W. R. Berkley Corporation (WRB) Financial Statements

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W. R. Berkley financial statements at a glance

W. R. Berkley reported revenue of $14.64 billion for fiscal year 2025 (ended December 31, 2025), up 6.9% from fiscal year 2024. Net income was $1.78 billion, a net margin of 12.2%, and diluted earnings per share were $4.45.

At the end of fiscal year 2025 it had total assets of $44.07 billion, total liabilities of $34.36 billion and shareholders' equity of $9.70 billion, with cash and short-term investments of $27.56 billion and total debt of $2.84 billion.

Its operations brought in $3.58 billion of cash; capital spending was $169.99 million, leaving free cash flow of $3.41 billion.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

WRB logo

W. R. Berkley Corporation

WRBUnited States
Financial Services
USD (Local)

Income Statement

Annual • USD

Total Revenue
14.64B
Prev Year: 13.69B
YoY: +6.9%
Total Expenses
12.36B
Prev Year: 11.43B
YoY: +8.2%
Net Non Operating Interest Income Expense
-126.89M
Prev Year: -126.91M
YoY: +0.0%
Non-operating Interest Expense
126.89M
Prev Year: 126.91M
YoY: -0.0%
Other Operating Expenses
849.86M
Prev Year: 782.59M
YoY: +8.6%
Policy Acquisition Expenses
-
Prev Year: 1.22B
Pre-tax Income
2.28B
Prev Year: 2.26B
YoY: +0.7%
Provision for Income Taxes
495.76M
Prev Year: 509.92M
YoY: -2.8%
Net Income Common Stockholders
1.78B
Prev Year: 1.76B
YoY: +1.3%
Net Income
1.78B
Prev Year: 1.76B
YoY: +1.3%
Net Income Including Non-Controlling Interests
1.78B
Prev Year: 1.75B
YoY: +1.7%
Net Income from Continuing Operations
1.78B
Prev Year: 1.75B
YoY: +1.7%
Noncontrolling Interests
-5.38M
Prev Year: 1.54M
YoY: -449.5%
Diluted NI Available to Com Stockholders
1.78B
Prev Year: 1.76B
YoY: +1.3%
Basic EPS
4.48
Prev Year: 4.39
YoY: +2.1%
Diluted EPS
4.45
Prev Year: 4.36
YoY: +2.1%
Weighted Average Shares (basic)
396.97M
Prev Year: 399.73M
YoY: -0.7%
Weighted Average Shares (diluted)
399.86M
Prev Year: 403.22M
YoY: -0.8%
Net Income from Continuing and Discontinued Operation
1.78B
Prev Year: 1.76B
YoY: +1.3%
Normalized Income
1.78B
Prev Year: 1.76B
YoY: +1.3%
EBIT
2.41B
Prev Year: 2.39B
YoY: +0.7%
Reconciled Depreciation
-48.13M
Prev Year: -170.64M
YoY: +71.8%
Net Income from Continuing Operation Net Minority Interest
1.78B
Prev Year: 1.76B
YoY: +1.3%
Tax Rate for Calcs
0.217
Prev Year: 0
Total Unusual Items Excluding Goodwill
-
Interest Expense
126.89M
Prev Year: 126.91M
YoY: -0.0%
Net Interest Income
-126.89M
Other Income Expense
581.12M
Prev Year: 530.46M
YoY: +9.5%
Operating Revenue
14.64B
Loss Adjustment Expense
10.00B
Prev Year: 9.30B
YoY: +7.5%
Net Policyholder Benefits And Claims
10.00B
Prev Year: 9.30B
YoY: +7.5%
Values in USD

W. R. Berkley key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$14.6B$13.7B$12.1B$11.2B$9.5B
Operating income$2.4B$2.4B$1.9B$1.9B$1.4B
Net income$1.8B$1.8B$1.4B$1.4B$1.0B
Diluted EPS$4.45$4.36$3.37$3.29$2.44
Total assets$44.1B$40.6B$37.2B$33.9B$32.1B
Total liabilities$34.4B$32.2B$29.7B$27.1B$25.4B
Shareholders' equity$9.7B$8.4B$7.5B$6.7B$6.7B
Cash and short-term investments$27.6B––––
Total debt$2.8B$2.8B$2.8B$2.8B$3.3B
Operating cash flow$3.6B$3.7B$2.9B$2.6B$2.2B
Capital spending$170.0M$105.6M$53.1M$52.7M$66.6M
Free cash flow$3.4B$3.6B$2.9B$2.5B$2.1B

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was W. R. Berkley's revenue in fiscal year 2025?

$14.64 billion, up 6.9% from $13.69 billion in fiscal year 2024.

How much profit does W. R. Berkley make?

W. R. Berkley reported net income of $1.78 billion for fiscal year 2025 (12.2% of revenue); operating income was $2.41 billion.

How much cash and debt does W. R. Berkley have?

At the end of fiscal year 2025: cash and short-term investments of $27.56 billion and total debt of $2.84 billion.

What is W. R. Berkley's free cash flow?

$3.41 billion in fiscal year 2025 (operating cash flow of $3.58 billion minus capital spending of $169.99 million).

MoreW. R. Berkley stock overviewW. R. Berkley executive teamW. R. Berkley shareholdersW. R. Berkley revenue by segment
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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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