Revenue Growth Momentum
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.
来源: 10-Q Income Statement
该报告暂无中文版，以下为英文版分析。
按公开的固定规则计算，不是模型的主观判断——但其中一项输入（高等级风险的条数）取自下方的 AI 分析。
非投资建议，也不是目标价——评的是本季基本面，不是股价。 完整方法论 →
AI核心结论
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.
营收
36.9亿美元
同比 +4.03%
每股收益（稀释）
1.31美元
同比 +25.96%
SEC XBRL 原值
Berkley W R (WRB) Q1 FY2026 营收 36.9亿美元，同比增长 4.0%。 经营活动现金流 6.68亿美元，同比下降 10.2%。 WRB 的财年 Q1 FY2026 对应日历 Q1 2026。
近 4 个季度：2 次超预期
| 季度 | 实际 EPS（美元） | 市场预期（美元） | 结果 |
|---|---|---|---|
| 2026年6月 | 1.27 | 1.10 | 超预期 +15.9% |
| 2026年3月本次财报 | 1.30 | 1.16 | 超预期 +12.4% |
| 2025年12月 | 1.13 | 1.14 | 不及预期 -0.7% |
| 2025年9月 | 1.10 | 1.11 | 不及预期 -0.5% |
2026年3月 调整后（非 GAAP） EPS 1.30美元，分析师一致预期 1.16美元，超预期 +12.4%。 分析师一致预期按市场通行的调整后（非 GAAP）口径。本季 GAAP 稀释每股收益为 1.31美元。
由 AI 基于本次 SEC 报告整理
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.
来源: 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.
来源: 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.
来源: 10-Q Balance Sheet
Share repurchases accelerated dramatically, rising 514.7% YoY to $302.4M in Q1 FY2026 vs. $49.2M in Q1 FY2025, reflecting management's confidence in the company's valuation and excess capital position.
来源: 10-Q Cash Flow Statement
Operating cash flow dipped 10.2% YoY to $667.9M from $743.8M, which may reflect timing differences in premium collections or claims payments, though the absolute level remains robust.
来源: 10-Q Cash Flow Statement
由 AI 基于本次 SEC 报告整理 · 高 2 中 3 低 0
WRB 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.
来源: 10-Q Balance Sheet, Key Ratios
As a property and casualty insurer, WRB is exposed to large catastrophe events that could cause sudden spikes in claims. A single severe loss year could materially erode the net income margin of 13.96% achieved in Q1 FY2026.
来源: 10-Q Income Statement
With total assets of $44.3B, a significant portion is held in fixed-income investments. Rising credit spreads or interest rate volatility could reduce the fair value of the investment portfolio and impact reported equity and earnings.
来源: 10-Q Balance Sheet
Operating cash flow fell 10.2% YoY to $667.9M despite strong net income growth, suggesting potential timing mismatches in cash collections or rising paid losses. If this trend persists, it could constrain future capital deployment.
来源: 10-Q Cash Flow Statement
The 514.7% YoY surge in buybacks to $302.4M, combined with $339.1M in total financing outflows, reduces the capital cushion available to absorb unexpected losses. Regulators may scrutinize capital adequacy if buybacks continue at this pace.
来源: 10-Q Cash Flow Statement
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
营收 亿美元 | 36.90 亿美元 | 35.47 亿美元 | +4.03% |
净利润 亿美元 | 5.15 亿美元 | 4.18 亿美元 | +23.38% |
每股收益（基本） 美元 | 1.31 美元 | 1.05 美元 | +24.76% |
每股收益（稀释） 美元 | 1.31 美元 | 1.04 美元 | +25.96% |
答案基于本次 SEC 报告与本页数据