Skyward Specialty Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	118.83	85.98	39.4	38.32
Depreciation & Amortization	3.36	3.89	4.1	5.6
Gain (Loss) on Sale of Assets	-	-	-	-5.08
Gain (Loss) on Sale of Investments	-6.26	-11.07	15.71	-17.11
Stock-Based Compensation	9.4	8.53	2.29	0.52
Change in Accounts Receivable	-142.41	-40.02	-27.06	1.88
Reinsurance Recoverable	-234.63	19.19	-51.26	-3.14
Change in Accounts Payable	19.18	2.29	7.58	1.15
Change in Unearned Revenue	84.65	110.02	79.22	20.77
Change in Income Taxes	4.5	-1.89	-	-
Change in Insurance Reserves / Liabilities	467.88	172.74	162.21	124.27
Change in Other Net Operating Assets	29.67	0.46	-13.05	5.98
Other Operating Activities	-27.83	11.08	-0.71	5.2
Operating Cash Flow	305.12	338.19	208.94	175.29
Operating Cash Flow Growth	-9.78%	61.86%	19.20%	292.06%
Capital Expenditures	-4.22	-3.11	-2.33	-2.15
Purchase / Sale of Intangible Assets	-	-0.05	-	-
Cash Acquisitions	-	-	-	-10.55
Investment in Securities	-270.95	-505.62	-185.02	-155.66
Other Investing Activities	4	11.99	3.73	-6.76
Investing Cash Flow	-243.69	-493.81	-193.38	-183.01
Long-Term Debt Issued	107	50	-	-
Total Debt Repaid	-116.79	-50	-	-
Net Debt Issued (Repaid)	-9.79	-	-	-
Issuance of Common Stock	5.56	130.95	2.18	1.38
Financing Cash Flow	-4.23	130.95	2.18	1.38
Net Cash Flow	57.19	-24.68	17.74	-6.35
Free Cash Flow	300.89	335.08	206.61	173.13
Free Cash Flow Growth	-10.20%	62.18%	19.34%	306.06%
Free Cash Flow Margin	26.16%	37.82%	32.16%	31.76%
Free Cash Flow Per Share	7.27	8.74	6.33	5.33
Cash Interest Paid	8.57	10.67	5.76	4.67
Cash Income Tax Paid	36.98	15.8	-	-
Levered Free Cash Flow	-181.63	50.12	99.52	109.11
Unlevered Free Cash Flow	-175.7	56.39	103.52	111.99
Change in Working Capital	207.62	239.78	148.17	144.93

Updated Feb 23, 2026. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q