20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.
The Baldwin Insurance Group, Inc. (BWIN) operates in the INSURANCE BROKERS industry and is headquartered in Tampa, United States with about 5,000 employees. Its market capitalization is roughly $3 billion. In the fiscal year ended 2025-12-31, BWIN reported $1.5B in revenue and ($34M) in net income.
The Baldwin Insurance Group, Inc. operates as an independent insurance distribution firm that delivers insurance and risk management solutions in the United States.
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| Income statement | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $1.7B | $1.5B | $1.4B | $1.2B | $969M | $560M | $232M | $135M | $79M | $47M |
| Gross Profit | $167M | $192M | $344M | $296M | $250M | $160M | $58M | $38M | $27M | $17M |
| Gross Margin % | 9.6% | 12.8% | 25.0% | 24.5% | 25.8% | 28.6% | 24.9% | 28.1% | 34.5% | 34.9% |
| Operating Income (EBIT) | ($92M) | $109M | $61M | ($43M) | ($31M) | ($32M) | ($22M) | ($5M) | $10M | $6M |
| Operating Margin % | -5.3% | 7.3% | 4.4% | -3.5% | -3.2% | -5.7% | -9.5% | -3.8% | 12.1% | 12.3% |
| Net Income | ($82M) | ($34M) | ($25M) | ($90M) | ($42M) | ($31M) | ($16M) | ($9M) | ($1M) | $2M |
| Net Margin % | -4.7% | -2.2% | -1.8% | -7.5% | -4.3% | -5.5% | -6.8% | -6.4% | -0.8% | 3.6% |
| EBITDA | $62M | $197M | $165M | $117M | $88M | $65M | $19M | $16M | $14M | $8M |
| Earnings Per Share (EPS) | $-1.17 | $-0.50 | $-0.39 | $-1.50 | $-0.74 | $-0.64 | $-0.58 | $-0.48 | $-0.20 | $0.36 |
| Shares Outstanding (M) | 69M | 68M | 63M | 60M | 57M | 48M | 27M | 18M | 5M | 5M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly income statement | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | $493M | $532M | $347M | $365M | $374M | $409M | $323M | $336M |
| Gross Profit | ($8M) | $68M | $14M | $93M | $105M | $145M | $45M | $89M |
| Gross Margin % | -1.7% | 12.7% | 4.0% | 25.5% | 28.1% | 35.4% | 13.9% | 26.4% |
| Operating Income (EBIT) | ($8M) | ($89M) | $2M | $3M | $28M | $56M | ($5M) | $15M |
| Operating Margin % | -1.7% | -16.8% | 0.5% | 0.9% | 7.5% | 13.7% | -1.7% | 4.6% |
| Net Income | ($39M) | $2M | ($26M) | ($19M) | ($3M) | $14M | ($20M) | ($8M) |
| Net Margin % | -7.9% | 0.4% | -7.4% | -5.1% | -0.9% | 3.4% | -6.2% | -2.5% |
| EBITDA | $48M | ($50M) | $27M | $37M | $54M | $92M | $0M | $43M |
| Earnings Per Share (EPS) | $-0.56 | $0.03 | $-0.37 | $-0.27 | $-0.05 | $0.20 | $-0.31 | $-0.13 |
| Shares Outstanding (M) | 69M | 69M | 69M | 69M | 68M | 69M | 65M | 64M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Cash flow | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | $91M | ($29M) | $102M | $45M | ($2M) | $40M | $37M | $12M | $12M | $8M |
| Capital Expenditures (CapEx) | $47M | $40M | $41M | $21M | $22M | $5M | $5M | $2M | $1M | $0M |
| Free Cash Flow (FCF) | $43M | ($69M) | $61M | $23M | ($24M) | $35M | $31M | $10M | $11M | $8M |
| FCF Margin % | 2.5% | -4.6% | 4.4% | 1.9% | -2.5% | 6.2% | 13.5% | 7.6% | 14.3% | 16.0% |
| Dividends Paid | — | — | $0M | $0M | $0M | $0M | $0M | $11M | $6M | $4M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly cash flow | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | $46M | ($6M) | $10M | $41M | ($17M) | ($64M) | $16M | $2M |
| Capital Expenditures (CapEx) | $15M | $13M | $10M | $9M | $11M | $9M | $12M | $10M |
| Free Cash Flow (FCF) | $30M | ($19M) | $0M | $32M | ($28M) | ($73M) | $4M | ($8M) |
| FCF Margin % | 6.2% | -3.5% | -0.0% | 8.8% | -7.5% | -17.8% | 1.3% | -2.4% |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Balance sheet | 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.2B | $3.9B | $3.5B | $3.5B | $3.5B | $2.9B | $1.5B | $399M | $1M | $1M |
| Cash & Cash Equivalents | $184M | $124M | $148M | $116M | $118M | $138M | $108M | $68M | $8M | $3M |
| Total Liabilities | $4.8B | $2.8B | $2.5B | $2.5B | $2.3B | $1.7B | $760M | $161M | $270M | $97M |
| Total Debt (Short + Long-Term) | $2.6B | $1.7B | $1.6B | $1.6B | $1.4B | $967M | $391M | $2M | $157M | $1M |
| Total Shareholders' Equity | $884M | $600M | $583M | $560M | $608M | $608M | $368M | $73M | $140M | $45M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive BWIN viewer.
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