W. R. Berkley Corporation

DB:WR1 Stock Report

Market Cap: €22.2b

W. R. Berkley Valuation

Is WR1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of WR1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: WR1 (€57.42) is trading below our estimate of fair value (€128.67)

Significantly Below Fair Value: WR1 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for WR1?

Key metric: As WR1 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for WR1. This is calculated by dividing WR1's market cap by their current earnings.
What is WR1's PE Ratio?
PE Ratio15x
EarningsUS$1.58b
Market CapUS$23.22b

Price to Earnings Ratio vs Peers

How does WR1's PE Ratio compare to its peers?

The above table shows the PE ratio for WR1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.7x
TLX Talanx
10.7x5.0%€20.2b
HNR1 Hannover Rück
13.2x5.7%€29.6b
MUV2 Münchener Rückversicherungs-Gesellschaft in München
11.2x2.9%€63.8b
ALV Allianz
11.9x5.9%€112.3b
WR1 W. R. Berkley
15x4.4%€23.2b

Price-To-Earnings vs Peers: WR1 is expensive based on its Price-To-Earnings Ratio (15x) compared to the peer average (11.7x).

Price to Earnings Ratio vs Industry

How does WR1's PE Ratio compare vs other companies in the European Insurance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
WR1 15.0xIndustry Avg. 11.7xNo. of Companies12PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: WR1 is expensive based on its Price-To-Earnings Ratio (15x) compared to the European Insurance industry average (11.7x).

Price to Earnings Ratio vs Fair Ratio

What is WR1's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

WR1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15x
Fair PE Ratio9.8x

Price-To-Earnings vs Fair Ratio: WR1 is expensive based on its Price-To-Earnings Ratio (15x) compared to the estimated Fair Price-To-Earnings Ratio (9.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst WR1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€57.42
€60.05
+4.6%
10.9%€72.11€46.49n/a14
Nov ’25€52.48
€58.01
+10.5%
10.4%€70.46€45.43n/a14
Oct ’25€50.52
€53.29
+5.5%
8.5%€61.19€44.10n/a14
Sep ’25€53.20
€55.10
+3.6%
8.7%€63.02€45.41n/a13
Aug ’25€50.66
€55.10
+8.8%
8.7%€63.02€45.41n/a13
Jul ’25€48.45
€55.21
+13.9%
9.1%€63.95€44.08n/a13
Jun ’25€48.60
€54.09
+11.3%
9.0%€60.90€44.12n/a13
May ’25€47.84
€54.45
+13.8%
9.0%€61.20€44.34n/a13
Apr ’25€54.23
€51.92
-4.3%
10.1%€58.37€39.94n/a13
Mar ’25€51.41
€51.92
+1.0%
10.1%€58.37€39.94n/a13
Feb ’25€50.23
€51.72
+3.0%
10.2%€58.41€39.97n/a13
Jan ’25€42.15
€46.24
+9.7%
9.0%€52.49€38.29n/a13
Dec ’24€44.07
€46.15
+4.7%
9.5%€52.95€38.62n/a12
Nov ’24€42.51
€46.42
+9.2%
9.1%€53.62€39.11€52.4812
Oct ’24€40.75
€44.54
+9.3%
8.7%€50.88€38.01€50.5212
Sep ’24€37.85
€44.54
+17.7%
8.7%€50.88€38.01€53.2012
Aug ’24€37.13
€43.50
+17.1%
8.7%€49.74€37.15€50.6612
Jul ’24€36.00
€46.34
+28.7%
8.5%€52.25€39.19€48.4512
Jun ’24€34.49
€46.34
+34.4%
8.5%€52.25€39.19€48.6012
May ’24€34.73
€45.58
+31.2%
8.2%€50.82€38.12€47.8412
Apr ’24€37.67
€50.69
+34.6%
9.2%€55.47€37.82€54.2312
Mar ’24€41.33
€49.89
+20.7%
9.1%€54.08€36.88€51.4112
Feb ’24€42.67
€49.89
+16.9%
9.1%€54.08€36.88€50.2312
Jan ’24€45.67
€50.07
+9.6%
9.1%€55.58€37.90€42.1511
Dec ’23€48.33
€49.98
+3.4%
8.9%€55.73€38.00€44.0712
Nov ’23€50.33
€52.48
+4.3%
9.4%€57.37€38.47€42.5112

Analyst Forecast: Target price is less than 20% higher than the current share price.

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