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White Mountains Insurance Group WTM Q3 2025 earnings

Reported November 6, 2025 · Before market open

Revenue$864.2M
EPS$72.21Beat by $15.21
EPS estimate$57.00

Next report

Aug 6, 2026 (In 1 week)
Revenue estimate$570.2M
EPS estimate$75.00

Financials

Q3 2025

Income statement

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Revenue$864.2M+3.0%
Gross profit$808.9M-2.7%
Net income$113.8M-36.4%

Balance sheet

See full
Total debt$870.4M+59.7%
Total equity$4.8B+3.4%
Total assets$12.3B+19.4%

Cash flow

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Operating cash flow$359.3M+33.4%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$4.3B+0.2%
Enterprise value$5.17B+6.9%
P/S1.7×+0.1×

Profitability

See full
Gross margin95.5%-3.4pp

Returns & leverage

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Debt / equity0.2×+0.1×

Segments

By segment

See full
P&C Insurance and Reinsurance (Ark/WM Outrigger)$589.5M-6.9%
P&C Insurance Distribution (Bamboo)$71.4M+28.2%
Asset Management (Kudu)$54.4M+15.3%
Financial Guarantee (HG Global)$29.3M+153%
Specialty Insurance Distribution (Distinguished)$14.3M—

Versus estimates

Revenue

Q1 2026$515.4MIn lineQ4 2025$576.1MIn line
Q3 2025$864.2M
Q3 2025$689.2M
Q1 2025$413.2MQ4 2024$358.0M

Diluted EPS

Q1 2026$12.59Beat by $16.59Q4 2025$39.77Miss by $339.68
Q3 2025$72.21Beat by $15.21
Q3 2025$47.75Miss by $9.25
Q1 2025-$20.50Miss by $6.50Q4 2024-$50.78Miss by $17.78

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Questions, answered.

When did White Mountains Insurance Group report Q3 2025 earnings?
White Mountains Insurance Group (WTM) reported Q3 2025 earnings on November 6, 2025 before market open.
What were White Mountains Insurance Group's Q3 2025 revenue and EPS?
White Mountains Insurance Group reported revenue of $864.2M and eps of $72.21 for Q3 2025.
Did White Mountains Insurance Group beat estimates in Q3 2025?
EPS beat the consensus estimate of $57.00 by $15.21.
How did White Mountains Insurance Group's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 448.4% from $157.6M a year earlier and eps grew 3.6% from $69.68.
Where can I find White Mountains Insurance Group's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001628280-25-049888) and the 10-Q periodic report (0001628280-25-049910) directly on SEC EDGAR. The filing index links above go to sec.gov.