COMP <GO>
ARX vs BWIN // ALTMAN Z-SCORE & DEBT/EQUITY
Accelerant Holdings (Class A) (NYSE) VS. The Baldwin Insurance Group Inc. (NASDAQ) • 15-METRIC TALLY: ARX 3
— BWIN 2
■ METRIC PARITY
LAST: $19.82 (0.00%) • MKT CAP: $4.30B
balance-sheet
—
LAST: $31.93 (+0.31%) • MKT CAP: $4.44B
balance-sheet
—
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (ARX VS. BWIN)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | ARX | BWIN | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | — | — | — | TIE | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | — | 3.60% | — | TIE | /roic <GO> |
| EV/EBITDA & P/E Valuation | — | 41.8x | — | TIE | /valuation <GO> |
| Free Cash Flow Yield | 10.34% | -2.18% | +12.52 | ARX | /fcf-yield <GO> |
| Operating Margin | — | 4.90% | — | TIE | /operating-margins <GO> |
| Net Profit Margin | — | -3.60% | — | TIE | /net-margins <GO> |
| Revenue Growth (YoY) | 51.50% | 8.50% | +43.00 | ARX | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 0.00% | 0.00% | 0.00 | TIE | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity ACTIVE | — | — | — | TIE | /balance-sheet <GO> |
| Piotroski F-Score Quality | 3/9 | 4/9 | -1.00 | BWIN | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 66.4 | 52.9 | +13.50 | ARX | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | — | 1.12 | — | TIE | /macro-sensitivity <GO> |
| Forward P/E Multiple | — | 29.0x | — | TIE | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $4.30B | $4.44B | -$135.6M | BWIN | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | ARX REV | BWIN REV | ARX GROSS % | BWIN GROSS % | ARX FCF | BWIN FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $912.9M | $1.49B | — | — | $445.1M | -$96.6M |
| FY 2024 | $602.6M | $1.38B | — | — | $785.7M | -$10.5M |
| FY 2023 | $344.0M | $1.21B | — | — | $290.0M | -$54.5M |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
ARX // BETA —
BWIN // BETA 1.12