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Wednesday 4 November 2026 Export WRB’s income statement to Excel — free account

W.R. Berkley Corporation

WRB Financial Insurance Property & Casualty

W.R. Berkley Corporation’s revenue for fiscal 2025 (year ended December 2025) was $14.7 billion, up 7.84% from fiscal 2024.

Revenue
−0.78%
EPS
−10.9%
Free cash flow
+6.14%
Total debt
−0.05%

Quarter to September 2026, against a year earlier

76.62 1.50 +2.00%
Market cap
$27.9B
P/E
15.8×
Fwd P/E
15.1×
Dividend yield
0.25%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
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W.R. Berkley Corporation (WRB) valuation and DCF model

What the price implies · reverse DCF

At $76.62 the price implies 23.0% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 29.5% a year over the last ten years, 54.6% over the last five. The price asks for close to its ten-year rate.

In December 2017 the price assumed 13.9% a year; W.R. Berkley Corporation went on to grow the dividend a share 34.3% a year to FY2025.

Price implies
23.0%
Last 5 years, reported
54.6%
Last 10 years, reported
29.5%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
23.0% a year for ten years
$76.62
today’s price
Its base case
20.0% a year for five years, then 12.0%
$46.70
39.0% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record W.R. Berkley Corporation’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 23.0% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against W.R. Berkley Corporation’s own cost of capital: risk-free 4.3% + beta 0.22 × equity premium 4.5% = 5.3% cost of equity; weighted, 5.3%.

Use 5.3%
Base case value per share $46.70 ten years discounted, and what follows
Current price $76.62 market price per share
Below today’s price 39.0% downside at the base case’s assumptions

How we got there$16.20 10 years of dividends+$30.50 terminal value=$46.70 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Insurance Property & Casualty).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 15.82× 14.69× 16.14× 2% below 11.87× 33% above
P/FCF 8.55× 7.66× 25.68× 67% below 8.12× 5% above
P/B 2.97× 2.84× 2.39× 24% above 1.99× 49% above
EV/EBITDA — 11.25× 11.14× — 3.38× —
EV/Sales — 1.83× 1.67× — 3.90× —
P/E P/FCF P/B EV/EBITDA EV/Sales
13.75×16.79×19.83×22.87×10Y avg 16.14×2017201820192020202120222023202420252026

WRB trades at 15.82× P/E, against a 10-year average of 16.14× (range 13.30×–23.22×). That is dearer than 67% of the last 9 year-end readings; re-rating to the average implies $78.19 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.