Baldwin Insurance Group, Inc. (BWIN)
Baldwin Insurance Group, Inc. brought in $1.9B of revenue over the twelve months to September 30, 2026, up 24.6% from a year earlier. It posted a net loss of $120.6M. In fiscal 2025 capital spending exceeded operating cash flow by $68.9M. At September 30, 2026 it held $188.6M in cash against $20.1M of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 9, 2026.
Key facts about Baldwin Insurance Group, Inc.
- Net worth
- Baldwin Insurance Group, Inc. has a market value (market cap) of $4.5B at the latest share price, and shareholders' equity of $856.5M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $1.5B (+8.3% year on year), with a net loss of $33.8M. Over the 12 months to September 30, 2026: revenue $1.9B, net loss $120.6M.
- Cash flow
- In fiscal 2025 operations used $29.4M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 9, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Baldwin Insurance Group, Inc.'s next report is expected around February 25, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What Baldwin Insurance Group, Inc. does
Baldwin Insurance Group, Inc. is registered with the SEC under industry code SIC 6411 (Insurance Agents, Brokers & Service). Its shares trade on NASDAQ under the ticker BWIN.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $1.5B | -$33.8M | -$0.50 | -$68.9M |
| 2024 | $1.4B | -$24.5M | -$0.39 | $10.4M |
| 2023 | $1.2B | -$90.1M | -$1.50 | -$21.3M |
| 2022 | $980.7M | -$41.8M | -$0.74 | -$24.4M |
| 2021 | $567.3M | -$30.6M | -$0.64 | $34.8M |
| 2020 | n/a | -$15.7M | -$0.58 | $31.3M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where BWIN ranks in Finance
Latest SEC filings
What Baldwin Insurance Group, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 9, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 31% to $480.3M versus the same quarter last year; diluted EPS -$0.63 versus -$0.27.
- November 9, 2026
- November 6, 2026Form SC 13E3/A filing SC 13E3/A
- November 6, 2026Form PRER14A filing PRER14A
- November 6, 2026Passive stake changed SCHEDULE 13G/A
- October 27, 2026
- October 15, 2026Form SC 13E3 filing SC 13E3
- October 15, 2026Form PREM14A filing PREM14A
- October 9, 2026Exhibits 8-K
- October 7, 2026Passive stake changed SCHEDULE 13G/A
Insider trades
What the people running Baldwin Insurance Group, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 11 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| October 14, 2026 | Baldwin LowryDirector, 10% owner | Other changeindirect | 8,350 | - |
| October 1, 2026 | Sullivan Chris ThomasDirector | Received as pay | 824 | - |
| October 1, 2026 | Kadow Joseph JohnDirector | Received as pay | 824 | - |
| October 1, 2026 | Shook EllynDirector | Received as pay | 824 | - |
| October 1, 2026 | Matas Barbara RuthDirector | Received as pay | 824 | - |
| October 1, 2026 | Cohen Jay ADirector | Received as pay | 824 | - |
| October 1, 2026 | Williams Myron KDirector | Received as pay | 824 | - |
| October 1, 2026 | Parasuraman SunitaDirector | Received as pay | 824 | - |
Who owns BWIN
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| L. Lowry Baldwin13G, passive with 6 related filers | 17% | May 8, 2026 |
| Fmr LLC13G, passive with 1 related filers | 15% | November 5, 2025 |
| William Blair Investment Management, LLC13G, passive | 7% | May 7, 2026 |
| Glazer Capital, LLC13G, passive with 1 related filers | 5.35% | September 25, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 227 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Fmr LLC | 14,752,216 | +798,154 |
| BlackRock, Inc. | 7,251,950 | +600,650 |
| William Blair Investment Management, LLC | 6,732,965 | -61,527 |
| Vanguard Portfolio Management LLC | 3,262,912 | -212,219 |
| Vanguard Capital Management LLC | 3,166,381 | -298,538 |
| Bank of New York Mellon Corp | 3,077,351 | -840,736 |
| Bamco Inc | 2,712,386 | +2,318 |
| State Street Corp | 2,665,874 | +192,620 |
| Geode Capital Management, LLC | 2,339,453 | +188,420 |
| Morgan Stanley | 2,277,033 | +473,826 |
| Woodline Partners LP | 2,264,135 | +1,774,195 |
| Frontier Capital Management Co LLC | 2,097,658 | +995,206 |
| Westwood Holdings Group Inc | 1,938,370 | -638,826 |
| Nomura Asset Management International Inc. | 1,912,711 | -67,172 |
| Capital International Investors | 1,690,697 | +47,140 |
| UBS Group AG | 1,641,349 | +374,524 |
| Annis Gardner Whiting Capital Advisors, LLC | 1,582,587 | -134,951 |
| Dimensional Fund Advisors LP | 1,346,168 | +12,297 |
| Capital Research Global Investors | 1,308,203 | -234,646 |
| Boston Partners | 1,192,820 | +420,117 |
Insiders
18 insiders reported holding 28,181,770 shares in total, about $906M at the last price.
| Holder | Shares |
|---|---|
| Baldwin LowryDirector, 10% owner | 12,545,94012,545,940 held indirectly |
| Bigh, LLC10% owner | 12,537,590 |
| Roche James MorganSee Remarks | 1,104,223 |
| Sparks Paul EugeneDirector | 999,568996,706 held indirectly |
| Krystyn ElizabethMember of 10% Owner Group | 396,912396,912 held indirectly |
| Hale BradfordChief Financial Officer | 174,501 |
| Baldwin TrevorChief Executive Officer, Director | 104,549 |
| Sullivan Chris ThomasDirector | 86,506 |
| Lichon Corbyn N.Chief Accounting Officer | 57,291 |
| Galbraith DanielSee Remarks | 43,486 |
Questions about BWIN
What does Baldwin Insurance Group, Inc. do?
Baldwin Insurance Group, Inc. is a company in the Finance sector, listed on NASDAQ as BWIN. Its shares trade on NASDAQ under the ticker BWIN.
What is Baldwin Insurance Group, Inc.'s net worth?
Baldwin Insurance Group, Inc. has a market value (market cap) of $4.5B at the latest share price, and shareholders' equity of $856.5M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Baldwin Insurance Group, Inc. profitable?
No. Over the twelve months to September 30, 2026 it reported a net loss of $120.6M on revenue of $1.9B.
How much revenue does Baldwin Insurance Group, Inc. make?
Over the twelve months to September 30, 2026 Baldwin Insurance Group, Inc. reported revenue of $1.9B. That is 24.6% more than a year earlier.
When did Baldwin Insurance Group, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 9, 2026. It covers the period to September 30, 2026.
When is Baldwin Insurance Group, Inc.'s next earnings report?
Baldwin Insurance Group, Inc.'s next report is expected around February 25, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Baldwin Insurance Group, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.