Baldwin Insurance Group
BWIN
31.81
-0.02
-0.06%
Baldwin Insurance Group
US · BWIN
#2474 by market cap
Listed 1970
31.81
-0.02
-0.06%
Live - 5344 symbols - heartbeat 189s ago
· 2026-10-08 08:24
Pre-market
32.02
+0.66%
After-hours
31.81
0.00%
- Market cap
- 3.08B
- P/E (TTM)i
- -30.59
- P/Bi
- 3.48
- EPSi
- -0.50
- Div yieldi
- 0.00%
- 52W posi
- 95%
Reader sentiment
Are you bullish or bearish on BWIN?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Weak
- Altman Z-Score is 1.09, below the 1.8 "distress zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +8.34% YoY
Margins
- Gross margin
- 28.97%
- Operating margin
- 5.34%
- Net margin
- -2.27%
Key ratios & quality
- Enterprise valuei
- 4.67B
- Altman Z-Scorei
- 1.09
Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 79.88M | 137.84M | 240.92M | 567.29M | 980.72M | 1.22B | 1.39B | 1.50B |
| Gross profit | 27.19M | 37.96M | 57.57M | 159.92M | 250.05M | 296.39M | 344.20M | 431.11M |
| Selling & admin expenses | 14.38M | -- | -- | -- | -- | -- | -- | -- |
| Research & development | -- | -- | -- | -- | -- | -- | -- | -- |
| Operating profit | 10.76M | 5.76M | -1.42M | 13.57M | 1.21M | 18.53M | 55.70M | 79.53M |
| Pretax profit | 2.69M | -22.44M | -29.89M | -58.10M | -76.03M | -162.73M | -39.35M | -52.43M |
| Tax | 0 | 17.00K | -5.00K | 19.00K | 715.00K | 1.29M | 1.73M | 1.73M |
| Net profit | 2.69M | -22.45M | -29.89M | -58.12M | -76.75M | -164.02M | -41.08M | -54.15M |
| Basic EPS | 0 | 0 | -1 | -1 | -1 | -2 | 0 | -1 |
| Diluted EPS | -0.01 | -0.48 | -0.58 | -0.64 | -0.74 | -1.50 | -0.39 | -0.50 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 413.41M | 378.81M | 365.39M | 347.28M | 532.24M | 492.94M |
| Gross profit | 144.69M | 105.26M | 90.47M | 90.70M | 178.15M | 152.02M |
| Selling & admin expenses | -- | -- | -- | -- | -- | -- |
| Research & development | -- | -- | -- | -- | -- | -- |
| Operating profit | 64.08M | 25.98M | 5.20M | -15.73M | -99.30M | 3.96M |
| Pretax profit | 24.90M | -4.46M | -30.24M | -42.63M | -146.42M | -55.90M |
| Tax | 0 | 685.00K | 0 | 1.04M | -144.52M | 84.00K |
| Net profit | 24.90M | -5.14M | -30.24M | -43.67M | -1.90M | -55.98M |
| Basic EPS | 0 | 0 | 0 | 0 | 0 | 0 |
| Diluted EPS | 0.20 | -0.05 | -0.27 | -0.37 | 0.02 | -0.42 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 38.59M | 132.93M | 301.99M | 578.39M | 772.40M | 925.91M | 1.03B | 1.20B |
| Cash & ST investments | 8.00M | 67.69M | 108.46M | 138.29M | 118.09M | 116.21M | 90.05M | 123.67M |
| Inventory | -- | -- | -- | -- | -- | -- | -- | -- |
| Total assets | 139.83M | 398.77M | 1.53B | 2.88B | 3.46B | 3.50B | 3.53B | 3.86B |
| Total current liabilities | 33.23M | 72.83M | 217.42M | 540.69M | 699.21M | 1.03B | 1.06B | 1.03B |
| Short-term debt | 829.00K | 2.48M | 10.09M | 117.63M | 70.79M | 243.63M | 174.06M | 39.67M |
| Long-term debt | 72.24M | 40.36M | 381.38M | 849.61M | 1.31B | 1.31B | 1.40B | 1.67B |
| Total liabilities | 156,376,000.00 | 161,494,000.00 | 759,946,000.00 | 1,688,751,000.00 | 2,322,143,000.00 | 2,483,055,000.00 | 2,525,934,000.00 | 2,777,822,000.00 |
| Total equity | -16.55M | 237.27M | 769.97M | 1.19B | 1.14B | 1.02B | 1.01B | 1.08B |
| Retained earnings | -63.61M | -8.65M | -24.35M | -54.99M | -96.76M | -186.91M | -211.42M | -245.24M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 1.06B | 1.24B | 1.11B | 1.20B | 1.59B | 1.85B |
| Cash & ST investments | 81.78M | 105.70M | 89.72M | 123.67M | 146.41M | 184.50M |
| Inventory | -- | -- | -- | -- | -- | -- |
| Total assets | 3.55B | 3.74B | 3.79B | 3.86B | 5.94B | 6.17B |
| Total current liabilities | 933.42M | 1.01B | 959.71M | 1.03B | 1.47B | 1.72B |
| Short-term debt | 71.58M | 33.43M | 44.72M | 39.67M | 153.78M | 158.98M |
| Long-term debt | 1.50B | 1.61B | 1.63B | 1.67B | 2.34B | 2.45B |
| Total liabilities | 2,500,312,000.00 | 2,688,616,000.00 | 2,665,584,000.00 | 2,777,822,000.00 | 4,390,973,000.00 | 4,752,937,000.00 |
| Total equity | 1.05B | 1.05B | 1.13B | 1.08B | 1.55B | 1.42B |
| Retained earnings | -197.48M | -200.65M | -219.38M | -245.24M | -274.87M | -368.47M |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 11.79M | 12.01M | 36.82M | 40.13M | -2.46M | 46.00K | 51.45M | -29.42M |
| Depreciation & amortization | 3.09M | 10.55M | 20.17M | 51.51M | 86.36M | 98.40M | 108.92M | 127.83M |
| Free cash flow | 11.27M | 10.30M | 31.35M | 34.81M | -24.44M | -21.33M | 10.40M | -68.95M |
| Dividends paid | -9.95M | -10.55M | -- | 0 | 0 | -- | -- | -- |
| Stock buybacks / issuance | 200.00K | 202.38M | 373.30M | 269.38M | -- | -- | -- | -- |
| Ending cash balance | 8.00M | 71.07M | 142.02M | 227.74M | 230.47M | 226.96M | 312.77M | 346.90M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | -63.98M | -16.72M | 41.02M | 10.27M | -6.07M | 45.56M |
| Depreciation & amortization | 27.47M | 27.65M | 32.04M | 40.67M | 57.08M | 58.80M |
| Free cash flow | -72.92M | -28.10M | 32.15M | -84.00K | -18.74M | 30.38M |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | 0 | 0 | -- | -- | -46.97M | -79.87M |
| Ending cash balance | 299.06M | 383.70M | 325.94M | 346.90M | 456.12M | 610.69M |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | -- | -180.41 | -7.12 | -6.28 | -6.87 | -15.43 | -4.29 | -5.71 |
| ROA %i | 1.03 | -3.21 | -1.63 | -1.39 | -1.32 | -2.59 | -0.70 | -0.91 |
| ROIC %i | -- | -13.78 | -3.59 | -2.55 | -2.24 | -4.22 | -1.11 | -1.47 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -43.22 | -8.00 | -7.72 |
| EBIT margin %i | 13.64 | 4.27 | -0.61 | 2.43 | 0.12 | 1.53 | 4.05 | 5.34 |
| FCF / sales %i | 14.29 | 7.63 | 13.53 | 6.23 | -- | 1.93 | 4.44 | -- |
| Current ratioi | 1.16 | 1.83 | 1.39 | 1.07 | 1.10 | 0.90 | 0.97 | 1.16 |
| Quick ratioi | 1.13 | 1.74 | 1.21 | 0.89 | 0.93 | 0.72 | 0.75 | 0.93 |
| Debt / assetsi | 52.26 | 10.74 | 25.59 | 36.11 | 42.56 | 46.60 | 46.42 | 45.84 |
| LT debt / equityi | -- | 55.08 | 103.70 | 151.38 | 230.64 | 247.71 | 251.51 | 288.36 |
| Interest coveragei | -- | -- | -- | -- | -- | -- | -- | -- |
| Revenue CAGR (3Y) %i | -- | -- | 69.78 | 92.22 | 92.97 | 73.39 | 34.95 | 15.36 |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | 60.48 | 45.64 | -- | -- | -33.14 | -- |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | -5.28 | -2.91 | -4.63 | -5.71 | -5.74 | -10.72 |
| ROA %i | -0.91 | -0.48 | -0.77 | -0.91 | -0.96 | -1.64 |
| ROIC %i | -1.43 | -0.77 | -1.21 | -1.47 | -1.57 | -2.75 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 5.18 | 5.33 | 4.60 | 5.34 | -5.21 | -6.15 |
| FCF / sales %i | -- | -- | -- | -- | -- | 2.54 |
| Current ratioi | 1.13 | 1.23 | 1.15 | 1.16 | 1.08 | 1.07 |
| Quick ratioi | 0.88 | 0.94 | 0.89 | 0.93 | 0.86 | 0.81 |
| Debt / assetsi | 46.09 | 45.59 | 45.84 | 45.84 | 43.29 | 43.51 |
| LT debt / equityi | 252.42 | 264.91 | 273.44 | 288.36 | 250.95 | 285.82 |
| Interest coveragei | -- | -- | -- | -- | -- | -- |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Lead segment, long tail
- Insurance Advisory Solutions is the largest reported line at 55.86% of revenue, across 4 reported segments.
- Underwriting, Capacity & Technology Solutions follows at 32.51%, so the top line still matters most but isn’t the whole story.
Revenue breakdown most recent period
Business
Insurance Advisory Solutions55.86%
Underwriting, Capacity & Technology Solutions32.51%
Mainstreet Insurance Solutions15.28%
Quote time 2026-10-08 08:24:46 · For reference only, not investment advice and not tailored to your situation.