RLI Corp. (RLI) vs White Mountains Insurance Group, Ltd. (WTM)

RLI Corp. and White Mountains Insurance Group, Ltd. are both Insurance Property & Casualty companies. RLI Corp. is the larger, with a market value of $6.4B against $5.5B — 1.2× the size. White Mountains Insurance Group, Ltd. trades at the lower P/E: 6.0× against 16.2×. White Mountains Insurance Group, Ltd. grew revenue faster over the last twelve months: 44.9% against 4.65%. White Mountains Insurance Group, Ltd. has the higher net margin (26.9% vs 20.3%) and the lower return on invested capital (0.00% vs 16.5%). Both pay a dividend; RLI Corp. yields more (0.75% vs 0.04%). Across the 21 metrics below, White Mountains Insurance Group, Ltd. leads on 11 and RLI Corp. on 10.

Valuation

Metric RLI WTM Insurance Property & Casualty median
P/E 16.22 6.04 12.17
P/S 3.29 1.49 1.26
P/B 3.77 0.88 1.85
Price to free cash flow 12.02 13.97 8.04
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 6.16% 16.55% 8.20%
Free cash flow yield 8.32% 7.16% 11.86%

Profitability

Metric RLI WTM Insurance Property & Casualty median
Gross margin 33.49% 0.00% 37.39%
Operating margin 26.42% 0.00% 14.67%
Net margin 20.34% 26.86% 10.16%
Free cash flow margin 27.37% 10.69% 18.60%
Return on equity 22.13% 16.59% 16.59%
Return on assets 6.23% 7.54% 3.38%
Return on invested capital 16.47% 0.00% 9.43%

Growth

Metric RLI WTM Insurance Property & Casualty median
Revenue growth (TTM) 4.65% 44.92% 5.70%
EPS growth (last fiscal year) 16.84% 379.05% 39.61%
Revenue growth, 5-year CAGR 13.86% 33.06% 9.23%
Net income growth, 5-year CAGR 20.75% 9.32% 10.09%

Health

Metric RLI WTM Insurance Property & Casualty median
Debt to equity 0.18 0.15 0.25
Current ratio 0.25 0.56 0.49
Net debt to EBITDA 0.09 0.41 0.08

Dividend

Metric RLI WTM Insurance Property & Casualty median
Dividend yield 0.75% 0.04% 1.56%
Payout ratio 0.12 0.00 0.15

Size

Metric RLI WTM Insurance Property & Casualty median
Market cap 6.40b 5.48b 2.64b

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