your badges 52W Range $16–$33 94% of range Analyst Rating BUY 17 analysts Price Target $33 +5% upside P/E -30.3 ROE -10.7% Net Profit Margin -4.7%

BWIN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $31.77
P/E (TTM) -30.3
EPS (TTM) $-1.05
Revenue (TTM) $1.74B
ROE (TTM) -10.7%
Debt/Equity (MRQ) 0.0
52W Range $16–$33

BWIN Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04
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10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$1.50B
2021-12-31 → 2025-12-31
EPS$-0.50
2020-12-31 → 2025-12-31
Free Cash Flow$-69M
2019-12-31 → 2025-12-31
Net margin-4.7%
2019-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend BWIN 5Y avg Peer Median Verdict
P/E (TTM) -30.35Y avg ≈-50.8 ≈-50.8 · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 0.19%
Next Report Nov 02, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 3, 2026 $0.48 $0.48 -0.02%
March 31, 2026 May 12, 2026 $0.63 $0.65 -2.9%
Dec. 31, 2025 $0.31 $0.29 5.2%
Sept. 30, 2025 $0.31 $0.31 1.3%
June 30, 2025 $0.42 $0.43 -1.3%
March 31, 2025 $0.65 $0.66 -1.1%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 12
Metric Trend 20252024202320222021
Revenue $1.50B$1.39B$1.22B$981M$567M
Operating Expenses $183M$139M$140M$127M$599M
Operating Income $74M$61M$-43M$-31M$-32M
Other Non-op $635.0K$-194.0K$-718.0K$26M$424.0K
Pretax Income $-52M$-39M$-163M$-76M$-58M
Income Tax $2M$2M$1M$715.0K$19.0K
Net Income $-34M$-25M$-90M$-42M$-31M
EPS (Basic) $-0.50$-0.39$-1.50$-0.74$-0.64
EPS (Diluted) $-0.50$-0.39$-1.50$-0.74$-0.64
Shares (Basic) 67,938,68063,455,14860,134,77656,825,34847,587,866
Shares (Diluted) 67,938,68063,455,14860,134,77656,825,34847,587,866
EBITDA $202M$170M$56M$55M$20M
Balance Sheet 25
Metric Trend 20252024202320222021
Cash & Equivalents $124M$90M$116M$118M$138M
Prepaid Expense $14M$12M$13M$10M$8M
Other Current Assets ···$100.0K·
Current Assets $1.20B$1.03B$926M$772M$578M
PP&E (Net) $23M$22M$23M$25M$17M
PP&E (Gross) $45M$42M$37M$34M$22M
Accum. Depreciation $22M$20M$14M$9M$4M
Goodwill $1.52B$1.41B$1.41B$1.42B$1.23B
Intangibles $978M$953M$1.02B$1.10B$944M
Other Non-current Assets $82M$48M$38M$46M$26M
Total Assets $3.86B$3.53B$3.50B$3.46B$2.88B
Accounts Payable $253M$161M$145M$126M$92M
Accrued Liabilities $57M$12M$23M$13M$10M
Short-term Debt $0$6M$2M$2M·
Current Liabilities $1.03B$1.06B$1.03B$699M$541M
Capital Leases $58M$69M$79M$88M$71M
Deferred Tax $0····
Other Non-current Liabilities $0$61.0K$123.0K$164.0K$4M
Total Liabilities $2.78B$2.53B$2.48B$2.32B$1.69B
Total Debt $13M$14M$12M$9M$9M
Paid-in Capital $844M$794M$747M$704M$663M
Retained Earnings $-245M$-211M$-187M$-97M$-55M
AOCI $492.0K$0···
Stockholders' Equity $600M$583M$560M$608M$608M
Liabilities + Equity $3.86B$3.53B$3.50B$3.46B$2.88B
Cash Flow 10
Metric Trend 20252024202320222021
D&A $128M$109M$98M$86M$52M
Stock-based Comp $71M$66M$60M$47M$19M
Amort. of Intangibles $121M$103M$93M$82M$49M
Other Non-cash $-195M$-48M$-24M$-94M$74.0K
Operating Cash Flow $-29M$51M$46.0K$-2M$40M
CapEx $40M$41M$21M$22M$5M
Investing Cash Flow $-140M$13M$-22M$-414M$-678M
Financing Cash Flow $204M$21M$18M$420M$724M
Taxes Paid $2M····
Free Cash Flow $-69M$61M$23M$-24M$35M
Profitability 7
Metric Trend 20252024202320222021
Operating Margin 4.9%4.4%-3.5%43.8%117.6%
Net Margin -2.2%-1.8%-7.4%58.8%113.9%
Pretax Margin -3.5%-2.8%-13.4%107.0%216.0%
EBITDA Margin 13.4%12.2%4.6%-77.8%-73.9%
ROA -0.91%-0.70%-2.6%-1.3%-1.4%
ROE -5.7%-4.3%-15.4%-6.9%-6.3%
ROIC 12.5%10.6%-7.5%-5.1%-5.1%
Liquidity & Solvency 3
Metric Trend 20252024202320222021
Current Ratio 1.21.00.91.11.1
Quick Ratio 0.10.10.10.20.3
Debt / Equity 0.00.00.00.00.0
Efficiency 1
Metric Trend 20252024202320222021
Asset Turnover 0.40.40.3-0.0-0.0
Per Share 3
Metric Trend 20252024202320222021
Revenue / Share $22.15$21.89$20.26$-1.25·
Cash Flow / Share $-0.43$1.61$0.74$-0.04·
EPS (TTM) $-0.50$-0.39$-1.50$-0.74$-0.64
Growth Rates 2
Metric Trend 20252024202320222021
Revenue YoY 8.3%14.0%24.2%72.9%·
Revenue CAGR 3Y 15.3%34.8%···
Valuation (TTM) 4
Metric Trend 20252024202320222021
Revenue TTM $1.50B$1.39B$1.22B$981M$567M
Net Income TTM $-34M$-25M$-90M$-42M$-31M
P/E -48.1-99.4-16.0-34.0-56.4
Earnings Yield -2.1%-1.0%-6.2%-2.9%-1.8%

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $1.50B $1.39B $1.22B $981M $567M
Operating Margin % 4.9% 4.4% -3.5% 43.8% 117.6%
Net Income $-34M $-25M $-90M $-42M $-31M
Diluted EPS $-0.50 $-0.39 $-1.50 $-0.74 $-0.64

Institutional owners (13F) 246 filers · $2.5B total · As of Sept. 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 246
Value held $2.5B
New positions 43
Exited positions 25
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
43 (-8 vs prior Q) 25 (-3 vs prior Q) 67 (-21 vs prior Q) 78 (+31 vs prior Q) -619K

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
FMR LLC $392,113,901 14,752,216 15.72% Shares
BlackRock, Inc. $192,756,821 7,251,950 7.73% Shares
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC $178,962,210 6,732,965 7.18% Shares
VANGUARD GROUP INC $164,650,533 6,851,874 6.60% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $86,728,201 3,262,912 3.48% Shares
VANGUARD CAPITAL MANAGEMENT LLC $84,162,407 3,166,381 3.38% Shares
Bank of New York Mellon Corp $81,795,997 3,077,351 3.28% Shares
BAMCO INC /NY/ $72,095,220 2,712,386 2.89% Shares
STATE STREET CORP $70,829,267 2,665,874 2.84% Shares
GEODE CAPITAL MANAGEMENT, LLC $62,193,866 2,339,453 2.49% Shares
MORGAN STANLEY $60,523,570 2,277,033 2.43% Shares
Woodline Partners LP $60,180,708 2,264,135 2.41% Shares
FRONTIER CAPITAL MANAGEMENT CO LLC $55,755,750 2,097,658 2.24% Shares
WESTWOOD HOLDINGS GROUP INC $51,521,873 1,938,370 2.07% Shares
NOMURA ASSET MANAGEMENT INTERNATIONAL INC. $50,840,000 1,912,711 2.04% Shares
Capital International Investors $44,938,726 1,690,697 1.80% Shares
UBS Group AG $43,627,056 1,641,349 1.75% Shares
Annis Gardner Whiting Capital Advisors, LLC $42,065,163 1,582,587 1.69% Shares
DIMENSIONAL FUND ADVISORS LP $35,779,984 1,346,168 1.43% Shares
Capital Research Global Investors $34,772,036 1,308,203 1.39% Shares
Boston Partners $31,698,386 1,192,820 1.27% Shares
BANK OF AMERICA CORP /DE/ $31,472,980 1,184,085 1.26% Shares
Point72 Asset Management, L.P. $27,595,090 1,038,190 1.11% Shares
Champlain Investment Partners, LLC $22,939,550 863,038 0.92% Shares
NORTHERN TRUST CORP $21,536,818 810,264 0.86% Shares
Bridgewater Advisors Inc. $21,482,223 728,743 0.86% Shares
Fenimore Asset Management Inc $21,142,636 795,434 0.85% Shares
Venator Management LLC $20,555,510 773,345 0.82% Shares
JANUS HENDERSON GROUP PLC $19,348,404 881,885 0.78% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $19,228,318 723,413 0.77% Shares
MetLife Investment Management, LLC $18,414,544 692,797 0.74% Shares
GOLDMAN SACHS GROUP INC $17,888,473 673,005 0.72% Shares
ROYAL BANK OF CANADA $17,317,000 651,487 0.69% Shares
KENNEDY CAPITAL MANAGEMENT LLC $16,270,548 612,135 0.65% Shares
Fiera Capital Corp $15,851,621 596,374 0.64% Shares
VANGUARD FIDUCIARY TRUST CO $15,455,792 581,482 0.62% Shares
Aristotle Capital Boston, LLC $15,108,787 568,427 0.61% Shares
1776 Wealth LLC $14,284,358 537,410 0.57% Shares
SEI INVESTMENTS CO $11,872,729 446,679 0.48% Shares
BECK MACK & OLIVER LLC $11,642,572 438,020 0.47% Shares
JPMORGAN CHASE & CO $10,884,509 410,190 0.44% Shares
CIBC Bancorp USA Inc. $10,776,223 405,426 0.43% Shares
Nuveen, LLC $10,434,272 392,561 0.42% Shares
NEW YORK STATE COMMON RETIREMENT FUND $9,684,503 364,353 0.39% Shares
Tributary Capital Management, LLC $9,508,570 357,734 0.38% Shares
Freestone Grove Partners LP $8,709,708 327,679 0.35% Shares
STATE OF WISCONSIN INVESTMENT BOARD $8,641,982 325,131 0.35% Shares
EQUITABLE TRUST CO $7,522,087 282,998 0.30% Shares
PEREGRINE CAPITAL MANAGEMENT LLC $6,525,443 245,502 0.26% Shares
MAI Capital Management $5,885,743 221,435 0.24% Shares

Show all 246 institutional owners →

Company insiders 36 insiders · 9 officers · 14 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
James Morgan Roche President, The Baldwin Group and CEO, Underwriting, Capacity and Technology Operations March 15, 2026 F 322,437 0 5 $-6,119,336
Trevor Baldwin Chief Executive Officer March 15, 2026 F 104,549 0 0 $0
Daniel Galbraith President, The Baldwin Group and CEO, Retail Brokerage Operations; Member of 10% owner group March 15, 2026 F 43,486 0 0 $0
Bradford Hale Chief Financial Officer April 1, 2026 F 174,501 0 0 $0
Seth Bala Cohen General Counsel May 14, 2026 S 14,024 0 1 $-300,150
Corbyn N. Galloway Chief Accounting Officer April 1, 2026 A 57,291 0 0 $0
John A. Valentine Chief Partnership Officer Nov. 9, 2023 P 93,222 0 0 $0
Kristopher Aaron Wiebeck Chief Strategy Officer Aug. 17, 2023 S 20,035 0 0 $0
Christopher John Stephens General Counsel May 3, 2021 A 12,360 0 0 $0
Paul Eugene Sparks Director Oct. 1, 2026 F 2,862 2 0 $1,001,760
Sathish Muthukrishnan Director Oct. 1, 2026 A 11,078 0 0 $0
Sunita Parasuraman Director Oct. 1, 2026 A 15,269 0 0 $0
Myron K Williams Director Oct. 1, 2026 A 15,269 0 0 $0
Jay A Cohen Director Oct. 1, 2026 A 19,447 0 0 $0
Barbara Ruth Matas Director Oct. 1, 2026 A 20,424 0 0 $0
Ellyn Shook Director Oct. 1, 2026 A 15,269 0 0 $0
KADOW JOSEPH JOHN Director Oct. 1, 2026 A 20,424 0 0 $0
Chris Thomas Sullivan Director Oct. 1, 2026 A 86,506 0 0 $0
Lowry Baldwin Director March 2, 2026 J 12,537,590 0 0 $0
Phillip E Casey Director April 1, 2023 A 11,030 0 0 $0
Robert D. Eddy Director April 1, 2021 A 7,571 0 0 $0
Baldwin Insurance Group Holdings, LLC 10% owner March 2, 2026 J 12,537,590 0 0 $0
Loper Enterprises, LLC 10% owner June 26, 2020 S 0 0 0 $0
Jennifer L. Parr 10% owner Oct. 28, 2019 S 2,477,559 0 0 $0
Mark G. Morse Family Trust u/a/d 9/8/2005 10% owner Oct. 28, 2019 S 2,477,559 0 0 $0
Mark G. Morse 10% owner Oct. 28, 2019 S 2,477,559 0 0 $0
Tracy Morse Dadeo 10% owner Oct. 28, 2019 S 2,477,559 0 0 $0
Jennifer L. Parr Family Trust u/a/d 10/6/2005 10% owner Oct. 28, 2019 S 2,477,559 0 0 $0
Tracy Morse Family Trust u/a/d 10/1/2019 10% owner Oct. 28, 2019 S 2,477,559 0 0 $0
Villages Invesco, LLC 10% owner Oct. 28, 2019 S 2,477,559 0 0 $0
Elizabeth Krystyn · May 6, 2026 C 0 0 6 $-6,830,952
Laura Sherman · April 1, 2025 J 1,326 0 0 $0
Joseph D. Finney · Aug. 5, 2022 G 337,852 0 0 $0
Millennial Specialty Holdco LLC · Sept. 10, 2021 J 0 0 0 $0
Kristopher A. Wiebeck 2019 Grantor Retained Annuity Trust Dated September 30, 2019 · Dec. 18, 2020 S 431,427 0 0 $0
Elizabeth H. Krystyn 2019 Grantor Retained Annuity Trust I Dated September 30, 2019 · Sept. 30, 2020 G 73,501 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 36 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
HAPS · Harbor ETF Trust 0.44% 27,340 NS July 31, 2026 N-PORT
IWO · iShares Trust 0.19% 920,718 SH Sept. 11, 2026 Daily
NUSC · Nushares ETF Trust 0.16% 74,913 NS July 31, 2026 N-PORT
VTWG · VANGUARD SCOTTSDALE FUNDS 0.15% 105,159 SH Aug. 19, 2026 Daily
FYC · First Trust Exchange-Traded AlphaDE… 0.14% 64,787 NS July 31, 2026 N-PORT
BBSC · J.P. Morgan Exchange-Traded Fund Tr… 0.10% 26,068 NS July 31, 2026 N-PORT
FFSM · FIDELITY COVINGTON TRUST 0.10% 55,587 NS July 31, 2026 N-PORT
IWM · iShares Trust 0.09% 2,509,088 SH Sept. 11, 2026 Daily
BKSE · BNY Mellon ETF Trust 0.09% 2,963 NS July 31, 2026 N-PORT
RSSL · Global X Funds 0.09% 46,958 NS July 31, 2026 N-PORT
VTWO · VANGUARD SCOTTSDALE FUNDS 0.08% 564,415 SH Aug. 19, 2026 Daily
ESML · iShares Trust 0.06% 61,782 SH Sept. 11, 2026 Daily
VBK · VANGUARD INDEX FUNDS 0.05% 897,745 SH Aug. 19, 2026 Daily
ISCG · iShares Trust 0.05% 15,720 SH Sept. 11, 2026 Daily
DFAS · Dimensional ETF Trust 0.04% 220,457 NS July 31, 2026 N-PORT
OMFS · Invesco Exchange-Traded Self-Indexe… 0.03% 2,526 SH Oct. 2, 2026 Daily
PRFZ · Invesco Exchange-Traded Fund Trust 0.03% 24,818 SH Oct. 2, 2026 Daily
FAD · First Trust Exchange-Traded AlphaDE… 0.03% 5,868 NS July 31, 2026 N-PORT
FNCL · FIDELITY COVINGTON TRUST 0.02% 20,349 NS July 31, 2026 N-PORT
WSML · iShares Trust 0.02% 4,726 SH Sept. 11, 2026 Daily
VXF · VANGUARD INDEX FUNDS 0.02% 917,201 SH Aug. 19, 2026 Daily
VB · VANGUARD INDEX FUNDS 0.02% 1,561,216 SH Aug. 19, 2026 Daily
VFH · VANGUARD WORLD FUND 0.02% 126,424 SH Aug. 19, 2026 Daily
DFAC · Dimensional ETF Trust 0.00% 73,033 NS July 31, 2026 N-PORT
IWV · iShares Trust 0.00% 26,109 SH Sept. 11, 2026 Daily
ITOT · iShares Trust 0.00% 110,404 SH Sept. 11, 2026 Daily
DFAU · Dimensional ETF Trust 0.00% 8,752 NS July 31, 2026 N-PORT
DFUS · Dimensional ETF Trust 0.00% 11,765 NS July 31, 2026 N-PORT
DFSU · Dimensional ETF Trust 0.00% 1,311 NS July 31, 2026 N-PORT
DCOR · Dimensional ETF Trust 0.00% 1,368 NS July 31, 2026 N-PORT
DXUV · Dimensional ETF Trust 0.00% 173 NS July 31, 2026 N-PORT
TILT · FlexShares Trust 0.00% 158 NS July 31, 2026 N-PORT
VTI · VANGUARD INDEX FUNDS 0.00% 2,173,804 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 7,953 SH Aug. 19, 2026 Daily
ISCB · iShares Trust · 4,339 SH Sept. 11, 2026 Daily
ISCV · iShares Trust · 10,390 SH Sept. 11, 2026 Daily

BWIN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 17 analysts BUY
Median target $32.50 +2.3%
5 29.4% Strong Buy
7 41.2% Buy
5 29.4% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

6 analysts · 2026-10-01

Mean target $33.33 +4.9%

Now Current price $31.77
Low$30.00 Mean$33.33 High$37.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
BWIN · -48.1 8.3% -2.2% -5.7% ·
MRSH $89.98B 22.0 10.3% 15.4% 28.1% ·
AJG $66.51B 45.1 20.7% 10.7% 6.9% ·
BRO $26.78B 25.2 22.8% 17.9% 8.7% ·
RYAN · · 21.3% 2.1% 9.9% ·
HGTY · · 17.3% 10.2% 80.3% ·
LIFE · · 52.0% 18.4% -108.4% ·
GSHD · 70.8 16.2% 7.6% -107.8% ·
TWFG · 54.3 22.0% · · ·
ABX $833M 23.8 110.2% 15.5% 8.8% 87.7%

Latest News Recent headlines mentioning this company

23
The Baldwin Insurance Group, Inc. Q1 2026 Earnings Call Summary Yahoo Finance · 4 months, 4 weeks ago

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

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Source: SEC 10-Q filed Jul 30, 2026