AI Takeaway
WRB delivered strong Q1 FY2026 results with net income surging 23.4% YoY to $515.2M on revenue of $3.69B, while aggressively returning capital to shareholders through $302.4M in share buybacks.
Revenue
$3.69B
++4.03% YoY
EPS (Basic)
$1.31
++24.76% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-Q filing
WRB grew total revenue 4.0% YoY to $3.69B in Q1 FY2026 (vs. $3.55B in Q1 FY2025), reflecting continued expansion in its insurance operations and investment income streams.
Source: Source: 10-Q Income Statement
Net income jumped 23.4% YoY to $515.2M, outpacing revenue growth substantially and indicating meaningful improvement in underwriting profitability and/or investment gains during the quarter.
Source: Source: 10-Q Income Statement
Total assets grew 7.2% YoY to $44.3B, supported by a 32.6% surge in cash and equivalents to $2.28B, signaling strong liquidity and capital accumulation.
Source: Source: 10-Q Balance Sheet
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Upgrade to unlockWRB carries a debt-to-equity ratio of approximately 3.55x, which is elevated and reflects the capital-intensive nature of insurance operations. Sustained leverage at this level increases sensitivity to adverse underwriting results or investment losses that could pressure equity.
Source: Source: 10-Q Balance Sheet, Key Ratios
Unlock 4 more detailed risk analysis
Upgrade to unlockReported EPS of $1.30 versus the $1.16 analyst consensus — a +12.4% beat for Q1 FY2026.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $3.69B | $3.55B | +4.03% |
Net Income | $515.22M | $417.57M | +23.38% |
EPS (Basic) | $1.31 | $1.05 | +24.76% |
EPS (Diluted) | $1.31 | $1.04 | +25.96% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $44.32B | $41.35B | +7.18% |
Total Liabilities | $34.56B | $32.42B | +6.62% |
Stockholders' Equity | $9.74B | $8.91B | +9.26% |
Cash & Equivalents | $2.28B | $1.72B | +32.60% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $667.86M | $743.82M | -10.21% |
Investing Cash Flow | $-588.59M | $-924.42M | +36.33% |
Financing Cash Flow | $-339.11M | $-81.41M | -316.55% |
Share Buybacks | $302.43M | $49.2M | +514.67% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Net Margin | 14.0% | — | — |
ROE | 5.3% | — | — |
ROA | 1.2% | — | — |
Debt to Equity | $3.549 | — | — |
Other companies in Property & Casualty Insurance
WRB delivered strong Q1 FY2026 results with revenue of $3.69B (+4.0% YoY) and net income of $515.2M (+23.4% YoY). Basic EPS came in at $1.31, up 24.8% from $1.05 in Q1 FY2025, driven by improved profitability and a reduced share count from buybacks.
Yes, WRB dramatically accelerated its share repurchase program, buying back $302.4M worth of stock in Q1 FY2026 compared to just $49.2M in Q1 FY2025, a 514.7% increase. This aggressive buyback activity contributed to the strong EPS growth and signals management's confidence in the company's financial position.
WRB's balance sheet shows total assets of $44.3B and stockholders' equity of $9.74B, with cash and equivalents surging 32.6% YoY to $2.28B. The debt-to-equity ratio stands at 3.55x, which is typical for an insurance company but warrants monitoring, while operating cash flow of $667.9M supports ongoing operations and capital returns.
WRB's net income grew 23.4% YoY while revenue grew only 4.0%, resulting in net margin expansion to 13.96%. This divergence suggests improved underwriting profitability, favorable loss experience, or stronger investment income relative to the prior year period.
Key risks for WRB include its elevated debt-to-equity ratio of 3.55x, exposure to catastrophic loss events that could spike claims costs, and a 10.2% YoY decline in operating cash flow despite strong net income growth. The aggressive pace of share buybacks ($302.4M in a single quarter) also reduces the capital buffer available to absorb unexpected adverse developments.