The Baldwin Insurance Group, Inc.

BWIN

BWINThe Baldwin Insurance Group, Inc. US flag

NASDAQ Global Market

26.47

USD

+0.58

- -

1.98BMarket Cap

Income Statement (USD)

API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Sales/Revenue/Turnover	47	79	135	232	560	969	1,208	1,376	1,488
+ Sales & Services Revenue	47	79	135	232	560	969	1,208	1,376	1,488
- Cost of Revenue	31	52	97	174	400	719	911	1,032	1,057
+ Cost of Goods & Services	31	52	97	174	400	719	911	1,032	1,057
Gross Profit	17	27	38	58	160	250	296	344	431
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	10	16	32	59	146	249	278	288	352
+ Selling, General & Admin	10	14	25	48	- -	- -	- -	- -	- -
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	1	2	8	11	146	249	278	288	352
Operating Income (Loss)	6	11	6	-1	14	1	19	56	80
- Non-Operating (Income) Loss	2	8	28	28	72	77	181	95	132
+ Interest Expense, Net	2	7	11	8	27	71	119	- -	- -
+ Interest Expense	2	7	11	8	27	71	119	- -	- -
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	- -	1	18	21	45	6	62	95	132
Pretax Income	4	3	-22	-30	-58	-76	-163	-39	-52
- Income Tax Expense (Benefit)	- -	- -	- -	- -	- -	1	1	2	2
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	4	3	-22	-30	-58	-77	-164	-41	-54
- Net Extraordinary Losses (Gains)	4	7	-28	-28	-55	-70	-148	-33	-41
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	4	7	-28	-28	-55	-70	-148	-33	-41
Income (Loss) Incl. MI	- -	-4	5	-2	-3	-7	-16	-8	-13
- Minority Interest	-2	-3	14	14	27	35	74	17	20
Net Income, GAAP	2	-1	-9	-16	-31	-42	-90	-25	-34
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	2	-1	-9	-16	-31	-42	-90	-25	-34
EBIT	6	11	6	-1	14	1	19	56	80
EBITDA	8	14	16	19	65	88	117	165	207
EBITDA Margin (%)	16.16	17.56	12.09	8.09	11.62	9.03	9.68	11.96	13.93
EBITA	6	11	6	-1	14	1	19	56	80
Gross Margin (%)	34.93	34.49	28.14	24.85	28.56	25.79	24.54	25.01	28.97
Operating Margin (%)	13.13	13.64	4.27	-0.61	2.42	0.12	1.53	4.05	5.34
Profit Margin (%)	3.6	-0.79	-6.41	-6.77	-5.47	-4.31	-7.46	-1.78	-2.27
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.17	0.23	0.59	- -	- -	- -	0.01	- -	- -
Depreciation Expense	1	3	11	20	52	86	98	109	128
Basic Weighted Avg Shares	40	42	18	27	48	57	60	63	68
Basic EPS, GAAP	0.04	-0.01	-0.48	-0.58	-0.64	-0.74	-1.5	-0.39	-0.5
Basic EPS from Cont Ops	0.1	0.06	-1.25	-1.1	-1.22	-1.35	-2.73	-0.65	-0.8
Diluted Weighted Avg Shares	44	47	18	27	48	57	60	63	68
Diluted EPS, GAAP	0.04	-0.01	-0.48	-0.58	-0.64	-0.74	-1.5	-0.39	-0.5
Diluted EPS from Cont Ops	0.09	0.06	-1.25	-1.1	-1.22	-1.35	-2.73	-0.65	-0.8

Balance Sheet (USD)

API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Current Assets	9	39	133	302	578	772	926	1,026	1,200
+ Cash, Cash Equivalents & STI	3	8	68	108	138	118	116	90	124
+ Cash & Cash Equivalents	3	8	68	108	138	118	116	90	124
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	5	30	59	156	343	532	628	702	839
+ Accounts Receivable, Net	5	29	59	156	341	532	628	284	342
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	2	- -	- -	419	497
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	1	1	6	38	98	122	182	234	237
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	36	101	266	1,228	2,298	2,690	2,576	2,508	2,663
+ Property, Plant & Equip, Net	1	2	3	11	99	122	108	94	84
+ Property, Plant & Equip	3	5	7	13	103	131	122	114	107
- Accumulated Depreciation	2	3	3	2	4	9	14	20	22
+ LT Investments & Receivables	- -	- -	- -	2	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	2	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	35	99	262	1,215	2,199	2,568	2,468	2,414	2,578
+ Total Intangible Assets	35	96	257	1,206	2,173	2,522	2,430	2,366	2,496
+ Goodwill	27	66	164	652	1,229	1,422	1,412	1,412	1,517
+ Other Intangible Assets	7	30	92	554	944	1,100	1,017	953	978
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	4	5	9	26	46	38	48	82
Total Assets	45	140	399	1,530	2,876	3,462	3,502	3,535	3,862
+ Payables & Accruals	6	28	61	173	367	538	645	733	838
+ Accounts Payable	4	27	58	160	352	525	620	714	771
+ Accrued Taxes	- -	- -	- -	- -	5	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	2	1	3	13	10	13	25	19	67
+ ST Debt	3	1	2	10	118	71	244	174	40
+ ST Borrowings	3	1	2	10	105	57	227	157	22
+ ST Finance Leases	- -	- -	- -	- -	13	14	17	17	18
+ Other ST Liabilities	3	4	10	34	56	90	145	149	155
+ Deferred Revenue	3	1	5	12	18	31	30	41	38
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	3	4	23	38	59	114	109	117
Total Current Liabilities	12	33	73	217	541	699	1,033	1,056	1,033
+ LT Debt	24	72	40	381	921	1,403	1,388	1,467	1,731
+ LT Borrowings	24	72	40	381	850	1,315	1,309	1,398	1,673
+ LT Finance Leases	- -	- -	- -	- -	71	88	79	69	58
+ Other LT Liabilities	25	51	48	161	227	220	61	3	14
+ Accrued Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	25	51	48	161	227	220	61	3	14
Total Noncurrent Liabilities	49	123	89	543	1,148	1,623	1,450	1,470	1,745
Total Liabilities	61	156	161	760	1,689	2,322	2,483	2,526	2,778
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	- -	- -	83	393	664	705	747	795	845
+ Common Stock	- -	- -	- -	- -	1	1	1	1	1
+ Additional Paid in Capital	- -	- -	82	392	663	704	747	794	844
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	-40	-64	-9	-24	-55	-97	-187	-211	-245
+ Other Equity	- -	- -	- -	- -	- -	- -	- -	- -	- -
Equity Before Minority Interest	-40	-64	73	368	608	608	560	583	600
+ Minority/Non Controlling Interest	24	47	164	402	579	532	458	426	484
Total Equity	-16	-17	237	770	1,188	1,140	1,019	1,009	1,084
Total Liabilities & Equity	45	140	399	1,530	2,876	3,462	3,502	3,535	3,862
Shares Outstanding	16	16	19	45	59	61	64	68	72
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	84	102	96	86	76
Net Debt	24	65	-25	283	816	1,254	1,420	1,465	1,571
Net Debt to Equity	-146.79	-393.16	-10.47	36.76	68.75	109.95	139.36	145.22	144.88
Tangible Common Equity Ratio	-510.35	-252.86	-13.85	-134.48	-140.19	-146.98	-131.58	-116.1	-103.26
Current Ratio	0.69	1.16	1.83	1.39	1.07	1.1	0.9	0.97	1.16
Cash Conversion Cycle	- -	-30.39	-41.02	-59.53	-71.68	-58.19	-54.05	-115.09	-179.72

Cash Flow Statement (USD)

API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

+ Net Income	4	3	-22	-30	-58	-77	-164	-41	-54
+ Depreciation & Amortization	1	3	11	20	52	86	98	109	128
+ Non-Cash Items	2	6	23	28	64	9	104	6	-4
+ Stock-Based Compensation	- -	1	3	8	19	47	60	66	71
+ Deferred Income Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	2	5	20	20	44	-39	44	-60	-75
+ Chg in Non-Cash Work Cap	1	- -	- -	19	-17	-21	-38	-22	-99
+ (Inc) Dec in Accts Receiv	-1	1	-6	-7	-65	-183	-50	-42	-45
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	-1	-3	-2	-10	-10	-7	-7	-10
+ Inc (Dec) in Accts Payable	2	1	9	27	55	173	6	- -	-11
+ Inc (Dec) in Other	- -	-1	- -	- -	2	-1	13	28	-33
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	8	12	12	37	40	-2	- -	51	-29
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	- -	202	373	269	- -	- -	- -	- -
+ Increase in Capital Stock	- -	- -	246	452	269	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	-44	-78	- -	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	-13	-35	-99	-670	-670	-389	2	53	-100
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	3	57	2
+ Cash for Acq of Subs	-13	-35	-99	-670	-670	-389	-2	-4	-102
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	-7	-2	-7	-9	-25	-23	-40	-40
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-14	-43	-101	-678	-678	-414	-22	13	-140
+ Dividends Paid	-7	-10	-11	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	11	48	-35	346	506	931	-3	96	275
+ Cash From Debt	11	49	119	672	1,282	1,024	281	1,546	2,205
+ Repayments of Debt	-1	-1	-155	-326	-776	-93	-284	-1,450	-1,930
+ Other Financing Activities	- -	-3	-4	-7	-51	-512	22	-75	-71
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	4	36	152	712	724	420	18	21	204
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-2	5	63	71	86	3	-4	86	34
EBITDA	8	14	16	19	65	88	117	165	207
EBITDA Margin (%)	16.16	17.56	12.09	8.09	11.62	9.03	9.68	11.96	13.93
Free Cash Flow	8	12	12	37	40	-2	- -	51	-29
Net Cash Paid for Acquisitions	13	35	99	670	670	389	-2	-53	100
Free Cash Flow to Firm	10	18	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow to Equity	- -	60	-23	383	546	929	-3	148	245
Free Cash Flow per Basic Share	0.2	0.28	0.67	1.35	0.84	-0.04	- -	0.81	-0.43
Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	47.8	-55.5
Cash Flow to Net Income	4.71	-18.9	-1.39	-2.35	-1.31	0.06	- -	-2.1	0.87
Capital Expenditures	- -	- -	- -	- -	- -	- -	- -	- -	- -