WallStSmart

NI Holdings Inc (NODK)vsW. R. Berkley Corp (WRB)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

W. R. Berkley Corp generates 5060% more annual revenue ($14.71B vs $285.05M). WRB leads profitability with a 12.1% profit margin vs -3.6%. WRB earns a higher WallStSmart Score of 55/100 (C-).

NODK

Avoid

30

out of 100

Grade: F

Growth: 3.3Profit: 2.0Value: 5.0Quality: 5.0

WRB

Buy

55

out of 100

Grade: C-

Growth: 4.0Profit: 7.0Value: 4.7Quality: 4.8
Piotroski: 2/9
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

Intrinsic value data unavailable for NODK.

WRBSignificantly Overvalued (-136.4%)

Margin of Safety

-136.4%

Fair Value

$30.26

Current Price

$64.49

$34.23 premium

UndervaluedFair: $30.26Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

NODK1 strengths · Avg: 10.0/10
Price/BookValuation
1.1x10/10

Reasonable price relative to book value

WRB2 strengths · Avg: 8.0/10
P/E RatioValuation
14.5x8/10

Attractively priced relative to earnings

Price/BookValuation
2.5x8/10

Reasonable price relative to book value

Areas to Watch

NODK4 concerns · Avg: 2.8/10
EPS GrowthGrowth
0.6%4/10

0.6% earnings growth

Market CapQuality
$271.38M3/10

Smaller company, higher risk/reward

Return on EquityProfitability
-4.3%2/10

ROE of -4.3% — below average capital efficiency

Revenue GrowthGrowth
-17.5%2/10

Revenue declined 17.5%

WRB4 concerns · Avg: 2.8/10
Revenue GrowthGrowth
1.5%4/10

1.5% revenue growth

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

PEG RatioValuation
10.112/10

Expensive relative to growth rate

EPS GrowthGrowth
-21.8%2/10

Earnings declined 21.8%

Comparative Analysis Report

WallStSmart Research

Bull Case : NODK

The strongest argument for NODK centers on Price/Book.

Bull Case : WRB

The strongest argument for WRB centers on P/E Ratio, Price/Book.

Bear Case : NODK

The primary concerns for NODK are EPS Growth, Market Cap, Return on Equity.

Bear Case : WRB

The primary concerns for WRB are Revenue Growth, Piotroski F-Score, PEG Ratio.

Key Dynamics to Monitor

NODK profiles as a turnaround stock while WRB is a value play — different risk/reward profiles.

NODK carries more volatility with a beta of 0.38 — expect wider price swings.

WRB is growing revenue faster at 1.5% — sustainability is the question.

WRB generates stronger free cash flow (896M), providing more financial flexibility.

Bottom Line

WRB scores higher overall (55/100 vs 30/100). Both earn "Buy" and "Avoid" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

NI Holdings Inc

FINANCIAL SERVICES · INSURANCE - PROPERTY & CASUALTY · USA

NI Holdings, Inc. underwrites property and casualty insurance products in the United States. The company is headquartered in Fargo, North Dakota.

W. R. Berkley Corp

FINANCIAL SERVICES · INSURANCE - PROPERTY & CASUALTY · USA

W. R. Berkley Corporation is a commercial lines property & casualty insurance holding company organized in Delaware and based in Greenwich, Connecticut.

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