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Side-by-side financial comparison of Baldwin Insurance Group, Inc. (BWIN) and Grand Canyon Education, Inc. (LOPE). 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 $308.1M, roughly 1.1× Grand Canyon Education, Inc.). Grand Canyon Education, Inc. runs the higher net margin — 28.1% vs -7.5%, a 35.7% gap on every dollar of revenue. On growth, Grand Canyon Education, Inc. posted the faster year-over-year revenue change (5.3% vs 5.3%). Grand Canyon Education, Inc. produced more free cash flow last quarter ($122.9M vs $-68.9M). Over the past eight quarters, Grand Canyon Education, Inc.'s revenue compounded faster (5.9% 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.
Grand Canyon Education, Inc. (GCE) is an American for-profit corporation that provides services to universities, specializing in program development, online education, and operational support. Formerly affiliated with Grand Canyon University (GCU), a Christian university in Arizona, GCE became a separate publicly traded company in 2008.
BWIN vs LOPE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $347.3M | $308.1M |
| Net Profit | $-25.9M | $86.7M |
| Gross Margin | — | — |
| Operating Margin | -3.8% | 35.1% |
| Net Margin | -7.5% | 28.1% |
| Revenue YoY | 5.3% | 5.3% |
| Net Profit YoY | -28.3% | 5.9% |
| EPS (diluted) | $-0.38 | $3.13 |
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 | $308.1M | ||
| Q3 25 | $365.4M | $261.1M | ||
| Q2 25 | $378.8M | $247.5M | ||
| Q1 25 | $413.4M | $289.3M | ||
| Q4 24 | $329.9M | $292.6M | ||
| Q3 24 | $338.9M | $238.3M | ||
| Q2 24 | $339.8M | $227.5M | ||
| Q1 24 | $380.4M | $274.7M |
| Q4 25 | $-25.9M | $86.7M | ||
| Q3 25 | $-18.7M | $16.3M | ||
| Q2 25 | $-3.2M | $41.5M | ||
| Q1 25 | $13.9M | $71.6M | ||
| Q4 24 | $-20.2M | $81.9M | ||
| Q3 24 | $-8.4M | $41.5M | ||
| Q2 24 | $-17.6M | $34.9M | ||
| Q1 24 | $21.6M | $68.0M |
| Q4 25 | -3.8% | 35.1% | ||
| Q3 25 | 0.9% | 6.9% | ||
| Q2 25 | 7.4% | 20.9% | ||
| Q1 25 | 13.6% | 30.4% | ||
| Q4 24 | -1.7% | 34.2% | ||
| Q3 24 | 4.5% | 20.2% | ||
| Q2 24 | 4.8% | 18.8% | ||
| Q1 24 | 9.0% | 30.8% |
| Q4 25 | -7.5% | 28.1% | ||
| Q3 25 | -5.1% | 6.2% | ||
| Q2 25 | -0.8% | 16.8% | ||
| Q1 25 | 3.4% | 24.8% | ||
| Q4 24 | -6.2% | 28.0% | ||
| Q3 24 | -2.5% | 17.4% | ||
| Q2 24 | -5.2% | 15.3% | ||
| Q1 24 | 5.7% | 24.8% |
| Q4 25 | $-0.38 | $3.13 | ||
| Q3 25 | $-0.27 | $0.58 | ||
| Q2 25 | $-0.05 | $1.48 | ||
| Q1 25 | $0.20 | $2.52 | ||
| Q4 24 | $-0.31 | $2.83 | ||
| Q3 24 | $-0.13 | $1.42 | ||
| Q2 24 | $-0.28 | $1.19 | ||
| Q1 24 | $0.33 | $2.29 |
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 | $111.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $600.2M | $746.9M |
| Total Assets | $3.9B | $992.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $123.7M | $111.8M | ||
| Q3 25 | $89.7M | $97.3M | ||
| Q2 25 | $105.7M | $192.3M | ||
| Q1 25 | $81.8M | $144.5M | ||
| Q4 24 | $90.0M | $324.6M | ||
| Q3 24 | $181.8M | $263.6M | ||
| Q2 24 | $208.3M | $241.3M | ||
| Q1 24 | $112.1M | $196.2M |
| Q4 25 | $600.2M | $746.9M | ||
| Q3 25 | $619.7M | $758.0M | ||
| Q2 25 | $630.8M | $778.0M | ||
| Q1 25 | $619.6M | $780.7M | ||
| Q4 24 | $583.2M | $783.9M | ||
| Q3 24 | $595.4M | $764.1M | ||
| Q2 24 | $590.9M | $759.2M | ||
| Q1 24 | $597.9M | $759.4M |
| Q4 25 | $3.9B | $992.3M | ||
| Q3 25 | $3.8B | $1.0B | ||
| Q2 25 | $3.7B | $1.0B | ||
| Q1 25 | $3.5B | $1.0B | ||
| Q4 24 | $3.5B | $1.0B | ||
| Q3 24 | $3.5B | $992.9M | ||
| Q2 24 | $3.7B | $992.7M | ||
| Q1 24 | $3.5B | $1.0B |
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 | $130.5M |
| Free Cash FlowOCF − Capex | $-68.9M | $122.9M |
| FCF MarginFCF / Revenue | -19.9% | 39.9% |
| Capex IntensityCapex / Revenue | 11.4% | 2.5% |
| Cash ConversionOCF / Net Profit | — | 1.50× |
| TTM Free Cash FlowTrailing 4 quarters | $-137.8M | $238.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-29.4M | $130.5M | ||
| Q3 25 | $41.0M | $-48.6M | ||
| Q2 25 | $-16.7M | $124.0M | ||
| Q1 25 | $-64.0M | $67.6M | ||
| Q4 24 | $51.5M | $135.8M | ||
| Q3 24 | $32.4M | $-29.4M | ||
| Q2 24 | $18.3M | $98.6M | ||
| Q1 24 | $3.0M | $85.0M |
| Q4 25 | $-68.9M | $122.9M | ||
| Q3 25 | $32.2M | $-58.3M | ||
| Q2 25 | $-28.1M | $115.4M | ||
| Q1 25 | $-72.9M | $58.7M | ||
| Q4 24 | $10.4M | $126.1M | ||
| Q3 24 | $22.2M | $-39.0M | ||
| Q2 24 | $7.8M | $89.6M | ||
| Q1 24 | $-5.1M | $76.0M |
| Q4 25 | -19.9% | 39.9% | ||
| Q3 25 | 8.8% | -22.3% | ||
| Q2 25 | -7.4% | 46.6% | ||
| Q1 25 | -17.6% | 20.3% | ||
| Q4 24 | 3.2% | 43.1% | ||
| Q3 24 | 6.6% | -16.3% | ||
| Q2 24 | 2.3% | 39.4% | ||
| Q1 24 | -1.4% | 27.7% |
| Q4 25 | 11.4% | 2.5% | ||
| Q3 25 | 2.4% | 3.7% | ||
| Q2 25 | 3.0% | 3.5% | ||
| Q1 25 | 2.2% | 3.1% | ||
| Q4 24 | 12.4% | 3.3% | ||
| Q3 24 | 3.0% | 4.0% | ||
| Q2 24 | 3.1% | 3.9% | ||
| Q1 24 | 2.1% | 3.3% |
| Q4 25 | — | 1.50× | ||
| Q3 25 | — | -2.99× | ||
| Q2 25 | — | 2.98× | ||
| Q1 25 | -4.59× | 0.94× | ||
| Q4 24 | — | 1.66× | ||
| Q3 24 | — | -0.71× | ||
| Q2 24 | — | 2.83× | ||
| Q1 24 | 0.14× | 1.25× |
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% |
LOPE
Segment breakdown not available.
