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RENAISSANCERE HOLDINGS LTD（RNR）与WHITE MOUNTAINS INSURANCE GROUP LTD（WTM）财务数据对比。点击上方公司名可切换其他公司
RENAISSANCERE HOLDINGS LTD的季度营收约是WHITE MOUNTAINS INSURANCE GROUP LTD的1.4倍（$2.2B vs $1.6B），WHITE MOUNTAINS INSURANCE GROUP LTD净利率更高（52.1% vs 23.5%，领先28.6%），WHITE MOUNTAINS INSURANCE GROUP LTD同比增速更快（348.0% vs -36.8%），过去两年WHITE MOUNTAINS INSURANCE GROUP LTD的营收复合增速更高（57.4% vs -11.9%）
RenaissanceRe Holdings Ltd是总部位于百慕大的保险及相关商业服务提供商，核心业务覆盖再保险、常规保险两大板块，同时运营风险相关创新投资业务，为全球客户提供专业的风险对冲与保险解决方案。
怀特山保险集团是一家多元化保险及相关金融服务控股企业，总部位于百慕大汉密尔顿，1999年10月25日从美国特拉华州迁册至当前注册地，大部分业务通过旗下保险子公司及其他关联机构开展，覆盖多个保险及金融服务细分赛道。
RNR vs WTM — 直观对比
营收规模更大
RNR
是对方的1.4倍
$1.6B
营收增速更快
WTM
高出384.7%
-36.8%
净利率更高
WTM
高出28.6%
23.5%
两年增速更快
WTM
近两年复合增速
-11.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $1.6B |
| 净利润 | $515.8M | $835.8M |
| 毛利率 | — | 97.1% |
| 营业利润率 | — | 56.2% |
| 净利率 | 23.5% | 52.1% |
| 营收同比 | -36.8% | 348.0% |
| 净利润同比 | 72.6% | 741.0% |
| 每股收益（稀释后） | $6.57 | $325.02 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收RNRWTM
| Q1 26 | $2.2B | — | ||
| Q4 25 | $3.0B | $1.6B | ||
| Q3 25 | $3.2B | $864.2M | ||
| Q2 25 | $3.2B | $689.2M | ||
| Q1 25 | $3.5B | $577.8M | ||
| Q4 24 | $2.3B | $358.0M | ||
| Q3 24 | $4.0B | $839.1M | ||
| Q2 24 | $2.8B | $395.4M |
净利润RNRWTM
| Q1 26 | $515.8M | — | ||
| Q4 25 | $760.5M | $835.8M | ||
| Q3 25 | $916.5M | $113.8M | ||
| Q2 25 | $835.4M | $122.9M | ||
| Q1 25 | $170.0M | $33.9M | ||
| Q4 24 | $-189.7M | $-130.4M | ||
| Q3 24 | $1.2B | $179.0M | ||
| Q2 24 | $503.9M | $-54.6M |
毛利率RNRWTM
| Q1 26 | — | — | ||
| Q4 25 | — | 97.1% | ||
| Q3 25 | — | 93.6% | ||
| Q2 25 | — | 93.8% | ||
| Q1 25 | — | 98.7% | ||
| Q4 24 | — | 97.9% | ||
| Q3 24 | — | 99.1% | ||
| Q2 24 | — | 98.2% |
营业利润率RNRWTM
| Q1 26 | — | — | ||
| Q4 25 | 42.5% | 56.2% | ||
| Q3 25 | 46.3% | 20.7% | ||
| Q2 25 | 41.8% | 25.6% | ||
| Q1 25 | -2.0% | 12.5% | ||
| Q4 24 | -3.6% | -33.7% | ||
| Q3 24 | 43.7% | 28.5% | ||
| Q2 24 | 25.0% | -8.8% |
净利率RNRWTM
| Q1 26 | 23.5% | — | ||
| Q4 25 | 25.6% | 52.1% | ||
| Q3 25 | 28.7% | 13.2% | ||
| Q2 25 | 26.1% | 17.8% | ||
| Q1 25 | 4.9% | 5.9% | ||
| Q4 24 | -8.3% | -36.4% | ||
| Q3 24 | 29.8% | 21.3% | ||
| Q2 24 | 17.8% | -13.8% |
每股收益（稀释后）RNRWTM
| Q1 26 | $6.57 | — | ||
| Q4 25 | $16.16 | $325.02 | ||
| Q3 25 | $19.40 | $44.18 | ||
| Q2 25 | $17.20 | $47.75 | ||
| Q1 25 | $3.27 | $13.19 | ||
| Q4 24 | $-3.76 | $-50.98 | ||
| Q3 24 | $22.62 | $69.68 | ||
| Q2 24 | $9.41 | $-21.24 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.6B | — |
| 总债务越低越好 | — | $837.0M |
| 股东权益账面价值 | $4.3B | $5.4B |
| 总资产 | $53.7B | $12.3B |
| 负债/权益比越低杠杆越低 | — | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资RNRWTM
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.6B | — |
总债务RNRWTM
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $837.0M | ||
| Q3 25 | $2.2B | $870.4M | ||
| Q2 25 | $2.3B | $694.6M | ||
| Q1 25 | $2.8B | $676.1M | ||
| Q4 24 | $1.9B | $562.5M | ||
| Q3 24 | $1.9B | $544.9M | ||
| Q2 24 | $2.0B | $530.2M |
股东权益RNRWTM
| Q1 26 | $4.3B | — | ||
| Q4 25 | $11.6B | $5.4B | ||
| Q3 25 | $11.5B | $4.8B | ||
| Q2 25 | $10.8B | $4.6B | ||
| Q1 25 | $10.3B | $4.5B | ||
| Q4 24 | $10.6B | $4.5B | ||
| Q3 24 | $11.2B | $4.6B | ||
| Q2 24 | $10.2B | $4.4B |
总资产RNRWTM
| Q1 26 | $53.7B | — | ||
| Q4 25 | $53.8B | $12.3B | ||
| Q3 25 | $54.5B | $12.3B | ||
| Q2 25 | $54.7B | $11.8B | ||
| Q1 25 | $53.6B | $11.0B | ||
| Q4 24 | $50.7B | $9.9B | ||
| Q3 24 | $52.8B | $10.3B | ||
| Q2 24 | $51.6B | $10.2B |
负债/权益比RNRWTM
| Q1 26 | — | — | ||
| Q4 25 | 0.20× | 0.15× | ||
| Q3 25 | 0.19× | 0.18× | ||
| Q2 25 | 0.21× | 0.15× | ||
| Q1 25 | 0.27× | 0.15× | ||
| Q4 24 | 0.18× | 0.13× | ||
| Q3 24 | 0.17× | 0.12× | ||
| Q2 24 | 0.19× | 0.12× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $53.9M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 0.06× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流RNRWTM
| Q1 26 | — | — | ||
| Q4 25 | $483.0M | $53.9M | ||
| Q3 25 | $1.6B | $359.3M | ||
| Q2 25 | $1.5B | $177.5M | ||
| Q1 25 | $157.8M | $-40.2M | ||
| Q4 24 | $778.9M | $64.1M | ||
| Q3 24 | $1.5B | $269.4M | ||
| Q2 24 | $1.2B | $216.8M |
现金转化率RNRWTM
| Q1 26 | — | — | ||
| Q4 25 | 0.64× | 0.06× | ||
| Q3 25 | 1.73× | 3.16× | ||
| Q2 25 | 1.76× | 1.44× | ||
| Q1 25 | 0.93× | -1.19× | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.26× | 1.51× | ||
| Q2 24 | 2.41× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
