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BWINThe Baldwin Insurance Group, Inc.
$31.85$2.2B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
BWIN logo

The Baldwin Insurance Group, Inc.

BWIN
NASDAQ · Insurance Brokers
$31.85
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$2.2B
P/E-63.7x
52W High$32.71
Volume3.52M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Accelerating Revenue Growth Masks Underwriting Deterioration

BWIN is experiencing a sharp acceleration in revenue growth, with Q2 2026 revenue up 31.7% year-over-year to $492.9M, driven by acquisitions and organic momentum. However, this growth is accompanied by significant underwriting strain, as evidenced by a loss ra...

GrowthAccelerating
ProfitabilityStrained
ValuationAttractive
TechnicalsStrong
Explore valuation models
MARKET ACTION

BWIN price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

8/12 Beats

EPS beat 8 of last 12 quarters

02

Valuation risk

-485% Peers

P/E is 485% below peer median

03

Market leadership

RS 88 · Leader

High momentum (Outperforming 88% of market)

04

Strong Uptrend

Strong Trend

Price > 20DMA > 50DMA > 200DMA

Next CatalystEstimated earnings · Oct 30

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
BWIN+33.94%
S&P 500 (^GSPC)+12.39%
1-Year Return
BWIN+6.77%
S&P 500 (^GSPC)+15.77%
3-Year Return
BWIN+5.92%
S&P 500 (^GSPC)+77.17%
5-Year Return
BWIN+5.92%
S&P 500 (^GSPC)+72.76%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E
-63.7x
Forward P/E
15.8x
EV/EBITDA50th %ile
16.2x
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-63.7x
N/A
N/A
EV/EBITDA
16.2x
23.3x
50th· Fair
Price/FCF
N/A
40.3x
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$7.45-76.6%
Base (Fair)$22.59-29.3%
Bull$36.42+14.3%
$7.45 Bear$22.59 Base$36.42 Bull
Current Market Price: $31.85
Trades at a 41.0% premium to Base DCF ($22.59)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$1.5B+9.3% YoY
Net income
-$34M-37.9% YoY
Free cash flow
-$69M-212.8% YoY
Operating margin
7.3%+2.9 pts YoY
ROIC (TTM)3.1%
Avg ROIC 5Y-
ROE (TTM)-3.2%
Piotroski Score4 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate8/12 (67%)
Revenue Beat Rate10/12 (83%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 30, 2026
$0.48+2.0%
vs $0.47
$493M+0.1%
vs $492M
Q2 2026
May 4, 2026
$0.63-1.6%
vs $0.64
$532M+1.6%
vs $524M
Q1 2026
Feb 26, 2026
$0.31+6.9%
vs $0.29
$347M-1.4%
vs $352M
Q4 2025
Nov 4, 2025
$0.31+3.3%
vs $0.30
$365M+3.9%
vs $352M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
GuruFocus·Sep 16, 2026
THE BALDWIN GROUP (BWIN): Kaskela Law Announces Probe into Adequacy of $32.50 Per Share Buyout Price -- Fair or Inadequately Low for Baldwin's Shareholders?

[url="]Kaskela Law[/url] is investigating the sufficiency of The Baldwin Group, Inc. (NASDAQ: BWIN) (“Baldwin”) shareholder buyout proposal to determine whe

GuruFocus·Sep 9, 2026
A Look at The Baldwin Insurance Group Inc (BWIN) After 5.0% Decline -- GF Value $29.57 vs Price $28.23

On September 09, 2026, The Baldwin Insurance Group Inc (BWIN) shares fell 5.0%, bringing the current price to $28.23. This decline is significant in the context

Defense World·Aug 26, 2026
Bank of New York Mellon Corp Makes New $81.80 Million Investment in Baldwin Insurance Group, Inc. $BWIN

Bank of New York Mellon Corp bought a new stake in Baldwin Insurance Group, Inc. (NASDAQ: BWIN) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,077,351 shares of the company's stock, valued at approximately $81,796,000. Bank of New York Mellon

Seeking Alpha·Jul 31, 2026
The Baldwin Insurance Group, Inc. (BWIN) Q2 2026 Earnings Call Transcript

The Baldwin Insurance Group, Inc. (BWIN) Q2 2026 Earnings Call Transcript

Filtered for The Baldwin Insurance Group, Inc.More Headlines
04

Compare before deciding

Benchmark BWIN against direct peers instead of judging its metrics in isolation.

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
$31.85$2.2B-63.709.35%-2.25%-3.23%—
RYAN logoRYANRyan Specialty Holdings, Inc.
$36.17$10.07B76.9621.28%5.84%15.93%—
AON logoAONAon plc
$281.60$59.73B16.559.45%22.27%41.97%—
MMC logoMMCMarsh & McLennan Companies, Inc.
$174.06$85.27B21.287.57%15.6%26.87%—
WTW logoWTWWillis Towers Watson Public Limited Company
$298.99$28.24B18.39-2.24%15.49%19.75%—
BRO logoBROBrown & Brown, Inc.
$61.70$20.65B19.5326.59%17.59%9.6%—

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

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

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

Jul 30, 2026·SEC

Material company update

Jun 4, 2026·SEC

Material company update

May 4, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 25, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Jul 30, 2026·SEC

FY 2026

May 4, 2026·SEC

FY 2025

Nov 4, 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 $81.2M 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 →