CNA Financial Corporation (CNA) vs W.R. Berkley Corporation (WRB)

CNA Financial Corporation and W.R. Berkley Corporation are both Insurance Property & Casualty companies. W.R. Berkley Corporation is the larger, with a market value of $25.0B against $12.5B — 2.0× the size. CNA Financial Corporation trades at the lower P/E: 10.1× against 13.7×. W.R. Berkley Corporation grew revenue faster over the last twelve months: 4.27% against 3.41%. W.R. Berkley Corporation has the higher net margin (12.9% vs 8.16%) and the higher return on invested capital (15.7% vs 7.69%). Both pay a dividend; CNA Financial Corporation yields more (8.30% vs 1.72%). Across the 23 metrics below, W.R. Berkley Corporation leads on 12 and CNA Financial Corporation on 11.

Valuation

Metric CNA WRB Insurance Property & Casualty median
P/E 10.11 13.66 10.29
P/S 0.82 1.75 1.17
P/B 1.11 2.64 1.83
Price to free cash flow 5.49 7.62 7.48
EV/EBITDA 10.03 10.60 7.49
EV/Sales 1.03 1.76 1.13
Earnings yield 9.90% 7.32% 9.50%
Free cash flow yield 18.20% 13.13% 13.29%

Profitability

Metric CNA WRB Insurance Property & Casualty median
Gross margin 43.73% 47.56% 41.16%
Operating margin 11.23% 17.04% 15.09%
Net margin 8.16% 12.94% 11.51%
Free cash flow margin 14.96% 22.92% 17.59%
Return on equity 11.32% 20.14% 18.19%
Return on assets 1.78% 4.37% 3.74%
Return on invested capital 7.69% 15.74% 12.06%

Growth

Metric CNA WRB Insurance Property & Casualty median
Revenue growth (TTM) 3.41% 4.27% 8.69%
EPS growth (last fiscal year) 33.24% 2.06% —
Revenue growth, 5-year CAGR 6.76% 12.67% 9.23%
Net income growth, 5-year CAGR 13.12% 27.38% 10.09%

Health

Metric CNA WRB Insurance Property & Casualty median
Debt to equity 0.27 0.29 0.25
Current ratio 0.23 0.32 0.42
Net debt to EBITDA 1.57 0.13 0.08

Dividend

Metric CNA WRB Insurance Property & Casualty median
Dividend yield 8.30% 1.72% 2.79%
Payout ratio 0.45 0.09 0.27

Size

Metric CNA WRB Insurance Property & Casualty median
Market cap 12.48b 24.98b 2.44b

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