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WTMWhite Mountains Insurance Group, Ltd.
$2053.64$5.1B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
WTM logo

White Mountains Insurance Group, Ltd.

WTM
NYSE · Property & Casualty Insurance
$2053.64
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$5.09B
P/E4.8x
52W High$2333.00
Volume16.12K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Reserve Releases Drive Volatile Earnings Quality

White Mountains Insurance Group exhibits a fundamentally sound capital base, with equity expanding 20% from $4.5B in 2024Q1 to $5.4B by 2026Q2, yet earnings quality is undermined by extreme underwriting volatility. The combined ratio swung from -56.4% in 2025Q...

GrowthMixed
ProfitabilityStable
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

WTM price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

2/12 Beats

EPS beat 2 of last 12 quarters

02

Valuation risk

-64% Peers

P/E is 64% below peer median

03

Market leadership

RS 42 · Lag

Laggard (Underperforming 58% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Nov 6

Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
WTM+0.62%
S&P 500 (^GSPC)+13.20%
1-Year Return
WTM+16.35%
S&P 500 (^GSPC)+15.98%
3-Year Return
WTM+31.99%
S&P 500 (^GSPC)+74.03%
5-Year Return
WTM+93.17%
S&P 500 (^GSPC)+75.24%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
4.8x
Forward P/E
15.3x
EV/EBITDA0th %ile
4.3x
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
4.8x
7.6x
0th· Low
EV/EBITDA
4.3x
7.8x
0th· Low
Price/FCF
N/A
9.4x
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$2796.65+36.2%
Base (Fair)$5811.29+181.9%
Bull$9950.50+384.5%
$2796.65 Bear$5811.29 Base$9950.50 Bull
Current Market Price: $2053.64
Trades at a 64.7% discount to Base DCF ($5811.29)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$2.71B+15.0% YoY
Net income
$1.11B+380.2% YoY
Free cash flow
-$7M-101.2% YoY
Operating margin
49.1%+35.6 pts YoY
ROIC (TTM)16.1%
Avg ROIC 5Y-
ROE (TTM)19.4%
Piotroski Score3 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate2/12 (17%)
Revenue Beat Rate1/12 (20%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 6, 2026
$0.81+7.4%
vs $0.75
$845M+0.0%
vs $845M
Q2 2026
May 6, 2026
-$12.59-214.4%
vs -$4.00
$515M+0.0%
vs $515M
Q1 2026
Feb 6, 2026
$3.27-13.8%
vs $3.79
$576M+0.0%
vs $576M
Q4 2025
Nov 6, 2025
$44.19-22.5%
vs $57.00
$864M+0.0%
vs $864M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Defense World·Sep 8, 2026
721 Shares in White Mountains Insurance Group, Ltd. $WTM Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in White Mountains Insurance Group, Ltd. (NYSE: WTM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 721 shares of the insurance provider's stock, valued at approximately $1,495,000. Other institutional investors

Zacks Investment Research·Sep 4, 2026
All You Need to Know About White Mountains (WTM) Rating Upgrade to Buy

White Mountains (WTM) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Defense World·Sep 1, 2026
Deutsche Bank AG Invests $885,000 in White Mountains Insurance Group, Ltd. $WTM

Deutsche Bank AG acquired a new stake in shares of White Mountains Insurance Group, Ltd. (NYSE: WTM) during the undefined quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 427 shares of the insurance provider's stock, valued at approximately $885,000. A number of other hedge

PRNewsWire·Aug 27, 2026
Stephen Klar Elected to the White Mountains Board

HAMILTON, Bermuda, Aug. 27, 2026 /PRNewswire/ -- The Board of Directors of White Mountains Insurance Group, Ltd. (NYSE: WTM) has elected Stephen Klar as a director of the Company.

Filtered for White Mountains Insurance Group, Ltd.More Headlines
04

Compare before deciding

Benchmark WTM against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for White Mountains Insurance Group, Ltd. (WTM)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
WTM logoWTMWhite Mountains Insurance Group, Ltd.Current
$2053.64$5.09B4.7714.99%40.87%19.43%0.05%
MKL logoMKLMarkel Corporation
$1763.36$21.85B10.42-0.96%13.17%12.13%—
ACGL logoACGLArch Capital Group Ltd.
$94.95$33.17B8.1714.27%24.44%19.52%—
RNR logoRNRRenaissanceRe Holdings Ltd.
$325.90$13.54B5.769.45%24.71%13.88%—
ERIE logoERIEErie Indemnity Company
$234.38$10.83B22.077.17%14%24.52%—
HCI logoHCIHCI Group, Inc.
$180.22$2.3B7.2520.21%32.6%28.69%—

Compare WTM vs Peers

White Mountains Insurance Group, Ltd. (WTM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MKL

Most directly comparable listed peer for WTM.

Scale Benchmark

vs CB

Larger-name benchmark to compare WTM against a more recognizable public peer.

Peer Set

Compare Top 5

vs MKL, ACGL, RNR, ERIE

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

WTM SEC Filings & Documents

White Mountains Insurance Group, Ltd. (WTM) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 6, 2026·SEC

Material company update

Jun 5, 2026·SEC

Material company update

May 21, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 27, 2026·SEC

FY 2025

Feb 28, 2025·SEC

FY 2024

Feb 26, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 6, 2026·SEC

FY 2026

May 6, 2026·SEC

FY 2025

Nov 6, 2025·SEC

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WTM Frequently Asked Questions

White Mountains Insurance Group, Ltd. (WTM) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is White Mountains Insurance Group, Ltd. growing?

White Mountains Insurance Group, Ltd. (WTM) grew revenue by 15.0% over the past year. This is steady growth.

Is WTM profitable?

Yes, White Mountains Insurance Group, Ltd. (WTM) is profitable, generating $1.12B in net income for fiscal year 2025 (40.9% net margin).

Dividend & Returns
Does WTM pay dividends?

White Mountains Insurance Group, Ltd. (WTM) does not currently pay a meaningful dividend. The company may be reinvesting profits for growth.

What is WTM's return on equity?

White Mountains Insurance Group, Ltd. (WTM) has a return on equity (ROE) of 19.4%. This is reasonable for most industries.

Industry Metrics
What is White Mountains Insurance Group, Ltd.'s combined ratio?

White Mountains Insurance Group, Ltd. (WTM) has a combined ratio of 50.9%. A ratio below 100% indicates underwriting profitability.

What if you invested $1,000 in WTM back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →