White Mountains Insurance Group (BDA:WTM.BH) Scaled Net Operating Assets: 0.44 (As of Mar. 2026)


BDA:WTM.BH White Mountains Insurance Group Ltd BDA:WTM.BH
76 GF Score
Price $976.65
GF Value $1,132.95
! 2 Warning Signs
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What is White Mountains Insurance Group Scaled Net Operating Assets?

White Mountains Insurance Group BDA:WTM.BH 76 Scaled Net Operating Assets is 0.44 as of Mar. 2026. GuruFocus rates BDA:WTM.BH with a GF Score™ of 76/100 and a GF Value™ of $1,132.95. The stock has 2 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

White Mountains Insurance Group's operating assets for the quarter that ended in Mar. 2026 was $11,598 Mil. White Mountains Insurance Group's operating liabilities for the quarter that ended in Mar. 2026 was $6,158 Mil. White Mountains Insurance Group's Total Assets for the quarter that ended in Dec. 2025 was $12,307 Mil. Therefore, White Mountains Insurance Group's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.44.

BDA:WTM.BH
76GF Score
White Mountains Insurance Group Ltd BDA:WTM.BH
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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White Mountains Insurance Group Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

White Mountains Insurance Group's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(12121.6-5214.4)/9925.6
=0.70

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=12306.5 - 184.9
=12121.6

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=6051.4 - 837 - 0
=5214.4

White Mountains Insurance Group's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(11597.9-6158.1)/12306.5
=0.44

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=13168.9 - 1571
=11597.9

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=6992.9 - 834.8 - 0
=6158.1

* 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.

What does a Scaled Net Operating Assets of 0.44 mean?
White Mountains Insurance Group (BDA:WTM.BH) has a Scaled Net Operating Assets of 0.44 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on White Mountains Insurance Group and its competitors.
Is White Mountains Insurance Group's Scaled Net Operating Assets too high?
White Mountains Insurance Group's current Scaled Net Operating Assets is 0.44. Overall, White Mountains Insurance Group has a GF Score™ of 76/100, reflecting its overall financial health beyond just this single metric.
How does White Mountains Insurance Group's Scaled Net Operating Assets compare to SIGI and MCY?
White Mountains Insurance Group's Scaled Net Operating Assets of 0.44 can be compared against companies in the Insurance industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for an Insurance company?
A good Scaled Net Operating Assets depends on the Insurance industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on White Mountains Insurance Group and its competitors. White Mountains Insurance Group's current Scaled Net Operating Assets is 0.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is White Mountains Insurance Group stock overvalued right now?
White Mountains Insurance Group (BDA:WTM.BH) has a current Scaled Net Operating Assets of 0.44. The stock's GF Value™ is $1,132.95, compared to a current price of $976.65 — trading 13.8% below its estimated fair value. The current Scaled Net Operating Assets is 0.44. White Mountains Insurance Group's overall GF Score™ is 76/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For White Mountains Insurance Group (BDA:WTM.BH), the current Scaled Net Operating Assets is 0.44 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is White Mountains Insurance Group (BDA:WTM.BH) Overvalued in 2026?

Based on GuruFocus' analysis, White Mountains Insurance Group stock appears to be undervalued. The current stock price of $976.65 is trading 13.8% below its estimated GF Value™ of $1,132.95.

Key valuation signals for BDA:WTM.BH:

  • Scaled Net Operating Assets: 0.44
  • GF Value™: $1,132.95 vs. price of $976.65 (13.8% below fair value)
  • GF Score™: 76/100 with 2 warning signs

No single metric tells the full story. See the BDA:WTM.BH 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.
76GF Score

Get the complete analysis for BDA:WTM.BH

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$976.65
Price
$1,132.95
GF Value