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The Baldwin Insurance Group, Inc. BWIN Underwriting, Capacity & Technology Solutions — Selling Expense

Other segment segments

Insurance Advisory Solutions
$11.67M+91.3%
Mainstreet Insurance Solutions Segment
$3.01M-25.2%
Corporate Segment and Other Operating Segment
$1.8M-16.5%

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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:SellingExpense.

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
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)
Total expense288,914132,43770,83641,944534,131

Item 1. Financial Statements (Unaudited)

FAQ

What is The Baldwin Insurance Group, Inc.'s underwriting, capacity & technology solutions — selling expense?
The Baldwin Insurance Group, Inc. (BWIN) reported underwriting, capacity & technology solutions — selling expense of $2.14M in Q1 2026.
How has The Baldwin Insurance Group, Inc.'s underwriting, capacity & technology solutions — selling expense changed year-over-year?
The Baldwin Insurance Group, Inc.'s underwriting, capacity & technology solutions — selling expense increased by 37.6% year-over-year, from $1.55M to $2.14M.
What is the long-term trend for The Baldwin Insurance Group, Inc.'s underwriting, capacity & technology solutions — selling expense?
Over 3 years (2022 to 2025), The Baldwin Insurance Group, Inc.'s underwriting, capacity & technology solutions — selling expense has grown at a 29.0% compound annual growth rate (CAGR), from $2.98M to $6.38M.
What does underwriting, capacity & technology solutions — selling expense mean?
Costs directly attributable to the marketing, business development, and sales efforts within the Underwriting, Capacity & Technology Solutions segment. Monitoring this helps assess the efficiency of the segment's customer acquisition strategy.

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