BWIN
$31.89+0.06%
The Baldwin Insurance Group Inc.Stock · FinancialsRussell 2000 · 0.08% of IWMNasdaq Composite · 0.005% of ONEQRussell 3000 · 0.003% of IWVUS Stock Market · 0.003% of VTI
BWIN financial statements
The full income statement, balance sheet, and cash-flow statement for The Baldwin Insurance Group Inc. (BWIN), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 117.5M2024-09 117.5M2024-12 117.5M2025-03 118.1M2025-06 118.6M2025-09 118.6M2025-12 118.5M2026-03 141.9M2026-06 139.4M+18.7% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 1.49B+8.5% | 1.38B+13.6% | 1.21B+23.6% | 981M+72.9% | 567M | |
| 183M+31.9% | 139M-1.0% | 140M+10.6% | 127M | — | ||
| Amortization of intangibles | 121M+18.1% | 103M+10.8% | 92.7M+13.4% | 81.7M+67.8% | 48.7M+155.9% | |
| Operating income | 73.9M+21.9% | 60.6M+242.5% | -42.6M-36.8% | -31.1M+1.7% | -31.6M-44.2% | |
| Net interest income | -121M+1.8% | -124M-3.5% | -119M-68.1% | -71.1M-164.2% | -26.9M-242.4% | |
| Other non-operating income | 635K+427.3% | -194K+73.0% | -718K-102.7% | 26.1M+6064.4% | 424K+105.3% | |
| Equity-method income | 368K | 0.00 | 0.00 | — | — | |
| Pre-tax income | -52.4M-33.2% | -39.4M+75.8% | -163M-114.0% | -76.0M-30.9% | -58.1M-94.4% | |
| Income tax | 1.73M-0.1% | 1.73M+34.7% | 1.28M+79.7% | 715K+3663.2% | 19.0K+480.0% | |
| -33.8M-37.9% | -24.5M+72.8% | -90.1M-115.8% | -41.8M-36.3% | -30.6M-95.2% | ||
| Net income to non-controlling interest | -20.3M-22.8% | -16.6M+77.6% | -73.9M-111.2% | -35.0M-27.3% | -27.5M-93.6% | |
| Net income to common | -33.8M-37.9% | -24.5M+72.8% | -90.1M-115.8% | -41.8M-36.3% | -30.6M-95.2% | |
| -$0.50-28.2% | -$0.39+74.0% | -$1.50-102.7% | -$0.74-15.6% | -$0.64-10.3% | ||
| EPS (basic) | -$0.50-28.2% | -$0.39+74.0% | -$1.50-102.7% | -$0.74-15.6% | -$0.64-10.3% | |
| Weighted-avg shares (basic) | 67.9M+7.1% | 63.5M+5.5% | 60.1M+5.8% | 56.8M+19.4% | 47.6M+75.1% | |
| Weighted-avg shares (diluted) | 67.9M+7.1% | 63.5M+5.5% | 60.1M+5.8% | 56.8M+19.4% | 47.6M+75.1% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.20B+16.9% | 1.03B+10.9% | 926M+19.9% | 772M+33.5% | 578M+91.5% | ||
| Cash & equivalents | 124M+37.3% | 90.0M-22.5% | 116M-1.6% | 118M-14.6% | 138M+27.5% | |
| Prepaid expenses | 13.7M+17.4% | 11.6M-8.7% | 12.7M+28.1% | 9.94M+21.9% | 8.15M+83.3% | |
| Other current assets | — | — | — | 100K | — | |
| 3.86B+9.3% | 3.53B+0.9% | 3.50B+1.1% | 3.46B+20.4% | 2.88B+88.0% | ||
| Property, plant & equipment | 22.5M+2.4% | 22.0M-3.3% | 22.7M-10.6% | 25.4M+45.4% | 17.5M+58.6% | |
| Operating lease right-of-use | 62.0M-14.4% | 72.4M-15.3% | 85.5M-11.4% | 96.5M+18.2% | 81.6M | |
| Goodwill | 1.52B+7.4% | 1.41B+0.0% | 1.41B-0.7% | 1.42B+15.7% | 1.23B+88.6% | |
| Intangible assets | 978M+2.6% | 953M-6.3% | 1.02B-7.5% | 1.10B+16.5% | 944M+70.4% | |
| Other non-current assets | 82.4M+71.6% | 48.0M+26.0% | 38.1M-17.0% | 45.9M+79.5% | 25.6M+130.8% | |
| 1.03B-2.2% | 1.06B+2.2% | 1.03B+47.8% | 699M+29.3% | 541M+148.7% | ||
| Accrued liabilities | 57.4M+364.7% | 12.4M-46.9% | 23.3M+77.7% | 13.1M+34.6% | 9.73M-25.3% | |
| Deferred revenue | 36.3M-10.9% | 40.8M+34.7% | 30.3M-2.3% | 31.0M+70.4% | 18.2M+56.6% | |
| Short-term & current debt | 12.6M+49.7% | 8.40M-18.0% | 10.2M+20.4% | 8.51M-0.1% | 8.52M+113.0% | |
| Current lease liability | 18.1M+5.9% | 17.1M+2.2% | 16.7M+18.9% | 14.0M+12.2% | 12.5M | |
| 2.78B+10.0% | 2.53B+1.7% | 2.48B+6.9% | 2.32B+37.5% | 1.69B+122.2% | ||
| Non-current lease liability | 57.7M-16.2% | 68.8M-12.9% | 79.0M-9.9% | 87.7M+22.9% | 71.4M | |
| Operating lease liability (total) | 75.7M-11.8% | 85.9M-10.3% | 95.7M-5.9% | 102M+21.3% | 83.9M | |
| Deferred tax liabilities | 0.00 | — | — | — | — | |
| Other non-current liabilities | 0.00-100.0% | 61.0K-50.4% | 123K-25.0% | 164K-95.4% | 3.59M+48.4% | |
| 600M+2.9% | 583M+4.1% | 560M-7.8% | 608M-0.0% | 608M+65.4% | ||
| Additional paid-in capital | 844M+6.3% | 794M+6.3% | 747M+6.0% | 704M+6.2% | 663M+69.1% | |
| Retained earnings | -245M-16.0% | -211M-13.1% | -187M-93.2% | -96.8M-76.0% | -55.0M-125.9% | |
| Accumulated other comprehensive income | 492K | 0.00 | — | — | — | |
| Non-controlling interest | 484M+13.8% | 425M-7.2% | 458M-13.8% | 531M-8.2% | 579M+44.0% | |
| Total equity incl. non-controlling | 1.08B+7.5% | 1.01B-1.0% | 1.02B-10.6% | 1.14B-4.0% | 1.19B+54.2% | |
| Total liabilities & equity | 3.86B+9.3% | 3.53B+0.9% | 3.50B+1.1% | 3.46B+20.4% | 2.88B+88.0% | |
| Common shares outstanding | 118M+0.8% | 118M+0.8% | 117M+0.5% | 116M+0.9% | 115M+21.3% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| -29.4M-157.2% | 51.5M+111754.3% | 46.0K+101.9% | -2.46M-106.1% | 40.1M+9.0% | ||
| Depreciation & amortization | 128M+17.4% | 109M+10.7% | 98.4M+13.9% | 86.4M+67.7% | 51.5M+155.4% | |
| Intangible amortization | 121M+18.1% | 103M+10.8% | 92.7M+13.4% | 81.7M+67.8% | 48.7M+155.9% | |
| Share-based compensation | 71.1M+8.6% | 65.5M+9.2% | 60.0M+26.6% | 47.4M+146.9% | 19.2M+147.8% | |
| -140M-1154.8% | 13.3M+160.7% | -21.9M+94.7% | -414M+38.9% | -678M-0.1% | ||
| Capital expenditure | 39.5M-3.7% | 41.0M+92.0% | 21.4M-2.7% | 22.0M+313.1% | 5.32M-2.7% | |
| Free cash flow | -68.9M-762.7% | 10.4M+148.8% | -21.3M+12.7% | -24.4M-170.2% | 34.8M+11.0% | |
| Acquisitions | 85.5M | 0.00 | 0.00-100.0% | 388M-41.9% | 668M-0.2% | |
| Purchases of investments | 16.7M+332.0% | 3.86M+128.9% | 1.69M+52.9% | 1.10M-42.2% | 1.91M+52.6% | |
| 204M+868.1% | 21.1M+14.6% | 18.4M-95.6% | 420M-42.1% | 724M+1.7% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other financing activities | -5.15M-1851.9% | -264K+23.0% | -343K | — | — | |
| Interest paid | 115M+3.5% | 111M+5.7% | 105M+68.1% | 62.7M+183.6% | 22.1M+271.1% | |
| Income taxes paid | 1.70M-38.1% | 2.75M+92.0% | 1.43M+0.8% | 1.42M | 0.00 | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 2.85B-37.5% | 4.56B+62.5% | 2.80B-3.7% | 2.91B-29.8% | 4.15B+46.1% | |
| P/S | 1.9×-42.4% | 3.3×+15.7% | 2.9×-44.3% | 5.1×-29.8% | 7.3× | |
| P/B | 4.7×-39.3% | 7.8×+64.6% | 4.7×+6.2% | 4.5×-34.5% | 6.8×-11.7% | |
| P/FCF | — | 437.9×+153.9% | 172.5× | — | 119.2×+31.6% | |
| FCF yield | — | 0.23%-60.6% | 0.58% | — | 0.84%-24.0% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: BWIN’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all BWIN filings on SEC EDGAR → Not investment advice.