The Baldwin Insurance Group, Inc. (BWIN) quarterly income statement — complete revenue, gross profit & net income history
The Baldwin Insurance Group, Inc. (BWIN) annual income statement — 9-year revenue, gross profit & net income history
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|
| Revenue | 492.94M | 532.24M | 347.28M | 365.39M | 374.31M | 408.53M | 323.44M | 336.04M | 338.69M | 378.07M | 286.19M | 303.91M | 294.95M | 327.29M | 247.16M | 256.76M | 228.66M | 240.9M | 161.88M |
| Revenue Growth % | 31.69% | 30.28% | 7.37% | 8.73% | 10.52% | 8.06% | 13.01% | 10.57% | 14.83% | 15.52% | 15.79% | 18.36% | 28.99% | 35.86% | 52.68% | - | - | - | - |
| Medical Costs & Claims | 501.28M | 464.45M | 333.54M | 272.14M | 269.06M | 263.84M | 278.45M | 247.19M | 244.31M | 262.09M | 234.69M | 220.47M | 225.24M | 230.95M | 196.93M | 195.92M | 172.85M | 153.75M | 121.53M |
| Medical Cost Ratio % | 101.69% | 87.26% | 96.04% | 74.48% | 71.88% | 64.58% | 86.09% | 73.56% | 72.14% | 69.32% | 82.01% | 72.55% | 76.36% | 70.57% | 79.68% | 76.31% | 75.59% | 63.82% | 75.07% |
| Gross Profit | -8.34M | 67.79M | 13.74M | 93.25M | 105.25M | 144.69M | 44.98M | 88.85M | 94.38M | 115.98M | 51.5M | 83.44M | 69.72M | 96.33M | 50.23M | 60.84M | 55.81M | 87.15M | 40.35M |
| Gross Margin % | -1.69% | 12.74% | 3.96% | 25.52% | 28.12% | 35.42% | 13.91% | 26.44% | 27.86% | 30.68% | 17.99% | 27.45% | 23.64% | 29.43% | 20.32% | 23.69% | 24.41% | 36.18% | 24.93% |
| Gross Profit Growth % | -107.93% | -53.15% | -69.46% | 4.94% | 11.53% | 24.75% | -12.65% | 6.49% | 35.36% | 20.4% | 2.52% | 37.14% | 24.91% | 10.53% | 24.48% | - | - | - | - |
| Operating Expenses | 0 | 157.1M | 11.96M | 90.03M | 77.31M | 88.67M | 50.46M | 73.45M | 77.92M | 81.72M | 81.22M | 83.35M | 86.25M | 92.71M | 116.65M | 90.69M | 30.38M | 47.41M | 78.23M |
| OpEx / Revenue % | 0% | 29.52% | 3.45% | 24.64% | 20.66% | 21.7% | 15.6% | 21.86% | 23.01% | 21.62% | 28.38% | 27.43% | 29.24% | 28.33% | 47.2% | 35.32% | 13.28% | 19.68% | 48.33% |
| Depreciation & Amortization | 58.8M | 57.08M | 40.67M | 32.04M | 27.65M | 27.46M | 27.97M | 28.46M | 26.95M | 25.55M | 24.65M | 24.64M | 24.61M | 24.51M | 23.14M | 24.4M | 20.27M | 18.55M | 15.71M |
| Combined Ratio % | 101.69% | 116.78% | 99.49% | 99.12% | 92.54% | 86.29% | 101.69% | 95.42% | 95.14% | 90.94% | 110.39% | 99.97% | 105.6% | 98.89% | 126.87% | 111.63% | 88.87% | 83.5% | 123.4% |
| Operating Income | -8.34M | -89.31M | 1.77M | 3.22M | 27.94M | 56.02M | -5.47M | 15.41M | 16.46M | 34.26M | -29.73M | 86K | -16.53M | 3.62M | -66.42M | -29.86M | 25.44M | 39.74M | -37.88M |
| Operating Margin % | -1.69% | -16.78% | 0.51% | 0.88% | 7.46% | 13.71% | -1.69% | 4.58% | 4.86% | 9.06% | -10.39% | 0.03% | -5.6% | 1.11% | -26.87% | -11.63% | 11.13% | 16.5% | -23.4% |
| Operating Income Growth % | -129.86% | -259.43% | 132.43% | -79.13% | 69.77% | 63.52% | 81.58% | 17813.95% | 199.56% | 846.62% | 55.25% | 100.29% | -164.98% | -90.89% | -75.34% | - | - | - | - |
| EBITDA | 50.46M | -32.23M | 42.45M | 35.26M | 55.59M | 83.48M | 22.5M | 43.86M | 43.41M | 59.8M | -5.08M | 24.72M | 8.08M | 28.13M | -43.28M | -5.46M | 45.71M | 58.29M | -22.17M |
| EBITDA Margin % | 10.24% | -6.06% | 12.22% | 9.65% | 14.85% | 20.43% | 6.96% | 13.05% | 12.82% | 15.82% | -1.77% | 8.13% | 2.74% | 8.59% | -17.51% | -2.13% | 19.99% | 24.2% | -13.69% |
| Interest Expense | 45.67M | 38.9M | 29M | 31.13M | 0 | 0 | 0 | 0 | 0 | 31.55M | 31.86M | 30.58M | 29.14M | 27.88M | 25.32M | 20.77M | 14.63M | 10.35M | 8.47M |
| Non-Operating Income | 2.55M | 18.21M | 15.4M | -1.98M | 1.96M | -8.06M | 22.23M | 952K | -5.55M | -12.68M | -6.02M | -13.91M | -16.39M | -24.76M | -43.12M | -21.7M | 26.87M | 5.63M | -22.03M |
| Pretax Income | -56.56M | -146.42M | -42.63M | -30.24M | -4.46M | 24.9M | -35.26M | -14.47M | -29.38M | 39.77M | -62.12M | -31.84M | -43M | -25.78M | -90.76M | -46.71M | 16.59M | 44.84M | -44.39M |
| Pretax Margin % | -11.47% | -27.51% | -12.28% | -8.28% | -1.19% | 6.09% | -10.9% | -4.31% | -8.68% | 10.52% | -21.7% | -10.48% | -14.58% | -7.88% | -36.72% | -18.19% | 7.26% | 18.61% | -27.42% |
| Income Tax | -580K | -144.52M | 1.04M | 0 | 685K | 0 | -420K | 0 | 1.48M | 667K | 381K | 161K | 665K | 78K | 715K | 0 | 0 | 0 | 19K |
| Effective Tax Rate % | 1.03% | 98.71% | -2.45% | 0% | -15.37% | 0% | 1.19% | 0% | -5.05% | 1.68% | -0.61% | -0.51% | -1.55% | -0.3% | -0.79% | 0% | 0% | 0% | -0.04% |
| Net Income | -38.99M | 2.34M | -25.86M | -18.73M | -3.16M | 13.94M | -20.16M | -8.38M | -17.56M | 21.58M | -34.48M | -17.63M | -23.9M | -14.13M | -48.49M | -24.79M | 8.64M | 22.87M | -22.67M |
| Net Margin % | -7.91% | 0.44% | -7.45% | -5.13% | -0.85% | 3.41% | -6.23% | -2.49% | -5.18% | 5.71% | -12.05% | -5.8% | -8.1% | -4.32% | -19.62% | -9.66% | 3.78% | 9.49% | -14% |
| Net Income Growth % | -1132.46% | -83.21% | -28.27% | -123.55% | 81.98% | -35.4% | 41.53% | 52.48% | 26.53% | 252.69% | 28.89% | 28.9% | -376.52% | -161.8% | -113.89% | - | - | - | - |
| EPS (Diluted) | -0.56 | 0.03 | -0.37 | -0.27 | -0.05 | 0.20 | -0.31 | -0.13 | -0.28 | 0.33 | -0.56 | -0.29 | -0.40 | -0.24 | -0.84 | -0.43 | 0.14 | 0.39 | -0.41 |
| EPS Growth % | -1104.3% | -83.05% | -19.35% | -107.69% | 83.39% | -39.39% | 44.64% | 55.17% | 30% | 237.5% | 33.33% | 32.56% | -385.71% | -161.54% | -104.88% | - | - | - | - |
| EPS (Basic) | -0.56 | 0.03 | -0.37 | -0.27 | -0.05 | 0.21 | -0.31 | -0.13 | -0.28 | 0.35 | -0.56 | -0.29 | -0.40 | -0.24 | -0.84 | -0.43 | 0.15 | 0.41 | -0.41 |
| Diluted Shares Outstanding | 69.05M | 69.05M | 69.05M | 68.6M | 68.01M | 69.33M | 64.8M | 64.01M | 63.12M | 65.31M | 61.15M | 60.55M | 60.09M | 58.71M | 58M | 57.28M | 59.86M | 58.72M | 54.88M |