White Mountains Insurance Group (FRA:WNI) Cyclically Adjusted PS Ratio: (As of Aug. 07, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:WNI White Mountains Insurance Group Ltd FRA:WNI
28 GF Score
Price €1,800.00
GF Value €2,016.40
Valuation Modestly Undervalued
! 3 Warning Signs
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What is White Mountains Insurance Group Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


White Mountains Insurance Group  (FRA:WNI) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


White Mountains Insurance Group Cyclically Adjusted PS Ratio Related Terms


White Mountains Insurance Group Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for White Mountains Insurance Group's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

White Mountains Insurance Group Cyclically Adjusted PS Ratio Chart

White Mountains Insurance Group Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.34 5.79 4.87 5.27 4.30

White Mountains Insurance Group Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.38 3.80 4.30 4.35 0.00

FRA:WNI vs RLI, SIGI, MCY: Cyclically Adjusted PS Ratio Comparison

For the Insurance - Property & Casualty subindustry, White Mountains Insurance Group's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


White Mountains Insurance Group Cyclically Adjusted PS Ratio vs Insurance Industry

For the Insurance industry and Financial Services sector, White Mountains Insurance Group's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where White Mountains Insurance Group's Cyclically Adjusted PS Ratio falls into.


FRA:WNI
28GF Score
White Mountains Insurance Group Ltd FRA:WNI
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

White Mountains Insurance Group Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

White Mountains Insurance Group's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, White Mountains Insurance Group's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=304.449/333.9520*333.9520
=304.449

Current CPI (Jun. 2026) = 333.9520.

White Mountains Insurance Group Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 10.519 241.428 14.550
201612 -1.162 241.432 -1.607
201703 18.402 243.801 25.207
201706 16.460 244.955 22.440
201709 17.298 246.819 23.405
201712 26.099 246.524 35.355
201803 9.203 249.554 12.315
201806 30.873 251.989 40.915
201809 54.248 252.439 71.765
201812 1.682 251.233 2.236
201903 122.209 254.202 160.549
201906 36.347 256.143 47.388
201909 44.938 256.759 58.448
201912 50.213 256.974 65.255
202003 -25.402 258.115 -32.865
202006 75.237 257.797 97.463
202009 127.531 260.280 163.629
202012 63.336 260.474 81.203
202103 48.790 264.877 61.514
202106 91.439 271.696 112.391
202109 -25.726 274.310 -31.319
202112 77.512 278.802 92.845
202203 79.423 287.504 92.254
202206 24.671 296.311 27.805
202209 135.515 296.808 152.474
202212 163.085 296.797 183.501
202303 195.666 301.836 216.485
202306 138.359 305.109 151.439
202309 192.971 307.789 209.374
202312 267.795 306.746 291.546
202403 235.289 312.332 251.576
202406 145.074 314.175 154.206
202409 339.200 315.301 359.265
202412 135.163 315.605 143.020
202503 210.336 319.799 219.645
202506 235.158 322.561 243.462
202509 289.653 324.800 297.815
202512 256.336 324.054 264.166
202603 183.039 330.213 185.112
202606 304.449 333.952 304.449

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is White Mountains Insurance Group (FRA:WNI) Overvalued in 2026?

Based on GuruFocus' analysis, White Mountains Insurance Group stock appears to be undervalued. The current stock price of €1,800.00 is trading 10.7% below its estimated GF Value™ of €2,016.40. GuruFocus considers White Mountains Insurance Group to be Modestly Undervalued.

Key valuation signals for FRA:WNI:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €2,016.40 vs. price of €1,800.00 (10.7% below fair value)
  • GF Score™: 28/100 with 3 warning signs

No single metric tells the full story. See the FRA:WNI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


White Mountains Insurance Group Business Description

Other Exchanges WTM:USA
Address 23 South Main Street, Suite 3B, Hanover, NH, USA, 03755-2053
White Mountains Insurance Group Ltd is engaged in the business of making opportunistic and value-oriented acquisitions of businesses and assets in the insurance, financial services, and related sectors, operating these businesses and assets through its subsidiaries and, if and when attractive exit valuations become available, disposing of these businesses and assets. The company conducts its business in five areas: property and casualty insurance and reinsurance, municipal bond reinsurance, capital solutions for asset and wealth management firms, property and casualty insurance distribution, and other operations. The company has four reportable segments: Ark/WM Outrigger, HG Global, Kudu and Distinguished.
28GF Score

Get the complete analysis for FRA:WNI

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€1,800.00
Price
€2,016.40
GF Value