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BWIN · NASDAQ · Insurance - Brokers

Baldwin (BWIN)

Insurance brokerage platform spanning advisory, MGA products, and embedded distribution.

$31.90

vs last close−0.05 (−0.16%)

In millions of USD, except per-share figures

In millions	Q3 FY23Sep 2023	Q4 FY23Dec 2023	Q1 FY24Mar 2024	Q2 FY24Jun 2024	Q3 FY24Sep 2024	Q4 FY24Dec 2024	Q1 FY25Mar 2025	Q2 FY25Jun 2025	Q3 FY25Sep 2025	Q4 FY25Dec 2025	Q1 FY26Mar 2026	Q2 FY26Jun 2026
Revenue	304	286	378	339	336	323	409	374	365	347	532	493
Cost of revenue	220	235	262	244	247	278	264	269	272	334	464	501
Gross profit	83	51	116	94	89	45	145	105	93	14	68	−8
	83	81	82	78	73	50	89	77	90	12	157	0
Other expenses	83	81	82	78	73	50	89	77	90	12	157	0
Operating income	0	−30	34	16	15	−5	56	28	3	2	−89	−8
	−32	−32	6	−46	−30	−30	−31	−32	−33	−44	−57	−48
Interest income	0	0	0	0	0	0	0	0	3	0	3	0
Interest expense	31	32	32	0	0	0	0	0	31	29	39	46
Other non-operating income	−14	−6	−13	−6	1	22	−8	2	−2	15	18	3
Income before tax	−32	−62	40	−29	−14	−35	25	−4	−30	−43	−146	−57
Income tax expense	0	0	1	1	0	0	0	1	0	1	−145	−1
Net income from continuing operations	−32	−62	39	−31	−14	−35	25	−5	−30	−44	−2	−56
Net income	−18	−34	22	−18	−8	−20	14	−3	−19	−26	2	−39
EPS, basic	−$0.29	−$0.56	$0.35	−$0.28	−$0.13	−$0.31	$0.21	−$0.05	−$0.27	−$0.37	$0.03	−$0.56
EPS, diluted	−$0.29	−$0.56	$0.33	−$0.28	−$0.13	−$0.31	$0.20	−$0.05	−$0.27	−$0.37	$0.03	−$0.56
Weighted average shares, basic	61	61	62	63	64	65	66	68	69	69	69	69
Weighted average shares, diluted	61	61	65	63	64	65	69	68	69	69	69	69
EBITDA	39	1	72	49	43	0	92	54	37	27	−50	48
Depreciation & amortization	25	25	26	27	28	28	27	28	32	41	57	59
EBIT	14	−24	47	22	14	−28	64	26	5	−14	−108	−11