Baldwin Insurance Group, Inc.
Baldwin Insurance Group, Inc.
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets | |||||||||||||||||
Assets Current | |||||||||||||||||
Restricted Cash Current | - | - | - | - | - | 165 | 163 | 152 | 122 | 105 | 115 | 107 | |||||
Premiums Receivable At Carrying Value | 670 | 497 | 416 | 491 | 408 | 419 | 656 | 763 | 702 | 628 | 595 | 594 | |||||
Assets Of Disposal Group Including Discontinued Op… | - | - | - | - | - | 0 | 0 | 0 | 0 | 64 | - | - | |||||
Property Plant And Equipment Net | 31 | 23 | 21 | 21 | 22 | 22 | 21 | 22 | 23 | 23 | 24 | 24 | |||||
Liabilities Mezzanine Equ… | |||||||||||||||||
Liabilities | |||||||||||||||||
Liabilities Current | |||||||||||||||||
Business Combination Contingent Consideration Liab… | 115 | 9 | 17 | 7 | 45 | 143 | 201 | 204 | 230 | 215 | 98 | 116 | |||||
Liabilities Of Disposal Group Including Discontinu… | - | - | - | - | - | 0 | 0 | 0 | 0 | 44 | - | - | |||||
Line Of Credit | 191 | - | 66 | 112 | - | - | - | - | - | - | - | - | |||||
Secured Long Term Debt | 2,153 | 1,566 | 1,568 | 1,495 | 1,496 | 1,398 | 1,399 | 1,400 | 967 | 968 | 970 | 808 | |||||
Business Combination Contingent Consideration Liab… | 220 | 14 | 11 | 10 | 3 | 3 | 3 | 6 | 6 | 61 | 176 | 178 | |||||
Operating Lease Liability Noncurrent | 75 | 58 | 61 | 64 | 68 | 69 | 69 | 74 | 78 | 79 | 82 | 85 | |||||
Deferred Income Tax Liabilities Net | 5 | - | - | - | - | - | - | - | - | - | - | - | |||||
Other Liabilities Noncurrent | 128 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Liabilities | 4,391 | 2,778 | 2,666 | 2,689 | 2,500 | 2,526 | 2,502 | 2,637 | 2,438 | 2,483 | 2,350 | 2,368 | |||||
Mezzanine Equity | |||||||||||||||||
Redeemable Noncontrolling Interest Equity Carrying… | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Stockholders Equity Inclu… | |||||||||||||||||
Stockholders Equity | |||||||||||||||||
Additional Paid In Capital | 1,235 | 844 | 837 | 831 | 816 | 794 | 786 | 773 | 763 | 747 | 743 | 733 | |||||
Receivable From Shareholders Or Affiliates For Iss… | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | |||||
Retained Earnings Accumulated Deficit | -275 | -245 | -219 | -201 | -197 | -211 | -191 | -183 | -165 | -187 | -152 | -135 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | 3 | 0 | 1 | - | - | 0 | - | - | - | - | - | - | |||||
Stockholders Equity | 964 | 1,084 | 1,128 | 631 | 620 | 583 | 595 | 591 | 598 | 560 | 1,074 | 599 | |||||
Minority Interest | 587 | 484 | 508 | 419 | 428 | 425 | 441 | 452 | 473 | 458 | 483 | 498 | |||||
Liabilities And Stockholders Equity | 5,943 | 3,862 | 3,794 | 3,739 | 3,549 | 3,535 | 3,539 | 3,680 | 3,510 | 3,502 | 3,423 | 3,465 | |||||
Variable Interest Entity Primary Beneficiary | 2 | - | 4 | - | - | - | - | - | - | - | - | - | |||||
Common Class A | 97 | 0 | 0 | 1 | 70 | 0 | 1 | 1 | 65 | 0 | 1 | 1 | |||||
Common Class B | 45 | 0 | -0 | -1 | 48 | 0 | -1 | -1 | 52 | 0 | -1 | -1 | |||||
Cash And Cash Equivalents At Carrying Value | 146 | 124 | 90 | 106 | 82 | 90 | 182 | 208 | 112 | 116 | 79 | 106 | |||||
Prepaid Expense And Other Assets Current | 21 | 14 | 18 | 15 | 17 | 12 | 13 | 14 | 15 | 13 | 12 | 12 | |||||
Assets Current | 1,594 | 1,200 | 1,106 | 1,240 | 1,056 | 1,026 | 1,014 | 1,137 | 951 | 926 | 802 | 818 | |||||
Operating Lease Right Of Use Asset | 83 | 62 | 64 | 67 | 71 | 72 | 75 | 79 | 83 | 85 | 89 | 93 | |||||
Other Assets Noncurrent | 96 | 82 | 69 | 65 | 49 | 48 | 47 | 44 | 40 | 38 | 42 | 45 | |||||
Intangible Assets Net Excluding Goodwill | 1,485 | 978 | 1,017 | 926 | 938 | 953 | 969 | 985 | 1,000 | 1,017 | 1,045 | 1,063 | |||||
Goodwill | 2,652 | 1,517 | 1,516 | 1,421 | 1,412 | 1,412 | 1,412 | 1,412 | 1,412 | 1,412 | 1,422 | 1,422 | |||||
Assets | 5,943 | 3,862 | 3,794 | 3,739 | 3,549 | 3,535 | 3,539 | 3,680 | 3,510 | 3,502 | 3,423 | 3,465 | |||||
Accrued Sales Commission Current | 93 | 51 | 69 | 72 | 87 | 73 | 71 | 74 | 86 | 64 | 66 | 65 | |||||
Accounts Payable And Accrued Liabilities Current | 286 | 253 | 222 | 158 | 157 | 161 | 164 | 132 | 132 | 145 | 131 | 110 | |||||
Notes Payable Current | - | 0 | 0 | 0 | 0 | 6 | 6 | 6 | 6 | 2 | 2 | 2 | |||||
Accrued Bonuses Current And Noncurrent | - | 0 | 0 | 1 | 18 | 33 | - | - | - | 8 | - | - | |||||
Liabilities Current | 1,474 | 1,033 | 960 | 1,007 | 933 | 1,056 | 1,032 | 1,156 | 1,053 | 1,033 | 798 | 827 | |||||
Long Term Line Of Credit | - | 107 | - | - | - | 0 | 0 | 0 | 334 | 341 | 324 | 470 | |||||
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Interactive Financial Visualizations
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -11.61% | 19.34% | 20.48% | - | - | - | - | - | - | - | - | - |
| 2025 | -5.82% | 4.38% | -0.66% | -13.14% | -21.50% | -35.63% | 23.90% | 11.26% | 9.21% | 17.04% | 35.42% | 8.27% |
| 2024 | 20.16% | 26.54% | 54.62% | 12.99% | 21.01% | 21.06% | 6.04% | -15.88% | -12.32% | 10.11% | 5.69% | -1.61% |
| 2023 | -8.72% | 4.34% | 4.80% | 10.34% | -5.07% | -13.81% | -20.11% | 9.03% | 11.21% | 7.03% | 0.95% | 19.50% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 1.08 | 1.16 | 1.15 | 1.23 | 1.13 | 0.97 | 0.98 | 0.98 | 0.90 | 0.90 | 1.00 | 0.99 | |||||
| Quick Ratio | 1.07 | 1.15 | 1.13 | 1.22 | 1.11 | 0.96 | 0.97 | 0.97 | 0.89 | 0.88 | 0.99 | 0.98 | |||||
| Working Capital | 120.03M | 166.96M | 146.48M | 232.22M | 122.40M | -29.94M | -17.27M | -19.05M | -101.85M | -107.54M | 3.62M | -8.89M | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 4.56 | 2.56 | 2.36 | 4.26 | 4.04 | 2.51 | 4.20 | 4.46 | 4.08 | 2.44 | 2.19 | 3.96 | |||||
| Interest Coverage TTM | -0.64 | 0.61 | 0.67 | 0.77 | 0.68 | 0.49 | 0.29 | 0.17 | -0.10 | -0.36 | -0.70 | -1.06 | |||||
| Debt Ratio | 0.74 | 0.72 | 0.70 | 0.72 | 0.70 | 0.71 | 0.71 | 0.72 | 0.69 | 0.71 | 0.69 | 0.68 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 0.34 | 0.41 | 0.41 | 0.39 | 0.40 | 0.39 | 0.39 | 0.37 | 0.36 | 0.35 | 0.34 | 0.33 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | -0.63 | -0.50 | -0.42 | -0.10 | -0.31 | -0.39 | -0.11 | -0.26 | -0.65 | -1.50 | -3.18 | -3.32 | |||||
| Free Cash Flow Per Share TTM | -0.16 | -1.01 | -1.21 | -1.37 | -0.87 | 0.16 | 0.62 | -0.01 | 0.58 | 0.39 | 0.27 | 0.26 | |||||
| Dividend Per Share TTM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 46.83% | 48.33% | 46.25% | 46.68% | 46.51% | 45.13% | 41.62% | 36.42% | 30.51% | 25.21% | 25.84% | 25.07% | |||||
| Operating Profit Margin TTM | -5.13% | 4.91% | 5.49% | 6.43% | 5.81% | 4.37% | 2.71% | 1.61% | -0.94% | -3.49% | -6.73% | -9.64% | |||||
| Net Profit Margin TTM | -3.73% | -2.25% | -1.93% | -0.47% | -1.49% | -1.77% | -0.55% | -1.27% | -3.37% | -7.40% | -16.35% | -17.63% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 14.38% | 8.34% | 10.74% | 11.66% | 11.88% | 13.99% | 14.02% | 15.47% | 18.74% | 24.25% | 31.78% | 47.14% | |||||
| Net Income Growth (1Y) | 185.91% | 37.91% | 289.95% | -59.01% | -50.37% | -72.80% | -96.18% | -91.69% | -71.03% | 17.45% | -1,735.24% | -1,768.86% | |||||
| EPS Growth (1Y) | 101.38% | 28.81% | 263.84% | -61.96% | -53.53% | -74.22% | -96.39% | -92.09% | -72.51% | 10.99% | -1,647.01% | -1,662.70% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | -33.96 | -48.28 | -67.52 | -427.85 | -139.28 | -100.31 | -433.65 | -134.86 | -41.91 | -16.02 | -7.30 | -7.46 | |||||
| P/B TTM | 2.13 | 1.51 | 1.72 | 4.62 | 4.76 | 2.44 | 5.35 | 3.79 | 2.99 | 1.42 | 1.31 | 2.49 | |||||
| P/S TTM | 1.27 | 1.08 | 1.30 | 1.99 | 2.08 | 1.77 | 2.37 | 1.71 | 1.41 | 1.19 | 1.19 | 1.31 | |||||
| Market Cap | 2.06B | 1.63B | 1.94B | 2.91B | 2.95B | 2.46B | 3.19B | 2.24B | 1.79B | 1.44B | 1.41B | 1.49B | |||||
| Enterprise Value | 3.76B | 2.85B | 3.18B | 4.02B | 4.15B | 3.55B | 4.25B | 3.28B | 2.53B | 2.19B | 2.18B | 2.09B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | -14.77M | -68.95M | -83.31M | -93.25M | -57.37M | 10.40M | 39.48M | -894.00K | 35.66M | 23.27M | 16.25M | 15.57M | |||||
| Net Debt | 1.70B | 1.22B | 1.24B | 1.11B | 1.20B | 1.09B | 1.06B | 1.05B | 738.34M | 742.75M | 776.84M | 596.30M | |||||
Per-Share and Margin | |||||||||||||||||
| EPS TTM | |||||||||||||||||
| Adjusted EPS TTM | |||||||||||||||||
| Cash Flow Per Share TTM | |||||||||||||||||
| Pretax Margin TTM | |||||||||||||||||
| Stock Comp to Revenue TTM | |||||||||||||||||
Turnover Ratios and Averages | |||||||||||||||||
| Average Assets | |||||||||||||||||
| Average Equity | |||||||||||||||||
| Average Inventory | |||||||||||||||||
| Average Receivables | |||||||||||||||||
| Average Accounts Payables | |||||||||||||||||
| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
| Days Inventory Outstanding TTM | |||||||||||||||||
| Days Payables Outstanding TTM | |||||||||||||||||
| Cash Conversion Cycle TTM | |||||||||||||||||
| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
| Total Assets Growth (3Y) | |||||||||||||||||
| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
| Dividends Paid Growth (3Y) | |||||||||||||||||
| Dividends Paid Growth (5Y) | |||||||||||||||||
| EPS Growth (3Y) | |||||||||||||||||
| EPS Growth (5Y) | |||||||||||||||||
| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
| Net Profit Margin Growth (3Y) | |||||||||||||||||
| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
| Altman B | |||||||||||||||||
| Altman C | |||||||||||||||||
| Altman D | |||||||||||||||||
| Altman E | |||||||||||||||||
| Altman Z-Score | |||||||||||||||||
| ROA TTM | |||||||||||||||||
| ROE TTM | |||||||||||||||||
| NOPAT TTM | |||||||||||||||||
| ROIC TTM | |||||||||||||||||
| Effective Tax Rate TTM | |||||||||||||||||
| Payout Ratio TTM | |||||||||||||||||
| Dilution Ratio | |||||||||||||||||
| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
| P/CF TTM | |||||||||||||||||
| Dividend Yield TTM | |||||||||||||||||
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| EV EBITDA TTM | |||||||||||||||||
| EV EBIT TTM | |||||||||||||||||
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| Adjusted Net Income TTM | |||||||||||||||||
| Billings TTM | |||||||||||||||||
| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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Insider Transactions
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Institutional Ownership
Baldwin Insurance Group, Inc. (BWIN) — SEC Financial Statements & Analysis
Baldwin Insurance Group, Inc. (BWIN) is a insurance agents, brokers & service company, incorporated in DE. Baldwin Insurance Group, Inc. trades on Nasdaq as: BWIN. Based on its latest SEC filing (Form 10-Q, period ending 2026-03-31), Baldwin Insurance Group, Inc. reported a 14.38% year-over-year revenue growth, a Gross Profit Margin of 46.83% (TTM), a Debt-to-Equity ratio of 4.56x, a Price-to-Sales (P/S) ratio of 1.27x (TTM), a Price-to-Book (P/B) ratio of 2.13 (TTM), at a market cap of $2.06B. Figures below are sourced from SEC EDGAR, as-filed.
- Net Revenue TTM Growth 1Y
- 14.38%
- Gross Profit Margin TTM
- 46.83%
- Debt To Equity
- 4.56x
- P/S TTM
- 1.27x
- P/B TTM
- 2.13
- Market Cap
- $2.06B
Data as of 2026-03-31 · Source: SEC EDGAR
Frequently Asked Questions
What industry is Baldwin Insurance Group, Inc. in?
Baldwin Insurance Group, Inc. (BWIN) operates in the Insurance Agents, Brokers & Service industry.
What is BWIN's market cap?
Baldwin Insurance Group, Inc. (BWIN) has a market capitalization of $2.06B as of 2026-03-31.
What exchange does BWIN trade on?
Baldwin Insurance Group, Inc. (BWIN) trades on the Nasdaq.
Where is Baldwin Insurance Group, Inc. incorporated?
Baldwin Insurance Group, Inc. is incorporated in DE.