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BALDWIN INSURANCE GROUP INC/ (BWIN) Stock Fundamental Analysis

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

40.27  -0.96 (-2.33%)

After market: 40.27 0 (0%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to BWIN. BWIN was compared to 143 industry peers in the Insurance industry. BWIN may be in some trouble as it scores bad on both profitability and health. BWIN is valued quite expensive, but it does show an excellent growth.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

BWIN had positive earnings in the past year.
BWIN had a positive operating cash flow in the past year.
BWIN had negative earnings in each of the past 5 years.
In multiple years BWIN reported negative operating cash flow during the last 5 years.
BWIN Yearly Net Income VS EBIT VS OCF VS FCFBWIN Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2021 2022 2023 2024 0 50M -50M 100M

1.2 Ratios

The Return On Assets of BWIN (-0.91%) is worse than 84.62% of its industry peers.
BWIN has a worse Return On Equity (-5.19%) than 87.41% of its industry peers.
Looking at the Return On Invested Capital, with a value of 2.49%, BWIN is in line with its industry, outperforming 51.75% of the companies in the same industry.
Industry RankSector Rank
ROA -0.91%
ROE -5.19%
ROIC 2.49%
ROA(3y)-1.49%
ROA(5y)N/A
ROE(3y)-9.05%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
BWIN Yearly ROA, ROE, ROICBWIN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2021 2022 2023 2024 0 -5 -10 -15

1.3 Margins

The Operating Margin of BWIN (5.79%) is worse than 70.63% of its industry peers.
BWIN has a Gross Margin of 27.30%. This is amongst the best in the industry. BWIN outperforms 88.11% of its industry peers.
In the last couple of years the Gross Margin of BWIN has declined.
Industry RankSector Rank
OM 5.79%
PM (TTM) N/A
GM 27.3%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-4.47%
GM growth 5YN/A
BWIN Yearly Profit, Operating, Gross MarginsBWIN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2021 2022 2023 2024 0 10 20

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3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BWIN is destroying value.
Compared to 1 year ago, BWIN has more shares outstanding
The debt/assets ratio for BWIN is higher compared to a year ago.
BWIN Yearly Shares OutstandingBWIN Yearly Shares OutstandingYearly Shares Outstanding 2021 2022 2023 2024 20M 40M 60M 80M 100M
BWIN Yearly Total Debt VS Total AssetsBWIN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2021 2022 2023 2024 1B 2B 3B

2.2 Solvency

BWIN has an Altman-Z score of 1.44. This is a bad value and indicates that BWIN is not financially healthy and even has some risk of bankruptcy.
BWIN has a better Altman-Z score (1.44) than 83.92% of its industry peers.
A Debt/Equity ratio of 2.41 is on the high side and indicates that BWIN has dependencies on debt financing.
BWIN's Debt to Equity ratio of 2.41 is on the low side compared to the rest of the industry. BWIN is outperformed by 90.91% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.41
Debt/FCF N/A
Altman-Z 1.44
ROIC/WACC0.29
WACC8.47%
BWIN Yearly LT Debt VS Equity VS FCFBWIN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2021 2022 2023 2024 0 500M 1B

2.3 Liquidity

A Current Ratio of 1.13 indicates that BWIN should not have too much problems paying its short term obligations.
With an excellent Current ratio value of 1.13, BWIN belongs to the best of the industry, outperforming 81.82% of the companies in the same industry.
A Quick Ratio of 1.13 indicates that BWIN should not have too much problems paying its short term obligations.
BWIN has a better Quick ratio (1.13) than 81.82% of its industry peers.
Industry RankSector Rank
Current Ratio 1.13
Quick Ratio 1.13
BWIN Yearly Current Assets VS Current LiabilitesBWIN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2021 2022 2023 2024 200M 400M 600M 800M 1B

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8

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 26.19% over the past year.
Measured over the past years, BWIN shows a very strong growth in Earnings Per Share. The EPS has been growing by 23.83% on average per year.
Looking at the last year, BWIN shows a quite strong growth in Revenue. The Revenue has grown by 13.99% in the last year.
The Revenue has been growing by 34.78% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)26.19%
EPS 3Y23.83%
EPS 5YN/A
EPS Q2Q%16.07%
Revenue 1Y (TTM)13.99%
Revenue growth 3Y34.78%
Revenue growth 5YN/A
Sales Q2Q%8.69%

3.2 Future

The Earnings Per Share is expected to grow by 23.85% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 14.05% on average over the next years. This is quite good.
EPS Next Y21.21%
EPS Next 2Y23.85%
EPS Next 3Y23.85%
EPS Next 5YN/A
Revenue Next Year10.99%
Revenue Next 2Y12.51%
Revenue Next 3Y13.68%
Revenue Next 5Y14.05%

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.
The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
BWIN Yearly Revenue VS EstimatesBWIN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 500M 1B 1.5B 2B 2.5B
BWIN Yearly EPS VS EstimatesBWIN Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5 2 2.5

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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 25.33, which means the current valuation is very expensive for BWIN.
72.03% of the companies in the same industry are cheaper than BWIN, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 27.35. BWIN is around the same levels.
BWIN is valuated rather expensively with a Price/Forward Earnings ratio of 17.50.
67.13% of the companies in the same industry are cheaper than BWIN, based on the Price/Forward Earnings ratio.
BWIN is valuated cheaply when we compare the Price/Forward Earnings ratio to 37.54, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 25.33
Fwd PE 17.5
BWIN Price Earnings VS Forward Price EarningsBWIN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

BWIN's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. BWIN is more expensive than 68.53% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 32.65
BWIN Per share dataBWIN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 -5 10 -10

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
BWIN's earnings are expected to grow with 23.85% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.19
PEG (5Y)N/A
EPS Next 2Y23.85%
EPS Next 3Y23.85%

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0

5. Dividend

5.1 Amount

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

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BALDWIN INSURANCE GROUP INC/

NASDAQ:BWIN (7/24/2025, 8:26:00 PM)

After market: 40.27 0 (0%)

40.27

-0.96 (-2.33%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)05-06 2025-05-06/amc
Earnings (Next)08-05 2025-08-05/amc
Inst Owners104.16%
Inst Owner ChangeN/A
Ins Owners0.99%
Ins Owner Change-3.64%
Market Cap4.77B
Analysts78.75
Price Target48.81 (21.21%)
Short Float %8.54%
Short Ratio8.74
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1.46%
Min EPS beat(2)-1.11%
Max EPS beat(2)4.03%
EPS beat(4)2
Avg EPS beat(4)-0.26%
Min EPS beat(4)-5.25%
Max EPS beat(4)4.03%
EPS beat(8)5
Avg EPS beat(8)3.39%
EPS beat(12)8
Avg EPS beat(12)3.5%
EPS beat(16)10
Avg EPS beat(16)5.73%
Revenue beat(2)0
Avg Revenue beat(2)-2.01%
Min Revenue beat(2)-3.04%
Max Revenue beat(2)-0.97%
Revenue beat(4)0
Avg Revenue beat(4)-2.21%
Min Revenue beat(4)-4.36%
Max Revenue beat(4)-0.45%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)2.45%
PT rev (3m)-2.9%
EPS NQ rev (1m)-0.83%
EPS NQ rev (3m)-3.3%
EPS NY rev (1m)-0.21%
EPS NY rev (3m)-1.49%
Revenue NQ rev (1m)-0.27%
Revenue NQ rev (3m)-1.37%
Revenue NY rev (1m)0.06%
Revenue NY rev (3m)-0.25%
Valuation
Industry RankSector Rank
PE 25.33
Fwd PE 17.5
P/S 3.36
P/FCF N/A
P/OCF 135.31
P/B 7.7
P/tB N/A
EV/EBITDA 32.65
EPS(TTM)1.59
EY3.95%
EPS(NY)2.3
Fwd EY5.71%
FCF(TTM)-0.06
FCFYN/A
OCF(TTM)0.3
OCFY0.74%
SpS12
BVpS5.23
TBVpS-14.6
PEG (NY)1.19
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.91%
ROE -5.19%
ROCE 3.15%
ROIC 2.49%
ROICexc 2.57%
ROICexgc 35.47%
OM 5.79%
PM (TTM) N/A
GM 27.3%
FCFM N/A
ROA(3y)-1.49%
ROA(5y)N/A
ROE(3y)-9.05%
ROE(5y)N/A
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-4.47%
GM growth 5YN/A
F-Score6
Asset Turnover0.4
Health
Industry RankSector Rank
Debt/Equity 2.41
Debt/FCF N/A
Debt/EBITDA 7.74
Cap/Depr 38.4%
Cap/Sales 2.99%
Interest Coverage 0.85
Cash Conversion 18.25%
Profit Quality N/A
Current Ratio 1.13
Quick Ratio 1.13
Altman-Z 1.44
F-Score6
WACC8.47%
ROIC/WACC0.29
Cap/Depr(3y)30.38%
Cap/Depr(5y)N/A
Cap/Sales(3y)2.5%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)26.19%
EPS 3Y23.83%
EPS 5YN/A
EPS Q2Q%16.07%
EPS Next Y21.21%
EPS Next 2Y23.85%
EPS Next 3Y23.85%
EPS Next 5YN/A
Revenue 1Y (TTM)13.99%
Revenue growth 3Y34.78%
Revenue growth 5YN/A
Sales Q2Q%8.69%
Revenue Next Year10.99%
Revenue Next 2Y12.51%
Revenue Next 3Y13.68%
Revenue Next 5Y14.05%
EBIT growth 1Y242.53%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year146.77%
EBIT Next 3Y51.88%
EBIT Next 5Y36.26%
FCF growth 1Y187.63%
FCF growth 3Y24.41%
FCF growth 5YN/A
OCF growth 1Y128.81%
OCF growth 3Y36.54%
OCF growth 5YN/A