Old Republic International Corporation (ORI) vs W.R. Berkley Corporation (WRB)

Old Republic International 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 $9.2B — 2.7× the size. Old Republic International Corporation trades at the lower P/E: 8.1× against 13.7×. Old Republic International Corporation grew revenue faster over the last twelve months: 12.1% against 4.27%. W.R. Berkley Corporation has the higher net margin (12.9% vs 11.7%) and the higher return on invested capital (15.7% vs 12.1%). Both pay a dividend; Old Republic International Corporation yields more (3.63% vs 1.72%). Across the 23 metrics below, W.R. Berkley Corporation leads on 12 and Old Republic International Corporation on 11.

Valuation

Metric ORI WRB Insurance Property & Casualty median
P/E 8.06 13.66 10.29
P/S 0.93 1.75 1.17
P/B 1.49 2.64 1.83
Price to free cash flow 7.07 7.62 7.48
EV/EBITDA 7.11 10.60 7.49
EV/Sales 1.12 1.76 1.13
Earnings yield 12.41% 7.32% 9.50%
Free cash flow yield 14.14% 13.13% 13.29%

Profitability

Metric ORI WRB Insurance Property & Casualty median
Gross margin 15.79% 47.56% 41.16%
Operating margin 15.79% 17.04% 15.09%
Net margin 11.71% 12.94% 11.51%
Free cash flow margin 13.17% 22.92% 17.59%
Return on equity 18.52% 20.14% 18.19%
Return on assets 3.74% 4.37% 3.74%
Return on invested capital 12.06% 15.74% 12.06%

Growth

Metric ORI WRB Insurance Property & Casualty median
Revenue growth (TTM) 12.12% 4.27% 8.69%
EPS growth (last fiscal year) 14.81% 2.06% —
Revenue growth, 5-year CAGR 4.98% 12.67% 9.23%
Net income growth, 5-year CAGR 10.86% 27.38% 10.09%

Health

Metric ORI WRB Insurance Property & Casualty median
Debt to equity 0.38 0.29 0.25
Current ratio 0.19 0.32 0.42
Net debt to EBITDA 1.04 0.13 0.08

Dividend

Metric ORI WRB Insurance Property & Casualty median
Dividend yield 3.63% 1.72% 2.79%
Payout ratio 0.36 0.09 0.27

Size

Metric ORI WRB Insurance Property & Casualty median
Market cap 9.16b 24.98b 2.44b

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