Bowhead Specialty Holdings Inc. BOW
We were founded in September 2020, backed by capital provided by GPC Partners Investments (SPV III) LP ("GPC Fund"), a private equity fund managed by Gallatin Point Capital LLC ("Gallatin Point"), and our strategic partner, AmFam, to take advantage of favorable pricing environments, and to address a growing and unmet demand from brokers and policyholders for specialized insurance solutions and quality service in complex lines of business. Our principal objective is to create and sustain superior returns for our stockholders by generating consistent, underwriting profits across our product offerings and through all market cycles, while prudently managing capital.
We offer commercial specialty property and casualty ("P&C") insurance products to policyholders that vary in size, industry and complexity, focusing on casualty, professional liability, and healthcare liability risks. Our products are delivered through two complementary underwriting models designed to support sustainable and profitable growth across market cycles: a "craft" model for large, complex, higher-severity risks, and a "digital" model for smaller, simpler, and scalable business.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $551.6M | $425.7M | $283.4M | $187.6M | — |
| Total operating expenses | $102.3M | $89.1M | $63.5M | $46.0M | — |
| Pre-tax income | $67.3M | $50.5M | $32.1M | $14.7M | — |
| Income tax | $13.5M | $12.3M | $7.1M | $3.4M | — |
| Net income | $53.8M | $38.2M | $25.0M | $11.3M | — |
| EPS, basic | 1.64 | 1.31 | 1.04 | 0.47 | — |
| EPS, diluted | 1.59 | 1.29 | 1.04 | 0.47 | — |
| Shares, diluted (wtd. avg.) | 33.7M | 29.7M | 24.0M | 24.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $193.5M | $97.5M | $118.1M | $80.7M | $87.5M |
| Property, plant and equipment | $10.6M | $6.8M | $7.6M | — | — |
| Total assets | $2.37B | $1.65B | $1.03B | — | — |
| Long-term debt | $146.4M | $0 | — | — | — |
| Total liabilities | $1.92B | $1.28B | $835.8M | — | — |
| Retained earnings | $116.7M | $62.9M | $24.7M | — | — |
| Total equity | $448.3M | $370.2M | $192.1M | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | $331.6M | $294.3M | $236.2M | $181.6M | — |
| Depreciation and amortisation | $1.8M | $3.9M | $2.3M | $727.0K | — |
| Stock-based compensation | $7.2M | $4.1M | $683.0K | $368.0K | — |
| Capital expenditure | $5.6M | $3.1M | $3.8M | $4.0M | — |
| Investing cash flow | -$464.4M | -$325.9M | -$274.8M | -$187.5M | — |
| Financing cash flow | $144.5M | $133.9M | $77.7M | -$1.0M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-011089.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | — | $187.6M | $283.4M | $425.7M | $551.6M |
| Gross profit | — | — | — | — | — |
| Net income | — | $11.3M | $25.0M | $38.2M | $53.8M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed Item 1.01
- Results announced Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Material agreement signed Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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