Baldwin Insurance Group (BWIN) AI Stock Analysis

• Market Cap: $2.71B
• Dividend Yield: N/A
• Average Volume (3M): 829.71K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.70
• Revenue Growth: 11.43%
• EPS Growth: 64.61%
• Country: US
• Employees: 4,000
• Sector: Financial
• Sector Strength: 70
• Industry: Insurance - Brokers
• EPS (TTM): 0.42
• Shares Outstanding: 71,314,980
• 10 Day Avg. Volume: 895,905
• 30 Day Avg. Volume: 829,711
• PEG Ratio: 1.36
• Price to Book (P/B): 4.22
• Price to Sales (P/S): 1.79
• P/FCF Ratio: 40.25
• Enterprise Value/Market Cap: 1.72
• Enterprise Value/Revenue: 3.22
• Enterprise Value/Gross Profit: 12.10
• Enterprise Value/Ebitda: 24.66
• 1Y Price Target: $37.17
• Price Target Upside: 57.77% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7

• Rating: 40 Underperform
• Price Target: $22.50 ▼(-4.50% Downside)

Baldwin Insurance Group's overall stock score is primarily impacted by its weak financial performance and poor valuation metrics. The technical analysis further indicates bearish trends, contributing to a lower score. Despite some positive highlights from the earnings call, the company's profitability and cash flow challenges remain significant concerns.

Positive Factors

Organic Revenue Growth

The company's ability to achieve 11% organic revenue growth indicates strong demand for its services and effective business strategies, which can drive sustainable long-term growth.

Strategic Acquisitions

Strategic acquisitions, such as Hippo's network, enhance product offerings and market reach, positioning the company for future growth and competitive advantage.

New Embedded Partners

The addition of new embedded partners expands the company's distribution channels, potentially increasing market penetration and revenue streams over the long term.

Negative Factors

Profitability Challenges

Ongoing profitability challenges, as indicated by a negative net profit margin, could hinder the company's ability to reinvest in growth and maintain financial stability.

Cash Flow Weakness

Weak cash flow performance limits the company's ability to fund operations and strategic initiatives, potentially impacting long-term growth and financial health.

GAAP Net Loss

A GAAP net loss reflects underlying financial difficulties, which may affect investor confidence and the company's capacity to sustain operations without external financing.

Baldwin Insurance Group Business Overview & Revenue Model

Company Description

Baldwin Insurance Group (BWIN) is a comprehensive insurance brokerage firm specializing in a wide range of insurance products including auto, home, life, and commercial insurance. With a strong focus on customer service and tailored coverage options, BWIN serves both individual and business clients, helping them navigate the complexities of insurance to find the best solutions for their unique needs. The company operates primarily in the property and casualty insurance sectors and is known for its commitment to providing value and security to its clients.

How the Company Makes Money

Baldwin Insurance Group generates revenue through various channels within the insurance industry. The primary revenue stream comes from commissions earned on insurance policies sold to clients, which typically range from 5% to 20% of the policy premium, depending on the type of insurance. Additionally, BWIN may charge fees for consulting services, risk assessments, and policy management. The company also benefits from strategic partnerships with leading insurance carriers, which can enhance its product offerings and competitive positioning in the market. Furthermore, BWIN may engage in cross-selling opportunities, increasing the lifetime value of its clients by providing multiple insurance products, thereby boosting overall revenue.

Baldwin Insurance Group Financial Statement Overview

Summary

Baldwin Insurance Group faces challenges in profitability and cash flow, despite some revenue growth and improved leverage. The company needs to address operational inefficiencies and enhance cash flow generation to improve its financial health.

Income Statement

Baldwin Insurance Group shows modest revenue growth with a TTM increase of 2.45%. However, the company struggles with profitability, as indicated by a negative net profit margin of -1.23% in the TTM. The gross profit margin has declined from previous years, reflecting increased cost pressures. EBIT and EBITDA margins are relatively low, suggesting operational challenges.

Balance Sheet

The company's debt-to-equity ratio has improved significantly in the TTM, indicating better leverage management. However, the return on equity remains negative, highlighting ongoing profitability issues. The equity ratio is stable, suggesting a solid asset base relative to equity.

Cash Flow

Cash flow performance is weak, with negative operating and free cash flows in the TTM. Despite a significant increase in free cash flow growth, the operating cash flow to net income ratio is negative, indicating cash flow challenges. The free cash flow to net income ratio is positive, suggesting some ability to cover net losses with free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.44B	1.38B	1.22B	980.72M	567.29M	240.92M
Gross Profit	383.78M	344.19M	334.21M	174.92M	115.73M	46.64M
EBITDA	188.36M	164.62M	115.26M	88.82M	65.08M	18.75M
Net Income	-17.76M	-24.52M	-90.14M	-76.03M	-58.10M	-29.89M
Balance Sheet
Total Assets	3.74B	3.53B	3.50B	24.08M	82.54M	4.00M
Cash, Cash Equivalents and Short-Term Investments	105.69M	148.12M	116.21M	230.47M	227.74M	142.02M
Total Debt	1.70B	1.64B	1.63B	12.49M	17.50M	5.34M
Total Liabilities	2.69B	2.53B	2.48B	619.00K	592.00K	455.00K
Stockholders Equity	630.80M	583.22M	560.41M	3.46B	2.88B	1.53B
Cash Flow
Free Cash Flow	-104.81M	61.10M	23.27M	-24.44M	34.81M	31.35M
Operating Cash Flow	-62.15M	102.15M	44.64M	-2.46M	40.13M	36.82M
Investing Cash Flow	-68.50M	13.30M	-21.92M	-414.36M	-678.47M	-677.79M
Financing Cash Flow	154.18M	-29.64M	-26.23M	419.55M	724.06M	711.92M

Baldwin Insurance Group Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 23.56
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BWIN, the sentiment is Negative. The current price of 23.56 is below the 20-day moving average (MA) of 26.89, below the 50-day MA of 29.85, and below the 200-day MA of 37.65, indicating a bearish trend. The MACD of -1.91 indicates Positive momentum. The RSI at 29.09 is Positive, neither overbought nor oversold. The STOCH value of 12.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BWIN.

Baldwin Insurance Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CRD.B	68 Neutral	$529.39M	16.76	18.06%	2.80%	5.58%	28.75%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
TWFG	67 Neutral	$1.42B	65.60	8.26%	―	17.86%	-77.16%
CRD.A	65 Neutral	$515.34M	17.89	18.06%	2.64%	5.58%	28.75%
CRVL	60 Neutral	$3.92B	39.12	33.25%	―	12.46%	29.16%
SLQT	59 Neutral	$348.25M	―	10.66%	―	15.50%	―
BWIN	40 Underperform	$2.71B	―	-2.91%	―	11.43%	64.61%

Baldwin Insurance Group Corporate Events

Baldwin Insurance Group Amends Credit Agreement

On September 18, 2025, Baldwin Insurance Group Holdings, LLC amended its Credit Agreement with JPMorgan Chase Bank and other lenders to reprice its $931.1 million senior secured first lien term loan facility and add $75 million in incremental term B loans, increasing the total to $1,006 million. This amendment aims to optimize Baldwin’s financial structure by reducing the applicable margin for its revolving credit loans and using the new funds to pay down existing borrowings, potentially enhancing its financial flexibility and market positioning.

The most recent analyst rating on (BWIN) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Baldwin Insurance Group stock, see the BWIN Stock Forecast page.

Baldwin Insurance Group’s Mixed Earnings Call Highlights

The recent earnings call for Baldwin Insurance Group, Inc. presented a mixed sentiment. While the company showcased robust financial performance and impressive growth in certain segments like Insurance Advisory Solutions and UCTS, it also faced challenges in Mainstreet Insurance Solutions and the Medicare business. Additionally, a reduction in full-year guidance and a reported GAAP net loss were noted. Despite these hurdles, Baldwin remains optimistic about its strategic initiatives and future growth prospects.

The Baldwin Group Reports Strong Q2 2025 Results

The Baldwin Insurance Group, Inc., operating under the brand name The Baldwin Group, is an independent insurance distribution firm that provides tailored insurance solutions to personal and commercial clients across the United States and internationally.