Skyward Specialty Insurance Group, Inc.

SKWD

Financial ServicesSmall CapUS Equities · NYSE / NASDAQ

AI Agents

Company Profile

Skyward Specialty Insurance Group, Inc., an insurance holding company, provides commercial property and casualty insurance coverages in the United States. It offers general liability, excess liability, and professional liability, as well as cyber and media liability insurance; commercial auto, group accident and health, property, agriculture, credit, and surety and workers' compensation; and property, agriculture, and credit specialty reinsurance. The company was formerly known as Houston International Insurance Group, Ltd. and changed its name to Skyward Specialty Insurance Group, Inc. in November 2020. Skyward Specialty Insurance Group, Inc. was incorporated in 2006 and is based in Houston, Texas.

Valuation

Market Cap$2.0B

Current Price$44.79

P/E Ratio11.00

P/B Ratio1.80

EV / EBITDA6.94

EV / Sales1.19

Profitability

Operating Margin-

Net Profit Margin12.0%

EBITDA Margin15.8%

Returns

ROE16.8%

ROCE-

ROIC %18.3%

ROA3.5%

Solvency

Current Ratio1.95

Debt / Equity0.12

Debt / Assets0.03

CFO / Net Profit2.40

Price History▼ 16.34% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

No margin data.

Growth Summary

Latest fiscal year: 2025

Revenue$1.4B▲ 23.7%

EBITDA$224M

Net Profit$170M▲ 43.1%

Cash from Ops (CFO)$408M

Free Cash Flow (FCF)$401M

Revenue CAGR 3Y-

Revenue CAGR 5Y-

Net Profit CAGR 3Y-

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$1.4B	$224M	$170M	$401M	16.8%	23.7%	43.1%
2024	$1.1B	$162M	$119M	$301M	15.0%	28.2%	38.2%
2023	$895M	$120M	$86M	$335M	13.0%	40.7%	118.3%
2022	$636M	$56M	$39M	$207M	9.3%	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2022	2023	2024	2025
Total Revenue	636.40	895.40	1,147.68	1,419.22
EBIT	56.19	120.13	162.24	224.34
Pretax Income	49.78	110.10	152.74	216.42
Tax Provision	10.39	24.12	33.91	46.40
Net Income	39.40	85.98	118.83	170.03
Net Income Common Stockholders	20.52	84.31	118.83	170.03
Total Expenses	586.62	785.30	994.94	1,202.80
Interest Expense	6.41	10.02	9.50	7.92
Normalized Income	39.40	85.98	118.83	181.05
Basic EPS	1.05	2.34	2.97	4.21
Diluted EPS	1.05	2.24	2.87	4.07
Tax Effect Of Unusual Items	0	0	0	-3
Tax Rate For Calcs	0.21	0.22	0.22	0.21
Total Unusual Items	0	0	0	-14.02
Total Unusual Items Excluding Goodwill	0	0	0	-14.02
Net Income From Continuing Operation Net Minority Interest	39.40	85.98	118.83	170.03
Reconciled Depreciation	4.10	3.89	3.36	3.54
Net Interest Income	-6.41	-10.02	-9.50	-7.92
Net Income From Continuing And Discontinued Operation	39.40	85.98	118.83	170.03
Diluted Average Shares	37.60	38.32	41.38	41.81
Basic Average Shares	37.60	36.03	40.06	40.41
Diluted NI Availto Com Stockholders	39.40	85.98	118.83	170.03
Average Dilution Earnings	18.88	1.68	0	0
Otherunder Preferred Stock Dividend	18.88	1.68	0	0
Net Income Including Noncontrolling Interests	39.40	85.98	118.83	170.03
Net Income Continuous Operations	39.40	85.98	118.83	170.03
Other Income Expense	0	-0.63	-0.17	-0.59
Special Income Charges	0	0	0	-14.02
Other Special Charges	0	0	0	0
Impairment Of Capital Assets	0	0	0	0
Restructuring And Mergern Acquisition	0	0	0	14.02
Net Non Operating Interest Income Expense	-6.41	-10.02	-9.50	-7.92
Interest Expense Non Operating	6.41	10.02	9.50	7.92
Other Operating Expenses	0	5.36	4.39	4.16
Depreciation And Amortization In Income Statement	1.55	1.80	2.01	1.64
Amortization	1.55	1.80	2.01	1.64
Operating Revenue	636.40	895.40	1,147.68	1,419.22
Loss Adjustment Expense	402.51	515.24	669.81	795.02
Net Policyholder Benefits And Claims	402.51	515.24	669.81	795.02

Peer Comparison

Financial Services sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Skyward Specialty Insurance Group, Inc.this co.	SKWD	$2.0B	11.00↓ discount	1.80	16.8%	6.94
Kemper Corporation	KMPR	$2.0B	13.47	0.72	5.3%	-
OFG Bancorp	OFG	$2.0B	9.38	1.38	14.8%	-
Banco Latinoamericano de Comercio Exterior, S. A.	BLX	$2.0B	8.77	1.19	13.5%	-
Patria Investments Limited

Learn while you research

Hand-picked academy chapters to deepen your understanding of Skyward Specialty Insurance Group, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Value Investing

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$1.4B

$224M

$170M

$401M

16.8%

23.7%

43.1%

2024

$1.1B

$162M

$119M

$301M

15.0%

28.2%

38.2%

2023

$895M

$120M

$86M

$335M

13.0%

40.7%

118.3%

2022

$636M

$56M

$39M

$207M

9.3%

Metric

2022

2023

2024

2025

Total Revenue

636.40

895.40

1,147.68

1,419.22

EBIT

56.19

120.13

162.24

224.34

Pretax Income

49.78

110.10

152.74

216.42

Tax Provision

10.39

24.12

33.91

46.40

Net Income

39.40

85.98

118.83

170.03

Net Income Common Stockholders

20.52

84.31

118.83

170.03

Total Expenses

586.62

785.30

994.94

1,202.80

Interest Expense

6.41

10.02

9.50

7.92

Normalized Income

39.40

85.98

118.83

181.05

Basic EPS

1.05

2.34

2.97

4.21

Diluted EPS

1.05

2.24

2.87

4.07

Tax Effect Of Unusual Items

-3

Tax Rate For Calcs

0.21

0.22

0.21

Total Unusual Items

-14.02

Total Unusual Items Excluding Goodwill

-14.02

Net Income From Continuing Operation Net Minority Interest

39.40

85.98

118.83

170.03

Reconciled Depreciation

4.10

3.89

3.36

3.54

Net Interest Income

-6.41

-10.02

-9.50

-7.92

Net Income From Continuing And Discontinued Operation

39.40

85.98

118.83

170.03

Diluted Average Shares

37.60

38.32

41.38

41.81

Basic Average Shares

37.60

36.03

40.06

40.41

Diluted NI Availto Com Stockholders

39.40

85.98

118.83

170.03

Average Dilution Earnings

18.88

1.68

Otherunder Preferred Stock Dividend

18.88

1.68

Net Income Including Noncontrolling Interests

39.40

85.98

118.83

170.03

Net Income Continuous Operations

39.40

85.98

118.83

170.03

Other Income Expense

-0.63

-0.17

-0.59

Special Income Charges

-14.02

Other Special Charges

Impairment Of Capital Assets

Restructuring And Mergern Acquisition

14.02

Net Non Operating Interest Income Expense

-6.41

-10.02

-9.50

-7.92

Interest Expense Non Operating

6.41

10.02

9.50

7.92

Other Operating Expenses

5.36

4.39

4.16

Depreciation And Amortization In Income Statement

1.55

1.80

2.01

1.64

Amortization

1.55

1.80

2.01

1.64

Operating Revenue

636.40

895.40

1,147.68

1,419.22

Loss Adjustment Expense

402.51

515.24

669.81

795.02

Net Policyholder Benefits And Claims

402.51

515.24

669.81

795.02

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Skyward Specialty Insurance Group, Inc.this co.

SKWD

$2.0B

11.00↓ discount

1.80

16.8%

6.94

Kemper Corporation

KMPR

$2.0B

13.47

0.72

5.3%

OFG Bancorp

OFG

$2.0B

9.38

1.38

14.8%

Banco Latinoamericano de Comercio Exterior, S. A.

BLX

$2.0B

8.77

1.19

13.5%

Patria Investments Limited

Skyward Specialty Insurance Group, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Skyward Specialty Insurance Group, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on