The Baldwin Insurance Group, Inc.

NasdaqGS:BWIN Stock Report

Market Cap: US$4.7b

Baldwin Insurance Group Valuation

Is BWIN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BWIN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate BWIN's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate BWIN's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BWIN?

Key metric: As BWIN is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BWIN. This is calculated by dividing BWIN's market cap by their current revenue.
What is BWIN's PS Ratio?
PS Ratio2x
SalesUS$1.34b
Market CapUS$4.67b

Price to Sales Ratio vs Peers

How does BWIN's PS Ratio compare to its peers?

The above table shows the PS ratio for BWIN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.9x
GSHD Goosehead Insurance
9.2x24.0%US$3.9b
HGTY Hagerty
0.8x13.5%US$3.6b
RYAN Ryan Specialty Holdings
3.4x18.0%US$16.8b
TWFG TWFG
2.2x16.6%US$1.6b
BWIN Baldwin Insurance Group
2x12.7%US$4.7b

Price-To-Sales vs Peers: BWIN is good value based on its Price-To-Sales Ratio (2x) compared to the peer average (3.9x).

Price to Sales Ratio vs Industry

How does BWIN's PS Ratio compare vs other companies in the US Insurance Industry?

11 CompaniesPrice / SalesEstimated GrowthMarket Cap
GOCO GoHealth
0.2x7.5%US$292.73m
CCG Cheche Group
0.1x5.4%US$64.38m
AIFU AIX
0.2x15.8%US$61.24m
AAME Atlantic American
0.2xn/aUS$30.19m
BWIN 2.0xIndustry Avg. 1.1xNo. of Companies20PS00.81.62.43.24+
11 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BWIN is expensive based on its Price-To-Sales Ratio (2x) compared to the US Insurance industry average (1.1x).

Price to Sales Ratio vs Fair Ratio

What is BWIN's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BWIN PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2x
Fair PS Ratio1.2x

Price-To-Sales vs Fair Ratio: BWIN is expensive based on its Price-To-Sales Ratio (2x) compared to the estimated Fair Price-To-Sales Ratio (1.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BWIN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$39.75
US$50.86
+27.9%
13.4%US$60.00US$41.00n/a7
Dec ’25US$48.96
US$51.00
+4.2%
13.0%US$60.00US$43.00n/a7
Nov ’25US$45.29
US$54.00
+19.2%
10.5%US$60.00US$46.00n/a7
Oct ’25US$49.10
US$45.29
-7.8%
10.3%US$50.00US$38.00n/a7
Sep ’25US$46.89
US$45.29
-3.4%
10.3%US$50.00US$38.00n/a7
Aug ’25US$43.21
US$40.29
-6.8%
10.8%US$46.00US$34.00n/a7
Jul ’25US$36.29
US$36.86
+1.6%
16.4%US$45.00US$28.00n/a7
Jun ’25US$33.68
US$36.00
+6.9%
16.5%US$45.00US$28.00n/a7
May ’25US$27.45
US$34.71
+26.5%
15.2%US$44.00US$28.00n/a7
Apr ’25US$28.55
US$33.00
+15.6%
16.9%US$42.00US$27.00n/a7
Mar ’25US$27.94
US$31.43
+12.5%
15.3%US$42.00US$27.00n/a7
Feb ’25US$22.70
US$30.14
+32.8%
21.0%US$44.00US$24.00n/a7
Jan ’25US$24.02
US$29.86
+24.3%
17.7%US$41.00US$24.00n/a7
Dec ’24US$17.60
US$29.86
+69.6%
17.7%US$41.00US$24.00US$48.967
Nov ’24US$20.98
US$31.00
+47.8%
14.6%US$41.00US$27.00US$45.297
Oct ’24US$23.23
US$31.86
+37.1%
14.6%US$41.00US$27.00US$49.107
Sep ’24US$27.00
US$31.86
+18.0%
14.6%US$41.00US$27.00US$46.897
Aug ’24US$25.18
US$31.71
+26.0%
13.6%US$38.00US$26.00US$43.217
Jul ’24US$24.78
US$33.00
+33.2%
10.7%US$38.00US$27.00US$36.297
Jun ’24US$20.63
US$33.00
+60.0%
10.7%US$38.00US$27.00US$33.687
May ’24US$25.20
US$33.57
+33.2%
9.3%US$38.00US$28.00US$27.457
Apr ’24US$25.46
US$34.14
+34.1%
7.9%US$37.00US$29.00US$28.557
Mar ’24US$27.59
US$34.57
+25.3%
8.3%US$37.00US$29.00US$27.947
Feb ’24US$29.77
US$34.43
+15.6%
9.9%US$38.00US$28.00US$22.707
Jan ’24US$25.14
US$32.86
+30.7%
9.4%US$37.00US$28.00US$24.027
Dec ’23US$30.61
US$32.88
+7.4%
8.8%US$37.00US$28.00US$17.608

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 01:47
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

The Baldwin Insurance Group, Inc. is covered by 10 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Joshua ShankerBofA Global Research
Luke LemoineCapital One Securities, Inc.
Yaron KinarJefferies LLC