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The Baldwin Insurance Group, Inc. BWIN Insurance Advisory Solutions — Total expense

Other segment segments

Underwriting, Capacity & Technology Solutions
$132.44M+22.8%
Mainstreet Insurance Solutions Segment
$70.84M+12.6%
Corporate Segment and Other Operating Segment
$41.94M+12.8%

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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 bwin:CostsAndExpensesOperatingAndNonoperating.

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
Operating expense28,08027,3205,870143,611204,881
Administrative expense32,29810,55712,90648,293104,054
All other expenses (income), net(2)271421160(144,562)(143,710)
Total expense288,914132,43770,83641,944534,131
Net income (loss)$42,282$2,506$10,822$(57,506)$(1,896)
Other segment disclosures:
Change in fair value of contingent consideration$298$1,434$237$1,969
Depreciation and amortization expense32,25510,23612,8801,70757,078

Item 1. Financial Statements (Unaudited)

FAQ

What is The Baldwin Insurance Group, Inc.'s insurance advisory solutions — total expense?
The Baldwin Insurance Group, Inc. (BWIN) reported insurance advisory solutions — total expense of $288.91M in Q1 2026.
How has The Baldwin Insurance Group, Inc.'s insurance advisory solutions — total expense changed year-over-year?
The Baldwin Insurance Group, Inc.'s insurance advisory solutions — total expense increased by 60.0% year-over-year, from $180.59M to $288.91M.
What is the long-term trend for The Baldwin Insurance Group, Inc.'s insurance advisory solutions — total expense?
Over 3 years (2022 to 2025), The Baldwin Insurance Group, Inc.'s insurance advisory solutions — total expense has grown at a 6.6% compound annual growth rate (CAGR), from $551.82M to $669.38M.
What does insurance advisory solutions — total expense mean?
This metric aggregates all costs incurred by the Insurance Advisory Solutions segment, including compensation, administrative overhead, and operational expenses. It serves as a comprehensive measure of the cost structure required to support the segment's insurance advisory and distribution activities. Tracking this allows for the evaluation of operational efficiency and cost management discipline within the business unit.

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