# Baldwin Insurance Group, Inc.: overview

BWIN · Nasdaq · CIK 1781755 · [Financials](/sectors/financials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/bwin.md) · [Financials](/companies/bwin/financials.md) · [Filings](/companies/bwin/filings.md) · [Insiders](/companies/bwin/insiders.md)

Latest reported revenue: [$488.8m](/filings/0001781755-26-000049.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Jul 30, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001781755-26-000049).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [335](/filings/0001781755-25-000109.md) | [327 d](/filings/0001781755-26-000018.md) | [411](/filings/0001781755-26-000034.md) | [376](/filings/0001781755-26-000049.md) | [362](/filings/0001781755-25-000109.md) | [345 d](/filings/0001781755-26-000018.md) | [529](/filings/0001781755-26-000034.md) | [489](/filings/0001781755-26-000049.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [4.6%](/filings/0001781755-25-000109.md) | [(1.7%) d](/filings/0001781755-26-000018.md) | [13.6%](/filings/0001781755-26-000034.md) | [7.4%](/filings/0001781755-26-000049.md) | [0.9%](/filings/0001781755-25-000109.md) | [(3.8%) d](/filings/0001781755-26-000018.md) | [(19.1%)](/filings/0001781755-26-000034.md) | [(1.7%)](/filings/0001781755-26-000049.md) |
| Net margin | % | [(2.5%)](/filings/0001781755-25-000109.md) | [(6.2%) d](/filings/0001781755-26-000018.md) | [3.4%](/filings/0001781755-26-000034.md) | [(0.8%)](/filings/0001781755-26-000049.md) | [(5.2%)](/filings/0001781755-25-000109.md) | [(7.5%) d](/filings/0001781755-26-000018.md) | [0.4%](/filings/0001781755-26-000034.md) | [(8.0%)](/filings/0001781755-26-000049.md) |
| Diluted EPS | $ per share | [(0.13)](/filings/0001781755-25-000109.md) | not reported | [0.20](/filings/0001781755-26-000034.md) | [(0.05)](/filings/0001781755-26-000049.md) | [(0.27)](/filings/0001781755-25-000109.md) | not reported | [0.02](/filings/0001781755-26-000034.md) | [(0.42)](/filings/0001781755-26-000049.md) |
| Free cash flow | $m | [22.2 d](/filings/0001781755-25-000109.md) | [(14.5) d](/filings/0001781755-26-000018.md) | [(72.9)](/filings/0001781755-26-000034.md) | [(28.1) d](/filings/0001781755-26-000049.md) | [32.2 d](/filings/0001781755-25-000109.md) | [(0.1) d](/filings/0001781755-26-000018.md) | [(18.7)](/filings/0001781755-26-000034.md) | [30.4 d](/filings/0001781755-26-000049.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [567](/filings/0001781755-24-000016.md) | [981](/filings/0001781755-25-000017.md) | [1,212](/filings/0001781755-26-000018.md) | [1,377](/filings/0001781755-26-000018.md) | [1,494](/filings/0001781755-26-000018.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(5.6%)](/filings/0001781755-24-000016.md) | [(3.2%)](/filings/0001781755-25-000017.md) | [(3.5%)](/filings/0001781755-26-000018.md) | [4.4%](/filings/0001781755-26-000018.md) | [4.9%](/filings/0001781755-26-000018.md) |
| Net margin | % | [(5.4%)](/filings/0001781755-24-000016.md) | [(4.3%)](/filings/0001781755-25-000017.md) | [(7.4%)](/filings/0001781755-26-000018.md) | [(1.8%)](/filings/0001781755-26-000018.md) | [(2.3%)](/filings/0001781755-26-000018.md) |
| Diluted EPS | $ per share | [(0.64)](/filings/0001781755-24-000016.md) | [(0.74)](/filings/0001781755-25-000017.md) | [(1.50)](/filings/0001781755-26-000018.md) | [(0.39)](/filings/0001781755-26-000018.md) | [(0.50)](/filings/0001781755-26-000018.md) |
| Free cash flow | $m | [34.8](/filings/0001781755-24-000016.md) | [(24.4)](/filings/0001781755-25-000017.md) | [(21.3)](/filings/0001781755-26-000018.md) | [10.4](/filings/0001781755-26-000018.md) | [(68.9)](/filings/0001781755-26-000018.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/bwin/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [FMR LLC](/funds/315066.md) | 2026-06-30 | $392.1m | 14,752,216 |  | Added +798,154 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $192.8m | 7,251,950 |  | Added +600,650 |
| [WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC](/funds/1644956.md) | 2026-06-30 | $179.0m | 6,732,965 |  | Reduced −61,527 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $86.7m | 3,262,912 |  | Reduced −212,219 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $84.2m | 3,166,381 |  | Reduced −298,538 |
| [Bank of New York Mellon Corp](/funds/1390777.md) | 2026-06-30 | $81.8m | 3,077,351 |  | Reduced −840,736 |
| [BAMCO INC /NY/](/funds/1017918.md) | 2026-06-30 | $72.1m | 2,712,386 |  | Added +2,318 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $70.8m | 2,665,874 |  | Added +192,620 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $62.2m | 2,339,453 |  | Added +188,420 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $60.5m | 2,277,033 |  | Added +473,826 |

## Recent filings

[All 877 filings](/companies/bwin/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-09 | 16:07 ET | [8-K](/filings/0001781755-26-000058.md) | 9.01 Financial statements and exhibits | 0001781755-26-000058 |
| 2026-09-21 | 06:52 ET | [8-K](/filings/0001781755-26-000053.md) | 5.02 Departure or appointment of officers or directors | 0001781755-26-000053 |
| 2026-09-14 | 09:19 ET | [8-K](/filings/0000950103-26-013874.md) | 1.01 Entry into a material agreement; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0000950103-26-013874 |
| 2026-07-30 | 16:40 ET | [10-Q](/filings/0001781755-26-000049.md) | Quarterly report, period 2026-06-30 | 0001781755-26-000049 |
| 2026-07-30 | 16:11 ET | [8-K](/filings/0001781755-26-000047.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001781755-26-000047 |
| 2026-06-04 | 16:35 ET | [8-K](/filings/0001781755-26-000042.md) | 5.02 Departure or appointment of officers or directors; 5.07 Shareholder vote results | 0001781755-26-000042 |
| 2026-05-04 | 16:54 ET | [10-Q](/filings/0001781755-26-000034.md) | Quarterly report, period 2026-03-31 | 0001781755-26-000034 |
| 2026-05-04 | 16:19 ET | [8-K](/filings/0001781755-26-000032.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001781755-26-000032 |
| 2026-04-22 | 17:05 ET | [DEF 14A](/filings/0001781755-26-000027.md) | Proxy statement, period 2026-06-04 | 0001781755-26-000027 |
| 2026-02-26 | 17:25 ET | [10-K](/filings/0001781755-26-000018.md) | Annual report, period 2025-12-31 | 0001781755-26-000018 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001781755-26-000018.md), filed Feb 26, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/2afc0659-0098-41b3-9e06-50a694f814e7)

## About the filer

- CIK: 1781755
- Tickers: BWIN
- Exchange: Nasdaq
- SIC code: 6411 Insurance Agents, Brokers & Service
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 27, 2026, 09:03 ET. No prices; not investment advice.