What does asset management (kudu) — cost of sales mean?

This represents the direct costs attributable to the production of the services or products sold by the asset management segment. It provides insight into the core operational efficiency and direct margin profile of the business unit. Tracking this helps investors understand the scalability of the segment's service model.

White Mountains Insurance Group (WTM) Asset Management (Kudu) — Cost of Sales

Screener

Other segment segments

WTM Partners

$72.6M—

Specialty Insurance Distribution (Distinguished)

$0—

Similar metrics at other companies

JEFAsset Management — Cost of Sales

$31.3M-27.2%

ALGVegetation Management — Cost of Sales

$134.49M+10.7%

BROSLabor costs — Cost of Sales

$129.46M+27.8%

TGTMerchandising Cost of Sales — Cost of Sales

$16.28B+6.0%

CHEFFood Processing Costs — Cost of Sales

$15.45M-6.5%

BROSOccupancy & other costs — Cost of Sales

$83.09M+38.5%

Other financials

Income statement

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Revenue$844.6M+22.5%

Gross profit$764.5M+18.2%

Net income$199.5M+62.3%

Balance sheet

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Total debt$932.5M+34.2%

Total equity$5.4B+16.0%

Total assets$13.8B+16.4%

Cash flow

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Operating cash flow-$55.5M-131%

Valuation

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Market cap$5.3B+15.6%

P/E4.7×—

P/S1.4×-0.5×

Profitability

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Gross margin94.1%-3.2pp

Net margin29.3%—

Returns & leverage

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Return on equity22.4%—

Debt / equity0.2×0.0×

Where this comes from

Reported directly by White Mountains Insurance Group in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

The source filing: White Mountains Insurance Group’s 10-Q, filed August 6, 2026.

Filed: Aug 6, 2026, 8:50 AM EDT
Fiscal quarter: Q2 FY2026
Calendar quarter: Q2 2026
Accession: 0001628280-26-053932

Millions / Three Months Ended June 30, 2026	Ark/WM Outrigger / Ark	Ark/WM Outrigger / WM Outrigger Re	Kudu	HG Global	Distinguished	WTM Partners	Other Operations	Total
Total revenues	437.7	1.9	68.9	20.4	57.4	92.8	165.5	844.6
Loss and LAE (3)	175.7	(.1)	—	—	—	—	.1	175.7
Insurance acquisition expenses (3)	103.4	.3	—	2.1	—	—	.3	106.1
Cost of sales	—	—	—	—	—	72.6	7.5	80.1
Broker commission expenses	—	—	—	—	23.3	—	—	23.3
Amortization of other intangible assets (4)	—	—	—	—	6.4	1.3	.9	8.6
General and administrative expenses (3) (4) (5)	44.4	—	4.7	4.2	34.6	14.2	41.2	143.3
Change in fair value of contingent consideration	31.7	—	—	—	—	—	—	31.7

Item 1. Financial Statements (Unaudited)

FAQ

What is White Mountains Insurance Group's asset management (kudu) — cost of sales?: White Mountains Insurance Group (WTM) reported asset management (kudu) — cost of sales of $0 in Q2 2026.
What does asset management (kudu) — cost of sales mean?: This represents the direct costs attributable to the production of the services or products sold by the asset management segment. It provides insight into the core operational efficiency and direct margin profile of the business unit. Tracking this helps investors understand the scalability of the segment's service model.