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Side-by-side financial comparison of Baldwin Insurance Group, Inc. (BWIN) and Verisign (VRSN). Click either name above to swap in a different company.
Verisign is the larger business by last-quarter revenue ($425.3M vs $347.3M, roughly 1.2× Baldwin Insurance Group, Inc.). Verisign runs the higher net margin — 48.5% vs -7.5%, a 56.0% gap on every dollar of revenue. On growth, Verisign posted the faster year-over-year revenue change (7.6% vs 5.3%). Verisign produced more free cash flow last quarter ($285.1M vs $-68.9M). Over the past eight quarters, Verisign's revenue compounded faster (5.2% 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.
Verisign, Inc. is an American company based in Reston, Virginia, that operates a diverse array of network infrastructure, including two of the Internet's thirteen root nameservers, the authoritative registry for the .com, .net, and .name generic top-level domains and the .cc country-code top-level domains, and the back-end systems for the .jobs and .edu sponsored top-level domains.
BWIN vs VRSN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $347.3M | $425.3M |
| Net Profit | $-25.9M | $206.2M |
| Gross Margin | — | 88.5% |
| Operating Margin | -3.8% | 67.0% |
| Net Margin | -7.5% | 48.5% |
| Revenue YoY | 5.3% | 7.6% |
| Net Profit YoY | -28.3% | 7.7% |
| EPS (diluted) | $-0.38 | — |
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 | $425.3M | ||
| Q3 25 | $365.4M | $419.1M | ||
| Q2 25 | $378.8M | $409.9M | ||
| Q1 25 | $413.4M | $402.3M | ||
| Q4 24 | $329.9M | $395.4M | ||
| Q3 24 | $338.9M | $390.6M | ||
| Q2 24 | $339.8M | $387.1M | ||
| Q1 24 | $380.4M | $384.3M |
| Q4 25 | $-25.9M | $206.2M | ||
| Q3 25 | $-18.7M | $212.8M | ||
| Q2 25 | $-3.2M | $207.4M | ||
| Q1 25 | $13.9M | $199.3M | ||
| Q4 24 | $-20.2M | $191.5M | ||
| Q3 24 | $-8.4M | $201.3M | ||
| Q2 24 | $-17.6M | $198.8M | ||
| Q1 24 | $21.6M | $194.1M |
| Q4 25 | — | 88.5% | ||
| Q3 25 | — | 88.4% | ||
| Q2 25 | — | 88.0% | ||
| Q1 25 | — | 87.7% | ||
| Q4 24 | — | 87.8% | ||
| Q3 24 | — | 88.0% | ||
| Q2 24 | — | 87.8% | ||
| Q1 24 | — | 87.2% |
| Q4 25 | -3.8% | 67.0% | ||
| Q3 25 | 0.9% | 67.8% | ||
| Q2 25 | 7.4% | 68.5% | ||
| Q1 25 | 13.6% | 67.4% | ||
| Q4 24 | -1.7% | 66.7% | ||
| Q3 24 | 4.5% | 68.9% | ||
| Q2 24 | 4.8% | 68.8% | ||
| Q1 24 | 9.0% | 67.4% |
| Q4 25 | -7.5% | 48.5% | ||
| Q3 25 | -5.1% | 50.8% | ||
| Q2 25 | -0.8% | 50.6% | ||
| Q1 25 | 3.4% | 49.5% | ||
| Q4 24 | -6.2% | 48.4% | ||
| Q3 24 | -2.5% | 51.5% | ||
| Q2 24 | -5.2% | 51.4% | ||
| Q1 24 | 5.7% | 50.5% |
| Q4 25 | $-0.38 | — | ||
| Q3 25 | $-0.27 | — | ||
| Q2 25 | $-0.05 | — | ||
| Q1 25 | $0.20 | — | ||
| Q4 24 | $-0.31 | — | ||
| Q3 24 | $-0.13 | — | ||
| Q2 24 | $-0.28 | — | ||
| Q1 24 | $0.33 | — |
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 | $580.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $600.2M | $-2.2B |
| Total Assets | $3.9B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $123.7M | $580.5M | ||
| Q3 25 | $89.7M | $617.7M | ||
| Q2 25 | $105.7M | $593.8M | ||
| Q1 25 | $81.8M | $648.5M | ||
| Q4 24 | $90.0M | $599.9M | ||
| Q3 24 | $181.8M | $644.9M | ||
| Q2 24 | $208.3M | $689.9M | ||
| Q1 24 | $112.1M | $924.7M |
| Q4 25 | $600.2M | $-2.2B | ||
| Q3 25 | $619.7M | $-2.1B | ||
| Q2 25 | $630.8M | $-2.0B | ||
| Q1 25 | $619.6M | $-2.0B | ||
| Q4 24 | $583.2M | $-2.0B | ||
| Q3 24 | $595.4M | $-1.9B | ||
| Q2 24 | $590.9M | $-1.8B | ||
| Q1 24 | $597.9M | $-1.6B |
| Q4 25 | $3.9B | $1.3B | ||
| Q3 25 | $3.8B | $1.4B | ||
| Q2 25 | $3.7B | $1.4B | ||
| Q1 25 | $3.5B | $1.4B | ||
| Q4 24 | $3.5B | $1.4B | ||
| Q3 24 | $3.5B | $1.5B | ||
| Q2 24 | $3.7B | $1.5B | ||
| Q1 24 | $3.5B | $1.7B |
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 | $289.6M |
| Free Cash FlowOCF − Capex | $-68.9M | $285.1M |
| FCF MarginFCF / Revenue | -19.9% | 67.0% |
| Capex IntensityCapex / Revenue | 11.4% | 1.1% |
| Cash ConversionOCF / Net Profit | — | 1.40× |
| TTM Free Cash FlowTrailing 4 quarters | $-137.8M | $1.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-29.4M | $289.6M | ||
| Q3 25 | $41.0M | $307.7M | ||
| Q2 25 | $-16.7M | $202.5M | ||
| Q1 25 | $-64.0M | $291.3M | ||
| Q4 24 | $51.5M | $231.5M | ||
| Q3 24 | $32.4M | $253.4M | ||
| Q2 24 | $18.3M | $160.4M | ||
| Q1 24 | $3.0M | $257.3M |
| Q4 25 | $-68.9M | $285.1M | ||
| Q3 25 | $32.2M | $303.0M | ||
| Q2 25 | $-28.1M | $194.7M | ||
| Q1 25 | $-72.9M | $285.5M | ||
| Q4 24 | $10.4M | $222.0M | ||
| Q3 24 | $22.2M | $247.8M | ||
| Q2 24 | $7.8M | $151.2M | ||
| Q1 24 | $-5.1M | $253.5M |
| Q4 25 | -19.9% | 67.0% | ||
| Q3 25 | 8.8% | 72.3% | ||
| Q2 25 | -7.4% | 47.5% | ||
| Q1 25 | -17.6% | 71.0% | ||
| Q4 24 | 3.2% | 56.1% | ||
| Q3 24 | 6.6% | 63.4% | ||
| Q2 24 | 2.3% | 39.1% | ||
| Q1 24 | -1.4% | 66.0% |
| Q4 25 | 11.4% | 1.1% | ||
| Q3 25 | 2.4% | 1.1% | ||
| Q2 25 | 3.0% | 1.9% | ||
| Q1 25 | 2.2% | 1.4% | ||
| Q4 24 | 12.4% | 2.4% | ||
| Q3 24 | 3.0% | 1.4% | ||
| Q2 24 | 3.1% | 2.4% | ||
| Q1 24 | 2.1% | 1.0% |
| Q4 25 | — | 1.40× | ||
| Q3 25 | — | 1.45× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | -4.59× | 1.46× | ||
| Q4 24 | — | 1.21× | ||
| Q3 24 | — | 1.26× | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | 0.14× | 1.33× |
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% |
VRSN
Segment breakdown not available.
