W. R. Berkley (WRB) Financials

$73.17 -0.62 (-0.84%)

Closing price 06/13/2025 03:59 PM Eastern

Extended Trading

$73.26 +0.09 (+0.13%)

As of 06/13/2025 07:22 PM Eastern

Annual Income Statements for W. R. Berkley

This table shows W. R. Berkley's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	504	602	549	641	682	531	1,022	1,381	1,381	1,756
Consolidated Net Income / (Loss)	504	603	553	649	684	533	1,031	1,385	1,384	1,755
Net Income / (Loss) Continuing Operations	504	603	553	649	684	533	1,031	1,385	1,384	1,755
Total Pre-Tax Income	732	896	773	812	853	705	1,283	1,720	1,754	2,264
Total Revenue	7,206	7,654	7,685	7,534	7,902	7,948	9,455	11,166	12,143	13,639
Net Interest Income / (Expense)	-131	0.00	0.00	-157	0.00	-151	0.00	0.00	0.00	0.00
Total Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Interest Expense	131	0.00	0.00	157	0.00	151	0.00	0.00	0.00	0.00
Total Non-Interest Income	7,206	7,654	7,685	7,692	7,902	8,099	9,455	11,166	12,143	13,639
Other Service Charges	140	139	136	118	96	91	98	114	107	111
Net Realized & Unrealized Capital Gains on Investments	605	831	912	829	766	687	762	982	1,100	1,451
Premiums Earned	6,041	6,293	6,311	6,372	6,633	6,931	8,106	9,561	10,401	11,548
Other Non-Interest Income	421	390	326	373	407	390	489	510	536	528
Total Non-Interest Expense	6,343	6,758	6,912	6,722	7,049	7,244	8,173	9,447	10,389	11,374
Property & Liability Insurance Claims	3,656	3,846	4,002	3,975	4,131	4,469	4,954	5,862	6,372	7,132
Other Operating Expenses	2,687	2,912	2,910	2,748	2,918	2,775	3,219	3,585	4,016	4,243
Income Tax Expense	228	293	219	163	169	172	252	335	371	510
Net Income / (Loss) Attributable to Noncontrolling Interest	0.41	1.57	4.24	8.32	2.04	2.32	8.53	3.89	2.49	-1.54
Basic Earnings per Share	$4.06	$4.91	$2.93	$3.37	$3.58	$1.89	$3.69	$3.33	$3.40	$4.39
Weighted Average Basic Shares Outstanding	121.21M	-	124.84M	126.70M	183.42M	126.70M	183.42M	263.45M	256.55M	379.23M
Diluted Earnings per Share	$3.87	$4.68	$2.84	$3.33	$3.52	$1.87	$3.66	$3.29	$3.37	$4.36
Weighted Average Diluted Shares Outstanding	121.21M	-	124.84M	126.70M	183.42M	126.70M	183.42M	263.45M	256.55M	379.23M
Weighted Average Basic & Diluted Shares Outstanding	121.21M	-	124.84M	126.70M	183.42M	126.70M	183.42M	263.45M	256.55M	379.23M
Cash Dividends to Common per Share	-	-	$1.03	$1.39	$1.68	$0.47	$2.01	-	-	$1.40

This table shows W. R. Berkley's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	229	382	294	356	334	397	442	372	366	576	418
Consolidated Net Income / (Loss)	230	382	296	356	333	399	442	372	365	575	417
Net Income / (Loss) Continuing Operations	230	382	296	356	333	399	442	372	365	575	417
Total Pre-Tax Income	286	478	376	457	420	501	574	488	474	728	539
Total Revenue	2,724	3,049	2,895	2,996	3,031	3,221	3,257	3,314	3,400	3,668	3,547
Net Interest Income / (Expense)	0.00	35	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Interest Income	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Interest Expense	0.00	-35	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Non-Interest Income	2,724	3,014	2,895	3,006	3,031	3,211	3,257	3,314	3,400	3,668	3,547
Other Service Charges	28	30	33	25	23	25	26	28	29	28	29
Net Realized & Unrealized Capital Gains on Investments	135	306	246	314	229	311	346	314	316	476	377
Premiums Earned	2,442	2,513	2,491	2,553	2,642	2,715	2,764	2,846	2,927	3,011	3,012
Other Non-Interest Income	119	164	124	114	137	160	121	126	129	153	129
Total Non-Interest Expense	2,438	2,570	2,519	2,539	2,611	2,720	2,683	2,826	2,926	2,939	3,009
Property & Liability Insurance Claims	1,565	1,522	1,539	1,570	1,636	1,628	1,664	1,781	1,826	1,861	1,901
Other Operating Expenses	874	1,048	980	969	974	1,093	1,019	1,046	1,100	1,078	1,108
Income Tax Expense	56	96	80	101	87	102	132	116	109	153	121
Net Income / (Loss) Attributable to Noncontrolling Interest	1.60	-0.24	1.60	-0.58	-0.16	1.62	-0.44	-0.02	-0.32	-0.76	-0.22
Basic Earnings per Share	$0.83	$1.45	$1.07	$0.88	$0.83	$1.55	$1.65	$0.93	$0.92	$1.52	$1.05
Weighted Average Basic Shares Outstanding	265.48M	263.45M	260.77M	257.52M	257.87M	256.55M	255.66M	380.55M	381.07M	379.23M	379.36M
Diluted Earnings per Share	$0.82	$1.45	$1.06	$0.87	$0.82	$1.55	$1.64	$0.92	$0.91	$1.52	$1.04
Weighted Average Diluted Shares Outstanding	265.48M	263.45M	260.77M	257.52M	257.87M	256.55M	255.66M	380.55M	381.07M	379.23M	379.36M
Weighted Average Basic & Diluted Shares Outstanding	265.48M	263.45M	260.77M	257.52M	257.87M	256.55M	255.66M	380.55M	381.07M	379.23M	379.36M
Cash Dividends to Common per Share	$0.10	$0.20	$0.60	-	-	$1.23	$0.11	$0.41	$0.33	$0.58	$0.08

This table details how cash moves in and out of W. R. Berkley's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	89	32	155	-133	206	1,349	-804	-119	-86	612
Net Cash From Operating Activities	881	848	711	620	1,144	1,617	2,184	2,569	2,929	3,678
Net Cash From Continuing Operating Activities	881	848	711	620	1,144	1,617	2,184	2,569	2,929	3,678
Net Income / (Loss) Continuing Operations	504	602	549	641	682	531	1,022	1,381	1,381	1,756
Consolidated Net Income / (Loss)	504	602	549	641	682	531	1,022	1,381	1,381	1,756
Depreciation Expense	85	86	113	131	113	135	130	56	-21	-171
Non-Cash Adjustments to Reconcile Net Income	-122	-328	-360	-135	-139	-105	-255	-294	-10	-53
Changes in Operating Assets and Liabilities, net	414	488	409	-17	487	1,056	1,287	1,426	1,579	2,146
Net Cash From Investing Activities	-171	-794	-333	-714	-425	120	-2,989	-1,891	-1,962	-2,184
Net Cash From Continuing Investing Activities	-171	-794	-333	-714	-425	120	-2,989	-1,891	-1,962	-2,184
Purchase of Property, Leasehold Improvements and Equipment	-64	-51	-116	-50	-60	-38	-67	-53	-53	-106
Purchase of Investment Securities	-4,666	-5,930	-8,275	-7,377	-5,474	-7,626	-10,941	-8,556	-6,808	-9,719
Divestitures	0.00	250	0.00	8.66	-	0.00	0.00	907	97	0.00
Sale and/or Maturity of Investments	4,581	4,915	8,062	6,700	5,107	7,810	8,036	5,796	4,837	7,533
Other Investing Activities, net	-23	21	-4.37	4.26	2.84	-27	-18	14	-34	107
Net Cash From Financing Activities	-555	-6.93	-235	-7.40	-513	-398	5.83	-772	-1,062	-852
Net Cash From Continuing Financing Activities	-555	-6.93	-235	-7.40	-513	-398	5.83	-772	-1,062	-852
Issuance of Debt	9.06	389	6.98	295	291	742	1,034	0.00	0.98	3.11
Repayment of Debt	-281	-75	-0.02	-22	-456	-653	-505	-430	-1.95	0.00
Repurchase of Common Equity	-224	-132	-48	-25	-18	-346	-122	-94	-537	-304
Payment of Dividends	-58	-184	-188	-255	-308	-84	-356	-235	-501	-532
Other Financing Activities, Net	-1.60	-3.82	-6.04	-	-21	-56	-45	-13	-23	-20
Effect of Exchange Rate Changes	-66	-15	13	-31	0.38	10	-4.20	-25	9.07	-30

This table details how cash moves in and out of W. R. Berkley's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-186	319	-207	581	-177	-283	-194	411	-7.03	402	-255
Net Cash From Operating Activities	768	795	445	709	1,077	698	746	881	1,241	810	744
Net Cash From Continuing Operating Activities	768	795	445	709	1,077	698	746	881	1,241	810	744
Net Income / (Loss) Continuing Operations	229	382	294	356	334	397	442	372	366	576	418
Consolidated Net Income / (Loss)	229	382	294	356	334	397	442	372	366	576	418
Depreciation Expense	8.80	9.84	9.74	-2.84	-3.61	-24	-81	-64	-12	-14	-9.79
Non-Cash Adjustments to Reconcile Net Income	45	-85	-12	-45	51	-4.27	16	47	16	-133	-31
Changes in Operating Assets and Liabilities, net	485	489	153	400	697	329	368	527	871	380	367
Net Cash From Investing Activities	-761	-341	-359	198	-1,235	-565	-905	-87	-1,105	-87	-924
Net Cash From Continuing Investing Activities	-761	-341	-359	198	-1,235	-565	-905	-87	-1,105	-87	-924
Purchase of Property, Leasehold Improvements and Equipment	-13	-17	-12	-14	-16	-11	-54	-24	-13	-14	-16
Purchase of Investment Securities	-2,770	-455	-1,737	-1,166	-2,268	-1,638	-2,402	-2,174	-3,027	-2,115	-2,561
Sale and/or Maturity of Investments	1,915	294	1,403	1,170	1,141	1,123	1,481	2,016	1,978	2,057	1,638
Other Investing Activities, net	108	-163	-14	114	-92	-42	70	95	-43	-15	15
Net Cash From Financing Activities	-184	-137	-296	-320	-23	-424	-30	-378	-154	-291	-81
Net Cash From Continuing Financing Activities	-184	-137	-296	-320	-23	-424	-30	-378	-154	-291	-81
Issuance of Debt	1.99	-2.18	-0.87	1.03	0.94	-0.12	0.02	0.40	-0.42	3.11	1.64
Repurchase of Common Equity	-6.57	-88	-135	-292	-2.92	-107	0.00	-224	-12	-67	-49
Payment of Dividends	-159	-53	-159	-28	-	-315	-28	-158	-126	-220	-30
Other Financing Activities, Net	-20	8.96	-1.11	1.44	-21	-2.36	-1.51	2.45	-15	-6.04	-3.51
Effect of Exchange Rate Changes	-8.84	1.38	2.84	-5.50	3.62	8.11	-5.56	-4.50	11	-31	7.47

This table presents W. R. Berkley's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2016	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	23,365	23,365	24,300	24,896	26,662	28,607	32,086	33,861	37,202	40,567
Cash and Due from Banks	795	795	950	818	1,024	2,372	1,569	1,449	1,363	1,975
Trading Account Securities	15,358	15,358	15,901	15,671	2,095	16,094	19,025	20,382	22,890	2,672
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accrued Investment Income	127	127	137	144	139	120	123	167	213	244
Premises and Equipment, Net	349	349	423	416	422	406	420	423	427	479
Mortgage Servicing Rights	107	107	80	95	92	85	115	193	201	405
Unearned Premiums Asset	2,115	2,115	2,246	2,307	4,698	2,816	6,123	3,476	3,868	7,648
Deferred Acquisition Cost	538	538	508	498	517	556	676	763	862	952
Goodwill	145	145	179	173	170	170	170	186	175	184
Other Assets	3,831	3,831	3,877	4,774	17,505	5,987	3,866	6,822	7,203	26,009
Total Liabilities & Shareholders' Equity	23,365	23,365	24,300	24,896	26,662	28,607	32,086	33,861	37,202	40,567
Total Liabilities	18,284	18,284	18,849	19,416	20,544	22,281	25,419	27,093	29,733	32,160
Long-Term Debt	2,488	2,488	2,497	2,790	2,626	2,725	3,267	2,837	2,837	2,841
Claims and Claim Expense	11,197	11,197	11,670	11,966	12,583	13,784	15,391	17,011	18,740	20,368
Unearned Premiums Liability	3,283	3,283	3,290	3,360	3,657	4,073	4,847	5,298	5,922	6,375
Other Long-Term Liabilities	1,315	1,315	1,391	1,300	1,668	1,698	1,860	1,947	2,234	2,576
Total Equity & Noncontrolling Interests	5,081	5,081	5,451	5,480	6,118	6,326	6,668	6,768	7,469	8,407
Total Preferred & Common Equity	5,047	5,047	5,411	5,438	6,075	6,311	6,653	6,748	7,455	8,395
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	5,047	5,047	5,411	5,438	6,075	6,311	6,653	6,748	7,455	8,395
Common Stock	1,084	1,084	1,095	1,110	1,127	1,083	1,087	1,103	1,123	1,144
Retained Earnings	6,596	6,596	6,957	7,559	7,932	8,348	9,015	10,161	11,041	12,265
Treasury Stock	-2,689	-2,689	-2,709	-2,720	-2,727	-3,058	-3,167	-3,251	-3,783	-4,079
Accumulated Other Comprehensive Income / (Loss)	56	56	69	-510	-257	-62	-282	-1,265	-926	-934
Noncontrolling Interest	34	34	40	42	43	15	15	20	14	12

This table presents W. R. Berkley's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Total Assets	33,077	33,861	34,296	35,309	36,111	37,202	37,851	38,910	40,359	40,567	41,346
Cash and Due from Banks	1,131	1,449	1,242	1,824	1,646	1,363	1,169	1,580	1,573	1,975	1,720
Trading Account Securities	22,665	20,382	20,973	20,890	21,818	22,890	23,699	2,667	2,656	2,672	26,246
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accrued Investment Income	151	167	181	185	201	213	218	225	234	244	236
Premises and Equipment, Net	414	423	421	421	423	427	467	477	478	479	482
Mortgage Servicing Rights	-	193	195	182	178	201	229	349	390	405	420
Unearned Premiums Asset	6,615	3,476	3,516	7,241	3,861	3,868	7,439	7,748	7,724	7,648	4,133
Deferred Acquisition Cost	767	763	787	830	854	862	889	939	958	952	978
Goodwill	170	186	186	175	175	175	175	184	184	184	184
Other Assets	1,165	6,822	6,796	3,563	6,955	7,203	3,568	24,740	26,163	26,009	6,946
Total Liabilities & Shareholders' Equity	33,077	33,861	34,296	35,309	36,111	37,202	37,851	38,910	40,359	40,567	41,346
Total Liabilities	26,707	27,093	27,330	28,400	29,181	29,733	30,053	31,123	31,920	32,160	32,419
Long-Term Debt	2,842	2,837	2,837	2,836	2,837	2,837	2,837	2,838	2,837	2,841	1,833
Claims and Claim Expense	16,540	17,011	17,432	17,920	18,273	18,740	19,100	19,567	20,155	20,368	20,922
Unearned Premiums Liability	5,375	5,298	5,386	5,698	5,900	5,922	5,997	6,333	6,490	6,375	6,494
Other Long-Term Liabilities	1,948	1,947	1,676	1,946	2,171	2,234	2,119	2,385	2,438	2,576	3,170
Total Equity & Noncontrolling Interests	6,370	6,768	6,966	6,908	6,930	7,469	7,799	7,787	8,439	8,407	8,926
Total Preferred & Common Equity	6,346	6,748	6,944	6,887	6,916	7,455	7,785	7,774	8,426	8,395	8,914
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	6,346	6,748	6,944	6,887	6,916	7,455	7,785	7,774	8,426	8,395	8,914
Common Stock	1,091	1,103	1,114	1,127	1,114	1,123	1,136	1,146	1,132	1,144	1,152
Retained Earnings	9,805	10,161	10,297	10,625	10,801	11,041	11,455	11,670	11,909	12,265	12,652
Treasury Stock	-3,164	-3,251	-3,388	-3,682	-3,676	-3,783	-3,783	-4,008	-4,012	-4,079	-4,128
Accumulated Other Comprehensive Income / (Loss)	-1,386	-1,265	-1,079	-1,182	-1,323	-926	-1,024	-1,034	-603	-934	-762
Noncontrolling Interest	24	20	22	21	14	14	14	13	13	12	12

This table displays calculated financial ratios and metrics derived from W. R. Berkley's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.94%	6.21%	0.40%	-1.96%	4.88%	0.58%	18.96%	18.10%	8.74%	12.32%
EBITDA Growth	-8.93%	3.63%	-9.85%	6.49%	2.45%	-13.08%	68.19%	25.70%	-2.37%	20.78%
EBIT Growth	-9.37%	3.88%	-13.80%	5.09%	5.03%	-17.37%	82.02%	34.05%	2.02%	29.07%
NOPAT Growth	-22.40%	19.71%	-8.31%	17.30%	5.38%	-22.08%	93.44%	34.33%	-0.08%	26.79%
Net Income Growth	-22.40%	19.71%	-8.31%	17.30%	5.38%	-22.08%	93.44%	34.33%	-0.08%	26.79%
EPS Growth	-20.37%	20.93%	-8.31%	17.30%	5.71%	-22.08%	93.44%	34.33%	-0.08%	29.38%
Operating Cash Flow Growth	19.93%	-3.74%	-16.21%	-12.76%	84.42%	41.34%	35.09%	17.61%	14.04%	25.57%
Free Cash Flow Firm Growth	150.80%	4,070.88%	-71.12%	88.33%	-36.41%	8.53%	-58.62%	1,786.67%	-61.37%	18.97%
Invested Capital Growth	6.92%	0.00%	5.01%	4.04%	5.75%	3.51%	10.36%	-3.84%	7.30%	9.14%
Revenue Q/Q Growth	1.82%	2.20%	-0.45%	-2.76%	2.90%	1.86%	4.61%	4.40%	1.44%	3.38%
EBITDA Q/Q Growth	14.32%	-5.59%	-1.39%	-1.98%	0.10%	35.52%	-3.77%	6.30%	-0.64%	12.80%
EBIT Q/Q Growth	16.85%	-5.81%	-3.79%	-4.56%	-1.83%	55.88%	-3.37%	7.76%	1.32%	11.15%
NOPAT Q/Q Growth	-0.21%	7.82%	0.47%	-2.99%	-2.35%	56.63%	-1.73%	6.76%	1.24%	11.18%
Net Income Q/Q Growth	-0.21%	7.82%	0.47%	-2.99%	-2.35%	56.63%	-1.73%	6.76%	1.24%	11.18%
EPS Q/Q Growth	0.26%	1.74%	0.47%	-2.99%	-6.88%	56.63%	-1.73%	6.76%	1.24%	5.31%
Operating Cash Flow Q/Q Growth	12.93%	-14.09%	10.43%	16.68%	6.63%	8.82%	8.97%	5.58%	-3.21%	3.14%
Free Cash Flow Firm Q/Q Growth	-98.57%	727.66%	298.00%	-27.21%	-52.04%	168.63%	-59.58%	-12.21%	-16.03%	1,090.53%
Invested Capital Q/Q Growth	11.38%	1.58%	-0.13%	1.13%	3.58%	-0.67%	0.59%	4.26%	5.52%	-0.25%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	13.16%	12.84%	11.53%	12.52%	12.23%	10.57%	14.94%	15.90%	14.28%	15.35%
EBIT Margin	11.98%	11.71%	10.06%	10.78%	10.79%	8.87%	13.57%	15.40%	14.45%	16.60%
Profit (Net Income) Margin	7.00%	7.88%	7.20%	8.61%	8.66%	6.71%	10.90%	12.40%	11.40%	12.86%
Tax Burden Percent	68.86%	67.32%	71.60%	79.93%	80.19%	75.62%	80.37%	80.54%	78.88%	77.48%
Interest Burden Percent	84.83%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	31.14%	32.68%	28.40%	20.08%	19.81%	24.38%	19.63%	19.46%	21.12%	22.52%
Return on Invested Capital (ROIC)	6.88%	7.97%	7.13%	8.00%	8.04%	5.99%	10.83%	14.14%	13.90%	16.28%
ROIC Less NNEP Spread (ROIC-NNEP)	6.88%	7.97%	7.13%	8.00%	8.04%	5.99%	10.83%	14.14%	13.90%	16.28%
Return on Net Nonoperating Assets (RNNOA)	3.51%	3.90%	3.38%	3.87%	3.75%	2.58%	5.04%	6.48%	5.54%	5.82%
Return on Equity (ROE)	10.39%	11.88%	10.51%	11.88%	11.79%	8.57%	15.87%	20.62%	19.44%	22.10%
Cash Return on Invested Capital (CROIC)	0.20%	7.97%	2.25%	4.05%	2.45%	2.55%	0.98%	18.05%	6.86%	7.54%
Operating Return on Assets (OROA)	3.83%	3.84%	3.24%	3.30%	3.31%	2.55%	4.23%	5.22%	4.94%	5.82%
Return on Assets (ROA)	2.24%	2.58%	2.32%	2.64%	2.65%	1.93%	3.40%	4.20%	3.89%	4.51%
Return on Common Equity (ROCE)	10.32%	11.80%	10.43%	11.79%	11.71%	8.53%	15.83%	20.56%	19.39%	22.07%
Return on Equity Simple (ROE_SIMPLE)	9.99%	11.96%	10.23%	11.94%	11.26%	8.45%	15.50%	20.52%	18.56%	20.90%
Net Operating Profit after Tax (NOPAT)	504	603	553	649	684	533	1,031	1,385	1,384	1,755
NOPAT Margin	7.00%	7.88%	7.20%	8.61%	8.66%	6.71%	10.90%	12.40%	11.40%	12.86%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	88.03%	88.29%	89.94%	89.22%	89.21%	91.13%	86.43%	84.60%	85.55%	83.40%
Earnings before Interest and Taxes (EBIT)	863	896	773	812	853	705	1,283	1,720	1,754	2,264
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	948	982	886	943	966	840	1,413	1,776	1,734	2,094
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.74	0.90	0.93	0.99	1.27	1.15	1.38	1.79	1.58	2.66
Price to Tangible Book Value (P/TBV)	0.76	0.93	0.96	1.02	1.31	1.18	1.41	1.85	1.62	2.72
Price to Revenue (P/Rev)	0.52	0.60	0.66	0.71	0.98	0.91	0.97	1.08	0.97	1.64
Price to Earnings (P/E)	7.37	7.57	9.18	8.36	11.32	13.68	8.96	8.77	8.54	12.70
Dividend Yield	4.88%	3.67%	3.07%	4.08%	1.02%	1.15%	1.21%	1.30%	2.81%	2.39%
Earnings Yield	13.57%	13.20%	10.89%	11.96%	8.83%	7.31%	11.16%	11.41%	11.72%	7.87%
Enterprise Value to Invested Capital (EV/IC)	0.72	0.83	0.83	0.89	1.07	0.84	1.09	1.41	1.29	2.06
Enterprise Value to Revenue (EV/Rev)	0.75	0.82	0.86	0.98	1.19	0.96	1.16	1.21	1.09	1.70
Enterprise Value to EBITDA (EV/EBITDA)	5.74	6.40	7.48	7.81	9.70	9.08	7.74	7.61	7.66	11.07
Enterprise Value to EBIT (EV/EBIT)	6.30	7.01	8.58	9.08	10.98	10.82	8.52	7.86	7.57	10.24
Enterprise Value to NOPAT (EV/NOPAT)	10.79	10.42	11.98	11.35	13.70	14.31	10.60	9.76	9.60	13.21
Enterprise Value to Operating Cash Flow (EV/OCF)	6.17	7.41	9.32	11.88	8.19	4.72	5.00	5.26	4.53	6.30
Enterprise Value to Free Cash Flow (EV/FCFF)	375.88	10.42	38.03	22.46	44.89	33.67	116.64	7.65	19.44	28.53
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.49	0.49	0.46	0.51	0.43	0.43	0.50	0.42	0.38	0.34
Long-Term Debt to Equity	0.49	0.49	0.46	0.51	0.43	0.43	0.49	0.42	0.38	0.34
Financial Leverage	0.51	0.49	0.47	0.48	0.47	0.43	0.47	0.46	0.40	0.36
Leverage Ratio	4.65	4.60	4.53	4.50	4.45	4.44	4.67	4.91	4.99	4.90
Compound Leverage Factor	3.94	4.60	4.53	4.50	4.45	4.44	4.67	4.91	4.99	4.90
Debt to Total Capital	32.87%	32.87%	31.42%	33.73%	30.03%	30.11%	33.25%	29.54%	27.53%	25.26%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.54%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	32.87%	32.87%	31.42%	33.73%	30.03%	30.11%	32.71%	29.54%	27.53%	25.26%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.45%	0.45%	0.50%	0.51%	0.50%	0.17%	0.15%	0.21%	0.13%	0.11%
Common Equity to Total Capital	66.68%	66.68%	68.08%	65.76%	69.47%	69.72%	66.61%	70.26%	72.34%	74.63%
Debt to EBITDA	2.62	2.53	2.82	2.96	2.72	3.25	2.35	1.60	1.64	1.36
Net Debt to EBITDA	1.79	1.72	1.75	2.09	1.66	0.42	1.24	0.78	0.85	0.41
Long-Term Debt to EBITDA	2.62	2.53	2.82	2.96	2.72	3.25	2.31	1.60	1.64	1.36
Debt to NOPAT	4.94	4.12	4.51	4.30	3.84	5.11	3.22	2.05	2.05	1.62
Net Debt to NOPAT	3.36	2.81	2.80	3.04	2.34	0.66	1.70	1.00	1.07	0.49
Long-Term Debt to NOPAT	4.94	4.12	4.51	4.30	3.84	5.11	3.17	2.05	2.05	1.62
Noncontrolling Interest Sharing Ratio	0.70%	0.67%	0.70%	0.75%	0.74%	0.47%	0.23%	0.26%	0.24%	0.16%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	14	603	174	328	209	226	94	1,768	683	812
Operating Cash Flow to CapEx	1,386.53%	1,669.08%	614.32%	1,243.88%	1,891.91%	4,235.38%	3,277.59%	4,875.49%	5,518.53%	3,482.54%
Free Cash Flow to Firm to Interest Expense	0.11	0.00	0.00	2.09	0.00	1.50	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	6.73	0.00	0.00	3.95	0.00	10.74	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	6.24	0.00	0.00	3.63	0.00	10.49	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.32	0.33	0.32	0.31	0.31	0.29	0.31	0.34	0.34	0.35
Fixed Asset Turnover	21.15	21.90	19.90	17.95	18.85	19.20	22.90	26.49	28.57	30.13
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,569	7,569	7,948	8,269	8,745	9,051	9,988	9,605	10,306	11,248
Invested Capital Turnover	0.98	1.01	0.99	0.93	0.93	0.89	0.99	1.14	1.22	1.27
Increase / (Decrease) in Invested Capital	490	0.00	379	321	475	307	937	-383	701	942
Enterprise Value (EV)	5,439	6,285	6,628	7,370	9,368	7,626	10,930	13,517	13,279	23,179
Market Capitalization	3,712	4,558	5,041	5,356	7,723	7,258	9,164	12,109	11,791	22,300
Book Value per Share	$40.94	$41.58	$44.43	$44.53	$33.07	$35.41	$37.66	$25.42	$28.91	$22.03
Tangible Book Value per Share	$39.77	$40.39	$42.96	$43.11	$32.15	$34.46	$36.70	$24.72	$28.23	$21.55
Total Capital	7,569	7,569	7,948	8,269	8,745	9,051	9,988	9,605	10,306	11,248
Total Debt	2,488	2,488	2,497	2,790	2,626	2,725	3,321	2,837	2,837	2,841
Total Long-Term Debt	2,488	2,488	2,497	2,790	2,626	2,725	3,267	2,837	2,837	2,841
Net Debt	1,693	1,693	1,547	1,972	1,603	353	1,752	1,388	1,474	866
Capital Expenditures (CapEx)	64	51	116	50	60	38	67	53	53	106
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	2,488	2,488	2,497	2,790	2,626	2,725	3,321	2,837	2,837	2,841
Total Depreciation and Amortization (D&A)	85	86	113	131	113	135	130	56	-21	-171
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$1.96	$2.25	$2.39	$0.00	$3.69	$4.99	$5.10	$4.39
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	273.47M	274.53M	275.13M	0.00	265.19M	263.45M	256.55M	379.23M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$1.89	$2.22	$2.35	$0.00	$3.65	$4.94	$5.05	$4.36
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	273.47M	274.53M	275.13M	0.00	265.19M	263.45M	256.55M	379.23M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	273.47M	274.53M	275.13M	0.00	265.19M	263.45M	256.55M	379.23M
Normalized Net Operating Profit after Tax (NOPAT)	504	603	553	649	684	533	1,031	1,385	1,384	1,755
Normalized NOPAT Margin	7.00%	7.88%	7.20%	8.61%	8.66%	6.71%	10.90%	12.40%	11.40%	12.86%
Pre Tax Income Margin	10.16%	11.71%	10.06%	10.78%	10.79%	8.87%	13.57%	15.40%	14.45%	16.60%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.59	0.00	0.00	5.17	0.00	4.68	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	3.85	0.00	0.00	4.13	0.00	3.54	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	6.10	0.00	0.00	4.85	0.00	4.43	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	3.36	0.00	0.00	3.81	0.00	3.29	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	11.51%	30.49%	34.01%	39.28%	45.06%	15.79%	34.50%	16.98%	36.24%	30.32%
Augmented Payout Ratio	55.88%	52.43%	42.65%	43.09%	47.72%	80.77%	46.38%	23.78%	75.05%	47.62%

This table displays calculated financial ratios and metrics derived from W. R. Berkley's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.38%	18.25%	0.51%	19.22%	11.24%	5.66%	12.50%	10.62%	12.20%	13.85%	8.92%
EBITDA Growth	-18.72%	27.49%	-49.04%	93.20%	41.10%	-2.30%	27.86%	-6.81%	11.09%	49.81%	7.20%
EBIT Growth	-13.85%	34.91%	-48.65%	105.42%	46.70%	4.76%	52.65%	6.67%	12.98%	45.31%	-6.18%
NOPAT Growth	-13.78%	29.79%	-50.13%	98.21%	44.67%	4.45%	49.47%	4.54%	9.56%	44.21%	-5.58%
Net Income Growth	-13.78%	29.79%	-50.13%	98.21%	44.67%	4.45%	49.47%	4.54%	9.56%	44.21%	-5.58%
EPS Growth	-11.83%	29.79%	-50.00%	98.21%	44.67%	4.45%	54.72%	4.54%	10.98%	-1.94%	-4.59%
Operating Cash Flow Growth	-7.35%	20.57%	-6.77%	34.24%	40.31%	-12.22%	67.57%	24.35%	15.20%	16.04%	-0.32%
Free Cash Flow Firm Growth	272.18%	218.98%	-48.84%	-103.65%	-123.25%	-139.47%	-239.85%	-4,410.90%	-419.91%	-21.47%	175.06%
Invested Capital Growth	-7.22%	-3.84%	0.16%	3.91%	6.01%	7.30%	8.50%	9.04%	15.46%	9.14%	1.16%
Revenue Q/Q Growth	8.42%	11.91%	-5.04%	3.49%	1.16%	6.29%	1.10%	1.76%	2.61%	7.86%	-3.28%
EBITDA Q/Q Growth	25.47%	65.47%	-20.98%	17.77%	-8.36%	14.58%	3.40%	-14.17%	9.24%	54.51%	-26.00%
EBIT Q/Q Growth	28.62%	67.13%	-21.39%	21.57%	-8.14%	19.35%	14.54%	-15.05%	-2.71%	53.50%	-26.05%
NOPAT Q/Q Growth	28.42%	65.74%	-22.58%	20.29%	-6.27%	19.65%	10.80%	-15.87%	-1.77%	57.49%	-27.46%
Net Income Q/Q Growth	28.42%	65.74%	-22.58%	20.29%	-6.27%	19.65%	10.80%	-15.87%	-1.77%	57.49%	-27.46%
EPS Q/Q Growth	28.13%	65.74%	-26.90%	20.29%	-6.27%	19.65%	5.81%	-15.87%	-1.09%	67.03%	-31.58%
Operating Cash Flow Q/Q Growth	45.40%	3.60%	-44.01%	59.15%	51.97%	-35.19%	6.90%	18.10%	40.78%	-34.72%	-8.17%
Free Cash Flow Firm Q/Q Growth	206.17%	-19.21%	-63.40%	-104.03%	-1,851.61%	-37.15%	-29.68%	-29.95%	-124.94%	67.96%	180.14%
Invested Capital Q/Q Growth	-1.75%	4.26%	2.05%	-0.59%	0.23%	5.52%	3.20%	-0.10%	6.14%	-0.25%	-4.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	10.83%	16.01%	13.33%	15.17%	13.74%	14.81%	15.15%	12.78%	13.60%	19.49%	14.91%
EBIT Margin	10.51%	15.69%	12.99%	15.26%	13.86%	15.56%	17.63%	14.72%	13.95%	19.86%	15.18%
Profit (Net Income) Margin	8.46%	12.53%	10.22%	11.87%	11.00%	12.38%	13.57%	11.22%	10.74%	15.69%	11.76%
Tax Burden Percent	80.51%	79.84%	78.64%	77.81%	79.40%	79.60%	77.00%	76.26%	77.00%	79.00%	77.49%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	19.49%	20.16%	21.36%	22.19%	20.60%	20.40%	23.00%	23.74%	23.00%	21.00%	22.51%
Return on Invested Capital (ROIC)	9.45%	14.28%	11.66%	14.49%	13.88%	15.11%	16.61%	14.13%	13.47%	19.85%	15.32%
ROIC Less NNEP Spread (ROIC-NNEP)	9.45%	14.28%	11.66%	14.49%	13.88%	15.11%	16.61%	14.13%	13.47%	19.85%	15.32%
Return on Net Nonoperating Assets (RNNOA)	4.43%	6.55%	4.83%	6.12%	5.93%	6.02%	6.38%	5.45%	4.97%	7.10%	4.28%
Return on Equity (ROE)	13.88%	20.83%	16.49%	20.60%	19.80%	21.13%	22.99%	19.58%	18.44%	26.95%	19.60%
Cash Return on Invested Capital (CROIC)	21.04%	18.05%	10.94%	9.38%	8.57%	6.86%	6.82%	6.53%	0.65%	7.54%	15.02%
Operating Return on Assets (OROA)	3.48%	5.31%	4.37%	5.24%	4.79%	5.32%	6.11%	5.08%	4.81%	6.97%	5.34%
Return on Assets (ROA)	2.80%	4.24%	3.43%	4.07%	3.81%	4.23%	4.70%	3.88%	3.71%	5.50%	4.14%
Return on Common Equity (ROCE)	13.84%	20.77%	16.44%	20.53%	19.75%	21.08%	22.94%	19.54%	18.41%	26.91%	19.57%
Return on Equity Simple (ROE_SIMPLE)	20.44%	0.00%	15.66%	18.35%	19.77%	0.00%	19.66%	19.89%	18.73%	0.00%	19.41%
Net Operating Profit after Tax (NOPAT)	230	382	296	356	333	399	442	372	365	575	417
NOPAT Margin	8.46%	12.53%	10.22%	11.87%	11.00%	12.38%	13.57%	11.22%	10.74%	15.69%	11.76%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	89.49%	84.31%	87.01%	84.74%	86.14%	84.44%	82.37%	85.28%	86.05%	80.14%	84.82%
Earnings before Interest and Taxes (EBIT)	286	478	376	457	420	501	574	488	474	728	539
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	295	488	386	454	416	477	493	423	463	715	529
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.72	1.79	1.52	1.45	1.53	1.58	1.93	1.72	2.56	2.66	3.03
Price to Tangible Book Value (P/TBV)	1.77	1.85	1.56	1.49	1.57	1.62	1.97	1.76	2.62	2.72	3.09
Price to Revenue (P/Rev)	1.02	1.08	0.94	0.86	0.88	0.97	1.20	1.04	1.64	1.64	1.94
Price to Earnings (P/E)	8.44	8.77	9.73	7.94	7.75	8.54	9.80	8.67	13.69	12.70	15.59
Dividend Yield	0.91%	1.30%	2.25%	2.37%	2.30%	2.81%	0.76%	1.81%	2.16%	2.39%	1.97%
Earnings Yield	11.84%	11.41%	10.27%	12.60%	12.91%	11.72%	10.20%	11.54%	7.31%	7.87%	6.42%
Enterprise Value to Invested Capital (EV/IC)	1.37	1.41	1.24	1.13	1.21	1.29	1.57	1.38	2.03	2.06	2.52
Enterprise Value to Revenue (EV/Rev)	1.18	1.21	1.09	0.95	0.98	1.09	1.33	1.14	1.73	1.70	1.95
Enterprise Value to EBITDA (EV/EBITDA)	7.58	7.61	8.67	6.81	6.76	7.66	9.06	8.10	12.32	11.07	12.73
Enterprise Value to EBIT (EV/EBIT)	7.93	7.86	8.93	6.91	6.81	7.57	8.54	7.40	11.22	10.24	12.16
Enterprise Value to NOPAT (EV/NOPAT)	9.76	9.76	11.19	8.74	8.62	9.60	10.90	9.48	14.49	13.21	15.67
Enterprise Value to Operating Cash Flow (EV/OCF)	5.20	5.26	4.80	4.07	3.89	4.53	5.16	4.31	6.41	6.30	7.38
Enterprise Value to Free Cash Flow (EV/FCFF)	6.28	7.65	11.36	12.32	14.49	19.44	23.94	22.03	335.07	28.53	16.88
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.45	0.42	0.41	0.41	0.41	0.38	0.36	0.36	0.34	0.34	0.21
Long-Term Debt to Equity	0.45	0.42	0.41	0.41	0.41	0.38	0.36	0.36	0.34	0.34	0.21
Financial Leverage	0.47	0.46	0.41	0.42	0.43	0.40	0.38	0.39	0.37	0.36	0.28
Leverage Ratio	4.96	4.91	4.80	5.06	5.20	4.99	4.89	5.05	4.98	4.90	4.74
Compound Leverage Factor	4.96	4.91	4.80	5.06	5.20	4.99	4.89	5.05	4.98	4.90	4.74
Debt to Total Capital	30.86%	29.54%	28.94%	29.10%	29.05%	27.53%	26.68%	26.71%	25.16%	25.26%	17.03%
Short-Term Debt to Total Capital	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	30.85%	29.54%	28.94%	29.10%	29.05%	27.53%	26.68%	26.71%	25.16%	25.26%	17.03%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.26%	0.21%	0.22%	0.22%	0.15%	0.13%	0.13%	0.12%	0.12%	0.11%	0.11%
Common Equity to Total Capital	68.88%	70.26%	70.84%	70.68%	70.81%	72.34%	73.19%	73.17%	74.72%	74.63%	82.85%
Debt to EBITDA	1.70	1.60	2.02	1.75	1.63	1.64	1.54	1.57	1.53	1.36	0.86
Net Debt to EBITDA	1.03	0.78	1.14	0.62	0.68	0.85	0.91	0.69	0.68	0.41	0.05
Long-Term Debt to EBITDA	1.70	1.60	2.02	1.75	1.63	1.64	1.54	1.57	1.53	1.36	0.86
Debt to NOPAT	2.19	2.05	2.61	2.24	2.08	2.05	1.85	1.84	1.80	1.62	1.06
Net Debt to NOPAT	1.32	1.00	1.47	0.80	0.87	1.07	1.09	0.81	0.80	0.49	0.07
Long-Term Debt to NOPAT	2.19	2.05	2.61	2.24	2.08	2.05	1.85	1.84	1.80	1.62	1.06
Noncontrolling Interest Sharing Ratio	0.30%	0.26%	0.32%	0.32%	0.29%	0.24%	0.24%	0.23%	0.18%	0.16%	0.16%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	947	765	280	-11	-220	-302	-392	-509	-1,145	-367	294
Operating Cash Flow to CapEx	5,797.09%	4,567.02%	3,861.63%	4,995.39%	6,564.84%	6,373.38%	1,373.40%	3,651.97%	9,398.35%	5,805.44%	4,591.18%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.33	0.34	0.34	0.34	0.35	0.34	0.35	0.35	0.35	0.35	0.35
Fixed Asset Turnover	25.64	26.49	26.65	27.89	28.59	28.57	28.17	28.56	29.26	30.13	29.37
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	9,213	9,605	9,802	9,744	9,767	10,306	10,636	10,625	11,277	11,248	10,759
Invested Capital Turnover	1.12	1.14	1.14	1.22	1.26	1.22	1.22	1.26	1.25	1.27	1.30
Increase / (Decrease) in Invested Capital	-717	-383	16	367	554	701	834	881	1,510	942	123
Enterprise Value (EV)	12,655	13,517	12,172	11,049	11,787	13,279	16,675	14,664	22,866	23,179	27,111
Market Capitalization	10,919	12,109	10,557	10,015	10,582	11,791	14,993	13,393	21,589	22,300	26,986
Book Value per Share	$23.92	$25.42	$26.36	$26.41	$26.85	$28.91	$30.45	$30.41	$22.14	$22.03	$23.51
Tangible Book Value per Share	$23.28	$24.72	$25.65	$25.74	$26.18	$28.23	$29.77	$29.69	$21.66	$21.55	$23.02
Total Capital	9,213	9,605	9,802	9,744	9,767	10,306	10,636	10,625	11,277	11,248	10,759
Total Debt	2,843	2,837	2,837	2,836	2,837	2,837	2,837	2,838	2,837	2,841	1,833
Total Long-Term Debt	2,842	2,837	2,837	2,836	2,837	2,837	2,837	2,838	2,837	2,841	1,833
Net Debt	1,713	1,388	1,594	1,012	1,191	1,474	1,668	1,258	1,264	866	113
Capital Expenditures (CapEx)	13	17	12	14	16	11	54	24	13	14	16
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	2,843	2,837	2,837	2,836	2,837	2,837	2,837	2,838	2,837	2,841	1,833
Total Depreciation and Amortization (D&A)	8.80	9.84	9.74	-2.84	-3.61	-24	-81	-64	-12	-14	-9.79
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.83	$1.45	$1.07	$1.32	$1.24	$1.55	$1.65	$0.93	$0.92	$1.52	$1.05
Adjusted Weighted Average Basic Shares Outstanding	265.48M	263.45M	260.77M	257.52M	257.87M	256.55M	255.66M	380.55M	381.07M	379.23M	379.36M
Adjusted Diluted Earnings per Share	$0.82	$1.45	$1.06	$1.30	$1.23	$1.55	$1.64	$0.92	$0.91	$1.52	$1.04
Adjusted Weighted Average Diluted Shares Outstanding	265.48M	263.45M	260.77M	257.52M	257.87M	256.55M	255.66M	380.55M	381.07M	379.23M	379.36M
Adjusted Basic & Diluted Earnings per Share	$0.00	$1.45	$0.00	$0.00	$0.00	$1.55	$0.00	$0.00	$0.00	$1.52	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	265.48M	263.45M	260.77M	257.52M	257.87M	256.55M	255.66M	380.55M	381.07M	379.23M	379.36M
Normalized Net Operating Profit after Tax (NOPAT)	230	382	296	356	333	399	442	372	365	575	417
Normalized NOPAT Margin	8.46%	12.53%	10.22%	11.87%	11.00%	12.38%	13.57%	11.22%	10.74%	15.69%	11.76%
Pre Tax Income Margin	10.51%	15.69%	12.99%	15.26%	13.86%	15.56%	17.63%	14.72%	13.95%	19.86%	15.18%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.43%	16.98%	34.09%	31.58%	17.56%	36.24%	24.25%	32.35%	39.67%	30.32%	30.87%
Augmented Payout Ratio	29.94%	23.78%	55.17%	72.86%	55.46%	75.05%	50.52%	53.91%	61.39%	47.62%	51.27%

Frequently Asked Questions About W. R. Berkley's Financials

When does W. R. Berkley's financial year end?

According to the most recent income statement we have on file, W. R. Berkley's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has W. R. Berkley's net income changed over the last 9 years?

W. R. Berkley's net income appears to be on an upward trend, with a most recent value of $1.75 billion in 2024, rising from $504.11 million in 2015. The previous period was $1.38 billion in 2023. Check out W. R. Berkley's forecast to explore projected trends and price targets.

How has W. R. Berkley revenue changed over the last 9 years?

Over the last 9 years, W. R. Berkley's total revenue changed from $7.21 billion in 2015 to $13.64 billion in 2024, a change of 89.3%.

How much debt does W. R. Berkley have?

W. R. Berkley's total liabilities were at $32.16 billion at the end of 2024, a 8.2% increase from 2023, and a 75.9% increase since 2015.

How much cash does W. R. Berkley have?

In the past 9 years, W. R. Berkley's cash and equivalents has ranged from $795.29 million in 2015 to $2.37 billion in 2020, and is currently $1.97 billion as of their latest financial filing in 2024.

How has W. R. Berkley's book value per share changed over the last 9 years?

Over the last 9 years, W. R. Berkley's book value per share changed from 40.94 in 2015 to 22.03 in 2024, a change of -46.2%.

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This page (NYSE:WRB) was last updated on 6/14/2025 by MarketBeat.com Staff

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W. R. Berkley (WRB) Financials

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W. R. Berkley (WRB) Financials

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