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Side-by-side financial comparison of Baldwin Insurance Group, Inc. (BWIN) and UNIVERSAL TECHNICAL INSTITUTE INC (UTI). 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 $220.8M, roughly 1.6× UNIVERSAL TECHNICAL INSTITUTE INC). UNIVERSAL TECHNICAL INSTITUTE INC runs the higher net margin — 5.8% vs -7.5%, a 13.3% gap on every dollar of revenue. On growth, UNIVERSAL TECHNICAL INSTITUTE INC posted the faster year-over-year revenue change (9.6% vs 5.3%). UNIVERSAL TECHNICAL INSTITUTE INC produced more free cash flow last quarter ($-19.2M vs $-68.9M). Over the past eight quarters, UNIVERSAL TECHNICAL INSTITUTE 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.
Universal Technical Institute, Inc. (UTI) is a private for-profit system of technical colleges in the United States. It was established in 1965 by Robert Sweet.
BWIN vs UTI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $347.3M | $220.8M |
| Net Profit | $-25.9M | $12.8M |
| Gross Margin | — | — |
| Operating Margin | -3.8% | 7.1% |
| Net Margin | -7.5% | 5.8% |
| Revenue YoY | 5.3% | 9.6% |
| Net Profit YoY | -28.3% | -42.1% |
| EPS (diluted) | $-0.38 | $0.23 |
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 | $220.8M | ||
| Q3 25 | $365.4M | $222.4M | ||
| Q2 25 | $378.8M | $204.3M | ||
| Q1 25 | $413.4M | $207.4M | ||
| Q4 24 | $329.9M | $201.4M | ||
| Q3 24 | $338.9M | $196.4M | ||
| Q2 24 | $339.8M | $177.5M | ||
| Q1 24 | $380.4M | $184.2M |
| Q4 25 | $-25.9M | $12.8M | ||
| Q3 25 | $-18.7M | $18.8M | ||
| Q2 25 | $-3.2M | $10.7M | ||
| Q1 25 | $13.9M | $11.4M | ||
| Q4 24 | $-20.2M | $22.2M | ||
| Q3 24 | $-8.4M | $18.8M | ||
| Q2 24 | $-17.6M | $5.0M | ||
| Q1 24 | $21.6M | $7.8M |
| Q4 25 | -3.8% | 7.1% | ||
| Q3 25 | 0.9% | 11.2% | ||
| Q2 25 | 7.4% | 6.9% | ||
| Q1 25 | 13.6% | 8.1% | ||
| Q4 24 | -1.7% | 13.6% | ||
| Q3 24 | 4.5% | 13.3% | ||
| Q2 24 | 4.8% | 4.2% | ||
| Q1 24 | 9.0% | 6.1% |
| Q4 25 | -7.5% | 5.8% | ||
| Q3 25 | -5.1% | 8.4% | ||
| Q2 25 | -0.8% | 5.2% | ||
| Q1 25 | 3.4% | 5.5% | ||
| Q4 24 | -6.2% | 11.0% | ||
| Q3 24 | -2.5% | 9.6% | ||
| Q2 24 | -5.2% | 2.8% | ||
| Q1 24 | 5.7% | 4.2% |
| Q4 25 | $-0.38 | $0.23 | ||
| Q3 25 | $-0.27 | $0.33 | ||
| Q2 25 | $-0.05 | $0.19 | ||
| Q1 25 | $0.20 | $0.21 | ||
| Q4 24 | $-0.31 | $0.40 | ||
| Q3 24 | $-0.13 | $0.35 | ||
| Q2 24 | $-0.28 | $0.09 | ||
| Q1 24 | $0.33 | $0.14 |
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 | $162.8M |
| Total DebtLower is stronger | — | $101.4M |
| Stockholders' EquityBook value | $600.2M | $335.9M |
| Total Assets | $3.9B | $834.0M |
| Debt / EquityLower = less leverage | — | 0.30× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $123.7M | $162.8M | ||
| Q3 25 | $89.7M | $169.1M | ||
| Q2 25 | $105.7M | $70.7M | ||
| Q1 25 | $81.8M | $96.0M | ||
| Q4 24 | $90.0M | $172.0M | ||
| Q3 24 | $181.8M | $161.9M | ||
| Q2 24 | $208.3M | $115.5M | ||
| Q1 24 | $112.1M | $116.1M |
| Q4 25 | — | $101.4M | ||
| Q3 25 | — | $87.1M | ||
| Q2 25 | — | $73.8M | ||
| Q1 25 | — | $94.4M | ||
| Q4 24 | — | $120.1M | ||
| Q3 24 | — | $125.7M | ||
| Q2 24 | — | $137.3M | ||
| Q1 24 | — | $141.9M |
| Q4 25 | $600.2M | $335.9M | ||
| Q3 25 | $619.7M | $328.1M | ||
| Q2 25 | $630.8M | $306.8M | ||
| Q1 25 | $619.6M | $293.9M | ||
| Q4 24 | $583.2M | $280.0M | ||
| Q3 24 | $595.4M | $260.2M | ||
| Q2 24 | $590.9M | $239.4M | ||
| Q1 24 | $597.9M | $232.6M |
| Q4 25 | $3.9B | $834.0M | ||
| Q3 25 | $3.8B | $826.1M | ||
| Q2 25 | $3.7B | $740.8M | ||
| Q1 25 | $3.5B | $720.4M | ||
| Q4 24 | $3.5B | $753.8M | ||
| Q3 24 | $3.5B | $744.6M | ||
| Q2 24 | $3.7B | $706.0M | ||
| Q1 24 | $3.5B | $702.1M |
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 0.48× | ||
| Q2 24 | — | 0.57× | ||
| Q1 24 | — | 0.61× |
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 | $3.1M |
| Free Cash FlowOCF − Capex | $-68.9M | $-19.2M |
| FCF MarginFCF / Revenue | -19.9% | -8.7% |
| Capex IntensityCapex / Revenue | 11.4% | 10.1% |
| Cash ConversionOCF / Net Profit | — | 0.24× |
| TTM Free Cash FlowTrailing 4 quarters | $-137.8M | $16.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-29.4M | $3.1M | ||
| Q3 25 | $41.0M | $57.1M | ||
| Q2 25 | $-16.7M | $18.1M | ||
| Q1 25 | $-64.0M | $-789.0K | ||
| Q4 24 | $51.5M | $23.0M | ||
| Q3 24 | $32.4M | $67.5M | ||
| Q2 24 | $18.3M | $10.0M | ||
| Q1 24 | $3.0M | $-2.5M |
| Q4 25 | $-68.9M | $-19.2M | ||
| Q3 25 | $32.2M | $40.6M | ||
| Q2 25 | $-28.1M | $6.8M | ||
| Q1 25 | $-72.9M | $-11.7M | ||
| Q4 24 | $10.4M | $19.6M | ||
| Q3 24 | $22.2M | $60.0M | ||
| Q2 24 | $7.8M | $3.0M | ||
| Q1 24 | $-5.1M | $-8.4M |
| Q4 25 | -19.9% | -8.7% | ||
| Q3 25 | 8.8% | 18.3% | ||
| Q2 25 | -7.4% | 3.4% | ||
| Q1 25 | -17.6% | -5.7% | ||
| Q4 24 | 3.2% | 9.7% | ||
| Q3 24 | 6.6% | 30.6% | ||
| Q2 24 | 2.3% | 1.7% | ||
| Q1 24 | -1.4% | -4.6% |
| Q4 25 | 11.4% | 10.1% | ||
| Q3 25 | 2.4% | 7.4% | ||
| Q2 25 | 3.0% | 5.5% | ||
| Q1 25 | 2.2% | 5.3% | ||
| Q4 24 | 12.4% | 1.7% | ||
| Q3 24 | 3.0% | 3.8% | ||
| Q2 24 | 3.1% | 4.0% | ||
| Q1 24 | 2.1% | 3.2% |
| Q4 25 | — | 0.24× | ||
| Q3 25 | — | 3.04× | ||
| Q2 25 | — | 1.69× | ||
| Q1 25 | -4.59× | -0.07× | ||
| Q4 24 | — | 1.04× | ||
| Q3 24 | — | 3.58× | ||
| Q2 24 | — | 2.01× | ||
| Q1 24 | 0.14× | -0.32× |
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% |
UTI
| UTI | $142.8M | 65% |
| Concorde | $78.0M | 35% |
