Baldwin Insurance Group, Inc. (BWIN)
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.
- Ticker
- BWIN
- Exchange
- Nasdaq
- Sector
- Financial Services
- Industry
- Insurance Brokers
- Market cap
- $4.46B
- 52-week range
- $15.88 - $32.71
Valuation
- Share price
- $31.98 (close of Nov 6, 2026)
- P/E (TTM)
- -30.17x
- Price to book
- 3.14x
- Price to free cash flow
- 102.07x
- Enterprise value
- $6.96B
- Book value per share
- $10.19
Price performance
| Period | Change |
|---|---|
| 1 day | +0.03% |
| 5 days | +0.16% |
| 1 month | +0.47% |
| 3 months | +11.82% |
| 6 months | +55.32% |
| Year to date | +33.08% |
| 1 year | +24.00% |
| 3 years | +45.50% |
| 5 years | -16.22% |
| All time | +95.36% |
Short interest
- As of
- Oct 15, 2026
- Short % of float
- 8.33%
- Shares short
- 7.07M
- Days to cover
- 2.94
- Change since prior report
- -5.74%
- Source
- FINRA consolidated short interest
Members of Congress who disclosed BWIN trades
Scott Franklin · Gilbert Ray Cisneros · Josh Gottheimer
Super investors holding BWIN
Profitability and growth
- Return on equity
- -3.12%
- Return on assets
- -0.88%
- Net margin
- -2.26%
- Revenue growth
- 7.53%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 0.98%
- Current ratio
- 1.07x
- Net debt to EBITDA
- 30.25x
Latest reported year
- Period end
- Dec 31, 2025
- Fiscal year
- 2025
- Revenue
- $1.49B
- Net income
- -$33.81M
- Earnings per share
- $-0.50
- Interest expense
- $121.43M
- Shares outstanding
- 67.94M
Income statement by year
| Period end | Revenue | Net income | EPS |
|---|---|---|---|
| 2025-12-31 | $1.49B | -$33.81M | -$0.50 |
| 2024-12-31 | $1.39B | -$24.52M | -$0.39 |
| 2023-12-31 | $1.21B | -$90.14M | -$1.50 |
| 2022-12-31 | $980.72M | -$41.77M | -$0.74 |
| 2021-12-31 | $567.29M | -$30.65M | -$0.64 |
| 2020-12-31 | - | -$15.70M | -$0.58 |
| 2019-12-31 | - | -$8.65M | $0.00 |
| 2018-12-31 | - | -$624.00K | $0.00 |
Margins and returns by year
| Period end | Net margin | Return on equity |
|---|---|---|
| 2025-12-31 | -2.26% | -3.12% |
| 2024-12-31 | -1.77% | -2.43% |
| 2023-12-31 | -7.44% | -8.85% |
| 2022-12-31 | -4.26% | -3.67% |
| 2021-12-31 | -5.40% | -2.58% |
| 2020-12-31 | - | -2.04% |
| 2019-12-31 | - | -3.65% |
Cash and debt by year
| Period end | Cash | Debt |
|---|---|---|
| 2025-12-31 | $123.67M | $107.00M |
| 2024-12-31 | $90.05M | - |
| 2023-12-31 | $116.21M | $341.00M |
| 2022-12-31 | $118.09M | $505.00M |
| 2021-12-31 | $138.29M | $35.00M |
| 2020-12-31 | $108.46M | $399.00M |
| 2019-12-31 | $67.69M | $40.40M |
| 2018-12-31 | $8.00M | $1.50M |
| 2017-12-31 | $3.12M | - |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|---|---|
| 2025-12-31 | -$68.94M | $71.11M |
| 2024-12-31 | $10.40M | $65.50M |
| 2023-12-31 | -$21.33M | $60.01M |
| 2022-12-31 | -$24.44M | $47.39M |
| 2021-12-31 | $34.81M | $19.19M |
| 2020-12-31 | $31.35M | $7.74M |
| 2019-12-31 | $10.30M | $3.23M |
| 2018-12-31 | $11.27M | $1.24M |
| 2017-12-31 | $7.58M | - |
Investor relations
Next earnings report
- Next confirmed report
- Nov 10, 2026
- Consensus EPS estimate
- $0.26
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|---|---|
| 2026-07-30 | Jun 2026 | $0.28 |
| 2026-05-04 | Mar 2026 | $0.44 |
| 2026-02-26 | Dec 2025 | $0.17 |
| 2025-11-04 | Sep 2025 | $0.18 |
| 2025-08-05 | Jun 2025 | $0.28 |
| 2025-05-06 | Mar 2025 | $0.50 |
| 2025-02-25 | Dec 2024 | $0.15 |
| 2024-11-04 | Sep 2024 | $0.22 |
Filings and sources
- Company website
- baldwin.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Understanding these figures
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