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BALDWIN INSURANCE GROUP INC/ (BWIN) Stock Fundamental Analysis

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

40.82  +0.24 (+0.59%)

After market: 40.82 0 (0%)

Fundamental Rating

3

BWIN 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 BWIN have multiple concerns. BWIN 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

BWIN had positive earnings in the past year.
In the past year BWIN had a positive cash flow from operations.
BWIN had negative earnings in each of the past 5 years.
The reported operating cash flow has been mixed in the past 5 years: BWIN reported negative operating cash flow in multiple 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

BWIN has a Return On Assets of -0.91%. This is amonst the worse of the industry: BWIN underperforms 84.62% of its industry peers.
With a Return On Equity value of -5.19%, BWIN is not doing good in the industry: 87.41% of the companies in the same industry are doing better.
BWIN's Return On Invested Capital of 2.49% is in line compared to the rest of the industry. BWIN outperforms 51.75% of its industry peers.
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

With a Operating Margin value of 5.79%, BWIN is not doing good in the industry: 70.63% of the companies in the same industry are doing better.
With an excellent Gross Margin value of 27.30%, BWIN belongs to the best of the industry, outperforming 88.11% of the companies in the same industry.
BWIN's Gross Margin has declined in the last couple of years.
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

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so BWIN is destroying value.
The number of shares outstanding for BWIN has been increased compared to 1 year ago.
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 1.43. 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 (1.43) than 83.92% of its industry peers.
BWIN has a Debt/Equity ratio of 2.41. This is a high value indicating a heavy dependency on external 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 1.43
ROIC/WACC0.29
WACC8.46%
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

BWIN has a Current Ratio of 1.13. This is a normal value and indicates that BWIN is financially healthy and should not expect problems in meeting its short term obligations.
BWIN has a better Current ratio (1.13) than 81.82% of its industry peers.
BWIN has a Quick Ratio of 1.13. This is a normal value and indicates that BWIN is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 1.13, BWIN belongs to the top of the industry, outperforming 81.82% of the companies in the same industry.
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.
BWIN shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 23.83% yearly.
The Revenue has grown by 13.99% in the past year. This is quite good.
Measured over the past years, BWIN shows a very strong growth in Revenue. The Revenue has been growing by 34.78% on average per year.
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

Based on estimates for the next years, BWIN will show a very strong growth in Earnings Per Share. The EPS will grow by 23.85% on average per year.
BWIN is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 14.05% yearly.
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

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
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 25.67, which means the current valuation is very expensive for BWIN.
Based on the Price/Earnings ratio, BWIN is valued a bit more expensive than the industry average as 71.33% of the companies are valued more cheaply.
When comparing the Price/Earnings ratio of BWIN to the average of the S&P500 Index (27.53), we can say BWIN is valued inline with the index average.
BWIN is valuated rather expensively with a Price/Forward Earnings ratio of 17.74.
Based on the Price/Forward Earnings ratio, BWIN is valued a bit more expensive than 67.13% of the companies in the same industry.
BWIN's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 36.71.
Industry RankSector Rank
PE 25.67
Fwd PE 17.74
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

Based on the Enterprise Value to EBITDA ratio, BWIN is valued a bit more expensive than the industry average as 68.53% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 32.25
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

BWIN's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
A more expensive valuation may be justified as BWIN's earnings are expected to grow with 23.85% in the coming years.
PEG (NY)1.21
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 (7/22/2025, 8:00:01 PM)

After market: 40.82 0 (0%)

40.82

+0.24 (+0.59%)

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 Cap4.84B
Analysts78.75
Price Target48.81 (19.57%)
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 25.67
Fwd PE 17.74
P/S 3.4
P/FCF N/A
P/OCF 137.15
P/B 7.81
P/tB N/A
EV/EBITDA 32.25
EPS(TTM)1.59
EY3.9%
EPS(NY)2.3
Fwd EY5.64%
FCF(TTM)-0.06
FCFYN/A
OCF(TTM)0.3
OCFY0.73%
SpS12
BVpS5.23
TBVpS-14.6
PEG (NY)1.21
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 1.43
F-Score6
WACC8.46%
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