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WTMWhite Mountains Insurance Group, Ltd.
$2241.12$5.6B
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 · Reinsurers
$2241.12
At close - Nov 6, 4:00 PM EST - USD
Market Cap$5.55B
P/E5.4x
52W High$2378.94
Volume28.83K
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.

GrowthMixed
ProfitabilityStable
ValuationAttractive
TechnicalsNeutral
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

3/12 Beats

EPS beat 3 of last 12 quarters

02

Valuation risk

-57% Peers

P/E is 57% below peer median

03

Market leadership

RS 72 · Avg

Average momentum (RS Rating: 72)

04

Trend Check

N/A

Trend data unavailable

Next CatalystEstimated earnings · Feb 5

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
WTM+9.81%
S&P 500 (^GSPC)+7.63%
1-Year Return
WTM+18.50%
S&P 500 (^GSPC)+9.69%
3-Year Return
WTM+54.56%
S&P 500 (^GSPC)+64.95%
5-Year Return
WTM+102.60%
S&P 500 (^GSPC)+52.98%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
5.4x
Forward P/E
21.1x
EV/EBITDA33rd %ile
5.3x
FCF YieldCash Flow
6.9%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
5.4x
7.6x
50th· Fair
EV/EBITDA
5.3x
7.8x
33rd· Fair
Price/FCF
14.4x
9.4x
75th· Fair
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$3070.41+37.0%
Base (Fair)$6371.64+184.3%
Bull$10919.25+387.2%
$3070.41 Bear$6371.64 Base$10919.25 Bull
Current Market Price: $2241.12
Trades at a 64.8% discount to Base DCF ($6371.64)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$2.71B+15.0% YoY
Net income FY25
$1.11B+380.2% YoY
Free cash flow FY25
-$7M-101.2% YoY
Operating margin FY25
49.1%+35.6 pts YoY
ROIC (FY25)16.1%
Avg ROIC 5Y4.4%
ROE (TTM)19.2%
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 Rate3/12 (25%)
Revenue Beat Rate1/12 (17%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Nov 5, 2026
$38.15+1426.0%
vs $2.50
$641M+0.0%
vs $641M
Q3 2026
Aug 6, 2026
$80.58+7.4%
vs $75.00
$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
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
PRNewsWire·3d ago
WHITE MOUNTAINS REPORTS THIRD QUARTER RESULTS

HAMILTON, Bermuda, Nov. 5, 2026 /PRNewswire/ -- White Mountains Insurance Group, Ltd. (NYSE: WTM) reported book value per share of $2,243 as of September 30, 2026, a decrease of 1% for the third quarter of 2026 and an increase of 3% for the first nine months of 2026, including dividends.

PRNewsWire·Oct 13, 2026
Aviat Launches WTM 4400 'Quad' Delivering More Capacity, Longer Reach and Lower Network Costs

Four Carriers in One All-Outdoor Radio, a New Benchmark in Microwave Transport AUSTIN, Texas, Oct. 13, 2026 /PRNewswire/ -- Aviat Networks, Inc. (NASDAQ: AVNW), the expert in wireless transport and access solutions, today announced the WTM 4400, also known as the 'Quad', which is the only solution on the market to support 4 independent microwave channels in one all-outdoor radio unit. The Highest Capacity in One box Aviat's Quad supports the highest capacity microwave links in a single all-outdoor unit, up to 5 Gbit/s in 4x 112 MHz channels (ETSI) or 3 Gbit/s in 4x 80 MHz channels (ANSI), without external combining, antenna mediation devices, or indoor units.

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).

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
$2241.12$5.55B5.4214.99%37.82%19.15%0.05%
MKL logoMKLMarkel Corporation
$1939.04$24.02B13.46-0.96%10.47%9.53%2.5%
ACGL logoACGLArch Capital Group Ltd.
$107.28$37.48B8.3714.27%23.19%18.35%0.02%
RNR logoRNRRenaissanceRe Holdings Ltd.
$347.35$14.43B8.949.45%17.07%8.26%0.48%
ERIE logoERIEErie Indemnity Company
$273.07$12.61B24.797.17%13.97%23.86%1.77%
HCI logoHCIHCI Group, Inc.
$186.03$2.37B7.1220.21%33.48%28.01%0.8%

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 3.5% over the trailing twelve months, compared with the twelve months before.

Is WTM profitable?

Yes. White Mountains Insurance Group, Ltd. (WTM) earned $974.6M in net income over the trailing twelve months (a 37.8% net margin).

Dividend & Returns
Does WTM pay dividends?

White Mountains Insurance Group, Ltd. (WTM) does not currently pay a meaningful dividend.

What is WTM's return on equity?

White Mountains Insurance Group, Ltd. (WTM) had a return on equity (ROE) of 19.2% over the trailing twelve months. That is above the market's typical 10-15%.

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 →