(WTM) White Mountains Insurance - Overview
Stock: Insurance, Reinsurance, Asset Capital, Distribution Platform
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 0.05% |
| Yield on Cost 5y | 0.09% |
| Yield CAGR 5y | 0.00% |
| Payout Consistency | 82.3% |
| Payout Ratio | 1.0% |
| Risk 5d forecast | |
|---|---|
| Volatility | 20.5% |
| Relative Tail Risk | -1.63% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.37 |
| Alpha | 4.14 |
| Character TTM | |
|---|---|
| Beta | 0.346 |
| Beta Downside | 0.413 |
| Drawdowns 3y | |
|---|---|
| Max DD | 18.05% |
| CAGR/Max DD | 0.72 |
Description: WTM White Mountains Insurance January 08, 2026
White Mountains Insurance Group Ltd. (WTM) operates four distinct businesses: Ark/WM Outrigger, which underwrites property, casualty, marine, energy, accident-and-health and reinsurance products; HG Global, which reinsures single-risk limits on small- to medium-sized, investment-grade municipal bonds financing public-purpose projects; Kudu, which supplies capital solutions and strategic support to boutique asset and wealth managers; and Bamboo, a tech-enabled platform that distributes homeowners’ insurance to the residential market. The company is incorporated in Bermuda and serves the U.S. insurance market.
Key recent metrics illustrate the group’s financial health: 2023 net income was $152 million, the combined ratio for the Ark/WM Outrigger segment improved to 94.5% (down from 96.2% in 2022), and book value per share rose to $25.8. The business is sensitive to interest-rate trends-higher yields boost investment income on the firm’s sizable fixed-income portfolio-while underwriting cycles and the frequency of natural-catastrophe events remain primary sector drivers.
For a deeper quantitative dive, consider reviewing ValueRay’s detailed valuation models and scenario analyses.
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income: 140.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -0.99 > 1.0 |
| NWC/Revenue: 2.10% < 20% (prev 28.64%; Δ -26.54% < -1%) |
| CFO/TA 0.05 > 3% & CFO 560.7m > Net Income 140.2m |
| Net Debt (436.8m) to EBITDA (381.1m): 1.15 < 3 |
| Current Ratio: 1.22 > 1.5 & < 3 |
| Outstanding Shares: last quarter (2.54m) vs 12m ago 0.33% < -2% |
| Gross Margin: 44.54% > 18% (prev 0.57%; Δ 4397 % > 0.5%) |
| Asset Turnover: 21.95% > 50% (prev 26.44%; Δ -4.49% > 0%) |
| Interest Coverage Ratio: 5.36 > 6 (EBITDA TTM 381.1m / Interest Expense TTM 70.4m) |
Altman Z'' 2.11
| A: 0.00 (Total Current Assets 289.9m - Total Current Liabilities 237.6m) / Total Assets 12.35b |
| B: 0.34 (Retained Earnings 4.18b / Total Assets 12.35b) |
| C: 0.03 (EBIT TTM 377.4m / Avg Total Assets 11.34b) |
| D: 0.72 (Book Value of Equity 4.77b / Total Liabilities 6.63b) |
| Altman-Z'' Score: 2.11 = BBB |
Beneish M -2.48
| DSRI: 1.22 (Receivables 2.52b/2.27b, Revenue 2.49b/2.73b) |
| GMI: 1.29 (GM 44.54% / 57.42%) |
| AQI: 1.34 (AQ_t 0.97 / AQ_t-1 0.73) |
| SGI: 0.91 (Revenue 2.49b / 2.73b) |
| TATA: -0.03 (NI 140.2m - CFO 560.7m) / TA 12.35b) |
| Beneish M-Score: -2.48 (Cap -4..+1) = BBB |
What is the price of WTM shares?
Over the past week, the price has changed by +3.63%, over one month by +3.09%, over three months by +12.08% and over the past year by +10.77%.
Is WTM a buy, sell or hold?
What are the forecasts/targets for the WTM price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 360 | -83.1% |
| Analysts Target Price | 360 | -83.1% |
| ValueRay Target Price | 2358.8 | 10.9% |
WTM Fundamental Data Overview February 03, 2026
P/S = 2.0897
P/B = 1.0674
P/EG = 9.93
Revenue TTM = 2.49b USD
EBIT TTM = 377.4m USD
EBITDA TTM = 381.1m USD
Long Term Debt = 765.8m USD (from longTermDebt, last quarter)
Short Term Debt = unknown (none)
Debt = 765.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 436.8m USD (from netDebt column, last quarter)
Enterprise Value = 4.55b USD (5.20b + Debt 765.8m - CCE 1.42b)
Interest Coverage Ratio = 5.36 (Ebit TTM 377.4m / Interest Expense TTM 70.4m)
EV/FCF = 8.12x (Enterprise Value 4.55b / FCF TTM 560.7m)
FCF Yield = 12.32% (FCF TTM 560.7m / Enterprise Value 4.55b)
FCF Margin = 22.53% (FCF TTM 560.7m / Revenue TTM 2.49b)
Net Margin = 5.63% (Net Income TTM 140.2m / Revenue TTM 2.49b)
Gross Margin = 44.54% ((Revenue TTM 2.49b - Cost of Revenue TTM 1.38b) / Revenue TTM)
Gross Margin QoQ = 54.03% (prev 58.53%)
Tobins Q-Ratio = 0.37 (Enterprise Value 4.55b / Total Assets 12.35b)
Interest Expense / Debt = 2.60% (Interest Expense 19.9m / Debt 765.8m)
Taxrate = 9.56% (17.1m / 178.8m)
NOPAT = 341.3m (EBIT 377.4m * (1 - 9.56%))
Current Ratio = 1.22 (Total Current Assets 289.9m / Total Current Liabilities 237.6m)
Debt / Equity = 0.16 (Debt 765.8m / totalStockholderEquity, last quarter 4.77b)
Debt / EBITDA = 1.15 (Net Debt 436.8m / EBITDA 381.1m)
Debt / FCF = 0.78 (Net Debt 436.8m / FCF TTM 560.7m)
Total Stockholder Equity = 4.60b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.24% (Net Income 140.2m / Total Assets 12.35b)
RoE = 3.05% (Net Income TTM 140.2m / Total Stockholder Equity 4.60b)
RoCE = 7.03% (EBIT 377.4m / Capital Employed (Equity 4.60b + L.T.Debt 765.8m))
RoIC = 6.50% (NOPAT 341.3m / Invested Capital 5.25b)
WACC = 6.57% (E(5.20b)/V(5.97b) * Re(7.19%) + D(765.8m)/V(5.97b) * Rd(2.60%) * (1-Tc(0.10)))
Discount Rate = 7.19% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -33.33 | Cagr: -0.38%
[DCF Debug] Terminal Value 86.07% ; FCFF base≈565.1m ; Y1≈697.1m ; Y5≈1.19b
Fair Price DCF = 11.2k (EV 28.15b - Net Debt 436.8m = Equity 27.71b / Shares 2.48m; r=6.57% [WACC]; 5y FCF grow 25.0% → 2.90% )
EPS Correlation: -4.73 | EPS CAGR: -4.33% | SUE: 0.0 | # QB: 0
Revenue Correlation: 60.74 | Revenue CAGR: 27.26% | SUE: 0.72 | # QB: 0