Last 48 quarters of trend data · Financial Services · Insurance - Property & Casualty
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 4.72 | 6.43 | — | 1.59 | 9.46 | 9.41 | 36.50 | — | 6.08 | — | 4.86 | 3.36 | 40.47 | 45.45 | 4.93 | 17.96 | — | — | 25.59 | 23.32 | — |
| — | -31.6% | — | — | +55.4% | — | +651.3% | — | -85.0% | — | -1.5% | -81.3% | — | — | -80.7% | -23.0% | — | — | — | +1370.0% | — | |
| P/S Ratio | 1.86 | 1.48 | 2.72 | 2.30 | 1.23 | 1.66 | 2.12 | 3.49 | 1.13 | 2.91 | 1.75 | 1.31 | 1.82 | 2.32 | 1.64 | 2.08 | 2.43 | 11.94 | 3.25 | 2.19 | — |
| — | -10.7% | +28.6% | -34.0% | +9.1% | -43.1% | +20.7% | +166.7% | -38.0% | +25.6% | +6.7% | -37.1% | -25.2% | -80.6% | -49.4% | -4.8% | — | +358.5% | -32.3% | +46.7% | — | |
| P/B Ratio | 0.83 | 3.09 | 0.91 | 0.85 | 0.74 | 0.85 | 0.95 | 0.97 | 0.82 | 0.94 | 0.93 | 0.84 | 0.91 | 0.85 | 0.85 | 0.93 | 0.96 | 1.05 | 0.92 | 0.83 | 0.89 |
| — | +261.7% | -4.6% | -12.8% | -9.0% | -9.5% | +2.5% | +15.2% | -9.9% | +11.1% | +8.7% | -8.7% | -5.8% | -19.0% | -7.3% | +12.1% | +7.7% | +20.8% | +6.1% | +1.6% | +24.1% | |
| P/FCF | — | — | 38.12 | 24.62 | 2.96 | 6.43 | — | 19.48 | 3.99 | 4.77 | 31.11 | 39.33 | 4.23 | 12.33 | 10.21 | 3.43 | 7.63 | 18.47 | — | — | 11.06 |
| — | — | — | +26.4% | -25.9% | +34.9% | — | -50.5% | -5.8% | -61.4% | +204.6% | +1045.6% | -44.5% | -33.2% | — | — | -31.0% | +120.9% | — | — | -5.1% | |
| EV / EBITDA | 4.27 | 4.63 | — | 1.64 | 6.47 | 7.14 | 17.88 | — | 4.95 | — | 5.35 | 3.35 | 66.07 | 65.74 | 4.89 | 7.84 | — | — | — | 15.47 | — |
| — | -35.2% | — | — | +30.5% | — | +234.4% | — | -92.5% | — | +9.3% | -57.2% | — | — | — | -49.3% | — | — | — | +606.7% | — | |
| EV / EBIT | 4.28 | 4.79 | — | 1.61 | 5.89 | 6.43 | 14.57 | — | 4.58 | — | 4.98 | 3.11 | 28.37 | 31.00 | 4.50 | 6.99 | — | — | — | 18.49 | — |
| — | -25.6% | — | — | +28.7% | — | +192.9% | — | -83.9% | — | +10.6% | -55.5% | — | — | — | -62.2% | — | — | — | +727.2% | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 53.7% | 100.0% | 59.8% | 66.1% | 54.0% | 58.5% | 35.2% | 9.8% | 56.0% | 34.3% | 58.8% | 70.4% | 31.1% | 39.1% | 60.5% | 66.5% | 24.3% | -128.8% | 24.9% | 59.5% | 323.3% |
| — | +70.8% | +70.0% | +574.0% | -3.6% | +70.7% | -40.1% | -86.1% | +80.4% | -12.4% | -2.8% | +5.8% | +28.0% | +130.4% | +142.6% | +11.8% | -92.5% | -289.6% | -18.8% | -38.0% | +237.0% | |
| Operating Margin | 49.1% | 30.3% | -4.9% | 156.4% | 20.7% | 25.6% | 12.5% | -33.7% | 25.1% | -8.8% | 35.9% | 44.5% | 4.1% | 4.6% | 37.4% | 29.5% | -8.1% | -303.3% | -11.9% | 10.5% | 390.3% |
| — | +18.4% | -139.5% | +563.9% | -17.6% | +391.8% | -65.1% | -175.8% | +518.5% | -289.8% | -4.0% | +50.9% | +150.2% | +101.5% | +413.4% | +181.1% | -102.1% | -743.3% | +84.7% | -84.7% | +458.3% | |
| Net Margin | 40.9% | 23.6% | -6.0% | 145.1% | 13.2% | 17.8% | 5.9% | -36.4% | 18.8% | -13.8% | 36.5% | 38.9% | 4.5% | 5.2% | 33.7% | 9.2% | 231.8% | -220.6% | 12.8% | 9.4% | 401.9% |
| — | +32.5% | -202.8% | +498.3% | -29.8% | +229.1% | -83.9% | -193.7% | +313.3% | -366.7% | +8.2% | +321.2% | -98.0% | +102.3% | +163.1% | -1.5% | -42.3% | -645.4% | +130.4% | -90.0% | +693.0% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 19.4% | 5.1% | -0.5% | 14.0% | 2.1% | 2.3% | 0.7% | -2.5% | 3.5% | -1.1% | 5.0% | 6.6% | 0.6% | 0.5% | 4.5% | 1.0% | 24.1% | -4.7% | 0.9% | 0.9% | -9.6% |
| — | +118.4% | -175.8% | +656.3% | -41.7% | +309.7% | -86.8% | -138.2% | +520.5% | -334.5% | +11.9% | +534.0% | -97.6% | +110.1% | +393.7% | +16.2% | +352.3% | -237.2% | +146.6% | -93.5% | -230.9% | |
| ROA | 10.0% | 1.9% | -0.2% | 6.8% | 0.9% | 1.1% | 0.3% | -1.3% | 1.7% | -0.6% | 2.6% | 3.5% | 0.3% | 0.2% | 2.3% | 0.5% | 11.7% | -2.3% | 0.5% | 0.5% | -5.2% |
| — | +79.5% | -175.4% | +626.8% | -46.1% | +294.8% | -87.7% | -137.1% | +511.1% | -330.3% | +12.4% | +540.8% | -97.6% | +110.7% | +402.7% | +16.4% | +326.4% | -215.4% | +136.2% | -95.6% | -192.9% | |
| ROIC | 16.1% | 4.6% | -0.3% | 10.3% | 2.2% | 2.3% | 1.0% | -1.6% | 3.3% | -0.5% | 3.4% | 5.1% | 0.3% | 0.3% | 3.4% | 2.3% | -0.6% | -4.5% | -0.6% | 0.7% | -6.5% |
| — | +95.2% | -128.0% | +734.2% | -32.5% | +569.3% | -70.8% | -131.8% | +856.4% | -270.8% | -1.2% | +125.5% | +159.5% | +106.5% | +705.4% | +241.5% | +91.1% | -250.2% | +78.6% | -90.7% | -190.4% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.13 | — | 0.14 | 0.13 | 0.13 | 0.13 | 0.13 | 0.11 | 0.10 | 0.11 | 0.11 | 0.12 | 0.14 | 0.14 | 0.14 | 0.15 | 0.16 | 0.18 | 0.19 | 0.17 | 0.19 |
| — | — | +2.8% | +22.1% | +29.3% | +19.5% | +20.9% | -11.4% | -23.6% | -20.7% | -20.0% | -15.3% | -14.8% | -22.5% | -27.8% | -15.3% | -18.1% | +69.6% | +72.5% | +75.0% | +79.0% | |
| Debt / EBITDA | 0.63 | — | — | 0.92 | 4.23 | 3.95 | 9.20 | — | 2.30 | — | 2.31 | 1.76 | 35.74 | 37.99 | 2.83 | 4.55 | — | — | — | 11.13 | — |
| — | — | — | — | +83.8% | — | +298.5% | — | -93.6% | — | -18.4% | -61.3% | — | — | — | -59.1% | — | — | — | +1004.8% | — | |
| Current Ratio | 1.14 | — | 1.02 | — | — | — | 1.09 | 12.82 | 0.72 | — | — | — | — | — | — | — | — | — | 1.79 | — | — |
| — | — | -6.4% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Quick Ratio | 1.14 | — | 1.02 | — | — | — | 1.09 | 12.82 | 0.72 | — | — | — | — | — | — | — | — | — | 1.79 | — | — |
| — | — | -6.4% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Interest Coverage | 23.93 | — | -0.32 | 369.24 | 9.98 | 10.49 | 5.07 | -7.56 | 15.34 | -1.34 | 16.30 | 19.42 | 2.34 | 2.23 | 14.27 | 11.08 | -1.95 | -22.03 | -1.14 | 4.25 | -80.95 |
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Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying WTM stock.
White Mountains Insurance Group, Ltd.'s current P/E is 4.7x. The average P/E over the last 3 quarters is 5.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
White Mountains Insurance Group, Ltd.'s current operating margin is 49.1%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking White Mountains Insurance Group, Ltd.'s business trajectory between earnings reports.