White Mountains Insurance Group (WTM)
NYSE:WTM
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White Mountains Insurance Group
(NYSE:WTM)
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Rating:75Outperform
Price Target:
$2,267.00
▲(11.73% Upside)
Action:Upgraded
Date:06/06/26
The score is driven mainly by solid underlying financial performance (strong profitability/ROE and modest leverage) and very attractive valuation (low P/E and high dividend yield). These positives are tempered by weak technicals (below key moving averages with negative MACD) and fundamental variability from inconsistent cash flow conversion and volatile revenue trends.
Positive Factors
Strong Profitability and ROE
Recent high profitability and roughly 20% ROE indicate the company reliably generates internal capital from underwriting and investments. Sustained margins bolster the ability to fund claims, support dividends, and finance strategic initiatives, improving resilience through insurance cycles over months.
Negative Factors
Volatile and Recently Negative Revenue Growth
Top-line volatility and a recent turn to negative revenue growth reduce predictability of underwriting and fee income. Inconsistent premium or fee flows complicate forecasting and raise execution risk for maintaining recent earnings levels and investment plans over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Profitability and ROE
Recent high profitability and roughly 20% ROE indicate the company reliably generates internal capital from underwriting and investments. Sustained margins bolster the ability to fund claims, support dividends, and finance strategic initiatives, improving resilience through insurance cycles over months.
Read all positive factors
White Mountains Insurance Group (WTM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.11B
Dividend Yield0.05%
Average Volume (3M)19.77K
Price to Earnings (P/E)5.1
Beta (1Y)0.27
Revenue Growth30.09%
EPS Growth3444.41%
CountryUS
Employees893
SectorFinancial
Sector Strength70
IndustryInsurance - Property & Casualty
Share Statistics
EPS (TTM)406.56
Shares Outstanding2,476,670
10 Day Avg. Volume22,997
30 Day Avg. Volume19,775
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)0.98
Price to Sales (P/S)1.96
P/FCF Ratio-737.17
Enterprise Value/Market Cap1.14
Enterprise Value/Revenue2.20
Enterprise Value/Gross Profit3.73
Enterprise Value/Ebitda4.41
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)115
Revenue Forecast (FY)N/A
White Mountains Insurance Group Business Overview & Revenue Model
Company Description
White Mountains Insurance Group, Ltd., through its subsidiaries, provides insurance and other financial services in the United States. The company operates through five segments: HG Global/BAM, Ark, NSM, Kudu, and Other Operations. The HG Global/B...
How the Company Makes Money
White Mountains makes money primarily through (1) underwriting income from its insurance and reinsurance operations and (2) investment income and gains on the assets it holds at the parent company and within its regulated insurance subsidiaries. U...
White Mountains Insurance Group Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.64B | 2.71B | 2.35B | 2.17B | 1.16B | 614.40M |
| Gross Profit | 1.56B | 1.45B | 1.07B | 1.15B | 370.90M | 33.10M |
| EBITDA | 1.32B | 1.41B | 371.10M | 610.30M | -104.80M | -231.50M |
| Net Income | 1.04B | 1.11B | 230.40M | 509.20M | 792.80M | -275.40M |
Balance Sheet | ||||||
| Total Assets | 7.13B | 12.31B | 9.93B | 8.39B | 7.39B | 7.00B |
| Cash, Cash Equivalents and Short-Term Investments | 2.82B | 3.15B | 1.22B | 1.61B | 1.18B | 605.80M |
| Total Debt | 834.80M | 837.00M | 562.50M | 564.60M | 575.20M | 639.10M |
| Total Liabilities | 5.81B | 6.05B | 4.79B | 3.82B | 3.45B | 3.30B |
| Stockholders Equity | 5.37B | 5.43B | 4.48B | 4.24B | 3.75B | 3.55B |
Cash Flow | ||||||
| Free Cash Flow | 635.00M | -7.20M | 586.80M | 404.10M | 434.00M | 98.20M |
| Operating Cash Flow | 635.00M | -7.20M | 586.80M | 404.10M | 434.00M | 98.20M |
| Investing Cash Flow | -782.30M | 212.70M | -447.00M | -543.90M | 155.70M | -204.00M |
| Financing Cash Flow | -27.70M | -205.20M | 4.20M | 7.20M | -461.80M | 149.20M |
White Mountains Insurance Group Technical Analysis
Neutral
2029.06
Price Trends
2179.53
Negative
2163.85
Negative
2036.67
Positive
Market Momentum
-37.85
Positive
39.50
Neutral
16.39
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WTM, the sentiment is Neutral. The current price of 2029.06 is below the 20-day moving average (MA) of 2103.08, below the 50-day MA of 2179.53, and below the 200-day MA of 2036.67, indicating a neutral trend. The MACD of -37.85 indicates Positive momentum. The RSI at 39.50 is Neutral, neither overbought nor oversold. The STOCH value of 16.39 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for WTM.
White Mountains Insurance Group Risk Analysis
White Mountains Insurance Group disclosed 19 risk factors in its most recent earnings report. White Mountains Insurance Group reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
White Mountains Insurance Group Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $5.30B | 11.80 | 12.93% | 1.85% | 8.76% | 99.32% | |
78 Outperform | $5.62B | 6.69 | 36.48% | 1.34% | 9.70% | 193.37% | |
75 Outperform | $5.11B | 5.07 | 20.61% | 0.05% | 30.09% | 3444.41% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
61 Neutral | $3.59B | 29.20 | 14.47% | ― | 13.84% | 27.24% | |
57 Neutral | $1.46B | 34.73 | 1.52% | 3.15% | 0.51% | -88.36% | |
53 Neutral | $3.95B | -28.27 | -26.52% | ― | 57.13% | 38.73% |
* Financial Sector Average
WTM
White Mountains Insurance Group
2,065.14
278.85
15.61%
MCY
Mercury General
101.47
36.89
57.12%
SIGI
Selective Insurance Group
88.59
4.16
4.92%
KMPR
Kemper
24.75
-36.09
-59.32%
LMND
Lemonade
51.46
10.50
25.63%
HGTY
Hagerty Inc Class A
10.45
0.66
6.74%
White Mountains Insurance Group Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A TransactionsShareholder Meetings
White Mountains Highlights 2026 Investor Presentation and Strategy
Positive
Jun 5, 2026
White Mountains Insurance Group used its 2026 Annual Investor Presentation to highlight a strong 2025, when book value per share rose 25% to $2,188, supported by good operating results, solid though benchmark-lagging investment performance, and ov...
Executive/Board ChangesShareholder Meetings
White Mountains Shareholders Approve Governance Changes at AGM
Positive
May 21, 2026
At its 2026 Annual General Meeting held on May 21, 2026 in Hamilton Parish, Bermuda, White Mountains Insurance Group, Ltd. reported that director Steven M. Yi did not stand for re-election and concluded his service on the board at the end of his t...
Business Operations and StrategyPrivate Placements and Financing
White Mountains Issues New Notes, Refinances Debt, Returns Capital
Positive
May 15, 2026
On May 15, 2026, White Mountains Insurance Group said its subsidiary HG Global Ltd. completed a $200 million private placement of fixed rate senior secured notes under a May 14, 2026 note purchase agreement. The new 10-year notes, bearing a 7.39% ...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
White Mountains Partners Acquires Majority Stake in BaseSix
Positive
Apr 1, 2026
On April 1, 2026, White Mountains Partners, an operating company of White Mountains Insurance Group, acquired a majority interest in BaseSix Systems LLC, a Marietta, Georgia-based provider of building systems integration and aftermarket services f...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.