Skyward Specialty Insurance Group, Inc. (SKWD) 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 Oct 7, 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 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SKWD SEC filings page.
Skyward Specialty Insurance Group, Inc. (SKWD) reported $1.4B in revenue for fiscal year 2025, up 23.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
Skyward has paired rapid scale with improving profit conversion while operating with a liability-funded, lightly capital-intensive balance sheet.
In FY2025, operating cash flow of$408M and free cash flow of$403M nearly matched. Net income was$170M , far below both cash measures, while capital expenditures were only$5M ; cash generation therefore reflects substantial operating timing effects and little equipment reinvestment.
By FY2025, revenue had reached
Equity climbed from
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 Skyward Specialty Insurance Group, 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.
Not available for Skyward Specialty Insurance Group, Inc., and counted as zero in the overall score.
Skyward Specialty Insurance Group, Inc. reported revenue of $1.4B in fiscal year 2025, against $1.2B in fiscal year 2024. Premium Growth ranks insurers on the three-year path of the premiums they write rather than on total revenue, and Skyward Specialty Insurance Group, Inc. scores 86/100 among other insurers.
Skyward Specialty Insurance Group, Inc. funded 21.1% of its assets with shareholders' equity at the end of fiscal year 2025, holding $1.0B of equity against $4.8B of assets. Capital ranks insurers on that cushion, and Skyward Specialty Insurance Group, Inc. scores 37/100 among other insurers.
Not available for Skyward Specialty Insurance Group, 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. Skyward Specialty Insurance Group, Inc. scores 70/100 on it among other insurers.
Skyward Specialty Insurance Group, Inc. reported net income of $170.0M in fiscal year 2025, against $118.8M in fiscal year 2024. Stability ranks insurers on how steady net income has been across five years, and Skyward Specialty Insurance Group, Inc. scores 57/100 among other insurers.
Skyward Specialty Insurance Group, Inc. passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Skyward Specialty Insurance Group, Inc. generates $2.40 in operating cash flow ($408.1M OCF vs $170.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Skyward Specialty Insurance Group, Inc. generated $489.5M in revenue in Q2 2026. This represents an increase of 53.0% from the same quarter a year earlier. Against the prior quarter it is up 2.9%.
Skyward Specialty Insurance Group, Inc. reported $49.0M in net income in Q2 2026. This represents an increase of 26.3% from the same quarter a year earlier. Against the prior quarter it is down 1.4%.
Skyward Specialty Insurance Group, Inc. earned $1.07 per diluted share (EPS) in Q2 2026. This represents an increase of 15.1% from the same quarter a year earlier. Against the prior quarter it is down 1.8%.
Not reported for Q2 2026.
Cash & Balance Sheet
Skyward Specialty Insurance Group, Inc. held $219.2M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Skyward Specialty Insurance Group, Inc.'s net profit margin was 10.0% in Q2 2026, showing the share of revenue converted to profit. This is down 2.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.4 percentage points.
Skyward Specialty Insurance Group, Inc.'s ROE was 3.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.2 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Skyward Specialty Insurance Group, Inc. spent $10.8M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is up 24.2%.
Not reported for Q2 2026.
Not reported for Q2 2026.
SKWD 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 | $489.5M+53.0% | $475.9M+44.8% | $385.6M+26.7% | $382.5M+27.1% | $319.9M+14.3% | $328.5M+24.0% | $304.4M+23.6% | $300.9M+25.8% |
| SG&A Expenses | $4.4M+35.4% | N/A | N/A | N/A | $3.2M | $3.9M | N/A | N/A |
| Interest Expense | $8.8M+369.7% | $7.7M+320.9% | $2.3M+9.5% | $1.9M-13.9% | $1.9M-23.4% | $1.8M-32.7% | $2.1M-24.6% | $2.2M-15.3% |
| Income Tax | $14.5M+32.5% | $12.3M+31.7% | $11.4M+175.2% | $14.6M+43.8% | $11.0M+16.7% | $9.4M-8.0% | $4.1M-50.0% | $10.2M+67.4% |
| Net Income | $49.0M+26.3% | $49.7M+18.2% | $43.2M+200.1% | $45.9M+25.2% | $38.8M+25.4% | $42.1M+14.3% | $14.4M-50.8% | $36.7M+68.9% |
| EPS (Basic) | $1.10+14.6% | $1.12+6.7% | $1.07+197.2% | $1.13+24.2% | $0.96+21.5% | $1.05+11.7% | $0.36-53.8% | $0.91+54.2% |
| EPS (Diluted) | $1.07+15.1% | $1.09+7.9% | $1.04+205.9% | $1.10+23.6% | $0.93+24.0% | $1.01+12.2% | $0.34-54.1% | $0.89+56.1% |
| Diluted Shares (Avg) | 46M+9.1% | 45M+9.0% | N/A | 42M+1.1% | 42M+1.7% | 42M+1.4% | N/A | 41M+7.9% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.
SKWD 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 | $6.8B+56.4% | $6.5B+62.4% | $4.8B+28.5% | $4.6B+27.7% | $4.3B+26.2% | $4.0B+26.5% | $3.7B+26.3% | $3.6B+26.2% |
| Cash & Equivalents | $219.2M+60.5% | $255.9M+126.6% | $168.5M+38.6% | $160.1M+51.6% | $136.6M+87.2% | $112.9M+32.8% | $121.6M+84.6% | $105.6M+96.5% |
| Short-Term Investments | $392.6M+83.2% | $386.5M+25.5% | $264.3M-3.9% | $247.4M+19.9% | $214.3M-0.3% | $308.0M+3.4% | $274.9M+1.7% | $206.4M+6.3% |
| Long-Term Investments | $52.3M+17.6% | $50.3M+33.6% | $58.6M+76.8% | $50.1M+110.4% | $44.5M+1569.0% | $37.6M+1740.9% | $33.2M+761.4% | $23.8M-79.4% |
| Goodwill | $191.1M+190.8% | $191.1M+190.8% | $65.7M0.0% | N/A | $65.7M | $65.7M | $65.7M0.0% | N/A |
| Total Liabilities | $5.5B+60.4% | $5.3B+67.4% | $3.8B+28.8% | $3.6B+29.7% | $3.4B+26.7% | $3.2B+27.5% | $2.9B+28.1% | $2.8B+21.0% |
| Total Equity | $1.3B+40.9% | $1.2B+44.0% | $1.0B+27.1% | $961.4M+20.6% | $899.9M+24.4% | $850.7M+22.9% | $794.0M+20.1% | $797.5M+49.0% |
| Retained Earnings | $365.9M+105.6% | $316.9M+127.7% | $267.1M+175.1% | $223.9M+170.7% | $178.0M+286.6% | $139.2M+823.2% | $97.1M+547.4% | $82.7M+262.3% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities, Non-Current Liabilities, Long-Term Debt.
SKWD 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 | $67.6M-23.3% | $116.5M+20.4% | $51.8M+136.4% | $171.4M+2.0% | $88.2M+320.8% | $96.8M+2.6% | $21.9M-81.7% | $168.0M+52.6% |
| Capital Expenditures | N/A | N/A | $1.7M+58.6% | $2.5M+549.1% | $1.1M-56.8% | $202K-22.3% | $1.1M-65.4% | $379K-68.4% |
| Free Cash Flow | N/A | N/A | $50.1M+140.4% | $168.9M+0.8% | $87.1M+372.2% | $96.6M+2.7% | $20.8M-82.1% | $167.6M+54.0% |
| Investing Cash Flow | -$20.8M+69.7% | -$361.8M-259.0% | -$51.3M-226.3% | -$146.3M-12.4% | -$68.5M-145.1% | -$100.8M-44.2% | -$15.7M+91.5% | -$130.1M-18.6% |
| Financing Cash Flow | -$60.8M | $362.6M | $411K+41000.0% | $0-100.0% | $0-100.0% | $0+100.0% | $1K-100.0% | $5.2M+378.2% |
| Share Buybacks | $10.8M | $8.7M | N/A | N/A | $0 | $0 | N/A | N/A |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Dividends Paid.
SKWD 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 | 10.0%-2.1pp | 10.4%-2.4pp | 11.2%+6.5pp | 12.0%-0.2pp | 12.1%+1.1pp | 12.8%-1.1pp | 4.7%-7.2pp | 12.2%+3.1pp |
| Return on Equity | 3.9%-0.5pp | 4.1%-0.9pp | 4.3%+2.5pp | 4.8%+0.2pp | 4.3%0.0pp | 4.9%-0.4pp | 1.8%-2.6pp | 4.6%+0.5pp |
| Return on Assets | 0.7%-0.2pp | 0.8%-0.3pp | 0.9%+0.5pp | 1.0%0.0pp | 0.9%0.0pp | 1.0%-0.1pp | 0.4%-0.6pp | 1.0%+0.3pp |
| Debt-to-Equity | 4.35+0.5x | 4.35+0.6x | 3.750.0x | 3.78+0.3x | 3.82+0.1x | 3.74+0.1x | 3.70+0.2x | 3.51-0.8x |
| Asset Turnover | 0.070.0x | 0.070.0x | 0.080.0x | 0.080.0x | 0.070.0x | 0.080.0x | 0.080.0x | 0.080.0x |
| FCF Margin | N/A | N/A | 13.0%+6.1pp | 44.2%-11.6pp | 27.2%+20.6pp | 29.4%-6.1pp | 6.8%-40.5pp | 55.7%+10.2pp |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.
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 |
|---|---|---|---|---|---|---|
| Skyward Specialty Insurance Group, Inc. SKWD | FY2025 | $1.4B | $170.0M | 12.0% | $2.5B | 42/100 |
| Horace Mann Educators Corporation HMN | FY2025 | $1.7B | $162.1M | 9.5% | $1.8B | 25/100 |
| Trupanion, Inc. TRUP | FY2025 | $1.4B | $19.4M | 1.4% | $1.1B | 19/100 |
| ProAssurance Corporation PRA | FY2025 | $1.1B | $50.9M | 4.6% | $1.3B | 24/100 |
| Root, Inc. ROOT | FY2025 | $1.5B | $40.0M | 2.6% | $734.7M | 26/100 |
| Bowhead Specialty Holdings Inc. BOW | FY2025 | $551.6M | $53.8M | 9.8% | $1.1B | 48/100 |
Where Skyward Specialty Insurance Group, Inc. Ranks
Frequently Asked Questions
What is Skyward Specialty Insurance Group, Inc.'s annual revenue?
Skyward Specialty Insurance Group, Inc. (SKWD) reported $1.4B in total revenue for fiscal year 2025. This represents a 23.2% 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 23.2% year-over-year, from $1.2B to $1.4B in fiscal year 2025.
Is Skyward Specialty Insurance Group, Inc. profitable?
Yes, Skyward Specialty Insurance Group, Inc. (SKWD) reported a net income of $170.0M in fiscal year 2025, with a net profit margin of 12.0%.
What is Skyward Specialty Insurance Group, Inc.'s net profit margin?
Skyward Specialty Insurance Group, Inc. (SKWD) had a net profit margin of 12.0% in fiscal year 2025, 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 16.8% for fiscal year 2025, 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 $402.6M in free cash flow during fiscal year 2025. This represents a 33.8% 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 $408.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Skyward Specialty Insurance Group, Inc.'s total assets?
Skyward Specialty Insurance Group, Inc. (SKWD) had $4.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Skyward Specialty Insurance Group, Inc.'s capital expenditures?
Skyward Specialty Insurance Group, Inc. (SKWD) invested $5.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
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 3.75 as of fiscal year 2025, 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 3.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Skyward Specialty Insurance Group, Inc.'s P/E ratio?
Skyward Specialty Insurance Group, Inc. (SKWD) trades at 13.3x earnings, its market capitalization divided by net income of $187.9M net income, trailing 12 months to June 30, 2026. The market capitalization is $2.5B as of Oct 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Skyward Specialty Insurance Group, Inc.'s price-to-sales ratio?
Skyward Specialty Insurance Group, Inc. (SKWD) trades at 1.4x sales, its market capitalization divided by revenue of $1.7B revenue, trailing 12 months to June 30, 2026. The market capitalization is $2.5B as of Oct 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Skyward Specialty Insurance Group, Inc.'s Piotroski F-Score?
Skyward Specialty Insurance Group, Inc. (SKWD) has a Piotroski F-Score of 4 out of 6 computable signals; 3 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 Skyward Specialty Insurance Group, Inc.'s earnings high quality?
Skyward Specialty Insurance Group, Inc. (SKWD) has an earnings quality ratio of 2.40x, 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 42 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.