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WHITE MOUNTAINS INSURANCE GP (WTM) Stock Fundamental Analysis

NYSE:WTM - New York Stock Exchange, Inc. - BMG9618E1075 - Common Stock - Currency: USD

1816.02  +4.52 (+0.25%)

Fundamental Rating

4

WTM gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 143 industry peers in the Insurance industry. There are concerns on the financial health of WTM while its profitability can be described as average. WTM is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year WTM was profitable.
In the past year WTM had a positive cash flow from operations.
WTM had positive earnings in 4 of the past 5 years.
WTM had a positive operating cash flow in 4 of the past 5 years.
WTM Yearly Net Income VS EBIT VS OCF VS FCFWTM Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M 600M

1.2 Ratios

WTM has a Return On Assets (2.29%) which is comparable to the rest of the industry.
Looking at the Return On Equity, with a value of 5.07%, WTM is doing worse than 76.92% of the companies in the same industry.
WTM has a better Return On Invested Capital (4.49%) than 79.72% of its industry peers.
Industry RankSector Rank
ROA 2.29%
ROE 5.07%
ROIC 4.49%
ROA(3y)6.34%
ROA(5y)5.96%
ROE(3y)12.7%
ROE(5y)9.72%
ROIC(3y)N/A
ROIC(5y)N/A
WTM Yearly ROA, ROE, ROICWTM Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 15 20

1.3 Margins

The Profit Margin of WTM (9.66%) is better than 62.94% of its industry peers.
In the last couple of years the Profit Margin of WTM has declined.
WTM has a better Operating Margin (20.90%) than 81.12% of its industry peers.
WTM's Operating Margin has declined in the last couple of years.
Industry RankSector Rank
OM 20.9%
PM (TTM) 9.66%
GM N/A
OM growth 3YN/A
OM growth 5Y-15.24%
PM growth 3YN/A
PM growth 5Y-26.94%
GM growth 3YN/A
GM growth 5YN/A
WTM Yearly Profit, Operating, Gross MarginsWTM Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100 200

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3

2. Health

2.1 Basic Checks

WTM has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, WTM has less shares outstanding
WTM has a better debt/assets ratio than last year.
WTM Yearly Shares OutstandingWTM Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1M 2M 3M 4M 5M
WTM Yearly Total Debt VS Total AssetsWTM Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.2 Solvency

The Debt to FCF ratio of WTM is 0.96, which is an excellent value as it means it would take WTM, only 0.96 years of fcf income to pay off all of its debts.
WTM has a Debt to FCF ratio of 0.96. This is in the better half of the industry: WTM outperforms 65.03% of its industry peers.
A Debt/Equity ratio of 0.13 indicates that WTM is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.13, WTM is in the better half of the industry, outperforming 79.02% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.13
Debt/FCF 0.96
Altman-Z N/A
ROIC/WACCN/A
WACCN/A
WTM Yearly LT Debt VS Equity VS FCFWTM Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B 4B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
WTM Yearly Current Assets VS Current LiabilitesWTM Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M

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5

3. Growth

3.1 Past

The earnings per share for WTM have decreased strongly by -95.09% in the last year.
WTM shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 20.28% yearly.
The Revenue has grown by 8.66% in the past year. This is quite good.
WTM shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 21.38% yearly.
EPS 1Y (TTM)-95.09%
EPS 3YN/A
EPS 5Y20.28%
EPS Q2Q%-85.71%
Revenue 1Y (TTM)8.66%
Revenue growth 3Y56.48%
Revenue growth 5Y21.38%
Sales Q2Q%-27.05%

3.2 Future

The Earnings Per Share is expected to grow by 13.61% on average over the next years. This is quite good.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next Y23.46%
EPS Next 2Y13.61%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
WTM Yearly Revenue VS EstimatesWTM Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B
WTM Yearly EPS VS EstimatesWTM Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 100 -100 200 300

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2

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 167.38, WTM can be considered very expensive at the moment.
Based on the Price/Earnings ratio, WTM is valued more expensive than 85.31% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 26.70. WTM is valued rather expensively when compared to this.
WTM is valuated correctly with a Price/Forward Earnings ratio of 15.64.
WTM's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. WTM is more expensive than 61.54% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of WTM to the average of the S&P500 Index (22.49), we can say WTM is valued slightly cheaper.
Industry RankSector Rank
PE 167.38
Fwd PE 15.64
WTM Price Earnings VS Forward Price EarningsWTM Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 50 100 150

4.2 Price Multiples

WTM's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 7.95
EV/EBITDA N/A
WTM Per share dataWTM EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 500 1K 1.5K

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
WTM's earnings are expected to grow with 13.61% in the coming years. This may justify a more expensive valuation.
PEG (NY)7.14
PEG (5Y)8.25
EPS Next 2Y13.61%
EPS Next 3YN/A

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3

5. Dividend

5.1 Amount

WTM has a yearly dividend return of 0.06%, which is pretty low.
WTM's Dividend Yield is slightly below the industry average, which is at 3.17.
Compared to an average S&P500 Dividend Yield of 2.36, WTM's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.06%

5.2 History

The dividend of WTM decreases each year by -1.78%.
WTM has paid a dividend for at least 10 years, which is a reliable track record.
As WTM did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)-1.78%
Div Incr Years0
Div Non Decr Years6
WTM Yearly Dividends per shareWTM Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6

5.3 Sustainability

WTM pays out 1.10% of its income as dividend. This is a sustainable payout ratio.
DP1.1%
EPS Next 2Y13.61%
EPS Next 3YN/A
WTM Yearly Income VS Free CF VS DividendWTM Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M 600M
WTM Dividend Payout.WTM Dividend Payout, showing the Payout Ratio.WTM Dividend Payout.PayoutRetained Earnings

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WHITE MOUNTAINS INSURANCE GP

NYSE:WTM (5/19/2025, 8:20:39 PM)

1816.02

+4.52 (+0.25%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)05-07 2025-05-07/bmo
Earnings (Next)08-05 2025-08-05
Inst Owners90.05%
Inst Owner Change6.43%
Ins Owners2.21%
Ins Owner Change1.43%
Market Cap4.67B
Analysts45
Price TargetN/A
Short Float %2.14%
Short Ratio3.22
Dividend
Industry RankSector Rank
Dividend Yield 0.06%
Yearly Dividend0.97
Dividend Growth(5Y)-1.78%
DP1.1%
Div Incr Years0
Div Non Decr Years6
Ex-Date03-17 2025-03-17 (1)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-41.33%
Min EPS beat(2)-52.36%
Max EPS beat(2)-30.31%
EPS beat(4)1
Avg EPS beat(4)-19.12%
Min EPS beat(4)-52.36%
Max EPS beat(4)19.12%
EPS beat(8)3
Avg EPS beat(8)17.46%
EPS beat(12)5
Avg EPS beat(12)41.9%
EPS beat(16)9
Avg EPS beat(16)98.44%
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)-800%
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 167.38
Fwd PE 15.64
P/S 1.98
P/FCF 7.95
P/OCF 7.95
P/B 1.04
P/tB 1.24
EV/EBITDA N/A
EPS(TTM)10.85
EY0.6%
EPS(NY)116.15
Fwd EY6.4%
FCF(TTM)228.33
FCFY12.57%
OCF(TTM)228.33
OCFY12.57%
SpS916.07
BVpS1744.63
TBVpS1464.36
PEG (NY)7.14
PEG (5Y)8.25
Profitability
Industry RankSector Rank
ROA 2.29%
ROE 5.07%
ROCE 5.01%
ROIC 4.49%
ROICexc 4.58%
ROICexgc 5.56%
OM 20.9%
PM (TTM) 9.66%
GM N/A
FCFM 24.92%
ROA(3y)6.34%
ROA(5y)5.96%
ROE(3y)12.7%
ROE(5y)9.72%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5Y-15.48%
ROICexc growth 3YN/A
ROICexc growth 5Y-14.94%
OM growth 3YN/A
OM growth 5Y-15.24%
PM growth 3YN/A
PM growth 5Y-26.94%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.24
Health
Industry RankSector Rank
Debt/Equity 0.13
Debt/FCF 0.96
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 8.07
Cash Conversion N/A
Profit Quality 257.93%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score5
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)126.98%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-95.09%
EPS 3YN/A
EPS 5Y20.28%
EPS Q2Q%-85.71%
EPS Next Y23.46%
EPS Next 2Y13.61%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)8.66%
Revenue growth 3Y56.48%
Revenue growth 5Y21.38%
Sales Q2Q%-27.05%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-21.67%
EBIT growth 3YN/A
EBIT growth 5Y2.88%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y45.21%
FCF growth 3Y121.77%
FCF growth 5YN/A
OCF growth 1Y45.21%
OCF growth 3Y121.77%
OCF growth 5YN/A