BWIN vs WTW Stock Comparison

Baldwin Insurance and Willis Towers Watson Prices as of Oct 23, 2026 Peers: Industry group
WTW Willis Towers Watson Plc
$325.01 +8.7% 1M -1.9% 1Y
Market cap
$30.51B
P/E
19.5x
Revenue (TTM)
$10.10B
Div. yield
0.01%
Insurance Brokers Financial Services
7 wins

Head to Head

10 decided of 12

Willis Towers Watson leads on 7 of the 12 questions below (Willis Towers Watson 7, Baldwin Insurance 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionBWINWTWLeader
Larger companyMarket capitalisation $2.97B $30.51B WTW
Cheaper on earningsLower P/E, profitable companies only -36.5x 19.5x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 14.9x 15.9x BWIN
Faster revenue growthRevenue growth, trailing twelve months +7.6% +3.0% BWIN
More profitableNet margin, trailing twelve months -611.2% 15.5% WTW
Better return on capitalReturn on invested capital -1.5% 12.5% WTW
Less leveragedLower net debt / EBITDA 28.2x 1.8x WTW
Higher dividend yieldTrailing dividend yield 0.00% 0.01% –
Better 1-year returnPrice return, last 12 months +30.9% -1.9% BWIN
Better 5-year returnAnnualised price return, 5 years -3.7%/yr +5.6%/yr WTW
Less volatileAnnualised volatility, 1 year 58.9% 31.8% WTW
Higher overall scoreMean of the five percentile scores vs peers 17/100 45/100 WTW

Percentile Scorecard

BWINWTW

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisBWINWTW
Valuation 3 #116 of 119 17 #99 of 119
Growth 35 #77 of 117 72 #33 of 117
Profitability 9 #107 of 117 76 #29 of 117
Financial Health 4 #113 of 118 24 #90 of 118
Shareholder Returns 37 #68 of 108 36 #70 of 108
Overall 17 45
  • BWIN ranked among 126 companies in Insurance
  • WTW ranked among 126 companies in Insurance

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodBWINWTWSPY
1 month +0.3%+8.7% -1.0%
3 months +20.7%+10.1% +2.9%
6 months +27.2%+13.0% +6.4%
Year to date +33.0%-1.1% +11.4%
1 year +30.9%-1.9% +13.1%
3 years +50.5%+56.3% +79.4%
3 years, per year +14.6%+16.1% +21.5%
5 years -17.2%+31.2% +67.7%
5 years, per year -3.7%+5.6% +10.9%
10 years —+156.3% +255.2%
10 years, per year —+9.9% +13.5%

Risk

MeasureBWINWTWSPY
Volatility, 1Y 58.9%31.8% 12.7%
Downside volatility, 1Y 50.6%33.4% 12.7%
Beta vs S&P 500, 1Y -0.03-0.18 1.00
Return / volatility, 1Y 0.52-0.06 1.03
Max drawdown, 5Y -70.2%-30.8% -25.4%
From 52-week high -0.1%-7.3% -2.5%
52-week high $32.00$350.75 $779.14
52-week low $16.50$242.12 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleBWINWTW
P/E now vs peer median -36.5xmedian 10.5x 19.5xmedian 10.5x
P/S now vs peer median 335.2xmedian 1.4x 3.0xmedian 1.4x
EV/EBITDA now vs peer median 83.6xmedian 8.0x 13.1xmedian 8.0x
P/FCF now vs peer median 102.0xmedian 8.4x 17.9xmedian 8.4x
P/B now vs peer median 3.1xmedian 1.5x 3.9xmedian 1.5x
PEG now vs peer median -1.65median 0.47 1.06median 0.47

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsBWINWTW
Revenue $13.29M $10.10B
Operating income -$119.63M $2.25B
Net income -$127.55M $1.58B
Free cash flow $43.71M $1.69B
EPS (diluted) $-0.88 $16.65
Cash & equivalents $184.50M $1.63B
Total debt $8.10B $24.45B
Shares (diluted) 92.76M 94.00M
Enterprise value $2.42B $21.92B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricBWINWTW
P/E -36.5x 19.5x
P/FCF 102.0x 17.9x
P/Operating cash flow 49.1x 15.7x
P/S 335.2x 3.0x
P/B 3.1x 3.9x
P/Tangible book -154.4x 4.8x
EV/EBITDA 83.6x 13.1x
EV/EBIT -56.2x 15.6x
EV/Revenue 505.9x 3.5x
EV/FCF 153.9x 20.8x
EV/Operating cash flow 74.1x 18.2x
PEG (3Y EPS CAGR) -1.65 1.06

Growth

14 metrics
MetricBWINWTW
Revenue growth (1Y) 7.6% 3.0%
Revenue CAGR (3Y) -76.2% 3.6%
Gross profit growth (1Y) – –
Gross profit CAGR (3Y) – –
Operating income growth (1Y) -227.4% 140.2%
Operating income CAGR (3Y) -3.1% 20.3%
Net income growth (1Y) -331.5% 972.1%
Net income CAGR (3Y) 15.0% 13.2%
EPS growth (1Y) -235.3% 1,115%
EPS CAGR (3Y) 22.1% 18.3%
Operating cash flow growth (1Y) 279.4% 36.7%
Operating cash flow CAGR (3Y) 34.1% 25.0%
Free cash flow growth (1Y) 146.9% 43.3%
Free cash flow CAGR (3Y) 36.2% 26.9%

Profitability

14 metrics
MetricBWINWTW
Gross margin – –
EBITDA margin 605.3% 26.4%
Operating margin -900.0% 22.2%
Pretax margin -2,082% 19.8%
Net margin -611.2% 15.5%
FCF margin 328.8% 16.7%
Operating cash flow margin 682.9% 19.0%
Return on equity -8.9% 19.9%
Return on assets -2.2% 5.2%
Return on invested capital -1.5% 12.5%
Return on capital employed -2.8% 15.1%
Asset turnover 0.0x 0.3x
Cash conversion (OCF / net income) -0.7x 1.2x
Stock comp / revenue 563.3% 1.9%

Financial Health

11 metrics
MetricBWINWTW
Debt / assets 39.7% 21.4%
Debt / equity 1.7x 0.8x
Net debt / EBITDA 28.2x 1.8x
Debt / FCF 56.1x 3.9x
Liabilities / assets 77.0% 74.6%
Equity / assets 23.0% 25.4%
Interest coverage – 7.9x
Current ratio 1.1x 1.1x
Quick ratio 0.6x 0.3x
Cash ratio 0.1x 0.1x
Altman Z-score 0.44 1.39

Shareholder Returns

7 metrics
MetricBWINWTW
Dividend yield – 1.2%
Net buyback yield 2.8% 5.6%
Shareholder yield 2.8% 6.8%
Payout ratio (earnings) – 22.7%
Payout ratio (FCF) – 21.1%
Dividend growth (1Y) – 0.0%
Dividend CAGR (3Y) – 0.0%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusBWINWTW
Forward P/E 14.9xFY2026 15.9xFY2026
EPS, next fiscal year $2.14FY2026 $20.42FY2026
EPS growth, next FY +28.1%FY2026 +19.6%FY2026
EPS growth, the year after +20.6% +8.1%
Revenue, next fiscal year $2.08BFY2026 $10.10BFY2026
Revenue growth, next FY +38.8%FY2026 +4.1%FY2026
Revenue growth, the year after +1.6% +16.0%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersBWINWTW
Held by institutions 64.5% 97.1%
Institutions holding 229 692
Change in shares held, QoQ +0.2% +0.8%
Institutions buying 112 314
Institutions selling 76 280
Buyers to sellers 1.47 1.12

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

BWINWTW
BWIN 1.00 0.35
WTW 0.35 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, BWIN and WTW?

Willis Towers Watson (WTW) is the largest by market capitalisation: Baldwin Insurance (BWIN) $2.97B, Willis Towers Watson (WTW) $30.51B.

Which company is growing faster?

Baldwin Insurance (BWIN) grew revenue fastest over the trailing twelve months: Baldwin Insurance (BWIN) +7.6%, Willis Towers Watson (WTW) +3.0%.

Which company is more profitable?

Willis Towers Watson (WTW) has the highest net margin (Baldwin Insurance (BWIN) -611.2%, Willis Towers Watson (WTW) 15.5%). On return on invested capital, Willis Towers Watson (WTW) leads (Baldwin Insurance (BWIN) -1.5%, Willis Towers Watson (WTW) 12.5%).

Which stock has performed better?

Over the past year Baldwin Insurance (BWIN) returned the most: Baldwin Insurance (BWIN) +30.9%, Willis Towers Watson (WTW) -1.9%. Over five years, Willis Towers Watson (WTW) compounded fastest (Baldwin Insurance (BWIN) -3.7%/yr, Willis Towers Watson (WTW) +5.6%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Baldwin Insurance (BWIN) 0.00%, Willis Towers Watson (WTW) 0.01%. Baldwin Insurance (BWIN) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Willis Towers Watson (WTW) has been the steadiest (Baldwin Insurance (BWIN) 58.9%, Willis Towers Watson (WTW) 31.8%). Volatility measures how widely the price swings, not the risk of the business.

Do BWIN and WTW move together?

Their daily returns over the past year have a correlation of 0.35, a weak relationship. Holding both diversifies more than two closely linked stocks would.

Which is the better stock, BWIN and WTW?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Willis Towers Watson (WTW) leads on 7. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.