Loews Corporation (L) vs W.R. Berkley Corporation (WRB)

Loews 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 $21.5B — 1.2× the size. Loews Corporation trades at the lower P/E: 12.8× against 13.7×. W.R. Berkley Corporation grew revenue faster over the last twelve months: 4.27% against 3.50%. W.R. Berkley Corporation has the higher net margin (12.9% vs 9.02%) and the higher return on invested capital (15.7% vs 6.03%). Both pay a dividend; W.R. Berkley Corporation yields more (1.72% vs 0.35%). Across the 23 metrics below, W.R. Berkley Corporation leads on 16 and Loews Corporation on 7.

Valuation

Metric L WRB Insurance Property & Casualty median
P/E 12.85 13.66 10.29
P/S 1.15 1.75 1.17
P/B 1.08 2.64 1.83
Price to free cash flow 12.20 7.62 7.48
EV/EBITDA 10.91 10.60 7.49
EV/Sales 1.60 1.76 1.13
Earnings yield 7.78% 7.32% 9.50%
Free cash flow yield 8.20% 13.13% 13.29%

Profitability

Metric L WRB Insurance Property & Casualty median
Gross margin 54.39% 47.56% 41.16%
Operating margin 14.69% 17.04% 15.09%
Net margin 9.02% 12.94% 11.51%
Free cash flow margin 9.45% 22.92% 17.59%
Return on equity 8.78% 20.14% 18.19%
Return on assets 1.96% 4.37% 3.74%
Return on invested capital 6.03% 15.74% 12.06%

Growth

Metric L WRB Insurance Property & Casualty median
Revenue growth (TTM) 3.50% 4.27% 8.69%
EPS growth (last fiscal year) 24.34% 2.06% —
Revenue growth, 5-year CAGR 7.96% 12.67% 9.23%
Net income growth, 5-year CAGR 0.00% 27.38% 10.09%

Health

Metric L WRB Insurance Property & Casualty median
Debt to equity 0.45 0.29 0.25
Current ratio 0.25 0.32 0.42
Net debt to EBITDA 2.88 0.13 0.08

Dividend

Metric L WRB Insurance Property & Casualty median
Dividend yield 0.35% 1.72% 2.79%
Payout ratio 0.05 0.09 0.27

Size

Metric L WRB Insurance Property & Casualty median
Market cap 21.48b 24.98b 2.44b

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