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Side-by-side financial comparison of Baldwin Insurance Group, Inc. (BWIN) and ProPetro Holding Corp. (PUMP). 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 $289.7M, roughly 1.2× ProPetro Holding Corp.). On growth, Baldwin Insurance Group, Inc. posted the faster year-over-year revenue change (5.3% vs -9.6%). ProPetro Holding Corp. produced more free cash flow last quarter ($16.8M vs $-68.9M). Over the past eight quarters, Baldwin Insurance Group, Inc.'s revenue compounded faster (-4.4% CAGR vs -15.5%).
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.
ProPetro Holding Corp. is a leading U.S.-based oilfield services provider. It offers hydraulic fracturing, well completion and related supporting services primarily to onshore oil and gas exploration and production operators, with core operations concentrated in the Permian Basin spanning Texas and New Mexico.
BWIN vs PUMP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $347.3M | $289.7M |
| Net Profit | $-25.9M | — |
| Gross Margin | — | — |
| Operating Margin | -3.8% | 2.1% |
| Net Margin | -7.5% | — |
| Revenue YoY | 5.3% | -9.6% |
| Net Profit YoY | -28.3% | — |
| EPS (diluted) | $-0.38 | $0.01 |
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 | $289.7M | ||
| Q3 25 | $365.4M | $293.9M | ||
| Q2 25 | $378.8M | $326.2M | ||
| Q1 25 | $413.4M | $359.4M | ||
| Q4 24 | $329.9M | $320.6M | ||
| Q3 24 | $338.9M | $360.9M | ||
| Q2 24 | $339.8M | $357.0M | ||
| Q1 24 | $380.4M | $405.8M |
| Q4 25 | $-25.9M | — | ||
| Q3 25 | $-18.7M | $-2.4M | ||
| Q2 25 | $-3.2M | $-7.2M | ||
| Q1 25 | $13.9M | $9.6M | ||
| Q4 24 | $-20.2M | — | ||
| Q3 24 | $-8.4M | $-137.1M | ||
| Q2 24 | $-17.6M | $-3.7M | ||
| Q1 24 | $21.6M | $19.9M |
| Q4 25 | -3.8% | 2.1% | ||
| Q3 25 | 0.9% | -2.1% | ||
| Q2 25 | 7.4% | -1.0% | ||
| Q1 25 | 13.6% | 2.6% | ||
| Q4 24 | -1.7% | -5.8% | ||
| Q3 24 | 4.5% | -49.4% | ||
| Q2 24 | 4.8% | -0.1% | ||
| Q1 24 | 9.0% | 7.5% |
| Q4 25 | -7.5% | — | ||
| Q3 25 | -5.1% | -0.8% | ||
| Q2 25 | -0.8% | -2.2% | ||
| Q1 25 | 3.4% | 2.7% | ||
| Q4 24 | -6.2% | — | ||
| Q3 24 | -2.5% | -38.0% | ||
| Q2 24 | -5.2% | -1.0% | ||
| Q1 24 | 5.7% | 4.9% |
| Q4 25 | $-0.38 | $0.01 | ||
| Q3 25 | $-0.27 | $-0.02 | ||
| Q2 25 | $-0.05 | $-0.07 | ||
| Q1 25 | $0.20 | $0.09 | ||
| Q4 24 | $-0.31 | $-0.14 | ||
| Q3 24 | $-0.13 | $-1.32 | ||
| Q2 24 | $-0.28 | $-0.03 | ||
| Q1 24 | $0.33 | $0.18 |
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 | $91.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $600.2M | $829.8M |
| Total Assets | $3.9B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $123.7M | $91.3M | ||
| Q3 25 | $89.7M | $76.7M | ||
| Q2 25 | $105.7M | $83.0M | ||
| Q1 25 | $81.8M | $71.4M | ||
| Q4 24 | $90.0M | $58.3M | ||
| Q3 24 | $181.8M | $54.0M | ||
| Q2 24 | $208.3M | $74.7M | ||
| Q1 24 | $112.1M | $53.6M |
| Q4 25 | $600.2M | $829.8M | ||
| Q3 25 | $619.7M | $826.2M | ||
| Q2 25 | $630.8M | $824.0M | ||
| Q1 25 | $619.6M | $826.5M | ||
| Q4 24 | $583.2M | $816.3M | ||
| Q3 24 | $595.4M | $833.0M | ||
| Q2 24 | $590.9M | $975.8M | ||
| Q1 24 | $597.9M | $998.2M |
| Q4 25 | $3.9B | $1.3B | ||
| Q3 25 | $3.8B | $1.3B | ||
| Q2 25 | $3.7B | $1.2B | ||
| Q1 25 | $3.5B | $1.2B | ||
| Q4 24 | $3.5B | $1.2B | ||
| Q3 24 | $3.5B | $1.3B | ||
| Q2 24 | $3.7B | $1.5B | ||
| Q1 24 | $3.5B | $1.2B |
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 | $81.0M |
| Free Cash FlowOCF − Capex | $-68.9M | $16.8M |
| FCF MarginFCF / Revenue | -19.9% | 5.8% |
| Capex IntensityCapex / Revenue | 11.4% | 22.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-137.8M | $45.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-29.4M | $81.0M | ||
| Q3 25 | $41.0M | $41.7M | ||
| Q2 25 | $-16.7M | $54.2M | ||
| Q1 25 | $-64.0M | $54.7M | ||
| Q4 24 | $51.5M | $37.9M | ||
| Q3 24 | $32.4M | $34.7M | ||
| Q2 24 | $18.3M | $104.9M | ||
| Q1 24 | $3.0M | $74.8M |
| Q4 25 | $-68.9M | $16.8M | ||
| Q3 25 | $32.2M | $-2.4M | ||
| Q2 25 | $-28.1M | $17.1M | ||
| Q1 25 | $-72.9M | $13.8M | ||
| Q4 24 | $10.4M | $10.0M | ||
| Q3 24 | $22.2M | $-6.0M | ||
| Q2 24 | $7.8M | $67.7M | ||
| Q1 24 | $-5.1M | $40.2M |
| Q4 25 | -19.9% | 5.8% | ||
| Q3 25 | 8.8% | -0.8% | ||
| Q2 25 | -7.4% | 5.2% | ||
| Q1 25 | -17.6% | 3.8% | ||
| Q4 24 | 3.2% | 3.1% | ||
| Q3 24 | 6.6% | -1.7% | ||
| Q2 24 | 2.3% | 19.0% | ||
| Q1 24 | -1.4% | 9.9% |
| Q4 25 | 11.4% | 22.2% | ||
| Q3 25 | 2.4% | 15.0% | ||
| Q2 25 | 3.0% | 11.4% | ||
| Q1 25 | 2.2% | 11.4% | ||
| Q4 24 | 12.4% | 8.7% | ||
| Q3 24 | 3.0% | 11.3% | ||
| Q2 24 | 3.1% | 10.4% | ||
| Q1 24 | 2.1% | 8.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -4.59× | 5.70× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.14× | 3.75× |
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% |
PUMP
| Hydraulic Fracturing Segment | $203.9M | 70% |
| Wireline Operating Segment | $55.4M | 19% |
| Cementing Operating Segment | $29.6M | 10% |
