SKWDNasdaqFire, Marine & Casualty InsuranceFiscal year ends December 31
Skyward Specialty Insurance Group, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026
$60.62−0.61 (-1.00%)
Close on Oct 19, 2026
- Market cap
- $2.77B
- P/E (TTM)
- 14.1
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2020 to 2025
Net margin
12.0%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +23.2% | +30.2% | – | – | |
| Net income | +43.1% | +62.8% | – | – | |
| EPS, diluted | +41.8% | +49.8% | – | – | |
| Free cash flow | +33.8% | +24.9% | – | – |
Returns and balance sheet
6 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2020 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 18.9% | |
| Return on assets | – | – | 4.0% | |
| Capex to revenue | – | – | 0.4% | |
| Diluted shares | – | – | 42M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Skyward Specialty Insurance generated $1.44B from operations and spent $17.27M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$1.44B
Used
$17.27M
Capital expenditure$17.27M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin12.0%
×Asset turnover0.33×
×Equity multiplier4.72×
=Return on equity, FY202518.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 12.0% | 0.33× | 4.72× | 18.9% |
| FY2024 | 10.3% | 0.34× | 4.59× | 16.3% |
| FY2023 | 9.7% | 0.33× | 4.91× | 15.9% |
| FY2022 | 6.1% | 0.29× | 5.29× | 9.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$170.03M
- Cash generatingOperating cash flow above zero$408.08M
- Return on assets improvedROA up on the prior year4.0% → 4.6%
- Earnings backed by cashOperating cash flow above net income$408.08M vs $170.03M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise41M → 42M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.39 → 0.38