What is White Mountains Insurance Group Ltd.'s earnings per share (EPS)?

White Mountains Insurance Group Ltd. (WTM) reported diluted earnings per share of $430.14 for fiscal year 2025. This represents a 379.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

White Mountains Insurance Group Ltd. (WTM) Financials

WTM

Trailing 12 months to June 30, 2026

Revenue $3.8B +55.4% YoY

Net Income $1.1B +446.2% YoY

EPS (Diluted) $437.13 +448.1% YoY

Operating Cash Flow $388.2M -17.5% YoY

Market Cap $4.8B as of Oct 3, 2026

Price / Sales 1.3x on $3.8B revenue, trailing 12 months to June 30, 2026

Price / Earnings 4.3x on $1.1B net income, trailing 12 months to June 30, 2026

Price / Book 0.9x on $5.4B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the WTM SEC filings page.

White Mountains Insurance Group Ltd. (WTM) reported $3.8B in revenue over the twelve months to Jun 30, 2026, up 55.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI WTM FY2025 2026-10-03

Profit surged, but cash conversion weakened as White Mountains expanded its balance sheet with greater liability financing.

FY2025 earnings quality was mixed: net income reached $1.1B, roughly twice operating cash flow of $550.5M, so the earnings increase did not translate one-for-one into cash. That reverses FY2024, when operating cash flow of $586.8M exceeded net income of $230.4M, indicating reported results can be materially affected by non-cash or timing effects.

Total assets rose from $9.9B in FY2024 to $12.3B in FY2025, showing a materially larger balance sheet. Debt-to-equity increased from 0.1x to 0.2x, indicating that expansion was not funded solely by retained equity.

Return on assets improved from 2.3% in FY2024 to 9.0% in FY2025, so the earnings rebound was meaningful even against a larger asset base. Share count declined alongside $203M of buybacks, showing capital was returned while leverage increased.

Financial Health Signals

Financial health score not available

White Mountains Insurance Group Ltd. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

5/7

White Mountains Insurance Group Ltd. passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.50x

For every $1 of reported earnings, White Mountains Insurance Group Ltd. generates $0.50 in operating cash flow ($550.5M OCF vs $1.1B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$844.6M

YoY+22.5%

QoQ+63.1%

White Mountains Insurance Group Ltd. generated $844.6M in revenue in Q2 2026. This represents an increase of 22.5% from the same quarter a year earlier. Against the prior quarter it is up 63.1%.

Net Income

$199.5M

YoY+62.3%

QoQ+833.5%

White Mountains Insurance Group Ltd. reported $199.5M in net income in Q2 2026. This represents an increase of 62.3% from the same quarter a year earlier. Against the prior quarter it is up 833.5%.

EPS (Diluted)

$80.58

YoY+68.8%

QoQ+740.0%

5Y CAGR+12.6%

10Y CAGR+1.9%

White Mountains Insurance Group Ltd. earned $80.58 per diluted share (EPS) in Q2 2026. This represents an increase of 68.8% from the same quarter a year earlier. Against the prior quarter it is up 740.0%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$127.8M

YoY-62.2%

QoQ-6.7%

5Y CAGR-5.8%

10Y CAGR+7.5%

White Mountains Insurance Group Ltd. held $127.8M in cash against $932.5M in long-term debt as of Q2 2026.

Dividends Per Share

$0.00

QoQ-100.0%

White Mountains Insurance Group Ltd. paid $0.00 per share in dividends in Q2 2026. Against the prior quarter it is down 100.0%.

Shares Outstanding

YoY-7.3%

QoQ-3.6%

5Y CAGR-5.1%

10Y CAGR-7.0%

White Mountains Insurance Group Ltd. had 2M shares outstanding in Q2 2026. This represents a decrease of 7.3% from the same quarter a year earlier. Against the prior quarter it is down 3.6%.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Net Margin

23.6%

YoY+5.8pp

QoQ+28.9pp

White Mountains Insurance Group Ltd.'s net profit margin was 23.6% in Q2 2026, showing the share of revenue converted to profit. This is up 5.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 28.9 percentage points.

Return on Equity

3.7%

YoY+1.0pp

QoQ+4.2pp

White Mountains Insurance Group Ltd.'s ROE was 3.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 1.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.2 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$190.9M

QoQ+637.1%

White Mountains Insurance Group Ltd. spent $190.9M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is up 637.1%.

R&D Spending

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

WTM Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WTM quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$3.8B	$3.7B+66.8%	$2.2B+3.4%	$2.2B+87.1%	$1.2B+88.5%	$614.4M-31.4%	$895.6M+0.2%	$893.4M+142.0%	$369.1M-1.3%	$373.8M+137.0%	$157.7M-64.2%	$440.0M-68.8%	$1.4B+3.6%	$1.4B-44.1%	$2.4B+11.8%	$2.2B
Cost of Revenue	$224.7M	$151.8M+412.8%	$29.6M-26.7%	$40.4M-59.0%	$98.6M+42.3%	$69.3M+513.3%	$11.3M-76.5%	$48.1M-80.7%	$248.7M+78.4%	$139.4M+36.7%	$102.0M+9.0%	$93.6M	N/A	N/A	N/A	N/A
SG&A Expenses	$666.4M	$606.6M+23.8%	$490.1M+13.3%	$432.6M+18.8%	$364.1M+24.9%	$291.6M+40.3%	$207.9M-36.7%	$328.2M+40.6%	$233.5M+12.3%	$208.0M+18.5%	$175.5M-12.6%	$200.7M-7.3%	$216.5M+45.2%	$149.1M-18.2%	$182.2M+3.9%	$175.3M
Interest Expense	$81.1M	$78.4M+28.9%	$60.8M-3.0%	$62.7M+55.6%	$40.3M+96.6%	$20.5M+177.0%	$7.4M-58.0%	$17.6M+85.3%	$9.5M+313.0%	$2.3M-23.3%	$3.0M+87.5%	$1.6M-88.7%	$14.2M-12.3%	$16.2M-63.8%	$44.8M-18.8%	$55.2M
Income Tax	$130.0M	$126.9M+289.3%	$32.6M+310.3%	-$15.5M-137.4%	$41.4M-6.8%	$44.4M+400.0%	-$14.8M-150.5%	$29.3M+832.5%	-$4.0M+48.7%	-$7.8M+76.3%	-$32.9M-359.1%	$12.7M+185.8%	-$14.8M-145.4%	$32.6M+307.6%	-$15.7M+87.2%	-$122.7M
Net Income	$1.1B	$1.1B+380.2%	$230.4M-54.8%	$509.2M-35.8%	$792.8M+387.9%	-$275.4M-141.5%	$663.4M+76.2%	$376.6M+296.8%	-$191.4M-132.3%	$593.1M+45.0%	$409.0M+47.8%	$276.7M-4.6%	$290.0M-6.2%	$309.1M+59.8%	$193.4M-76.1%	$809.4M
EPS (Basic)	N/A	$430.14+379.1%	$89.79-54.8%	$198.60-28.3%	$276.96+409.6%	-$89.46-139.4%	$226.97+74.2%	$130.27+411.9%	-$41.76-128.6%	$146.06+82.3%	$80.11+59.6%	$50.20-1.8%	$51.13-1.4%	$51.85+70.0%	$30.50-68.7%	$97.44
EPS (Diluted)	$437.13	$430.14+379.1%	$89.79-54.8%	$198.60-28.3%	$276.96+409.6%	-$89.46-139.4%	$226.97+74.2%	$130.27	-$41.76-128.6%	$146.06+82.4%	$80.06+59.5%	$50.20-1.8%	$51.13-1.4%	$51.85+70.0%	$30.50-68.7%	$97.44
Diluted Shares (Avg)	N/A	3M+0.1%	3M+0.2%	3M-10.6%	3M-7.1%	3M-1.3%	3M-1.9%	3M	3M-21.2%	4M-14.4%	5M-14.8%	6M-3.6%	6M-1.4%	6M-8.9%	7M-14.1%	8M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$844.6M+22.5%	$517.8M-10.4%	$1.6B+348.0%	$864.2M+3.0%	$689.2M+74.3%	$577.8M-10.7%	$358.0M-51.4%	$839.1M+61.5%
Cost of Revenue	$80.1M+88.9%	$42.7M+469.3%	$46.6M+529.7%	$55.3M+627.6%	$42.4M+505.7%	$7.5M-1.3%	$7.4M+7.2%	$7.6M-5.0%
SG&A Expenses	$143.3M+8.2%	$144.9M+50.9%	$201.4M+67.1%	$176.8M+45.0%	$132.4M+8.1%	$96.0M-23.3%	$120.5M-10.3%	$121.9M+22.4%
Interest Expense	$19.8M+6.5%	$19.3M+8.4%	$22.1M+56.7%	$19.9M+19.2%	$18.6M+25.7%	$17.8M+17.1%	$14.1M-20.8%	$16.7M+6.4%
Income Tax	$24.8M+92.2%	$800K-91.7%	$87.3M+2259.5%	$17.1M+47.4%	$12.9M+98.5%	$9.6M-11.1%	$3.7M+110.6%	$11.6M+58.9%
Net Income	$199.5M+62.3%	-$27.2M-180.2%	$835.8M+741.0%	$113.8M-36.4%	$122.9M+325.1%	$33.9M-85.7%	-$130.4M-145.5%	$179.0M+658.5%
EPS (Basic)	$80.58+68.8%	-$12.59-195.5%	$324.96+738.8%	$44.18-36.6%	$47.75+324.8%	$13.19-85.7%	-$50.87-145.5%	$69.68+658.2%
EPS (Diluted)	$80.58+68.8%	-$12.59-195.5%	$324.96+738.8%	$44.18-36.6%	$47.75+324.8%	$13.19-85.7%	-$50.87-145.5%	$69.68+658.2%
Diluted Shares (Avg)	2M-5.3%	2M-3.7%	N/A	3M+0.4%	3M+0.4%	3M+0.4%	N/A	3M+0.4%

Not reported in any period shown, so not listed: Gross Profit, R&D Expenses, Operating Income, EBITDA.

WTM Balance Sheet

WTM quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$12.3B+24.0%	$9.9B+18.4%	$8.4B+13.5%	$7.4B+5.6%	$7.0B+44.9%	$4.8B+21.3%	$4.0B+18.5%	$3.4B-8.1%	$3.7B-43.9%	$6.5B-36.6%	$10.3B-1.7%	$10.5B-13.9%	$12.1B-5.8%	$12.9B-8.3%	$14.1B
Cash & Equivalents	$185.6M-30.3%	$266.4M+117.6%	$122.4M-52.0%	$255.0M+72.6%	$147.7M+74.6%	$84.6M-47.5%	$161.0M+46.0%	$110.3M+13.6%	$97.1M+21.1%	$80.2M+3.1%	$77.8M-46.6%	$145.7M-37.6%	$233.5M+96.4%	$118.9M-52.8%	$251.9M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$174.9M-17.2%	$211.2M-43.9%	$376.8M-40.7%	$635.9M+0.8%	$630.6M-25.5%	$846.0M
Long-Term Investments	$3.0B+37.6%	$2.2B+7.6%	$2.0B+34.3%	$1.5B+8.0%	$1.4B+75.1%	$786.8M-8.1%	$856.3M	$0	$0-100.0%	$172.8M-45.3%	$315.8M-4.9%	$331.9M+14.9%	$288.9M-1.8%	$294.2M-2.4%	$301.3M
Goodwill	$614.1M+39.8%	$439.2M+160.2%	$168.8M-4.4%	$176.5M+24.0%	$142.3M-72.9%	$525.5M+33.1%	$394.7M+3.9%	$379.9M+1366.8%	$25.9M0.0%	$25.9M+39.2%	$18.6M-21.8%	$23.8M	$0	$0	N/A
Total Liabilities	$6.1B+26.2%	$4.8B+25.4%	$3.8B+10.7%	$3.5B+4.8%	$3.3B+225.2%	$1.0B+20.9%	$838.5M+30.1%	$644.4M+116.0%	$298.4M-89.4%	$2.8B-52.6%	$5.9B0.0%	$5.9B-23.6%	$7.7B-10.3%	$8.6B-8.1%	$9.4B
Long-Term Debt	$837.0M+48.8%	$562.5M-0.4%	$564.6M-1.8%	$575.2M+36.7%	$420.9M+11.8%	$376.4M+32.8%	$283.5M+47.1%	$192.7M+709.7%	$23.8M+87.4%	$12.7M-96.2%	$337.6M-1.6%	$343.1M-49.3%	$676.4M-10.0%	$751.2M+10.9%	$677.5M
Total Equity	$5.4B+21.0%	$4.5B+5.7%	$4.2B+13.2%	$3.7B+5.6%	$3.5B-9.2%	$3.9B+19.8%	$3.3B+14.7%	$2.8B-18.6%	$3.5B-2.5%	$3.6B-8.4%	$3.9B-2.1%	$4.0B+2.3%	$3.9B+4.7%	$3.7B-8.7%	$4.1B
Retained Earnings	$4.8B+23.6%	$3.9B+6.2%	$3.7B+14.9%	$3.2B+8.6%	$3.0B-10.7%	$3.3B+23.9%	$2.7B+18.0%	$2.3B-19.8%	$2.8B+1.7%	$2.8B-10.0%	$3.1B+2.5%	$3.0B+7.4%	$2.8B+10.2%	$2.5B-8.9%	$2.8B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$13.8B+16.4%	$13.2B+19.7%	$12.3B+24.0%	$12.3B+19.4%	$11.8B+16.3%	$11.0B+14.8%	$9.9B+18.4%	$10.3B+27.0%
Cash & Equivalents	$127.8M-62.2%	$137.0M-56.1%	$185.6M-30.3%	$474.2M+37.1%	$337.8M+32.4%	$312.0M+38.5%	$266.4M+117.6%	$346.0M+112.5%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$3.3B+43.7%	$3.3B+42.2%	$3.0B+37.6%	$2.6B+25.0%	$2.3B+14.1%	$2.3B+14.9%	$2.2B+7.6%	$2.1B+9.2%
Goodwill	$795.9M+48.9%	$615.3M+40.1%	$614.1M+39.8%	$1.1B+148.7%	$534.6M+21.7%	$439.2M0.0%	$439.2M+160.2%	$439.2M+160.2%
Total Liabilities	$7.5B+15.9%	$7.0B+19.2%	$6.1B+26.2%	$6.6B+30.5%	$6.5B+22.4%	$5.9B+24.8%	$4.8B+25.4%	$5.1B+27.6%
Long-Term Debt	$932.5M+34.2%	$834.8M+23.5%	$837.0M+48.8%	$870.4M+59.7%	$694.6M+31.0%	$676.1M+27.1%	$562.5M-0.4%	$544.9M-3.5%
Total Equity	$5.4B+16.0%	$5.4B+19.2%	$5.4B+21.0%	$4.8B+3.4%	$4.6B+5.0%	$4.5B+0.9%	$4.5B+5.7%	$4.6B+16.8%
Retained Earnings	$4.8B+18.5%	$4.8B+21.5%	$4.8B+23.6%	$4.2B+3.3%	$4.1B+5.3%	$3.9B+0.6%	$3.9B+6.2%	$4.0B+18.9%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities, Non-Current Liabilities.

WTM Cash Flow Statement

WTM quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$388.2M	$550.5M-6.2%	$586.8M+45.2%	$404.1M+10.7%	$365.0M+845.6%	$38.6M+163.7%	-$60.6M+49.7%	-$120.5M-287.5%	-$31.1M-132.9%	$94.6M+161.0%	-$155.1M-185.0%	$182.4M+53.5%	$118.8M+217.6%	-$101.0M+55.3%	-$225.8M-97.2%	-$114.5M
Depreciation & Amortization	N/A	$9.0M+240.6%	-$6.4M+64.0%	-$17.8M-514.0%	$4.3M-80.1%	$21.6M+125.0%	$9.6M-67.8%	$29.8M+16.0%	$25.7M+14.7%	$22.4M+9.8%	$20.4M+436.8%	$3.8M-89.2%	$35.3M+23.4%	$28.6M-43.7%	$50.8M	N/A
Stock-Based Compensation	N/A	$18.5M+13.5%	$16.3M+6.5%	$15.3M+9.3%	$14.0M-4.8%	$14.7M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$396.8M	-$666.9M-49.2%	-$447.0M+17.8%	-$543.9M-570.9%	$115.5M+155.4%	-$208.3M-422.4%	$64.6M+207.8%	-$59.9M-113.0%	$459.2M-36.1%	$718.5M-43.7%	$1.3B+11199.1%	$11.3M-76.4%	$47.9M-88.1%	$401.8M-51.6%	$829.6M+3.8%	$799.6M
Financing Cash Flow	-$201.4M	$35.6M+747.6%	$4.2M-41.7%	$7.2M+102.1%	-$344.9M-258.5%	$217.6M+344.1%	$49.0M-78.7%	$230.5M+155.6%	-$414.3M+40.7%	-$699.0M+26.3%	-$948.4M-328.6%	-$221.3M-70.8%	-$129.6M+30.5%	-$186.5M+71.2%	-$648.2M-40.9%	-$460.2M
Dividends Paid	$2.4M	$2.6M+4.0%	$2.5M-3.8%	$2.6M-13.3%	$3.0M-3.2%	$3.1M-3.1%	$3.2M0.0%	$3.2M-15.8%	$3.8M-17.4%	$4.6M-14.8%	$5.4M-10.0%	$6.0M-3.2%	$6.2M0.0%	$6.2M-6.1%	$6.6M-17.5%	$8.0M
Share Buybacks	$409.5M	$202.6M+2464.6%	$7.9M-75.8%	$32.7M-94.7%	$615.8M+472.8%	$107.5M+26.2%	$85.2M	$0-100.0%	$511.9M-28.4%	$714.6M-18.9%	$881.3M+228.1%	$268.6M+109.5%	$128.2M+60.7%	$79.8M-88.1%	$669.1M+164.5%	$253.0M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$55.5M-131.3%	$30.5M+175.9%	$53.9M-15.9%	$359.3M+33.4%	$177.5M-18.1%	-$40.2M-210.1%	$64.1M+161.6%	$269.4M+20.9%
Depreciation & Amortization	$9.2M+1250.0%	$4.8M+336.4%	$6.4M+481.8%	$2.3M+185.2%	-$800K+70.4%	$1.1M+152.4%	$1.1M+114.7%	-$2.7M+49.1%
Stock-Based Compensation	N/A	$4.1M+7.9%	N/A	N/A	N/A	$3.8M+18.8%	N/A	N/A
Investing Cash Flow	$143.4M+187.5%	-$29.8M-508.2%	-$215.0M-31.7%	-$295.4M-55.8%	-$163.8M+15.9%	$7.3M-92.7%	-$163.2M-83.6%	-$189.6M+18.3%
Financing Cash Flow	-$97.1M-902.5%	-$49.3M-162.8%	-$127.5M-753.8%	$72.5M+559.1%	$12.1M+53.2%	$78.5M+329.5%	$19.5M-18.8%	$11.0M-37.5%
Dividends Paid	$0	$2.4M-7.7%	$0	$0	$0	$2.6M+4.0%	$0	$0
Share Buybacks	$190.9M	$25.9M+161.6%	$192.7M+96250.0%	$0	$0	$9.9M+22.2%	-$200K	$0

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.

WTM Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WTM quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Net Margin	29.6%+19.3pp	10.3%-13.2pp	23.5%-45.0pp	68.5%+113.3pp	-44.8%-118.9pp	74.1%+31.9pp	42.1%+94.0pp	-51.9%	158.7%	259.4%	62.9%+42.3pp	20.5%-2.2pp	22.7%+14.8pp	7.9%-29.2pp	37.2%
Return on Equity	20.4%+15.3pp	5.1%-6.9pp	12.0%-9.2pp	21.2%+28.9pp	-7.8%-24.7pp	17.0%+5.4pp	11.6%+18.3pp	-6.7%-23.7pp	17.0%+5.6pp	11.4%+4.3pp	7.1%-0.2pp	7.3%-0.7pp	7.9%+2.7pp	5.2%-14.6pp	19.8%
Return on Assets	9.0%+6.7pp	2.3%-3.8pp	6.1%-4.7pp	10.7%+14.7pp	-3.9%-17.7pp	13.7%+4.3pp	9.4%+15.1pp	-5.7%-21.9pp	16.2%+9.9pp	6.3%+3.6pp	2.7%-0.1pp	2.8%+0.2pp	2.5%+1.0pp	1.5%-4.3pp	5.8%
Debt-to-Equity	0.150.0x	0.130.0x	0.130.0x	0.150.0x	0.120.0x	0.100.0x	0.090.0x	0.07+0.1x	0.010.0x	0.00-0.1x	0.090.0x	0.09-0.1x	0.170.0x	0.200.0x	0.17
Asset Turnover	0.30+0.1x	0.230.0x	0.26+0.1x	0.16+0.1x	0.09-0.1x	0.190.0x	0.22+0.1x	0.110.0x	0.10+0.1x	0.020.0x	0.04-0.1x	0.140.0x	0.11-0.1x	0.190.0x	0.15

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Net Margin	23.6%+5.8pp	-5.3%-11.1pp	52.1%+88.5pp	13.2%-8.2pp	17.8%+31.6pp	5.9%-30.6pp	-36.4%-75.3pp	21.3%+16.8pp
Return on Equity	3.7%+1.0pp	-0.5%-1.3pp	15.4%+18.3pp	2.4%-1.5pp	2.6%+3.9pp	0.8%-4.5pp	-2.9%-9.7pp	3.9%+3.3pp
Return on Assets	1.5%+0.4pp	-0.2%-0.5pp	6.8%+8.1pp	0.9%-0.8pp	1.0%+1.6pp	0.3%-2.2pp	-1.3%-4.7pp	1.7%+1.4pp
Debt-to-Equity	0.170.0x	0.160.0x	0.150.0x	0.18+0.1x	0.150.0x	0.150.0x	0.130.0x	0.120.0x
Asset Turnover	0.060.0x	0.040.0x	0.13+0.1x	0.070.0x	0.060.0x	0.050.0x	0.04-0.1x	0.080.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
White Mountains Insurance Group Ltd. WTM	FY2025	$3.7B	$1.1B	29.6%	$4.8B	—
Hagerty, Inc. HGTY	FY2025	$1.5B	$149.2M	10.3%	$1.5B	37/100
Mercury General Corp. MCY	FY2025	$6.0B	$541.1M	9.0%	$5.7B	34/100
Selective Insurance Group SIGI	FY2025	$5.3B	$466.4M	8.7%	$5.1B	43/100
RLI Corp. RLI	FY2025	$1.9B	$403.3M	21.4%	$5.1B	60/100
Kemper Corporation KMPR	FY2025	$4.8B	$143.3M	3.0%	$1.5B	8/100

Where White Mountains Insurance Group Ltd. Ranks

Frequently Asked Questions

What is White Mountains Insurance Group Ltd.'s annual revenue?

White Mountains Insurance Group Ltd. (WTM) reported $3.7B in total revenue for fiscal year 2025. This represents a 66.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is White Mountains Insurance Group Ltd.'s revenue growing?

White Mountains Insurance Group Ltd. (WTM) revenue grew by 66.8% year-over-year, from $2.2B to $3.7B in fiscal year 2025.

Is White Mountains Insurance Group Ltd. profitable?

Yes, White Mountains Insurance Group Ltd. (WTM) reported a net income of $1.1B in fiscal year 2025, with a net profit margin of 29.6%.

How much debt does White Mountains Insurance Group Ltd. have?

As of fiscal year 2025, White Mountains Insurance Group Ltd. (WTM) had $185.6M in cash and equivalents against $837.0M in long-term debt.

What is White Mountains Insurance Group Ltd.'s net profit margin?

White Mountains Insurance Group Ltd. (WTM) had a net profit margin of 29.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does White Mountains Insurance Group Ltd. pay dividends?

Yes, White Mountains Insurance Group Ltd. (WTM) paid $1.00 per share in dividends during fiscal year 2025.

What is White Mountains Insurance Group Ltd.'s return on equity (ROE)?

White Mountains Insurance Group Ltd. (WTM) has a return on equity of 20.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is White Mountains Insurance Group Ltd.'s operating cash flow?

White Mountains Insurance Group Ltd. (WTM) generated $550.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are White Mountains Insurance Group Ltd.'s total assets?

White Mountains Insurance Group Ltd. (WTM) had $12.3B in total assets as of fiscal year 2025, including both current and long-term assets.

Does White Mountains Insurance Group Ltd. buy back shares?

Yes, White Mountains Insurance Group Ltd. (WTM) spent $202.6M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does White Mountains Insurance Group Ltd. have outstanding?

White Mountains Insurance Group Ltd. (WTM) had 2M shares outstanding as of fiscal year 2025.

What is White Mountains Insurance Group Ltd.'s debt-to-equity ratio?

White Mountains Insurance Group Ltd. (WTM) had a debt-to-equity ratio of 0.15 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is White Mountains Insurance Group Ltd.'s return on assets (ROA)?

White Mountains Insurance Group Ltd. (WTM) had a return on assets of 9.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is White Mountains Insurance Group Ltd.'s P/E ratio?

White Mountains Insurance Group Ltd. (WTM) trades at 4.3x earnings, its market capitalization divided by net income of $1.1B net income, trailing 12 months to June 30, 2026. The market capitalization is $4.8B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is White Mountains Insurance Group Ltd.'s price-to-sales ratio?

White Mountains Insurance Group Ltd. (WTM) trades at 1.3x sales, its market capitalization divided by revenue of $3.8B revenue, trailing 12 months to June 30, 2026. The market capitalization is $4.8B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is White Mountains Insurance Group Ltd.'s Piotroski F-Score?

White Mountains Insurance Group Ltd. (WTM) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are White Mountains Insurance Group Ltd.'s earnings high quality?

White Mountains Insurance Group Ltd. (WTM) has an earnings quality ratio of 0.50x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.