Bowhead Specialty Holdings Inc. (BOW) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 3, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BOW SEC filings page.
Bowhead Specialty Holdings Inc. (BOW) reported $615.2M in revenue over the twelve months to Jun 30, 2026, up 25.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Asset expansion is absorbing growth while modest capital spending keeps reported free cash flow close to operating cash flow.
From FY2023 to FY2025, net margin rose from8.8% to9.8% , while free-cash-flow margin fell from82.0% to59.1% . Profitability improved, but cash generated per revenue dollar compressed as total assets expanded from$1.0B to$2.4B , indicating growth has required a progressively larger balance-sheet platform.
In FY2025, operating cash flow of
Investing outflows reached
Financial Health Signals
Scored against insurers for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Bowhead Specialty Holdings Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Loss Ratio measures the claims an insurer paid out against the premiums it earned, so a lower ratio leaves more of every premium dollar with the company. Bowhead Specialty Holdings Inc. scores 44/100 on it among other insurers.
Bowhead Specialty Holdings Inc. reported revenue of $551.6M in fiscal year 2025, against $425.7M in fiscal year 2024. Premium Growth ranks insurers on the three-year path of the premiums they write rather than on total revenue, and Bowhead Specialty Holdings Inc. scores 88/100 among other insurers.
Bowhead Specialty Holdings Inc. funded 18.9% of its assets with shareholders' equity at the end of fiscal year 2025, holding $448.3M of equity against $2.4B of assets. Capital ranks insurers on that cushion, and Bowhead Specialty Holdings Inc. scores 31/100 among other insurers.
Not available for Bowhead Specialty Holdings Inc., and counted as zero in the overall score.
Combined Ratio puts claims and running costs together against premiums earned, and a figure under 100% means the underwriting made money before any investment income was counted. Bowhead Specialty Holdings Inc. scores 60/100 on it among other insurers.
Bowhead Specialty Holdings Inc. reported net income of $53.8M in fiscal year 2025, against $38.2M in fiscal year 2024. Stability ranks insurers on how steady net income has been across five years, and Bowhead Specialty Holdings Inc. scores 62/100 among other insurers.
Bowhead Specialty Holdings Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Bowhead Specialty Holdings Inc. generates $6.16 in operating cash flow ($331.6M OCF vs $53.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Bowhead Specialty Holdings Inc. generated $163.9M in revenue in Q2 2026. This represents an increase of 23.0% from the same quarter a year earlier. Against the prior quarter it is up 5.2%.
Bowhead Specialty Holdings Inc. reported $16.1M in net income in Q2 2026. This represents an increase of 30.8% from the same quarter a year earlier. Against the prior quarter it is up 0.8%.
Bowhead Specialty Holdings Inc. earned $0.48 per diluted share (EPS) in Q2 2026. This represents an increase of 33.3% from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q2 2026.
Cash & Balance Sheet
Bowhead Specialty Holdings Inc. generated $92.5M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 13.9% from the same quarter a year earlier. Against the prior quarter it is up 44.2%.
Bowhead Specialty Holdings Inc. held $141.7M in cash against $146.6M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Bowhead Specialty Holdings Inc.'s net profit margin was 9.8% in Q2 2026, showing the share of revenue converted to profit. This is up 0.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.4 percentage points.
Bowhead Specialty Holdings Inc.'s ROE was 3.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.1 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Bowhead Specialty Holdings Inc. invested $1.4M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 13.2% from the same quarter a year earlier. Against the prior quarter it is up 5.3%.
Not reported for Q2 2026.
Not reported for Q2 2026.
BOW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $163.9M+23.0% | $155.7M+26.9% | $151.7M+27.1% | $143.9M+23.3% | $133.3M+34.7% | $122.7M+35.3% | $119.3M | $116.8M+53.4% |
| Interest Expense | $3.3M+1151.3% | $3.2M+1180.2% | $1.2M+398.8% | $262K+4.0% | $261K+16.5% | $247K | $249K | $252K |
| Income Tax | $4.5M+26.6% | $4.6M+49.8% | $3.0M-36.2% | $3.9M+5.4% | $3.6M+90.4% | $3.0M+49.0% | $4.6M | $3.7M+45.9% |
| Net Income | $16.1M+30.8% | $16.0M+40.1% | $14.8M+9.1% | $15.2M+25.5% | $12.3M+123.1% | $11.4M+62.9% | $13.6M | $12.1M+38.9% |
| EPS (Basic) | $0.49+28.9% | $0.49+40.0% | $0.45+4.7% | $0.46+24.3% | $0.38+90.0% | $0.35+20.7% | $0.43+115.0% | $0.37+2.8% |
| EPS (Diluted) | $0.48+33.3% | $0.48+41.2% | $0.44+4.8% | $0.45+25.0% | $0.36+80.0% | $0.34 | $0.42+110.0% | $0.360.0% |
| Diluted Shares (Avg) | 34M-1.4% | 33M-1.3% | N/A | 34M+1.2% | 34M+22.6% | 34M | N/A | 33M+38.6% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA.
BOW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.7B+38.1% | $2.5B+41.4% | $2.4B+43.4% | $2.1B+35.3% | $1.9B+39.2% | $1.8B | $1.7B+60.9% | $1.5B |
| Cash & Equivalents | $141.7M+23.5% | $97.2M+10.4% | $193.5M+98.6% | $197.9M+48.9% | $114.8M-36.3% | $88.0M+19.8% | $97.5M-17.4% | $132.9M+4.9% |
| Short-Term Investments | $0 | $5.0M-50.2% | $0-100.0% | $0-100.0% | $0-100.0% | $10.0M | $10.0M+13.3% | $10.0M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $2.2B+43.9% | $2.0B+48.4% | $1.9B+49.7% | $1.7B+40.6% | $1.5B+45.4% | $1.4B | $1.3B+53.6% | $1.2B |
| Long-Term Debt | $146.6M | $146.5M | $146.4M | N/A | N/A | N/A | $0 | N/A |
| Total Equity | $472.4M+16.0% | $457.9M+17.1% | $448.3M+21.1% | $430.2M+18.0% | $407.2M+19.8% | $391.0M | $370.2M+92.7% | $364.7M |
| Retained Earnings | $148.8M+71.7% | $132.7M+78.5% | $116.7M+85.5% | $101.9M+106.6% | $86.7M+132.9% | $74.3M | $62.9M+155.0% | $49.3M |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities.
BOW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $93.9M-13.9% | $65.5M+37.2% | $60.1M-2.1% | $114.7M-3.9% | $109.0M+52.4% | $47.7M+13.9% | $61.4M+0.1% | $119.4M+35.3% |
| Depreciation & Amortization | $712K+100.0% | $617K+53.9% | $560K-49.1% | $462K-56.0% | $356K-62.9% | $401K-47.2% | $1.1M+35.8% | $1.0M+34.7% |
| Stock-Based Compensation | N/A | $2.4M+81.3% | N/A | N/A | N/A | $1.3M+479.1% | N/A | N/A |
| Capital Expenditures | $1.4M-13.2% | $1.3M+4.5% | $1.5M+198.4% | $1.3M+25.4% | $1.6M+97.5% | $1.2M+52.6% | $507K-45.1% | $1.0M-7.6% |
| Free Cash Flow | $92.5M-13.9% | $64.2M+38.0% | $58.6M-3.7% | $113.5M-4.2% | $107.4M+51.9% | $46.5M+13.1% | $60.9M+0.8% | $118.4M+35.9% |
| Investing Cash Flow | -$69.2M-4.6% | -$156.9M-7.2% | -$221.7M-19293.8% | -$30.2M+80.7% | -$66.2M+25.7% | -$146.3M-84.9% | -$1.1M+98.9% | -$156.6M-166.2% |
| Financing Cash Flow | -$1.4M | -$789K | $144.5M+225706.3% | $0 | $0-100.0% | $0-100.0% | $64K-99.7% | $0-100.0% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
BOW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | 9.8%+0.6pp | 10.3%+1.0pp | 9.8%-1.6pp | 10.5%+0.2pp | 9.3%+3.7pp | 9.3%+1.6pp | 11.4% | 10.4%-1.1pp |
| Return on Equity | 3.4%+0.4pp | 3.5%+0.6pp | 3.3%-0.4pp | 3.5%+0.2pp | 3.0%+1.4pp | 2.9% | 3.7% | 3.3% |
| Return on Assets | 0.6%0.0pp | 0.7%0.0pp | 0.6%-0.2pp | 0.7%-0.1pp | 0.6%+0.2pp | 0.7% | 0.8% | 0.8% |
| Debt-to-Equity | 0.31-3.5x | 0.32-3.2x | 0.33+0.3x | 3.87+0.6x | 3.77+0.7x | 3.48 | 0.00-4.4x | 3.24 |
| Asset Turnover | 0.060.0x | 0.060.0x | 0.060.0x | 0.070.0x | 0.070.0x | 0.07 | 0.07 | 0.08 |
| FCF Margin | 56.5%-24.1pp | 41.2%+3.3pp | 38.7%-12.4pp | 78.8% | 80.6%+9.1pp | 37.9%-7.4pp | 51.0% | 101.4% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Bowhead Specialty Holdings Inc. BOW | FY2025 | $551.6M | $53.8M | 9.8% | $1.1B | 48/100 |
| Hippo Holdings Inc. HIPO | FY2025 | $468.6M | $62.6M | 13.4% | $844.5M | 33/100 |
| ProAssurance Corporation PRA | FY2025 | $1.1B | $50.9M | 4.6% | $1.3B | 24/100 |
| Safety Insurance Group Inc SAFT | FY2025 | $1.3B | $99.3M | 7.8% | $1.5B | 45/100 |
| United Fire Group Inc. UFCS | FY2025 | $1.4B | $118.2M | 8.5% | $1.4B | 41/100 |
| UNIVERSAL INSURANCE HLDG, INC. UVE | FY2025 | $1.6B | $183.0M | 11.4% | $1.2B | 28/100 |
Where Bowhead Specialty Holdings Inc. Ranks
Frequently Asked Questions
What is Bowhead Specialty Holdings Inc.'s annual revenue?
Bowhead Specialty Holdings Inc. (BOW) reported $551.6M in total revenue for fiscal year 2025. This represents a 29.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Bowhead Specialty Holdings Inc.'s revenue growing?
Bowhead Specialty Holdings Inc. (BOW) revenue grew by 29.6% year-over-year, from $425.7M to $551.6M in fiscal year 2025.
Is Bowhead Specialty Holdings Inc. profitable?
Yes, Bowhead Specialty Holdings Inc. (BOW) reported a net income of $53.8M in fiscal year 2025, with a net profit margin of 9.8%.
How much debt does Bowhead Specialty Holdings Inc. have?
As of fiscal year 2025, Bowhead Specialty Holdings Inc. (BOW) had $193.5M in cash and equivalents against $146.4M in long-term debt.
What is Bowhead Specialty Holdings Inc.'s net profit margin?
Bowhead Specialty Holdings Inc. (BOW) had a net profit margin of 9.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Bowhead Specialty Holdings Inc.'s return on equity (ROE)?
Bowhead Specialty Holdings Inc. (BOW) has a return on equity of 12.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Bowhead Specialty Holdings Inc.'s free cash flow?
Bowhead Specialty Holdings Inc. (BOW) generated $326.0M in free cash flow during fiscal year 2025. This represents a 12.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Bowhead Specialty Holdings Inc.'s operating cash flow?
Bowhead Specialty Holdings Inc. (BOW) generated $331.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Bowhead Specialty Holdings Inc.'s total assets?
Bowhead Specialty Holdings Inc. (BOW) had $2.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Bowhead Specialty Holdings Inc.'s capital expenditures?
Bowhead Specialty Holdings Inc. (BOW) invested $5.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Bowhead Specialty Holdings Inc.'s debt-to-equity ratio?
Bowhead Specialty Holdings Inc. (BOW) had a debt-to-equity ratio of 0.33 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Bowhead Specialty Holdings Inc.'s return on assets (ROA)?
Bowhead Specialty Holdings Inc. (BOW) had a return on assets of 2.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Bowhead Specialty Holdings Inc.'s P/E ratio?
Bowhead Specialty Holdings Inc. (BOW) trades at 17.9x earnings, its market capitalization divided by net income of $62.2M net income, trailing 12 months to June 30, 2026. The market capitalization is $1.1B as of Sep 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Bowhead Specialty Holdings Inc.'s price-to-sales ratio?
Bowhead Specialty Holdings Inc. (BOW) trades at 1.8x sales, its market capitalization divided by revenue of $615.2M revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.1B as of Sep 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Bowhead Specialty Holdings Inc.'s Piotroski F-Score?
Bowhead Specialty Holdings Inc. (BOW) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Bowhead Specialty Holdings Inc.'s earnings high quality?
Bowhead Specialty Holdings Inc. (BOW) has an earnings quality ratio of 6.16x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Bowhead Specialty Holdings Inc.?
Bowhead Specialty Holdings Inc. (BOW) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its insurers peer group. The score is a 0-100 composite of six dimensions (Loss Ratio, Premium Growth, Capital, Investment Yield, Combined Ratio, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.