Skyward Specialty Insurance Group, Inc. (SKWD)
Incorporated in 2006 and headquartered in Houston, Texas, Skyward Specialty Insurance Group, Inc. functions as an insurance holding company. The firm specializes in writing commercial property and casualty insurance policies for clients across the United States. Its extensive range of coverages includes general liability, excess liability, professional liability, commercial auto, group accident and health, property, surety, and workers' compensation.
Sector: Fire, Marine & Casualty Insurance
Industry: Insurance - Property & Casualty
Skyward Specialty Insurance Group, Inc.
NASDAQ:SKWDFinancial Services · Insurance - Property & Casualty
-5.50%$60.35
CLOSED · Nov 6Prev close$63.86-5.50%Close$60.350.00%AH close$60.35
AH$60.35+0.00%vs close
Mkt Cap$2.68B
Float41.06M
O/S44.41M
VOL880K sh
$ Vol$53.2M
RVOL2.49×
Inst Own92.5%
SI4.5%
Dilution
Financials Summary
Revenue$1.41B
Net Income$170.03M
Total Assets$4.79B
Free Cash Flow$402.62M
Debt & Equity
Debt 11%
Equity 89%
Total Debt$119.98M
Total Equity$1.01B
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in SKWD's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$4.79B
Liabilities$3.78B
Accounts Receivable$1.66B
Accounts Payable$394.92M
Inventory$0
PP&E (Net)$15.14M
Goodwill$65.73M
Intangible Assets$158.41M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2013-12-31 | 2012-12-31 |
| Revenue | $1.41B | $1.15B | $895.4M | $636.4M | $535.82M | $447.89M | $218.24M | $98.37M |
| YoY Growth | 23.2% | 28.2% | 40.7% | 18.8% | 19.6% | 105.2% | 121.8% | - |
| Cost of Revenue | $795.02M | $819.78M | $623.75M | $468.21M | $401.47M | $399.15M | $0 | $0 |
| Gross Profit | $622.11M | $327.89M | $271.65M | $168.2M | $134.35M | $48.73M | $218.24M | $98.37M |
| Gross Margin | 44.0% | 28.6% | 30.3% | 26.4% | 25.1% | 10.9% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $0 | $0 | $0 | $0 | $0 | $0 | $38.86M | $35.63M |
| Other | $405.68M | $175.15M | $161.55M | $118.42M | $86.04M | $143.27M | $0 | $0 |
| Total Operating Expenses | $405.68M | $175.15M | $161.55M | $118.42M | $86.04M | $143.27M | $197.19M | $97.85M |
| Operating Income (EBIT) | $216.42M | $152.74M | $110.1M | $49.78M | $48.31M | -$94.53M | $21.05M | $523K |
| Operating Margin | 15.3% | 13.3% | 12.3% | 7.8% | 9.0% | -21.1% | 9.6% | 0.5% |
| Interest Expense | $7.92M | $9.5M | $10.02M | $6.41M | $4.62M | $5.53M | $0 | $0 |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $4.31M | $4.43M |
| Other Income (Expense) | $0 | $0 | $0 | $0 | $0 | $0 | -$4.31M | -$4.43M |
| Income Before Tax (EBT) | $216.42M | $152.74M | $110.1M | $49.78M | $48.31M | -$94.53M | $16.74M | -$3.91M |
| Income Tax Expense | $46.4M | $33.91M | $24.12M | $10.39M | $9.99M | -$19.89M | $5.86M | -$2.67M |
| Net Income | $170.03M | $118.83M | $85.98M | $39.4M | $38.32M | -$74.64M | $10.88M | -$1.24M |
| Net Income Margin | 12.0% | 10.4% | 9.6% | 6.2% | 7.2% | -16.7% | 5.0% | -1.3% |
| Supplementary Data | ||||||||
| EPS | 4.21 | 2.96 | 2.34 | 1.05 | 1.18 | -1.99 | 0.29 | -0.03 |
| Diluted EPS | 4.07 | 2.87 | 2.24 | 1.05 | 1.18 | -2.14 | 0.29 | -0.03 |
| Weighted Average OS | 40.45M | 40.06M | 36.03M | 37.60M | 32.47M | 34.93M | 37.60M | 37.60M |
| EBITDA | $227.88M | $165.59M | $124.02M | $60.29M | $58.53M | -$83.02M | $16.74M | $1.43M |
| EBITDA Margin | 16.1% | 14.4% | 13.9% | 9.5% | 10.9% | -18.5% | 7.7% | 1.5% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2013 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2013-12-31 |
| Assets | |||||||
| Current Assets | |||||||
| Cash and Cash Equivalents | $168.54M | $121.6M | $65.89M | $45.44M | $42.11M | $15.86M | $77.18M |
| Short-Term Investments | $1.38B | $1.05B | $1.29B | $728.73M | $622.63M | $58.99M | $0 |
| Cash and Short-Term Investments | $1.55B | $1.18B | $1.35B | $774.17M | $664.74M | $74.85M | $77.18M |
| Accounts Receivable | $1.66B | $1.18B | $775.57M | $720.57M | $648.49M | $163.3M | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $30.57M | $0 | -$2.32B | -$1.65B | -$1.45B | $0 | $0 |
| Total Current Assets | $3.49B | $2.56B | $0 | $0 | $0 | $238.15M | $77.18M |
| Long-Term Assets | |||||||
| Property, Plant & Equipment Net | $15.14M | $15.31M | $9.07M | $8.67M | $9.63M | $22.63M | $11.09M |
| Goodwill | $65.73M | $65.73M | $65.73M | $65.73M | $65.73M | $64.05M | $22.56M |
| Intangible Assets | $158.41M | $21.61M | $22.7M | $24.14M | $25.6M | $19.96M | $49.53M |
| Long-Term Investments | $917.41M | $1.81B | $325.81M | $353.64M | $326.73M | $0 | $0 |
| Deferred Tax Assets | $27.86M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $122.03M | -$742.96M | $2.53B | $1.91B | $1.69B | -$82.8M | $774.21M |
| Total Long-Term Assets | $1.31B | $1.17B | $2.95B | $2.36B | $2.12B | $23.85M | $857.38M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $225.16M | $0 |
| Total Assets | $4.79B | $3.73B | $2.95B | $2.36B | $2.12B | $487.16M | $934.56M |
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts Payable | $394.92M | $253.28M | $201.04M | $162.19M | $160.68M | $41.09M | $0 |
| Short-Term Debt | $0 | $43M | $50M | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $774.03M | $0 | $552.53M | $442.51M | $363.29M | $0 | $0 |
| Other Current Liabilities | $2.49B | $102.67M | $1.41B | -$604.7M | $1.04B | $0 | $0 |
| Total Current Liabilities | $3.66B | $398.94M | $2.21B | $0 | $1.56B | $41.09M | $34.93M |
| Long-Term Liabilities | |||||||
| Long-Term Debt | $119.98M | $76.54M | $78.69M | $128.61M | $128.53M | $32.11M | $99.79M |
| Long-Term Unearned Revenue | $46.45M | $40.43M | $37.06M | $29.85M | $30.5M | $8.94M | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $27.09M | $18.87M | $14.3M | $0 | $0 |
| Other Long-Term Liabilities | -$46.45M | $2.42B | $1.37B | $996.1M | $805.28M | $0 | $601.56M |
| Total Long-Term Liabilities | $119.98M | $2.54B | $1.51B | $1.18B | $987.13M | $41.05M | $701.36M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $329.21M | $0 |
| Total Liabilities | $3.78B | $2.94B | $2.29B | $1.94B | $1.69B | $411.35M | $736.28M |
| Stockholders' Equity | |||||||
| Preferred Stock | $0 | $0 | $0 | $20K | $20K | $90.3M | $0 |
| Common Stock | $405K | $401K | $399K | $168K | $168K | $42K | $312K |
| Retained Earnings | $267.15M | $97.12M | -$21.71M | -$105.42M | -$144.81M | -$183.13M | -$174.98M |
| Comprehensive Income & Other | $11.46M | -$22.12M | -$22.95M | -$43.48M | $4.64M | $9.71M | -$3.25M |
| Other Stockholders' Equity | $742.01M | $696.48M | $682.34M | $526.91M | $570.73M | $258.89M | $372.95M |
| Total Equity | $1.01B | $794M | $661.03M | $421.66M | $426.08M | $75.81M | $198.28M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $4.79B | $3.73B | $2.95B | $2.36B | $2.12B | $487.16M | $934.56M |
| Supplementary Data | |||||||
| Total Debt | $119.98M | $119.54M | $128.69M | $128.61M | $128.53M | $32.11M | $99.79M |
| Net Debt | -$48.56M | -$2.07M | $62.8M | $83.17M | $86.42M | $16.25M | $22.61M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2013-12-31 | 2012-12-31 |
| Operating Activities | ||||||||
| Net Income | $170.03M | $118.83M | $85.98M | $39.4M | $38.32M | -$74.64M | $10.88M | -$1.24M |
| Depreciation & Amortization | $3.54M | $3.36M | $3.89M | $4.1M | $5.6M | $5.99M | $0 | $0 |
| Deferred Income Tax | $0 | -$8.71M | $9.38M | $10.27M | $9.98M | -$19.55M | $0 | $0 |
| Stock-Based Compensation | $11.96M | $9.39M | $8.53M | $2.29M | $522K | -$25K | $0 | $0 |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | $0 | -$403.95M | -$57.29M | -$72.09M | $2.94M | -$117.28M | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $274.04M | $598.78M | $292.04M | $225.31M | $148.62M | $196.95M | $0 | $0 |
| Total Working Capital Change | $274.04M | $194.84M | $234.75M | $153.22M | $151.56M | $79.68M | $0 | $0 |
| Other Non-Cash Items | -$51.48M | -$12.59M | -$4.34M | -$327K | -$30.7M | $53.26M | -$10.88M | $1.24M |
| Net Cash from Operating | $408.08M | $305.12M | $338.19M | $208.94M | $175.28M | $44.71M | $0 | $0 |
| Investing Activities | ||||||||
| Capital Expenditures | -$5.45M | -$4.22M | -$3.11M | -$2.33M | -$2.15M | -$2.07M | $0 | $0 |
| Acquisitions | $0 | -$32.17M | $0 | $0 | -$2.37M | $0 | $0 | $0 |
| Purchases of Investments | -$916.85M | -$636.56M | -$636.42M | -$327.2M | -$363.54M | -$201.69M | $0 | $0 |
| Sales of Investments | $336.83M | $383.71M | $127.23M | $138.76M | $205.5M | $160.27M | $0 | $0 |
| Other Investing Activities | $218.57M | $45.55M | $18.5M | -$2.62M | -$20.45M | -$31.44M | $0 | $0 |
| Net Cash from Investing | -$366.9M | -$243.69M | -$493.81M | -$193.38M | -$183.01M | -$74.93M | $0 | $0 |
| Financing Activities | ||||||||
| Debt Repaid | -$43.41M | $9.79M | -$51.35M | -$2.18M | -$1.38M | $33.83M | - | - |
| Common Stock Issuance | $0 | $5.56M | $130.95M | $2.18M | $1.38M | $255K | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | -$540K | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | -$1.35M | -$2.18M | -$1.38M | $0 | $0 | $0 |
| Net Cash from Financing | $411K | -$4.23M | $130.95M | $2.18M | $1.38M | $56.3M | $0 | $0 |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $41.59M | $57.19M | -$24.68M | $17.74M | -$6.35M | $26.08M | $0 | $0 |
| Supplementary Data | ||||||||
| Operating Cash Flow | $408.08M | $305.12M | $338.19M | $208.94M | $175.28M | $44.71M | $0 | $0 |
| Capital Expenditure | -$5.45M | -$4.22M | -$3.16M | -$2.33M | -$2.15M | -$2.07M | $0 | $0 |
| Free Cash Flow | $402.62M | $300.89M | $335.03M | $206.61M | $173.13M | $42.64M | $0 | $0 |
| Cash at Beginning | $157.53M | $100.34M | $125.01M | $107.27M | $113.62M | $87.55M | $0 | $0 |
| Cash at End | $199.11M | $157.53M | $100.34M | $125.01M | $107.27M | $113.62M | $0 | $0 |