Growth Metrics

Waterdrop (WDH) Equity Ratio (2020 - 2025)

Waterdrop's quarterly Equity Ratio came in at 0.73 in Q4 2025, down 2.4% year-on-year from 0.74 in Q4 2024, and down 5.41% quarter-over-quarter from 0.77 in Q3 2025.

Waterdrop has reported Equity Ratio for 6 years, with the latest figure at 0.73 in Q4 2025.

  • For the quarter ending Q4 2025, Equity Ratio fell 2.4% year-over-year to 0.73; the trailing twelve-month figure through Dec 2025 stood at 0.73 (down 2.4% YoY), and the FY2025 full-year result was 0.73, down 2.4% from the prior year.
  • Equity Ratio for Q4 2025 stood at 0.73, down from 0.77 in the prior quarter.
  • The five-year high for Equity Ratio was 0.81 in Q2 2022, with the low at 0.73 in Q4 2025.
  • Average Equity Ratio over 5 years is 0.77, with a median of 0.76 recorded in 2021.
  • Year-over-year, Equity Ratio jumped 314.88% in 2021 and fell 7.33% in 2023.
  • Tracing WDH's Equity Ratio over 5 years: stood at 0.76 in 2021, then grew by 6.35% to 0.8 in 2022, then retreated by 7.33% to 0.75 in 2023, then retreated by 0.33% to 0.74 in 2024, then slipped by 2.4% to 0.73 in 2025.
  • The last three Equity Ratio figures came in at 0.73 (Q4 2025), 0.77 (Q3 2025), and 0.77 (Q2 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Equity Ratio (Qtr)
1 American International 39.62 Bn 784.91 Mn 2.60 Bn 0.25
2 Hartford Insurance 34.97 Bn 25.91 Bn 2.15 Bn 0.22
3 Aegon 34.55 Bn 34.55 Bn - 0.07
4 Arch Capital 31.37 Bn 30.45 Bn 4.02 Bn 0.30
5 Fidelis Insurance Holdings 2.04 Bn 2.04 Bn 386.80 Mn -
6 International General Insurance Holdings 1.03 Bn 811.79 Mn 70.90 Mn 0.31
7 Waterdrop 762.05 Mn 690.71 Mn 129.34 Mn 0.73
8 Exzeo 1.28 Mn -230.11 Mn 32.74 Mn 0.72
9 Sun Life Financial 43.53 -7.92 Bn - 0.06
10 Sun Life Financial - - - 0.06

Historic Data

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DateValue
Dec 31, 2025 0.73
Sep 30, 2025 0.77
Jun 30, 2025 0.77
Mar 31, 2025 0.75
Dec 31, 2024 0.74
Sep 30, 2024 0.74
Jun 30, 2024 0.76
Mar 31, 2024 0.75
Dec 31, 2023 0.75
Sep 30, 2023 0.76
Jun 30, 2023 0.78
Mar 31, 2023 0.80
Dec 31, 2022 0.80
Sep 30, 2022 0.81
Jun 30, 2022 0.81
Mar 31, 2022 0.79
Dec 31, 2021 0.76
Sep 30, 2021 0.75
Jun 30, 2021 0.74
Dec 31, 2020 -0.35