Samsung vs W. R. Berkley: Revenue, Profit and Business Model
Samsung reported ~$236.9B of revenue in FY2025 and ~$31.4B of net income. W. R. Berkley reported $14.7B of revenue in FY2025 and $1.8B of net income.
Latest financial snapshot
Samsung
- Latest revenue
- ~$236.9B (FY2025)
- Net income
- ~$31.4B
- Net margin
- 13.3%
- Revenue growth
- +4.5% a year, FY2021–FY2025
W. R. Berkley
- Latest revenue
- $14.7B (FY2025)
- Net income
- $1.8B
- Net margin
- 12.1%
- Revenue growth
- +7.5% a year, FY2016–FY2025
Financial summary
Samsung
Samsung's earnings follow the memory cycle. Revenue fell from ~$215 billion (KRW 302.2 trillion) in 2022 to ~$184 billion (KRW 258.9 trillion) in 2023 during a chip downturn, then recovered to ~$214 billion (KRW 300.9 trillion) in 2024 and ~$237 billion (KRW 333.6 trillion) in 2025, when net income reached about $31.5 billion (KRW 44.3 trillion). In 2026, AI server demand created a memory shortage. Q1 operating profit of ~$40.6 billion (KRW 57.2 trillion) exceeded the full-year 2025 total, and Q2 reached ~$63.5 billion (KRW 89.5 trillion) on ~$122 billion (KRW 171.5 trillion) revenue. Higher memory costs also squeezed Samsung's own devices: the MX and Networks unit lost ~$497 million (KRW 0.7 trillion) in Q2 2026 on ~$23.6 billion (KRW 33.2 trillion) revenue.
W. R. Berkley
FY2025 total revenues rose to $14.71B from $13.64B in FY2024, and net income to common stockholders was $1.78B. In Q2 2026, total revenues were $3.72B, net income to common stockholders was $452.3M (up 12.7%), operating income was $497.1M, and the GAAP combined ratio was 90.0%. Annualized return on beginning equity was 18.6%. Book value per share was $26.50 at June 30, 2026, and total assets were $45.68B.
Revenue and profit by year
Samsung
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$236.9B | ~$31.4B | 13.3% | +10.9% | Source |
| FY2024 | ~$213.6B | ~$23.9B | 11.2% | +16.2% | Source |
| FY2023 | ~$183.8B | ~$10.3B | 5.6% | -14.3% | Source |
| FY2022 | ~$214.6B | ~$38.9B | 18.1% | +8.1% | Source |
| FY2021 | ~$198.5B | ~$27.9B | 14.0% | — | Source |
W. R. Berkley
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $14.7B | $1.8B | 12.1% | +7.8% | Source |
| FY2024 | $13.6B | $1.8B | 12.9% | +12.3% | Source |
| FY2023 | $12.1B | $1.4B | 11.4% | +8.7% | Source |
| FY2022 | $11.2B | $1.4B | 12.4% | +18.1% | Source |
| FY2021 | $9.5B | $1B | 10.8% | +16.7% | Source |
| FY2020 | $8.1B | $530.7M | 6.6% | +2.5% | Source |
| FY2019 | $7.9B | $681.9M | 8.6% | +2.7% | Source |
| FY2018 | $7.7B | $640.7M | 8.3% | +0.1% | Source |
| FY2017 | $7.7B | $549.1M | 7.1% | +0.4% | Source |
| FY2016 | $7.7B | $601.9M | 7.9% | — | Source |
Where the revenue comes from
Samsung
- Memory semiconductors
- Foundry and system LSI
- Galaxy smartphones and mobile devices
- Display panels
- TVs and appliances
- Network equipment
- Harman automotive and audio
W. R. Berkley
- Net Premiums Earned
About 85% of H1 2026 total revenues
$6.30B in the first six months of 2026 across the Insurance and Reinsurance & Monoline Excess segments.
- Net Investment Income
About 11% of H1 2026 total revenues
$823.0M in the first six months of 2026 from the core portfolio, investment funds and the arbitrage trading account.
- Non-Insurance Businesses
About 4% of H1 2026 total revenues
$291.0M of revenues from non-insurance businesses in the first six months of 2026.
- Insurance Service Fees
Under 1% of H1 2026 total revenues
$58.8M in the first six months of 2026.
Business model and strategy
Samsung
How it makes money
Samsung earns money from two groups of businesses. Device Solutions (DS) makes and sells memory (DRAM, HBM, NAND), System LSI chips such as Exynos processors and ISOCELL image sensors, and contract foundry manufacturing.
Growth strategy
Samsung's growth plan centers on AI memory: ramping HBM4 for Nvidia and AMD accelerators, developing HBM4E, and adding DRAM capacity at Pyeongtaek. In foundry it is pursuing 2nm gate-all-around production and building its Taylor, Texas fab to win customers from TSMC. On the device side it relies on Galaxy AI features, foldables and premium TVs to defend share against Apple and Chinese brands.
Competitive advantage
Samsung's edge is manufacturing scale and breadth. It is the largest memory producer and one of only three major DRAM makers, alongside SK hynix and Micron. That lets it capture pricing upswings like the 2026 AI-driven shortage.
W. R. Berkley
How it makes money
W. R. Berkley collects premiums for commercial insurance and reinsurance, pays claims over time, and invests the money it holds in the meantime. The Insurance segment writes other liability, short-tail lines (such as commercial multi-peril property, inland marine, accident and health, surety and high net worth homeowners), commercial auto, workers' compensation and professional liability.
Growth strategy
W. R. Berkley grows by expanding specialty units where pricing is adequate, starting new units for niche markets, and returning surplus capital through regular and special dividends and share buybacks. It repurchased 6.16M shares for $413.9M in the first half of 2026.
Competitive advantage
W. R. Berkley's edge comes from its structure. Specialized units underwrite close to their markets and can shrink business that is priced too low while growing lines that offer better risk-adjusted returns. In Q2 2026, Insurance segment gross premiums written grew 5.4% while Reinsurance & Monoline Excess premiums fell, which is an example of that cycle management.
Questions about Samsung vs W. R. Berkley
Which company has higher revenue — Samsung Electronics Co., Ltd. or W. R. Berkley Corporation?
Samsung Electronics Co., Ltd. reported ~$236.9B (FY2025), while W. R. Berkley Corporation reported $14.7B (FY2025). By last reported revenue, Samsung Electronics Co., Ltd. is the larger business, with W. R. Berkley Corporation reporting a smaller revenue base.
What is the market cap of Samsung Electronics Co., Ltd. vs W. R. Berkley Corporation?
Samsung Electronics Co., Ltd.'s market capitalisation stands at $1.33T, while W. R. Berkley Corporation's is $22.3B. Samsung Electronics Co., Ltd. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to W. R. Berkley Corporation.
Which is more financially efficient — Samsung Electronics Co., Ltd. or W. R. Berkley Corporation?
Samsung Electronics Co., Ltd. generates $914k / employee in revenue per employee, while W. R. Berkley Corporation generates $1.67M / employee. W. R. Berkley Corporation shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Samsung Electronics Co., Ltd. and W. R. Berkley Corporation make money?
Samsung Electronics Co., Ltd. and W. R. Berkley Corporation generate revenue in fundamentally different ways. Samsung Electronics Co., Ltd.: Samsung earns money from two groups of businesses. W. R. Berkley Corporation: W.
Which company is valued higher relative to revenue — Samsung Electronics Co., Ltd. or W. R. Berkley Corporation?
On a price-to-sales (P/S) basis, Samsung Electronics Co., Ltd. trades at 5.6x P/S and W. R. Berkley Corporation at 1.5x P/S. Samsung Electronics Co., Ltd. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to W. R. Berkley Corporation. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Samsung Electronics Co., Ltd. bigger than W. R. Berkley Corporation?
By last reported revenue, Samsung Electronics Co., Ltd. (~$236.9B (FY2025)) is the larger company compared to W. R. Berkley Corporation ($14.7B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Samsung vs W. R. Berkley overview