Skyward Specialty Insurance Group (SKWD) Financials

$60.47 -1.43 (-2.31%)

Closing price 04:00 PM Eastern

Extended Trading

$61.63 +1.16 (+1.92%)

As of 07:51 PM Eastern

Annual Income Statements for Skyward Specialty Insurance Group

This table shows Skyward Specialty Insurance Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021
Net Income / (Loss) Attributable to Common Shareholders	119	84	21	20
Consolidated Net Income / (Loss)	119	86	39	38
Net Income / (Loss) Continuing Operations	119	86	39	38
Total Pre-Tax Income	153	110	50	48
Total Operating Income	167	125	56	53
Total Gross Profit	480	371	240	196
Total Revenue	1,150	886	642	550
Operating Revenue	1,150	886	642	550
Total Cost of Revenue	670	515	403	354
Operating Cost of Revenue	670	515	403	354
Total Operating Expenses	314	245	184	143
Amortization Expense	2.01	1.80	1.55	1.52
Other Operating Expenses / (Income)	312	243	182	138
Total Other Income / (Expense), net	-14	-15	-6.41	-4.62
Interest Expense	9.50	10	6.41	4.62
Other Income / (Expense), net	-4.39	-5.36	0.00	-
Income Tax Expense	34	24	10	9.99
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	1.68	19	19
Basic Earnings per Share	$2.97	$2.34	$1.24	$1.21
Weighted Average Basic Shares Outstanding	40.06M	36.03M	16.57M	16.31M
Diluted Earnings per Share	$2.87	$2.24	$1.21	$1.18
Weighted Average Diluted Shares Outstanding	41.38M	38.32M	32.65M	32.47M
Weighted Average Basic & Diluted Shares Outstanding	40.13M	40.00M	37.66M	-

This table shows Skyward Specialty Insurance Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	42	14	37	31	37	29	22	19	14	12	-2.40
Consolidated Net Income / (Loss)	42	14	37	31	37	29	22	19	16	20	-2.40
Net Income / (Loss) Continuing Operations	42	14	37	31	37	29	22	19	16	20	-2.40
Total Pre-Tax Income	51	19	47	40	47	38	28	25	20	26	-3.12
Total Operating Income	54	22	50	44	51	42	32	29	23	28	-1.38
Total Gross Profit	141	108	130	121	121	109	101	86	75	78	46
Total Revenue	329	304	301	280	265	246	239	211	190	187	158
Operating Revenue	329	304	301	280	265	246	239	211	190	187	158
Total Cost of Revenue	187	196	171	159	144	137	139	124	115	109	112
Operating Cost of Revenue	187	196	171	159	144	137	139	124	115	109	112
Total Operating Expenses	87	86	80	77	70	67	69	57	52	50	48
Amortization Expense	0.34	0.91	0.35	0.36	0.39	0.46	0.46	0.49	0.39	0.39	0.39
Other Operating Expenses / (Income)	87	85	80	77	70	67	68	57	52	50	47
Total Other Income / (Expense), net	-2.90	-3.13	-3.35	-3.49	-3.92	-4.08	-4.11	-3.93	-3.27	-2.13	-1.74
Interest Expense	1.83	2.09	2.23	2.45	2.73	2.77	2.63	2.47	2.15	2.13	1.74
Other Income / (Expense), net	-1.06	-1.04	-1.12	-1.05	-1.19	-1.30	-1.48	-1.47	-1.11	-	0.00
Income Tax Expense	9.38	4.15	10	9.39	10	8.30	6.08	5.56	4.17	5.55	-0.72
Basic Earnings per Share	$1.05	$0.33	$0.91	$0.79	$0.94	$0.79	$0.59	$0.53	$0.43	$0.71	($0.15)
Weighted Average Basic Shares Outstanding	40.20M	40.06M	40.10M	39.18M	39.11M	36.03M	36.74M	36.60M	32.85M	16.57M	16.47M
Diluted Earnings per Share	$1.01	$0.33	$0.89	$0.75	$0.90	$0.74	$0.57	$0.51	$0.42	$0.70	($0.15)
Weighted Average Diluted Shares Outstanding	41.68M	41.38M	41.43M	41.17M	41.09M	38.32M	38.40M	38.14M	36.95M	32.65M	16.47M
Weighted Average Basic & Diluted Shares Outstanding	40.40M	40.13M	40.10M	40.10M	40.00M	40.00M	37.68M	37.67M	37.66M	37.66M	-

This table details how cash moves in and out of Skyward Specialty Insurance Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021
Net Change in Cash & Equivalents	57	-25	18	-6.35
Net Cash From Operating Activities	305	338	209	175
Net Cash From Continuing Operating Activities	305	338	209	175
Net Income / (Loss) Continuing Operations	119	86	39	38
Consolidated Net Income / (Loss)	119	86	39	38
Depreciation Expense	3.36	3.89	4.10	5.60
Non-Cash Adjustments To Reconcile Net Income	199	259	153	125
Changes in Operating Assets and Liabilities, net	-16	-11	13	6.56
Net Cash From Investing Activities	-244	-494	-193	-183
Net Cash From Continuing Investing Activities	-244	-494	-193	-183
Purchase of Property, Plant & Equipment	-4.22	-3.11	-2.33	-2.15
Acquisitions	-32	-0.05	0.00	-27
Purchase of Investments	-618	-461	-327	-364
Sale and/or Maturity of Investments	393	-18	142	208
Other Investing Activities, net	17	-11	-6.57	-6.03
Net Cash From Financing Activities	-4.23	131	2.18	1.38
Net Cash From Continuing Financing Activities	-4.23	131	2.18	1.38
Repayment of Debt	-111	-50	0.00	-
Issuance of Debt	107	50	0.00	-
Issuance of Common Equity	0.00	131	2.18	1.38
Cash Interest Paid	8.57	11	5.76	4.67
Cash Income Taxes Paid	37	16	0.00	-

This table details how cash moves in and out of Skyward Specialty Insurance Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-4.02	6.17	43	-7.00	15	-2.93	1.41	-3.39	-20	19	8.32
Net Cash From Operating Activities	97	22	168	21	94	120	110	1.27	107	84	61
Net Cash From Continuing Operating Activities	97	22	168	21	94	120	110	1.27	107	84	61
Net Income / (Loss) Continuing Operations	42	14	37	31	37	29	22	19	16	20	-2.40
Consolidated Net Income / (Loss)	42	14	37	31	37	29	22	19	16	20	-2.40
Non-Cash Adjustments To Reconcile Net Income	55	20	131	-10	57	98	88	-18	92	47	63
Net Cash From Investing Activities	-101	-16	-130	-28	-70	-186	-110	-4.66	-193	-65	-53
Net Cash From Continuing Investing Activities	-101	-16	-130	-28	-70	-186	-110	-4.66	-193	-65	-53
Purchase of Property, Plant & Equipment	-0.20	-1.08	-0.38	-2.51	-0.26	-3.11	1.20	-0.58	-0.61	-	-
Acquisitions	-0.20	-9.80	-21	-0.84	-0.26	-0.05	0.05	0.24	-0.29	-	-
Purchase of Investments	-135	-178	-167	-174	-99	-110	-141	-125	-85	-65	-98
Sale and/or Maturity of Investments	20	177	57	129	31	-58	48	123	-131	4.00	39
Other Investing Activities, net	15	-3.82	1.67	20	-0.52	-15	-18	-2.11	24	-1.38	5.65
Net Cash From Financing Activities	0.00	0.00	5.23	0.00	-9.47	63	1.09	-	66	-	0.03
Net Cash From Continuing Financing Activities	0.00	0.00	5.23	0.00	-9.47	63	1.09	-	66	-	0.03
Repayment of Debt	0.00	5.56	-117	-	0.00	-	-	-	-50	-	-
Issuance of Debt	0.00	-	57	-	50	-	-	-	50	-	-
Other Financing Activities, net	0.00	-	5.23	0.00	0.33	-	-	-0.19	0.19	-	-
Cash Interest Paid	1.81	1.63	2.11	2.18	2.66	2.16	3.31	2.05	3.15	1.90	1.49

This table presents Skyward Specialty Insurance Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021
Total Assets	3,729	2,953	2,363	2,118
Total Current Assets	1,764	1,431	906	730
Cash & Equivalents	122	66	45	42
Restricted Cash	36	34	80	65
Short-Term Investments	1,606	1,331	781	623
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00
Total Noncurrent Assets	1,966	1,522	1,457	1,388
Long-Term Investments	265	283	249	327
Noncurrent Note & Lease Receivables	322	179	191	112
Goodwill	87	88	90	91
Noncurrent Deferred & Refundable Income Taxes	30	22	36	34
Other Noncurrent Operating Assets	1,262	950	891	824
Total Liabilities & Shareholders' Equity	3,729	2,953	2,363	2,118
Total Liabilities	2,935	2,292	1,942	1,692
Total Current Liabilities	76	51	48	41
Accounts Payable	76	51	48	41
Total Noncurrent Liabilities	2,859	2,242	1,893	1,651
Long-Term Debt	120	129	129	129
Asset Retirement Reserve & Litigation Obligation	1,782	1,315	1,142	980
Other Noncurrent Operating Liabilities	957	798	623	543
Total Equity & Noncontrolling Interests	794	661	422	426
Total Preferred & Common Equity	794	661	422	426
Total Common Equity	794	661	422	426
Common Stock	719	711	577	575
Retained Earnings	97	-22	-105	-145
Accumulated Other Comprehensive Income / (Loss)	-22	-23	-43	4.64
Other Equity Adjustments	0.00	-5.56	-6.91	-9.09

This table presents Skyward Specialty Insurance Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023
Total Assets	4,031	3,599	3,435	3,187	2,851	2,807	2,621
Total Current Assets	1,897	1,755	1,564	1,478	1,217	1,107	1,114
Cash & Equivalents	113	106	73	85	54	68	41
Restricted Cash	41	46	35	30	50	34	64
Short-Term Investments	1,743	1,603	1,455	1,363	1,113	1,005	1,009
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	2,134	1,844	1,872	1,709	1,634	1,700	1,507
Long-Term Investments	250	287	261	310	223	285	239
Noncurrent Note & Lease Receivables	418	327	377	273	271	266	221
Goodwill	87	88	88	88	89	89	90
Noncurrent Deferred & Refundable Income Taxes	27	19	25	24	35	32	31
Other Noncurrent Operating Assets	1,352	1,124	1,121	1,013	1,016	1,027	927
Total Liabilities & Shareholders' Equity	4,031	3,599	3,435	3,187	2,851	2,807	2,621
Total Liabilities	3,180	2,801	2,712	2,495	2,315	2,284	2,114
Total Current Liabilities	1,950	73	1,530	1,430	64	1,270	1,214
Accounts Payable	78	73	60	53	64	46	40
Other Current Liabilities	1,871	-	1,470	1,377	-	1,224	1,173
Total Noncurrent Liabilities	1,230	2,728	1,182	1,064	2,251	1,014	901
Long-Term Debt	120	119	119	119	129	129	129
Other Noncurrent Operating Liabilities	1,111	1,041	1,063	945	854	886	772
Total Equity & Noncontrolling Interests	851	798	724	692	535	523	507
Total Preferred & Common Equity	851	798	724	692	535	523	507
Total Common Equity	851	798	724	692	535	523	507
Common Stock	722	716	714	712	646	643	642
Retained Earnings	139	83	46	15	-51	-73	-92
Accumulated Other Comprehensive Income / (Loss)	-10	-1.70	-31	-29	-54	-41	-36

This table displays calculated financial ratios and metrics derived from Skyward Specialty Insurance Group's official financial filings.

Metric	2024	2023	2022	2021
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021
Growth Metrics	-	-	-	-
Revenue Growth	29.82%	37.91%	16.77%	0.00%
EBITDA Growth	33.52%	105.71%	2.99%	0.00%
EBIT Growth	35.05%	113.79%	6.16%	0.00%
NOPAT Growth	32.28%	120.39%	5.91%	0.00%
Net Income Growth	38.20%	118.26%	2.82%	0.00%
EPS Growth	28.13%	85.12%	2.54%	0.00%
Operating Cash Flow Growth	-9.78%	61.86%	19.20%	0.00%
Free Cash Flow Firm Growth	-23.24%	182.39%	0.00%	0.00%
Invested Capital Growth	-20.61%	-52.71%	-20.56%	0.00%
Revenue Q/Q Growth	5.32%	7.13%	0.00%	0.00%
EBITDA Q/Q Growth	-9.76%	13.16%	0.00%	0.00%
EBIT Q/Q Growth	-10.83%	11.36%	0.00%	0.00%
NOPAT Q/Q Growth	-10.74%	11.79%	0.00%	0.00%
Net Income Q/Q Growth	-11.11%	11.47%	0.00%	0.00%
EPS Q/Q Growth	-12.50%	1.82%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-24.26%	11.77%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	-35.25%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.90%	-19.15%	0.00%	0.00%
Profitability Metrics	-	-	-	-
Gross Margin	41.77%	41.84%	37.34%	35.58%
EBITDA Margin	14.40%	14.00%	9.38%	10.64%
Operating Margin	14.49%	14.16%	8.75%	9.62%
EBIT Margin	14.10%	13.56%	8.75%	9.62%
Profit (Net Income) Margin	10.33%	9.71%	6.13%	6.96%
Tax Burden Percent	77.80%	78.09%	79.14%	79.32%
Interest Burden Percent	94.15%	91.66%	88.60%	91.27%
Effective Tax Rate	22.20%	21.91%	20.86%	20.68%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	16.33%	15.88%	9.29%	8.99%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	4.86%	4.52%	2.51%	2.50%
Return on Assets (ROA)	3.56%	3.23%	1.76%	1.81%
Return on Common Equity (ROCE)	16.33%	15.88%	9.29%	8.99%
Return on Equity Simple (ROE_SIMPLE)	14.97%	13.01%	9.34%	8.99%
Net Operating Profit after Tax (NOPAT)	130	98	44	42
NOPAT Margin	11.27%	11.06%	6.92%	7.63%
Net Nonoperating Expense Percent (NNEP)	-0.62%	-0.92%	-0.52%	-0.40%
Return On Investment Capital (ROIC_SIMPLE)	14.19%	12.41%	8.08%	-
Cost of Revenue to Revenue	58.23%	58.16%	62.66%	64.42%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	27.28%	27.68%	28.60%	25.96%
Earnings before Interest and Taxes (EBIT)	162	120	56	53
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	166	124	60	59
Valuation Ratios	-	-	-	-
Price to Book Value (P/BV)	2.55	1.93	0.32	0.32
Price to Tangible Book Value (P/TBV)	2.87	2.23	0.40	0.40
Price to Revenue (P/Rev)	1.76	1.44	0.21	0.24
Price to Earnings (P/E)	17.06	15.14	6.55	6.78
Dividend Yield	0.00%	0.00%	0.00%	0.00%
Earnings Yield	5.86%	6.60%	15.28%	14.75%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.10	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.71	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.73	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.91	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.39	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.37	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-
Debt to Equity	0.15	0.19	0.31	0.30
Long-Term Debt to Equity	0.15	0.19	0.31	0.30
Financial Leverage	-2.40	-2.41	-2.31	-2.18
Leverage Ratio	4.59	4.91	5.29	4.97
Compound Leverage Factor	4.32	4.50	4.68	4.54
Debt to Total Capital	13.09%	16.30%	23.37%	23.17%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	13.09%	16.30%	23.37%	23.17%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	86.92%	83.70%	76.62%	76.82%
Debt to EBITDA	0.72	1.04	2.13	2.20
Net Debt to EBITDA	-11.53	-12.78	-17.03	-15.86
Long-Term Debt to EBITDA	0.72	1.04	2.13	2.20
Debt to NOPAT	0.92	1.31	2.89	3.06
Net Debt to NOPAT	-14.72	-16.18	-23.09	-22.11
Long-Term Debt to NOPAT	0.92	1.31	2.89	3.06
Altman Z-Score	1.45	1.32	0.76	0.68
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-
Current Ratio	23.15	28.13	18.69	17.91
Quick Ratio	22.67	27.45	17.04	16.31
Cash Flow Metrics	-	-	-	-
Free Cash Flow to Firm (FCFF)	320	417	148	0.00
Operating Cash Flow to CapEx	7,223.37%	10,881.18%	8,986.58%	8,137.65%
Free Cash Flow to Firm to Interest Expense	33.71	41.61	23.05	0.00
Operating Cash Flow to Interest Expense	32.13	33.74	32.61	37.92
Operating Cash Flow Less CapEx to Interest Expense	31.69	33.43	32.25	37.46
Efficiency Ratios	-	-	-	-
Asset Turnover	0.34	0.33	0.29	0.26
Accounts Receivable Turnover	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00
Accounts Payable Turnover	10.54	10.37	9.02	8.70
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	34.63	35.20	40.47	41.98
Cash Conversion Cycle (CCC)	-34.63	-35.20	-40.47	-41.98
Capital & Investment Metrics	-	-	-	-
Invested Capital	-1,115	-924	-605	-502
Invested Capital Turnover	-1.13	-1.16	-1.16	-1.10
Increase / (Decrease) in Invested Capital	-191	-319	-103	0.00
Enterprise Value (EV)	118	-309	-893	-794
Market Capitalization	2,027	1,277	134	134
Book Value per Share	$19.80	$17.54	$25.45	$26.12
Tangible Book Value per Share	$17.62	$15.20	$20.02	$20.52
Total Capital	914	790	550	555
Total Debt	120	129	129	129
Total Long-Term Debt	120	129	129	129
Net Debt	-1,909	-1,585	-1,027	-928
Capital Expenditures (CapEx)	4.22	3.11	2.33	2.15
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-76	-51	-48	-41
Debt-free Net Working Capital (DFNWC)	1,688	1,380	858	689
Net Working Capital (NWC)	1,688	1,380	858	689
Net Nonoperating Expense (NNE)	11	12	5.07	3.67
Net Nonoperating Obligations (NNO)	-1,909	-1,585	-1,027	-928
Total Depreciation and Amortization (D&A)	3.36	3.89	4.10	5.60
Debt-free, Cash-free Net Working Capital to Revenue	-6.63%	-5.74%	-7.55%	-7.41%
Debt-free Net Working Capital to Revenue	146.72%	155.80%	133.51%	125.26%
Net Working Capital to Revenue	146.72%	155.80%	133.51%	125.26%
Earnings Adjustments	-	-	-	-
Adjusted Basic Earnings per Share	$2.97	$2.34	$1.24	$0.00
Adjusted Weighted Average Basic Shares Outstanding	40.06M	36.03M	16.57M	0.00
Adjusted Diluted Earnings per Share	$2.87	$2.24	$1.21	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	41.38M	38.32M	32.65M	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	40.13M	40.00M	37.66M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	130	98	44	44
Normalized NOPAT Margin	11.27%	11.06%	6.92%	8.04%
Pre Tax Income Margin	13.28%	12.43%	7.75%	8.78%
Debt Service Ratios	-	-	-	-
EBIT to Interest Expense	17.08	11.98	8.77	11.45
NOPAT to Interest Expense	13.65	9.78	6.94	9.08
EBIT Less CapEx to Interest Expense	16.64	11.67	8.41	10.99
NOPAT Less CapEx to Interest Expense	13.21	9.47	6.58	8.62
Payout Ratios	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Skyward Specialty Insurance Group's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	23.99%	23.59%	25.78%	32.98%	39.51%	31.45%	51.32%	45.90%	24.41%	0.00%	0.00%
EBITDA Growth	7.02%	-47.18%	60.03%	54.33%	125.02%	43.29%	3,210.78%	244.94%	0.53%	0.00%	0.00%
EBIT Growth	7.17%	-48.83%	61.31%	55.75%	127.23%	43.62%	2,304.86%	255.89%	0.54%	0.00%	0.00%
NOPAT Growth	11.48%	-48.09%	57.62%	49.50%	119.77%	46.85%	2,680.18%	265.84%	5.15%	0.00%	0.00%
Net Income Growth	14.34%	-50.77%	68.89%	59.21%	136.46%	43.32%	1,005.00%	284.05%	-4.63%	0.00%	0.00%
EPS Growth	12.22%	-55.41%	56.14%	47.06%	114.29%	5.71%	480.00%	218.75%	-16.00%	0.00%	0.00%
Operating Cash Flow Growth	2.65%	-81.70%	52.64%	1,550.00%	-12.07%	42.40%	80.73%	-93.00%	133.66%	0.00%	0.00%
Free Cash Flow Firm Growth	-18.67%	-41.01%	-51.48%	-64.08%	-59.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Invested Capital Growth	-20.40%	-20.61%	-45.02%	-32.47%	-36.22%	-52.71%	0.00%	0.00%	0.00%	0.00%	0.00%
Revenue Q/Q Growth	7.93%	1.17%	7.48%	5.65%	7.58%	2.96%	13.63%	10.84%	1.37%	18.52%	9.56%
EBITDA Q/Q Growth	148.72%	-56.40%	14.52%	-13.83%	22.76%	32.10%	10.45%	25.64%	-21.83%	2,967.88%	-112.25%
EBIT Q/Q Growth	158.02%	-57.94%	14.67%	-13.88%	23.20%	32.59%	10.72%	25.64%	-22.13%	2,135.58%	-117.87%
NOPAT Q/Q Growth	163.83%	-57.14%	16.75%	-15.55%	22.84%	30.16%	10.73%	24.14%	-17.92%	2,386.93%	-115.70%
Net Income Q/Q Growth	191.95%	-60.71%	18.40%	-15.81%	25.69%	34.79%	11.61%	25.05%	-23.82%	951.15%	-147.36%
EPS Q/Q Growth	206.06%	-62.92%	18.67%	-16.67%	21.62%	29.82%	11.76%	21.43%	-40.00%	566.67%	-193.75%
Operating Cash Flow Q/Q Growth	341.85%	-86.96%	701.70%	-77.77%	-21.21%	8.71%	8,566.30%	-98.82%	27.59%	37.98%	235.82%
Free Cash Flow Firm Q/Q Growth	17.57%	-46.63%	41.60%	-8.46%	-14.73%	-56.10%	4.82%	3.85%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-5.55%	0.90%	-14.55%	-0.49%	-5.73%	-19.15%	-4.64%	-3.33%	-18.53%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	42.99%	35.51%	43.33%	43.18%	45.69%	44.21%	42.09%	40.91%	39.50%	41.84%	29.32%
EBITDA Margin	16.32%	7.08%	16.43%	15.42%	18.90%	16.57%	12.91%	13.29%	11.72%	15.20%	-0.63%
Operating Margin	16.54%	7.12%	16.68%	15.66%	19.21%	16.91%	13.34%	13.75%	12.10%	14.99%	-0.87%
EBIT Margin	16.21%	6.78%	16.31%	15.29%	18.76%	16.38%	12.72%	13.05%	11.52%	14.99%	-0.87%
Profit (Net Income) Margin	12.80%	4.73%	12.19%	11.06%	13.88%	11.88%	9.08%	9.24%	8.19%	10.90%	-1.52%
Tax Burden Percent	81.77%	77.64%	78.26%	76.74%	78.30%	77.90%	78.11%	77.76%	78.88%	78.64%	76.94%
Interest Burden Percent	96.56%	89.87%	95.46%	94.28%	94.51%	93.12%	91.35%	91.03%	90.16%	92.43%	225.94%
Effective Tax Rate	18.23%	22.36%	21.74%	23.26%	21.70%	22.10%	21.89%	22.24%	21.12%	21.36%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	16.09%	16.33%	20.06%	19.05%	17.88%	15.88%	14.41%	10.15%	7.62%	9.29%	0.00%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	5.45%	2.33%	5.52%	5.05%	6.21%	5.46%	3.69%	3.47%	2.99%	4.30%	0.00%
Return on Assets (ROA)	4.31%	1.63%	4.13%	3.65%	4.59%	3.96%	2.63%	2.46%	2.12%	3.12%	0.00%
Return on Common Equity (ROCE)	16.09%	16.33%	20.06%	19.05%	17.88%	15.88%	14.41%	10.15%	7.62%	9.29%	0.00%
Return on Equity Simple (ROE_SIMPLE)	14.59%	0.00%	16.76%	16.41%	15.49%	0.00%	14.41%	10.15%	7.62%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	44	17	39	34	40	32	25	23	18	22	-0.97
NOPAT Margin	13.52%	5.53%	13.06%	12.02%	15.04%	13.17%	10.42%	10.69%	9.55%	11.79%	-0.61%
Net Nonoperating Expense Percent (NNEP)	-0.13%	-0.14%	-0.16%	-0.18%	-0.21%	-0.24%	-0.49%	-0.48%	-0.42%	-0.16%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	4.58%	1.84%	-	-	-	4.11%	-	-	-	4.01%	-
Cost of Revenue to Revenue	57.01%	64.49%	56.67%	56.82%	54.31%	55.79%	57.91%	59.09%	60.50%	58.16%	70.68%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	26.45%	28.38%	26.64%	27.52%	26.48%	27.31%	28.75%	27.16%	27.40%	26.85%	30.19%
Earnings before Interest and Taxes (EBIT)	53	21	49	43	50	40	30	27	22	28	-1.38
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	54	22	49	43	50	41	31	28	22	28	-0.99
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.50	2.55	2.05	2.00	2.04	1.93	1.93	1.83	1.62	0.32	0.00
Price to Tangible Book Value (P/TBV)	2.78	2.87	2.30	2.28	2.33	2.23	2.31	2.21	1.97	0.40	0.00
Price to Revenue (P/Rev)	1.75	1.76	1.50	1.40	1.47	1.44	1.25	1.28	1.21	0.21	0.00
Price to Earnings (P/E)	17.11	17.06	12.25	12.23	13.20	15.14	15.33	22.17	31.30	6.55	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	5.84%	5.86%	8.16%	8.18%	7.58%	6.60%	6.52%	4.51%	3.19%	15.28%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.08	0.10	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.57	0.71	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.58	0.73	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.72	0.91	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.31	0.39	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.29	0.37	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.14	0.15	0.15	0.16	0.17	0.19	0.24	0.25	0.25	0.31	0.00
Long-Term Debt to Equity	0.14	0.15	0.15	0.16	0.17	0.19	0.24	0.25	0.25	0.31	0.00
Financial Leverage	-2.40	-2.40	-2.43	-2.38	-2.41	-2.41	-2.45	-2.42	-2.41	-2.44	0.00
Leverage Ratio	4.68	4.59	4.84	5.01	4.84	4.91	5.32	5.37	5.17	5.29	0.00
Compound Leverage Factor	4.52	4.13	4.62	4.72	4.58	4.57	4.86	4.89	4.66	4.89	0.00
Debt to Total Capital	12.32%	13.09%	12.98%	14.12%	14.66%	16.30%	19.38%	19.75%	20.23%	23.37%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	12.32%	13.09%	12.98%	14.12%	14.66%	16.30%	19.38%	19.75%	20.23%	23.37%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	87.68%	86.92%	87.02%	85.88%	85.34%	83.70%	80.62%	80.25%	79.77%	76.62%	0.00%
Debt to EBITDA	0.71	0.72	0.65	0.72	0.79	1.04	1.17	1.66	2.22	2.13	0.00
Net Debt to EBITDA	-12.09	-11.53	-10.48	-10.34	-11.15	-12.78	-11.96	-16.26	-21.17	-17.03	0.00
Long-Term Debt to EBITDA	0.71	0.72	0.65	0.72	0.79	1.04	1.17	1.66	2.22	2.13	0.00
Debt to NOPAT	0.89	0.92	0.82	0.91	0.99	1.31	1.47	2.08	2.84	2.89	0.00
Net Debt to NOPAT	-15.10	-14.72	-13.24	-13.03	-13.94	-16.18	-14.96	-20.48	-27.00	-23.09	0.00
Long-Term Debt to NOPAT	0.89	0.92	0.82	0.91	0.99	1.31	1.47	2.08	2.84	2.89	0.00
Altman Z-Score	0.78	1.32	1.29	0.69	0.72	1.23	1.05	0.44	0.43	0.73	0.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.97	23.15	24.03	1.02	1.03	28.13	18.89	0.87	0.92	18.69	0.00
Quick Ratio	0.95	22.67	23.41	1.00	1.01	27.45	18.12	0.84	0.87	17.04	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	244	207	388	274	300	351	801	764	736	0.00	0.00
Operating Cash Flow to CapEx	47,900.99%	2,035.22%	44,326.12%	835.19%	36,255.77%	3,849.68%	0.00%	217.47%	17,460.42%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	132.92	99.16	174.29	112.03	109.91	126.71	304.21	309.75	341.80	0.00	0.00
Operating Cash Flow to Interest Expense	52.76	10.47	75.37	8.56	34.57	43.13	41.82	0.52	49.82	39.50	35.04
Operating Cash Flow Less CapEx to Interest Expense	52.65	9.96	75.20	7.53	34.47	42.01	42.27	0.28	49.53	39.50	35.04
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.34	0.34	0.34	0.33	0.33	0.33	0.29	0.27	0.26	0.29	0.00
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	10.84	10.54	8.89	10.92	11.61	10.37	7.56	9.96	10.60	9.02	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	33.67	34.63	41.05	33.41	31.44	35.20	48.29	36.65	34.44	40.47	0.00
Cash Conversion Cycle (CCC)	-33.67	-34.63	-41.05	-33.41	-31.44	-35.20	-48.29	-36.65	-34.44	-40.47	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-1,177	-1,115	-1,125	-982	-977	-924	-776	-741	-717	-605	0.00
Invested Capital Turnover	-1.13	-1.13	-1.15	-1.20	-1.13	-1.16	-2.13	-2.01	-1.89	-1.06	0.00
Increase / (Decrease) in Invested Capital	-199	-191	-349	-241	-260	-319	-776	-741	-717	0.00	0.00
Enterprise Value (EV)	96	118	-289	-259	-260	-309	-280	-307	-401	-893	0.00
Market Capitalization	2,124	2,027	1,633	1,447	1,410	1,277	1,031	957	824	134	134
Book Value per Share	$21.20	$19.80	$19.89	$18.09	$18.37	$17.54	$14.21	$13.88	$13.47	$25.45	$0.00
Tangible Book Value per Share	$19.03	$17.62	$17.70	$15.90	$16.03	$15.20	$11.85	$11.51	$11.09	$20.02	$0.00
Total Capital	970	914	916	843	811	790	664	651	636	550	0.00
Total Debt	120	120	119	119	119	129	129	129	129	129	0.00
Total Long-Term Debt	120	120	119	119	119	129	129	129	129	129	0.00
Net Debt	-2,027	-1,909	-1,922	-1,706	-1,670	-1,585	-1,311	-1,264	-1,225	-1,027	0.00
Capital Expenditures (CapEx)	0.20	1.08	0.38	2.51	0.26	3.11	-1.20	0.58	0.61	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,950	-76	-73	-1,530	-1,430	-51	-64	-1,270	-1,214	-48	0.00
Debt-free Net Working Capital (DFNWC)	-53	1,688	1,682	34	48	1,380	1,152	-163	-100	858	0.00
Net Working Capital (NWC)	-53	1,688	1,682	34	48	1,380	1,152	-163	-100	858	0.00
Net Nonoperating Expense (NNE)	2.37	2.43	2.62	2.68	3.07	3.18	3.21	3.06	2.58	1.67	1.43
Net Nonoperating Obligations (NNO)	-2,027	-1,909	-1,922	-1,706	-1,670	-1,585	-1,311	-1,264	-1,225	-1,027	0.00
Total Depreciation and Amortization (D&A)	0.34	0.91	0.35	0.36	0.39	0.46	0.46	0.49	0.39	0.39	0.39
Debt-free, Cash-free Net Working Capital to Revenue	-160.63%	-6.63%	-6.68%	-148.47%	-148.84%	-5.74%	-7.79%	-170.30%	-178.54%	-7.55%	0.00%
Debt-free Net Working Capital to Revenue	-4.37%	146.72%	153.97%	3.26%	4.99%	155.80%	139.32%	-21.87%	-14.65%	133.51%	0.00%
Net Working Capital to Revenue	-4.37%	146.72%	153.97%	3.26%	4.99%	155.80%	139.32%	-21.87%	-14.65%	133.51%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.05	$0.33	$0.91	$0.79	$0.94	$0.79	$0.59	$0.53	$0.43	$0.71	$0.00
Adjusted Weighted Average Basic Shares Outstanding	40.20M	40.06M	40.10M	39.18M	39.11M	36.03M	36.74M	36.60M	32.85M	16.57M	0.00
Adjusted Diluted Earnings per Share	$1.01	$0.33	$0.89	$0.75	$0.90	$0.74	$0.57	$0.51	$0.42	$0.70	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	41.68M	41.38M	41.43M	41.17M	41.09M	38.32M	38.40M	38.14M	36.95M	32.65M	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	40.40M	40.13M	40.10M	40.10M	40.00M	40.00M	37.68M	37.67M	37.66M	37.66M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	44	17	39	34	40	32	25	23	18	22	-0.97
Normalized NOPAT Margin	13.52%	5.53%	13.06%	12.02%	15.04%	13.17%	10.42%	10.69%	9.55%	11.79%	-0.61%
Pre Tax Income Margin	15.66%	6.10%	15.57%	14.42%	17.73%	15.25%	11.62%	11.88%	10.38%	13.86%	-1.97%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	29.05	9.87	22.02	17.48	18.23	14.54	11.56	11.14	10.16	13.21	-0.79
NOPAT to Interest Expense	24.22	8.05	17.63	13.74	14.61	11.69	9.47	9.13	8.43	10.39	-0.56
EBIT Less CapEx to Interest Expense	28.94	9.36	21.85	16.45	18.13	13.42	12.02	10.91	9.88	13.21	-0.79
NOPAT Less CapEx to Interest Expense	24.11	7.54	17.46	12.72	14.52	10.57	9.93	8.89	8.14	10.39	-0.56
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Skyward Specialty Insurance Group's Financials

When does Skyward Specialty Insurance Group's financial year end?

According to the most recent income statement we have on file, Skyward Specialty Insurance Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Skyward Specialty Insurance Group's net income changed over the last 3 years?

Skyward Specialty Insurance Group's net income appears to be on an upward trend, with a most recent value of $118.83 million in 2024, rising from $38.32 million in 2021. The previous period was $85.98 million in 2023. Check out Skyward Specialty Insurance Group's forecast to explore projected trends and price targets.

What is Skyward Specialty Insurance Group's operating income?

Skyward Specialty Insurance Group's total operating income in 2024 was $166.63 million, based on the following breakdown:

Total Gross Profit: $480.39 million
Total Operating Expenses: $313.76 million

How has Skyward Specialty Insurance Group revenue changed over the last 3 years?

Over the last 3 years, Skyward Specialty Insurance Group's total revenue changed from $550.18 million in 2021 to $1.15 billion in 2024, a change of 109.1%.

How much debt does Skyward Specialty Insurance Group have?

Skyward Specialty Insurance Group's total liabilities were at $2.94 billion at the end of 2024, a 28.1% increase from 2023, and a 73.5% increase since 2021.

How much cash does Skyward Specialty Insurance Group have?

In the past 3 years, Skyward Specialty Insurance Group's cash and equivalents has ranged from $42.11 million in 2021 to $121.60 million in 2024, and is currently $121.60 million as of their latest financial filing in 2024.

How has Skyward Specialty Insurance Group's book value per share changed over the last 3 years?

Over the last 3 years, Skyward Specialty Insurance Group's book value per share changed from 26.12 in 2021 to 19.80 in 2024, a change of -24.2%.

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This page (NASDAQ:SKWD) was last updated on 5/22/2025 by MarketBeat.com Staff

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Skyward Specialty Insurance Group (SKWD) Financials

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Skyward Specialty Insurance Group (SKWD) Financials

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