Overview Dividends

(SKWD) Skyward Specialty Insurance - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US8309401029

General, Auto, Property, Workers, Liability

SKWD EPS (Earnings per Share)

EPS Growth (3Y CAGR): 47.59%
EPS Trend (3Y Correlation): 94.0%

SKWD Revenue

Revenue Growth (3Y CAGR): 29.23%
Revenue Trend (3Y Correlation): 98.6%

Risk via 10d forecast
Volatility	33.4%
Value at Risk 5%th	53.5%
Relative Tail Risk	-2.70%

Reward TTM
Sharpe Ratio	-0.01
Alpha	-11.97

Character TTM
Hurst Exponent	0.333
Beta	0.598
Beta Downside	0.573

Drawdowns 3y
Max DD	30.95%
Mean DD	7.42%
Median DD	4.64%

Description: SKWD Skyward Specialty Insurance November 11, 2025

Skyward Specialty Insurance Group, Inc. (NASDAQ: SKWD) is a Houston-based holding company that underwrites a broad suite of U.S. commercial property-and-casualty lines, including general and excess liability, professional liability, commercial auto, workers’ compensation, surety, agriculture, credit, and niche cannabis insurance. The firm, originally incorporated in 2006 as Houston International Insurance Group, rebranded to its current name in November 2020.

According to its most recent 10-K (FY 2023), Skyward reported net written premiums of roughly $420 million, a combined ratio of 93.5% (indicating underwriting profitability), and a return on equity (ROE) of about 12.8%-both above the industry median for specialty insurers. The balance sheet shows a leverage ratio of 1.6 ×, comfortably within regulatory limits, and an investment portfolio yielding ~4.2% after fees.

Key drivers for Skyward’s performance include: (1) the continued expansion of commercial construction and infrastructure spending in the United States, which fuels demand for property and liability coverage; (2) heightened climate-related loss exposure that pressures pricing and loss reserves across the P&C sector; and (3) the rapid growth of the legal cannabis market, where specialized insurance remains under-served and offers premium-earning opportunities.

For a deeper, data-rich analysis of SKWD’s valuation metrics and scenario modeling, you may find ValueRay’s platform a useful next step.

SKWD Stock Overview

Market Cap in USD	1,848m
Sub-Industry	Property & Casualty Insurance
IPO / Inception	2023-01-13
Return 12m vs S&P 500	-13.6%
Analyst Rating	3.83 of 5

SKWD Dividends

Currently no dividends paid

SKWD Growth Ratios

CAGR 3y	51.77%
CAGR/Max DD Calmar Ratio	1.67
CAGR/Mean DD Pain Ratio	6.98
Current Volume	255.6k
Average Volume	311.4k

Piotroski VR‑10 (Strict, 0-10) 4.0

Net Income (141.2m TTM) > 0 and > 6% of Revenue (6% = 80.3m TTM)

FCFTA 0.04 (>2.0%) and ΔFCFTA -6.61pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 161.4% (prev 129.8%; Δ 31.58pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.00 (>3.0%) and CFO 21.9m <= Net Income 141.2m (YES >=105%, WARN >=100%)

Net Debt (-287.9m) to EBITDA (127.2m) ratio: -2.26 <= 3.0 (WARN <= 3.5)

Current Ratio 6.41 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (41.9m) change vs 12m ago 1.07% (target <= -2.0% for YES)

Gross Margin 47.79% (prev 46.88%; Δ 0.91pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 32.67% (prev 30.27%; Δ 2.40pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 16.27 (EBITDA TTM 127.2m / Interest Expense TTM 7.72m) >= 6 (WARN >= 3)

Altman Z'' 3.52

(A) 0.47 = (Total Current Assets 2.56b - Total Current Liabilities 398.9m) / Total Assets 4.59b

(B) 0.05 = Retained Earnings (Balance) 223.9m / Total Assets 4.59b

(D) 0.06 = Book Value of Equity 233.9m / Total Liabilities 3.63b

Total Rating: 3.52 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 78.89

1. Piotroski 4.0pt = -1.0

2. FCF Yield 12.98% = 5.0

3. FCF Margin 15.13% = 3.78

4. Debt/Equity 0.12 = 2.49

5. Debt/Ebitda -2.26 = 2.50

6. ROIC - WACC (= 2.14)% = 2.67

7. RoE 16.11% = 1.34

8. Rev. Trend 98.63% = 7.40

9. EPS Trend 94.01% = 4.70

What is the price of SKWD shares?

As of November 14, 2025, the stock is trading at USD 48.75 with a total of 255,571 shares traded.
Over the past week, the price has changed by +6.77%, over one month by -0.79%, over three months by -2.07% and over the past year by -1.57%.

Is Skyward Specialty Insurance a good stock to buy?

Partly, yes. Based on ValueRay´s Fundamental Analyses, Skyward Specialty Insurance (NASDAQ:SKWD) is currently (November 2025) ok to buy, but has to be watched. It has a ValueRay Fundamental Rating of 78.89 and therefor a somewhat positive outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of SKWD is around 52.76 USD . This means that SKWD is currently overvalued and has a potential downside of 8.23%.

Is SKWD a buy, sell or hold?

Skyward Specialty Insurance has received a consensus analysts rating of 3.83. Therefore, it is recommended to buy SKWD.

Strong Buy: 3
Buy: 4
Hold: 5
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the SKWD price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	61.8	26.8%
Analysts Target Price	61.8	26.8%
ValueRay Target Price	58.4	19.8%

SKWD Fundamental Data Overview November 01, 2025

Market Cap USD = 1.85b (1.85b USD * 1.0 USD.USD)
P/E Trailing = 13.543
P/E Forward = 11.5075
P/S = 1.4739
P/B = 2.0614
P/EG = 0.7245
Beta = 0.571
Revenue TTM = 1.34b USD
EBIT TTM = 125.6m USD
EBITDA TTM = 127.2m USD
Long Term Debt = 76.5m USD (from longTermDebt, last fiscal year)
Short Term Debt = 100.0m USD (from shortTermDebt, last quarter)
Debt = 119.6m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -287.9m USD (from netDebt column, last quarter)
Enterprise Value = 1.56b USD (1.85b + Debt 119.6m - CCE 407.4m)
Interest Coverage Ratio = 16.27 (Ebit TTM 125.6m / Interest Expense TTM 7.72m)
FCF Yield = 12.98% (FCF TTM 202.5m / Enterprise Value 1.56b)
FCF Margin = 15.13% (FCF TTM 202.5m / Revenue TTM 1.34b)
Net Margin = 10.55% (Net Income TTM 141.2m / Revenue TTM 1.34b)
Gross Margin = 47.79% ((Revenue TTM 1.34b - Cost of Revenue TTM 698.7m) / Revenue TTM)
Gross Margin QoQ = 100.0% (prev 29.58%)
Tobins Q-Ratio = 0.34 (Enterprise Value 1.56b / Total Assets 4.59b)
Interest Expense / Debt = 1.61% (Interest Expense 1.92m / Debt 119.6m)
Taxrate = 24.19% (14.6m / 60.5m)
NOPAT = 95.2m (EBIT 125.6m * (1 - 24.19%))
Current Ratio = 6.41 (Total Current Assets 2.56b / Total Current Liabilities 398.9m)
Debt / Equity = 0.12 (Debt 119.6m / totalStockholderEquity, last quarter 961.4m)
Debt / EBITDA = -2.26 (Net Debt -287.9m / EBITDA 127.2m)
Debt / FCF = -1.42 (Net Debt -287.9m / FCF TTM 202.5m)
Total Stockholder Equity = 876.5m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.07% (Net Income 141.2m / Total Assets 4.59b)
RoE = 16.11% (Net Income TTM 141.2m / Total Stockholder Equity 876.5m)
RoCE = 13.18% (EBIT 125.6m / Capital Employed (Equity 876.5m + L.T.Debt 76.5m))
RoIC = 9.84% (NOPAT 95.2m / Invested Capital 967.8m)
WACC = 7.70% (E(1.85b)/V(1.97b) * Re(8.12%) + D(119.6m)/V(1.97b) * Rd(1.61%) * (1-Tc(0.24)))
Discount Rate = 8.12% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 2.85%
[DCF Debug] Terminal Value 81.20% ; FCFE base≈280.1m ; Y1≈345.6m ; Y5≈589.6m
Fair Price DCF = 244.2 (DCF Value 9.89b / Shares Outstanding 40.5m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 94.01 | EPS CAGR: 47.59% | SUE: 4.0 | # QB: 4
Revenue Correlation: 98.63 | Revenue CAGR: 29.23% | SUE: 4.0 | # QB: 1

Additional Sources for SKWD Stock

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Fund Manager Positions: Dataroma | Stockcircle