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Side-by-side financial comparison of Baldwin Insurance Group, Inc. (BWIN) and Revolve Group, Inc. (RVLV). 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 $324.4M, roughly 1.1× Revolve Group, Inc.). Revolve Group, Inc. runs the higher net margin — 5.7% vs -7.5%, a 13.2% gap on every dollar of revenue. On growth, Revolve Group, Inc. posted the faster year-over-year revenue change (10.4% vs 5.3%). Revolve Group, Inc. produced more free cash flow last quarter ($-13.3M vs $-68.9M). Over the past eight quarters, Revolve Group, Inc.'s revenue compounded faster (9.5% 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.
Revolve Theatre Company is a Henley-on-Thames based theatre company specialising in political and Shakespearean plays. The company is owned by Oliver Dench, Joe Morris and Tom Smith.
BWIN vs RVLV — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $347.3M | $324.4M |
| Net Profit | $-25.9M | $18.6M |
| Gross Margin | — | 53.3% |
| Operating Margin | -3.8% | 6.3% |
| Net Margin | -7.5% | 5.7% |
| Revenue YoY | 5.3% | 10.4% |
| Net Profit YoY | -28.3% | 50.4% |
| EPS (diluted) | $-0.38 | $0.27 |
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 | $324.4M | ||
| Q3 25 | $365.4M | $295.6M | ||
| Q2 25 | $378.8M | $309.0M | ||
| Q1 25 | $413.4M | $296.7M | ||
| Q4 24 | $329.9M | $293.7M | ||
| Q3 24 | $338.9M | $283.1M | ||
| Q2 24 | $339.8M | $282.5M | ||
| Q1 24 | $380.4M | $270.6M |
| Q4 25 | $-25.9M | $18.6M | ||
| Q3 25 | $-18.7M | $21.2M | ||
| Q2 25 | $-3.2M | $10.2M | ||
| Q1 25 | $13.9M | $11.8M | ||
| Q4 24 | $-20.2M | $12.3M | ||
| Q3 24 | $-8.4M | $11.0M | ||
| Q2 24 | $-17.6M | $15.4M | ||
| Q1 24 | $21.6M | $10.9M |
| Q4 25 | — | 53.3% | ||
| Q3 25 | — | 54.6% | ||
| Q2 25 | — | 54.1% | ||
| Q1 25 | — | 52.0% | ||
| Q4 24 | — | 52.5% | ||
| Q3 24 | — | 51.2% | ||
| Q2 24 | — | 54.0% | ||
| Q1 24 | — | 52.3% |
| Q4 25 | -3.8% | 6.3% | ||
| Q3 25 | 0.9% | 7.1% | ||
| Q2 25 | 7.4% | 5.8% | ||
| Q1 25 | 13.6% | 5.0% | ||
| Q4 24 | -1.7% | 3.9% | ||
| Q3 24 | 4.5% | 5.0% | ||
| Q2 24 | 4.8% | 5.8% | ||
| Q1 24 | 9.0% | 3.4% |
| Q4 25 | -7.5% | 5.7% | ||
| Q3 25 | -5.1% | 7.2% | ||
| Q2 25 | -0.8% | 3.3% | ||
| Q1 25 | 3.4% | 4.0% | ||
| Q4 24 | -6.2% | 4.2% | ||
| Q3 24 | -2.5% | 3.9% | ||
| Q2 24 | -5.2% | 5.4% | ||
| Q1 24 | 5.7% | 4.0% |
| Q4 25 | $-0.38 | $0.27 | ||
| Q3 25 | $-0.27 | $0.29 | ||
| Q2 25 | $-0.05 | $0.14 | ||
| Q1 25 | $0.20 | $0.16 | ||
| Q4 24 | $-0.31 | $0.18 | ||
| Q3 24 | $-0.13 | $0.15 | ||
| Q2 24 | $-0.28 | $0.21 | ||
| Q1 24 | $0.33 | $0.15 |
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 | $292.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $600.2M | $512.5M |
| Total Assets | $3.9B | $765.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $123.7M | $292.3M | ||
| Q3 25 | $89.7M | $315.4M | ||
| Q2 25 | $105.7M | $310.7M | ||
| Q1 25 | $81.8M | $300.8M | ||
| Q4 24 | $90.0M | $256.6M | ||
| Q3 24 | $181.8M | $252.8M | ||
| Q2 24 | $208.3M | $244.7M | ||
| Q1 24 | $112.1M | $273.4M |
| Q4 25 | $600.2M | $512.5M | ||
| Q3 25 | $619.7M | $490.2M | ||
| Q2 25 | $630.8M | $468.6M | ||
| Q1 25 | $619.6M | $453.4M | ||
| Q4 24 | $583.2M | $437.8M | ||
| Q3 24 | $595.4M | $420.8M | ||
| Q2 24 | $590.9M | $405.8M | ||
| Q1 24 | $597.9M | $389.9M |
| Q4 25 | $3.9B | $765.0M | ||
| Q3 25 | $3.8B | $751.3M | ||
| Q2 25 | $3.7B | $722.9M | ||
| Q1 25 | $3.5B | $713.9M | ||
| Q4 24 | $3.5B | $665.5M | ||
| Q3 24 | $3.5B | $670.9M | ||
| Q2 24 | $3.7B | $657.8M | ||
| Q1 24 | $3.5B | $650.0M |
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 | $-10.2M |
| Free Cash FlowOCF − Capex | $-68.9M | $-13.3M |
| FCF MarginFCF / Revenue | -19.9% | -4.1% |
| Capex IntensityCapex / Revenue | 11.4% | 1.0% |
| Cash ConversionOCF / Net Profit | — | -0.55× |
| TTM Free Cash FlowTrailing 4 quarters | $-137.8M | $48.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-29.4M | $-10.2M | ||
| Q3 25 | $41.0M | $11.8M | ||
| Q2 25 | $-16.7M | $12.6M | ||
| Q1 25 | $-64.0M | $45.1M | ||
| Q4 24 | $51.5M | $3.9M | ||
| Q3 24 | $32.4M | $9.1M | ||
| Q2 24 | $18.3M | $-24.7M | ||
| Q1 24 | $3.0M | $38.4M |
| Q4 25 | $-68.9M | $-13.3M | ||
| Q3 25 | $32.2M | $7.5M | ||
| Q2 25 | $-28.1M | $10.4M | ||
| Q1 25 | $-72.9M | $43.4M | ||
| Q4 24 | $10.4M | $2.1M | ||
| Q3 24 | $22.2M | $8.0M | ||
| Q2 24 | $7.8M | $-25.7M | ||
| Q1 24 | $-5.1M | $36.7M |
| Q4 25 | -19.9% | -4.1% | ||
| Q3 25 | 8.8% | 2.5% | ||
| Q2 25 | -7.4% | 3.4% | ||
| Q1 25 | -17.6% | 14.6% | ||
| Q4 24 | 3.2% | 0.7% | ||
| Q3 24 | 6.6% | 2.8% | ||
| Q2 24 | 2.3% | -9.1% | ||
| Q1 24 | -1.4% | 13.5% |
| Q4 25 | 11.4% | 1.0% | ||
| Q3 25 | 2.4% | 1.5% | ||
| Q2 25 | 3.0% | 0.7% | ||
| Q1 25 | 2.2% | 0.6% | ||
| Q4 24 | 12.4% | 0.6% | ||
| Q3 24 | 3.0% | 0.4% | ||
| Q2 24 | 3.1% | 0.4% | ||
| Q1 24 | 2.1% | 0.6% |
| Q4 25 | — | -0.55× | ||
| Q3 25 | — | 0.56× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | -4.59× | 3.82× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.83× | ||
| Q2 24 | — | -1.60× | ||
| Q1 24 | 0.14× | 3.53× |
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% |
RVLV
| Fashion Apparel | $155.1M | 48% |
| Dresses | $76.4M | 24% |
| Handbags Shoes And Accessories | $67.6M | 21% |
| Beauty | $20.3M | 6% |
| Manufactured Product Other | $5.0M | 2% |
| Breakage On Store Credit And Gift Cards | $900.0K | 0% |
