Bowhead Specialty Holdings Inc. (BOW)

BOW Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Premiums & Annuity Revenue	491.68	385.11	263.9	182.86
Total Interest & Dividend Income	57.83	40.12	19.37	4.73
Gain (Loss) on Sale of Investments	0.04	-0.02	-	-
Other Revenue	2.04	0.44	0.13	0.01
Total Revenue	551.59	425.66	283.4	187.6
Revenue Growth (YoY)	29.58%	50.20%	51.06%	-
Policy Benefits	328.02	248.1	166.28	111.76
Policy Acquisition & Underwriting Costs	46.51	32.4	20.94	15.19
Selling, General & Administrative	102.26	89.11	63.46	45.99
Total Operating Expenses	476.8	369.61	250.67	172.94
Operating Income	74.79	56.05	32.73	14.66
Interest Expense	-2.01	-0.73	-	-
Currency Exchange Gain (Loss)	-0.05	-0.07	0.02	-
Other Non Operating Income (Expenses)	-3.14	-1.92	-	-
EBT Excluding Unusual Items	69.59	53.34	32.75	14.66
Other Unusual Items	-2.29	-2.81	-0.63	-
Pretax Income	67.3	50.54	32.12	14.66
Income Tax Expense	13.51	12.29	7.07	3.41
Net Income	53.79	38.24	25.05	11.26
Net Income to Common	53.79	38.24	25.05	11.26
Net Income Growth	40.64%	52.69%	122.52%	-
Shares Outstanding (Basic)	33	29	24	24
Shares Outstanding (Diluted)	34	30	24	24
Shares Change (YoY)	13.68%	23.66%	-	-
EPS (Basic)	1.64	1.31	1.04	0.47
EPS (Diluted)	1.59	1.29	1.04	0.47
EPS Growth	23.26%	24.04%	121.75%	-
Free Cash Flow	326.02	291.18	232.41	177.67
Free Cash Flow Per Share	9.66	9.81	9.68	7.40
Operating Margin	13.56%	13.17%	11.55%	7.81%
Profit Margin	9.75%	8.98%	8.84%	6.00%
Free Cash Flow Margin	59.10%	68.41%	82.01%	94.71%
EBITDA	76.42	56.22	32.89	14.79
EBITDA Margin	13.85%	13.21%	11.61%	7.88%
D&A For EBITDA	1.63	0.17	0.17	0.13
EBIT	74.79	56.05	32.73	14.66
EBIT Margin	13.56%	13.17%	11.55%	7.81%
Effective Tax Rate	20.08%	24.32%	22.01%	23.23%
Revenue as Reported	551.59	425.66	283.4	187.6

Updated Feb 24, 2026. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q