White Mountains Insurance Group, Ltd.

US$2,241As of Sun 8 Nov 2026, 12:00 UTC

NYSE:WTMFinancials

Country USA

PE (Fwd) •••

TSR 10Y CAGR 10.52%

Div yield 0.04%

ROE 16.56%

Insurance (Property & Casualty)

Beta (5Y) 0.28

PE TTM 5.768

TSR TTM 17.72%

Mkt cap US$5.278B

Combined —

SE Grade™

Value

Quality

Moat

Consensus

Reference

$2,745

22.49%

27.90%

Hold 7|9|1|4|8

TTM

FYE 31 Dec USD

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

10Y

Peers

0.936

Revenue$B

0.804

0.840

0.900

0.946

0.981

1.041

1.093

1.130

1.166

1.233

0.983

4.67%

5.15%

18.27

Revenue growth%

11.44

9.55

12.07

12.60

13.35

15.51

13.86

13.97

11.20

12.21

27.01

13.86

12.41

24.27

Combined R.%

80.14

79.18

80.87

80.24

79.77

79.55

78.15

78.98

80.11

28.72

79.55

79.94

23.06

Operating margin%

26.04

26.66

29.01

29.38

26.61

28.16

25.45

27.51

28.87

27.10

6.04

27.51

27.30

14.63

Net margin%

13.86

14.07

13.32

15.04

15.82

18.52

20.81

21.96

24.29

22.05

4.90

21.96

17.17

16.23

P/E ratio (avg)x

19.47

20.89

18.31

16.37

15.73

16.12

16.11

13.77

12.24

10.57

11.15

13.77

16.11

35.02

P/TBVx

43.63

45.99

45.83

48.83

49.51

54.68

56.90

58.98

55.51

49.44

29.18

55.51

49.47

27.41

P/Bx

31.98

33.97

31.86

29.73

30.75

30.61

30.84

33.92

36.92

40.64

10.05

33.92

31.92

25.55

Prem. grth%

26.64

29.08

31.35

29.66

29.33

26.96

26.31

25.43

24.41

24.21

27.99

25.43

26.80

28.14

Invest. yld%

35.02

33.73

34.40

32.49

34.97

37.89

39.88

40.38

39.76

38.37

26.37

39.76

36.46

3.40

BVPS grth%

1.11

1.79

1.11

2.00

0.40

0.93

2.01

0.40

12.10

0.40

1.02

9.10

Return on equity%

26.40

26.42

25.50

26.91

26.05

28.92

27.65

30.25

28.31

20.29

28.92

27.28

19.97

Return on assets%

32.32

30.54

27.88

26.81

27.04

24.82

26.60

27.70

27.74

30.46

4.15

27.70

27.72

197.01

EPS$

31.00

32.93

32.41

34.20

36.26

31.48

28.89

29.98

32.10

29.73

209.59

(3.89%)

(1.59%)

—

18.57

EPS growth%

30.80

29.98

27.61

29.08

27.25

27.18

24.90

24.66

26.52

26.15

10.34

26.15

27.22

99.70

Bookvalue per sh$

200.42

213.61

211.76

221.06

234.77

227.87

247.11

244.59

229.69

215.06

253.16

(1.74%)

0.40%

—

115.80

TBV/sh$

193.96

211.29

221.51

255.00

245.48

285.20

313.88

292.17

300.26

303.25

225.57

4.32%

5.66%

—

79.84

Dividend per sh$

131.79

118.06

111.24

98.33

97.35

86.16

88.20

87.11

78.97

76.80

183.17

(4.63%)

(6.33%)

—

19.46

Div yield (avg)%

12.15

14.22

15.37

17.70

16.22

15.09

16.89

18.88

21.57

20.89

24.24

18.88

16.56

15.86

Payout ratio%

15.78

15.23

16.15

18.50

20.49

20.31

17.91

15.60

14.70

17.31

29.29

17.31

16.73

2.337

Shares (diluted)M

1.997

1.950

1.993

1.788

1.813

1.612

1.383

1.244

1.126

1.145

2.325

(8.78%)

(5.48%)

17.22

Buyback yield%

17.88

15.78

18.78

16.68

14.55

14.56

17.14

15.17

17.52

15.25

13.48

15.25

16.23

1.640

D/E ratiox

0.120

0.128

0.136

0.149

0.151

0.149

0.166

0.154

0.171

0.178

1.039

0.166

0.150

1.356

Assets$B

3.225

3.484

3.829

4.162

4.619

5.031

5.372

6.023

6.517

7.087

0.833

8.94%

8.83%

0.331

LT debt$B

0.895

0.943

1.106

1.302

1.359

1.641

1.841

1.954

2.159

2.564

1.238

13.54%

12.67%

Peers (US$5.278B)

Cap (US$)

Hagerty, Inc.

6.176B

147.5x

Selective Insurance…

5.867B

11.94x

Mercury General…

4.576B

7.119x

Sunshine Insurance…

5.355B

4.777x

Capital

TTM

10Y

Leveragex

2.061

0.057

0.059

EBIT/Intx

0.559

0.101

0.107

Own earn%

—

Sh yield%

36.68

34.05

34.04

Owners

Insiders/Inst%

7.60

27.85

Short interest%

2.99

SBC / revenue%

3.60

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

Op margin range%

25–29

$1 testx

—

Incr. ROIC%

—

White Mountains Insurance Group, Ltd. provides insurance services in the United States, the United Kingdom, Bermuda, and internationally. It operates through Ark/WM Outrigger, HG Global, Kudu, Distinguished, and Other Operations segments.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

$1.233B

5.15%

1.00×

Claims and benefits

$611.8M

5.28%

1.01×

Total costs

$914.7M

5.24%

1.01×