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WHITE MOUNTAINS INSURANCE GP (WTM) Stock Fundamental Analysis

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

1751.62  +1.27 (+0.07%)

Fundamental Rating

3

Taking everything into account, WTM scores 3 out of 10 in our fundamental rating. WTM was compared to 143 industry peers in the Insurance industry. Both the profitability and financial health of WTM have multiple concerns. While showing a medium growth rate, WTM is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year WTM was profitable.
WTM had a positive operating cash flow in the past year.
WTM had positive earnings in 4 of the past 5 years.
Of the past 5 years WTM 4 years had a positive operating cash flow.
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

Looking at the Return On Assets, with a value of 0.25%, WTM is doing worse than 74.83% of the companies in the same industry.
Looking at the Return On Equity, with a value of 0.61%, WTM is doing worse than 79.02% of the companies in the same industry.
The Return On Invested Capital of WTM (2.74%) is comparable to the rest of the industry.
Industry RankSector Rank
ROA 0.25%
ROE 0.61%
ROIC 2.74%
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 (1.20%) is worse than 79.72% of its industry peers.
WTM's Profit Margin has declined in the last couple of years.
With a decent Operating Margin value of 14.64%, WTM is doing good in the industry, outperforming 72.03% of the companies in the same industry.
In the last couple of years the Operating Margin of WTM has declined.
Industry RankSector Rank
OM 14.64%
PM (TTM) 1.2%
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

Compared to 1 year ago, WTM has more shares outstanding
The number of shares outstanding for WTM has been reduced compared to 5 years ago.
Compared to 1 year ago, WTM has an improved debt to assets ratio.
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

WTM has a debt to FCF ratio of 1.33. This is a very positive value and a sign of high solvency as it would only need 1.33 years to pay back of all of its debts.
WTM has a Debt to FCF ratio (1.33) which is in line with its industry peers.
WTM has a Debt/Equity ratio of 0.15. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.15, WTM is in the better half of the industry, outperforming 73.43% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF 1.33
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

WTM shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -95.09%.
WTM shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 20.28% yearly.
Looking at the last year, WTM shows a small growth in Revenue. The Revenue has grown by 0.12% in the last year.
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)0.12%
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 Y66.11%
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

WTM is valuated quite expensively with a Price/Earnings ratio of 161.44.
Based on the Price/Earnings ratio, WTM is valued more expensive than 82.52% of the companies in the same industry.
WTM is valuated expensively when we compare the Price/Earnings ratio to 26.48, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 15.08, WTM is valued correctly.
Based on the Price/Forward Earnings ratio, WTM is valued a bit more expensive than the industry average as 62.24% of the companies are valued more cheaply.
When comparing the Price/Forward Earnings ratio of WTM to the average of the S&P500 Index (34.04), we can say WTM is valued rather cheaply.
Industry RankSector Rank
PE 161.44
Fwd PE 15.08
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 8.83
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 WTM does not grow enough to justify the current Price/Earnings ratio.
A more expensive valuation may be justified as WTM's earnings are expected to grow with 13.61% in the coming years.
PEG (NY)2.44
PEG (5Y)7.96
EPS Next 2Y13.61%
EPS Next 3YN/A

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3

5. Dividend

5.1 Amount

With a yearly dividend of 0.06%, WTM is not a good candidate for dividend investing.
WTM's Dividend Yield is slightly below the industry average, which is at 3.35.
With a Dividend Yield of 0.06, WTM pays less dividend than the S&P500 average, which is at 2.40.
Industry RankSector Rank
Dividend Yield 0.06%

5.2 History

The dividend of WTM decreases each year by -1.78%.
WTM has been paying a dividend for at least 10 years, so it has 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 Years7
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 9.49% of its income as dividend. This is a sustainable payout ratio.
DP9.49%
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 (8/8/2025, 8:12:35 PM)

1751.62

+1.27 (+0.07%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)05-07 2025-05-07/bmo
Earnings (Next)08-11 2025-08-11
Inst Owners92.08%
Inst Owner Change-6.31%
Ins Owners2.42%
Ins Owner Change3.49%
Market Cap4.50B
Analysts45
Price TargetN/A
Short Float %2.43%
Short Ratio2.61
Dividend
Industry RankSector Rank
Dividend Yield 0.06%
Yearly Dividend0.97
Dividend Growth(5Y)-1.78%
DP9.49%
Div Incr Years0
Div Non Decr Years7
Ex-Date03-17 2025-03-17 (1)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)70.46%
Min EPS beat(2)-52.36%
Max EPS beat(2)193.28%
EPS beat(4)2
Avg EPS beat(4)32.43%
Min EPS beat(4)-52.36%
Max EPS beat(4)193.28%
EPS beat(8)4
Avg EPS beat(8)42.75%
EPS beat(12)5
Avg EPS beat(12)23.51%
EPS beat(16)9
Avg EPS beat(16)109.64%
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)208.11%
EPS NQ rev (3m)N/A
EPS NY rev (1m)34.55%
EPS NY rev (3m)34.55%
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 161.44
Fwd PE 15.08
P/S 1.97
P/FCF 8.83
P/OCF 8.83
P/B 1
P/tB 1.19
EV/EBITDA N/A
EPS(TTM)10.85
EY0.62%
EPS(NY)116.15
Fwd EY6.63%
FCF(TTM)198.48
FCFY11.33%
OCF(TTM)198.48
OCFY11.33%
SpS889.03
BVpS1754.71
TBVpS1476.46
PEG (NY)2.44
PEG (5Y)7.96
Profitability
Industry RankSector Rank
ROA 0.25%
ROE 0.61%
ROCE 3.05%
ROIC 2.74%
ROICexc 2.8%
ROICexgc 3.45%
OM 14.64%
PM (TTM) 1.2%
GM N/A
FCFM 22.33%
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-Score4
Asset Turnover0.21
Health
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF 1.33
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 5.55
Cash Conversion N/A
Profit Quality 1861.68%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score4
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 Y66.11%
EPS Next 2Y13.61%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)0.12%
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-49.47%
EBIT growth 3YN/A
EBIT growth 5Y2.88%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y9.98%
FCF growth 3Y121.77%
FCF growth 5YN/A
OCF growth 1Y9.98%
OCF growth 3Y121.77%
OCF growth 5YN/A