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Side-by-side financial comparison of Baldwin Insurance Group, Inc. (BWIN) and Dynatrace, Inc. (DT). Click either name above to swap in a different company.
Dynatrace, Inc. is the larger business by last-quarter revenue ($515.5M vs $347.3M, roughly 1.5× Baldwin Insurance Group, Inc.). Dynatrace, Inc. runs the higher net margin — 7.8% vs -7.5%, a 15.3% gap on every dollar of revenue. On growth, Dynatrace, Inc. posted the faster year-over-year revenue change (18.2% vs 5.3%). Dynatrace, Inc. produced more free cash flow last quarter ($27.2M vs $-68.9M). Over the past eight quarters, Dynatrace, Inc.'s revenue compounded faster (16.3% CAGR vs -4.4%).
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.
Dynatrace, Inc. is an American multinational technology company that provides an AI-powered observability platform. Their software is used to monitor, analyze, and optimize application performance, software development, cyber security practices, IT infrastructure, and user experience.
BWIN vs DT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $347.3M | $515.5M |
| Net Profit | $-25.9M | $40.1M |
| Gross Margin | — | 81.4% |
| Operating Margin | -3.8% | 14.1% |
| Net Margin | -7.5% | 7.8% |
| Revenue YoY | 5.3% | 18.2% |
| Net Profit YoY | -28.3% | -88.9% |
| EPS (diluted) | $-0.38 | $0.13 |
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 | $347.3M | $515.5M | ||
| Q3 25 | $365.4M | $493.8M | ||
| Q2 25 | $378.8M | $477.3M | ||
| Q1 25 | $413.4M | $445.2M | ||
| Q4 24 | $329.9M | $436.2M | ||
| Q3 24 | $338.9M | $418.1M | ||
| Q2 24 | $339.8M | $399.2M | ||
| Q1 24 | $380.4M | $380.8M |
| Q4 25 | $-25.9M | $40.1M | ||
| Q3 25 | $-18.7M | $57.2M | ||
| Q2 25 | $-3.2M | $48.0M | ||
| Q1 25 | $13.9M | $39.3M | ||
| Q4 24 | $-20.2M | $361.8M | ||
| Q3 24 | $-8.4M | $44.0M | ||
| Q2 24 | $-17.6M | $38.6M | ||
| Q1 24 | $21.6M | $37.9M |
| Q4 25 | — | 81.4% | ||
| Q3 25 | — | 81.8% | ||
| Q2 25 | — | 82.1% | ||
| Q1 25 | — | 80.9% | ||
| Q4 24 | — | 81.1% | ||
| Q3 24 | — | 81.4% | ||
| Q2 24 | — | 81.3% | ||
| Q1 24 | — | 81.1% |
| Q4 25 | -3.8% | 14.1% | ||
| Q3 25 | 0.9% | 14.8% | ||
| Q2 25 | 7.4% | 13.1% | ||
| Q1 25 | 13.6% | 9.6% | ||
| Q4 24 | -1.7% | 10.9% | ||
| Q3 24 | 4.5% | 11.2% | ||
| Q2 24 | 4.8% | 10.5% | ||
| Q1 24 | 9.0% | 6.1% |
| Q4 25 | -7.5% | 7.8% | ||
| Q3 25 | -5.1% | 11.6% | ||
| Q2 25 | -0.8% | 10.0% | ||
| Q1 25 | 3.4% | 8.8% | ||
| Q4 24 | -6.2% | 82.9% | ||
| Q3 24 | -2.5% | 10.5% | ||
| Q2 24 | -5.2% | 9.7% | ||
| Q1 24 | 5.7% | 10.0% |
| Q4 25 | $-0.38 | $0.13 | ||
| Q3 25 | $-0.27 | $0.19 | ||
| Q2 25 | $-0.05 | $0.16 | ||
| Q1 25 | $0.20 | $0.12 | ||
| Q4 24 | $-0.31 | $1.19 | ||
| Q3 24 | $-0.13 | $0.15 | ||
| Q2 24 | $-0.28 | $0.13 | ||
| Q1 24 | $0.33 | $0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $123.7M | $1.2B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $600.2M | $2.7B |
| Total Assets | $3.9B | $4.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $123.7M | $1.2B | ||
| Q3 25 | $89.7M | $1.3B | ||
| Q2 25 | $105.7M | $1.3B | ||
| Q1 25 | $81.8M | $1.1B | ||
| Q4 24 | $90.0M | $1.0B | ||
| Q3 24 | $181.8M | $1.0B | ||
| Q2 24 | $208.3M | $1.0B | ||
| Q1 24 | $112.1M | $836.9M |
| Q4 25 | $600.2M | $2.7B | ||
| Q3 25 | $619.7M | $2.8B | ||
| Q2 25 | $630.8M | $2.7B | ||
| Q1 25 | $619.6M | $2.6B | ||
| Q4 24 | $583.2M | $2.6B | ||
| Q3 24 | $595.4M | $2.1B | ||
| Q2 24 | $590.9M | $2.1B | ||
| Q1 24 | $597.9M | $2.0B |
| Q4 25 | $3.9B | $4.1B | ||
| Q3 25 | $3.8B | $4.1B | ||
| Q2 25 | $3.7B | $4.1B | ||
| Q1 25 | $3.5B | $4.1B | ||
| Q4 24 | $3.5B | $3.7B | ||
| Q3 24 | $3.5B | $3.3B | ||
| Q2 24 | $3.7B | $3.3B | ||
| Q1 24 | $3.5B | $3.4B |
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 | $-29.4M | $33.8M |
| Free Cash FlowOCF − Capex | $-68.9M | $27.2M |
| FCF MarginFCF / Revenue | -19.9% | 5.3% |
| Capex IntensityCapex / Revenue | 11.4% | 1.3% |
| Cash ConversionOCF / Net Profit | — | 0.84× |
| TTM Free Cash FlowTrailing 4 quarters | $-137.8M | $465.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-29.4M | $33.8M | ||
| Q3 25 | $41.0M | $32.0M | ||
| Q2 25 | $-16.7M | $269.7M | ||
| Q1 25 | $-64.0M | $162.8M | ||
| Q4 24 | $51.5M | $42.2M | ||
| Q3 24 | $32.4M | $23.6M | ||
| Q2 24 | $18.3M | $230.7M | ||
| Q1 24 | $3.0M | $131.7M |
| Q4 25 | $-68.9M | $27.2M | ||
| Q3 25 | $32.2M | $27.8M | ||
| Q2 25 | $-28.1M | $262.2M | ||
| Q1 25 | $-72.9M | $148.2M | ||
| Q4 24 | $10.4M | $37.6M | ||
| Q3 24 | $22.2M | $20.1M | ||
| Q2 24 | $7.8M | $227.4M | ||
| Q1 24 | $-5.1M | $121.9M |
| Q4 25 | -19.9% | 5.3% | ||
| Q3 25 | 8.8% | 5.6% | ||
| Q2 25 | -7.4% | 54.9% | ||
| Q1 25 | -17.6% | 33.3% | ||
| Q4 24 | 3.2% | 8.6% | ||
| Q3 24 | 6.6% | 4.8% | ||
| Q2 24 | 2.3% | 57.0% | ||
| Q1 24 | -1.4% | 32.0% |
| Q4 25 | 11.4% | 1.3% | ||
| Q3 25 | 2.4% | 0.8% | ||
| Q2 25 | 3.0% | 1.6% | ||
| Q1 25 | 2.2% | 3.3% | ||
| Q4 24 | 12.4% | 1.1% | ||
| Q3 24 | 3.0% | 0.8% | ||
| Q2 24 | 3.1% | 0.8% | ||
| Q1 24 | 2.1% | 2.6% |
| Q4 25 | — | 0.84× | ||
| Q3 25 | — | 0.56× | ||
| Q2 25 | — | 5.62× | ||
| Q1 25 | -4.59× | 4.14× | ||
| Q4 24 | — | 0.12× | ||
| Q3 24 | — | 0.54× | ||
| Q2 24 | — | 5.97× | ||
| Q1 24 | 0.14× | 3.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
DT
| Subscription And Circulation | $493.4M | 96% |
| Services | $22.1M | 4% |
