White Mountains Insurance Group, Ltd.
$2.03K
-1.8%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/BAM segment provides insurance on municipal bonds issued to finance public purposes, such as schools, utilities, and transportation facilities, as well as reinsurance protection services. The Ark segment writes a portfolio of reinsurance and insurance, including property, marine and energy, accident and health, casualty, and specialty products. The NSM segment operates as a managing general agent and program administrator for specialty property and casualty insurance to various sectors comprising specialty transportation, real estate, social services, and pet. The Kudu segment provides capital solutions to boutique asset and wealth managers for generational ownership transfers, management buyouts, acquisitions and growth finances, and legacy partner liquidity, as well as strategic assistance to investees. The Other Operations segment offers insurance solutions to travel industry through broker channel and on a direct-to-consumer basis; and manages separate accounts and pooled investment vehicles for insurance-linked securities sectors, including catastrophe bonds, collateralized reinsurance investments, and industry loss warranties of third-party clients. White Mountains Insurance Group, Ltd. was incorporated in 1980 and is headquartered in Hamilton, Bermuda.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is compressed (P/E 4.7).
Valuation inputs: P/E 4.7, earnings yield +21.1%, momentum -1.8%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is strong (ROE +20.4%, ROIC +15.1%).
Profitability stack: net margin +40.9%, ROE +20.4%, ROIC +15.1%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceDownside profile looks controlled across current risk inputs.
Risk factors: liabilities/assets +49.2%, momentum -1.8%, net margin +40.9%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
White Mountains Insurance Group, Ltd. Market vs Earnings Trajectory
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White Mountains Insurance Group, Ltd. Fair Value Envelope
White Mountains Insurance Group, Ltd. Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Outstanding operational efficiency. The company generates substantial profit from core operations.
Net Profit Margin
Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.
Effective Tax Rate
Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.
Profitability Insight
Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.
White Mountains Insurance Group, Ltd. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.
FCF Growth Trend
Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.
Working Capital Impact
Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.
Cash Flow Quality Insight
Cash flow concerns: Despite profitability, the company is burning cash. Review working capital management, CapEx levels, and sustainability of current operations.
White Mountains Insurance Group, Ltd. Funding & Solvency Profile
Financial Health Analysis
Debt-to-Equity Ratio
High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Capital-intensive business with significant long-term investments in property, equipment, or intangibles.
White Mountains Insurance Group, Ltd. Street Expectations Map
No Target Data
No analyst price targets available for wtm.
White Mountains Insurance Group, Ltd. Insider Positioning
During the last 12 months, insiders have sold $10.25M worth of WTM shares, with no buying activity reported.
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Top Buyers
No buying activity
Top Sellers
Campbell Reid Tarlton
Director
$10.25M
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $10.25M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Insider Participation
1 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.
wtm Dividend History
Learning Layer
Related Guides
Build conviction on WTM by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.