WRB financial statements

The full income statement, balance sheet, and cash-flow statement for W.R. Berkley Corporation (WRB), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’21
Revenue	14.7B YoY+7.8%	13.6B YoY+12.3%	12.1B YoY+28.4%	9.46B YoY+16.7%
Interest expense	127M YoY-0.0%	127M YoY-0.4%	127M YoY-13.4%	147M YoY-2.2%
Equity-method income	27.6M YoY+340.0%	-11.5M	—	220M YoY+305.5%
Pre-tax income	2.28B YoY+0.7%	2.26B YoY+29.1%	1.75B YoY+36.8%	1.28B YoY+82.0%
Income tax	496M YoY-2.8%	510M YoY+37.6%	371M YoY+47.1%	252M YoY+46.6%
	1.78B YoY+1.3%	1.76B YoY+27.1%	1.38B YoY+35.1%	1.02B YoY+92.7%
Net income to non-controlling interest	5.38M YoY+449.5%	-1.54M YoY-161.8%	2.49M YoY-70.8%	8.53M YoY+268.3%
	$4.45 YoY+2.1%	$4.36	—	$3.66 YoY+95.7%
EPS (basic)	$4.48 YoY+2.1%	$4.39	—	$3.69 YoY+95.2%
	397M YoY-0.7%	400M	—	277K YoY-1.1%
	400M YoY-0.8%	403M	—	280K YoY-1.2%
Dividends per share	$1.85 YoY+32.1%	$1.40	—	$1.34 YoY+332.3%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’21
Cash & equivalents	2.54B YoY+28.6%	1.97B YoY+44.9%	1.36B YoY-13.1%	1.57B YoY-33.9%
	43.9B YoY+8.3%	40.6B YoY+9.0%	37.2B YoY+15.9%	32.1B YoY+12.2%
Property, plant & equipment	596M YoY+24.6%	479M YoY+12.1%	427M YoY+1.6%	420M YoY+3.4%
Operating lease right-of-use	221M YoY+23.0%	180M YoY+2.0%	176M YoY+2.5%	172M YoY+4.7%
Goodwill	184M YoY+0.0%	184M YoY+5.6%	175M YoY+2.9%	170M YoY+0.0%
Intangible assets	86.0M YoY-11.3%	97.0M	—	—
Deferred tax assets	141M YoY-35.7%	220M YoY-28.9%	310M YoY+439.2%	57.4M YoY+97.6%
	34.2B YoY+6.4%	32.2B YoY+8.2%	29.7B YoY+17.0%	25.4B YoY+14.1%
Deferred tax liabilities	39.0M YoY-40.1%	65.2M YoY+52.7%	42.7M YoY+144.2%	17.5M YoY-58.6%
	9.70B YoY+15.6%	8.40B YoY+12.6%	7.46B YoY+12.1%	6.65B YoY+5.4%
Preferred stock	0.00	0.00	0.00	0.00
Common stock	159M YoY+0.0%	159M YoY+0.0%	159M YoY+50.0%	106M YoY+50.0%
Additional paid-in capital	988M YoY+0.3%	985M YoY+2.1%	965M YoY-1.7%	981M YoY-3.1%
Retained earnings	13.3B YoY+8.8%	12.3B YoY+11.1%	11.0B YoY+22.5%	9.02B YoY+8.0%
Treasury stock	4.34B YoY+6.4%	4.08B YoY+7.8%	3.78B YoY+19.5%	3.17B YoY+3.6%
Accumulated other comprehensive income	-451M YoY+51.7%	-934M YoY-0.9%	-926M YoY-228.4%	-282M YoY-353.5%
Non-controlling interest	11.1M YoY-10.2%	12.3M YoY-10.7%	13.8M YoY-6.2%	14.7M YoY-1.8%
Total equity incl. non-controlling	9.71B YoY+15.5%	8.41B YoY+12.6%	7.47B YoY+12.0%	6.67B YoY+5.4%
Total liabilities & equity	43.9B YoY+8.3%	40.6B YoY+9.0%	37.2B YoY+15.9%	32.1B YoY+12.2%
	377M YoY-0.8%	380M YoY-1.2%	385M YoY+45.1%	265M YoY-0.6%
	377M YoY-0.8%	380M YoY-1.2%	385M YoY-3.3%	398M YoY+49.1%
	374M YoY-1.2%	379M YoY+47.8%	257M YoY-3.3%	265M YoY-0.3%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’21
	3.58B YoY-2.6%	3.68B YoY+25.6%	2.93B YoY+34.1%	2.18B YoY+35.1%
Depreciation & amortization	-48.1M YoY+71.8%	-171M YoY-718.0%	-20.9M YoY-116.1%	130M YoY-4.0%
Share-based compensation	54.5M YoY+0.3%	54.4M YoY+6.6%	51.0M YoY+9.3%	46.7M YoY-6.0%
Deferred income taxes	-14.5M YoY-115.0%	96.4M	—	12.8M YoY+192.3%
	-2.03B YoY+7.1%	-2.18B YoY-11.3%	-1.96B YoY+34.4%	-2.99B YoY-2597.3%
Acquisitions	0.00	0.00 YoY-100.0%	11.6M	0.00
Sales/maturities of investments	5.31B YoY+8.6%	4.89B YoY+39.5%	3.51B YoY-42.2%	6.07B YoY+57.0%
	-1.03B YoY-20.4%	-852M YoY+19.8%	-1.06B YoY-18321.5%	5.83M YoY+101.5%
Long-term debt issued	0.00 YoY-100.0%	3.10M YoY+216.8%	980K YoY-99.9%	1.03B YoY+39.4%
Long-term debt repaid	0.00	0.00 YoY-100.0%	974K	0.00
Common stock issued	0.00	0.00	0.00	0.00
Common stock repurchased	270M YoY-11.0%	304M YoY-43.5%	537M YoY+338.8%	122M YoY-64.7%
Dividends paid	700M YoY+31.6%	532M YoY+6.1%	501M YoY+41.0%	356M YoY+322.8%
Other financing activities	-53.9M YoY-169.7%	-20.0M YoY+12.7%	-22.9M YoY+49.3%	-45.2M YoY+19.7%
FX effect on cash	38.4M YoY+228.5%	-29.8M YoY-429.0%	9.07M YoY+316.2%	-4.20M YoY-141.5%
Net change in cash	565M YoY-7.6%	612M YoY+809.9%	-86.2M YoY+89.3%	-804M YoY-159.6%
Interest paid	126M YoY-8.7%	138M	—	141M YoY-9.0%
Income taxes paid	407M YoY-0.7%	410M	—	244M YoY+136.9%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’21
Market cap	26.3B YoY+18.3%	22.2B YoY+82.5%	12.2B YoY+25.2%	9.71B YoY+23.6%
P/E	14.8× YoY+16.8%	12.6× YoY+34.4%	9.4× YoY-1.0%	9.5× YoY-35.8%
P/S	1.8× YoY+9.7%	1.6× YoY+43.6%	1.1× YoY+10.3%	1.0× YoY+5.9%
P/B	2.7× YoY+2.4%	2.6× YoY+50.4%	1.8× YoY+20.4%	1.5× YoY+17.3%
P/FCF	24.2× YoY+18.3%	20.5× YoY+82.5%	11.2× YoY+25.2%	9.0× YoY+23.6%
	6.8% YoY-14.4%	7.9% YoY-25.6%	10.6% YoY+1.0%	10.5% YoY+55.8%
	4.1% YoY-15.5%	4.9% YoY-45.2%	8.9% YoY-20.1%	11.2% YoY-19.1%
	2.6% YoY+10.3%	2.4%	—	3.7% YoY+248.5%
Source filing	10-K	10-K	10-K	10-K

About this data

Source: WRB's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all WRB filings on SEC EDGAR → Not investment advice.