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Skyward Specialty Insurance Group, Inc. (SKWD)

As-reported financials and SEC filings for Skyward Specialty Insurance Group, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Skyward Specialty Insurance Group, Inc.

Skyward Specialty Insurance Group, Inc. is a specialty insurance company that offers commercial insurance products on both admitted and non-admitted bases, primarily in the United States. It serves businesses in underserved or niche markets requiring customized underwriting and claims solutions, providing coverage across multiple lines including general liability, professional liability, commercial auto, property, agriculture, credit, surety, and workers' compensation. The company also operates specialty reinsurance and has a subsidiary, Apollo, which underwrites specialty insurance at Lloyd’s of London.

Snapshot

Revenue
$1.42B
Revenue growth (YoY)
23.2%
Net income
$170.0M
Diluted EPS
$4.07
Gross margin
Operating margin
Net margin
12.0%
FCF margin
28.4%
ROE
16.8%
net income / fiscal-year-end equity
P/E
13.6×
trailing when available, otherwise FY EPS
Market cap
$2.36B
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Skyward Specialty Insurance Group

  • Revenue grew 23.2% to $1.4B in FY2025, slower than the 29.8% the year before.
  • Most recent quarter Q2 FY2026: revenue $490M, up 53.0% from Q2 FY2025.
  • Free cash flow was $403M in FY2025, 28.4% of revenue.
  • Net income rose 43.1% to $170M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Skyward Specialty Insurance Group’s fundamentals sit among the 88 insurance companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Net margin12.0%
53rd percentile of 82
FCF margin28.4%
81st percentile of 55
Revenue growth (YoY)+23.2%
74th percentile of 88
ROE16.8%
60th percentile of 73
P/E13.6×
65th percentile of 72
Short interest3.17d
38th percentile of 87

No reported insider purchases (code P) in the last 90 days; 1 insider sale totaling $430,963. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 6 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+6 quant / multi-strat
Initiated / added
1
1 new, 0 added
Reduced / exited
6
5 trimmed, 1 exited
Combined position
$39.9M
reported long value
InvestorAs ofPosition valueSharesChange
Two Sigma InvestmentsquantQ2 2026$14.0M239.5KReduced
Point72 Asset ManagementquantQ2 2026$13.0M222.1KReduced
D. E. ShawquantQ2 2026$5.2M89.1KReduced
AQR Capital ManagementquantQ2 2026$2.8M48.1KReduced
Renaissance TechnologiesquantQ2 2026$2.6M45.0KReduced
Millennium ManagementquantQ2 2026$2.4M40.6KNew

No longer held by: Citadel Advisors (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
1
$431K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-06-12
filed 2026-06-15
Schmitt Thomas NCPO, Skyward GroupSell8.4K$51.32$431K
2026-05-21
Kuczinski Anthony JDirectorBuy1.0K$47.20$47K
2026-05-21
Kuczinski Anthony JDirectorBuy800$47.00$38K
2026-05-21
Kuczinski Anthony JDirectorBuy200$47.00$9K
2026-05-11
filed 2026-05-12
Ashe Gena LDirectorSell500$46.35$23K
2026-05-11
filed 2026-05-12
Ashe Gena LDirectorSell140$46.35$6K
2026-05-11
filed 2026-05-12
Ashe Gena LDirectorSell100$46.35$5K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
1.8M
settled 2026-08-14
Change vs prior
-1.6%
vs previous settlement
Days to cover
3.17
at avg daily volume
Avg daily volume
558.4K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-141.8M-1.6%3.17
2026-07-311.8M-12.4%3.83
2026-07-152.1M+6.9%3.14
2026-06-301.9M+41.7%2.40
2026-06-151.4M+2.0%3.53
2026-05-291.3M+6.5%3.93
2026-05-151.2M-3.1%2.67
2026-04-301.3M-5.4%3.67

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$1.42B$1.15B$886.0M$642.4M$550.2M
Gross profit
Operating income
Net income$170.0M$118.8M$86.0M$39.4M$38.3M
Diluted EPS$4.07$2.87$2.24$1.21$1.18

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$168.5M$121.6M$65.9M$45.4M$42.1M
Current assets
Total assets$4.79B$3.73B$2.95B$2.36B$2.12B
Current liabilities
Long-term debt
Total liabilities$3.78B$2.94B$2.29B$1.94B$1.69B
Total equity$1.01B$794.0M$661.0M$421.7M$426.1M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$408.1M$305.1M$338.2M$208.9M$175.3M
Capital expenditure$5.5M$4.2M$3.1M$2.3M$2.2M
Free cash flow$402.6M$300.9M$335.1M$206.6M$173.1M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$489.5M53.0%$49.0M$1.07
Q1 FY2026$475.9M44.8%$49.7M$1.09
Q4 FY2025$385.6M26.7%$43.2M$1.03
Q3 FY2025$382.5M27.1%$45.9M$1.10
Q2 FY2025$319.9M14.3%$38.8M$0.93
Q1 FY2025$328.5M24.0%$42.1M$1.01
Q4 FY2024$304.4M23.6%$14.4M$0.35
Q3 FY2024$300.9M25.8%$36.7M$0.89

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorFinancials
SIC industryFire, Marine & Casualty Insurance
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2011
SEC CIK1519449

Selected SEC filings

10-K2026-03-02
View on EDGAR →
10-Q2026-08-07
View on EDGAR →
10-Q2026-05-11
View on EDGAR →
8-K2026-08-20
View on EDGAR →
8-K2026-08-04
View on EDGAR →
8-K2026-07-15
View on EDGAR →
8-K2026-05-11
View on EDGAR →

Largest insurance peers

All insurance stocksAll Financials companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.