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STOCK COMPARISON

Progressive vs W. R. Berkley: Fair Value & Quality

Both stocks run through our valuation models. Here is how Progressive (PGR) and W. R. Berkley (WRB) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Progressive as the less overvalued of the two: Progressive trades at $224 versus a fair value of $160 (-28%), while W. R. Berkley trades at $69.50 versus $47.08 (-32%).
Progressive
PGR · USD · Financials
-28%
upside to fair value
overvalued
Price$224
Fair Value$160
Quality65/100
W. R. Berkley
WRB · USD · Financials
-32%
upside to fair value
overvalued
Price$69.50
Fair Value$47.08
Quality68/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

ProgressiveW. R. Berkley
Valuation
11.7×P/E (TTM)15.3×
1.50×P/S (TTM)1.81×
4.43×P/B2.77×
9.3×EV/EBITDA10.5×
35.19×PEG4.22×
−28.4%Fair value upside−32.3%
0.2%Dividend yield0.5%
$0.40Dividend per share$0.36
Profitability
16%Operating margin17%
0.96×EBIT margin trend (5Y)1.83×
38%Return on equity20%
8%Return on assets4%
Growth
9%Revenue growth (YoY)4%
20.9%Avg. growth/yr (3Y)9.6%
15.5%Avg. growth/yr (5Y)12.7%
+23.4%Value creation/yr+23.8%
Balance & size
51.2×Interest coverage (EBIT/interest)18.4×
0.23×Debt / equity0.29×
$134BMarket cap$27B
mixedGrowth qualityhealthy

Progressive leads: 9 to 7 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Progressiveof which business quality 64 · market factors 59 W. R. Berkleyof which business quality 64 · market factors 57
ProfitabilityMargins and returns on capital today
61
38
Quality GrowthAre margins and returns improving?
64
41
CashflowEarnings quality: real cash, not paper profit
81
95
Fin. StrengthBalance sheet, leverage, solvency risk
54
57
InvestmentDisciplined investing over empire-building
37
63
Low VolatilityCalm price path (market factor)
87
92
MomentumPrice trend over the last 3–12 months (market factor)
46
44
52W MomentumDistance to the 52-week high (market factor)
50
41
Net IssuanceBuybacks instead of dilution
81
95

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyProgressivePrice $224W. R. BerkleyPrice $69.50
Multiples-27%below the price$163-29%below the price$49.31
Asset-Based-84%below the price$34.90-75%below the price$17.46
Economic Profit-6%close to the price$211-40%below the price$41.47
Minimum-84%below the price$34.90-75%below the price$17.46
Maximum-6%close to the price$211-29%below the price$49.31
Median-27%below the price$163-40%below the price$41.47
Geometric mean-53%below the price$106-53%below the price$32.93

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Progressive: 3 of 4 models see the stock below the current price.

W. R. Berkley: 4 of 4 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Progressive
Bear $120Fair Value $160Bull $200
$224 = current price (white tick)
W. R. Berkley
Bear $35.31Fair Value $47.08Bull $58.85
$69.50 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Progressive · Financials

Quality score65 · Top 25%
Fair value upside-28% · below median

W. R. Berkley · Financials

Quality score68 · Top 25%
Fair value upside-32% · below median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Progressive as the less overvalued of the two: Progressive trades at $224 versus a fair value of $160 (-28%), while W. R. Berkley trades at $69.50 versus $47.08 (-32%).

W. R. Berkley has the higher quality score (68/100).

See the full analysis →

More comparisons

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.