W. R. Berkley Corporation (WRB) Income Statement
WRB 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsWRB revenue and net income
Where WRB's revenue goes
2025Each bar shows an amount and its share of revenue. WRB kept 12.1% of revenue as net income.
WRB profit margins
WRB growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.8% | +9.6% | +12.7% | +7.4% |
| Gross profit | −6.7% | +6.1% | +16.7% | +8.5% |
| Operating income | +3.1% | +10.7% | +27.1% | +12.3% |
| Net income | +1.3% | +8.8% | +27.4% | +13.5% |
| EPS (diluted) | +4.1% | +13.7% | +32.8% | +15.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WRB quarterly EPS vs estimates
W. R. Berkley beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 19, 2026 (estimate $1.14).
WRB income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.71B | $13.64B | $12.14B | $11.17B | $9.46B | $8.10B | $7.90B | $7.69B | $8.01B | $7.65B |
| Cost of revenue | $11.79B | $10.52B | $9.42B | $8.73B | $7.43B | $6.75B | $6.42B | $6.31B | $6.36B | $6.21B |
| Gross profit | $2.91B | $3.12B | $2.72B | $2.44B | $2.02B | $1.35B | $1.48B | $1.38B | $1.65B | $1.44B |
| Research & development | — | — | — | — | — | — | — | — | $0 | $0 |
| Sales, general & admin | $54.3M | $45.7M | $44.3M | $1.77B | $130.1M | $130.0M | $145.4M | $118.4M | $129.8M | $138.9M |
| Total operating expenses | $579.4M | $857.1M | $970.0M | $718.3M | $739.9M | $643.0M | $625.2M | $569.3M | $875.2M | $544.9M |
| Operating income | $2.33B | $2.26B | $1.75B | $1.72B | $1.28B | $704.8M | $852.9M | $812.1M | $772.8M | $896.4M |
| Interest income | $126.9M | $115.5M | $89.3M | $130.4M | $147.2M | $150.5M | $122.7M | $130.1M | $162.6M | $129.0M |
| Interest expense | $126.9M | $126.9M | $127.5M | $130.4M | $147.2M | $150.5M | $153.4M | $157.2M | $147.3M | $140.9M |
| Income before taxes | $2.28B | $2.26B | $1.75B | $1.72B | $1.28B | $704.8M | $852.9M | $812.1M | $772.8M | $896.4M |
| Income taxes | $495.8M | $509.9M | $370.6M | $334.7M | $251.9M | $171.8M | $168.9M | $163.0M | $219.4M | $293.0M |
| Net income | $1.78B | $1.76B | $1.38B | $1.38B | $1.02B | $530.7M | $681.9M | $640.7M | $549.1M | $601.9M |
| EBITDA | $2.37B | $2.22B | $1.86B | $1.91B | $1.56B | $990.4M | $1.12B | $1.10B | $1.03B | $1.12B |
| EPS (diluted) | $4.29 | $4.12 | $3.30 | $2.92 | $2.27 | $1.04 | $1.35 | $1.20 | $0.69 | $1.00 |
| Gross margin | 19.8% | 22.9% | 22.4% | 21.8% | 21.4% | 16.6% | 18.7% | 18.0% | 20.6% | 18.8% |
| Operating margin | 15.9% | 16.6% | 14.4% | 15.4% | 13.6% | 8.7% | 10.8% | 10.6% | 9.6% | 11.7% |
| Net margin | 12.1% | 12.9% | 11.4% | 12.4% | 10.8% | 6.6% | 8.6% | 8.3% | 6.9% | 7.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.83B | $3.69B | $3.72B | $3.77B | $3.67B | $3.55B | $3.67B | $3.40B | $3.31B | $3.26B | $3.22B | $3.03B |
| Cost of revenue | $1.96B | $1.94B | $2.95B | $3.08B | $2.99B | $2.76B | $2.74B | $2.68B | $2.62B | $2.48B | $2.42B | $2.40B |
| Gross profit | $4.87B | $1.75B | $765.5M | $687.1M | $676.1M | $785.1M | $926.0M | $717.3M | $698.4M | $780.0M | $801.3M | $626.2M |
| Sales, general & admin | — | — | — | $13.8M | $13.2M | $12.8M | $12.1M | $11.2M | — | — | — | $31.3M |
| Total operating expenses | $4.30B | $1.14B | $159.0M | $19.8M | $154.2M | $246.5M | $197.7M | $242.8M | $210.7M | $206.0M | $300.1M | $206.3M |
| Operating income | $575.2M | $616.1M | $606.5M | $667.3M | $521.9M | $538.6M | $728.3M | $474.4M | $487.7M | $574.1M | $501.2M | $419.9M |
| Interest income | — | — | $31.6M | $9.8M | $31.8M | $31.1M | $22.9M | $57.3M | — | — | — | $31.9M |
| Interest expense | $31.7M | $31.7M | $31.6M | $31.8M | $31.8M | $31.7M | $31.8M | $31.7M | $31.7M | $31.7M | $31.9M | $31.9M |
| Income before taxes | $575.2M | $616.1M | $572.0M | $648.1M | $521.9M | $538.6M | $728.3M | $474.4M | $487.7M | $574.1M | $501.2M | $419.9M |
| Income taxes | $122.9M | $100.5M | $117.2M | $136.1M | $121.2M | $121.3M | $153.0M | $109.1M | $115.8M | $132.0M | $102.2M | $86.5M |
| Net income | $452.3M | $515.2M | $449.5M | $511.0M | $401.3M | $417.6M | $576.1M | $365.6M | $371.9M | $442.5M | $397.3M | $333.6M |
| EBITDA | $584.8M | $632.3M | $601.6M | $670.8M | $539.7M | $560.5M | $746.4M | $494.2M | $455.1M | $525.0M | $508.9M | $448.2M |
| EPS (diluted) | $1.27 | $1.30 | $1.13 | $1.10 | $1.05 | $1.01 | $1.13 | $0.91 | $1.04 | $1.04 | $0.97 | $0.90 |
| Gross margin | 71.3% | 47.5% | 20.6% | 18.2% | 18.4% | 22.1% | 25.2% | 21.1% | 21.1% | 24.0% | 24.9% | 20.7% |
| Operating margin | 8.4% | 16.7% | 16.3% | 17.7% | 14.2% | 15.2% | 19.9% | 14.0% | 14.7% | 17.6% | 15.6% | 13.9% |
| Net margin | 6.6% | 14.0% | 12.1% | 13.6% | 10.9% | 11.8% | 15.7% | 10.8% | 11.2% | 13.6% | 12.3% | 11.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WRB's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WRB financial results
In fiscal year 2025 (ended December 31, 2025), W. R. Berkley reported revenue of $14.7 billion, up 7.8% from the year before. It had net income of $1.8 billion (up 1.3%), a net profit margin of 12.1%. Diluted earnings per share came to $4.29. Over five years revenue grew at an average rate of 12.7% a year.
See the WRB stock overview for the latest quote and news, or the WRB chart for price history and technical indicators.
WRB income statement FAQ
What is W. R. Berkley's annual revenue?
W. R. Berkley reported total revenue of $14.7 billion for fiscal year 2025, which ended on December 31, 2025. That was up 7.8% from $13.6 billion the previous year.
Is W. R. Berkley profitable?
Yes. W. R. Berkley reported net income of $1.8 billion in fiscal 2025, a net profit margin of 12.1%; its operating margin was 15.9%.
What is W. R. Berkley's gross margin?
W. R. Berkley's gross margin was 19.8% in fiscal 2025: for every $100 of revenue, W. R. Berkley kept $20 after the direct cost of its products and services.
How fast is W. R. Berkley growing?
Revenue grew 12.7% a year on average over the last five fiscal years, from $8.1 billion to $14.7 billion.
What are W. R. Berkley's earnings per share?
W. R. Berkley earned $4.29 per diluted share in fiscal 2025, compared with $4.12 a year earlier.
When will W. R. Berkley report its next earnings?
W. R. Berkley is expected to report results for the quarter ending September 30, 2026 on October 19, 2026 after the market closes.
When does W. R. Berkley's fiscal year end?
W. R. Berkley's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.