Where do White Mountains Insurance Group's ratios come from?

Every ratio is computed from White Mountains Insurance Group's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	94.9%-1.0pp	95.9%+0.5pp	95.5%-1.9pp	97.4%-1.3pp	98.6%0.0pp
Net margin	28.4%-1.2pp	29.6%—	——	——	——
Returns
Return on equity	21.2%-1.2pp	22.3%—	——	——	——
Return on assets	8.6%-1.3pp	10%—	——	——	——
Efficiency
Asset turnover	0.3×0.0×	0.3×+0.1×	0.2×0.0×	0.2×0.0×	0.2×0.0×
Leverage
Debt-to-equity	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.1×0.0×	0.1×0.0×
Debt-to-assets	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Valuation
Market capitalization	$5.42B+5.3%	$5.15B+19.6%	$4.3B-5.6%	$4.56B-7.6%	$4.94B-1.2%
Enterprise value	$6.25B+3.6%	$6.04B+16.7%	$5.17B-1.5%	$5.25B-6.4%	$5.61B+0.3%
Price / earnings	5.2×+0.5×	4.7×—	——	——	——
Price / sales	1.5×+0.1×	1.4×-0.4×	1.7×-0.1×	1.8×-0.4×	2.3×0.0×
Price / book	1×+0.1×	0.9×0.0×	0.9×-0.1×	1×-0.1×	1.1×0.0×
EV / sales	1.7×+0.1×	1.6×-0.5×	2.1×-0.1×	2.1×-0.5×	2.6×+0.1×
Earnings yield	19.3%-2.2pp	21.5%—	——	——	——

Chart any of these lines over time, or line them up against competitors.

Compare these in charts →

Questions, answered.

Where do White Mountains Insurance Group's ratios come from?: Every ratio is computed from White Mountains Insurance Group's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.