“We expect interest expense to grow in the near term on a year-over-year basis due to higher borrowings under the JPM Credit Facility to fund partnership opportunities and the settlement of deferred payment obligations, offset slightly by lower expected intere…”10-Q · Jul 30, 2026 ↗
The Baldwin Insurance Group, Inc.
BWIN
Market read
The Baldwin Insurance Group, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 9 directly disclosed connections are confirming.
- Net interest expense increased $14.3M (quarter) and $23.3M (YTD) for the periods ended June 30, 2026 vs 2025, attributed to higher average borrowings partly offset by a lower average interest rate.
- Year‑over‑year change in net interest expense and management's near‑term expectation for interest expense growth from higher borrowings under the JPM Credit Facility.
Invalidation: The isolated read changes if BWIN's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 9 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- Net interest expense increased $14.3M (quarter) and $23.3M (YTD) for the periods ended June 30, 2026 vs 2025, attributed to higher average borrowings partly offset by a lower average interest rate.
- Year‑over‑year change in net interest expense and management's near‑term expectation for interest expense growth from higher borrowings under the JPM Credit Facility.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +8.5% year over year.
- Diluted shares increased 7.1% in the latest annual period.
- EV/sales is 72% below the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 11, 2026
29.64Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“We are subject to laws, rules, regulations, orders, industry standards, contractual obligations and other legal obligations relating to the collection, use, retention, security, transfer, storage, disposition and other processing of this information.”10-K · Feb 26, 2026 ↗
“The technologies underlying AI and its uses are subject to a variety of laws and regulations, including intellectual property, data privacy and cybersecurity, client protection, trade and export controls, competition, and equal opportunity laws, and are expec…”10-K · Feb 26, 2026 ↗
“After excluding partnership activity, colleague compensation and benefits increased $2.7 million primarily due to elevated health plan costs and higher severance.”10-Q · Jul 30, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.3× · EV/sales 1.3×. Comparisons use only industry-matched filing peers.
Scenarios are withheld for Financial Services until sector-specific earnings and capital metrics are available; generic revenue/P/S scaffolds would be misleading.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for BWIN. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for BWIN. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind BWIN
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
AJGArthur J. Gallagher & Co.competitorFeb 26, 2026 ▾
“We actively compete with numerous integrated financial services organizations as well as insurance companies and brokers, producer groups, individual insurance agents, investment management firms, independent financial planners and broker-dealers, including p…”
WTWWillis Towers Watson Public Limited CompanycompetitorFeb 26, 2026 ▾
“We actively compete with numerous integrated financial services organizations as well as insurance companies and brokers, producer groups, individual insurance agents, investment management firms, independent financial planners and broker-dealers, including p…”
Depended on by
RBCRBC Bearings IncorporatedcustomerMay 15, 2026 ▾
“1 Our largest industrial customers include Caterpillar, Komatsu and Halliburton and various aftermarket distributors including Motion Industries, Applied Industrial, Baldwin Supply, BDI and Purvis Industries.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 11 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
BWIN is currently a Leader in the organic co-movement group Insurance Brokers. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for BWIN; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.