BWIN Q4 2025 Earnings — The Baldwin Insurance Group, Inc. Revenue & Financial Results | Market Cap Arena

BWINThe Baldwin Insurance Group, Inc.

$1B

Q4 2025 Earnings

Financial Services Insurance - Brokers

Income Statement

Revenue

$347M+7.4% YoY

Gross Profit

$14M4.0% margin

Operating Income

$2M0.5% margin

Net Income

-$26M-7.4% margin

EPS (Diluted)

$-0.37

QoQ Revenue Growth

-5.0%

Cash Flow

Operating Cash Flow

$10M

Free Cash Flow

-$84,000

Stock-Based Comp.

$19M

Balance Sheet

Total Assets

$3.9B

Total Liabilities

$2.8B

Stockholders' Equity

$600M

Cash & Equivalents

$124M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$347M	$323M	+7.4%
Gross Profit	$14M	$45M	-69.5%
Operating Income	$2M	-$5M	+132.4%
Net Income	-$26M	-$20M	-28.3%

Revenue Segments

Commission Revenue

$548M78%

Profit Sharing Revenue

$50M7%

Consulting and Service Fee Revenue

$48M7%

Policy Fee and Installment Fee Revenue

$41M6%

Earned Premium

$13M2%

Insurance, Other

$7M1%