Bowhead Specialty Holdings Inc. (BOW)

BOW Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Premiums & Annuity Revenue	464.22	385.11	263.9	182.86
Total Interest & Dividend Income	53.47	40.12	19.37	4.73
Gain (Loss) on Sale of Investments	-0.03	-0.02	-	-
Other Revenue	1.58	0.44	0.13	0.01
Total Revenue	519.24	425.66	283.4	187.6
Revenue Growth (YoY)	33.43%	50.20%	51.06%	-
Policy Benefits	303.87	248.1	166.28	111.76
Policy Acquisition & Underwriting Costs	42.48	32.4	20.94	15.19
Selling, General & Administrative	101.71	89.11	63.46	45.99
Total Operating Expenses	448.06	369.61	250.67	172.94
Operating Income	71.19	56.05	32.73	14.66
Interest Expense	-1.02	-0.73	-	-
Currency Exchange Gain (Loss)	-0.07	-0.07	0.02	-
Other Non Operating Income (Expenses)	-3.14	-1.92	-	-
EBT Excluding Unusual Items	66.96	53.34	32.75	14.66
Other Unusual Items	-1.95	-2.81	-0.63	-
Pretax Income	67.74	50.54	32.12	14.66
Income Tax Expense	15.19	12.29	7.07	3.41
Net Income	52.55	38.24	25.05	11.26
Net Income to Common	52.55	38.24	25.05	11.26
Net Income Growth	78.61%	52.69%	122.52%	-
Shares Outstanding (Basic)	33	29	24	24
Shares Outstanding (Diluted)	25,364	30	24	24
Shares Change (YoY)	92929.08%	23.66%	-	-
EPS (Basic)	1.61	1.31	1.04	0.47
EPS (Diluted)	1.53	1.29	1.04	0.47
EPS Growth	42.10%	24.04%	121.75%	-
Free Cash Flow	328.3	291.18	232.41	177.67
Free Cash Flow Per Share	0.01	9.81	9.68	7.40
Operating Margin	13.71%	13.17%	11.55%	7.81%
Profit Margin	10.12%	8.98%	8.84%	6.00%
Free Cash Flow Margin	63.23%	68.41%	82.01%	94.71%
EBITDA	69.81	56.22	32.89	14.79
EBITDA Margin	13.44%	13.21%	11.61%	7.88%
D&A For EBITDA	-1.38	0.17	0.17	0.13
EBIT	71.19	56.05	32.73	14.66
EBIT Margin	13.71%	13.17%	11.55%	7.81%
Effective Tax Rate	22.43%	24.32%	22.01%	23.23%
Revenue as Reported	519.24	425.66	283.4	187.6

Updated Nov 4, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q