Discounted Cash Flow

Berkley W R Corp.

WRB · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $7.7b $601.9m $797.5m 7.9% $4.91
2017 $7.7b (0.4%) $549.1m (-8.8%) $595.2m (-25.4%) 7.1% (-9.1%) $4.40 (-10.4%)
2018 $7.7b (0.1%) $640.7m (16.7%) $570.3m (-4.2%) 8.3% (16.6%) $5.06 (15.0%)
2019 $7.9b (2.7%) $681.9m (6.4%) $1.1b (89.9%) 8.6% (3.6%) $3.58 (-29.2%)
2020 $8.1b (2.5%) $530.7m (-22.2%) $1.6b (45.7%) 6.6% (-24.1%) $2.84 (-20.7%)
2021 $9.5b (16.7%) $1.0b (92.7%) $2.1b (34.1%) 10.8% (65.0%) $5.53 (94.7%)
2022 $11.2b (18.1%) $1.4b (35.1%) $2.5b (18.8%) 12.4% (14.4%) $4.99 (-9.8%)
2023 $12.1b (8.7%) $1.4b (0.0%) $2.9b (14.3%) 11.4% (-8.0%) $5.10 (2.2%)
2024 $13.6b (12.3%) $1.8b (27.1%) $3.6b (24.2%) 12.9% (13.2%) $4.39 (-13.9%)
2025 $14.7b (7.8%) $1.8b (1.3%) $3.4b (-4.5%) 12.1% (-6.0%) $4.48 (2.1%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model