Baldwin Insurance Group vs Erie Indemnity
Erie Indemnity is the larger business, with $4.07bn of revenue in fiscal 2025 against $1.50bn for Baldwin Insurance Group (2.7 times as much). Baldwin Insurance Group grew faster (8.3% against 7.2%). Erie Indemnity kept more of each dollar of sales as profit: a net margin of 13.8% against -2.2%.
| Latest fiscal year | Baldwin Insurance GroupBWIN, 2025 | Erie IndemnityERIE, 2025 |
|---|---|---|
| Revenue | $1.50bn | $4.07bn |
| Revenue growth | 8.3% | 7.2% |
| Net income | −$33.8m | $559m |
| Operating margin | — | 17.6% |
| Net margin | -2.2% | 13.8% |
| Return on equity | -5.7% | 26.2% |
| Free cash flow | −$68.9m | $571m |
| Cash | $124m | $346m |
| Total debt | $1.60bn | $0 |
| Debt to equity | — | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | 2.1% |
| Share buybacks | — | — |
| Employees | 5,000 | 6,667 |
| Market value | $2.96bn | $12.65bn |
| Price vs our value range | — | Within our value range |
| Moat score | — | — |
| Insider trades, 12 months | 2 buys, 12 sales | 3 buys, 1 sales |