WRB · NYQ · Financial Services
W. R. Berkley Corporation
Also onShortfallConsensus DriftCrosscheck
Implied value per share
USD 133.83
Market price
USD 75.16
Implied upside
+78.1%
10-year forecast · Excess returns over book equity · Base case · Price 2026-11-02 · Accounts to 2025-12-31
NoteA financial, valued on excess returns over book equity.
Excess Returns
- Return on equity
- 21.2%
- Payout
- 36%
- Cost of equity
- 6.92%
- Return on equity by the final year
- 20.0%
| Line | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 | FY32 | FY33 | FY34 | FY35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Opening book equity | USD 9.7bn | USD 10.9bn | USD 12.1bn | USD 13.4bn | USD 14.6bn | USD 15.8bn | USD 16.8bn | USD 17.8bn | USD 18.7bn | USD 19.3bn |
| Return on equity | 21.1% | 21.0% | 20.8% | 20.7% | 20.6% | 20.5% | 20.4% | 20.2% | 20.1% | 20.0% |
| Excess return | USD 1.4bn | USD 1.5bn | USD 1.7bn | USD 1.8bn | USD 2.0bn | USD 2.1bn | USD 2.3bn | USD 2.4bn | USD 2.5bn | USD 2.5bn |
| Present value | USD 1.3bn | USD 1.3bn | USD 1.4bn | USD 1.4bn | USD 1.4bn | USD 1.4bn | USD 1.4bn | USD 1.4bn | USD 1.3bn | USD 1.3bn |
| Book equity | USD 9.7bn |
| Present value of excess returns | USD 13.7bn |
| Terminal, growing at 2.50% | USD 30.1bn |
| Equity value | USD 53.5bn |
| Per share | USD 133.83 |
Discount Rate
| Risk-free rate | 4.89% | US 10-year Treasury (^TNX), 2026-11-02 |
| Equity risk premium | 4.23% | Damodaran, January 2026 |
| Beta | 0.478 | Reported 0.221, pulled toward 1.0 (Blume) |
| Cost of equity | 6.92% | Risk-free + beta x equity risk premium |
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Yahoo Finance and RBA data. General information, not advice. Methodology.