White Mountains Insurance (WTM) Cost of Revenue (2009 - 2026)
White Mountains Insurance (WTM) recorded Cost of Revenue of $80.1 million in Q2 2026, up 88.9% from $42.4 million a year earlier and up 87.6% from the prior quarter.
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Analysis
White Mountains Insurance (WTM) Cost of Revenue (2009 - 2026) Analysis & Trends
On a TTM basis, White Mountains Insurance's Cost of Revenue came in at $224.7 million as of Jun 30, 2026, up 246.2% year-over-year; for FY2025, it was $151.8 million, up 412.8% from FY2024.
- Annual Cost of Revenue has a five-year compound annual growth rate of 68.1% (FY2020 to FY2025).
- Across earlier years, Cost of Revenue came in at $29.6 million in FY2024 (-26.7%), $40.4 million in FY2023 (-59.0%), $98.6 million in FY2022 (+42.3%) and $69.3 million in FY2021 (+513.3%).
- The Q2 2026 figure is the highest quarterly Cost of Revenue since Q1 2019.
- On a year-over-year basis, Cost of Revenue has increased for five consecutive quarters, with growth averaging 277.8% over the last eight quarters.
- Peak year-over-year performance for Cost of Revenue in the last five years was growth of 943.5% in Q3 2021, against a decline of 76.8% in Q4 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at $42.7 million (Q1 2026), $46.6 million (Q4 2025) and $55.3 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway | 1,083.21 Bn | -334.26 Bn | 55.86 Bn | 45.95 Bn |
| 2 | Chubb | 127.58 Bn | 79.64 Bn | 9.13 Bn | 6.69 Bn |
| 3 | Progressive | 122.25 Bn | 98.08 Bn | 9.04 Bn | 14.57 Bn |
| 4 | Marsh & Mclennan Companies | 81.29 Bn | 73.03 Bn | - | - |
| 5 | Travelers Companies | 75.19 Bn | 51.44 Bn | 6.23 Bn | 5.92 Bn |
| 6 | Manulife Financial | 73.16 Bn | 74.37 Bn | - | - |
| 7 | Metlife | 60.22 Bn | -46.26 Bn | 7.82 Bn | 11.34 Bn |
| 8 | Arthur J. Gallagher | 57.98 Bn | 52.41 Bn | - | - |
| 9 | Aon | 57.16 Bn | 50.40 Bn | - | - |
| 10 | White Mountains Insurance | 4.82 Bn | -5.86 Bn | 764.50 Mn | 80.10 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 80.10 Mn |
| Mar 31, 2026 | 42.70 Mn |
| Dec 31, 2025 | 46.60 Mn |
| Sep 30, 2025 | 55.30 Mn |
| Jun 30, 2025 | 42.40 Mn |
| Mar 31, 2025 | 7.50 Mn |
| Dec 31, 2024 | 7.40 Mn |
| Sep 30, 2024 | 7.60 Mn |
| Jun 30, 2024 | 7.00 Mn |
| Mar 31, 2024 | 7.60 Mn |
| Dec 31, 2023 | 6.90 Mn |
| Sep 30, 2023 | 8.00 Mn |
| Jun 30, 2023 | 11.60 Mn |
| Mar 31, 2023 | 13.90 Mn |
| Dec 31, 2022 | 29.80 Mn |
| Sep 30, 2022 | 25.00 Mn |
| Jun 30, 2022 | 22.40 Mn |
| Mar 31, 2022 | 21.40 Mn |
| Dec 31, 2021 | 23.40 Mn |
| Sep 30, 2021 | 24.00 Mn |
API Access
White Mountains Insurance Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=WTM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "WTM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=WTM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();