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The Baldwin Insurance Group, Inc. BWIN Mainstreet Insurance Solutions Segment — Outside commissions

Other segment segments

Underwriting, Capacity & Technology Solutions
$57.76M-5.6%
Corporate Segment and Other Operating Segment
-$16.02M+11.3%
Insurance Advisory Solutions
$4.68M+28.5%

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$2.22M-0.7%

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

See full
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:OutsideCommissions.

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
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
Selling expense11,6652,1393,0141,79718,615
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)

Item 1. Financial Statements (Unaudited)

FAQ

What is The Baldwin Insurance Group, Inc.'s mainstreet insurance solutions segment — outside commissions?
The Baldwin Insurance Group, Inc. (BWIN) reported mainstreet insurance solutions segment — outside commissions of $20.27M in Q1 2026.
How has The Baldwin Insurance Group, Inc.'s mainstreet insurance solutions segment — outside commissions changed year-over-year?
The Baldwin Insurance Group, Inc.'s mainstreet insurance solutions segment — outside commissions increased by 6.2% year-over-year, from $19.09M to $20.27M.
What is the long-term trend for The Baldwin Insurance Group, Inc.'s mainstreet insurance solutions segment — outside commissions?
Over 2 years (2023 to 2025), The Baldwin Insurance Group, Inc.'s mainstreet insurance solutions segment — outside commissions has grown at a 9.4% compound annual growth rate (CAGR), from $62.46M to $74.8M.
What does mainstreet insurance solutions segment — outside commissions mean?
Represents commission payments made to third-party agents or brokers who assist in the distribution of insurance products within the Mainstreet Insurance Solutions segment. This metric reflects the cost of utilizing external sales channels to drive revenue. It is a critical component of the segment's variable cost structure.

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