Filing Flows › White Mountains Insurance Group (WTM) › Operating margin
White Mountains Insurance Group (WTM) operating margin by quarter
White Mountains Insurance Group's operating margin was 30.3% in Q2 2026 (second quarter 2026), -25.9 pts from Q4 2025. Over the last 5 quarters it ranged from 12.5% (Q1 2025) to 56.2% (Q4 2025).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q2 2026 | 30.3% | -25.9 pts | +4.7 pts |
| Q4 2025 | 56.2% | +35.5 pts | — |
| Q3 2025 | 20.7% | -4.9 pts | — |
| Q2 2025 | 25.6% | +13.1 pts | — |
| Q1 2025 | 12.5% | — | — |
Q2 2026 at a glance
White Mountains Insurance Group, Q2 2026: revenue $845M (+22% year over year), operating margin 30.3%, net earnings $200M, operating cash flow −$55.5M. The chart follows the revenue to costs, profit and cash.
Questions
What is White Mountains Insurance Group's operating margin?
White Mountains Insurance Group's operating margin was 30.3% in Q2 2026 (second quarter 2026), -25.9 pts from Q4 2025.
How has White Mountains Insurance Group's operating margin changed?
Over the last 5 quarters it ranged from 12.5% (Q1 2025) to 56.2% (Q4 2025).
Q2 2026 results → · How White Mountains Insurance Group makes money →