Waterdrop (WDH) EBITDA Margin (2020 - 2025)
Waterdrop (WDH) recorded quarterly EBITDA Margin of 7.11% in Q4 2025, down 54.62% quarter-over-quarter from 15.67% in Q3 2025, and down 1492.0% on a YoY basis from 0.51% in Q4 2024.
Waterdrop (WDH) EBITDA Margin (2020 - 2025) Analysis & Trends
Waterdrop's EBITDA Margin history runs 6 years deep, the most recent figure standing at 7.11% for Q4 2025.
- In Q4 2025, EBITDA Margin fell 1492.0% year-over-year to 7.11%; the TTM figure through Dec 2025 stood at 11.25% (down 185.0% YoY), while the FY2025 annual figure was 11.39%, down 243.0% from the prior year.
- EBITDA Margin was 7.11% for Q4 2025 at Waterdrop, down from 15.67% in the prior quarter.
- In the past five years, EBITDA Margin ranged from a high of 41.91% in Q2 2022 to a low of 70.88% in Q2 2021.
- Historically, EBITDA Margin has averaged 2.24% across 5 years, with a median of 11.26% in 2025.
- The sharpest annual moves came in 2021 and 2022: EBITDA Margin sank 7145 bps in 2021, then soared 11279 bps in 2022.
- A 5-year view of EBITDA Margin shows it stood at 13.5% in 2021, then jumped by 189 bps to 12.0% in 2022, then tumbled by 79 bps to 2.51% in 2023, then soared by 778 bps to 22.04% in 2024, then slumped 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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | American International | 39.85 Bn | 1.02 Bn | 2.60 Bn | 11.73% |
| 2 | Hartford Insurance | 35.40 Bn | 26.34 Bn | 2.15 Bn | 12.03% |
| 3 | Arch Capital | 32.21 Bn | 31.30 Bn | 4.02 Bn | 13.51% |
| 4 | Brookfield Wealth Solutions | 9.95 Bn | -3.21 Bn | 4.62 Bn | 163.95% |
| 5 | FIHL | 2.04 Bn | 2.04 Bn | - | - |
| 6 | International General Insurance Holdings | 1.03 Bn | 811.79 Mn | 111.10 Mn | 12.68% |
| 7 | Waterdrop | 632.07 Mn | 560.72 Mn | 129.34 Mn | 7.11% |
| 8 | Sun Life Financial | 48.32 Mn | -8.02 Bn | - | - |
| 9 | Exzeo | 1.16 Mn | -230.22 Mn | 32.74 Mn | 4.52% |
| 10 | Aegon | 5,067.42 | 5,067.42 | - | - |
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% |