Baldwin Insurance Group, Inc. (BWIN) intrinsic value & 10-year financials
Baldwin Insurance Group, Inc. (BWIN) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 9 fiscal years revenue grew 42.4% a year to $1.5B, with an average return on invested capital of 0.4%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $31.91
- Market cap
- $2.2B
- Revenue (FY2025)
- $1.5B
- Revenue growth (9-yr CAGR)
- 42.4%
- ROIC (10-yr avg)
- 0.4%
- Free cash flow (FY2025)
- -$68.9M
BWIN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.5B | -$33.8M | -$0.50 | -$68.9M | 4.9% | 14.0% |
| FY2024 | $1.4B | -$24.5M | -$0.39 | $61.1M | 4.4% | 11.6% |
| FY2023 | $1.2B | -$90.1M | -$1.50 | $23.3M | -3.5% | -7.6% |
| FY2022 | $980.7M | -$41.8M | -$0.74 | -$24.4M | -3.2% | -5.5% |
| FY2021 | $567.3M | -$30.6M | -$0.64 | $34.8M | -5.6% | -5.2% |
| FY2020 | $426.2M | -$15.7M | -$0.58 | $31.3M | -5.1% | -6.6% |
| FY2019 | $152.6M | -$8.7M | — | $10.3M | -3.3% | 15.8% |
| FY2018 | $126.0M | -$624.0K | — | $11.3M | 7.6% | -13.7% |
| FY2017 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Baldwin Insurance Group, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Baldwin Insurance Group, Inc. has historically struggled to out-earn its cost of capital, averaging just 0.4% ROIC.
Baldwin Insurance Group, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Baldwin Insurance Group, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-16.61 per share.