Skyward Specialty Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Premiums Earned	1,305	1,057	829.14	615.99	499.82
Investment Income	83.62	80.6	40.34	36.93	24.65
Net Gains on Investments	22.15	6.34	11.05	-15.71	17.11
Total Other Revenues	6.27	6.54	5.43	5.2	8.61
Revenue	1,417	1,150	885.97	642.42	550.18
Revenue Growth (YoY)	23.16%	29.82%	37.91%	16.77%	21.73%
Insurance Benefits & Claims	795.02	669.81	515.24	402.51	354.41
Policy Amortization Costs	377.36	311.76	243.44	182.17	138.5
Other Operating Expenses	19.82	6.4	7.16	1.55	4.34
Operating Income	224.34	162.24	120.13	56.19	52.93
Interest Expense	-7.92	-9.5	-10.02	-6.41	-4.62
Total Non-Operating Income (Expense)	-7.92	-9.5	-10.02	-6.41	-4.62
Pretax Income	216.42	152.74	110.1	49.78	48.31
Provision for Income Taxes	46.4	33.91	24.12	10.39	9.99
Net Income	170.03	118.83	84.31	20.52	19.81
Net Income Attributable to Preferred Dividends	-	-	1.68	18.88	18.51
Net Income to Common	170.03	118.83	84.31	20.52	19.81
Net Income Growth	43.09%	40.95%	310.91%	3.57%	-
Shares Outstanding (Basic)	40	40	36	17	17
Shares Outstanding (Diluted)	42	41	38	33	32
Shares Change (YoY)	1.04%	7.99%	17.35%	0.57%	100.25%
EPS (Basic)	4.21	2.97	2.34	1.24	1.21
EPS (Diluted)	4.07	2.87	2.24	1.21	1.18
EPS Growth	41.81%	28.13%	85.12%	2.54%	-
Shares Outstanding	40.51	40.13	39.86	-	-
Free Cash Flow	402.62	300.89	335.08	206.61	173.13
Free Cash Flow Growth	33.81%	-10.20%	62.18%	19.34%	306.06%
Free Cash Flow Per Share	9.63	7.27	8.74	6.33	5.33
Operating Margin	15.84%	14.10%	13.56%	8.75%	9.62%
Profit Margin	12.00%	10.33%	9.71%	6.13%	6.96%
FCF Margin	28.42%	26.16%	37.82%	32.16%	31.47%
EBITDA	227.88	165.59	124.02	60.29	58.53
EBITDA Margin	16.09%	14.40%	14.00%	9.38%	10.64%
EBIT	224.34	162.24	120.13	56.19	52.93
EBIT Margin	15.84%	14.10%	13.56%	8.75%	9.62%
Effective Tax Rate	21.44%	22.20%	21.91%	20.86%	20.68%

Updated Feb 23, 2026. Data Source: Fiscal.ai. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q