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Side-by-side financial comparison of Baldwin Insurance Group, Inc. (BWIN) and Pacira BioSciences, Inc. (PCRX). 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 $177.4M, roughly 2.0× Pacira BioSciences, Inc.). Pacira BioSciences, Inc. runs the higher net margin — 1.6% vs -7.5%, a 9.1% gap on every dollar of revenue. On growth, Baldwin Insurance Group, Inc. posted the faster year-over-year revenue change (5.3% vs 5.0%). Over the past eight quarters, Pacira BioSciences, Inc.'s revenue compounded faster (-0.2% 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.
Pacira BioSciences, Inc. is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain management solutions. Its core product line targets post-surgical pain relief for patients, serving hospitals, ambulatory surgery centers and other healthcare providers primarily in the U.S., with ongoing expansion efforts in select international markets.
BWIN vs PCRX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $347.3M | $177.4M |
| Net Profit | $-25.9M | $2.9M |
| Gross Margin | — | — |
| Operating Margin | -3.8% | 3.9% |
| Net Margin | -7.5% | 1.6% |
| Revenue YoY | 5.3% | 5.0% |
| Net Profit YoY | -28.3% | — |
| EPS (diluted) | $-0.38 | $0.07 |
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.
| Q1 26 | — | $177.4M | ||
| Q4 25 | $347.3M | $196.9M | ||
| Q3 25 | $365.4M | $179.5M | ||
| Q2 25 | $378.8M | $181.1M | ||
| Q1 25 | $413.4M | $168.9M | ||
| Q4 24 | $329.9M | $187.3M | ||
| Q3 24 | $338.9M | $168.6M | ||
| Q2 24 | $339.8M | $178.0M |
| Q1 26 | — | $2.9M | ||
| Q4 25 | $-25.9M | — | ||
| Q3 25 | $-18.7M | $5.4M | ||
| Q2 25 | $-3.2M | $-4.8M | ||
| Q1 25 | $13.9M | $4.8M | ||
| Q4 24 | $-20.2M | — | ||
| Q3 24 | $-8.4M | $-143.5M | ||
| Q2 24 | $-17.6M | $18.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 80.9% | ||
| Q2 25 | — | 77.4% | ||
| Q1 25 | — | 79.7% | ||
| Q4 24 | — | 78.7% | ||
| Q3 24 | — | 76.9% | ||
| Q2 24 | — | 75.1% |
| Q1 26 | — | 3.9% | ||
| Q4 25 | -3.8% | 1.2% | ||
| Q3 25 | 0.9% | 3.5% | ||
| Q2 25 | 7.4% | 4.7% | ||
| Q1 25 | 13.6% | 1.2% | ||
| Q4 24 | -1.7% | 13.2% | ||
| Q3 24 | 4.5% | -82.8% | ||
| Q2 24 | 4.8% | 15.9% |
| Q1 26 | — | 1.6% | ||
| Q4 25 | -7.5% | — | ||
| Q3 25 | -5.1% | 3.0% | ||
| Q2 25 | -0.8% | -2.7% | ||
| Q1 25 | 3.4% | 2.8% | ||
| Q4 24 | -6.2% | — | ||
| Q3 24 | -2.5% | -85.1% | ||
| Q2 24 | -5.2% | 10.6% |
| Q1 26 | — | $0.07 | ||
| Q4 25 | $-0.38 | $0.05 | ||
| Q3 25 | $-0.27 | $0.12 | ||
| Q2 25 | $-0.05 | $-0.11 | ||
| Q1 25 | $0.20 | $0.10 | ||
| Q4 24 | $-0.31 | $0.38 | ||
| Q3 24 | $-0.13 | $-3.11 | ||
| Q2 24 | $-0.28 | $0.39 |
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 | $144.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $600.2M | $653.9M |
| Total Assets | $3.9B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $144.3M | ||
| Q4 25 | $123.7M | $238.4M | ||
| Q3 25 | $89.7M | $246.3M | ||
| Q2 25 | $105.7M | $445.9M | ||
| Q1 25 | $81.8M | $493.6M | ||
| Q4 24 | $90.0M | $484.6M | ||
| Q3 24 | $181.8M | $453.8M | ||
| Q2 24 | $208.3M | $404.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $372.2M | ||
| Q3 25 | — | $376.7M | ||
| Q2 25 | — | $580.5M | ||
| Q1 25 | — | $583.4M | ||
| Q4 24 | — | $585.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $653.9M | ||
| Q4 25 | $600.2M | $693.1M | ||
| Q3 25 | $619.7M | $727.2M | ||
| Q2 25 | $630.8M | $757.8M | ||
| Q1 25 | $619.6M | $798.5M | ||
| Q4 24 | $583.2M | $778.3M | ||
| Q3 24 | $595.4M | $749.6M | ||
| Q2 24 | $590.9M | $879.3M |
| Q1 26 | — | $1.2B | ||
| Q4 25 | $3.9B | $1.3B | ||
| Q3 25 | $3.8B | $1.3B | ||
| Q2 25 | $3.7B | $1.5B | ||
| Q1 25 | $3.5B | $1.6B | ||
| Q4 24 | $3.5B | $1.6B | ||
| Q3 24 | $3.5B | $1.5B | ||
| Q2 24 | $3.7B | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.54× | ||
| Q3 25 | — | 0.52× | ||
| Q2 25 | — | 0.77× | ||
| Q1 25 | — | 0.73× | ||
| Q4 24 | — | 0.75× | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| 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.
| Q1 26 | — | — | ||
| Q4 25 | $-29.4M | $43.7M | ||
| Q3 25 | $41.0M | $60.8M | ||
| Q2 25 | $-16.7M | $12.0M | ||
| Q1 25 | $-64.0M | $35.5M | ||
| Q4 24 | $51.5M | $33.1M | ||
| Q3 24 | $32.4M | $53.9M | ||
| Q2 24 | $18.3M | $53.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-68.9M | $43.5M | ||
| Q3 25 | $32.2M | $57.0M | ||
| Q2 25 | $-28.1M | $9.3M | ||
| Q1 25 | $-72.9M | $26.9M | ||
| Q4 24 | $10.4M | $31.0M | ||
| Q3 24 | $22.2M | $49.8M | ||
| Q2 24 | $7.8M | $51.6M |
| Q1 26 | — | — | ||
| Q4 25 | -19.9% | 22.1% | ||
| Q3 25 | 8.8% | 31.7% | ||
| Q2 25 | -7.4% | 5.1% | ||
| Q1 25 | -17.6% | 15.9% | ||
| Q4 24 | 3.2% | 16.6% | ||
| Q3 24 | 6.6% | 29.6% | ||
| Q2 24 | 2.3% | 29.0% |
| Q1 26 | — | — | ||
| Q4 25 | 11.4% | 0.1% | ||
| Q3 25 | 2.4% | 2.2% | ||
| Q2 25 | 3.0% | 1.5% | ||
| Q1 25 | 2.2% | 5.1% | ||
| Q4 24 | 12.4% | 1.1% | ||
| Q3 24 | 3.0% | 2.4% | ||
| Q2 24 | 3.1% | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 11.20× | ||
| Q2 25 | — | — | ||
| Q1 25 | -4.59× | 7.37× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.82× |
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% |
PCRX
| EXPAREL | $143.3M | 81% |
| ZILRETTA | $26.8M | 15% |
| iovera° | $6.2M | 3% |
| Bupivacaine liposome injectable suspension | $1.2M | 1% |
