White Mountains Insurance Group, Ltd. provides insurance services in the United States, the United Kingdom, Bermuda, and internationally. It operates through Ark/WM ...
White Mountains Insurance Group, Ltd. (NYSE: WTM) is a Bermuda-based holding company that owns and manages a diverse portfolio of insurance and related financial services businesses. Founded in 1980 by Jack Byrne, the company has evolved over four decades, emphasizing long-term value creation through disciplined capital allocation and operational excellence. ...White Mountains Insurance Group, Ltd. (NYSE: WTM) is a Bermuda-based holding company that owns and manages a diverse portfolio of insurance and related financial services businesses. Founded in 1980 by Jack Byrne, the company has evolved over four decades, emphasizing long-term value creation through disciplined capital allocation and operational excellence. The company operates through several key segments: Ark/WM Outrigger, HG Global, Kudu, Distinguished, and Other Operations. Ark/WM Outrigger provides property and specialty insurance and reinsurance, covering risks such as aviation, cyber, marine, energy, casualty, and accident and health, with distribution via brokers and managing general agents. HG Global focuses on municipal bond guarantee reinsurance for small-to-medium-sized public investment grade bonds, supporting public projects like schools and infrastructure. Kudu offers capital solutions to boutique asset and wealth managers, facilitating succession planning and growth financing. Distinguished operates as a managing general agent for real estate and hospitality insurance, while Other Operations includes specialty electrical contracting and MGA services for travel and expatriate medical insurance. Financially, WTM reported a market cap of approximately $5.32 billion as of the latest data, with a price-to-earnings ratio of 4.89 and a price-to-book ratio of 0.96. The company generates strong free cash flow, with an operating cash flow per share of $176.52, and maintains a conservative balance sheet with zero debt. Revenue per share stands at $1,163.11, and net margin is around 40%. The company has a dividend yield of 0.0% but pays a nominal dividend of $1 per share. With 1,648 full-time employees, WTM fosters a pragmatic, M&A-driven culture, led by an experienced executive team. In 2026, Liam Caffrey is slated to become CEO, succeeding the current leadership. The company's strategy focuses on owning businesses that can benefit from permanent capital, long-term support, and active management, aiming to generate superior returns over time.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$2.7B
+15.0%
+63.9%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$1.1B
+380.2%
+741.5%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+53.7%
+17.9%
+32.4%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+49.1%
+264.8%
+712.6%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+40.9%
+317.6%
+491.4%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-7.2M
-101.2%
-167.9%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-0.3%
-101.1%
-141.5%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
15.4%
+23.0%
+11.4%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.14x
-91.1%
—
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.