Baldwin Insurance Group, Inc.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $1.5B | $1.4B | $1.2B | $980.7M | $567.3M |
| Operating income | $73.9M | $60.6M | -$42.6M | -$31.1M | -$31.6M |
| Operating expenses | $183.2M | $138.9M | $140.4M | $127.0M | — |
| Cash from operations | -$29.4M | $51.5M | $46,000 | -$2.5M | $40.1M |
| Capital expenditure | $39.5M | $41.0M | $21.4M | $22.0M | $5.3M |
| Free cash flow | -$68.9M | $10.4M | -$21.3M | -$24.4M | $34.8M |
| Share repurchases | $0 | $0 | $0 | $0 | $0 |
| Total assets | $3.9B | $3.5B | $3.5B | $3.5B | $2.9B |
| Total liabilities | $2.8B | $2.5B | $2.5B | $2.3B | $1.7B |
| Total debt | $1.6B | $1.4B | $998.7M | — | — |
Shares outstanding 142.6M · Free float 91.2%
Annual filing data through FY ended December 31, 2025; float as of June 27, 2026.