BERKLEY W R CORP · Property and casualty insurance

WRB

Moderate riskNext report: Around Jan 25, 2027 (est.)

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The short version

A high-quality, profitable business with steady sales.

Going well

Profitable every year for 10 years
Brings in more cash than it spends
Raised its dividend (2.5% yield)

Money moves

No insider buying or selling in the last 30 days
Institutions added 1% to their holdings in the quarter ending June 2026 (444 bought, 408 sold)
Held by Ray Dalio (Bridgewater)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$73.78+0.6% that day

Company value: $27.4B; Share price times all shares
Price vs profit (P/E): 15.1x; You pay about $15 for each $1 of yearly profit
Price vs sales: 1.8x; Company value is 1.8 times a year of sales
Dividend yield: 2.5%; Yearly dividend as a share of today's price
Cash vs value: 10%; Cash as a share of company value

From WRB's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$3.7B+1.2% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $14.9B, up 4.3% from the 12 months before. Over 5 years, sales grew about 13% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of WRB. Starting points are the company's recent numbers.

Sales growth+4% a yearRecently: +4.3% a yearProfit margin13%Last 12 months: 12.9%P/E at the end15xToday: 15.1x. Many steady companies trade at 12x to 25xShare count change0% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$18.1B

Profit in 5 years$2.4B

Price these guesses point to$95.20+29% vs $73.78 todayAbout +5.2% a year, before dividends

What today's price needs: with a 13% margin and a 15x P/E, sales could shrink about 1.2% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

4/4Strong

PassReturn on equity 15%+Earns a lot on the money owners have in the business.19.7%
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.12.1%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$3.6B

Revenue: $14.7B; +7.8% vs prior year
5-year growth: +12.7%/yr; revenue, per year
Free cash flow: $3.6B; 24.4% of revenue

From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. Not in this company's SEC data, so not scored: debt under half of equity, share count not growing. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Sep 30, 2026

Reported Oct 19After close4:12 pm ET

Revenue: $3.7B; -0.8% YoY
EPS: $1.14; vs $1.28

From the press release, checked against last year's SEC filing. Cash flow and share count update with the 10-Q.

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

0/ 100

This week: 1
Normal week: 3.4
vs normal: 0.3x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Steady+1.0%

Institutions added 1.0% to their holdings. 444 bought, 408 sold.

Shares held by institutions278.9M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+13.0%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

Total liabilities $35.8B

Shares outstandingLatest reported

371M

Why moderate risk

Share count growing 13% a year (dilution)

Earnings reports

Last 12

Next reportAround Jan 25, 2027 (est.)Estimated from the same quarter last year

Results filedOct 19
Results filedJul 20
Results filedApr 21
Results filedJan 26
Results filedOct 20, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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