# The Baldwin Insurance Group, Inc. (BWIN) · Edgar & Edgarette company card

> The Baldwin Insurance Group (BWIN) grew revenue 8.3% in FY2025 to $1.5 billion, operating margin 4.9% against a 15.5% median for insurance agents, brokers & service, equity 15.5% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1781755 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/BWIN) · [JSON](https://www.pops4.com/boards/company/BWIN.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $1.5B |
| Revenue growth, 1 year | 8.3% |
| Revenue growth per year | 27.6% |
| Operating margin | 4.9% (prior year 4.4%) |
| Net margin | -3.6% |
| Operating cash flow | −$29M |
| Capital spending | $40M |
| Free cash flow | −$69M |
| Cash | $124M |
| Long-term debt | — |
| Total assets | $3.9B |
| Total equity | $600M |
| Equity ÷ assets | 15.5% |
| Return on equity | -9.0% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Piotroski F: 3 of 9 (middling)
- Health Harbor boat: Sound ship · one warning sign · operating cash flow was negative
- Cash Compass: Fast, cash not yet · growing fast, but little cash arriving so far

## Edgarette's reading

Exposure: revenue $1.5B (FY2025). Experience: revenue up 8.3% on the year, up 27.6% a year over 4 years; operating margin 4.9%, up from 4.4%. Soundness: equity 15.5% of assets, return on equity -9.0%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $1.3B and $2.1B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $1.1B to $2.5B. A statistical range, not company guidance. Against peers (16 filers, $50M+ revenue, insurance agents, brokers & service): operating margin 4.9% against a 15.5% median; growth 8.3% against 15.8%.

Range logged 2026-09-24, receipt e3710f20602dfb8e, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 3, latest 2026-09-21 ([filing](https://www.sec.gov/Archives/edgar/data/1781755/000178175526000053/0001781755-26-000053-index.htm))

## Recent filings

- 8-K · filed 2026-10-27 · 2.02 Results of Operations and Financial Condition; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1781755/000178175526000062/0001781755-26-000062-index.htm)
- 8-K · filed 2026-10-09 · 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1781755/000178175526000058/0001781755-26-000058-index.htm)
- 8-K · filed 2026-09-21 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/1781755/000178175526000053/0001781755-26-000053-index.htm)
- 8-K · filed 2026-09-14 · 1.01 Entry into a Material Definitive Agreement; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1781755/000095010326013874/0000950103-26-013874-index.htm)
- 10-Q · filed 2026-07-30 · [filing](https://www.sec.gov/Archives/edgar/data/1781755/000178175526000049/0001781755-26-000049-index.htm)
- 8-K · filed 2026-07-30 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1781755/000178175526000047/0001781755-26-000047-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001781755.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1781755

## Cite

POPS4, Edgar & Edgarette: The Baldwin Insurance Group, Inc. (BWIN) company card, from the company's own SEC filings, accessed 2026-11-06, https://www.pops4.com/boards/company/BWIN. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.