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BALDWIN INSURANCE GROUP INC/ (BRP) Stock Fundamental Analysis

NASDAQ:BRP - Nasdaq - US05589G1022 - Common Stock - Currency: USD

32.66  +0.15 (+0.46%)

After market: 32.66 0 (0%)

Fundamental Rating

3

BRP gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 143 industry peers in the Insurance industry. Both the profitability and financial health of BRP have multiple concerns. BRP shows excellent growth, but is valued quite expensive already.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year BRP was profitable.
BRP had a positive operating cash flow in the past year.
In the past 5 years BRP always reported negative net income.
BRP had a positive operating cash flow in 4 of the past 5 years.
BRP Yearly Net Income VS EBIT VS OCF VS FCFBRP Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 0 20M -20M 40M -40M -60M -80M

1.2 Ratios

BRP has a worse Return On Assets (-1.55%) than 84.17% of its industry peers.
Looking at the Return On Equity, with a value of -9.10%, BRP is doing worse than 79.86% of the companies in the same industry.
Industry RankSector Rank
ROA -1.55%
ROE -9.1%
ROIC N/A
ROA(3y)-1.62%
ROA(5y)-1.61%
ROE(3y)-9.33%
ROE(5y)-8.83%
ROIC(3y)N/A
ROIC(5y)N/A
BRP Yearly ROA, ROE, ROICBRP Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 0 10 -10

1.3 Margins

BRP has a better Gross Margin (25.70%) than 89.21% of its industry peers.
BRP's Gross Margin has declined in the last couple of years.
BRP does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 25.7%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-3.12%
GM growth 5Y-6.51%
BRP Yearly Profit, Operating, Gross MarginsBRP Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 0 10 20 30

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2

2. Health

2.1 Basic Checks

BRP does not have a ROIC to compare to the WACC, probably because it is not profitable.
BRP has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, BRP has more shares outstanding
The debt/assets ratio for BRP has been reduced compared to a year ago.
BRP Yearly Shares OutstandingBRP Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M 100M
BRP Yearly Total Debt VS Total AssetsBRP Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B

2.2 Solvency

BRP has an Altman-Z score of 1.04. This is a bad value and indicates that BRP is not financially healthy and even has some risk of bankruptcy.
With an excellent Altman-Z score value of 1.04, BRP belongs to the best of the industry, outperforming 80.58% of the companies in the same industry.
BRP has a debt to FCF ratio of 37.54. This is a negative value and a sign of low solvency as BRP would need 37.54 years to pay back of all of its debts.
BRP has a worse Debt to FCF ratio (37.54) than 77.70% of its industry peers.
BRP has a Debt/Equity ratio of 2.18. This is a high value indicating a heavy dependency on external financing.
BRP has a Debt to Equity ratio of 2.18. This is amonst the worse of the industry: BRP underperforms 94.24% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.18
Debt/FCF 37.54
Altman-Z 1.04
ROIC/WACCN/A
WACC8.39%
BRP Yearly LT Debt VS Equity VS FCFBRP Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 0 200M 400M 600M 800M 1B

2.3 Liquidity

A Current Ratio of 0.90 indicates that BRP may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.90, BRP is in the better half of the industry, outperforming 78.42% of the companies in the same industry.
A Quick Ratio of 0.90 indicates that BRP may have some problems paying its short term obligations.
BRP has a better Quick ratio (0.90) than 78.42% of its industry peers.
Industry RankSector Rank
Current Ratio 0.9
Quick Ratio 0.9
BRP Yearly Current Assets VS Current LiabilitesBRP Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

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8

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 32.63% over the past year.
Measured over the past years, BRP shows a very strong growth in Earnings Per Share. The EPS has been growing by 34.53% on average per year.
BRP shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 18.74%.
The Revenue has been growing by 72.45% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)32.63%
EPS 3Y34.53%
EPS 5YN/A
EPS Q2Q%33.33%
Revenue 1Y (TTM)18.74%
Revenue growth 3Y71.66%
Revenue growth 5Y72.45%
Sales Q2Q%-64.24%

3.2 Future

Based on estimates for the next years, BRP will show a very strong growth in Earnings Per Share. The EPS will grow by 34.54% on average per year.
Based on estimates for the next years, BRP will show a quite strong growth in Revenue. The Revenue will grow by 13.02% on average per year.
EPS Next Y41.48%
EPS Next 2Y35.98%
EPS Next 3Y34.54%
EPS Next 5YN/A
Revenue Next Year14.18%
Revenue Next 2Y13.87%
Revenue Next 3Y14.98%
Revenue Next 5Y13.02%

3.3 Evolution

The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
BRP Yearly Revenue VS EstimatesBRP Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B 2B
BRP Yearly EPS VS EstimatesBRP Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2 2.5

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3

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 25.92, the valuation of BRP can be described as expensive.
Based on the Price/Earnings ratio, BRP is valued a bit more expensive than the industry average as 66.91% of the companies are valued more cheaply.
When comparing the Price/Earnings ratio of BRP to the average of the S&P500 Index (26.48), we can say BRP is valued inline with the index average.
The Price/Forward Earnings ratio is 15.77, which indicates a correct valuation of BRP.
Based on the Price/Forward Earnings ratio, BRP is valued a bit more expensive than the industry average as 64.03% of the companies are valued more cheaply.
The average S&P500 Price/Forward Earnings ratio is at 34.04. BRP is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 25.92
Fwd PE 15.77
BRP Price Earnings VS Forward Price EarningsBRP Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

66.19% of the companies in the same industry are cheaper than BRP, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of BRP indicates a slightly more expensive valuation: BRP is more expensive than 76.98% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 109.92
EV/EBITDA 57.53
BRP Per share dataBRP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 -5 10 -10 -15

4.3 Compensation for Growth

BRP's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
BRP's earnings are expected to grow with 34.54% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.62
PEG (5Y)N/A
EPS Next 2Y35.98%
EPS Next 3Y34.54%

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0

5. Dividend

5.1 Amount

No dividends for BRP!.
Industry RankSector Rank
Dividend Yield N/A

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BALDWIN INSURANCE GROUP INC/

NASDAQ:BRP (5/17/2024, 8:00:02 PM)

After market: 32.66 0 (0%)

32.66

+0.15 (+0.46%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)05-07 2024-05-07/amc
Earnings (Next)08-07 2024-08-07/amc
Inst Owners54.39%
Inst Owner Change-1.12%
Ins Owners13.77%
Ins Owner Change0%
Market Cap3.84B
Analysts76.92
Price Target36.55 (11.91%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)14.06%
Min EPS beat(2)6.06%
Max EPS beat(2)22.06%
EPS beat(4)3
Avg EPS beat(4)8.1%
Min EPS beat(4)-0.44%
Max EPS beat(4)22.06%
EPS beat(8)6
Avg EPS beat(8)6.42%
EPS beat(12)8
Avg EPS beat(12)8.79%
EPS beat(16)11
Avg EPS beat(16)7.48%
Revenue beat(2)1
Avg Revenue beat(2)-34.24%
Min Revenue beat(2)-68.86%
Max Revenue beat(2)0.38%
Revenue beat(4)2
Avg Revenue beat(4)-16.86%
Min Revenue beat(4)-68.86%
Max Revenue beat(4)1.82%
Revenue beat(8)6
Avg Revenue beat(8)-5.36%
Revenue beat(12)10
Avg Revenue beat(12)-0.96%
Revenue beat(16)12
Avg Revenue beat(16)-0.47%
PT rev (1m)2.38%
PT rev (3m)18.88%
EPS NQ rev (1m)-3.18%
EPS NQ rev (3m)-6.81%
EPS NY rev (1m)1.48%
EPS NY rev (3m)-0.82%
Revenue NQ rev (1m)0.1%
Revenue NQ rev (3m)-1.25%
Revenue NY rev (1m)0.21%
Revenue NY rev (3m)-0.43%
Valuation
Industry RankSector Rank
PE 25.92
Fwd PE 15.77
P/S 3.03
P/FCF 109.92
P/OCF 62.36
P/B 6.42
P/tB N/A
EV/EBITDA 57.53
EPS(TTM)1.26
EY3.86%
EPS(NY)2.07
Fwd EY6.34%
FCF(TTM)0.3
FCFY0.91%
OCF(TTM)0.52
OCFY1.6%
SpS10.79
BVpS5.09
TBVpS-15.44
PEG (NY)0.62
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -1.55%
ROE -9.1%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 25.7%
FCFM 2.75%
ROA(3y)-1.62%
ROA(5y)-1.61%
ROE(3y)-9.33%
ROE(5y)-8.83%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-3.12%
GM growth 5Y-6.51%
F-Score6
Asset Turnover0.36
Health
Industry RankSector Rank
Debt/Equity 2.18
Debt/FCF 37.54
Debt/EBITDA 14.86
Cap/Depr 26.79%
Cap/Sales 2.1%
Interest Coverage N/A
Cash Conversion 70.31%
Profit Quality N/A
Current Ratio 0.9
Quick Ratio 0.9
Altman-Z 1.04
F-Score6
WACC8.39%
ROIC/WACCN/A
Cap/Depr(3y)23.26%
Cap/Depr(5y)25.76%
Cap/Sales(3y)2.01%
Cap/Sales(5y)2.16%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)32.63%
EPS 3Y34.53%
EPS 5YN/A
EPS Q2Q%33.33%
EPS Next Y41.48%
EPS Next 2Y35.98%
EPS Next 3Y34.54%
EPS Next 5YN/A
Revenue 1Y (TTM)18.74%
Revenue growth 3Y71.66%
Revenue growth 5Y72.45%
Sales Q2Q%-64.24%
Revenue Next Year14.18%
Revenue Next 2Y13.87%
Revenue Next 3Y14.98%
Revenue Next 5Y13.02%
EBIT growth 1Y81.74%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year500.27%
EBIT Next 3Y110.27%
EBIT Next 5Y72.93%
FCF growth 1Y49.33%
FCF growth 3Y-10.5%
FCF growth 5Y37.14%
OCF growth 1Y84.28%
OCF growth 3Y6.63%
OCF growth 5Y30.51%