Baldwin Insurance (BWIN) Operating Expenses (2018 - 2026)
Baldwin Insurance (BWIN) posted quarterly Operating Expenses of $501.3 million for Q2 2026, up 42.87% year-over-year from $350.9 million in Q2 2025, and down 20.87% quarter-over-quarter from $633.5 million in Q1 2026.
Baldwin Insurance (BWIN) Operating Expenses (2018 - 2026) Analysis & Trends
Baldwin Insurance (BWIN) has reported Operating Expenses for 9 consecutive years, with $501.3 million the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Expenses rose 42.87% year-over-year to $501.3 million; the TTM figure through Jun 2026 stood at $1.9 billion (up 35.86% YoY), while the FY2025 annual figure was $1.4 billion, up 7.72% from the prior year.
- Operating Expenses declined to $501.3 million in Q2 2026 per BWIN's latest filing, from $633.5 million in the prior quarter.
- Across five years, Operating Expenses topped out at $633.5 million in Q1 2026 and bottomed at $203.1 million in Q1 2022.
- Historically, Operating Expenses has averaged $342.6 million across 5 years, with a median of $325.2 million in 2023.
- Annual changes were most pronounced in 2022 — Operating Expenses surged 89.36% — and 2023, when it climbed 0.61%.
- Baldwin Insurance's Operating Expenses stood at $312.5 million in 2022, then advanced by 0.61% to $314.4 million in 2023, then advanced by 6.68% to $335.4 million in 2024, then rose by 7.5% to $360.5 million in 2025, then soared by 39.05% to $501.3 million in 2026.
- Business Quant data shows BWIN's Operating Expenses at $501.3 million in Q2 2026, $633.5 million in Q1 2026, and $360.5 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | XChange TEC.INC | 279.91 Bn | 279.90 Bn | - | - |
| 2 | Marsh & Mclennan Companies | 91.40 Bn | 79.19 Bn | 6.04 Bn | 5.51 Bn |
| 3 | Aon | 75.07 Bn | 73.80 Bn | - | 3.33 Bn |
| 4 | Arthur J. Gallagher | 66.45 Bn | 65.07 Bn | - | 3.59 Bn |
| 5 | Willis Towers Watson | 32.02 Bn | 30.36 Bn | 2.09 Bn | 2.10 Bn |
| 6 | Brown & Brown | 23.72 Bn | 22.80 Bn | 1.41 Bn | 1.29 Bn |
| 7 | Erie Indemnity | 12.11 Bn | 11.77 Bn | - | 885.67 Mn |
| 8 | Neptune Insurance Holdings | 4.50 Bn | 4.48 Bn | - | 29.32 Mn |
| 9 | Accelerant Holdings | 4.28 Bn | 2.62 Bn | 285.20 Mn | 269.50 Mn |
| 10 | Baldwin Insurance | 2.90 Bn | 2.72 Bn | - | 501.28 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 501.28 Mn |
| Mar 31, 2026 | 633.50 Mn |
| Dec 31, 2025 | 360.52 Mn |
| Sep 30, 2025 | 362.17 Mn |
| Jun 30, 2025 | 56.12 Mn |
| Mar 31, 2025 | 357.39 Mn |
| Dec 31, 2024 | 1.19 Bn |
| Sep 30, 2024 | 323.53 Mn |
| Jun 30, 2024 | 46.56 Mn |
| Mar 31, 2024 | 346.11 Mn |
| Dec 31, 2023 | 49.01 Mn |
| Sep 30, 2023 | 47.17 Mn |
| Jun 30, 2023 | 313.72 Mn |
| Mar 31, 2023 | 46.60 Mn |
| Dec 31, 2022 | 49.28 Mn |
| Sep 30, 2022 | 289.22 Mn |
| Jun 30, 2022 | 40.77 Mn |
| Mar 31, 2022 | 203.11 Mn |
| Dec 31, 2021 | 197.06 Mn |
| Sep 30, 2021 | 152.74 Mn |