(BWIN) The Baldwin Insurance - Overview
Stock: Commercial, Personal, Employee Benefits, Medicare, MGA Platform
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 64.0% |
| Relative Tail Risk | -3.76% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -1.28 |
| Alpha | -67.29 |
| Character TTM | |
|---|---|
| Beta | 0.894 |
| Beta Downside | 0.709 |
| Drawdowns 3y | |
|---|---|
| Max DD | 66.07% |
| CAGR/Max DD | -0.20 |
Description: BWIN The Baldwin Insurance January 12, 2026
The Baldwin Insurance Group, Inc. (NASDAQ:BWIN) is an independent U.S. insurance distribution firm that operates through three business segments: Insurance Advisory Solutions, Underwriting, Capacity & Technology Solutions, and Mainstreet Insurance Solutions.
Insurance Advisory Solutions delivers private and commercial risk-management services, employee-benefits plans, and Medicare products to businesses, high-net-worth individuals, and their families.
The Underwriting, Capacity & Technology Solutions segment runs a Managing General Agent (MGA) platform that creates technology-enabled personal, commercial, and professional insurance products, a model that has been expanding rapidly across the industry.
Mainstreet Insurance Solutions provides personal, commercial, and life-and-health policies to individuals and businesses, offers reinsurance brokerage, and administers government-assistance programs such as Medicare Advantage and ACA plans through a network of independent agents.
Key industry drivers that could affect BWIN’s outlook include the continued growth of MGA-based distribution (the MGA market has been expanding at roughly 10% YoY), rising demand for Medicare Advantage as the U.S. 65-plus population approaches 75 million, and the sensitivity of insurance broker margins to interest-rate fluctuations that influence investment income.
According to the most recent public filing (2023), the company reported revenue of approximately $215 million and a combined ratio near 92%, suggesting operational profitability but leaving room for margin improvement.
For a deeper quantitative view, you might explore ValueRay’s analyst dashboard for BWIN.
Piotroski VR‑10 (Strict, 0-10) 2.0
| Net Income: -28.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA -1.96 > 1.0 |
| NWC/Revenue: 9.95% < 20% (prev 10.88%; Δ -0.93% < -1%) |
| CFO/TA -0.01 > 3% & CFO -23.2m > Net Income -28.1m |
| Net Debt (1.63b) to EBITDA (186.7m): 8.74 < 3 |
| Current Ratio: 1.15 > 1.5 & < 3 |
| Outstanding Shares: last quarter (68.6m) vs 12m ago 7.18% < -2% |
| Gross Margin: 24.20% > 18% (prev 0.26%; Δ 2394 % > 0.5%) |
| Asset Turnover: 40.14% > 50% (prev 37.84%; Δ 2.30% > 0%) |
| Interest Coverage Ratio: 2.28 > 6 (EBITDA TTM 186.7m / Interest Expense TTM 31.3m) |
Altman Z'' 0.11
| A: 0.04 (Total Current Assets 1.11b - Total Current Liabilities 959.7m) / Total Assets 3.79b |
| B: -0.06 (Retained Earnings -219.4m / Total Assets 3.79b) |
| C: 0.02 (EBIT TTM 71.6m / Avg Total Assets 3.67b) |
| D: -0.08 (Book Value of Equity -217.6m / Total Liabilities 2.67b) |
| Altman-Z'' Score: 0.11 = B |
Beneish M -3.27
| DSRI: 0.48 (Receivables 346.5m/656.1m, Revenue 1.47b/1.34b) |
| GMI: 1.08 (GM 24.20% / 26.19%) |
| AQI: 1.07 (AQ_t 0.69 / AQ_t-1 0.64) |
| SGI: 1.10 (Revenue 1.47b / 1.34b) |
| TATA: -0.00 (NI -28.1m - CFO -23.2m) / TA 3.79b) |
| Beneish M-Score: -3.27 (Cap -4..+1) = AA |
What is the price of BWIN shares?
Over the past week, the price has changed by -10.72%, over one month by -21.50%, over three months by -24.12% and over the past year by -52.40%.
Is BWIN a buy, sell or hold?
- StrongBuy: 3
- Buy: 2
- Hold: 2
- Sell: 0
- StrongSell: 1
What are the forecasts/targets for the BWIN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 33.4 | 70.6% |
| Analysts Target Price | 33.4 | 70.6% |
| ValueRay Target Price | 14.7 | -25% |
BWIN Fundamental Data Overview February 04, 2026
P/S = 1.6448
P/B = 4.3776
Revenue TTM = 1.47b USD
EBIT TTM = 71.6m USD
EBITDA TTM = 186.7m USD
Long Term Debt = 1.63b USD (from longTermDebt, last quarter)
Short Term Debt = 27.7m USD (from shortTermDebt, last quarter)
Debt = 1.72b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.63b USD (from netDebt column, last quarter)
Enterprise Value = 4.08b USD (2.45b + Debt 1.72b - CCE 89.7m)
Interest Coverage Ratio = 2.28 (Ebit TTM 71.6m / Interest Expense TTM 31.3m)
EV/FCF = -63.17x (Enterprise Value 4.08b / FCF TTM -64.6m)
FCF Yield = -1.58% (FCF TTM -64.6m / Enterprise Value 4.08b)
FCF Margin = -4.39% (FCF TTM -64.6m / Revenue TTM 1.47b)
Net Margin = -1.91% (Net Income TTM -28.1m / Revenue TTM 1.47b)
Gross Margin = 24.20% ((Revenue TTM 1.47b - Cost of Revenue TTM 1.12b) / Revenue TTM)
Gross Margin QoQ = 16.75% (prev 28.12%)
Tobins Q-Ratio = 1.08 (Enterprise Value 4.08b / Total Assets 3.79b)
Interest Expense / Debt = 1.82% (Interest Expense 31.3m / Debt 1.72b)
Taxrate = 21.0% (US default 21%)
NOPAT = 56.5m (EBIT 71.6m * (1 - 21.00%))
Current Ratio = 1.15 (Total Current Assets 1.11b / Total Current Liabilities 959.7m)
Debt / Equity = 2.78 (Debt 1.72b / totalStockholderEquity, last quarter 619.7m)
Debt / EBITDA = 8.74 (Net Debt 1.63b / EBITDA 186.7m)
Debt / FCF = -25.28 (negative FCF - burning cash) (Net Debt 1.63b / FCF TTM -64.6m)
Total Stockholder Equity = 613.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -0.77% (Net Income -28.1m / Total Assets 3.79b)
RoE = -4.58% (Net Income TTM -28.1m / Total Stockholder Equity 613.3m)
RoCE = 3.18% (EBIT 71.6m / Capital Employed (Equity 613.3m + L.T.Debt 1.63b))
RoIC = 2.56% (NOPAT 56.5m / Invested Capital 2.21b)
WACC = 6.00% (E(2.45b)/V(4.17b) * Re(9.21%) + D(1.72b)/V(4.17b) * Rd(1.82%) * (1-Tc(0.21)))
Discount Rate = 9.21% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 5.92%
Fair Price DCF = unknown (Cash Flow -64.6m)
EPS Correlation: -16.56 | EPS CAGR: -21.39% | SUE: -1.16 | # QB: 0
Revenue Correlation: 86.25 | Revenue CAGR: 24.25% | SUE: 0.33 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.71 | Chg30d=+0.012 | Revisions Net=-1 | Analysts=8
EPS next Year (2026-12-31): EPS=2.03 | Chg30d=-0.034 | Revisions Net=-2 | Growth EPS=+22.1% | Growth Revenue=+32.8%