The Baird Way 2025 Annual Report
2025 Financial Information
Baird Financial Group: Financial Highlights
| Operating Results | Financial Position | Other | |||||
|---|---|---|---|---|---|---|---|
| Net Revenues (Millions) |
Operating Income (Millions) |
Total Assets (Millions) | Stockholders' Equity (Millions) | Associates | Financial Advisors | Client Assets1 (Billions) | |
| 2025 | $3,807 | $757 | $5,501 | $2,318 | 5,460 | 1,417 | $564 |
| 2024 | $3,512 | $674 | $5,455 | $2,198 | 5,304 | 1,396 | $495 |
| 2023 | $2,913 | $509 | $4,700 | $1,945 | 5,174 | 1,390 | $432 |
| 2022 | $2,786 | $477 | $4,452 | $1,905 | 5,077 | 1,393 | $376 |
| 2021 | $3,412 | $609 | $4,614 | $1,609 | 4,703 | 1,309 | $416 |
| 2020 | $2,330 | $360 | $3,507 | $1,288 | 4,512 | 1,292 | $359 |
| 2019 | $2,060 | $262 | $3,343 | $1,176 | 4,641 | 1,298 | $309 |
| 2018 | $1,784 | $244 | $3,235 | $950 | 3,642 | 937 | $208 |
| 2017 | $1,533 | $199 | $3,122 | $737 | 3,410 | 858 | $203 |
| 2016 | $1,390 | $155 | $2,613 | $632 | 3,410 | 877 | $171 |
Baird’s client assets were nearly $564 billion at the end of 2025, an increase of more than 273% over the past decade.1
1Client assets include brokerage and advisory client assets. Financial information does not reflect the consolidation of certain private equity partnerships.
Baird Financial Group: Shareholder Highlights
| Per-Share Data2 | Associate Ownership | ||||||
|---|---|---|---|---|---|---|---|
| Year-End Book Value | Cash Dividends Paid | Book Value Plus Cash Dividends | Annual Increase in Book Value Including Current Year Cash Dividends Paid | % of Associates Who Are Shareholders | |||
| 2025 | $31.43 | $6.50 | $37.93 | 24.1% | 80.7% | ||
| 2024 | $30.56 | $3.50 | $34.06 | 24.3% | 79.6% | ||
| 2023 | $27.40 | $4.80 | $32.20 | 18.6% | 78.4% | ||
| 2022 | $27.14 | $1.50 | $28.64 | 19.9% | 70.1% | ||
| 2021 | $23.88 | $2.50 | $26.38 | 33.4% | 67.2% | ||
| 2020 | $19.77 | $1.83 | $21.60 | 21.8% | 67.8% | ||
| 2019 | $17.74 | $0.83 | $18.57 | 14.2% | 65.5% | ||
| 2018 | $16.26 | $- | $16.26 | 22.6% | 65.7% | ||
| 2017 | $13.26 | $0.70 | $13.96 | 20.8% | 65.8% | ||
| 2016 | $11.56 | $2.50 | $14.06 | 12.5% | 63.8% | ||
Our stock value has increased more than 349% over the past 10 years.3
2 Book value and dividends have been restated to reflect any previous stock splits.
3 Note: Baird stock performance is based on the change in book value per share for Baird Financial Group common stock and includes cumulative cash dividends. Baird stock returns do not assume dividend reinvestment. Baird is privately held and no public market exists for its shares. Baird can repurchase shares of Baird stock at book value when associates leave the firm. Past performance does not guarantee future results.
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“Baird” is the marketing name for Robert W. Baird & Co. Incorporated and its subsidiaries and affiliates worldwide.
Robert W. Baird Limited and Baird Capital Partners Europe Limited are authorized and regulated in the United Kingdom by the Financial Conduct Authority.
Services or products may not be available in all jurisdictions or to all persons or entities.
For additional information, please visit Important Disclosures at rwbaird.com.