Filing Flows › White Mountains Insurance Group (WTM) › Q2 2026 › vs Q2 2025
White Mountains Insurance Group (WTM) Q2 2026 vs Q2 2025 (year over year)
White Mountains Insurance Group's revenue rose $155M (+23%) from $689M in Q2 2025 to $845M in Q2 2026. Operating margin 30.3% against 25.6% (+4.7 pts).
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 draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 30.3% | 25.6% | +4.7 pts |
| Net margin | 23.6% | 17.8% | +5.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $845M | $689M | $155M | +23% |
| Operating profit | $256M | $176M | $79.5M | +45% |
| Costs & expenses | $589M | $513M | $75.9M | +15% |
| Pre-tax earnings | $256M | $176M | $79.5M | +45% |
| Cost of revenue | $80.1M | $42.4M | $37.7M | +89% |
| General & admin | $143M | $132M | $10.9M | +8% |
| Other operating costs | $365M | $338M | $27.3M | +8% |
| Net earnings | $200M | $123M | $76.6M | +62% |
| Minority interests | $31.7M | $40.7M | −$9.0M | -22% |
| Income tax | $24.8M | $12.9M | $11.9M | +92% |
| Operating cash sources | $270M | −$49.7M | $319M | — |
| Depreciation & amortization | $9.2M | $0 | $9.2M | — |
| Share-based compensation | $5.4M | $4.9M | $500K | +10% |
| Cash used in operations | $55.5M | −$178M | $233M | — |
| Working capital & other | $270M | −$49.7M | $319M | — |
Questions
How much did White Mountains Insurance Group's revenue grow year over year in Q2 2026?
White Mountains Insurance Group's revenue rose $155M (+23%) from $689M in Q2 2025 to $845M in Q2 2026. Operating margin 30.3% against 25.6% (+4.7 pts).