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The Baldwin Insurance Group, Inc. BWIN Q3 2025 earnings

Reported November 4, 2025 · After market close

Revenue$365.4MBeat by $13.6M
EPS$0.31Beat by $0.01
Revenue estimate$351.8M
EPS estimate$0.30

Next report

Jul 30, 2026 (Tomorrow)
Revenue estimate$492.3M
EPS estimate$0.46

Financials

Q3 2025

Income statement

See full
Revenue$365.4M+7.8%
Operating income$3.2M-79.1%
Net income-$18.7M-124%
EPS (diluted)-$0.27-108%

Balance sheet

See full
Cash & equivalents$325.9M-5.4%
Total debt$1.7B+10.8%
Total equity$619.7M+4.1%
Total assets$3.8B+7.2%

Cash flow

See full
CapEx$8.9M-13.0%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$2.01B-36.0%
Enterprise value$3.34B-22.2%
P/S1.4×-1.0×

Profitability

See full
Operating margin5.9%+3.2pp
Net margin-1.9%-0.5pp

Returns & leverage

See full
Return on equity-4.6%-1.0pp
Debt / equity2.7×+0.2×
Current ratio1.2×+0.2×

Segments

By product

See full
Commission revenue(1)$277.4M+2.7%
Profit-sharing revenue$28.7M+7.2%
Consulting and service fee revenue$26.9M+39.8%
Policy fee and installment fee revenue$20.6M+28.7%
Assumed premium earned$5.9M—

By segment

See full
Insurance Advisory Solutions$158.5M-0.5%
Underwriting, Capacity & Technology Solutions$147.3M+13.5%
Mainstreet Insurance Solutions Segment$76.5M+8.2%
Corporate Segment and Other Operating Segment-$16.9M+19.1%

Versus estimates

Revenue

Q1 2026$532.2MBeat by $8.2MQ4 2025$347.3MMiss by $4.9M
Q3 2025$365.4MBeat by $13.6M
Q2 2025$374.3MBeat by $9.3MQ1 2025$408.5MBeat by $29.3MQ4 2024$323.4MMiss by $4.0M

Diluted EPS

Q1 2026$0.63Miss by $0.01Q4 2025$0.31Beat by $0.02
Q3 2025$0.31Beat by $0.01
Q2 2025$0.42Beat by $0.01Q1 2025$0.65In lineQ4 2024$0.27In line

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Questions, answered.

When did The Baldwin Insurance Group, Inc. report Q3 2025 earnings?
The Baldwin Insurance Group, Inc. (BWIN) reported Q3 2025 earnings on November 4, 2025 after market close.
What were The Baldwin Insurance Group, Inc.'s Q3 2025 revenue and EPS?
The Baldwin Insurance Group, Inc. reported revenue of $365.4M and eps of $0.31 for Q3 2025.
Did The Baldwin Insurance Group, Inc. beat estimates in Q3 2025?
Revenue beat the consensus estimate of $351.8M by $13.6M. EPS beat the consensus estimate of $0.30 by $0.01.
How did The Baldwin Insurance Group, Inc.'s Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 8.7% from $336.0M a year earlier and eps declined 6.1% from $0.33.
Where can I find The Baldwin Insurance Group, Inc.'s Q3 2025 SEC filings?
You can read the 8-K earnings release (0001781755-25-000107) and the 10-Q periodic report (0001781755-25-000109) directly on SEC EDGAR. The filing index links above go to sec.gov.