Symbols / BWIN Stock $20.59 -3.11% The Baldwin Insurance Group, Inc.

Financial Services • Insurance Brokers • United States • NMS
BWIN (Stock) Chart
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Financial Services
Industry Insurance Brokers
CEO Mr. Trevor Lowry Baldwin
Exch · Country NMS · United States
Market Cap 2.01B
Enterprise Value 4.97B
Income -45.41M
Sales 1.62B
FCF (ttm) 118.52M
Book/sh 8.36
Cash/sh 1.50
Employees 5,000
Insider 10d
IPO Oct 24, 2019
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E
Forward P/E 8.20
PEG
P/S 1.24
P/B 2.46
P/C
EV/EBITDA 58.15
EV/Sales 3.06
Quick Ratio 0.86
Current Ratio 1.08
Debt/Eq 158.37
LT Debt/Eq
EPS (ttm) -0.69
EPS next Y 2.51
EPS Growth -90.00%
Revenue Growth 28.70%
EPS Gr Q/Q -83.20%
Rev Gr Q/Q
Earnings (next) 2026-08-04
Earnings (prior) 2026-05-04
ROA -0.95%
ROE -6.23%
ROIC
Gross Margin 30.30%
Oper. Margin -17.47%
Profit Margin -2.80%
Shs Outstand 97.49M
Shs Float 96.42M
Insider Own 2.42%
Instit Own 86.99%
Short Float 15.24%
Short Ratio 7.12
Short Interest 12.98M
52W High 45.16
vs 52W High -54.41%
52W Low 15.88
vs 52W Low 29.66%
Beta 1.23
Impl. Vol. 34.78%
Rel Volume 0.92
Avg Volume 1.77M
Volume 1.63M
Target (mean) $29.56
Tgt Median $26.00
Tgt Low $23.00
Tgt High $40.00
# Analysts 9
Recom Buy
Prev Close $21.25
Price $20.59
Change -3.11%
About

The Baldwin Insurance Group, Inc. operates as an independent insurance distribution firm that delivers insurance and risk management solutions in the United States. The company operates through three segments: Insurance Advisory Solutions; Underwriting, Capacity & Technology Solutions; and Mainstreet Insurance Solutions. Its Insurance Advisory Solutions segment provides private risk management, commercial risk management, employee benefits, and Medicare insurance solutions for businesses and high-net-worth individuals, as well as their families. The Underwriting, Capacity & Technology Solutions segment offers MGA platform, that manufactures technology-enabled insurance product suite comprises personal, commercial, and professional lines. Its Mainstreet Insurance Solutions segment provides personal insurance, commercial insurance, and life and health solutions to individuals and businesses in communities, as well as offers reinsurance brokerage; and consultation for government assistance programs and solutions, including traditional Medicare and Medicare advantage and affordable care act to seniors and eligible individuals through a network of primarily independent contractor agents. The company was formerly known as BRP Group, Inc. and changed its name to The Baldwin Insurance Group, Inc. in May 2024. The Baldwin Insurance Group, Inc. was founded in 2011 and is headquartered in Tampa, Florida.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus Mean price target
2. Current target Latest analyst target
3. DCF / Fair value Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$20.59
Low
$23.00
High
$40.00
Mean
$29.56

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-05-05 main Wells Fargo Equal-Weight → Equal-Weight $24
2026-04-14 main B of A Securities Buy → Buy $36
2026-04-09 main JP Morgan Neutral → Neutral $25
2026-04-09 main Wells Fargo Equal-Weight → Equal-Weight $23
2026-04-07 main Keefe, Bruyette & Woods Outperform → Outperform $26
2026-03-09 main UBS Buy → Buy $40
2026-02-27 up Raymond James Outperform → Strong Buy $30
2026-02-27 main Wells Fargo Equal-Weight → Equal-Weight $21
2026-01-13 main Wells Fargo Equal-Weight → Equal-Weight $27
2026-01-07 main JP Morgan Neutral → Neutral $28
2025-12-12 up Wells Fargo Underweight → Equal-Weight $25
2025-12-05 main Wells Fargo Underweight → Underweight $25
2025-12-04 main BMO Capital Market Perform → Market Perform $33
2025-11-11 main BMO Capital Market Perform → Market Perform $34
2025-11-10 main UBS Buy → Buy $47
2025-11-05 main Wells Fargo Underweight → Underweight $24
2025-10-13 down BMO Capital Outperform → Market Perform $33
2025-10-09 main JP Morgan Neutral → Neutral $34
2025-10-08 main Wells Fargo Underweight → Underweight $28
2025-08-07 down Raymond James Strong Buy → Outperform $40
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-01 KADOW JOSEPH JOHN Director 1,221 $0.00 $0
2026-04-01 SULLIVAN CHRIS THOMAS Director 1,221 $0.00 $0
2026-04-01 SHOOK ELLYN J Director 1,221 $0.00 $0
2026-04-01 MATAS BARBARA RUTH Director 1,221 $0.00 $0
2026-04-01 LICHON CORBYN N. Officer 2,033 $0.00 $0
2026-04-01 COHEN JAY A Director 1,221 $0.00 $0
2026-04-01 WILLIAMS MYRON K. Director 1,221 $0.00 $0
2026-04-01 PARASURAMAN SUNITA Director 1,221 $0.00 $0
2026-04-01 MUTHUKRISHNAN SATHISH Director 1,221 $0.00 $0
2026-04-01 SPARKS PAUL EUGENE Director 2,275 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
1,488.35
+8.15%
1,376.24
+13.95%
1,207.74
+24.57%
969.49
Operating Revenue
1,488.35
+8.15%
1,376.24
+13.95%
1,207.74
+24.57%
969.49
Cost Of Revenue
1,057.24
+2.44%
1,032.05
+13.24%
911.35
+26.67%
719.45
Reconciled Cost Of Revenue
1,057.24
+2.44%
1,032.05
+13.24%
911.35
+26.67%
719.45
Gross Profit
431.11
+25.25%
344.19
+16.13%
296.38
+18.53%
250.05
Operating Expense
351.58
+21.87%
288.50
+3.83%
277.85
+11.66%
248.84
Other Operating Expenses
223.75
+24.60%
179.57
+0.07%
179.45
+10.45%
162.48
Total Expenses
1,408.82
+6.68%
1,320.54
+11.04%
1,189.21
+22.82%
968.28
Operating Income
79.53
+42.79%
55.70
+200.56%
18.53
+1432.84%
1.21
Total Operating Income As Reported
73.94
+21.91%
60.65
+242.53%
-42.55
-36.83%
-31.10
EBITDA
207.36
+25.96%
164.62
+40.78%
116.93
+33.54%
87.57
Normalized EBITDA
218.89
+61.15%
135.83
-23.70%
178.02
+48.50%
119.87
Reconciled Depreciation
127.83
+17.36%
108.92
+10.69%
98.40
+13.95%
86.36
EBIT
79.53
+42.79%
55.70
+200.56%
18.53
+1432.84%
1.21
Total Unusual Items
-11.53
-140.05%
28.79
+147.13%
-61.08
-89.07%
-32.31
Total Unusual Items Excluding Goodwill
-11.53
-140.05%
28.79
+147.13%
-61.08
-89.07%
-32.31
Special Income Charges
-11.53
-140.05%
28.79
+147.13%
-61.08
-89.07%
-32.31
Other Special Charges
6.23
-58.80%
15.11
Restructuring And Mergern Acquisition
5.59
+213.03%
-4.95
-108.10%
61.08
+89.07%
32.31
Net Income
-33.81
-37.91%
-24.52
+72.80%
-90.14
-115.79%
-41.77
Pretax Income
-52.42
-33.23%
-39.35
+75.82%
-162.73
-114.03%
-76.03
Net Non Operating Interest Income Expense
-121.43
+1.79%
-123.64
-3.50%
-119.47
-68.09%
-71.07
Interest Expense Non Operating
119.47
+68.09%
71.07
Net Interest Income
-121.43
+1.79%
-123.64
-3.50%
-119.47
-68.09%
-71.07
Interest Expense
119.47
+68.09%
71.07
Other Income Expense
-10.53
-136.81%
28.59
+146.27%
-61.80
-901.64%
-6.17
Other Non Operating Income Expenses
0.64
+427.32%
-0.19
+72.98%
-0.72
-102.75%
26.14
Gain On Sale Of Business
0.29
-99.26%
38.95
0.00
0.00
Tax Provision
1.73
-0.12%
1.73
+34.71%
1.28
+79.72%
0.71
Tax Rate For Calcs
0.00
+0.00%
0.00
+0.00%
0.00
+0.00%
0.00
Tax Effect Of Unusual Items
-2.42
-140.05%
6.05
+147.13%
-12.83
-89.07%
-6.78
Net Income Including Noncontrolling Interests
-54.15
-31.82%
-41.08
+74.95%
-164.02
-113.71%
-76.75
Net Income From Continuing Operation Net Minority Interest
-33.81
-37.91%
-24.52
+72.80%
-90.14
-115.79%
-41.77
Net Income From Continuing And Discontinued Operation
-33.81
-37.91%
-24.52
+72.80%
-90.14
-115.79%
-41.77
Net Income Continuous Operations
-54.15
-31.82%
-41.08
+74.95%
-164.02
-113.71%
-76.75
Minority Interests
20.34
+22.81%
16.56
-77.58%
73.88
+111.22%
34.98
Normalized Income
-24.70
+47.73%
-47.26
-12.83%
-41.89
-157.76%
-16.25
Net Income Common Stockholders
-33.81
-37.91%
-24.52
+72.80%
-90.14
-115.79%
-41.77
Diluted EPS
-0.50
-28.21%
-0.39
+74.00%
-1.50
-102.70%
-0.74
Basic EPS
-0.50
-28.21%
-0.39
+74.00%
-1.50
-102.70%
-0.74
Basic Average Shares
67.94
+7.07%
63.46
+5.52%
60.13
+5.82%
56.83
Diluted Average Shares
67.94
+7.07%
63.46
+5.52%
60.13
+5.82%
56.83
Diluted NI Availto Com Stockholders
-33.81
-37.91%
-24.52
+72.80%
-90.14
-115.79%
-41.77
Amortization
121.32
+18.09%
102.73
+10.82%
92.70
+13.42%
81.74
Amortization Of Intangibles Income Statement
121.32
+18.09%
102.73
+10.82%
92.70
+13.42%
81.74
Depreciation Amortization Depletion Income Statement
127.83
+17.36%
108.92
+10.69%
98.40
+13.95%
86.36
Depreciation And Amortization In Income Statement
127.83
+17.36%
108.92
+10.69%
98.40
+13.95%
86.36
Depreciation Income Statement
6.51
+5.17%
6.19
+8.70%
5.70
+23.33%
4.62
Earnings From Equity Interest
0.37
0.00
0.00
Total Other Finance Cost
121.43
-1.79%
123.64
+3.50%
119.47
+68.09%
71.07
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
3,862.22
+9.26%
3,534.73
+0.94%
3,501.94
+1.15%
3,462.18
Current Assets
1,199.72
+16.88%
1,026.49
+10.86%
925.90
+19.87%
772.40
Cash Cash Equivalents And Short Term Investments
123.67
+37.34%
90.05
-22.51%
116.21
-1.59%
118.09
Cash And Cash Equivalents
123.67
+37.34%
90.05
-22.51%
116.21
-1.59%
118.09
Receivables
839.17
+19.52%
702.10
+11.84%
627.79
+18.01%
531.99
Accounts Receivable
342.14
+20.66%
283.55
-54.83%
627.79
+18.01%
531.99
Other Receivables
497.04
+18.75%
418.54
Prepaid Assets
9.82
Restricted Cash
223.23
+0.23%
222.72
+112.47%
104.82
-6.72%
112.38
Assets Held For Sale Current
0.00
-100.00%
64.35
0.00
Other Current Assets
13.65
+17.42%
11.62
-8.68%
12.73
+28.12%
9.94
Total Non Current Assets
2,662.50
+6.15%
2,508.24
-2.63%
2,576.03
-4.23%
2,689.78
Net PPE
84.48
-10.45%
94.34
-12.80%
108.19
-11.23%
121.87
Gross PPE
106.77
-6.67%
114.40
-6.35%
122.16
-6.42%
130.53
Accumulated Depreciation
-22.29
-11.13%
-20.06
-43.59%
-13.97
-61.28%
-8.66
Properties
0.00
0.00
0.00
0.00
Land And Improvements
Buildings And Improvements
Machinery Furniture Equipment
7.36
-8.85%
8.07
+11.20%
7.26
+75.75%
4.13
Construction In Progress
3.35
+961.08%
0.32
-88.42%
2.73
+24.57%
2.19
Other Properties
84.06
-11.10%
94.56
-8.88%
103.77
-10.65%
116.14
Leases
12.00
+4.76%
11.45
+36.33%
8.40
+4.06%
8.07
Goodwill And Other Intangible Assets
2,495.61
+5.48%
2,365.86
-2.63%
2,429.71
-3.66%
2,521.98
Goodwill
1,517.17
+7.42%
1,412.37
+0.00%
1,412.37
-0.68%
1,422.06
Other Intangible Assets
978.43
+2.62%
953.49
-6.28%
1,017.34
-7.51%
1,099.92
Other Non Current Assets
82.42
+71.56%
48.04
+25.98%
38.13
-16.98%
45.94
Total Liabilities Net Minority Interest
2,777.82
+9.97%
2,525.93
+1.73%
2,483.05
+6.93%
2,322.14
Current Liabilities
1,032.76
-2.24%
1,056.43
+2.22%
1,033.44
+47.80%
699.21
Payables And Accrued Expenses
838.04
+14.34%
732.94
+13.61%
645.16
+19.85%
538.32
Payables
771.20
+7.95%
714.39
+15.25%
619.87
+18.02%
525.22
Accounts Payable
771.20
+7.95%
714.39
+15.25%
619.87
+18.02%
525.22
Current Accrued Expenses
66.84
+260.44%
18.55
-26.65%
25.28
+92.99%
13.10
Pensionand Other Post Retirement Benefit Plans Current
78.27
+16.76%
67.04
+24.77%
53.73
+19.65%
44.90
Total Tax Payable
0.00
Current Debt And Capital Lease Obligation
39.67
-77.21%
174.06
-28.55%
243.63
+244.14%
70.79
Current Debt
21.58
-86.25%
156.98
-30.82%
226.93
+299.86%
56.75
Other Current Borrowings
21.58
-85.74%
151.35
-32.85%
225.40
+308.14%
55.23
Current Capital Lease Obligation
18.09
+5.91%
17.08
+2.24%
16.70
+18.95%
14.04
Current Deferred Liabilities
67.54
+65.13%
40.90
+35.08%
30.28
-2.26%
30.98
Current Deferred Revenue
38.21
-6.31%
40.78
+34.67%
30.28
-2.26%
30.98
Other Current Liabilities
9.24
-77.74%
41.49
-31.58%
60.65
+326.90%
14.21
Total Non Current Liabilities Net Minority Interest
1,745.06
+18.75%
1,469.50
+1.37%
1,449.62
-10.68%
1,622.94
Long Term Debt And Capital Lease Obligation
1,730.77
+17.99%
1,466.83
+5.67%
1,388.18
-1.02%
1,402.55
Long Term Debt
1,673.12
+19.68%
1,398.05
+6.79%
1,309.18
-0.43%
1,314.86
Long Term Capital Lease Obligation
57.65
-16.17%
68.78
-12.94%
79.00
-9.91%
87.69
Other Non Current Liabilities
14.29
+434.97%
2.67
-95.65%
61.43
-72.12%
220.38
Stockholders Equity
600.22
+2.91%
583.22
+4.07%
560.41
-7.84%
608.10
Common Stock Equity
600.22
+2.91%
583.22
+4.07%
560.41
-7.84%
608.10
Capital Stock
0.72
+5.55%
0.69
+6.04%
0.65
+4.36%
0.62
Common Stock
0.72
+5.55%
0.69
+6.04%
0.65
+4.36%
0.62
Share Issued
71.78
+5.59%
67.98
+6.00%
64.13
+4.37%
61.45
Ordinary Shares Number
71.78
+5.59%
67.98
+6.00%
64.13
+4.37%
61.45
Additional Paid In Capital
844.24
+6.33%
793.95
+6.33%
746.67
+6.02%
704.29
Retained Earnings
-245.24
-15.99%
-211.42
-13.12%
-186.91
-93.16%
-96.76
Gains Losses Not Affecting Retained Earnings
0.49
0.00
Minority Interest
484.18
+13.77%
425.58
-7.17%
458.47
-13.81%
531.93
Other Equity Adjustments
0.49
Total Equity Gross Minority Interest
1,084.40
+7.49%
1,008.80
-0.99%
1,018.88
-10.63%
1,140.04
Total Capitalization
2,273.34
+14.74%
1,981.27
+5.97%
1,869.60
-2.78%
1,922.97
Working Capital
166.96
+657.57%
-29.94
+72.15%
-107.53
-246.92%
73.19
Invested Capital
2,294.92
+7.33%
2,138.25
+1.99%
2,096.52
+5.90%
1,979.72
Total Debt
1,770.44
+7.90%
1,640.89
+0.56%
1,631.81
+10.76%
1,473.35
Net Debt
1,571.03
+7.24%
1,464.99
+3.18%
1,419.90
+13.27%
1,253.52
Capital Lease Obligations
75.74
-11.78%
85.85
-10.29%
95.70
-5.93%
101.73
Net Tangible Assets
-1,895.39
-6.32%
-1,782.64
+4.64%
-1,869.30
+2.33%
-1,913.87
Tangible Book Value
-1,895.39
-6.32%
-1,782.64
+4.64%
-1,869.30
+2.33%
-1,913.87
Current Notes Payable
0.00
-100.00%
5.63
+269.51%
1.52
+0.00%
1.52
Duefrom Related Parties Current
0.11
Interest Payable
9.45
+52.52%
6.19
+208.31%
2.01
Other Equity Interest
-0.04
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-29.42
-157.17%
51.45
+111754.35%
0.05
+101.87%
-2.46
Cash Flow From Continuing Operating Activities
-29.42
-157.17%
51.45
+111754.35%
0.05
+101.87%
-2.46
Net Income From Continuing Operations
-54.15
-31.82%
-41.08
+74.95%
-164.02
-113.71%
-76.75
Depreciation Amortization Depletion
127.83
+17.36%
108.92
+10.69%
98.40
+13.95%
86.36
Depreciation And Amortization
127.83
+17.36%
108.92
+10.69%
98.40
+13.95%
86.36
Other Non Cash Items
-75.10
-247.79%
-21.59
-149.17%
43.92
+455.20%
-12.36
Stock Based Compensation
71.11
+8.56%
65.50
+9.16%
60.01
+26.63%
47.39
Operating Gains Losses
-0.26
+99.30%
-37.92
-2370.60%
1.67
+106.37%
-26.22
Gain Loss On Investment Securities
0.24
-85.39%
1.67
+106.37%
-26.22
Change In Working Capital
-98.84
-341.65%
-22.38
+41.51%
-38.26
-83.27%
-20.88
Change In Receivables
-45.06
-6.25%
-42.41
+15.69%
-50.30
+72.51%
-183.01
Changes In Account Receivables
-45.06
-6.25%
-42.41
+15.69%
-50.30
+72.51%
-183.01
Change In Prepaid Assets
-9.66
-33.92%
-7.21
-5.31%
-6.85
+34.04%
-10.38
Change In Payables And Accrued Expense
-11.22
-2199.18%
-0.49
-108.01%
6.09
-96.49%
173.36
Change In Payable
-11.22
-2199.18%
-0.49
-108.01%
6.09
-96.49%
173.36
Change In Account Payable
-11.22
-2199.18%
-0.49
-108.01%
6.09
-96.49%
173.36
Change In Other Working Capital
0.94
Change In Other Current Assets
16.01
-4.17%
16.70
-7.01%
17.96
+233.14%
-13.49
Change In Other Current Liabilities
-48.91
-543.43%
11.03
+313.57%
-5.16
-140.85%
12.64
Investing Cash Flow
-140.28
-1154.79%
13.30
+160.67%
-21.92
+94.71%
-414.36
Cash Flow From Continuing Investing Activities
-140.28
-1154.79%
13.30
+160.67%
-21.92
+94.71%
-414.36
Capital Expenditure
-39.53
+3.71%
-41.05
-92.03%
-21.38
+2.74%
-21.98
Capital Expenditure Reported
-39.53
+3.71%
-41.05
-92.03%
-21.38
+2.74%
-21.98
Net Business Purchase And Sale
-100.29
-288.81%
53.12
+3278.88%
1.57
+100.40%
-389.02
Purchase Of Business
-102.19
-2546.72%
-3.86
-128.87%
-1.69
+99.57%
-389.02
Gain Loss On Sale Of Business
-0.29
+99.26%
-38.95
0.00
0.00
Net Other Investing Changes
-0.46
-137.34%
1.23
+158.17%
-2.12
+36.89%
-3.36
Financing Cash Flow
203.82
+868.09%
21.05
+14.62%
18.37
-95.62%
419.55
Cash Flow From Continuing Financing Activities
203.82
+868.09%
21.05
+14.62%
18.37
-95.62%
419.55
Net Issuance Payments Of Debt
274.81
+186.07%
96.06
+2945.44%
-3.38
-100.73%
461.49
Issuance Of Debt
2,204.92
+42.62%
1,546.00
+450.18%
281.00
-45.12%
512.00
Repayment Of Debt
-1,930.12
-33.12%
-1,449.94
-409.87%
-284.38
-463.02%
-50.51
Long Term Debt Issuance
2,204.92
+42.62%
1,546.00
+450.18%
281.00
-45.12%
512.00
Long Term Debt Payments
-1,930.12
-33.12%
-1,449.94
-409.87%
-284.38
-463.02%
-50.51
Net Long Term Debt Issuance
274.81
+186.07%
96.06
+2945.44%
-3.38
-100.73%
461.49
Short Term Debt Issuance
512.00
Short Term Debt Payments
-42.00
Net Short Term Debt Issuance
470.00
Net Common Stock Issuance
0.00
0.00
Common Stock Payments
0.00
Common Stock Dividend Paid
-0.26
+31.43%
-0.39
0.00
Cash Dividends Paid
-0.26
+31.43%
-0.39
0.00
Repurchase Of Capital Stock
0.00
Net Other Financing Charges
-70.98
+5.36%
-75.01
-444.96%
21.74
+151.85%
-41.94
Changes In Cash
34.13
-60.23%
85.81
+2546.01%
-3.51
-228.31%
2.73
Beginning Cash Position
312.77
+37.81%
226.96
-1.52%
230.47
+1.20%
227.74
End Cash Position
346.90
+10.91%
312.77
+37.81%
226.96
-1.52%
230.47
Free Cash Flow
-68.94
-762.68%
10.40
+148.78%
-21.33
+12.73%
-24.44
Interest Paid Supplemental Data
115.28
+3.48%
111.40
+5.70%
105.39
+68.07%
62.70
Income Tax Paid Supplemental Data
1.70
-38.07%
2.75
+91.96%
1.43
+0.78%
1.42
Common Stock Issuance
0.00
0.00
Issuance Of Capital Stock
0.00
0.00
Sale Of Business
1.90
-96.66%
56.98
+1648.30%
3.26
0.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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