BLK
BlackRock, Inc.
BLK has lower modeled downside risk, despite its lower overall score.
BWIN
The Baldwin Insurance Group, Inc.
BWIN has the edge over BLK overall, supported by stronger valuation and stronger modeled upside.
BLK Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
BLK's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BLK.
BWIN Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Weak | |
| N/A | |
| N/A |
BWIN's revenue is currently strong, but its profitability is weak. Free cash flow and net leverage aren't meaningful measures for financial services companies like BWIN.
BLK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 19x | $848 | -30% |
| Fair | 22x | $973 | -20% |
| Expensive | 26x | $1,149 | -5.5% |
| Current | 28x | $1,217 | — |
Historical ranges are pointers, not guarantees.
BLK's PE is in its expensive range at 28x.
BWIN PE Valuation
BWIN has no meaningful PE right now: it lost money over the past year.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
BWIN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for BWIN, with profitability improving.
BLK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $43.87 | +11% |
| Q2 2026 | $41.73 | -0.4% |
| Q1 2026 | $39.73 | -4.7% |
| Q4 2025 | $35.31 | -17% |
| Q3 2025 | $39.42 | -2.7% |
| Q2 2025 | $41.89 | +4% |
| Q1 2025 | $41.69 | +5.9% |
| Q4 2024 | $42.53 | +16% |
BLK has the edge over BWIN on earnings quality, reporting a profit while its opponent remains loss making.
BWIN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.37 | — |
| Q3 2026 | -$1.41 | -$0.98 |
| Q2 2026 | -$1.05 | -$0.76 |
| Q1 2026 | -$0.68 | -$0.16 |
| Q4 2025 | -$0.50 | -$0.11 |
| Q3 2025 | -$0.43 | +$0.22 |
| Q2 2025 | -$0.29 | +$0.52 |
| Q1 2025 | -$0.52 | +$0.41 |
| Q4 2024 | -$0.39 | +$1.11 |
BWIN lost $1.41 per share over the past year, and its loss has widened in each of the last five quarters.
BLK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $7.8B | +19% |
| Q2 2026 | $7.1B | +31% |
| Q1 2026 | $6.7B | +27% |
| Q4 2025 | $7B | +23% |
| Q3 2025 | $6.5B | +25% |
| Q2 2025 | $5.4B | +13% |
| Q1 2025 | $5.3B | +12% |
| Q4 2024 | $5.7B | +23% |
BLK has the edge over BWIN on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | 0 points |
| Q2 2026 | 35% | +2.8 points |
| Q1 2026 | 42% | +9.8 points |
| Q4 2025 | 24% | -13 points |
| Q3 2025 | 30% | -8.6 points |
| Q2 2025 | 32% | -5.5 points |
| Q1 2025 | 32% | -3.6 points |
| Q4 2024 | 37% | +2.3 points |
BLK has the edge over BWIN on profitability, with a higher operating margin.
BWIN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $480.3M | +31% |
| Q2 2026 | $492.9M | +30% |
| Q1 2026 | $532.2M | +29% |
| Q4 2025 | $347.3M | +5.3% |
| Q3 2025 | $365.4M | +7.8% |
| Q2 2025 | $378.8M | +11% |
| Q1 2025 | $413.4M | +8.7% |
BWIN's revenue has grown year over year every quarter since early 2025: $480M last quarter, up 31% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -9% | -9.9 points |
| Q2 2026 | -1.7% | -9.1 points |
| Q1 2026 | -19% | -33 points |
| Q4 2025 | -3.8% | -2.2 points |
| Q3 2025 | 0.9% | -3.7 points |
| Q2 2025 | 7.4% | +2.5 points |
| Q1 2025 | 14% | +4.5 points |
| Q4 2024 | -1.7% | N/A |
BWIN's operating margin was −9% last quarter, down 9.9 points from the same quarter a year ago, near the bottom of its range since 2024.
BLK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.6B | +95% |
| Q2 2026 | $1.1B | -12% |
| Q1 2026 | -$1.1B | +$120M |
| Q4 2025 | $2.1B | -15% |
| Q2 2025 | $1.3B | -6.1% |
| Q1 2025 | -$1.2B | -$734M |
| Q4 2024 | $2.5B | +35% |
| Q2 2024 | $1.4B | +47% |
BLK has the edge over BWIN on cash flow, with more consistent year-over-year improvement.
BWIN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $39.2M | +22% |
| Q2 2026 | $30.4M | +$58.5M |
| Q1 2026 | -$18.7M | +$54.2M |
| Q4 2025 | -$84K | -102% |
| Q3 2025 | $32.2M | +$40.2M |
| Q2 2025 | -$28.1M | -140% |
| Q1 2025 | -$72.9M | -$67.7M |
| Q4 2024 | $4.3M | -71% |
BWIN's free cash flow was $51M over the past year, against −$65M the year before. Free cash flow isn't a meaningful measure for financial services companies like BWIN.
BLK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -148K shares |
| 1 year | -0.4% | -677K shares |
| 3 years | +9.3% | +14M shares |
| 5 years | +6.2% | +9.6M shares |
| Available history | +4.4% | +7M shares |
BLK has the edge over BWIN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2025 | $396M |
| Q1 2025 | $657M |
| Q4 2024 | $386M |
| Q2 2024 | $519M |
| Q1 2024 | $634M |
| Q4 2023 | $384M |
| Q3 2023 | $396M |
| Q2 2023 | $383M |
BWIN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +168K shares |
| 1 year | +35% | +24.3M shares |
| 3 years | +53% | +32.4M shares |
| 5 years | +100% | +46.5M shares |
| Available history | +368% | +73.1M shares |
BWIN has 93M diluted shares, up 35% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $79.9M |
| Q1 2026 | $47M |
| Q3 2021 | — |
| Q3 2020 | — |
BLK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.0x | Net Cash |
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2024 | 0.2x | Very low |
| Q1 2024 | 0.3x | Very low |
| Q4 2023 | 0.1x | Very low |
BLK has the edge over BWIN on leverage, with a lower net debt burden relative to earnings.
BWIN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.1x | Moderate |
| Q2 2026 | 1.9x | Healthy |
| Q1 2026 | 0.8x | Very low |
| Q4 2025 | 7.8x | High |
| Q3 2025 | -0.1x | Net Cash |
| Q2 2025 | 0.1x | Very low |
| Q1 2025 | -0.4x | Net Cash |
| Q4 2024 | 7.5x | High |
BWIN's net debt is about 2.1 years of its operating earnings (EBITDA), after holding more cash than debt a year ago. Net leverage isn't a meaningful measure for financial services companies like BWIN.
BLK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.5 | Neutral |
| Stochastic | 79.0 | Neutral |
BLK's weekly RSI is 64 (neutral) and its Stochastic is 79 (neutral).
BWIN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 63.1 | Neutral |
| Stochastic | 86.7 | Overbought |
BWIN's weekly RSI is 63 (neutral) and its Stochastic is 87 (overbought).
BLK PE vs Financial Services Sector
| Metric | BLK | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 13x | 113% above |
| PE % | 97 | 63 | 34 pts above |
BLK is trading at 28x earnings, a 113% premium to the Financial Services sector's median of 13x.
BWIN PE vs Financial Services Sector
BWIN has no meaningful PE right now: it lost money over the past year.
BLK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,128.0 | 7.9% above |
| 20 week MA | $1,108.9 | 9.7% above |
| 50 week MA | $1,071.6 | 14% above |
| 100 week MA | $1,051.1 | 16% above |
| 200 week MA | $914.1 | 33% above |
BLK is in an uptrend: it's above all five of its weekly moving averages, and 33% above its 200-week average.
BWIN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $31.9 | 0.4% above |
| 20 week MA | $30.4 | 5.4% above |
| 50 week MA | $25.4 | 26% above |
| 100 week MA | $30.9 | 3.6% above |
| 200 week MA | $30.7 | 4.3% above |
BWIN is in an uptrend: it's above all five of its weekly moving averages, and 4.3% above its 200-week average.
BLK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $503.0 | $707.2 | +41% |
| 2021 | $707.2 | $913.9 | +29% |
| 2022 | $913.9 | $703.9 | -23% |
| 2023 | $703.9 | $811.8 | +15% |
| 2024 | $811.8 | $1,044.2 | +29% |
| 2025 | $1,044.2 | $1,088.1 | +4.2% |
| 2026 YTD | $1,088.1 | $1,216.6 | +12% |
BLK has finished higher in five of the last six years. It's up 12% so far in 2026.
BWIN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $15.6 | $30.3 | +94% |
| 2021 | $30.3 | $34.8 | +15% |
| 2022 | $34.8 | $26.0 | -25% |
| 2023 | $26.0 | $24.0 | -7.5% |
| 2024 | $24.0 | $38.8 | +62% |
| 2025 | $38.8 | $25.6 | -34% |
| 2026 YTD | $25.6 | $32.0 | +25% |
BWIN has the edge over BLK on returns for 2026, with the stronger performance.