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Skyward Specialty Insurance Group, Inc.

SKWD Nasdaq Fire, Marine & Casualty Insurance Financials FY2021–FY2025

Revenue Total sales reported in the income statement.
$1.4B
23.2% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$170M
43.1%
Free cash flow Cash from operations minus capital spending.
$403M
33.8%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
—
P/E Last close divided by diluted earnings per share over the last four quarters.
—
On $4.29 EPS (TTM)

What Skyward Specialty Insurance Group, Inc. does

No business description yet.

Legal name
Skyward Specialty Insurance Group, Inc.
Fiscal year ends
December 31, 2025
Latest annual report
10-K · Mar 2, 2026
Accession · CIK
0001519449-26-000015
0001519449

Revenue and margins

Skyward Specialty Insurance Group, Inc. had $1.4B of revenue in fiscal 2025, up 23.2% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2021 to 2025, diluted EPS grew 36.3% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $403M in fiscal 2025, 28.4% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Skyward Specialty Insurance Group, Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 1.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Balance sheet

Cash, debt and the ratios that show how comfortably Skyward Specialty Insurance Group, Inc. can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $42.1M$45.4M$65.9M$122M$169M
Total assets $2.1B$2.4B$3.0B$3.7B$4.8B
Total liabilities $1.7B$1.9B$2.3B$2.9B$3.8B
Shareholders' equity $426M$422M$661M$794M$1.0B
Net debt (− = net cash) —————

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY21FY22FY23FY24FY25
Net income is positive ✓ ✓ ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓ ✓ ✓
Return on assets rose — ✕ ✓ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓ ✓ ✓
Debt fell relative to assets — — — — —
Current ratio rose — — — — —
Share count didn't rise — ✕ ✕ ✕ ✕
Gross margin rose — — — — —
Revenue rose relative to assets — ✓ ✓ ✓ ✕
F-score — / 3— / 6— / 6— / 6— / 6
Accruals ratio −6.5%−7.6%−9.5%−5.6%−5.6%
Altman Z'' —————

5 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY21FY22FY23FY24FY25
Income statement
Revenue $550M $642M $886M $1.2B $1.4B
Noninterest income — — $6.1M $6.7M $6.9M
Interest expense $4.6M $6.4M $10.0M $9.5M $7.9M
Pretax income $48.3M $49.8M $110M $153M $216M
Income tax $10.0M $10.4M $24.1M $33.9M $46.4M
Net income $38.3M $39.4M $86.0M $119M $170M
Net income to common $19.8M $20.5M $84.3M $119M $170M
Diluted EPS $1.18 $1.21 $2.24 $2.87 $4.07
Diluted shares 0.03B 0.03B 0.04B 0.04B 0.04B
Cash flow
Cash from operations $175M $209M $338M $305M $408M
Capital expenditure $2.2M $2.3M $3.1M $4.2M $5.5M
Free cash flow $173M $207M $335M $301M $403M
Depreciation and amortization $5.6M $4.1M $3.9M $3.4M $3.5M
Stock-based compensation $0.5M $2.3M $8.5M $9.4M $12.0M
Balance sheet
Cash and short-term investments $42.1M $45.4M $65.9M $122M $169M
Property and equipment, net $9.6M $8.7M $9.1M $12.2M $15.1M
Goodwill $65.7M $65.7M $65.7M $65.7M $65.7M
Intangible assets $25.6M $24.1M $22.7M $21.6M $22.3M
Total assets $2.1B $2.4B $3.0B $3.7B $4.8B
Total liabilities $1.7B $1.9B $2.3B $2.9B $3.8B
Preferred stock $0.0M $0.0M $0.0M — —
Shareholders' equity $426M $422M $661M $794M $1.0B
Margins
Net margin 7.0% 6.1% 9.7% 10.3% 12.0%
FCF margin 31.5% 32.2% 37.8% 26.2% 28.4%
Returns
Return on equity 9.0% 9.3% 15.9% 16.3% 18.9%
Return on assets 1.8% 1.8% 3.2% 3.6% 4.0%
Return on tangible equity 5.9% 6.2% 14.7% 16.8% 18.5%
Growth
Revenue growth — 16.8% 37.9% 29.8% 23.2%
Net income growth — 2.8% 118.3% 38.2% 43.1%
EPS growth — 2.5% 85.1% 28.1% 41.8%
FCF growth — 19.3% 62.2% −10.2% 33.8%
Share count change — 0.6% 17.3% 8.0% 1.0%
Capital allocation
Capex / revenue 0.4% 0.4% 0.4% 0.4% 0.4%
Stock comp / revenue 0.1% 0.4% 1.0% 0.8% 0.8%
Quality scores
Accruals ratio −6.5% −7.6% −9.5% −5.6% −5.6%

Source: SEC EDGAR XBRL filings (CIK 0001519449). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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