The Baldwin Insurance Group, Inc. (BWIN)

BWIN Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Investment Income	11.2	11.92	6.73	-	-
Total Other Revenues	1,494	1,377	1,212	980.72	567.29
Revenue	1,505	1,389	1,219	980.72	567.29
Revenue Growth (YoY)	8.34%	13.99%	24.25%	72.88%	135.47%
Other Operating Expenses	1,431	1,328	1,261	1,012	598.92
Operating Income	73.94	60.65	-42.55	-31.1	-31.63
Other Non-Operating Income (Expense)	-126.36	-100	-120.18	-44.94	-26.48
Total Non-Operating Income (Expense)	-126.73	-100	-120.18	-44.94	-26.48
Pretax Income	-52.43	-39.35	-162.73	-76.03	-58.1
Provision for Income Taxes	1.73	1.73	1.29	0.72	0.02
Net Income	-74.5	-57.64	-237.9	-111.72	-85.59
Minority Interest in Earnings	20.34	16.56	73.88	34.98	27.47
Net Income to Common	-74.5	-57.64	-237.9	-111.72	-85.59
Shares Outstanding (Basic)	68	63	60	151	134
Shares Outstanding (Diluted)	68	63	60	151	134
Shares Change (YoY)	7.07%	5.52%	-60.17%	12.89%	83.47%
EPS (Basic)	-0.50	-0.39	-1.50	-0.74	-0.64
EPS (Diluted)	-0.50	-0.39	-1.50	-0.74	-0.64
Shares Outstanding	71.78	67.98	64.13	61.45	58.6
Free Cash Flow	-80.17	9.92	-15.24	-24.44	34.81
Free Cash Flow Growth	-	-	-	-	11.04%
Free Cash Flow Per Share	-1.18	0.16	-0.25	-0.16	0.26
Operating Margin	4.91%	4.37%	-3.49%	-3.17%	-5.57%
Profit Margin	-3.60%	-2.96%	-13.46%	-7.83%	-10.25%
FCF Margin	-5.33%	0.71%	-1.25%	-2.49%	6.14%
EBITDA	201.77	169.57	55.85	55.26	19.88
EBITDA Margin	13.41%	12.21%	4.58%	5.63%	3.50%
EBIT	73.94	60.65	-42.55	-31.1	-31.63
EBIT Margin	4.91%	4.37%	-3.49%	-3.17%	-5.57%
Effective Tax Rate	-3.30%	-4.40%	-0.79%	-0.94%	-0.03%

Updated Feb 26, 2026. Data Source: Fiscal.ai. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q