Skyward Specialty Insurance Group, Inc. SKWD
Skyward Specialty was formed as a Delaware corporation on January 3, 2006 as an insurance holding company. We operated under the name Houston International Insurance Group, Ltd. until we re-branded as Skyward Specialty in November 2020. References to "the Company," "we," "our," "us" or like terms refer to the business of Skyward Specialty Insurance Group, Inc. and its subsidiaries.
We are a growing specialty insurance company delivering commercial insurance products and solutions on a non-admitted (or E&S) and admitted basis, predominantly in the United States. We focus our business on markets that are underserved, dislocated and/or for which standard insurance coverages are insufficient or inadequate to meet the needs of businesses, including our customers and prospective customers operating in these markets. Our customers typically require highly specialized, customized underwriting solutions and claims capabilities. As such, we develop and deliver tailored insurance products and services to address each of the niche markets we serve.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $12.4M | $10.7M | $9.8M | $5.2M | $4.0M | — |
| Interest expense | $7.9M | $9.5M | $10.0M | $6.4M | $4.6M | — |
| Pre-tax income | $216.4M | $152.7M | $110.1M | $49.8M | $48.3M | — |
| Income tax | $46.4M | $33.9M | $24.1M | $10.4M | $10.0M | — |
| Net income | $170.0M | $118.8M | $86.0M | $39.4M | $38.3M | — |
| EPS, basic | 4.21 | 2.97 | 2.34 | 1.24 | 1.21 | — |
| EPS, diluted | 4.07 | 2.87 | 2.24 | 1.21 | 1.18 | — |
| Shares, diluted (wtd. avg.) | 41.8M | 41.4M | 38.3M | 32.7M | 32.5M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $168.5M | $121.6M | $100.3M | $125.0M | $107.3M | $113.6M |
| Property, plant and equipment | $15.1M | $12.2M | $9.1M | $8.7M | $9.6M | — |
| Goodwill | $65.7M | $65.7M | $65.7M | $65.7M | $65.7M | — |
| Other intangibles | $22.3M | $21.6M | $22.7M | $24.1M | $25.6M | — |
| Total assets | $4.79B | $3.73B | $2.95B | $2.36B | $2.12B | — |
| Total liabilities | $3.78B | $2.94B | $2.29B | $1.94B | $1.69B | — |
| Retained earnings | $267.1M | $97.1M | -$21.7M | -$105.4M | -$144.8M | — |
| Total equity | $1.01B | $794.0M | $661.0M | $421.7M | $426.1M | $303.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $408.1M | $305.1M | $338.2M | $208.9M | $175.3M | — |
| Depreciation and amortisation | $3.5M | $3.4M | $3.9M | $4.1M | $5.6M | — |
| Stock-based compensation | $12.0M | $9.4M | $8.5M | $2.3M | $522.0K | — |
| Capital expenditure | $5.5M | $4.2M | $3.1M | $2.3M | $2.2M | — |
| Investing cash flow | -$366.9M | -$243.7M | -$493.8M | -$193.4M | -$183.0M | — |
| Financing cash flow | $411.0K | -$4.2M | $130.9M | $2.2M | $1.4M | — |
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 0001519449-26-000015.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | $4.0M | $5.2M | $9.8M | $10.7M | $12.4M |
| Gross profit | — | — | — | — | — | — |
| Net income | — | $38.3M | $39.4M | $86.0M | $118.8M | $170.0M |
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
- 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
- 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
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Officer or director change Item 5.02
- Results announced Item 2.02
- 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
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
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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