WHITE MOUNTAINS INSURANCE GROUP LTD · Property and casualty insurance

WTM

Low riskNext report: Around Nov 5 (est.)

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The short version

A high-quality, profitable business with growing sales.

Going well

Sales up 23% in the latest quarter vs a year ago
Profitable, keeps 30% of sales as profit
Sales up 67% last year

Money moves

No insider buying or selling in the last 30 days

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$2,229.34+0.2% that day

Company value: $5.3B; Share price times all shares
Price vs profit (P/E): 5.1x; You pay about $5 for each $1 of yearly profit
Price vs sales: 1.4x; Company value is 1.4 times a year of sales
Dividend yield: 0.0%; Yearly dividend as a share of today's price
Cash vs value: 2%; Cash as a share of company value
Debt vs value: 16%; Debt as a share of company value

From WTM's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$844.6M+23% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $3.8B, up 55% from the 12 months before. Over 5 years, sales grew about 33% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of WTM. Starting points are the company's recent numbers.

Sales growth+30% a yearRecently: +55% a yearProfit margin29%Last 12 months: 29.3%P/E at the end8xToday: 5.1x. Many steady companies trade at 12x to 25xShare count change-3% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$14.2B

Profit in 5 years$4.1B

Price these guesses point to$16,098.62+622% vs $2,229.34 todayAbout +48% a year, before dividends

What today's price needs: with a 29% margin and a 8x P/E, sales could shrink about 12% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

5/6Strong

PassReturn on equity 15%+Earns a lot on the money owners have in the business.22.3%
PassDebt under half of equityNot relying on borrowed money.0.15x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.29.6%
MissProfitable every yearSteady profits, not one good year.8 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$550.5M
PassShare count not growingNot diluting owners. Falling means buybacks.-10.3% in 3 years

Revenue: $3.7B; +66.8% vs prior year
5-year growth: +33.1%/yr; revenue, per year
Total debt: $837.0M; 0.15x equity
Free cash flow: $550.5M; 14.7% of revenue

From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. A checklist is a starting point for research, not a verdict.