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Skyward Specialty Insurance Group, Inc.(SKWD)Earnings, Financials & Key Ratios
SKWD•NASDAQ•Insurance & Managed Care
12.4× P/E·Price updated Jun 19, 2026
SectorFinancial ServicesIndustryProperty & Casualty InsuranceSub-IndustrySpecialty and excess surplus insurers
AboutSkyward Specialty Insurance Group, Inc., an insurance holding company, engages in underwriting commercial property and casualty insurance coverages in the United States. The company offers general liability, excess liability, professional liability, commercial auto, group accident and health, property, surety, and workers' compensation insurance products. Skyward Specialty Insurance Group, Inc. was incorporated in 2006 and is headquartered in Houston, Texas.Show more
- Revenue$1.41B+23.2%
- Combined Ratio84.94%-2.0%
- Net Income$170M+43.1%
- Return on Equity18.85%+15.4%
- Medical Cost Ratio56.24%-21.3%
- Operating Margin15.31%+15.0%
- Net Margin12.03%+16.2%
- ROA3.99%+12.2%
- Equity / Assets21.07%-1.0%
SKWD Key Insights
Skyward Specialty Insurance Group, Inc. (SKWD) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Profitable underwriting: 84.9% combined ratio
- ✓Low loss ratio of 56.2%
- ✓Good 3Y average ROE of 17.0%
✗Weaknesses
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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SKWD Price & Volume
Skyward Specialty Insurance Group, Inc. (SKWD) stock price & volume — 10-year historical chart
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SKWD Growth Metrics
Skyward Specialty Insurance Group, Inc. (SKWD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years25.84%
3 Years30.48%
TTM21.13%
Profit CAGR
10 Years-
5 Years-
3 Years62.81%
TTM40.1%
EPS CAGR
10 Years-
5 Years-
3 Years57.09%
TTM38.67%
Return on Capital
10 Years5.42%
5 Years9.93%
3 Years11.43%
Last Year9.7%
SKWD Recent Earnings
Skyward Specialty Insurance Group, Inc. (SKWD) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 6/12 qtrs (55%)
Q2 2026Latest
May 6, 2026Metric
Actual
Est
EPS
$1.25+12.6%
$1.11
Rev
$668M+0.4%
$665M
Q1 2026
Feb 23, 2026Metric
Actual
Est
EPS
$1.17+21.9%
$0.96
Rev
$440M+1.3%
$434M
Q4 2025
Oct 29, 2025Metric
Actual
Est
EPS
$0.71-16.5%
$0.85
Rev
$382M+0.5%
$380M
Q3 2025
Jul 30, 2025Metric
Actual
Est
EPS
$0.89+3.5%
$0.86
Rev
$321M-4.3%
$335M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 6, 2026 | $1.25vs $1.11+12.6% | $668Mvs $665M+0.4% |
| Q1 2026 | Feb 23, 2026 | $1.17vs $0.96+21.9% | $440Mvs $434M+1.3% |
| Q4 2025 | Oct 29, 2025 | $0.71vs $0.85-16.5% | $382Mvs $380M+0.5% |
| Q3 2025 | Jul 30, 2025 | $0.89vs $0.86+3.5% | $321Mvs $335M-4.3% |
Based on last 12 quarters of dataView full earnings history →
SKWD Peer Comparison
Skyward Specialty Insurance Group, Inc. (SKWD) competitors in Specialty and excess surplus insurers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 JRVR | 181.58M | 3.95 | 5 | -2.83% | 4.34% | 4.72% | 0.49 | |
 HRTG | 706.24M | 23.27 | 3.68 | 3.71% | 25.99% | 43.68% | 0.20 | |
 ACGL | 32.48B | 91.18 | 7.85 | 14.27% | 22.07% | 19.02% | 0.11 | |
 RLI | 4.88B | 53.09 | 12.18 | 6.33% | 20.8% | 22% | 0.06 | |
 KNSL | 7.15B | 308.85 | 14.27 | 18.04% | 27.48% | 28.05% | 0.11 | |
 HIG | 35.27B | 128.25 | 9.63 | 7.1% | 14.13% | 22.01% | 0.23 | |
 WRB | 25.16B | 67.18 | 15.10 | 7.82% | 12.1% | 18.86% | 0.29 | |
 MKL | 23.11B | 1847.16 | 10.92 | -0.96% | 10.7% | 9.56% | 0.23 |
Compare SKWD vs Peers
Skyward Specialty Insurance Group, Inc. (SKWD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
SKWD Income Statement
Skyward Specialty Insurance Group, Inc. (SKWD) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'13 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
Revenue | 218.24M | 447.89M | 535.82M | 636.4M | 895.4M | 1.15B | 1.41B |
Revenue Growth % | - | 105.23% | 19.63% | 18.77% | 40.7% | 28.17% | 23.18% |
Medical Costs & Claims | 0 | 399.15M | 401.47M | 468.21M | 623.75M | 819.78M | 795.02M |
Medical Cost Ratio % | 0% | 89.12% | 74.93% | 73.57% | 69.66% | 71.43% | 56.24% |
Gross Profit | 218.24M▲ 0% | 48.73M▼ 77.7% | 134.35M▲ 175.7% | 168.2M▲ 25.2% | 271.65M▲ 61.5% | 327.89M▲ 20.7% | 622.11M▲ 89.7% |
Gross Margin % | 100% | 10.88% | 25.07% | 26.43% | 30.34% | 28.57% | 44.01% |
Gross Profit Growth % | - | -77.67% | 175.68% | 25.19% | 61.51% | 20.7% | 89.73% |
Operating Expenses | 197.19M | 143.27M | 86.04M | 118.42M | 161.55M | 175.15M | 405.68M |
OpEx / Revenue % | 90.36% | 31.99% | 16.06% | 18.61% | 18.04% | 15.26% | 28.7% |
Depreciation & Amortization | -21.05M | 5.99M | 5.6M | 4.1M | 3.89M | 3.36M | 3.54M |
Combined Ratio % | 90.36% | 121.11% | 90.98% | 92.18% | 87.7% | 86.69% | 84.94% |
Operating Income | 21.05M▲ 0% | -94.53M▼ 549.2% | 48.31M▲ 151.1% | 49.78M▲ 3.1% | 110.1M▲ 121.2% | 152.74M▲ 38.7% | 216.42M▲ 41.7% |
Operating Margin % | 9.64% | -21.11% | 9.02% | 7.82% | 12.3% | 13.31% | 15.31% |
Operating Income Growth % | - | -549.17% | 151.1% | 3.05% | 121.16% | 38.73% | 41.7% |
EBITDA | 0 | -88.55M | 53.91M | 53.88M | 113.99M | 156.1M | 219.96M |
EBITDA Margin % | 0% | -19.77% | 10.06% | 8.47% | 12.73% | 13.6% | 15.56% |
Interest Expense | 0 | 5.53M | 4.62M | 6.41M | 10.02M | 9.5M | 7.92M |
Non-Operating Income | 4.31M | -5.53M | -4.62M | -6.41M | -10.02M | -9.5M | -7.92M |
Pretax Income | 16.74M▲ 0% | -94.53M▼ 664.8% | 48.31M▲ 151.1% | 49.78M▲ 3.1% | 110.1M▲ 121.2% | 152.74M▲ 38.7% | 216.42M▲ 41.7% |
Pretax Margin % | 7.67% | -21.11% | 9.02% | 7.82% | 12.3% | 13.31% | 15.31% |
Income Tax | 5.86M | -19.89M | 9.99M | 10.39M | 24.12M | 33.91M | 46.4M |
Effective Tax Rate % | 35% | 21.04% | 20.68% | 20.86% | 21.91% | 22.2% | 21.44% |
Net Income | 10.88M▲ 0% | -74.64M▼ 786.1% | 38.32M▲ 151.3% | 39.4M▲ 2.8% | 85.98M▲ 118.3% | 118.83M▲ 38.2% | 170.03M▲ 43.1% |
Net Margin % | 4.98% | -16.67% | 7.15% | 6.19% | 9.6% | 10.35% | 12.03% |
Net Income Growth % | - | -786.11% | 151.33% | 2.82% | 118.26% | 38.2% | 43.09% |
EPS (Diluted) | 0.29▲ 0% | -2.14▼ 837.9% | 1.18▲ 155.1% | 1.05▼ 11.0% | 2.24▲ 113.3% | 2.87▲ 28.1% | 4.07▲ 41.8% |
EPS Growth % | - | -837.93% | 155.14% | -11.02% | 113.33% | 28.13% | 41.81% |
EPS (Basic) | 0.29 | -1.99 | 1.21 | 1.05 | 2.34 | 2.96 | 4.21 |
Diluted Shares Outstanding | 37.6M | 34.93M | 32.47M | 37.6M | 38.32M | 41.38M | 41.87M |
SKWD Balance Sheet
Skyward Specialty Insurance Group, Inc. (SKWD) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'13 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
Total Assets | 934.56M | 487.16M | 2.12B | 2.36B | 2.95B | 3.73B | 4.79B |
Asset Growth % | - | -47.87% | 334.81% | 11.58% | 24.96% | 26.28% | 28.49% |
Total Investment Assets | 0 | 58.99M | 949.36M | 1.08B | 1.61B | 2.86B | 2.3B |
Long-Term Investments | 0 | 0 | 326.73M | 353.64M | 325.81M | 1.81B | 917.41M |
Short-Term Investments | 0 | 58.99M | 622.63M | 728.73M | 1.29B | 1.05B | 1.38B |
Total Current Assets | 77.18M | 238.15M | 0 | 0 | 0 | 2.56B | 3.49B |
Cash & Equivalents | 77.18M | 15.86M | 42.11M | 45.44M | 65.89M | 121.6M | 168.54M |
Receivables | 0 | 163.3M | 648.49M | 720.57M | 775.57M | 1.18B | 1.66B |
Other Current Assets | 0 | 0 | -1.45B | -1.65B | -2.32B | 0 | 30.57M |
Goodwill & Intangibles | 72.08M | 84.01M | 91.34M | 89.87M | 88.44M | 87.35M | 224.14M |
Goodwill | 22.56M | 64.05M | 65.73M | 65.73M | 65.73M | 65.73M | 65.73M |
Intangible Assets | 49.53M | 19.96M | 25.6M | 24.14M | 22.7M | 21.61M | 158.41M |
PP&E (Net) | 11.09M | 22.63M | 9.63M | 8.67M | 9.07M | 15.31M | 15.14M |
Other Assets | 774.21M | -82.8M | 1.69B | 1.91B | 2.53B | -742.96M | 122.03M |
Total Liabilities | 736.28M | 411.35M | 1.69B | 1.94B | 2.29B | 2.94B | 3.78B |
Total Debt | 99.79M | 32.11M | 128.53M | 128.61M | 128.69M | 119.54M | 119.98M |
Net Debt | 22.61M | 16.25M | 86.42M | 83.17M | 62.8M | -2.07M | -48.56M |
Long-Term Debt | 99.79M | 32.11M | 128.53M | 128.61M | 78.69M | 76.54M | 119.98M |
Short-Term Debt | 0 | 0 | 0 | 0 | 50M | 43M | 0 |
Total Current Liabilities | 34.93M | 41.09M | 0 | 1.81B | 2.21B | 398.94M | 3.66B |
Accounts Payable | 0 | 41.09M | 160.68M | 162.19M | 201.04M | 253.28M | 394.92M |
Deferred Revenue | 0 | 0 | 363.29M | 442.51M | 552.53M | 0 | 774.03M |
Other Current Liabilities | 0 | 0 | -523.97M | 1.21B | 1.41B | 102.67M | 2.49B |
Deferred Taxes | 0 | 0 | 1000K | 1000K | 1000K | 0 | 0 |
Other Liabilities | 601.56M | 0 | 805.28M | 996.1M | 1.37B | 2.42B | -46.45M |
Total Equity | 198.28M▲ 0% | 75.81M▼ 61.8% | 426.08M▲ 462.1% | 421.66M▼ 1.0% | 661.03M▲ 56.8% | 794M▲ 20.1% | 1.01B▲ 27.1% |
Equity Growth % | - | -61.77% | 462.07% | -1.04% | 56.77% | 20.12% | 27.15% |
Shareholders Equity | 198.28M | 75.81M | 426.08M | 421.66M | 661.03M | 794M | 1.01B |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Retained Earnings | -174.98M | -183.13M | -144.81M | -105.42M | -21.71M | 97.12M | 267.15M |
Common Stock | 312K | 42K | 168K | 168K | 399K | 401K | 405K |
Accumulated OCI | -3.25M | 9.71M | 4.64M | -43.48M | -22.95M | -22.12M | 11.46M |
Return on Equity (ROE) | 5.49% | -54.47% | 15.27% | 9.29% | 15.88% | 16.33% | 18.85% |
Return on Assets (ROA) | 1.16% | -10.5% | 2.94% | 1.76% | 3.23% | 3.56% | 3.99% |
Equity / Assets | 21.22% | 15.56% | 20.12% | 17.84% | 22.38% | 21.29% | 21.07% |
Debt / Equity | 0.50x | 0.42x | 0.30x | 0.31x | 0.19x | 0.15x | 0.12x |
Book Value per Share | 5.27 | 2.17 | 13.12 | 11.21 | 17.25 | 19.19 | 24.11 |
Tangible BV per Share | 3.36 | -0.23 | 10.31 | 8.82 | 14.94 | 17.08 | 18.76 |
SKWD Cash Flow Statement
Skyward Specialty Insurance Group, Inc. (SKWD) cash flow — operating, investing & free cash flow history
| Metric | Dec'13 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
Cash from Operations | 0 | 44.71M | 175.28M | 208.94M | 338.19M | 305.12M | 408.08M |
Operating CF Growth % | - | - | 292.06% | 19.2% | 61.86% | -9.78% | 33.75% |
Operating CF / Revenue % | 0% | 9.98% | 32.71% | 32.83% | 37.77% | 26.59% | 28.87% |
Net Income | 10.88M | -74.64M | 38.32M | 39.4M | 85.98M | 118.83M | 170.03M |
Depreciation & Amortization | 0 | 5.99M | 5.6M | 4.1M | 3.89M | 3.36M | 3.54M |
Stock-Based Compensation | 0 | -25K | 522K | 2.29M | 8.53M | 9.39M | 11.96M |
Deferred Taxes | 0 | -19.55M | 9.98M | 10.27M | 9.38M | -8.71M | 0 |
Other Non-Cash Items | -10.88M | 53.26M | -30.7M | -327K | -4.34M | -12.59M | -51.48M |
Working Capital Changes | 0 | 79.68M | 151.56M | 153.22M | 234.75M | 194.84M | 274.04M |
Cash from Investing | 0 | -74.93M | -183.01M | -193.38M | -493.81M | -243.69M | -366.9M |
Capital Expenditures | 0 | -2.07M | -2.15M | -2.33M | -3.11M | -4.22M | -5.45M |
Acquisitions | 0 | 0 | -2.37M | 0 | 0 | -32.17M | 0 |
Purchase of Investments | 0 | -201.69M | -363.54M | -327.2M | -636.42M | -636.56M | -916.85M |
Sale/Maturity of Investments | 0 | 160.27M | 205.5M | 138.76M | 127.23M | 383.71M | 336.83M |
Other Investing | 0 | -31.44M | -20.45M | -2.62M | 18.5M | 45.55M | 218.57M |
Cash from Financing | 0 | 56.3M | 1.38M | 2.18M | 130.95M | -4.23M | 411K |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | -540K | 0 | 0 | 0 | 0 | 0 |
Stock Issued | 0 | 255K | 1.38M | 2.18M | 130.95M | 5.56M | 0 |
Debt Issuance (Net) | 0 | -1000K | 1000K | 1000K | 1000K | -1000K | 411K |
Other Financing | 0 | 0 | -1.38M | -2.18M | -1.35M | 0 | 0 |
Net Change in Cash | 0▲ 0% | 26.08M▲ 0% | -6.35M▼ 124.3% | 17.74M▲ 379.4% | -24.68M▼ 239.1% | 57.19M▲ 331.8% | 41.59M▼ 27.3% |
Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash at Beginning | 0 | 87.55M | 113.62M | 107.27M | 125.01M | 100.34M | 157.53M |
Cash at End | 0 | 113.62M | 107.27M | 125.01M | 100.34M | 157.53M | 199.11M |
Free Cash Flow | 0▲ 0% | 42.64M▲ 0% | 173.13M▲ 306.1% | 206.61M▲ 19.3% | 335.03M▲ 62.2% | 300.89M▼ 10.2% | 402.62M▲ 33.8% |
FCF Growth % | - | - | 306.06% | 19.34% | 62.15% | -10.19% | 33.81% |
FCF Margin % | 0% | 9.52% | 32.31% | 32.47% | 37.42% | 26.22% | 28.48% |
FCF per Share | - | 1.22 | 5.33 | 5.5 | 8.74 | 7.27 | 9.62 |
SKWD Key Ratios
Skyward Specialty Insurance Group, Inc. (SKWD) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2013 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
Combined Ratio | 90.36% | 121.11% | 90.98% | 92.18% | 87.7% | 86.69% | 84.94% |
Medical Cost Ratio | 0% | 89.12% | 74.93% | 73.57% | 69.66% | 71.43% | 56.24% |
Return on Equity (ROE) | 5.49% | -54.47% | 15.27% | 9.29% | 15.88% | 16.33% | 18.85% |
Return on Assets (ROA) | 1.16% | -10.5% | 2.94% | 1.76% | 3.23% | 3.56% | 3.99% |
Equity / Assets | 21.22% | 15.56% | 20.12% | 17.84% | 22.38% | 21.29% | 21.07% |
Book Value / Share | 5.27 | 2.17 | 13.12 | 11.21 | 17.25 | 19.19 | 24.11 |
Debt / Equity | 0.50x | 0.42x | 0.30x | 0.31x | 0.19x | 0.15x | 0.12x |
Revenue Growth | - | 105.23% | 19.63% | 18.77% | 40.7% | 28.17% | 23.18% |
Related:SKWD Dividend History·SKWD Revenue History·SKWD Price History·SKWD P/E History·SKWD Financial Ratios·SKWD Institutional Holders
SKWD SEC Filings & Documents
Skyward Specialty Insurance Group, Inc. (SKWD) SEC filings — annual & quarterly reports (10-K, 10-Q)
SKWD Frequently Asked Questions
Skyward Specialty Insurance Group, Inc. (SKWD) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Skyward Specialty Insurance Group, Inc. (SKWD) grew revenue by 23.2% over the past year. This is strong growth.
Yes, Skyward Specialty Insurance Group, Inc. (SKWD) is profitable, generating $173.9M in net income for fiscal year 2025 (12.0% net margin).
Dividend & Returns
Skyward Specialty Insurance Group, Inc. (SKWD) has a return on equity (ROE) of 18.9%. This is reasonable for most industries.
Industry Metrics
Skyward Specialty Insurance Group, Inc. (SKWD) has a combined ratio of 84.9%. A ratio below 100% indicates underwriting profitability.