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Side-by-side financial comparison of Ascendis Pharma A/S (ASND) 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 $267.3M, roughly 1.3× Ascendis Pharma A/S). On growth, Ascendis Pharma A/S posted the faster year-over-year revenue change (42.3% vs 5.3%). Over the past eight quarters, Ascendis Pharma A/S's revenue compounded faster (60.7% CAGR vs -4.4%).
Ascendis Pharma A/SASNDEarnings & Financial Report
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ASND vs BWIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $267.3M | $347.3M |
| Net Profit | — | $-25.9M |
| Gross Margin | 90.5% | — |
| Operating Margin | — | -3.8% |
| Net Margin | — | -7.5% |
| Revenue YoY | 42.3% | 5.3% |
| Net Profit YoY | — | -28.3% |
| EPS (diluted) | — | $-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 | $267.3M | $347.3M | ||
| Q3 25 | $230.7M | $365.4M | ||
| Q2 25 | $170.7M | $378.8M | ||
| Q1 25 | $109.0M | $413.4M | ||
| Q4 24 | $187.8M | $329.9M | ||
| Q3 24 | $62.5M | $338.9M | ||
| Q2 24 | $38.9M | $339.8M | ||
| Q1 24 | $103.6M | $380.4M |
| Q4 25 | — | $-25.9M | ||
| Q3 25 | $-65.9M | $-18.7M | ||
| Q2 25 | $-42.0M | $-3.2M | ||
| Q1 25 | $-102.2M | $13.9M | ||
| Q4 24 | — | $-20.2M | ||
| Q3 24 | $-107.1M | $-8.4M | ||
| Q2 24 | $-118.1M | $-17.6M | ||
| Q1 24 | $-141.5M | $21.6M |
| Q4 25 | 90.5% | — | ||
| Q3 25 | 89.5% | — | ||
| Q2 25 | 80.1% | — | ||
| Q1 25 | 82.6% | — | ||
| Q4 24 | 91.9% | — | ||
| Q3 24 | 80.6% | — | ||
| Q2 24 | 68.2% | — | ||
| Q1 24 | 92.1% | — |
| Q4 25 | — | -3.8% | ||
| Q3 25 | 5.1% | 0.9% | ||
| Q2 25 | -33.5% | 7.4% | ||
| Q1 25 | -103.2% | 13.6% | ||
| Q4 24 | — | -1.7% | ||
| Q3 24 | -167.3% | 4.5% | ||
| Q2 24 | -370.2% | 4.8% | ||
| Q1 24 | -51.2% | 9.0% |
| Q4 25 | — | -7.5% | ||
| Q3 25 | -28.5% | -5.1% | ||
| Q2 25 | -24.6% | -0.8% | ||
| Q1 25 | -93.7% | 3.4% | ||
| Q4 24 | — | -6.2% | ||
| Q3 24 | -171.5% | -2.5% | ||
| Q2 24 | -303.9% | -5.2% | ||
| Q1 24 | -136.6% | 5.7% |
| Q4 25 | — | $-0.38 | ||
| Q3 25 | — | $-0.27 | ||
| Q2 25 | — | $-0.05 | ||
| Q1 25 | — | $0.20 | ||
| Q4 24 | — | $-0.31 | ||
| Q3 24 | — | $-0.13 | ||
| Q2 24 | — | $-0.28 | ||
| Q1 24 | — | $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 | $665.3M | $123.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-175.8M | $600.2M |
| Total Assets | $1.4B | $3.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $665.3M | $123.7M | ||
| Q3 25 | $582.2M | $89.7M | ||
| Q2 25 | $533.6M | $105.7M | ||
| Q1 25 | $559.4M | $81.8M | ||
| Q4 24 | $604.3M | $90.0M | ||
| Q3 24 | $675.6M | $181.8M | ||
| Q2 24 | $279.4M | $208.3M | ||
| Q1 24 | $345.9M | $112.1M |
| Q4 25 | $-175.8M | $600.2M | ||
| Q3 25 | $-188.0M | $619.7M | ||
| Q2 25 | $-202.6M | $630.8M | ||
| Q1 25 | $-205.0M | $619.6M | ||
| Q4 24 | $-114.2M | $583.2M | ||
| Q3 24 | $-105.1M | $595.4M | ||
| Q2 24 | $-346.8M | $590.9M | ||
| Q1 24 | $-257.2M | $597.9M |
| Q4 25 | $1.4B | $3.9B | ||
| Q3 25 | $1.2B | $3.8B | ||
| Q2 25 | $1.2B | $3.7B | ||
| Q1 25 | $1.1B | $3.5B | ||
| Q4 24 | $1.3B | $3.5B | ||
| Q3 24 | $1.2B | $3.5B | ||
| Q2 24 | $819.0M | $3.7B | ||
| Q1 24 | $866.7M | $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 | $58.2M | $-29.4M |
| Free Cash FlowOCF − Capex | — | $-68.9M |
| FCF MarginFCF / Revenue | — | -19.9% |
| Capex IntensityCapex / Revenue | — | 11.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-137.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $58.2M | $-29.4M | ||
| Q3 25 | — | $41.0M | ||
| Q2 25 | — | $-16.7M | ||
| Q1 25 | $-15.5M | $-64.0M | ||
| Q4 24 | $-330.7M | $51.5M | ||
| Q3 24 | — | $32.4M | ||
| Q2 24 | — | $18.3M | ||
| Q1 24 | $-109.7M | $3.0M |
| Q4 25 | — | $-68.9M | ||
| Q3 25 | — | $32.2M | ||
| Q2 25 | — | $-28.1M | ||
| Q1 25 | — | $-72.9M | ||
| Q4 24 | — | $10.4M | ||
| Q3 24 | — | $22.2M | ||
| Q2 24 | — | $7.8M | ||
| Q1 24 | — | $-5.1M |
| Q4 25 | — | -19.9% | ||
| Q3 25 | — | 8.8% | ||
| Q2 25 | — | -7.4% | ||
| Q1 25 | — | -17.6% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 6.6% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | -1.4% |
| Q4 25 | — | 11.4% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | — | 3.0% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 12.4% | ||
| Q3 24 | — | 3.0% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 2.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -4.59× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ASND
Segment breakdown not available.
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% |
