Skyward Specialty Insurance Group Inc Financials
This page shows Skyward Specialty Insurance Group Inc (SKWD) financial statements, including the 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).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Skyward Specialty Insurance Group Inc's revenue surged 29.8% year-over-year to $1.2B, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Skyward Specialty Insurance Group Inc has elevated debt relative to equity (D/E of 3.70), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
Skyward Specialty Insurance Group Inc converts 26.2% of revenue into free cash flow ($300.9M). This strong cash generation earns a score of 100/100.
Skyward Specialty Insurance Group Inc's ROE of 15.0% shows moderate profitability relative to equity, earning a score of 60/100. This is up from 13.0% the prior year.
Skyward Specialty Insurance Group Inc passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Skyward Specialty Insurance Group Inc generates $2.57 in operating cash flow ($305.1M OCF vs $118.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Skyward Specialty Insurance Group Inc generated $1.2B in revenue in fiscal year 2024. This represents an increase of 29.8% from the prior year.
Skyward Specialty Insurance Group Inc generated $300.9M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 10.2% from the prior year.
Skyward Specialty Insurance Group Inc reported $118.8M in net income in fiscal year 2024. This represents an increase of 38.2% from the prior year.
Skyward Specialty Insurance Group Inc earned $2.87 per diluted share (EPS) in fiscal year 2024. This represents an increase of 28.1% from the prior year.
Skyward Specialty Insurance Group Inc held $121.6M in cash against $0 in long-term debt as of fiscal year 2024.
Skyward Specialty Insurance Group Inc had 40M shares outstanding in fiscal year 2024. This represents an increase of 0.7% from the prior year.
Skyward Specialty Insurance Group Inc's net profit margin was 10.3% in fiscal year 2024, showing the share of revenue converted to profit. This is up 0.6 percentage points from the prior year.
Skyward Specialty Insurance Group Inc's ROE was 15.0% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 2.0 percentage points from the prior year.
Skyward Specialty Insurance Group Inc invested $4.2M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 35.9% from the prior year.
SKWD Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $382.5M+19.6% | $319.9M-2.6% | $328.5M+7.9% | $304.4M+8.7% | $279.9M+5.7% | $265.0M+7.6% | $246.3M+3.0% | $239.2M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $1.9M+2.3% | $1.9M+2.3% | $1.8M-12.3% | $2.1M-14.6% | $2.4M-10.2% | $2.7M-1.7% | $2.8M+5.4% | $2.6M |
| Income Tax | $14.6M+33.7% | $11.0M+16.8% | $9.4M+126.1% | $4.1M-55.8% | $9.4M-7.9% | $10.2M+22.7% | $8.3M+36.5% | $6.1M |
| Net Income | $45.9M+18.2% | $38.8M-7.7% | $42.1M+191.9% | $14.4M-53.5% | $31.0M-15.8% | $36.8M+25.7% | $29.3M+34.8% | $21.7M |
| EPS (Diluted) | $1.10+18.3% | $0.93-7.9% | $1.01+206.1% | $0.33-56.0% | $0.75-16.7% | $0.90+21.6% | $0.74+29.8% | $0.57 |
SKWD Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.6B+5.9% | $4.3B+7.6% | $4.0B+8.1% | $3.7B+8.6% | $3.4B+7.8% | $3.2B+7.9% | $3.0B+3.6% | $2.9B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $160.1M+17.2% | $136.6M+21.0% | $112.9M-7.1% | $121.6M+66.6% | $73.0M-14.2% | $85.1M+29.1% | $65.9M+22.6% | $53.7M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | $65.7M | N/A | N/A | $65.7M | N/A |
| Total Liabilities | $3.6B+5.7% | $3.4B+8.1% | $3.2B+8.3% | $2.9B+8.2% | $2.7B+8.7% | $2.5B+8.8% | $2.3B-1.0% | $2.3B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $961.4M+6.8% | $899.9M+5.8% | $850.7M+7.1% | $794.0M+9.7% | $723.6M+4.5% | $692.3M+4.7% | $661.0M+23.5% | $535.4M |
| Retained Earnings | $223.9M+25.8% | $178.0M+27.9% | $139.2M+43.3% | $97.1M+110.9% | $46.0M+205.4% | $15.1M+169.4% | -$21.7M+57.4% | -$51.0M |
SKWD Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $171.4M+94.3% | $88.2M-8.9% | $96.8M+341.8% | $21.9M+4.5% | $21.0M-77.8% | $94.3M-21.2% | $119.6M+8.7% | $110.1M |
| Capital Expenditures | $2.5M+126.7% | $1.1M+437.1% | $202K-81.2% | $1.1M-57.1% | $2.5M+865.0% | $260K-91.6% | $3.1M+359.4% | -$1.2M |
| Free Cash Flow | $168.9M+93.9% | $87.1M-9.8% | $96.6M+363.7% | $20.8M+12.9% | $18.4M-80.4% | $94.0M-19.3% | $116.5M+7.1% | $108.9M |
| Investing Cash Flow | -$146.3M-113.5% | -$68.5M+32.0% | -$100.8M-540.6% | -$15.7M+43.7% | -$28.0M+60.0% | -$69.9M+62.4% | -$186.0M-69.5% | -$109.7M |
| Financing Cash Flow | $0 | $0 | $0-100.0% | $1K0.0% | $1K+100.0% | -$9.5M-114.9% | $63.4M+5695.1% | $1.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
SKWD Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 12.0%-0.1pp | 12.1%-0.7pp | 12.8%+8.1pp | 4.7%-6.3pp | 11.1%-2.8pp | 13.9%+2.0pp | 11.9%+2.8pp | 9.1% |
| Return on Equity | 4.8%+0.4pp | 4.3%-0.6pp | 4.9%+3.1pp | 1.8%-2.5pp | 4.3%-1.0pp | 5.3%+0.9pp | 4.4%+0.4pp | 4.1% |
| Return on Assets | 1.0%+0.1pp | 0.9%-0.1pp | 1.0%+0.7pp | 0.4%-0.5pp | 0.9%-0.3pp | 1.1%+0.2pp | 1.0%+0.2pp | 0.8% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 3.78-0.0 | 3.82+0.1 | 3.74+0.0 | 3.70-0.1 | 3.75+0.1 | 3.60+0.1 | 3.47-0.9 | 4.32 |
| FCF Margin | 44.2%+16.9pp | 27.2%-2.2pp | 29.4%+22.5pp | 6.8%+0.3pp | 6.6%-28.9pp | 35.5%-11.8pp | 47.3%+1.8pp | 45.5% |
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Frequently Asked Questions
What is Skyward Specialty Insurance Group Inc's annual revenue?
Skyward Specialty Insurance Group Inc (SKWD) reported $1.2B in total revenue for fiscal year 2024. This represents a 29.8% 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 Skyward Specialty Insurance Group Inc's revenue growing?
Skyward Specialty Insurance Group Inc (SKWD) revenue grew by 29.8% year-over-year, from $886.0M to $1.2B in fiscal year 2024.
Is Skyward Specialty Insurance Group Inc profitable?
Yes, Skyward Specialty Insurance Group Inc (SKWD) reported a net income of $118.8M in fiscal year 2024, with a net profit margin of 10.3%.
What is Skyward Specialty Insurance Group Inc's earnings per share (EPS)?
Skyward Specialty Insurance Group Inc (SKWD) reported diluted earnings per share of $2.87 for fiscal year 2024. This represents a 28.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Skyward Specialty Insurance Group Inc's net profit margin?
Skyward Specialty Insurance Group Inc (SKWD) had a net profit margin of 10.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Skyward Specialty Insurance Group Inc's return on equity (ROE)?
Skyward Specialty Insurance Group Inc (SKWD) has a return on equity of 15.0% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Skyward Specialty Insurance Group Inc's free cash flow?
Skyward Specialty Insurance Group Inc (SKWD) generated $300.9M in free cash flow during fiscal year 2024. This represents a -10.2% 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 Skyward Specialty Insurance Group Inc's operating cash flow?
Skyward Specialty Insurance Group Inc (SKWD) generated $305.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Skyward Specialty Insurance Group Inc's total assets?
Skyward Specialty Insurance Group Inc (SKWD) had $3.7B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Skyward Specialty Insurance Group Inc's capital expenditures?
Skyward Specialty Insurance Group Inc (SKWD) invested $4.2M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How many shares does Skyward Specialty Insurance Group Inc have outstanding?
Skyward Specialty Insurance Group Inc (SKWD) had 40M shares outstanding as of fiscal year 2024.
What is Skyward Specialty Insurance Group Inc's debt-to-equity ratio?
Skyward Specialty Insurance Group Inc (SKWD) had a debt-to-equity ratio of 3.70 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Skyward Specialty Insurance Group Inc's return on assets (ROA)?
Skyward Specialty Insurance Group Inc (SKWD) had a return on assets of 3.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Skyward Specialty Insurance Group Inc's Piotroski F-Score?
Skyward Specialty Insurance Group Inc (SKWD) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Skyward Specialty Insurance Group Inc's earnings high quality?
Skyward Specialty Insurance Group Inc (SKWD) has an earnings quality ratio of 2.57x, 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 Skyward Specialty Insurance Group Inc?
Skyward Specialty Insurance Group Inc (SKWD) scores 65 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.