SKWD · Skyward Specialty Insurance Group, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $475.87M | - | $382.53M | $319.90M | $328.53M | - | $300.89M | $279.94M | $264.97M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $3.91M | - | - | - | - | - | - | - | - | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | - | - | - | - | - | - | - | - | - | - |
| Operating Income | $62.08M | - | $60.55M | $49.80M | $51.44M | - | $46.85M | $40.35M | $46.98M | - |
| Interest Expense | $7.72M | - | $1.92M | $1.88M | $1.83M | - | $2.23M | $2.45M | $2.73M | - |
| Income Tax | $12.35M | - | $14.65M | $10.96M | $9.38M | - | $10.19M | $9.38M | $10.19M | - |
| Net Income | $49.73M | - | $45.90M | $38.84M | $42.06M | - | $36.67M | $30.97M | $36.78M | - |
| EPS - Basic | $1.12 | - | $1.13 | $0.96 | $1.05 | - | $0.91 | $0.79 | $0.94 | - |
| EPS - Diluted | $1.09 | - | $1.10 | $0.93 | $1.01 | - | $0.89 | $0.75 | $0.90 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $255.91M | $168.54M | $160.07M | $136.62M | $112.92M | $121.60M | $105.57M | $72.99M | $85.06M | $65.89M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $6.55B | $4.79B | $4.59B | $4.34B | $4.03B | $3.73B | $3.60B | $3.44B | $3.19B | $2.95B |
| Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $5.32B | $3.78B | $3.63B | $3.44B | $3.18B | $2.94B | $2.80B | $2.71B | $2.49B | $2.29B |
| Stockholders' Equity | $1.22B | $1.01B | $961.42M | $899.91M | $850.72M | $794.00M | $797.51M | $723.62M | $692.27M | $661.03M |
| Retained Earnings | $316.88M | $267.15M | $223.92M | $178.02M | $139.18M | $97.12M | $82.71M | $46.05M | $15.08M | ($21.71M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $116.54M | - | - | - | $96.76M | - | - | - | $94.27M | - |
| Investing Cash Flow | ($361.84M) | - | - | - | ($100.78M) | - | - | - | ($69.87M) | - |
| Financing Cash Flow | $362.62M | - | - | - | $0 | - | - | - | ($9.47M) | - |
| CapEx | $202.0K | - | - | - | $202.0K | - | - | - | $260.0K | - |
| Free Cash Flow | $116.33M | - | - | - | $96.56M | - | - | - | $94.00M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 13.0% | - | 15.8% | 15.6% | 15.7% | - | 15.6% | 14.4% | 17.7% | - |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | 10.5% | - | 12.0% | 12.1% | 12.8% | - | 12.2% | 11.1% | 13.9% | - |
| Free cash flow margin | 24.4% | - | - | - | 29.4% | - | - | - | 35.5% | - |
| FCF / Net income | 2.34 | - | - | - | 2.30 | - | - | - | 2.56 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 0.8% | - | - | - | - | - | - | - | - | - |
| Effective tax rate | 19.9% | - | 24.2% | 22.0% | 18.2% | - | 21.7% | 23.3% | 21.7% | - |
| Return on assets | 0.8% | - | 1.0% | 0.9% | 1.0% | - | 1.0% | 0.9% | 1.2% | - |
| Return on equity | 4.1% | - | 4.8% | 4.3% | 4.9% | - | 4.6% | 4.3% | 5.3% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | - | - | - | - | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - | - | - | - | - |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 8.0x | - | 31.6x | 26.5x | 28.0x | - | 21.0x | 16.5x | 17.2x | - |
| Equity multiplier | 5.35 | 4.75 | 4.78 | 4.82 | 4.74 | 4.70 | 4.51 | 4.75 | 4.60 | 4.47 |
| Liabilities / Assets | 0.81 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.78 | 0.79 | 0.78 | 0.78 |
| Efficiency | ||||||||||
| Asset turnover | 0.07 | - | 0.08 | 0.07 | 0.08 | - | 0.08 | 0.08 | 0.08 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 40.1x | - | 43.2x | 62.1x | 52.4x | - | 45.8x | 48.2x | 41.6x | - |
| P / B | 1.6x | - | 2.1x | 2.7x | 2.6x | - | 2.1x | 2.1x | 2.2x | - |
| P / S | 4.2x | - | 5.2x | 7.6x | 6.7x | - | 5.6x | 5.3x | 5.8x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 44.8% | - | 27.1% | 14.3% | 24.0% | - | 90.3% | 33.0% | 73.6% | - |
| Revenue CAGR (3y) | 46.1% | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 20.7% | - | 29.2% | 23.4% | 9.5% | - | 68.6% | 61.3% | 138.2% | - |
| Net income growth (YoY) | 18.2% | - | 25.2% | 25.4% | 14.3% | - | - | 59.2% | 136.5% | - |
| EPS growth (YoY) | 7.9% | - | 23.6% | 24.0% | 12.2% | - | - | 47.1% | 114.3% | - |
| EPS CAGR (3y) | 37.4% | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 20.5% | - | - | - | 2.7% | - | - | - | 106.8% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 44.0% | 27.1% | 20.6% | 24.4% | 22.9% | 20.1% | 49.0% | 72.5% | 61.5% | 56.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$12.38M totalManaging General Insurance Agent And Broker Commission Revenue$8.32M · 67.2%
Managing General Insurance Agent And Broker Fee Icome$2.33M · 18.8%
Managing General Insurance Agent And Broker Other$1.73M · 13.9%
Peer comparison
Same SIC group: Fire, Marine & Casualty Insurance
Comparing Skyward Specialty Insurance Group against the 5 most active filers in the same SIC group.