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BWINThe Baldwin Insurance Group, Inc.
$27.09$2.0B
Overview & Verdict
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BWIN logoThe Baldwin Insurance Group, Inc.(BWIN)Earnings, Financials & Key Ratios

BWIN•NASDAQ•Insurance & Managed Care
$27.09
Price updated Jul 6, 2026
SectorFinancial ServicesIndustryInsurance BrokersSub-IndustryBroker consolidators and retail brokers
AboutThe Baldwin Insurance Group, Inc. operates as an independent insurance distribution firm that delivers insurance and risk management solutions in the United States. It operates through three segments: Insurance Advisory Solutions; Underwriting, Capacity & Technology Solutions; and Mainstreet Insurance Solutions. The Insurance Advisory Solutions segment provides commercial risk management, employee benefits, and private risk management solutions for businesses and high-net-worth individuals, as well as their families. The Underwriting, Capacity & Technology Solutions segment offers Future platform, that manufactures technology-enabled insurance products suite comprises personal, commercial, and specialty lines; specialty wholesale broker business that delivers professionals, individuals, and niche industry businesses; and reinsurance brokerage services. The Mainstreet Insurance Solutions segment provides personal insurance, commercial insurance, and life and health solutions to individuals and businesses in communities. 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.Show more
  • Revenue$1.5B+9.3%
  • Combined Ratio92.73%-3.0%
  • Net Income-$34M-37.9%
  • Return on Equity-3.23%-33.6%
  • Medical Cost Ratio87.24%+16.3%
  • Operating Margin7.27%+64.9%
  • Net Margin-2.25%-26.1%
  • ROA-0.91%-31.2%
  • Equity / Assets28.08%-1.6%

BWIN Price & Volume

The Baldwin Insurance Group, Inc. (BWIN) stock price & volume — 10-year historical chart

Loading chart...

Rapid Revenue Expansion Masks Persistent Underwriting Volatility

Investment Thesis • Updated 2026Q1

VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Strained
Cash Flow:Burning
Primary Risk:Underwriting and liquidity volatility

Key Thesis Takeaways

  • The Baldwin Insurance Group exhibits a disconnect between its aggressive 29.4% revenue growth in 2026Q1 and its deteriorating underwriting profitability, evidenced by a 118.8% combined ratio.
  • While the firm continues to scale its asset base to $5.9B, the reliance on debt-heavy financing and inconsistent cash conversion suggests significant structural risks.
  • Investors should monitor whether the company can stabilize its bottom line, which swung to a $99.3M operating loss in 2026Q1, before committing capital to this volatile insurance platform.

Verdict Logic

the firm's inability to maintain underwriting profitability, highlighted by a 118.8% combined ratio in 2026Q1, suggests that current valuation levels may not fully account for the underlying operational instability.

BWIN Growth Metrics

The Baldwin Insurance Group, Inc. (BWIN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years45.39%
3 Years15.79%
TTM14.84%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-41.22%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-28.17%

Return on Capital

10 Years-0.33%
5 Years0.4%
3 Years1.65%
Last Year4.12%

BWIN Recent Earnings

The Baldwin Insurance Group, Inc. (BWIN) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
May 4, 2026
Metric
Actual
Est
EPS
$0.63-1.6%
$0.64
Rev
$532M+1.6%
$524M
Q1 2026
Feb 26, 2026
Metric
Actual
Est
EPS
$0.31+6.9%
$0.29
Rev
$347M-1.4%
$352M
Q4 2025
Nov 4, 2025
Metric
Actual
Est
EPS
$0.31+3.3%
$0.30
Rev
$365M+3.9%
$352M
Q3 2025
Aug 5, 2025
Metric
Actual
Est
EPS
$0.42+2.4%
$0.41
Rev
$374M+2.6%
$365M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 4, 2026
$0.63vs $0.64-1.6%
$532Mvs $524M+1.6%
Q1 2026Feb 26, 2026
$0.31vs $0.29+6.9%
$347Mvs $352M-1.4%
Q4 2025Nov 4, 2025
$0.31vs $0.30+3.3%
$365Mvs $352M+3.9%
Q3 2025Aug 5, 2025
$0.42vs $0.41+2.4%
$374Mvs $365M+2.6%
Based on last 12 quarters of dataView full earnings history →

Latest BWIN News

Recent stock market news and headlines for The Baldwin Insurance Group, Inc. (BWIN)

GlobeNewsWire·Jun 29, 2026
Altes Capital and Zero Intensity Announce Data Center Underwriting Collaboration

NEW YORK, June 29, 2026 (GLOBE NEWSWIRE) -- Altes Capital and Zero Intensity today announced a strategic collaboration to support Altes' underwriting of data center infrastructure opportunities. The goal is to bring more rigorous, asset-level analysis to the environmental, operational and community factors that increasingly determine whether data center projects can be delivered, financed, and sustained over time.

Business Wire·Jun 25, 2026
The Baldwin Group to Report Second Quarter 2026 Results on Thursday, July 30, 2026

TAMPA, Fla.--(BUSINESS WIRE)--The Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. (“Baldwin” or the “Company”) (NASDAQ: BWIN) and its affiliates, an independent insurance distribution firm delivering tailored insurance solutions to a wide range of personal and commercial clients, announced today that it will report its second quarter 2026 financial results after the market closes on Thursday, July 30, 2026.Baldwin will host a live audio webcast the same day at 5:00 pm Eastern.

Zacks Investment Research·Jun 22, 2026
The Baldwin Insurance Group (BWIN) Moves 16.8% Higher: Will This Strength Last?

The Baldwin Insurance Group (BWIN) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Peers Comparison

Key metrics vs top competitors for The Baldwin Insurance Group, Inc. (BWIN)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
BWIN logoBWINThe Baldwin Insurance Group, Inc.Current
$27.09$2.03B-54.189.35%-2.25%-3.23%—
RYAN logoRYANRyan Specialty Holdings, Inc.
$41.21$5.34B87.6821.28%4.17%10.77%—
AON logoAONAon plc
$356.91$76.47B20.979.45%22.54%44.16%—
MMC logoMMCMarsh & McLennan Companies, Inc.
$174.06$85.27B21.287.57%15.6%26.87%—
WTW logoWTWWillis Towers Watson Public Limited Company
$287.66$27.12B17.69-2.24%16.84%20.77%—
BRO logoBROBrown & Brown, Inc.
$68.43$23.29B21.6626.59%17.87%9.33%—

Compare BWIN vs Peers

The Baldwin Insurance Group, Inc. (BWIN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs RYAN

Most directly comparable listed peer for BWIN.

Scale Benchmark

vs MMC

Larger-name benchmark to compare BWIN against a more recognizable public peer.

Peer Set

Compare Top 5

vs RYAN, AON, MMC, WTW

BWIN SEC Filings & Documents

The Baldwin Insurance Group, Inc. (BWIN) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 4, 2026·SEC

Material company update

Feb 26, 2026·SEC

Material company update

Jan 2, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 25, 2025·SEC

10-Q Quarterly Reports

5
FY 2026

May 4, 2026·SEC

FY 2025

Nov 4, 2025·SEC

FY 2025

Aug 5, 2025·SEC

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BWIN Frequently Asked Questions

The Baldwin Insurance Group, Inc. (BWIN) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is The Baldwin Insurance Group, Inc. growing?

The Baldwin Insurance Group, Inc. (BWIN) grew revenue by 9.3% over the past year. This is steady growth.

Is BWIN profitable?

The Baldwin Insurance Group, Inc. (BWIN) reported a net loss of $45.4M for fiscal year 2025.

Dividend & Returns
What is BWIN's return on equity?

The Baldwin Insurance Group, Inc. (BWIN) has a return on equity (ROE) of -3.2%. Negative ROE indicates the company is unprofitable.

Industry Metrics
What is The Baldwin Insurance Group, Inc.'s combined ratio?

The Baldwin Insurance Group, Inc. (BWIN) has a combined ratio of 92.7%. A ratio below 100% indicates underwriting profitability.

What if you invested $1,000 in BWIN back in 2017?

Total return calculator · dividends reinvested · 9+ years of data

See returns →