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BALDWIN INSURANCE GROUP INC/ (BWIN) Stock Fundamental Analysis

NASDAQ:BWIN - Nasdaq - US05589G1022 - Common Stock

41.23  +0.36 (+0.88%)

After market: 41.23 0 (0%)

Fundamental Rating

3

Taking everything into account, BWIN scores 3 out of 10 in our fundamental rating. BWIN was compared to 144 industry peers in the Insurance industry. Both the profitability and financial health of BWIN have multiple concerns. BWIN is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year BWIN was profitable.
BWIN had a positive operating cash flow in the past year.
BWIN Yearly Net Income VS EBIT VS OCF VS FCFBWIN Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2021 2022 2023 0 20M -20M 40M -40M -60M -80M

1.2 Ratios

Looking at the Return On Assets, with a value of -1.10%, BWIN is doing worse than 84.51% of the companies in the same industry.
BWIN has a worse Return On Equity (-6.52%) than 82.39% of its industry peers.
BWIN's Return On Invested Capital of 1.15% is in line compared to the rest of the industry. BWIN outperforms 42.96% of its industry peers.
Industry RankSector Rank
ROA -1.1%
ROE -6.52%
ROIC 1.15%
ROA(3y)-1.62%
ROA(5y)N/A
ROE(3y)-9.33%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
BWIN Yearly ROA, ROE, ROICBWIN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2021 2022 2023 -5 -10 -15

1.3 Margins

BWIN has a Operating Margin of 2.71%. This is in the lower half of the industry: BWIN underperforms 77.46% of its industry peers.
With an excellent Gross Margin value of 26.46%, BWIN belongs to the best of the industry, outperforming 88.73% of the companies in the same industry.
Industry RankSector Rank
OM 2.71%
PM (TTM) N/A
GM 26.46%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
BWIN Yearly Profit, Operating, Gross MarginsBWIN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2021 2022 2023 0 10 20

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2

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BWIN is destroying value.
The number of shares outstanding for BWIN has been increased compared to 1 year ago.
The debt/assets ratio for BWIN has been reduced compared to a year ago.
BWIN Yearly Shares OutstandingBWIN Yearly Shares OutstandingYearly Shares Outstanding 2021 2022 2023 20M 40M 60M 80M 100M
BWIN Yearly Total Debt VS Total AssetsBWIN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2021 2022 2023 1B 2B 3B

2.2 Solvency

Based on the Altman-Z score of 1.31, we must say that BWIN is in the distress zone and has some risk of bankruptcy.
With an excellent Altman-Z score value of 1.31, BWIN belongs to the best of the industry, outperforming 81.69% of the companies in the same industry.
The Debt to FCF ratio of BWIN is 19.78, which is on the high side as it means it would take BWIN, 19.78 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of BWIN (19.78) is worse than 71.83% of its industry peers.
A Debt/Equity ratio of 2.35 is on the high side and indicates that BWIN has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 2.35, BWIN is doing worse than 93.66% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 2.35
Debt/FCF 19.78
Altman-Z 1.31
ROIC/WACC0.13
WACC8.62%
BWIN Yearly LT Debt VS Equity VS FCFBWIN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2021 2022 2023 0 200M 400M 600M 800M 1B

2.3 Liquidity

BWIN has a Current Ratio of 0.98. This is a bad value and indicates that BWIN is not financially healthy enough and could expect problems in meeting its short term obligations.
With a decent Current ratio value of 0.98, BWIN is doing good in the industry, outperforming 76.76% of the companies in the same industry.
A Quick Ratio of 0.98 indicates that BWIN may have some problems paying its short term obligations.
The Quick ratio of BWIN (0.98) is better than 76.76% of its industry peers.
Industry RankSector Rank
Current Ratio 0.98
Quick Ratio 0.98
BWIN Yearly Current Assets VS Current LiabilitesBWIN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2021 2022 2023 200M 400M 600M 800M 1B

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6

3. Growth

3.1 Past

BWIN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 24.55%, which is quite impressive.
BWIN shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 34.53% yearly.
BWIN shows a strong growth in Revenue. In the last year, the Revenue has grown by 24.25%.
EPS 1Y (TTM)24.55%
EPS 3Y34.53%
EPS 5YN/A
EPS Q2Q%13.79%
Revenue 1Y (TTM)24.25%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-70.08%

3.2 Future

Based on estimates for the next years, BWIN will show a very strong growth in Earnings Per Share. The EPS will grow by 30.69% on average per year.
Based on estimates for the next years, BWIN will show a quite strong growth in Revenue. The Revenue will grow by 13.86% on average per year.
EPS Next Y36.3%
EPS Next 2Y32.77%
EPS Next 3Y30.69%
EPS Next 5YN/A
Revenue Next Year14.04%
Revenue Next 2Y13.57%
Revenue Next 3Y13.86%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
BWIN Yearly Revenue VS EstimatesBWIN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 500M 1B 1.5B
BWIN Yearly EPS VS EstimatesBWIN Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2 2.5

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2

4. Valuation

4.1 Price/Earnings Ratio

BWIN is valuated quite expensively with a Price/Earnings ratio of 30.09.
Based on the Price/Earnings ratio, BWIN is valued a bit more expensive than the industry average as 77.46% of the companies are valued more cheaply.
When comparing the Price/Earnings ratio of BWIN to the average of the S&P500 Index (27.96), we can say BWIN is valued inline with the index average.
The Price/Forward Earnings ratio is 20.88, which indicates a rather expensive current valuation of BWIN.
BWIN's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. BWIN is more expensive than 69.72% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 24.11. BWIN is around the same levels.
Industry RankSector Rank
PE 30.09
Fwd PE 20.88
BWIN Price Earnings VS Forward Price EarningsBWIN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BWIN indicates a slightly more expensive valuation: BWIN is more expensive than 67.61% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, BWIN is valued a bit more expensive than the industry average as 72.54% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF 68.12
EV/EBITDA 42.47
BWIN Per share dataBWIN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 -5 10 -10 -15

4.3 Compensation for Growth

BWIN's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as BWIN's earnings are expected to grow with 30.69% in the coming years.
PEG (NY)0.83
PEG (5Y)N/A
EPS Next 2Y32.77%
EPS Next 3Y30.69%

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0

5. Dividend

5.1 Amount

BWIN does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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BALDWIN INSURANCE GROUP INC/

NASDAQ:BWIN (1/17/2025, 8:00:01 PM)

After market: 41.23 0 (0%)

41.23

+0.36 (+0.88%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)11-04 2024-11-04/amc
Earnings (Next)N/A N/A
Inst Owners99.47%
Inst Owner ChangeN/A
Ins Owners1.31%
Ins Owner Change-5.36%
Market Cap4.85B
Analysts80
Price Target51.73 (25.47%)
Short Float %6.56%
Short Ratio5.84
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-1.98%
Min EPS beat(2)-5.25%
Max EPS beat(2)1.28%
EPS beat(4)3
Avg EPS beat(4)5.48%
Min EPS beat(4)-5.25%
Max EPS beat(4)20.87%
EPS beat(8)5
Avg EPS beat(8)2.83%
EPS beat(12)8
Avg EPS beat(12)3.67%
EPS beat(16)10
Avg EPS beat(16)5.88%
Revenue beat(2)0
Avg Revenue beat(2)-37.29%
Min Revenue beat(2)-74.14%
Max Revenue beat(2)-0.45%
Revenue beat(4)0
Avg Revenue beat(4)-18.99%
Min Revenue beat(4)-74.14%
Max Revenue beat(4)-0.45%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-0.56%
PT rev (3m)11.87%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-13.2%
EPS NY rev (1m)-0.3%
EPS NY rev (3m)-3.92%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.6%
Revenue NY rev (1m)-0.14%
Revenue NY rev (3m)-0.63%
Valuation
Industry RankSector Rank
PE 30.09
Fwd PE 20.88
P/S 3.61
P/FCF 68.12
P/OCF 45.07
P/B 8.14
P/tB N/A
EV/EBITDA 42.47
EPS(TTM)1.37
EY3.32%
EPS(NY)1.97
Fwd EY4.79%
FCF(TTM)0.61
FCFY1.47%
OCF(TTM)0.91
OCFY2.22%
SpS11.43
BVpS5.06
TBVpS-15.19
PEG (NY)0.83
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -1.1%
ROE -6.52%
ROCE 1.45%
ROIC 1.15%
ROICexc 1.24%
ROICexgc N/A
OM 2.71%
PM (TTM) N/A
GM 26.46%
FCFM 5.3%
ROA(3y)-1.62%
ROA(5y)N/A
ROE(3y)-9.33%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.38
Health
Industry RankSector Rank
Debt/Equity 2.35
Debt/FCF 19.78
Debt/EBITDA 9.85
Cap/Depr 34.45%
Cap/Sales 2.71%
Interest Coverage 0.36
Cash Conversion 75.74%
Profit Quality N/A
Current Ratio 0.98
Quick Ratio 0.98
Altman-Z 1.31
F-Score4
WACC8.62%
ROIC/WACC0.13
Cap/Depr(3y)23.26%
Cap/Depr(5y)N/A
Cap/Sales(3y)2.01%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)24.55%
EPS 3Y34.53%
EPS 5YN/A
EPS Q2Q%13.79%
EPS Next Y36.3%
EPS Next 2Y32.77%
EPS Next 3Y30.69%
EPS Next 5YN/A
Revenue 1Y (TTM)24.25%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-70.08%
Revenue Next Year14.04%
Revenue Next 2Y13.57%
Revenue Next 3Y13.86%
Revenue Next 5YN/A
EBIT growth 1Y-47.76%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year487.33%
EBIT Next 3Y101.94%
EBIT Next 5YN/A
FCF growth 1Y176.09%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y1913.32%
OCF growth 3YN/A
OCF growth 5YN/A