15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $3.7B | $1.1B | 95.9% | 0.0% | — | $837M | $186M |
| 2024 | $2.2B | $230M | 98.7% | 0.0% | — | $563M | $266M |
| 2023 | $2.2B | $509M | 98.1% | 0.0% | — | $565M | $122M |
| 2022 | $1.2B | $793M | 91.5% | 0.0% | — | $575M | $255M |
| 2021 | $614M | -$275M | 88.7% | 0.0% | — | $421M | $148M |
| 2020 | $896M | — | 98.7% | 0.0% | — | $376M | $85M |
| 2019 | $893M | — | 94.6% | 0.0% | — | $284M | $71M |
| 2018 | $369M | — | 32.6% | 0.0% | — | $193M | $110M |
| 2017 | $374M | — | 62.7% | 0.0% | — | $24M | $97M |
| 2016 | $158M | — | 35.3% | 0.0% | — | $13M | — |
| 2015 | $440M | — | 0.0% | 0.0% | — | $338M | — |
| 2014 | $1.4B | — | 0.0% | 0.0% | — | $343M | — |
| 2013 | $1.4B | — | 0.0% | 0.0% | — | $676M | — |
| 2012 | $2.4B | — | 0.0% | 0.0% | — | $751M | — |
| 2011 | $2.2B | — | 0.0% | 0.0% | — | $678M | — |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $518M | -$27M | 91.8% | 0.0% | — | $835M | $137M |
| Dec '25 | $1.6B | $836M | 97.1% | 0.0% | — | $837M | $186M |
| Sep '25 | $864M | $114M | 93.6% | 0.0% | — | $870M | $474M |
| Jun '25 | $689M | $123M | 93.8% | 0.0% | — | $695M | $338M |
| Mar '25 | $578M | $34M | 98.7% | 0.0% | — | $676M | $312M |
| Dec '24 | $358M | -$130M | 97.9% | 0.0% | — | $563M | $266M |
| Sep '24 | $839M | $179M | 99.1% | 0.0% | — | $545M | $346M |
| Jun '24 | $395M | -$55M | 98.2% | 0.0% | — | $530M | $255M |
| Mar '24 | $647M | $236M | 98.8% | 0.0% | — | $532M | $225M |
| Dec '23 | $737M | $287M | 99.1% | 0.0% | — | $565M | $122M |
| Sep '23 | $520M | $24M | 98.5% | 0.0% | — | $565M | $163M |
| Jun '23 | $378M | $20M | 96.9% | 0.0% | — | $566M | $155M |
| Mar '23 | $532M | $180M | 97.4% | 0.0% | — | $556M | $203M |
| Dec '22 | $438M | $40M | 93.2% | 0.0% | — | $575M | $255M |
| Sep '22 | $383M | $888M | 93.5% | 0.0% | — | $616M | $246M |
| Jun '22 | $77M | -$169M | 70.8% | 0.0% | — | $618M | $383M |
| Mar '22 | $260M | $33M | 91.8% | 0.0% | — | $691M | $214M |
| Dec '21 | $261M | — | 91.0% | 0.0% | — | $421M | $148M |
| Sep '21 | -$92M | -$371M | 126.0% | 0.0% | — | $710M | $184M |
| Jun '21 | $342M | $139M | 94.8% | 0.0% | — | $429M | $172M |
How the market has priced WTM against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, White Mountains Insurance Group Ltd's revenue has grown 33.1% per year. These are computed facts, not advice.
As of FY2025, White Mountains Insurance Group Ltd reported $837M of total debt against $186M of cash.
In FY2025, gross margin was 95.9%, operating margin —, and net margin 29.6%.
As of Jun '26, White Mountains Insurance Group Ltd traded at a price-to-earnings ratio of about 4.5× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.