WRB · XBRL financial data
Berkley W R financial statements, every fiscal year
The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.
How these numbers work
- Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
- Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
- * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
- 0 means a filing states zero; a dash (—) means no filing states that number.
- “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
- Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
- Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
- Shares outstanding come from each filing's cover page, as of the date printed there.
- Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.
Income statement
CSVFiscal years (WRB's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Revenue | 8,099 | 9,455 | 11,166 | 12,143 | 13,639 | 14,708 |
| Interest expense | 151 | 147 | 130 | 127 | 127 | 127 |
| Income tax expense (benefit) | 172 | 252 | 335 | 371 | 510 | 496 |
| Net income (loss) | 531 | 1,022 | 1,381 | 1,381 | 1,756 | 1,779 |
| Earnings per share, basic‡ USD per share | 1.89 | 3.69 | 4.99 | 5.10 | 4.39 | 4.48 |
| Earnings per share, diluted‡ USD per share | 1.87 | 3.65 | 4.94 | 5.05 | 4.36 | 4.45 |
| Weighted average shares, basic‡ millions of shares | 0 | 0 | 0 | 0 | 0 | 397 |
| Weighted average shares, diluted‡ millions of shares | 0 | 0 | 0 | 0 | 0 | 400 |
- ‡ Per-share figures and share counts are adjusted for the 1.5-for-1 stock split (March 2022); filings made before it reported them unadjusted.
Balance sheet
CSVFiscal years (WRB's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 2,372 | 1,569 | 1,449 | 1,363 | 1,975 | 2,540 |
| Property and equipment, net | 406 | 420 | 423 | 427 | 479 | 596 |
| Right-of-use asset | 164 | 172 | 169 | 176 | 180 | 221 |
| Goodwill | 170 | 170 | 186 | 175 | 184 | 184 |
| Total assets | 28,607 | 32,086 | 33,861 | 37,202 | 40,567 | 44,071 |
| Total liabilities | 22,281 | 25,419 | 27,093 | 29,733 | 32,160 | 34,359 |
| Retained earnings | 8,348 | 9,015 | 10,161 | 11,041 | 12,265 | 13,344 |
| Total stockholders' equity | 6,311 | 6,653 | 6,748 | 7,455 | 8,395 | 9,701 |
| Total liabilities and equity | 28,607 | 32,086 | 33,861 | 37,202 | 40,567 | 44,071 |
| Common shares outstanding (cover page)‡ millions of shares | 266 | 265 | 263 | 257 | 379 | 374 |
- ‡ Per-share figures and share counts are adjusted for the 1.5-for-1 stock split (March 2022); filings made before it reported them unadjusted.
Cash flows
CSVFiscal years (WRB's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Net income (loss) | 531 | 1,022 | 1,381 | 1,381 | 1,756 | 1,779 |
| Stock-based compensation | 50 | 47 | 49 | 51 | 54 | 55 |
| Net cash from operating activities | 1,617 | 2,184 | 2,569 | 2,929 | 3,678 | 3,583 |
| Net cash from investing activities | 120 | (2,989) | (1,891) | (1,962) | (2,184) | (2,029) |
| Share repurchases | 346 | 122 | 94 | 537 | 304 | 270 |
| Dividends paid | 84 | 356 | 235 | 501 | 532 | 700 |
| Proceeds from long-term debt | 742 | 1,034 | 0 | 1 | 3 | 0 |
| Repayments of long-term debt | — | — | 3 | 1 | — | — |
| Net cash from financing activities | (398) | 6 | (772) | (1,062) | (852) | (1,026) |
| Net change in cash | 1,349 | (804) | (119) | (86) | 612 | 565 |
Compare with peers
SIC 6331 and related industry codes, similar size. Each row is the latest quarter reported.
How peers are chosen
- SIC 6331 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
- Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
- * marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
| Company | Cash ($M) | Revenue, quarter ($M) | Operating cash flow, quarter ($M) | Shares outstanding | Quarter |
|---|---|---|---|---|---|
| Berkley W R | 2,113 | 3,739 | 731* | 371.5M | 10-QSep 30, 2026 |
| Cincinnati Financial | 1,239 | 3,047 | 791* | 153.5M | 10-QSep 30, 2026 |
| Markel Group | 3,602 | 4,158 | 946* | 12.2M | 10-QSep 30, 2026 |
| Loews | 505 | 843 | 954* | 202.2M | 10-QSep 30, 2026 |
| Arch Capital Group | 1,109 | 4,668 | 1,322* | 341.2M | 10-QJun 30, 2026 |
| Everest Group | 987 | 3,713 | 667* | 37.0M | 10-QSep 30, 2026 |
| Hartford Insurance Group | 123 | 111 | 2,951* | 267.4M | 10-QSep 30, 2026 |
| Renaissancere Holdings | 1,098 | 1,691 | 795* | 40.4M | 10-QSep 30, 2026 |
| American International Group | 1,565 | 7,085 | 1,716* | 522.9M | 10-QJun 30, 2026 |
Not investment advice. Not affiliated with the U.S. SEC.