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The Baldwin Insurance Group, Inc. BWIN Benefits and other — Colleague compensation and benefits

Other product segments

Fixed compensation
$109.11M+38.9%
Inside advisor commissions
$95.25M+48.3%
Share-based compensation
$12.82M+0.1%
Severance
$6.32M+424%

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Other financials

Income statement

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Revenue$532.2M+28.7%
Operating income-$101.3M-281%
Net income$2.3M-83.2%
EPS (diluted)$0.02-90.0%

Balance sheet

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Cash & equivalents$456.1M+52.5%
Total debt$2.3B+42.5%
Total equity$963.9M+55.6%
Total assets$5.9B+67.5%

Cash flow

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Operating cash flow-$6.1M+90.5%
CapEx$12.7M+41.8%
Free cash flow-$18.7M+74.3%

Valuation

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Market cap$2.77B+27.8%
Enterprise value$4.58B+35.9%
P/S1.7×+0.2×

Profitability

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Operating margin5.9%+3.2pp
Net margin-2.8%+0.9pp
FCF margin-0.4%

Returns & leverage

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Return on equity-5.7%+0.5pp
Debt / equity2.4×-0.2×
Current ratio1.1×0.0×

Where this comes from

Reported directly by The Baldwin Insurance Group, Inc. in its filing.

Tagged under the XBRL concept us-gaap:LaborAndRelatedExpense.

The source filing: The Baldwin Insurance Group, Inc.’s 10-Q, filed May 4, 2026.

Filed
May 4, 2026, 4:54 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001781755-26-000034
(in thousands)Insurance Advisory SolutionsUnderwriting, Capacity & Technology SolutionsMainstreet Insurance SolutionsCorporateand OtherTotal
Expenses:
Inside advisor commissions85,7146538,87995,246
Fixed compensation78,01418,46910,2252,401109,109
Benefits and other37,19412,1287,2423,55160,115
Share-based compensation5,6622,9651,4162,77512,818
Severance5,340258581016,324
Colleague compensation and benefits211,92434,24028,6208,828283,612
Outside commissions(1)4,67657,76020,266(16,023)66,679

Item 1. Financial Statements (Unaudited)

FAQ

What is The Baldwin Insurance Group, Inc.'s benefits and other — colleague compensation and benefits?
The Baldwin Insurance Group, Inc. (BWIN) reported benefits and other — colleague compensation and benefits of $60.12M in Q1 2026.
How has The Baldwin Insurance Group, Inc.'s benefits and other — colleague compensation and benefits changed year-over-year?
The Baldwin Insurance Group, Inc.'s benefits and other — colleague compensation and benefits increased by 35.2% year-over-year, from $44.47M to $60.12M.
What is the long-term trend for The Baldwin Insurance Group, Inc.'s benefits and other — colleague compensation and benefits?
Over 3 years (2022 to 2025), The Baldwin Insurance Group, Inc.'s benefits and other — colleague compensation and benefits has grown at a 11.8% compound annual growth rate (CAGR), from $113.15M to $158.1M.
What does benefits and other — colleague compensation and benefits mean?
This metric represents the total personnel-related expenses, including salaries, bonuses, and employee benefits, specifically allocated to the Benefits and other business segment. It serves as a primary indicator of the human capital investment required to support the delivery of consulting and insurance services within this division. Monitoring this figure helps investors assess the operating leverage and cost structure associated with the segment's revenue-generating activities.

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