Stock fact sheet · data as of
White Mountains Insurance Group, Ltd. (WTM): fair value, margin of safety and Wheel Score
Financial Services · Insurance - Diversified · Bermuda · High Growth
Is WTM undervalued?
At 2,098.01 (close of 16 Oct 2026), WTM trades 76% below the GLS average fair value of 8,914.92. That average comes from 8 models run on the latest filings, and 7 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns White Mountains Insurance Group, Ltd. the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
The 8 models disagree widely: DDM gives 14.71 while GLS Growth gives 28,428.34. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files WTM under High Growth: revenue and earnings growing fast enough that the growth-based models carry the valuation.
Nine valuation models for WTM
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | 4,835.64 | +130% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 15,423.97 | +635% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 5,913.71 | +182% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 28,428.34 | +1255% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 4,553.40 | +117% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 6,989.98 | +233% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 14.71 | -99% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 5,159.59 | +146% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -476.18 | -123% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - WTM passes 5 of the nine Piotroski tests, which falls one point short of the Sunday Scan's "6 or more" rule. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 4.5 out of 10, which says the ten-year record of revenue, earnings, margins and returns on capital has been inconsistent - growth and shocks rather than steady compounding.
Returns on capital are high - ROIC 17.7%, ROE 20.4%, ROA 9.0% - with debt at 0.15 times equity and a free-cash-flow yield of 8.5%.
The dividend yield is 0.05% with a payout ratio of 0% - a small yield that leaves most of the earnings in the business. Revenue comes mainly from Product and Service, Other 100% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 1/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | 17.7% |
|---|---|---|---|
| GLS Moat | 4.5 / 10 | ROE | 20.4% |
| Debt / equity | 0.15 | ROA | 9.0% |
| Free-cash-flow yield | 8.5% | Payout ratio | 0% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 1 / 10 |
Wheel Score 39: No options
WTM has no listed options in the nightly snapshot, so there is nothing to sell and the stock cannot be wheeled however good the business; the Wheel Score is capped at 39 and shown as "No options" (39 here). The valuation and quality numbers still apply to owning the shares outright.
Volume runs at 19k shares a day on a market cap of $5.0B, with a beta of 0.28 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 11 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 76% margin of safety | |
| Health | 11 / 20 | Piotroski 5/9 | |
| Moat | 7 / 15 | moat 4.5/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 11 / 20 | 19k shares/day, $5.0B cap, beta 0.28 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 5 Nov 2026 (before the open), 20 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Insurance - Diversified
The 12 companies below are the closest to White Mountains Insurance Group, Ltd. by market cap within the Insurance - Diversified industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| AXS AXIS Capital Holdings Limited | 97.93 | 459.20 | +79% | 84Prime | $7.1B |
| GNW Genworth Financial, Inc. | 8.94 | 16.69 | +46% | 83Prime | $3.4B |
| BNT Brookfield Wealth Solutions Ltd. | 36.78 | 54.97 | +33% | 72Good | $12.2B |
| PLGO Pelagos Insurance Capital Limit | 24.75 | 143.57 | +83% | 39No options | $2.0B |
| AEG Aegon Ltd. | 8.27 | 9.88 | +16% | 57Fair | $12.6B |
| AEFC Aegon Funding Company LLC | 17.47 | 20.05 | +13% | 35No options | $13.6B |
| XZO Exzeo Group, Inc. | 15.83 | 27.39 | +42% | 39No options | $1.4B |
| IGIC International General Insurance Holdings Ltd. | 24.52 | 65.72 | +63% | 45Weak | $1.0B |
| ACGL Arch Capital Group Ltd. | 99.31 | 356.81 | +72% | 84Prime | $33.9B |
| ACGLN Arch Capital Group Ltd. | 15.30 | 158.96 | +90% | 39No options | $34.7B |
| ACGLO Arch Capital Group Ltd. | 18.48 | 169.55 | +89% | 39No options | $34.9B |
| HIG The Hartford Insurance Group, Inc. | 132.81 | 354.02 | +62% | 84Prime | $36.0B |
⚖ Compare WTM with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about WTM
Is WTM undervalued right now?
By the GLS models, yes: at 2,098.01 the stock is 76% below the average fair value of 8,914.92 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of WTM and what does it mean?
WTM has no listed options in our nightly snapshot, so it cannot be wheeled; its Wheel Score is capped at 39 and shown as "No options".
What is the GLS fair value for WTM?
8,914.92 per share as of 16 Oct 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does White Mountains Insurance Group, Ltd. report earnings next?
The next earnings report is due on 5 Nov 2026 (before the open), 20 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does WTM have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on WTM, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.