Waterdrop (WDH) EBITDA Margin (2020 - 2025)
Waterdrop's quarterly EBITDA Margin came in at 7.11% in Q4 2025, down 1492.0% year-on-year from 0.51% in Q4 2024, and down 54.62% quarter-over-quarter from 15.67% in Q3 2025.
Waterdrop has reported EBITDA Margin for 6 years, with the latest figure at 7.11% in Q4 2025.
- For the quarter ending Q4 2025, EBITDA Margin fell 1492.0% year-over-year to 7.11%; the trailing twelve-month figure through Dec 2025 stood at 11.25% (down 185.0% YoY), and the FY2025 full-year result was 11.39%, down 243.0% from the prior year.
- EBITDA Margin for Q4 2025 stood at 7.11%, down from 15.67% in the prior quarter.
- The five-year high for EBITDA Margin was 41.91% in Q2 2022, with the low at 70.88% in Q2 2021.
- Average EBITDA Margin over 5 years is 2.24%, with a median of 11.26% recorded in 2025.
- Year-over-year, EBITDA Margin sank 7145 bps in 2021 and surged 11279 bps in 2022.
- Tracing WDH's EBITDA Margin over 5 years: stood at 13.5% in 2021, then surged by 189 bps to 12.0% in 2022, then slumped by 79 bps to 2.51% in 2023, then jumped by 778 bps to 22.04% in 2024, then sank by 68 bps to 7.11% in 2025.
- The last three EBITDA Margin figures came in at 7.11% (Q4 2025), 15.67% (Q3 2025), and 10.52% (Q2 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | American International | 39.62 Bn | 784.91 Mn | 2.60 Bn | 11.73% |
| 2 | Hartford Insurance | 34.97 Bn | 25.91 Bn | 2.15 Bn | 12.03% |
| 3 | Aegon | 34.55 Bn | 34.55 Bn | - | - |
| 4 | Arch Capital | 31.37 Bn | 30.45 Bn | 4.02 Bn | 13.51% |
| 5 | Fidelis Insurance Holdings | 2.04 Bn | 2.04 Bn | 386.80 Mn | 14.17% |
| 6 | International General Insurance Holdings | 1.03 Bn | 811.79 Mn | 70.90 Mn | 138.90% |
| 7 | Waterdrop | 762.05 Mn | 690.71 Mn | 129.34 Mn | 7.11% |
| 8 | Exzeo | 1.28 Mn | -230.11 Mn | 32.74 Mn | 4.52% |
| 9 | Sun Life Financial | 43.53 | -7.92 Bn | - | - |
| 10 | Sun Life Financial | - | - | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 7.11% |
| Sep 30, 2025 | 15.67% |
| Jun 30, 2025 | 10.52% |
| Mar 31, 2025 | 14.30% |
| Dec 31, 2024 | 22.04% |
| Sep 30, 2024 | 1.72% |
| Jun 30, 2024 | 14.38% |
| Mar 31, 2024 | 15.00% |
| Dec 31, 2023 | 2.51% |
| Sep 30, 2023 | 6.60% |
| Jun 30, 2023 | 12.17% |
| Mar 31, 2023 | 9.08% |
| Dec 31, 2022 | 12.00% |
| Sep 30, 2022 | 34.15% |
| Jun 30, 2022 | 41.91% |
| Mar 31, 2022 | 15.15% |
| Dec 31, 2021 | -13.50% |
| Sep 30, 2021 | -63.04% |
| Jun 30, 2021 | -70.88% |
| Mar 31, 2021 | -42.10% |
| Dec 31, 2020 | -48.54% |
| Sep 30, 2020 | -18.11% |
| Jun 30, 2020 | 0.57% |
| Mar 31, 2020 | -18.45% |