White Mountains Insurance Group LTD income statement
In fiscal 2025, White Mountains Insurance Group LTD reported revenue of $3.73bn, up 66.8% on the year before and net income of $1.11bn, or $430.14 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,443 | 2,334 | 2,173 | 2,436 | 1,362 | 1,411 | 440 | 158 | 374 | 369 | 893 | 896 | 614 | 1,158 | 2,167 | 2,240 | 3,735 | 3,830 |
| Cost of revenue | — | — | — | — | — | — | — | 102 | 139 | 249 | 48 | 11 | 69 | 99 | 40 | 30 | 152 | 225 |
| Gross profit | — | — | — | — | — | — | — | 56 | 234 | 120 | 845 | 884 | 545 | 1,059 | 2,126 | 2,210 | 3,583 | 3,606 |
| General and administrative | 197 | 155 | 175 | 182 | 149 | 217 | 201 | 176 | 208 | 234 | 328 | 208 | 292 | 364 | 433 | 490 | 607 | 661 |
| Interest expense | 71 | 57 | 55 | 45 | 16 | 14 | 2 | 3 | 2 | 10 | 18 | 7 | 21 | 40 | 63 | 61 | 78 | 81 |
| Income before tax | 797 | 189 | 98 | 263 | 159 | −29 | 129 | −147 | 8 | −178 | 405 | 660 | −274 | −149 | 565 | 317 | 1,329 | 1,310 |
| Income tax | 214 | 30 | −110 | −16 | 33 | −15 | 13 | −33 | −8 | −4 | 29 | −15 | 44 | 41 | −16 | 33 | 127 | 130 |
| Net income | 470 | 87 | 768 | 207 | 322 | 312 | 295 | 402 | 627 | −141 | 415 | 709 | −275 | 793 | 509 | 230 | 1,106 | 1,122 |
| Diluted EPS | $53.10 | $10.12 | $97.44 | $30.50 | $51.85 | $51.13 | $50.20 | $80.06 | $146.06 | −$41.76 | $130.27 | $226.97 | −$89.46 | $276.96 | $198.60 | $89.79 | $430.14 | $452.84 |
| Diluted shares (average) | 9m | 8m | 8m | 7m | 6m | 6m | 6m | 5m | 4m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 2m |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 839 | 358 | 578 | 689 | 864 | 1,604 | 518 | 845 |
| Cost of revenue | 8 | 7 | 8 | 42 | 55 | 47 | 43 | 80 |
| Gross profit | 832 | 351 | 570 | 647 | 809 | 1,557 | 475 | 765 |
| General and administrative | 122 | 121 | 96 | 132 | 177 | 196 | 145 | 143 |
| Interest expense | 17 | 14 | 18 | 19 | 20 | 22 | 19 | 20 |
| Income before tax | 240 | −121 | 72 | 177 | 179 | 901 | −26 | 256 |
| Income tax | 12 | 4 | 10 | 13 | 17 | 87 | 1 | 25 |
| Net income | 179 | −130 | 34 | 123 | 114 | 836 | −27 | 200 |
| Diluted EPS | $69.68 | −$50.87 | $13.19 | $47.75 | $44.18 | $324.96 | −$12.59 | $80.58 |
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