
                
$1.8B
                    Net margin +12.1%
                    
                    P21
                    
                    +1.3%
                    
                    Total assets
                    FY2025
                
$44.1B
                    ROA +4.0%
                    
                    P64
                    
                    +8.6%
                    
                    Operating cash flow
                    FY2025
                
$3.6B
                    
                    -2.6%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

22 accounts · 3 years

Total assets $44.1B

Total liabilities $34.4B

Shareholders equity $9.7B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	$2.5B 28.6%	$2.0B 44.9%	$1.4B
Short Term Investments	$1.2B 8.8%	$1.1B 19.7%	$938.0M
Other Current Assets	$809.4M -7.7%	$877.1M 1.3%	$865.6M
Property,Plant and Equipment	$596.2M 24.6%	$478.5M 12.1%	$426.8M
Goodwill	$184.3M 0.0%	$184.3M 5.6%	$174.6M
Long Term Investments	$1.4B -7.2%	$1.5B -9.5%	$1.6B
Other Noncurrent Assets	$809.4M -7.7%	$877.1M 1.3%	$865.6M
Total Assets	$44.1B 8.6%	$40.6B 9.0%	$37.2B
Liabilities
Other Current Liabilities	$1.7B 0.6%	$1.7B 14.1%	$1.5B
Total Current Liabilities	$34.4B 6.8%	$32.2B 8.2%	$29.7B
Deferred Tax Liabilities	$99.9M 53.3%	$65.2M 52.7%	$42.7M
Other Noncurrent Liabilities	$1.7B 0.6%	$1.7B 14.1%	$1.5B
Total Liabilities	$34.4B 6.8%	$32.2B 8.2%	$29.7B
Equity
Preferred Stock	$0	$0	$0
Common Stock	$158.7M 0.0%	$158.7M 50.0%	$105.8M
Additional Paid In Capital	$987.7M 0.3%	$984.8M -3.2%	$1.0B
Retained Earnings	$13.3B 8.8%	$12.3B 11.1%	$11.0B
Treasury Stock	$4.3B 6.4%	$4.1B 7.8%	$3.8B
Accumulated Other Comprehensive Income	$-451.1M 51.7%	$-934.3M -0.9%	$-925.8M
Noncontrolling Interest	$11.1M -10.2%	$12.3M -10.7%	$13.8M
Total Stockholders Equity	$9.7B 15.6%	$8.4B 12.6%	$7.5B
Total Liabilitiesand Equity	$44.1B 8.6%	$40.6B 9.0%	$37.2B

Income Statement

Revenue, expense, and profitability

14 accounts · 3 years

Revenue $14.7B

Operating income $1.8B

Net income $1.8B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	$14.7B 7.8%	$13.6B 12.3%	$12.1B
Expenses Share Based Compensation	$54.5M 0.3%	$54.4M 6.6%	$51.0M
Expenses Operating Expenses	$12.4B 9.3%	$11.4B 9.5%	$10.4B
Other Income Expense Operating Income	$1.8B 1.3%	$1.8B 27.1%	$1.4B
Other Income Expense Interest Expense	$126.9M 0.0%	$126.9M -0.4%	$127.5M
Other Income Expense Other Income/expense	$132.2M 12.3%	$117.7M 150.2%	$47.0M
Other Income Expense Income Before Tax	$2.3B 0.7%	$2.3B 29.1%	$1.8B
Income Tax Income Tax Expense	$495.8M -2.8%	$509.9M 37.6%	$370.6M
net Income net Income	$1.8B 1.3%	$1.8B 27.1%	$1.4B
net Income Comprehensive Income	$2.3B 29.5%	$1.7B 1.6%	$1.7B
Earnings Per Share Basic Eps	$4 2.1%	$4 29.1%	$3
Earnings Per Share Diluted Eps	$4 2.1%	$4 29.4%	$3
Earnings Per Share Weighted Average Shares Basic	$397.0M -0.7%	$399.7M -1.7%	$406.5M
Earnings Per Share Weighted Average Shares Diluted	$399.9M -0.8%	$403.2M -1.6%	$409.9M

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 3 years

Operating cash flow $3.6B

Investing cash flow $-2.0B

Financing cash flow $-1.0B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	$1.8B 1.3%	$1.8B 27.1%	$1.4B
Operating Activities Depreciation and Amortization	$54.0M -1.8%	$55.0M 7.8%	$51.0M
Operating Activities Stock Based Compensation	$54.5M 0.3%	$54.4M 6.6%	$51.0M
Operating Activities Deferred Income Taxes	$-14.5M -115.0%	$96.4M 460.9%	$-26.7M
Operating Activities Changes In Operating Assets and Liabilities	$139.2M 96.5%	$70.9M 389.9%	$14.5M
Operating Activities Other Non Cash Items	$139.2M 96.5%	$70.9M 389.9%	$14.5M
Operating Activities net Cash From Operating Activities	$3.6B -2.6%	$3.7B 25.6%	$2.9B
Investing Activities Business Acquisitions	$0	$0 -100.0%	$11.6M
Investing Activities Purchases of Investments	$8.4B -10.0%	$9.4B 40.6%	$6.7B
Investing Activities Proceeds From Sale of Investments	$5.3B 8.6%	$4.9B 39.5%	$3.5B
Investing Activities net Cash From Investing Activities	$-2.0B 7.1%	$-2.2B -11.3%	$-2.0B
Financing Activities Proceeds From Debt	$0 -100.0%	$3.1M 216.8%	$980.0K
Financing Activities Repayment of Debt	$2.1M	$0 -100.0%	$974.0K
Financing Activities Repurchase of Common Stock	$270.2M -11.0%	$303.7M -43.5%	$537.2M
Financing Activities Dividends Paid	$700.3M 31.6%	$532.0M 6.1%	$501.5M
Financing Activities Other Financing Activities	$-53.9M -169.7%	$-20.0M 12.7%	$-22.9M
Financing Activities net Cash From Financing Activities	$-1.0B -20.4%	$-852.5M 19.8%	$-1.1B
Cash Reconciliation Effect of Exchange Rate On Cash	$38.4M 228.5%	$-29.8M -429.0%	$9.1M
Cash Reconciliation net Change In Cash	$565.2M -7.6%	$611.6M 809.9%	$-86.2M
Cash Reconciliation Cash At Beginning of Period	$2.5B 28.6%	$2.0B 44.9%	$1.4B
Cash Reconciliation Cash At End of Period	$2.5B 28.6%	$2.0B 44.9%	$1.4B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	—	—	—
Operating margin	+12.1%	+12.9%	+11.4%
Net margin	+12.1%	+12.9%	+11.4%
FCF margin	—	—	—
Growth
Revenue CAGR (3y)	+9.6%	+13.0%	+14.5%
Returns
ROE	+18.3%	+20.9%	+18.5%
ROA	+4.0%	+4.3%	+3.7%
ROIC	—	—	—
Liquidity
Current ratio	—	—	—
Quick ratio	—	—	—
Leverage
D/E	3.54x	3.83x	3.99x
Interest coverage	14.02x	13.84x	10.84x
Efficiency
Asset turnover	0.33x	0.34x	0.33x
Cash conversion cycle	—	—	—

Valuation

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FY2025 fundamentals · no price

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W. R. Berkley Corporation

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