WTM Q2 2021 Earnings Report — White Mountains Insurance Group, Ltd. Revenue & Financial Results | Market Cap Arena

White Mountains Insurance Group, Ltd.WTM

Q2 2021 Earnings

Reported August 6, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2021	Q1 2021	Q2 2020	QoQ Change	YoY Change
Revenue	$342M	—	—	—	—
Op. Income	$161M	—	—	—	—
Gross Margin	67.9%	—	—	—	—
Net Margin	40.4%	—	—	—	—
EPS (Diluted)	$44.56	—	—	—	—
Free Cash Flow	$107M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$342M
Cost of Revenue	$110M
GROSS PROFIT	$233M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$71M
SG&A Expenses	$71M
Other Expenses	$0
Operating Expenses	$71M
Cost & Expenses	$181M
OPERATING INCOME	$161M
Interest Income	$0
Interest Expense	$3M
Other Income/Expenses	$0
INCOME BEFORE TAX	$161M
Income Tax Expense	$30M
Net Income from Continuing Ops	$131M
Net Income from Discontinued Ops	$1M
Other Adjustments	$0
NET INCOME	$139M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$139M
D&A	-$5M
EBIT	$165M
EBITDA	$160M
EPS	$45
EPS Diluted	$45

Income Statement

Item	Amount
REVENUE	$342M
Cost of Revenue	$110M
GROSS PROFIT	$233M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$71M
SG&A Expenses	$71M
Other Expenses	$0
Operating Expenses	$71M
Cost & Expenses	$181M
OPERATING INCOME	$161M
Interest Income	$0
Interest Expense	$3M
Other Income/Expenses	$0
INCOME BEFORE TAX	$161M
Income Tax Expense	$30M
Net Income from Continuing Ops	$131M
Net Income from Discontinued Ops	$1M
Other Adjustments	$0
NET INCOME	$139M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$139M
D&A	-$5M
EBIT	$165M
EBITDA	$160M
EPS	$45
EPS Diluted	$45

Cash Flow Statement

Item	Amount
Net Income	$139M
Depreciation & Amortization	$15M
Stock-Based Compensation	$11M
Deferred Income Tax	$23M
Other Non-Cash Items	-$128M
Change in Working Capital	$47M
OPERATING CASH FLOW	$107M
Capital Expenditure	$0
Acquisitions (Net)	-$500.0K
Purchases of Investments	-$323M
Sales/Maturities of Investments	$101M
Other Investing Activities	-$52M
NET CASH FROM INVESTING	-$274M
Net Debt Issuance	-$500.0K
Common Stock Repurchased	-$7M
Common Dividends Paid	-$100.0K
Other Financing Activities	$13M
NET CASH FROM FINANCING	$5M
FREE CASH FLOW	$107M
Net Change in Cash	-$162M

Balance Sheet

Item	Amount
Cash & Equivalents	$327M
Short-Term Investments	$533M
Net Receivables	$1.1B
Inventory	$0
Other Current Assets	-$2.1B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$3.1B
Tax Assets	$0
Other Non-Current Assets	-$4.2B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$7.3B
Account Payables	$653M
Short-Term Debt	$364M
Deferred Revenue	$0
Other Current Liabilities	-$1.0B
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$65M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$65M
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$3.2B
Common Stock	$3M
Additional Paid-In Capital	$594M
Retained Earnings	$3.4B
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.0B
Minority Interest	$130M
TOTAL EQUITY	$4.1B
TOTAL LIABILITIES & EQUITY	$7.3B
Total Debt	$429M
Net Debt	$102M