White Mountains Insurance Group LTD (WTM) Financial Statements
Industry: Fire, Marine & Casualty Insurance
In fiscal 2025, White Mountains Insurance reported revenue of $3.73B, up 66.8% from $2.24B the year before. Net income was $1.11B (a 29.6% net margin), or $430.14 per diluted share. Gross margin was 95.9% and operating margin was 79.7%. Operating activities generated $550.5M of cash. At fiscal year end, White Mountains Insurance held $12.31B in total assets against $6.05B in total liabilities.
Open the full interactive White Mountains Insurance financials → Quarterly statements, key ratios, valuation history and price charts.
White Mountains Insurance Key Stats
| Share Price | $2,093.13 |
|---|---|
| Market Cap | $5.04B |
| P/E Ratio | 4.9 |
| Revenue YoY Growth | +66.8% |
| 52-Week Range | $1,846.83 – $2,319.41 |
| Shares Outstanding | 2.4 million (basic, 2026 Q2) |
White Mountains Insurance Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $1.18B | $944.8M | $1.16B | $2.17B | $2.24B | $3.73B |
| Cost of Goods Sold | $11.3M | $69.3M | $98.6M | $40.4M | $29.6M | $151.8M |
| Gross Profit | $1.17B | $875.5M | $1.06B | $2.13B | $2.21B | $3.58B |
| Operating Income | $782.4M | $392.6M | $683.1M | $1.69B | $1.72B | $2.98B |
| Pre-Tax Income | $645.2M | -$302.0M | -$149.4M | $565.4M | $316.7M | $1.33B |
| Income Tax | -$20.5M | $38.6M | $41.4M | -$15.5M | $32.6M | $126.9M |
| Net Income | $708.7M | -$275.4M | $792.8M | $509.2M | $230.4M | $1.11B |
| Diluted EPS | $226.97 | -$89.46 | $276.96 | $198.60 | $89.79 | $430.14 |
White Mountains Insurance Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $864.2M | $1.60B | $517.8M | $844.6M |
| Net Income | $113.8M | $835.8M | -$27.2M | $199.5M |
| Diluted EPS | $44.18 | $329.80 | -$12.59 | $80.58 |
White Mountains Insurance Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Total Assets | $4.83B | $7.00B | $7.39B | $8.39B | $9.93B | $12.31B |
| Total Long-Term Debt | $376.4M | $693.0M | $575.2M | $564.6M | $562.5M | $837.0M |
| Total Liabilities | $1.01B | $3.30B | $3.45B | $3.82B | $4.79B | $6.05B |
| Shareholders' Equity | $3.91B | $3.55B | $3.75B | $4.24B | $4.48B | $5.43B |
White Mountains Insurance Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$60.6M | $38.6M | $365.0M | $404.1M | $586.8M | $550.5M |
| Cash From Investing | $64.6M | -$208.3M | $115.5M | -$543.9M | -$447.0M | -$666.9M |
| Cash From Financing | $49.0M | $217.6M | -$344.9M | $7.2M | $4.2M | $35.6M |
Figures from White Mountains Insurance's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full White Mountains Insurance financials page for every line item.
White Mountains Insurance Company Profile
| Ticker | WTM |
|---|---|
| Exchange | NYSE |
| Industry | Fire, Marine & Casualty Insurance |
| Headquarters | Hanover, New Hampshire |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000776867 |
Frequently Asked Questions
What was White Mountains Insurance's revenue in fiscal 2025?
White Mountains Insurance (WTM) reported revenue of $3.73B for fiscal 2025.
What is White Mountains Insurance's annual revenue history?
White Mountains Insurance's annual revenue by fiscal year: 2020: $1.18B; 2021: $944.8M; 2022: $1.16B; 2023: $2.17B; 2024: $2.24B; 2025: $3.73B.
What was White Mountains Insurance's net income in fiscal 2025?
White Mountains Insurance reported net income of $1.11B for fiscal 2025.
What was White Mountains Insurance's earnings per share (EPS) in fiscal 2025?
White Mountains Insurance's diluted EPS was $430.14 for fiscal 2025 (adjusted for any later stock splits).
What was White Mountains Insurance's revenue last quarter?
In its most recent reported quarter (2026 Q2), White Mountains Insurance reported revenue of $844.6M.
How much debt does White Mountains Insurance have?
White Mountains Insurance reported $837.0M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of White Mountains Insurance are outstanding?
White Mountains Insurance reported a weighted average of 2.4 million basic shares outstanding in 2026 Q2.
What is White Mountains Insurance's market cap?
Based on its latest closing price, White Mountains Insurance (WTM) has a market capitalization of about $5.04B.
When does White Mountains Insurance's fiscal year end?
White Mountains Insurance's fiscal year end, as registered with the SEC, is December 31.
Where is White Mountains Insurance headquartered?
White Mountains Insurance lists its business address in Hanover, New Hampshire in its SEC filings.