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.

	FY'25	FY'24	FY'23	FY'22
Profitability
Gross margin	95.9%-2.7pp	98.7%+0.5pp	98.1%+6.7pp	91.5%+1.5pp
Net margin	29.6%—	——	23.5%-45.0pp	68.5%—
Returns
Return on equity	22.3%—	——	12.8%-9.0pp	21.7%—
Return on assets	10%—	——	6.5%-4.6pp	11%—
Efficiency
Asset turnover	0.3×+0.1×	0.2×0.0×	0.3×+0.1×	0.2×0.0×
Leverage
Debt-to-equity	0.2×0.0×	0.1×0.0×	0.1×0.0×	0.2×0.0×
Debt-to-assets	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Valuation
Market capitalization	$5.15B+3.0%	$5B+29.6%	$3.85B+5.8%	$3.64B+19.1%
Enterprise value	$6.04B+8.0%	$5.59B+26.0%	$4.44B+4.6%	$4.25B+20.9%
Price / earnings	4.7×—	——	7.6×+3.0×	4.6×—
Price / sales	1.4×-0.9×	2.2×+0.5×	1.8×-1.4×	3.1×-1.3×
Price / book	0.9×-0.2×	1.1×+0.2×	0.9×-0.1×	1×+0.1×
EV / sales	1.6×-0.9×	2.5×+0.4×	2×-1.6×	3.7×-1.4×
Earnings yield	21.5%—	——	13.2%-8.5pp	21.8%—

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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.