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Side-by-side financial comparison of ACADIA PHARMACEUTICALS INC (ACAD) and Baldwin Insurance Group, Inc. (BWIN). Click either name above to swap in a different company.
Baldwin Insurance Group, Inc. is the larger business by last-quarter revenue ($347.3M vs $284.0M, roughly 1.2× ACADIA PHARMACEUTICALS INC). ACADIA PHARMACEUTICALS INC runs the higher net margin — 96.3% vs -7.5%, a 103.8% gap on every dollar of revenue. On growth, ACADIA PHARMACEUTICALS INC posted the faster year-over-year revenue change (9.4% vs 5.3%). Over the past eight quarters, ACADIA PHARMACEUTICALS INC's revenue compounded faster (17.5% CAGR vs -4.4%).
Acadia Pharmaceuticals Inc. is a biopharmaceutical company headquartered in Del Mar, San Diego, California.
The Baldwin Piano Company is an American piano brand. It was once the largest US-based manufacturer of keyboard instruments and was known by the slogan, "America's Favorite Piano". Since 2001, it has been a subsidiary of Gibson Brands, Inc. Baldwin ceased domestic production in December 2008, moving its piano manufacturing to China.
ACAD vs BWIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $284.0M | $347.3M |
| Net Profit | $273.6M | $-25.9M |
| Gross Margin | 90.8% | — |
| Operating Margin | 6.1% | -3.8% |
| Net Margin | 96.3% | -7.5% |
| Revenue YoY | 9.4% | 5.3% |
| Net Profit YoY | 90.3% | -28.3% |
| EPS (diluted) | $1.61 | $-0.38 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $284.0M | $347.3M | ||
| Q3 25 | $278.6M | $365.4M | ||
| Q2 25 | $264.6M | $378.8M | ||
| Q1 25 | $244.3M | $413.4M | ||
| Q4 24 | $259.6M | $329.9M | ||
| Q3 24 | $250.4M | $338.9M | ||
| Q2 24 | $242.0M | $339.8M | ||
| Q1 24 | $205.8M | $380.4M |
| Q4 25 | $273.6M | $-25.9M | ||
| Q3 25 | $71.8M | $-18.7M | ||
| Q2 25 | $26.7M | $-3.2M | ||
| Q1 25 | $19.0M | $13.9M | ||
| Q4 24 | $143.7M | $-20.2M | ||
| Q3 24 | $32.8M | $-8.4M | ||
| Q2 24 | $33.4M | $-17.6M | ||
| Q1 24 | $16.6M | $21.6M |
| Q4 25 | 90.8% | — | ||
| Q3 25 | 92.2% | — | ||
| Q2 25 | 92.2% | — | ||
| Q1 25 | 91.7% | — | ||
| Q4 24 | 91.6% | — | ||
| Q3 24 | 92.5% | — | ||
| Q2 24 | 92.5% | — | ||
| Q1 24 | 88.8% | — |
| Q4 25 | 6.1% | -3.8% | ||
| Q3 25 | 12.8% | 0.9% | ||
| Q2 25 | 12.2% | 7.4% | ||
| Q1 25 | 7.9% | 13.6% | ||
| Q4 24 | 59.1% | -1.7% | ||
| Q3 24 | 12.6% | 4.5% | ||
| Q2 24 | 12.6% | 4.8% | ||
| Q1 24 | 7.4% | 9.0% |
| Q4 25 | 96.3% | -7.5% | ||
| Q3 25 | 25.8% | -5.1% | ||
| Q2 25 | 10.1% | -0.8% | ||
| Q1 25 | 7.8% | 3.4% | ||
| Q4 24 | 55.4% | -6.2% | ||
| Q3 24 | 13.1% | -2.5% | ||
| Q2 24 | 13.8% | -5.2% | ||
| Q1 24 | 8.0% | 5.7% |
| Q4 25 | $1.61 | $-0.38 | ||
| Q3 25 | $0.42 | $-0.27 | ||
| Q2 25 | $0.16 | $-0.05 | ||
| Q1 25 | $0.11 | $0.20 | ||
| Q4 24 | $0.86 | $-0.31 | ||
| Q3 24 | $0.20 | $-0.13 | ||
| Q2 24 | $0.20 | $-0.28 | ||
| Q1 24 | $0.10 | $0.33 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $177.7M | $123.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $600.2M |
| Total Assets | $1.6B | $3.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $177.7M | $123.7M | ||
| Q3 25 | $258.0M | $89.7M | ||
| Q2 25 | $253.6M | $105.7M | ||
| Q1 25 | $217.7M | $81.8M | ||
| Q4 24 | $319.6M | $90.0M | ||
| Q3 24 | $155.1M | $181.8M | ||
| Q2 24 | $177.1M | $208.3M | ||
| Q1 24 | $204.7M | $112.1M |
| Q4 25 | $1.2B | $600.2M | ||
| Q3 25 | $917.3M | $619.7M | ||
| Q2 25 | $822.4M | $630.8M | ||
| Q1 25 | $765.2M | $619.6M | ||
| Q4 24 | $732.8M | $583.2M | ||
| Q3 24 | $577.2M | $595.4M | ||
| Q2 24 | $516.7M | $590.9M | ||
| Q1 24 | $464.0M | $597.9M |
| Q4 25 | $1.6B | $3.9B | ||
| Q3 25 | $1.3B | $3.8B | ||
| Q2 25 | $1.2B | $3.7B | ||
| Q1 25 | $1.1B | $3.5B | ||
| Q4 24 | $1.2B | $3.5B | ||
| Q3 24 | $976.9M | $3.5B | ||
| Q2 24 | $914.1M | $3.7B | ||
| Q1 24 | $855.1M | $3.5B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-48.7M | $-29.4M |
| Free Cash FlowOCF − Capex | — | $-68.9M |
| FCF MarginFCF / Revenue | — | -19.9% |
| Capex IntensityCapex / Revenue | — | 11.4% |
| Cash ConversionOCF / Net Profit | -0.18× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-137.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-48.7M | $-29.4M | ||
| Q3 25 | $74.3M | $41.0M | ||
| Q2 25 | $64.0M | $-16.7M | ||
| Q1 25 | $20.3M | $-64.0M | ||
| Q4 24 | $40.4M | $51.5M | ||
| Q3 24 | $63.2M | $32.4M | ||
| Q2 24 | $25.0M | $18.3M | ||
| Q1 24 | $29.1M | $3.0M |
| Q4 25 | — | $-68.9M | ||
| Q3 25 | $73.9M | $32.2M | ||
| Q2 25 | — | $-28.1M | ||
| Q1 25 | — | $-72.9M | ||
| Q4 24 | — | $10.4M | ||
| Q3 24 | $63.2M | $22.2M | ||
| Q2 24 | — | $7.8M | ||
| Q1 24 | — | $-5.1M |
| Q4 25 | — | -19.9% | ||
| Q3 25 | 26.5% | 8.8% | ||
| Q2 25 | — | -7.4% | ||
| Q1 25 | — | -17.6% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | 25.2% | 6.6% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | -1.4% |
| Q4 25 | — | 11.4% | ||
| Q3 25 | 0.1% | 2.4% | ||
| Q2 25 | — | 3.0% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 12.4% | ||
| Q3 24 | 0.0% | 3.0% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 2.1% |
| Q4 25 | -0.18× | — | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 2.40× | — | ||
| Q1 25 | 1.07× | -4.59× | ||
| Q4 24 | 0.28× | — | ||
| Q3 24 | 1.93× | — | ||
| Q2 24 | 0.75× | — | ||
| Q1 24 | 1.76× | 0.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ACAD
| Nuplazid | $174.4M | 61% |
| Daybue | $109.6M | 39% |
BWIN
| Insurance Advisory Solutions | $157.9M | 45% |
| Underwriting Capacity Technology Solutions | $129.5M | 37% |
| Consultingand Service Fee Revenue | $20.9M | 6% |
| Policy Feeand Installment Fee Revenue | $20.4M | 6% |
| Other | $7.3M | 2% |
| Earned Premium | $6.9M | 2% |
| Other Insurance Product Line | $4.4M | 1% |
