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Side-by-side financial comparison of Allegiant Travel CO (ALGT) and Baldwin Insurance Group, Inc. (BWIN). Click either name above to swap in a different company.
Allegiant Travel CO is the larger business by last-quarter revenue ($595.5M vs $347.3M, roughly 1.7× Baldwin Insurance Group, Inc.). Allegiant Travel CO runs the higher net margin — 5.4% vs -7.5%, a 12.9% gap on every dollar of revenue. On growth, Allegiant Travel CO posted the faster year-over-year revenue change (7.6% vs 5.3%). Allegiant Travel CO produced more free cash flow last quarter ($90.4M vs $-68.9M). Over the past eight quarters, Allegiant Travel CO's revenue compounded faster (1.3% CAGR vs -4.4%).
Allegiant Air, styled as allegiant, is an American low-cost airline headquartered in Las Vegas, Nevada. The airline focuses on serving leisure traffic from small and medium-sized cities which it considers to be underserved, using an ultra low-cost business model with minimal inclusions in fares and a greater number of add-on fees.
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.
ALGT vs BWIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $595.5M | $347.3M |
| Net Profit | $31.9M | $-25.9M |
| Gross Margin | — | — |
| Operating Margin | 11.2% | -3.8% |
| Net Margin | 5.4% | -7.5% |
| Revenue YoY | 7.6% | 5.3% |
| Net Profit YoY | 114.8% | -28.3% |
| EPS (diluted) | $1.82 | $-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 | $595.5M | $347.3M | ||
| Q3 25 | $494.1M | $365.4M | ||
| Q2 25 | $617.9M | $378.8M | ||
| Q1 25 | $616.8M | $413.4M | ||
| Q4 24 | $553.6M | $329.9M | ||
| Q3 24 | $489.0M | $338.9M | ||
| Q2 24 | $594.5M | $339.8M | ||
| Q1 24 | $579.9M | $380.4M |
| Q4 25 | $31.9M | $-25.9M | ||
| Q3 25 | $-43.6M | $-18.7M | ||
| Q2 25 | $-65.2M | $-3.2M | ||
| Q1 25 | $32.1M | $13.9M | ||
| Q4 24 | $-216.2M | $-20.2M | ||
| Q3 24 | $-36.8M | $-8.4M | ||
| Q2 24 | $13.7M | $-17.6M | ||
| Q1 24 | $-919.0K | $21.6M |
| Q4 25 | 11.2% | -3.8% | ||
| Q3 25 | -5.5% | 0.9% | ||
| Q2 25 | -10.9% | 7.4% | ||
| Q1 25 | 10.5% | 13.6% | ||
| Q4 24 | -47.7% | -1.7% | ||
| Q3 24 | -5.4% | 4.5% | ||
| Q2 24 | 5.9% | 4.8% | ||
| Q1 24 | 2.7% | 9.0% |
| Q4 25 | 5.4% | -7.5% | ||
| Q3 25 | -8.8% | -5.1% | ||
| Q2 25 | -10.5% | -0.8% | ||
| Q1 25 | 5.2% | 3.4% | ||
| Q4 24 | -39.1% | -6.2% | ||
| Q3 24 | -7.5% | -2.5% | ||
| Q2 24 | 2.3% | -5.2% | ||
| Q1 24 | -0.2% | 5.7% |
| Q4 25 | $1.82 | $-0.38 | ||
| Q3 25 | $-2.41 | $-0.27 | ||
| Q2 25 | $-3.62 | $-0.05 | ||
| Q1 25 | $1.73 | $0.20 | ||
| Q4 24 | $-12.12 | $-0.31 | ||
| Q3 24 | $-2.05 | $-0.13 | ||
| Q2 24 | $0.75 | $-0.28 | ||
| Q1 24 | $-0.07 | $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 | $805.7M | $123.7M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $1.1B | $600.2M |
| Total Assets | $4.2B | $3.9B |
| Debt / EquityLower = less leverage | 1.60× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $805.7M | $123.7M | ||
| Q3 25 | $956.7M | $89.7M | ||
| Q2 25 | $842.8M | $105.7M | ||
| Q1 25 | $878.6M | $81.8M | ||
| Q4 24 | $781.1M | $90.0M | ||
| Q3 24 | $759.3M | $181.8M | ||
| Q2 24 | $791.9M | $208.3M | ||
| Q1 24 | $809.9M | $112.1M |
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $1.8B | — |
| Q4 25 | $1.1B | $600.2M | ||
| Q3 25 | $1.0B | $619.7M | ||
| Q2 25 | $1.1B | $630.8M | ||
| Q1 25 | $1.1B | $619.6M | ||
| Q4 24 | $1.1B | $583.2M | ||
| Q3 24 | $1.3B | $595.4M | ||
| Q2 24 | $1.3B | $590.9M | ||
| Q1 24 | $1.3B | $597.9M |
| Q4 25 | $4.2B | $3.9B | ||
| Q3 25 | $4.4B | $3.8B | ||
| Q2 25 | $4.4B | $3.7B | ||
| Q1 25 | $4.5B | $3.5B | ||
| Q4 24 | $4.4B | $3.5B | ||
| Q3 24 | $4.8B | $3.5B | ||
| Q2 24 | $4.9B | $3.7B | ||
| Q1 24 | $4.9B | $3.5B |
| Q4 25 | 1.60× | — | ||
| Q3 25 | 1.76× | — | ||
| Q2 25 | 1.68× | — | ||
| Q1 25 | 1.57× | — | ||
| Q4 24 | 1.48× | — | ||
| Q3 24 | 1.36× | — | ||
| Q2 24 | 1.30× | — | ||
| Q1 24 | 1.35× | — |
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 | $112.2M | $-29.4M |
| Free Cash FlowOCF − Capex | $90.4M | $-68.9M |
| FCF MarginFCF / Revenue | 15.2% | -19.9% |
| Capex IntensityCapex / Revenue | 3.7% | 11.4% |
| Cash ConversionOCF / Net Profit | 3.51× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | $-137.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $112.2M | $-29.4M | ||
| Q3 25 | $-6.1M | $41.0M | ||
| Q2 25 | $92.2M | $-16.7M | ||
| Q1 25 | $191.4M | $-64.0M | ||
| Q4 24 | $84.4M | $51.5M | ||
| Q3 24 | $17.3M | $32.4M | ||
| Q2 24 | $68.9M | $18.3M | ||
| Q1 24 | $167.8M | $3.0M |
| Q4 25 | $90.4M | $-68.9M | ||
| Q3 25 | $-121.7M | $32.2M | ||
| Q2 25 | $-10.5M | $-28.1M | ||
| Q1 25 | $116.9M | $-72.9M | ||
| Q4 24 | $24.0M | $10.4M | ||
| Q3 24 | $-28.7M | $22.2M | ||
| Q2 24 | $7.0M | $7.8M | ||
| Q1 24 | $35.9M | $-5.1M |
| Q4 25 | 15.2% | -19.9% | ||
| Q3 25 | -24.6% | 8.8% | ||
| Q2 25 | -1.7% | -7.4% | ||
| Q1 25 | 19.0% | -17.6% | ||
| Q4 24 | 4.3% | 3.2% | ||
| Q3 24 | -5.9% | 6.6% | ||
| Q2 24 | 1.2% | 2.3% | ||
| Q1 24 | 6.2% | -1.4% |
| Q4 25 | 3.7% | 11.4% | ||
| Q3 25 | 23.4% | 2.4% | ||
| Q2 25 | 16.6% | 3.0% | ||
| Q1 25 | 12.1% | 2.2% | ||
| Q4 24 | 10.9% | 12.4% | ||
| Q3 24 | 9.4% | 3.0% | ||
| Q2 24 | 10.4% | 3.1% | ||
| Q1 24 | 22.7% | 2.1% |
| Q4 25 | 3.51× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 5.96× | -4.59× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.03× | — | ||
| Q1 24 | — | 0.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALGT
| Airrelatedrevenue | $307.1M | 52% |
| Scheduled Service Revenue | $267.1M | 45% |
| Cobrand Revenue | $21.3M | 4% |
| Other | $1.0K | 0% |
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% |
