The Baldwin Insurance Group (BRP) Financials

$38.00 -0.10 (-0.26%)

As of 05/23/2025

Annual Income Statements for The Baldwin Insurance Group

This table shows The Baldwin Insurance Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Net Income / (Loss) Attributable to Common Shareholders	-25	-90	-42	-31	-16	-8.65	-0.62
Consolidated Net Income / (Loss)	-41	-164	-77	-58	-30	-22	2.69
Net Income / (Loss) Continuing Operations	-41	-164	-77	-58	-30	-22	2.69
Total Pre-Tax Income	-39	-163	-76	-58	-30	-22	2.69
Total Operating Income	61	-43	-31	-32	-22	-5.07	9.53
Total Gross Profit	357	307	261	167	67	41	28
Total Revenue	1,389	1,219	981	567	241	138	80
Operating Revenue	1,389	1,219	981	567	241	138	80
Total Cost of Revenue	1,032	911	719	400	174	97	52
Operating Cost of Revenue	1,032	911	719	400	174	97	52
Total Operating Expenses	296	350	292	199	89	46	19
Selling, General & Admin Expense	192	190	174	102	48	25	14
Depreciation Expense	6.19	5.70	4.62	2.79	1.13	0.54	0.51
Amortization Expense	103	93	82	49	19	10	2.58
Other Special Charges / (Income)	-4.95	61	32	45	-	-	-
Total Other Income / (Expense), net	-100	-120	-45	-26	-7.95	-17	-6.84
Interest Expense	124	119	71	27	7.86	17	6.63
Other Income / (Expense), net	24	-0.72	26	0.42	-0.10	0.00	-0.22
Income Tax Expense	1.73	1.29	0.72	0.02	-0.01	0.02	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	-17	-74	-35	-27	-14	-14	3.31
Basic Earnings per Share	($0.39)	($1.50)	($0.74)	($0.64)	($0.58)	$0.00	$0.00
Weighted Average Basic Shares Outstanding	63.46M	60.13M	56.83M	47.59M	27.18M	0.00	0.00
Diluted Earnings per Share	($0.39)	($1.50)	($0.74)	($0.64)	($0.58)	$0.00	$0.00
Weighted Average Diluted Shares Outstanding	63.46M	60.13M	56.83M	47.59M	27.18M	0.00	0.00
Weighted Average Basic & Diluted Shares Outstanding	117.59M	116.67M	116.09M	47.59M	27.18M	0.00	0.00

This table shows The Baldwin Insurance Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	14	-20	-8.38	-18	22	-34	-18	-24	-14	-48	-25
Consolidated Net Income / (Loss)	25	-35	-14	-31	39	-62	-32	-44	-26	-91	-47
Net Income / (Loss) Continuing Operations	25	-35	-14	-31	39	-62	-32	-44	-26	-91	-47
Total Pre-Tax Income	25	-35	-14	-29	40	-62	-32	-43	-26	-91	-47
Total Operating Income	56	-5.47	15	16	34	-30	0.09	-17	3.62	-66	-30
Total Gross Profit	215	51	92	96	118	50	86	72	99	49	63
Total Revenue	413	330	339	340	380	285	306	297	330	246	259
Operating Revenue	413	330	339	340	380	285	306	297	330	246	259
Total Cost of Revenue	198	278	247	244	262	235	220	225	231	197	196
Operating Cost of Revenue	198	278	247	244	262	235	220	225	231	197	196
Total Operating Expenses	159	57	76	79	84	80	86	88	96	116	93
Selling, General & Admin Expense	58	51	49	47	46	49	47	47	47	49	47
Depreciation Expense	1.58	1.58	1.56	1.56	1.51	1.45	1.45	1.45	1.35	1.31	1.22
Amortization Expense	26	26	27	25	24	23	23	23	23	22	23
Other Operating Expenses / (Income)	66	-	-	-	-	-	-	-	-	-	-
Other Special Charges / (Income)	8.06	-22	-0.95	5.55	13	6.02	14	16	25	43	22
Total Other Income / (Expense), net	-31	-30	-30	-46	5.51	-32	-32	-26	-29	-24	-17
Interest Expense	32	29	31	31	32	32	31	29	28	25	21
Other Income / (Expense), net	1.25	-0.34	1.45	-15	37	-0.53	-1.35	2.67	-1.51	0.99	3.91
Income Tax Expense	0.00	-0.42	0.00	1.48	0.67	0.38	0.16	0.67	0.08	0.72	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	11	-15	-6.10	-13	18	-28	-14	-20	-12	-43	-22
Basic Earnings per Share	$0.21	($0.33)	($0.13)	($0.28)	$0.35	($0.57)	($0.29)	($0.40)	($0.24)	($0.87)	($0.43)
Weighted Average Basic Shares Outstanding	66.07M	63.46M	64.01M	63.12M	61.86M	60.13M	60.55M	60.09M	58.71M	56.83M	57.28M
Diluted Earnings per Share	$0.20	($0.31)	($0.13)	($0.28)	$0.33	($0.57)	($0.29)	($0.40)	($0.24)	($0.84)	($0.43)
Weighted Average Diluted Shares Outstanding	69.33M	63.46M	64.01M	63.12M	65.31M	60.13M	60.55M	60.09M	58.71M	56.83M	57.28M
Weighted Average Basic & Diluted Shares Outstanding	118.52M	117.59M	117.58M	117.64M	117.55M	116.67M	116.75M	116.78M	116.80M	116.09M	116.03M

This table details how cash moves in and out of The Baldwin Insurance Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Net Change in Cash & Equivalents	86	-3.51	2.73	86	71	63	4.87
Net Cash From Operating Activities	102	45	-2.46	40	37	12	12
Net Cash From Continuing Operating Activities	102	45	-2.46	40	37	12	12
Net Income / (Loss) Continuing Operations	-41	-164	-77	-58	-30	-22	2.69
Consolidated Net Income / (Loss)	-41	-164	-77	-58	-30	-22	2.69
Depreciation Expense	109	98	86	52	20	11	3.09
Amortization Expense	5.84	5.13	5.12	3.51	1.00	1.31	0.12
Non-Cash Adjustments To Reconcile Net Income	-27	-82	-209	-47	20	16	6.61
Changes in Operating Assets and Liabilities, net	56	187	191	91	26	6.44	-0.71
Net Cash From Investing Activities	13	-22	-414	-678	-678	-101	-43
Net Cash From Continuing Investing Activities	13	-22	-414	-678	-678	-101	-43
Purchase of Property, Plant & Equipment	-41	-21	-22	-8.53	-7.32	-2.40	-7.43
Acquisitions	-0.27	-2.12	-391	-668	-669	-98	-35
Purchase of Investments	-3.86	-1.69	-1.10	-1.91	-1.25	-0.20	0.00
Divestitures	57	3.26	0.00	-	-	-	-
Other Investing Activities, net	1.50	0.00	0.00	-	-	-	-
Net Cash From Financing Activities	-30	-26	420	724	712	152	36
Net Cash From Continuing Financing Activities	-30	-26	420	724	712	152	36
Repayment of Debt	-1,468	-289	-52	-392	-331	-155	-0.88
Payment of Dividends	-11	-0.87	-9.39	0.00	0.00	-11	-9.95
Issuance of Debt	1,546	281	512	862	672	119	49
Other Financing Activities, net	-97	-17	-31	-15	-81	-35	-2.68
Cash Interest Paid	111	105	63	22	5.96	9.49	3.37
Cash Income Taxes Paid	2.75	1.43	1.42	0.00	0.00	-	-

This table details how cash moves in and out of The Baldwin Insurance Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-14	-32	-15	126	7.35	33	-19	26	-44	-20	-33
Net Cash From Operating Activities	-64	16	2.11	81	2.89	22	-13	49	-14	14	-12
Net Cash From Continuing Operating Activities	-64	16	2.11	81	2.89	22	-13	49	-14	14	-12
Net Income / (Loss) Continuing Operations	25	-35	-14	-31	39	-62	-32	-44	-26	-91	-47
Consolidated Net Income / (Loss)	25	-35	-14	-31	39	-62	-32	-44	-26	-91	-47
Depreciation Expense	27	28	28	27	26	25	25	25	25	23	24
Amortization Expense	1.42	1.42	1.42	1.45	1.55	1.55	1.24	1.09	1.24	1.23	1.42
Non-Cash Adjustments To Reconcile Net Income	-129	12	114	-41	-112	-47	-2.05	0.75	-33	-48	-32
Changes in Operating Assets and Liabilities, net	11	9.56	-127	124	49	105	-4.45	67	19	130	40
Net Cash From Investing Activities	-8.61	-12	-9.99	-9.01	45	-4.97	-6.35	-5.50	-5.10	-6.89	-18
Net Cash From Continuing Investing Activities	-8.61	-12	-9.99	-9.01	45	-4.97	-6.35	-5.50	-5.10	-6.89	-18
Purchase of Property, Plant & Equipment	-8.93	-12	-9.93	-11	-8.15	-7.22	-3.92	-5.24	-5.00	-3.22	-6.84
Acquisitions	-0.46	-	-	-	-	-	-	-	-	-3.36	-11
Purchase of Investments	-0.62	-0.16	-0.36	-0.15	-3.19	-1.01	-0.31	-0.26	-0.10	-0.31	-0.12
Divestitures	1.40	-	0.56	1.97	54	3.26	-	-	0.00	-	-
Other Investing Activities, net	0.00	-	-	-	1.50	-	-	-	0.00	-	-
Net Cash From Financing Activities	59	-36	-7.58	54	-40	16	0.48	-18	-25	-27	-3.73
Net Cash From Continuing Financing Activities	59	-36	-7.58	54	-40	16	0.48	-18	-25	-27	-3.73
Repayment of Debt	-848	-13	-2.85	-1,372	-80	-9.11	-181	-27	-72	-24	-17
Issuance of Debt	945	11	-	1,465	70	23	198	10	50	-	17
Other Financing Activities, net	-38	-34	-4.73	-27	-30	1.88	-16	-0.43	-2.41	-3.09	-3.57
Cash Interest Paid	14	38	19	27	28	28	26	26	25	21	19
Cash Income Taxes Paid	0.03	0.03	0.54	2.02	0.15	0.22	-0.14	1.35	0.00	0.36	0.19

This table presents The Baldwin Insurance Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Total Assets	3,535	3,502	3,462	2,876	1,530	399	140
Total Current Assets	1,026	926	772	578	302	133	39
Cash & Equivalents	148	116	118	138	108	68	8.00
Restricted Cash	165	105	112	89	34	3.38	0.00
Prepaid Expenses	12	13	9.94	8.15	4.45	3.02	1.10
Other Current Assets	702	628	532	341	156	59	29
Other Current Nonoperating Assets	0.00	64	0.00	-	-	-	-
Plant, Property, & Equipment, net	22	23	25	17	11	3.32	2.15
Total Noncurrent Assets	2,486	2,553	2,664	2,280	1,217	263	99
Goodwill	1,412	1,412	1,422	1,229	652	164	66
Intangible Assets	953	1,017	1,100	944	554	92	30
Other Noncurrent Operating Assets	120	124	142	107	11	5.60	3.58
Total Liabilities & Shareholders' Equity	3,535	3,502	3,462	2,876	1,530	399	140
Total Liabilities	2,526	2,483	2,322	1,689	760	161	117
Total Current Liabilities	1,056	1,033	699	541	217	73	33
Short-Term Debt	149	217	48	97	6.09	2.48	0.83
Accounts Payable	161	145	126	92	51	12	5.25
Accrued Expenses	73	64	54	36	24	7.47	3.96
Other Current Liabilities	674	556	471	316	136	51	23
Other Current Nonoperating Liabilities	0.00	44	0.00	-	-	-	-
Total Noncurrent Liabilities	1,470	1,450	1,623	1,148	543	89	84
Long-Term Debt	1,398	1,309	1,315	850	381	40	72
Other Noncurrent Operating Liabilities	71	61	220	227	161	48	12
Commitments & Contingencies	0.00	0.00	0.00	0.00	-	-	-
Redeemable Noncontrolling Interest	0.45	0.39	0.49	0.27	0.10	0.02	86
Total Equity & Noncontrolling Interests	1,008	1,018	1,140	1,187	770	237	-63
Total Preferred & Common Equity	583	560	608	608	368	73	-64
Total Common Equity	583	560	608	608	368	73	-64
Common Stock	795	747	705	664	393	83	-64
Retained Earnings	-211	-187	-97	-55	-24	-8.65	0.00
Noncontrolling Interest	425	458	531	579	402	164	0.94

This table presents The Baldwin Insurance Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	3,549	3,539	3,680	3,510	3,423	3,465	3,448	3,412
Total Current Assets	1,056	1,014	1,137	951	802	818	780	711
Cash & Equivalents	299	182	208	112	79	106	81	159
Prepaid Expenses	17	13	14	15	12	12	13	12
Other Current Assets	739	656	763	702	595	594	580	446
Plant, Property, & Equipment, net	22	21	22	23	24	24	25	25
Total Noncurrent Assets	2,471	2,503	2,521	2,536	2,597	2,622	2,642	2,677
Goodwill	1,412	1,412	1,412	1,412	1,422	1,422	1,422	1,421
Intangible Assets	938	969	985	1,000	1,045	1,063	1,081	1,118
Other Noncurrent Operating Assets	121	122	123	123	130	138	139	138
Total Liabilities & Shareholders' Equity	3,549	3,539	3,680	3,510	3,423	3,465	3,448	3,412
Total Liabilities	2,500	2,502	2,637	2,438	2,350	2,368	2,321	2,188
Total Current Liabilities	933	1,032	1,156	1,053	798	827	773	573
Short-Term Debt	45	207	210	235	99	118	119	42
Accounts Payable	157	164	132	132	131	110	110	114
Accrued Expenses	87	71	74	86	66	65	63	61
Other Current Liabilities	643	589	741	600	502	535	481	357
Total Noncurrent Liabilities	1,567	1,471	1,481	1,385	1,551	1,541	1,548	1,615
Long-Term Debt	1,496	1,399	1,400	1,301	1,294	1,278	1,294	1,338
Capital Lease Obligations	68	69	74	78	82	85	87	89
Other Noncurrent Operating Liabilities	2.82	2.63	6.50	6.46	176	178	168	188
Redeemable Noncontrolling Interest	0.37	0.38	0.29	0.46	0.33	0.50	0.54	0.42
Total Equity & Noncontrolling Interests	1,048	1,036	1,043	1,071	1,074	1,097	1,127	1,224
Total Preferred & Common Equity	620	595	591	598	591	599	606	652
Total Common Equity	620	595	591	598	591	599	606	652
Common Stock	817	787	774	763	743	733	717	700
Retained Earnings	-197	-191	-183	-165	-152	-135	-111	-48
Noncontrolling Interest	428	441	452	473	483	498	520	572

This table displays calculated financial ratios and metrics derived from The Baldwin Insurance Group's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	13.99%	24.25%	72.88%	135.47%	74.78%	72.56%	0.00%
EBITDA Growth	230.32%	-30.35%	263.33%	2,856.02%	-112.71%	-45.73%	0.00%
EBIT Growth	294.81%	-772.18%	84.10%	-41.61%	-335.00%	-154.38%	0.00%
NOPAT Growth	242.53%	-36.83%	1.67%	-44.16%	-332.87%	-137.23%	0.00%
Net Income Growth	74.95%	-113.71%	-32.05%	-94.48%	-33.09%	-935.03%	0.00%
EPS Growth	74.00%	-102.70%	-15.63%	-10.34%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	128.81%	1,913.32%	-106.14%	9.00%	206.45%	1.87%	0.00%
Free Cash Flow Firm Growth	418.24%	85.24%	58.87%	-19.76%	-558.87%	0.00%	0.00%
Invested Capital Growth	-6.18%	1.27%	19.37%	94.73%	385.74%	137.89%	0.00%
Revenue Q/Q Growth	3.37%	3.27%	9.72%	18.74%	15.92%	0.00%	0.00%
EBITDA Q/Q Growth	16.11%	159.28%	-20.34%	-36.43%	90.34%	0.00%	0.00%
EBIT Q/Q Growth	40.81%	44.85%	-120.19%	-314.42%	17.53%	0.00%	0.00%
NOPAT Q/Q Growth	66.63%	46.31%	-1,126.75%	-320.06%	17.88%	0.00%	0.00%
Net Income Q/Q Growth	40.24%	15.01%	-158.76%	-76.91%	20.73%	0.00%	0.00%
EPS Q/Q Growth	40.00%	15.25%	-105.56%	-16.36%	-176.19%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-5.02%	20.69%	30.94%	21.28%	30.48%	-26.68%	0.00%
Free Cash Flow Firm Q/Q Growth	1,448.57%	-283.86%	63.44%	-12.45%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-5.26%	1.55%	-3.34%	47.94%	117.55%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	25.70%	25.21%	26.64%	29.48%	27.73%	29.66%	35.34%
EBITDA Margin	14.33%	4.95%	8.82%	4.20%	-0.36%	4.93%	15.68%
Operating Margin	4.37%	-3.49%	-3.17%	-5.57%	-9.11%	-3.68%	11.93%
EBIT Margin	6.07%	-3.55%	-0.51%	-5.50%	-9.15%	-3.67%	11.66%
Profit (Net Income) Margin	-2.96%	-13.46%	-7.83%	-10.25%	-12.40%	-16.29%	3.37%
Tax Burden Percent	104.40%	100.79%	100.94%	100.03%	99.98%	100.08%	100.00%
Interest Burden Percent	-46.68%	376.10%	1,532.61%	186.21%	135.66%	442.98%	28.87%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	1.83%	-1.25%	-1.00%	-1.48%	-2.51%	-2.39%	10.84%
ROIC Less NNEP Spread (ROIC-NNEP)	-4.58%	-11.61%	-6.47%	-8.43%	-15.88%	-105.02%	0.33%
Return on Net Nonoperating Assets (RNNOA)	-5.88%	-13.94%	-5.59%	-4.46%	-3.43%	-14.88%	0.95%
Return on Equity (ROE)	-4.05%	-15.19%	-6.59%	-5.94%	-5.93%	-17.27%	11.79%
Cash Return on Invested Capital (CROIC)	8.21%	-2.51%	-18.66%	-65.76%	-134.22%	-84.01%	0.00%
Operating Return on Assets (OROA)	2.40%	-1.24%	-0.16%	-1.42%	-2.28%	-1.88%	6.66%
Return on Assets (ROA)	-1.17%	-4.71%	-2.42%	-2.64%	-3.10%	-8.34%	1.92%
Return on Common Equity (ROCE)	-2.29%	-8.22%	-3.45%	-2.96%	-2.60%	-0.64%	-32.94%
Return on Equity Simple (ROE_SIMPLE)	-7.04%	-29.27%	-12.62%	-9.55%	-8.13%	-30.64%	-4.22%
Net Operating Profit after Tax (NOPAT)	42	-30	-22	-22	-15	-3.55	9.53
NOPAT Margin	3.06%	-2.44%	-2.22%	-3.90%	-6.37%	-2.57%	11.93%
Net Nonoperating Expense Percent (NNEP)	6.41%	10.36%	5.47%	6.95%	13.38%	102.63%	10.51%
Return On Investment Capital (ROIC_SIMPLE)	1.66%	-1.14%	-0.84%	-	-	-	-
Cost of Revenue to Revenue	74.30%	74.79%	73.36%	70.52%	72.27%	70.34%	64.66%
SG&A Expenses to Revenue	13.85%	15.61%	17.71%	18.01%	19.95%	17.83%	18.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	21.33%	28.70%	29.81%	35.06%	36.84%	33.34%	23.41%
Earnings before Interest and Taxes (EBIT)	84	-43	-4.96	-31	-22	-5.07	9.31
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	199	60	87	24	-0.86	6.80	13
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.49	2.76	2.54	2.82	2.21	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.89	1.27	1.57	3.03	3.38	0.00	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.91	1.42	1.40	1.56	1.44	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	3.08	2.78	3.36	5.44	6.07	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	21.49	56.21	38.10	129.66	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	50.76	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	100.78	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	41.88	75.87	0.00	76.94	39.71	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	22.51	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	1.53	1.58	1.27	0.86	0.50	0.18	3.20
Long-Term Debt to Equity	1.39	1.36	1.23	0.78	0.50	0.17	3.17
Financial Leverage	1.28	1.20	0.86	0.53	0.22	0.14	2.85
Leverage Ratio	3.47	3.23	2.72	2.25	1.91	2.07	6.13
Compound Leverage Factor	-1.62	12.13	41.74	4.19	2.60	9.17	1.77
Debt to Total Capital	60.52%	61.17%	56.00%	46.15%	33.48%	15.29%	76.21%
Short-Term Debt to Total Capital	5.81%	8.26%	1.86%	4.38%	0.53%	0.89%	0.86%
Long-Term Debt to Total Capital	54.71%	52.91%	54.14%	41.77%	32.95%	14.41%	75.35%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	16.65%	17.47%	20.53%	26.27%	34.75%	58.54%	90.23%
Common Equity to Total Capital	22.82%	21.36%	23.47%	27.59%	31.78%	26.16%	-66.44%
Debt to EBITDA	7.77	26.63	16.77	42.73	-448.47	6.30	5.84
Net Debt to EBITDA	6.20	22.96	14.11	33.17	-284.09	-4.15	5.20
Long-Term Debt to EBITDA	7.02	23.04	16.21	38.68	-441.41	5.94	5.77
Debt to NOPAT	36.43	-53.88	-66.65	-45.96	-25.23	-12.08	7.67
Net Debt to NOPAT	29.06	-46.46	-56.06	-35.68	-15.98	7.96	6.83
Long-Term Debt to NOPAT	32.93	-46.61	-64.43	-41.60	-24.84	-11.38	7.58
Altman Z-Score	1.00	0.57	0.66	0.76	0.80	0.00	0.00
Noncontrolling Interest Sharing Ratio	43.60%	45.88%	47.74%	50.13%	56.21%	96.31%	379.33%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.97	0.90	1.10	1.07	1.39	1.83	1.16
Quick Ratio	0.14	0.11	0.17	0.26	0.50	0.93	0.24
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	190	-60	-405	-984	-822	-125	0.00
Operating Cash Flow to CapEx	248.85%	208.85%	-11.20%	470.28%	502.76%	501.21%	158.64%
Free Cash Flow to Firm to Interest Expense	1.54	-0.50	-5.70	-36.58	-104.59	-7.18	0.00
Operating Cash Flow to Interest Expense	0.83	0.37	-0.03	1.49	4.69	0.69	1.78
Operating Cash Flow Less CapEx to Interest Expense	0.49	0.19	-0.34	1.17	3.75	0.55	0.66
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.39	0.35	0.31	0.26	0.25	0.51	0.57
Accounts Receivable Turnover	0.00	0.00	0.00	672.54	7,771.58	1,723.01	682.74
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	62.17	50.65	45.74	39.82	33.60	50.40	37.19
Accounts Payable Turnover	6.76	6.73	6.60	5.57	5.46	11.03	9.84
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.54	0.05	0.21	0.53
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	54.03	54.20	55.29	65.56	66.90	33.09	37.08
Cash Conversion Cycle (CCC)	-54.03	-54.20	-55.29	-65.02	-66.85	-32.88	-36.54
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	2,243	2,390	2,360	1,977	1,015	209	88
Invested Capital Turnover	0.60	0.51	0.45	0.38	0.39	0.93	0.91
Increase / (Decrease) in Invested Capital	-148	30	383	962	806	121	0.00
Enterprise Value (EV)	4,278	3,387	3,297	3,087	1,462	0.00	0.00
Market Capitalization	2,619	1,545	1,544	1,718	814	0.00	0.00
Book Value per Share	$4.96	$4.80	$5.24	$5.42	$10.82	$3.89	$0.00
Tangible Book Value per Share	($15.16)	($16.01)	($16.49)	($13.95)	($24.66)	($9.74)	$0.00
Total Capital	2,555	2,624	2,591	2,205	1,157	280	96
Total Debt	1,547	1,605	1,451	1,018	387	43	73
Total Long-Term Debt	1,398	1,388	1,403	921	381	40	72
Net Debt	1,234	1,384	1,220	790	245	-28	65
Capital Expenditures (CapEx)	41	21	22	8.53	7.32	2.40	7.43
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-194	-112	-109	-93	-51	-8.49	-1.80
Debt-free Net Working Capital (DFNWC)	119	109	121	134	91	63	6.20
Net Working Capital (NWC)	-30	-108	73	38	85	60	5.37
Net Nonoperating Expense (NNE)	84	134	55	36	15	19	6.84
Net Nonoperating Obligations (NNO)	1,234	1,371	1,220	790	245	-28	65
Total Depreciation and Amortization (D&A)	115	104	91	55	21	12	3.21
Debt-free, Cash-free Net Working Capital to Revenue	-13.98%	-9.18%	-11.12%	-16.47%	-21.32%	-6.16%	-2.25%
Debt-free Net Working Capital to Revenue	8.54%	8.96%	12.38%	23.67%	37.63%	45.40%	7.76%
Net Working Capital to Revenue	-2.16%	-8.82%	7.46%	6.65%	35.10%	43.60%	6.72%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.39)	($1.50)	($0.74)	($0.64)	($0.58)	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	63.46M	60.13M	56.83M	114.94M	95.65M	19.86M	0.00
Adjusted Diluted Earnings per Share	($0.39)	($1.50)	($0.74)	($0.64)	($0.58)	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	63.46M	60.13M	56.83M	114.94M	95.65M	19.86M	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	($0.64)	($0.58)	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	117.59M	116.67M	116.09M	47.59M	27.18M	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	39	13	0.85	9.50	-15	-3.55	6.67
Normalized NOPAT Margin	2.81%	1.06%	0.09%	1.67%	-6.37%	-2.57%	8.35%
Pre Tax Income Margin	-2.83%	-13.35%	-7.75%	-10.24%	-12.41%	-16.28%	3.37%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.68	-0.36	-0.07	-1.16	-2.80	-0.29	1.41
NOPAT to Interest Expense	0.34	-0.25	-0.31	-0.82	-1.95	-0.20	1.44
EBIT Less CapEx to Interest Expense	0.35	-0.54	-0.38	-1.48	-3.74	-0.43	0.28
NOPAT Less CapEx to Interest Expense	0.01	-0.43	-0.62	-1.14	-2.89	-0.34	0.32
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	-26.96%	-0.53%	-12.24%	0.00%	0.00%	-46.98%	370.03%
Augmented Payout Ratio	-26.96%	-0.53%	-12.24%	0.00%	0.00%	-102.65%	370.03%

This table displays calculated financial ratios and metrics derived from The Baldwin Insurance Group's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.69%	15.89%	10.67%	14.35%	15.11%	15.69%	18.08%	27.85%	36.07%	54.55%	91.34%
EBITDA Growth	-12.45%	681.96%	89.85%	156.27%	253.26%	90.14%	19,792.00%	-77.53%	-62.87%	-116.39%	96.38%
EBIT Growth	-19.69%	80.77%	1,432.33%	114.04%	3,282.92%	53.77%	95.12%	-144.39%	-96.18%	-82.28%	-46.88%
NOPAT Growth	66.30%	81.58%	17,813.95%	199.56%	1,229.63%	55.25%	100.29%	-145.49%	-93.63%	-75.45%	-73.75%
Net Income Growth	-36.32%	44.25%	54.77%	29.31%	251.23%	31.68%	31.47%	-363.14%	-157.66%	-106.09%	-89.86%
EPS Growth	-39.39%	45.61%	55.17%	30.00%	237.50%	32.14%	32.56%	-385.71%	-161.54%	-82.61%	-53.57%
Operating Cash Flow Growth	-2,227.80%	-24.73%	116.69%	63.18%	120.63%	53.94%	-5.14%	4,194.29%	-308.71%	8.43%	46.32%
Free Cash Flow Firm Growth	588.62%	383.34%	-102.75%	-84.45%	104.69%	88.18%	107.82%	104.44%	45.34%	56.55%	-27.70%
Invested Capital Growth	-3.78%	-6.18%	0.56%	0.11%	0.50%	1.27%	-3.60%	-2.85%	23.40%	19.37%	82.69%
Revenue Q/Q Growth	25.32%	-2.67%	-0.27%	-10.65%	33.63%	-7.06%	3.05%	-10.06%	34.30%	-5.14%	11.58%
EBITDA Q/Q Growth	265.45%	-49.55%	54.02%	-69.17%	2,529.28%	-116.46%	107.90%	-57.50%	167.83%	-32,756.80%	-100.24%
EBIT Q/Q Growth	1,084.32%	-134.52%	766.08%	-97.27%	335.74%	-2,291.30%	90.87%	-757.59%	103.22%	-152.24%	-183.08%
NOPAT Q/Q Growth	1,561.90%	-135.53%	-6.39%	-65.80%	261.88%	-34,663.95%	100.52%	-556.78%	105.45%	-122.48%	-182.15%
Net Income Q/Q Growth	171.47%	-140.68%	53.11%	-178.94%	162.56%	-95.26%	26.70%	-68.88%	71.74%	-95.84%	-381.49%
EPS Q/Q Growth	164.52%	-138.46%	53.57%	-184.85%	157.89%	-96.55%	27.50%	-66.67%	71.43%	-95.35%	-407.14%
Operating Cash Flow Q/Q Growth	-489.12%	680.03%	-97.39%	2,688.74%	-86.75%	272.97%	-125.53%	452.50%	-198.87%	218.14%	-894.37%
Free Cash Flow Firm Q/Q Growth	3.33%	6,048.18%	-126.94%	-58.42%	150.50%	-157.66%	52.53%	112.54%	-7.11%	61.86%	13.28%
Invested Capital Q/Q Growth	5.18%	-5.26%	0.01%	-3.45%	2.90%	1.55%	-0.44%	-3.07%	3.35%	-3.34%	0.34%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	52.10%	15.59%	27.07%	28.11%	31.10%	17.55%	28.01%	24.21%	30.11%	19.96%	24.46%
EBITDA Margin	20.84%	7.15%	13.79%	8.93%	25.87%	-1.42%	8.04%	3.98%	8.43%	-16.69%	-0.05%
Operating Margin	13.55%	-1.66%	4.55%	4.84%	9.01%	-10.44%	0.03%	-5.56%	1.10%	-27.00%	-11.51%
EBIT Margin	13.85%	-1.76%	4.97%	0.57%	18.75%	-10.63%	-0.41%	-4.66%	0.64%	-26.59%	-10.00%
Profit (Net Income) Margin	6.02%	-10.56%	-4.27%	-9.08%	10.28%	-21.96%	-10.45%	-14.69%	-7.82%	-37.18%	-18.01%
Tax Burden Percent	100.00%	98.81%	100.00%	105.05%	98.32%	100.61%	100.51%	101.55%	100.30%	100.79%	100.00%
Interest Burden Percent	43.48%	606.03%	-85.88%	-1,509.92%	55.76%	205.34%	2,517.39%	310.19%	-1,222.77%	138.70%	180.05%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	1.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	8.01%	-0.70%	1.81%	1.88%	4.59%	-3.75%	0.01%	-1.84%	0.37%	-8.54%	-3.81%
ROIC Less NNEP Spread (ROIC-NNEP)	5.70%	-3.08%	-0.12%	-1.39%	5.00%	-6.97%	-2.56%	-4.47%	-2.40%	-13.02%	-7.39%
Return on Net Nonoperating Assets (RNNOA)	7.23%	-3.95%	-0.15%	-1.69%	6.12%	-8.36%	-2.78%	-4.63%	-2.08%	-11.24%	-4.56%
Return on Equity (ROE)	15.24%	-4.65%	1.66%	0.19%	10.71%	-12.11%	-2.77%	-6.47%	-1.71%	-19.79%	-8.38%
Cash Return on Invested Capital (CROIC)	6.25%	8.21%	0.52%	0.52%	-0.84%	-2.51%	1.36%	-0.30%	-23.08%	-18.66%	-58.60%
Operating Return on Assets (OROA)	5.58%	-0.70%	1.92%	0.21%	6.84%	-3.72%	-0.14%	-1.54%	0.21%	-8.23%	-3.17%
Return on Assets (ROA)	2.43%	-4.17%	-1.65%	-3.33%	3.75%	-7.68%	-3.61%	-4.84%	-2.62%	-11.50%	-5.70%
Return on Common Equity (ROCE)	8.75%	-2.62%	0.93%	0.11%	5.87%	-6.56%	-1.50%	-3.45%	-0.90%	-10.34%	-4.40%
Return on Equity Simple (ROE_SIMPLE)	-8.92%	0.00%	-11.55%	-14.60%	-16.57%	0.00%	-32.67%	-34.70%	-24.32%	0.00%	-4.55%
Net Operating Profit after Tax (NOPAT)	56	-3.83	11	12	34	-21	0.06	-12	2.53	-46	-21
NOPAT Margin	13.55%	-1.16%	3.18%	3.39%	8.86%	-7.31%	0.02%	-3.89%	0.77%	-18.90%	-8.06%
Net Nonoperating Expense Percent (NNEP)	2.31%	2.38%	1.94%	3.27%	-0.40%	3.22%	2.57%	2.63%	2.77%	4.48%	3.58%
Return On Investment Capital (ROIC_SIMPLE)	2.11%	-0.15%	-	-	-	-0.79%	-	-	-	-1.79%	-
Cost of Revenue to Revenue	47.90%	84.41%	72.93%	71.89%	68.91%	82.45%	71.99%	75.79%	69.89%	80.04%	75.54%
SG&A Expenses to Revenue	14.03%	15.51%	14.41%	13.70%	12.04%	17.22%	15.40%	15.98%	14.10%	20.03%	18.20%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	38.55%	17.25%	22.52%	23.27%	22.09%	27.99%	27.99%	29.77%	29.01%	46.96%	35.97%
Earnings before Interest and Taxes (EBIT)	57	-5.82	17	1.95	71	-30	-1.27	-14	2.11	-65	-26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	86	24	47	30	98	-4.05	25	12	28	-41	-0.13
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.92	4.49	5.58	3.79	3.16	2.76	2.51	2.49	2.47	2.54	2.32
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.14	1.89	2.47	1.71	1.49	1.27	1.26	1.31	1.40	1.57	1.69
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.03	1.91	2.15	1.70	1.53	1.42	1.38	1.38	1.36	1.40	1.35
Enterprise Value to Revenue (EV/Rev)	3.36	3.08	3.79	3.06	2.95	2.78	2.75	2.87	3.12	3.36	3.69
Enterprise Value to EBITDA (EV/EBITDA)	25.61	21.49	29.72	26.89	28.62	56.21	139.59	0.00	84.57	38.10	30.38
Enterprise Value to EBIT (EV/EBIT)	68.11	50.76	85.12	96.19	144.35	0.00	0.00	0.00	0.00	0.00	134.26
Enterprise Value to NOPAT (EV/NOPAT)	82.95	100.78	200.00	272.13	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	136.09	41.88	47.38	43.26	60.81	75.87	87.71	86.55	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	31.84	22.51	415.09	328.92	0.00	0.00	99.86	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.54	1.53	1.62	1.61	1.51	1.58	1.37	1.35	1.33	1.27	1.20
Long-Term Debt to Equity	1.49	1.39	1.42	1.41	1.29	1.36	1.28	1.24	1.22	1.23	1.17
Financial Leverage	1.27	1.28	1.24	1.21	1.22	1.20	1.09	1.04	0.87	0.86	0.62
Leverage Ratio	3.33	3.47	3.30	3.34	3.16	3.23	2.97	2.92	2.70	2.72	2.42
Compound Leverage Factor	1.45	21.03	-2.83	-50.40	1.76	6.62	74.89	9.05	-33.02	3.78	4.35
Debt to Total Capital	60.56%	60.52%	61.77%	61.73%	60.09%	61.17%	57.86%	57.43%	57.08%	56.00%	54.54%
Short-Term Debt to Total Capital	1.71%	5.81%	7.63%	7.68%	8.76%	8.26%	3.89%	4.57%	4.51%	1.86%	1.55%
Long-Term Debt to Total Capital	58.85%	54.71%	54.14%	54.05%	51.34%	52.91%	53.97%	52.86%	52.57%	54.14%	52.99%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	16.13%	16.65%	16.27%	16.60%	17.64%	17.47%	18.96%	19.35%	19.83%	20.53%	21.26%
Common Equity to Total Capital	23.31%	22.82%	21.95%	21.67%	22.26%	21.36%	23.18%	23.22%	23.09%	23.47%	24.20%
Debt to EBITDA	8.62	7.77	9.77	11.28	12.34	26.63	63.44	-987.99	38.10	16.77	13.52
Net Debt to EBITDA	7.02	6.20	7.76	8.86	10.55	22.96	55.07	-845.87	33.35	14.11	11.21
Long-Term Debt to EBITDA	8.37	7.02	8.56	9.87	10.54	23.04	59.17	-909.38	35.08	16.21	13.14
Debt to NOPAT	27.90	36.43	65.75	114.11	-193.56	-53.88	-26.58	-19.36	-31.86	-66.65	-827.48
Net Debt to NOPAT	22.72	29.06	52.22	89.70	-165.46	-46.46	-23.07	-16.58	-27.89	-56.06	-686.25
Long-Term Debt to NOPAT	27.11	32.93	57.63	99.91	-165.35	-46.61	-24.79	-17.82	-29.34	-64.43	-804.01
Altman Z-Score	1.15	0.92	1.11	0.79	0.79	0.58	0.66	0.63	0.66	0.61	0.68
Noncontrolling Interest Sharing Ratio	42.57%	43.60%	43.80%	44.44%	45.23%	45.88%	45.93%	46.59%	47.35%	47.74%	47.43%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.13	0.97	0.98	0.98	0.90	0.90	1.00	0.99	1.01	1.10	1.24
Quick Ratio	0.32	0.14	0.18	0.18	0.11	0.11	0.10	0.13	0.11	0.17	0.28
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	149	144	-2.42	8.97	22	-51	88	58	-460	-429	-1,126
Operating Cash Flow to CapEx	-716.25%	135.31%	21.24%	745.48%	35.53%	302.60%	-322.00%	944.60%	-280.68%	440.30%	-175.74%
Free Cash Flow to Firm to Interest Expense	4.59	4.88	-0.08	0.29	0.68	-1.59	2.88	1.98	-16.50	-16.96	-54.23
Operating Cash Flow to Interest Expense	-1.98	0.56	0.07	2.58	0.09	0.69	-0.41	1.70	-0.50	0.56	-0.58
Operating Cash Flow Less CapEx to Interest Expense	-2.25	0.15	-0.25	2.23	-0.17	0.46	-0.54	1.52	-0.68	0.43	-0.91
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.40	0.39	0.39	0.37	0.36	0.35	0.35	0.33	0.33	0.31	0.32
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1,141.98	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	62.75	62.17	58.89	56.09	52.35	50.65	48.28	48.05	48.84	45.74	46.71
Accounts Payable Turnover	7.11	6.76	6.68	7.93	7.78	6.73	7.11	7.92	6.15	6.60	5.41
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.32	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	51.34	54.03	54.61	46.01	46.94	54.20	51.31	46.09	59.33	55.29	67.44
Cash Conversion Cycle (CCC)	-51.34	-54.03	-54.61	-46.01	-46.94	-54.20	-51.31	-46.09	-59.01	-55.29	-67.44
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,359	2,243	2,367	2,367	2,451	2,390	2,354	2,364	2,439	2,360	2,442
Invested Capital Turnover	0.59	0.60	0.57	0.55	0.52	0.51	0.49	0.47	0.48	0.45	0.47
Increase / (Decrease) in Invested Capital	-93	-148	13	2.55	12	30	-88	-69	463	383	1,105
Enterprise Value (EV)	4,785	4,278	5,096	4,015	3,744	3,387	3,244	3,255	3,328	3,297	3,300
Market Capitalization	3,046	2,619	3,324	2,239	1,890	1,545	1,481	1,489	1,495	1,544	1,509
Book Value per Share	$5.27	$4.96	$5.06	$5.03	$9.67	$4.80	$5.06	$5.12	$5.22	$5.24	$5.63
Tangible Book Value per Share	($14.71)	($15.16)	($15.18)	($15.37)	($29.34)	($16.01)	($16.06)	($16.15)	($16.34)	($16.49)	($16.31)
Total Capital	2,658	2,555	2,712	2,727	2,686	2,624	2,548	2,577	2,626	2,591	2,692
Total Debt	1,610	1,547	1,675	1,684	1,614	1,605	1,474	1,480	1,499	1,451	1,468
Total Long-Term Debt	1,564	1,398	1,468	1,474	1,379	1,388	1,375	1,362	1,381	1,403	1,427
Net Debt	1,310	1,234	1,330	1,323	1,380	1,384	1,280	1,267	1,312	1,220	1,218
Capital Expenditures (CapEx)	8.93	12	9.93	11	8.15	7.22	3.92	5.24	5.00	3.22	6.84
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-131	-194	-155	-170	-101	-112	-92	-104	-61	-109	-71
Debt-free Net Working Capital (DFNWC)	168	119	190	190	133	109	103	109	126	121	179
Net Working Capital (NWC)	122	-30	-17	-19	-102	-108	3.62	-8.89	7.66	73	138
Net Nonoperating Expense (NNE)	31	31	25	42	-5.42	42	32	32	28	45	26
Net Nonoperating Obligations (NNO)	1,310	1,234	1,330	1,323	1,380	1,371	1,280	1,267	1,312	1,220	1,218
Total Depreciation and Amortization (D&A)	29	29	30	28	27	26	26	26	26	24	26
Debt-free, Cash-free Net Working Capital to Revenue	-9.23%	-13.98%	-11.54%	-12.94%	-7.96%	-9.18%	-7.77%	-9.18%	-5.67%	-11.12%	-7.99%
Debt-free Net Working Capital to Revenue	11.80%	8.54%	14.11%	14.53%	10.51%	8.96%	8.71%	9.61%	11.82%	12.38%	20.05%
Net Working Capital to Revenue	8.61%	-2.16%	-1.29%	-1.45%	-8.03%	-8.82%	0.31%	-0.78%	0.72%	7.46%	15.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.21	($0.33)	($0.13)	($0.28)	$0.35	($0.57)	($0.29)	($0.40)	($0.24)	($0.87)	($0.43)
Adjusted Weighted Average Basic Shares Outstanding	66.07M	63.46M	64.01M	63.12M	61.86M	60.13M	60.55M	60.09M	58.71M	56.83M	57.28M
Adjusted Diluted Earnings per Share	$0.20	($0.31)	($0.13)	($0.28)	$0.33	($0.57)	($0.29)	($0.40)	($0.24)	($0.84)	($0.43)
Adjusted Weighted Average Diluted Shares Outstanding	69.33M	63.46M	64.01M	63.12M	65.31M	60.13M	60.55M	60.09M	58.71M	56.83M	57.28M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	118.52M	117.59M	117.58M	117.64M	117.55M	116.67M	116.75M	116.78M	116.80M	116.09M	116.03M
Normalized Net Operating Profit after Tax (NOPAT)	45	-19	10	15	46	-17	9.80	-0.10	20	-16	-5.71
Normalized NOPAT Margin	10.85%	-5.88%	2.99%	4.53%	12.13%	-5.83%	3.20%	-0.03%	6.01%	-6.63%	-2.20%
Pre Tax Income Margin	6.02%	-10.69%	-4.27%	-8.65%	10.45%	-21.82%	-10.40%	-14.47%	-7.80%	-36.89%	-18.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.77	-0.20	0.54	0.06	2.26	-0.95	-0.04	-0.48	0.08	-2.58	-1.25
NOPAT to Interest Expense	1.73	-0.13	0.34	0.37	1.07	-0.65	0.00	-0.40	0.09	-1.84	-1.01
EBIT Less CapEx to Interest Expense	1.49	-0.61	0.22	-0.28	2.00	-1.18	-0.17	-0.66	-0.10	-2.71	-1.58
NOPAT Less CapEx to Interest Expense	1.45	-0.54	0.03	0.02	0.81	-0.88	-0.13	-0.58	-0.09	-1.96	-1.34
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	-26.96%	-15.66%	-12.98%	-0.57%	-0.53%	-0.41%	-0.17%	-6.38%	-12.24%	-31.67%
Augmented Payout Ratio	0.00%	-26.96%	-15.66%	-12.98%	-0.57%	-0.53%	-0.41%	-0.17%	-6.38%	-12.24%	-31.67%

Frequently Asked Questions About The Baldwin Insurance Group's Financials

When does The Baldwin Insurance Group's fiscal year end?

According to the most recent income statement we have on file, The Baldwin Insurance Group's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has The Baldwin Insurance Group's net income changed over the last 6 years?

The Baldwin Insurance Group's net income appears to be on an upward trend, with a most recent value of -$41.08 million in 2024, falling from $2.69 million in 2018. The previous period was -$164.02 million in 2023.

What is The Baldwin Insurance Group's operating income?

The Baldwin Insurance Group's total operating income in 2024 was $60.65 million, based on the following breakdown:

Total Gross Profit: $356.99 million
Total Operating Expenses: $296.34 million

How has The Baldwin Insurance Group revenue changed over the last 6 years?

Over the last 6 years, The Baldwin Insurance Group's total revenue changed from $79.88 million in 2018 to $1.39 billion in 2024, a change of 1,638.9%.

How much debt does The Baldwin Insurance Group have?

The Baldwin Insurance Group's total liabilities were at $2.53 billion at the end of 2024, a 1.7% increase from 2023, and a 2,058.5% increase since 2018.

How much cash does The Baldwin Insurance Group have?

In the past 6 years, The Baldwin Insurance Group's cash and equivalents has ranged from $8.00 million in 2018 to $148.12 million in 2024, and is currently $148.12 million as of their latest financial filing in 2024.

How has The Baldwin Insurance Group's book value per share changed over the last 6 years?

Over the last 6 years, The Baldwin Insurance Group's book value per share changed from 0.00 in 2018 to 4.96 in 2024, a change of 496.0%.

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This page (NASDAQ:BRP) was last updated on 5/28/2025 by MarketBeat.com Staff

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The Baldwin Insurance Group (BRP) Financials

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The Baldwin Insurance Group (BRP) Financials

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