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Side-by-side financial comparison of Baldwin Insurance Group, Inc. (BWIN) and Pediatrix Medical Group, Inc. (MD). Click either name above to swap in a different company.
Pediatrix Medical Group, Inc. is the larger business by last-quarter revenue ($493.8M vs $347.3M, roughly 1.4× Baldwin Insurance Group, Inc.). Pediatrix Medical Group, Inc. runs the higher net margin — 6.8% vs -7.5%, a 14.3% gap on every dollar of revenue. On growth, Baldwin Insurance Group, Inc. posted the faster year-over-year revenue change (5.3% vs -1.7%). Over the past eight quarters, Pediatrix Medical Group, Inc.'s revenue compounded faster (-0.1% 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.
Pediatrix Medical Group, Inc. is a leading U.S. specialized medical service provider focusing on maternal-fetal care, neonatology, pediatric cardiology and other pediatric subspecialties. It partners with U.S. healthcare facilities to deliver evidence-based care to women, newborns and children.
BWIN vs MD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $347.3M | $493.8M |
| Net Profit | $-25.9M | $33.7M |
| Gross Margin | — | — |
| Operating Margin | -3.8% | 9.9% |
| Net Margin | -7.5% | 6.8% |
| Revenue YoY | 5.3% | -1.7% |
| Net Profit YoY | -28.3% | 10.5% |
| EPS (diluted) | $-0.38 | $0.40 |
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 | $493.8M | ||
| Q3 25 | $365.4M | $492.9M | ||
| Q2 25 | $378.8M | $468.8M | ||
| Q1 25 | $413.4M | $458.4M | ||
| Q4 24 | $329.9M | $502.4M | ||
| Q3 24 | $338.9M | $511.2M | ||
| Q2 24 | $339.8M | $504.3M | ||
| Q1 24 | $380.4M | $495.1M |
| Q4 25 | $-25.9M | $33.7M | ||
| Q3 25 | $-18.7M | $71.7M | ||
| Q2 25 | $-3.2M | $39.3M | ||
| Q1 25 | $13.9M | $20.7M | ||
| Q4 24 | $-20.2M | $30.5M | ||
| Q3 24 | $-8.4M | $19.4M | ||
| Q2 24 | $-17.6M | $-153.0M | ||
| Q1 24 | $21.6M | $4.0M |
| Q4 25 | -3.8% | 9.9% | ||
| Q3 25 | 0.9% | 13.8% | ||
| Q2 25 | 7.4% | 12.8% | ||
| Q1 25 | 13.6% | 7.0% | ||
| Q4 24 | -1.7% | 7.8% | ||
| Q3 24 | 4.5% | 6.6% | ||
| Q2 24 | 4.8% | -31.3% | ||
| Q1 24 | 9.0% | 3.2% |
| Q4 25 | -7.5% | 6.8% | ||
| Q3 25 | -5.1% | 14.5% | ||
| Q2 25 | -0.8% | 8.4% | ||
| Q1 25 | 3.4% | 4.5% | ||
| Q4 24 | -6.2% | 6.1% | ||
| Q3 24 | -2.5% | 3.8% | ||
| Q2 24 | -5.2% | -30.3% | ||
| Q1 24 | 5.7% | 0.8% |
| Q4 25 | $-0.38 | $0.40 | ||
| Q3 25 | $-0.27 | $0.84 | ||
| Q2 25 | $-0.05 | $0.46 | ||
| Q1 25 | $0.20 | $0.24 | ||
| Q4 24 | $-0.31 | $0.37 | ||
| Q3 24 | $-0.13 | $0.23 | ||
| Q2 24 | $-0.28 | $-1.84 | ||
| Q1 24 | $0.33 | $0.05 |
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 | $375.2M |
| Total DebtLower is stronger | — | $570.5M |
| Stockholders' EquityBook value | $600.2M | $865.9M |
| Total Assets | $3.9B | $2.2B |
| Debt / EquityLower = less leverage | — | 0.66× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $123.7M | $375.2M | ||
| Q3 25 | $89.7M | $340.1M | ||
| Q2 25 | $105.7M | $224.7M | ||
| Q1 25 | $81.8M | $99.0M | ||
| Q4 24 | $90.0M | $229.9M | ||
| Q3 24 | $181.8M | $103.8M | ||
| Q2 24 | $208.3M | $19.4M | ||
| Q1 24 | $112.1M | $8.0M |
| Q4 25 | — | $570.5M | ||
| Q3 25 | — | $577.2M | ||
| Q2 25 | — | $583.9M | ||
| Q1 25 | — | $590.5M | ||
| Q4 24 | — | $597.1M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $600.2M | $865.9M | ||
| Q3 25 | $619.7M | $890.7M | ||
| Q2 25 | $630.8M | $833.8M | ||
| Q1 25 | $619.6M | $789.2M | ||
| Q4 24 | $583.2M | $764.9M | ||
| Q3 24 | $595.4M | $732.5M | ||
| Q2 24 | $590.9M | $706.5M | ||
| Q1 24 | $597.9M | $856.2M |
| Q4 25 | $3.9B | $2.2B | ||
| Q3 25 | $3.8B | $2.2B | ||
| Q2 25 | $3.7B | $2.1B | ||
| Q1 25 | $3.5B | $2.0B | ||
| Q4 24 | $3.5B | $2.2B | ||
| Q3 24 | $3.5B | $2.1B | ||
| Q2 24 | $3.7B | $2.0B | ||
| Q1 24 | $3.5B | $2.2B |
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 0.78× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $114.1M |
| Free Cash FlowOCF − Capex | $-68.9M | — |
| FCF MarginFCF / Revenue | -19.9% | — |
| Capex IntensityCapex / Revenue | 11.4% | — |
| Cash ConversionOCF / Net Profit | — | 3.39× |
| TTM Free Cash FlowTrailing 4 quarters | $-137.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-29.4M | $114.1M | ||
| Q3 25 | $41.0M | $137.3M | ||
| Q2 25 | $-16.7M | $137.2M | ||
| Q1 25 | $-64.0M | $-117.5M | ||
| Q4 24 | $51.5M | $133.0M | ||
| Q3 24 | $32.4M | $91.8M | ||
| Q2 24 | $18.3M | $107.0M | ||
| Q1 24 | $3.0M | $-125.2M |
| 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 | — | 3.39× | ||
| Q3 25 | — | 1.91× | ||
| Q2 25 | — | 3.49× | ||
| Q1 25 | -4.59× | -5.66× | ||
| Q4 24 | — | 4.36× | ||
| Q3 24 | — | 4.72× | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.14× | -31.03× |
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% |
MD
| Health Care Patient Service | $421.6M | 85% |
| Hospitals Contracts | $70.0M | 14% |
| Other | $2.2M | 0% |
