Baldwin Insurance (BWIN)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from BWIN's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Baldwin Insurance's 10-K filings. Ten years of the full income statement, balance sheet and cash flow.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $567M | $981M | $1.2B | $1.4B | $1.5B |
| Net income | -$31M | -$42M | -$90M | -$25M | -$34M |
| Free cash flow | $35M | -$24M | -$21M | $10M | -$69M |
| EPS (diluted) | -$0.64 | -$0.74 | -$1.50 | -$0.39 | -$0.50 |
| Operating margin | -5.6% | -3.2% | -3.5% | 4.4% | 4.9% |
Where the revenue comes from
Revenue by segments, fiscal 2025. Every breakdown, year by year.
Superinvestors who own BWIN
From each investor's latest 13F filing (what a 13F shows). 2 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Ron Baron Baron Capital (BAMCO) |
Added | $72M | 0.11% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Trimmed | $2M | 0.00% | Q2 2026 |
Insider buying
Open-market purchases by Baldwin Insurance's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you. Every purchase since records began.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Mar 3, 2026 | Paul Eugene Sparks |
15,200 | $22.10 | $335,920 |
| Mar 2, 2026 | Paul Eugene Sparks |
29,000 | $22.96 | $665,840 |
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In the full deep dive
Questions
Are Baldwin Insurance insiders buying the stock?
2 open-market insider purchases of BWIN in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Baldwin Insurance?
2 of the superinvestors Investingly tracks hold BWIN in their latest 13F, including Ron Baron, Cliff Asness.
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Prices and ratios as of Oct 11, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.