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Segments

By segment

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Corporate Segment and Other Operating Segment-$57.51M-5.5%
Insurance Advisory Solutions$47.09M
Mainstreet Insurance Solutions Segment$10.82M-27.5%
Underwriting, Capacity & Technology Solutions$10.82M-16.4%

Other financials

Income statement

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Revenue$532.2M+28.7%
Operating income-$101.3M-281%
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:NetIncomeLoss.

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, except per share data)For the Three Months Ended March 31, 20262025
Less: income tax benefit(144,521)
Net income (loss)(1,896)24,898
Less: net income (loss) attributable to noncontrolling interests(4,237)10,959
Net income attributable to Baldwin$2,341$13,939
Basic earnings per share$0.02$0.21
Diluted earnings per share$0.02$0.20
Weighted-average shares of Class A common stock outstanding - basic93,79866,067
Weighted-average shares of Class A common stock outstanding - diluted96,82869,328

Item 1. Financial Statements (Unaudited)

FAQ

What is The Baldwin Insurance Group, Inc.'s net income?
The Baldwin Insurance Group, Inc. (BWIN) reported net income of $2.34M in Q1 2026.
How has The Baldwin Insurance Group, Inc.'s net income changed year-over-year?
The Baldwin Insurance Group, Inc.'s net income decreased by 83.2% year-over-year, from $13.94M to $2.34M.
What is the long-term trend for The Baldwin Insurance Group, Inc.'s net income?
Over 4 years (2021 to 2025), The Baldwin Insurance Group, Inc.'s net income has grown at a 2.5% compound annual growth rate (CAGR), from -$30.65M to -$33.81M.
What does net income mean?
The bottom line — total revenue minus all expenses, taxes, and costs. Represents the profit attributable to the company's shareholders after all obligations are met.

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