The Baldwin Insurance Group, Inc.

EDGAR

Annual consolidated revenue for 2025: about USD 1.505B, using the latest reported figures. The previous period, 2024, was about USD 1.389B.

Watchlist

Latest quarter

Revenue

493 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating margin

-1.69%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: -8343000 USD Source
  • Revenue: 492939000 USD Source

Operating cash flow

45.6 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 39486000 USD Source
  • Operating Cash Flow: -6073000 USD Source
Cash and cash equivalents
184 million USD Source
Exact value

184499000 USD

Long-term debt including current maturities
399 million USD Source
Exact value

399000000 USD

Shares outstanding
Not available

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

1.74 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Revenue: 365389000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 1504884000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 1157605000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 532235000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 492939000 USD · 2026-04-01 – 2026-06-30 Source

Net income

-81.2 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Net income: -18727000 USD · 2025-07-01 – 2025-09-30 Source
  • Net income: -33813000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: -7952000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 2341000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: -38995000 USD · 2026-04-01 – 2026-06-30 Source

Operating cash flow

90.8 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: -39687000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: -80704000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: -29418000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: -39687000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: -6073000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 39486000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: -6073000 USD · 2026-01-01 – 2026-03-31 Source

Capital expenditure

31.5 million USD

2023-07-01 – 2024-06-30

Exact inputs and evidence
  • Capital expenditure: 14157000 USD · 2023-01-01 – 2023-09-30 Source
  • Capital expenditure: 8624000 USD · 2023-01-01 – 2023-06-30 Source
  • Capital expenditure: 21376000 USD · 2023-01-01 – 2023-12-31 Source
  • Capital expenditure: 14157000 USD · 2023-01-01 – 2023-09-30 Source
  • Capital expenditure: 8146000 USD · 2024-01-01 – 2024-03-31 Source
  • Capital expenditure: 18704000 USD · 2024-01-01 – 2024-06-30 Source
  • Capital expenditure: 8146000 USD · 2024-01-01 – 2024-03-31 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-27.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 5 of 11 periods available· newest 2025-12-31
  • Operating income: 8 of 11 periods available· newest 2025-12-31
  • Net income: 8 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 8 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 6 of 11 periods available· newest 2023-12-31
  • Total assets: 5 of 11 periods available· newest 2025-12-31
  • Total liabilities: 5 of 11 periods available· newest 2025-12-31
  • Current assets: 5 of 11 periods available· newest 2025-12-31
  • Current liabilities: 5 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 5 of 11 periods available· newest 2025-12-31
  • long term debt: No compatible figures in this window
  • shares outstanding: No compatible figures in this window

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +8.3%

    Prior period

    USD 1.39 billion

    –

    Current period

    USD 1.5 billion

    –

    Exact inputs and evidence

    1504884000 − 1389037000 = 115847000 USD

    1389037000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1504884000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Net income

    −USD 9.3 million

    Prior period

    −USD 24.52 million

    –

    Current period

    −USD 33.81 million

    –

    Exact inputs and evidence

    -33813000 − -24518000 = -9295000 USD

    -24518000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -33813000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Operating cash flow

    -157.2%

    Prior period

    USD 51.45 million

    –

    Current period

    −USD 29.42 million

    –

    Exact inputs and evidence

    -29418000 − 51453000 = -80871000 USD

    51453000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -29418000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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Comparable inputs unavailable for: Capital expenditure.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 1.5 billion 100% of revenue
  • Operating costs Derived USD 1.43 billion 95% of revenue
  • Operating income USD 73.94 million 4.9% of revenue
  • Tax, interest and other Derived USD 107.75 million 7.2% of revenue
  • Net income −USD 33.81 million −2.2% of revenue

Cash

  • Operating cash flow −USD 29.42 million −2% of revenue
  • Capital expenditure Unavailable An input is unavailable.
  • Free cash flow Derived Unavailable An input is unavailable.

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2021 Operating loss: operating costs were 106% of revenue.
  • 2022 Operating loss: operating costs were 103% of revenue.
  • 2023 Operating loss: operating costs were 103% of revenue.
  • 2024 Net loss: net income was −1.8% of revenue.
  • 2025 Net loss: net income was −2.2% of revenue.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2021 2021-01-01 – 2021-12-31567290000 598916000 Derived -31626000 -980000 Derived -30646000 34808000 Derived
Source
2022 2022-01-01 – 2022-12-31980720000 1011818000 Derived -31098000 10674000 Derived -41772000 -24441000 Derived
Source
2023 2023-01-01 – 2023-12-311218555000 1261106000 Derived -42551000 47590000 Derived -90141000 -21330000 Derived
Source
2024 2024-01-01 – 2024-12-311389037000 1328389000 Derived 60648000 85166000 Derived -24518000 Unavailable
Source
2025 2025-01-01 – 2025-12-311504884000 1430948000 Derived 73936000 107749000 Derived -33813000 Unavailable
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 1.5B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.6B1.2B812.6M406.3M0.020212022202320242025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2021Revenue567290000
2022Revenue980720000
2023Revenue1218555000
2024Revenue1389037000
2025Revenue1504884000

Revenue growth

Change in revenue from the same financial period one year earlier.

8.3% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.79%59%39%20%0%20212022202320242025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2021Year over yearNo prior comparable period
2022Year over year72.9%
2023Year over year24.3%
2024Year over year14%
2025Year over year8.3%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 4.9% 2025
Net margin -2.2% 2025
Free cash flow margin -1.8% 2023
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.7.2%3.3%-0.6%-4.6%-8.5%20212022202320242025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2021Operating margin-5.6%
2022Operating margin-3.2%
2023Operating margin-3.5%
2024Operating margin4.4%
2025Operating margin4.9%
2021Net margin-5.4%
2022Net margin-4.3%
2023Net margin-7.4%
2024Net margin-1.8%
2025Net margin-2.2%
2021Free cash flow margin6.1%
2022Free cash flow margin-2.5%
2023Free cash flow margin-1.8%
2024Free cash flow marginNot reported
2025Free cash flow marginNot reported

Operating cash flow

Cash generated by the company’s normal business operations.

USD -29.4M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.57.9M34.5M11.0M-12.4M-35.9M20212022202320242025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2021Operating cash flow40129000
2022Operating cash flow-2462000
2023Operating cash flow46000
2024Operating cash flow51453000
2025Operating cash flow-29418000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD -21.3M 2023
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.39.5M22.4M5.2M-12.0M-29.2M20212022202320242025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2021Free cash flow34808000
2022Free cash flow-24441000
2023Free cash flow-21330000
2024Free cash flowUnavailable
2025Free cash flowUnavailable

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

71.9% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.78%58%39%19%0%20212022202320242025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2021Liabilities / assets58.7%
2022Liabilities / assets67.1%
2023Liabilities / assets70.9%
2024Liabilities / assets71.5%
2025Liabilities / assets71.9%

Current assets to current liabilities

Current assets divided by current liabilities.

1.16× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.25×0.94×0.63×0.31×0.00×20212022202320242025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2021Current assets / current liabilities1.07×
2022Current assets / current liabilities1.1×
2023Current assets / current liabilities0.9×
2024Current assets / current liabilities0.97×
2025Current assets / current liabilities1.16×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2018 2018-01-01 – 2018-12-31
−USD 624,000
Exact value

Exact value: -624000 USD

2018-01-01 – 2018-12-31: -624000 USD Inspect Net Income Open source
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USD 11.79 million
Exact value

Exact value: 11793000 USD

2018-01-01 – 2018-12-31: 11793000 USD Inspect Operating Cash Flow Open source
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USD 525,000
Exact value

Exact value: 525000 USD

2018-01-01 – 2018-12-31: 525000 USD Inspect Capital Expenditure Open source
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USD 11.27 million
Calculation and evidence

11793000 − 525000 USD

Exact free cash flow: 11268000 USD

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2019 2019-01-01 – 2019-12-31
−USD 8.65 million
Exact value

Exact value: -8650000 USD

2019-01-01 – 2019-12-31: -8650000 USD Inspect Net Income Open source
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USD 12.01 million
Exact value

Exact value: 12014000 USD

2019-01-01 – 2019-12-31: 12014000 USD Inspect Operating Cash Flow Open source
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USD 1.72 million
Exact value

Exact value: 1718000 USD

2019-01-01 – 2019-12-31: 1718000 USD Inspect Capital Expenditure Open source
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USD 10.3 million
Calculation and evidence

12014000 − 1718000 USD

Exact free cash flow: 10296000 USD

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2020 2020-01-01 – 2020-12-31
−USD 15.7 million
Exact value

Exact value: -15696000 USD

2020-01-01 – 2020-12-31: -15696000 USD Inspect Net Income Open source
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USD 36.82 million
Exact value

Exact value: 36817000 USD

2020-01-01 – 2020-12-31: 36817000 USD Inspect Operating Cash Flow Open source
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USD 5.47 million
Exact value

Exact value: 5469000 USD

2020-01-01 – 2020-12-31: 5469000 USD Inspect Capital Expenditure Open source
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USD 31.35 million
Calculation and evidence

36817000 − 5469000 USD

Exact free cash flow: 31348000 USD

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2021 2021-01-01 – 2021-12-31
−USD 30.65 million
Exact value

Exact value: -30646000 USD

2021-01-01 – 2021-12-31: -30646000 USD Inspect Net Income Open source
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USD 40.13 million
Exact value

Exact value: 40129000 USD

2021-01-01 – 2021-12-31: 40129000 USD Inspect Operating Cash Flow Open source
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USD 5.32 million
Exact value

Exact value: 5321000 USD

2021-01-01 – 2021-12-31: 5321000 USD Inspect Capital Expenditure Open source
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USD 34.81 million
Calculation and evidence

40129000 − 5321000 USD

Exact free cash flow: 34808000 USD

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2022 2022-01-01 – 2022-12-31
−USD 41.77 million
Exact value

Exact value: -41772000 USD

2022-01-01 – 2022-12-31: -41772000 USD Inspect Net Income Open source
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−USD 2.46 million
Exact value

Exact value: -2462000 USD

2022-01-01 – 2022-12-31: -2462000 USD Inspect Operating Cash Flow Open source
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USD 21.98 million
Exact value

Exact value: 21979000 USD

2022-01-01 – 2022-12-31: 21979000 USD Inspect Capital Expenditure Open source
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−USD 24.44 million
Calculation and evidence

-2462000 − 21979000 USD

Exact free cash flow: -24441000 USD

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2023 2023-01-01 – 2023-12-31
−USD 90.14 million
Exact value

Exact value: -90141000 USD

2023-01-01 – 2023-12-31: -90141000 USD Inspect Net Income Open source
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USD 46,000
Exact value

Exact value: 46000 USD

2023-01-01 – 2023-12-31: 46000 USD Inspect Operating Cash Flow Open source
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USD 21.38 million
Exact value

Exact value: 21376000 USD

2023-01-01 – 2023-12-31: 21376000 USD Inspect Capital Expenditure Open source
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−USD 21.33 million
Calculation and evidence

46000 − 21376000 USD

Exact free cash flow: -21330000 USD

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2024 2024-01-01 – 2024-12-31
−USD 24.52 million
Exact value

Exact value: -24518000 USD

2024-01-01 – 2024-12-31: -24518000 USD Inspect Net Income Open source
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USD 51.45 million
Exact value

Exact value: 51453000 USD

2024-01-01 – 2024-12-31: 51453000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2025 2025-01-01 – 2025-12-31
−USD 33.81 million
Exact value

Exact value: -33813000 USD

2025-01-01 – 2025-12-31: -33813000 USD Inspect Net Income Open source
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−USD 29.42 million
Exact value

Exact value: -29418000 USD

2025-01-01 – 2025-12-31: -29418000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

61 filings · 4,622 latest values · 4,622 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001781755, 1781755, BRP, BWIN, edgar:1781755

Also known as BRP GROUP, INC., BRP Group, Inc., Baldwin Insurance Group, Inc., The Baldwin Insurance Group, Inc.