(BOW) Bowhead Specialty Holdings - Overview
Sector: Financial Services | Industry: Insurance - Property & Casualty | Exchange: NYSE (USA) | Market Cap: 929m USD | Total Return: -24.3% in 12m
Avg Turnover: 6.09M
Qual. Beats: 3
Rev. Trend: 99.2%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Bowhead Specialty Holdings Inc. (NYSE: BOW) is a New York-based provider of non-admitted commercial property and casualty insurance. The firm focuses on complex risk categories including casualty, professional liability, and healthcare solutions. Its casualty division targets high-exposure sectors such as construction and heavy manufacturing, while its professional liability segment covers specialized risks like D&O, cyber, and fiduciary liability for financial institutions.
The company operates within the Excess and Surplus (E&S) market, a segment of the insurance industry that covers risks typically rejected by standard carriers due to their unique or high-risk nature. Unlike admitted insurers, E&S providers often have greater flexibility in rate and form filings, allowing them to price premiums according to specific risk profiles. Bowhead utilizes its Baleen Specialty platform to apply technology-driven underwriting to small and mid-sized risks, distributing products through wholesale and retail partnerships.
Investors can evaluate the company’s technical underwriting margins and historical loss ratios on ValueRay. Founded in 2020, the company rebranded from Bowhead Holdings Inc. in early 2024 to reflect its specialized market focus.
- Underwriting profitability in casualty lines drives core earnings and loss ratio performance
- Expansion of Baleen Specialty technology platform improves operating leverage and scale
- Surplus lines market capacity and rate hardening dictate premium growth potential
- Professional liability and healthcare segments face rising litigation costs and social inflation
- Investment income volatility impacts net income amid shifting interest rate environments
| Net Income: 58.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -0.51 > 1.0 |
| NWC/Revenue: 283.7% < 20% (prev -29.78%; Δ 313.5% < -1%) |
| CFO/TA 0.14 > 3% & CFO 347.5m > Net Income 58.4m |
| Net Debt/EBITDA: error (cannot be calculated) |
| Current Ratio: 267.5 > 1.5 & < 3 |
| Outstanding Shares: last quarter (33.3m) vs 12m ago -1.27% < -2% |
| Gross Margin: 34.41% > 18% (prev 0.34%; Δ 3.41k% > 0.5%) |
| Asset Turnover: 27.58% > 50% (prev 26.11%; Δ 1.47% > 0%) |
| Interest Coverage Ratio: 14.90 > 6 (EBITDA TTM 75.4m / Interest Expense TTM 4.93m) |
| A: 0.67 (Total Current Assets 1.66b - Total Current Liabilities 6.21m) / Total Assets 2.48b |
| B: 0.05 (Retained Earnings 132.7m / Total Assets 2.48b) |
| C: 0.03 (EBIT TTM 73.4m / Avg Total Assets 2.12b) |
| D: 0.06 (Book Value of Equity 129.9m / Total Liabilities 2.02b) |
| Altman-Z'' = 4.86 = AA |
| DSRI: 1.11 (Receivables 517.9m/366.4m, Revenue 583.6m/457.7m) |
| GMI: 0.98 (GM 34.41% / 33.83%) |
| AQI: 1.08 (AQ_t 0.33 / AQ_t-1 0.30) |
| SGI: 1.28 (Revenue 583.6m / 457.7m) |
| TATA: -0.12 (NI 58.4m - CFO 347.5m) / TA 2.48b) |
| Beneish M = -2.83 (Cap -4..+1) = A |
As of May 26, 2026, the stock is trading at USD 28.30 with a total of 178,000 shares traded.
Over the past week, the price has changed by +0.18%,
over one month by +17.62%,
over three months by +8.18% and
over the past year by -24.33%.
Bowhead Specialty Holdings has received a consensus analysts rating of 3.60. Therefore, it is recommended to hold BOW.
- StrongBuy: 0
- Buy: 3
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 30.9 | 9% |
P/E Trailing = 16.3584
P/E Forward = 13.4771
P/S = 1.5898
P/B = 2.0239
Revenue TTM = 583.6m USD
EBIT TTM = 73.4m USD
EBITDA TTM = 75.4m USD
Long Term Debt = 146.5m USD (from longTermDebt, last quarter)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = unknown
Enterprise Value = 467.1m USD (929.3m + (null Debt) - CCE 462.2m)
Interest Coverage Ratio = 14.90 (Ebit TTM 73.4m / Interest Expense TTM 4.93m)
EV/FCF = 8.51x (Enterprise Value 467.1m / FCF TTM 54.9m)
FCF Yield = 11.75% (FCF TTM 54.9m / Enterprise Value 467.1m)
FCF Margin = 9.41% (FCF TTM 54.9m / Revenue TTM 583.6m)
Net Margin = 10.00% (Net Income TTM 58.4m / Revenue TTM 583.6m)
Gross Margin = 34.41% ((Revenue TTM 583.6m - Cost of Revenue TTM 382.8m) / Revenue TTM)
Gross Margin QoQ = 40.91% (prev 31.27%)
Tobins Q-Ratio = 0.19 (Enterprise Value 467.1m / Total Assets 2.48b)
Interest Expense / Debt = unknown (Interest Expense 4.93m / Debt none)
Taxrate = 22.17% (4.56m / 20.6m)
NOPAT = 57.1m (EBIT 73.4m * (1 - 22.17%))
Current Ratio = 25.45 (Total Current Assets 1.66b / Total Current Liabilities 65.3m)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = unknown (Net Debt none / EBITDA 75.4m)
Debt / FCF = unknown (Net Debt none / FCF TTM 54.9m)
Total Stockholder Equity = 435.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.76% (Net Income 58.4m / Total Assets 2.48b)
RoE = 13.39% (Net Income TTM 58.4m / Total Stockholder Equity 435.9m)
RoCE = 12.60% (EBIT 73.4m / Capital Employed (Equity 435.9m + L.T.Debt 146.5m))
RoIC = 2.31% (NOPAT 57.1m / Invested Capital 2.47b)
WACC = 6.53% (E(929.3m)/V(929.3m) * Re(6.53%) + (debt-free company))
Discount Rate = 6.53% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 47.74 | Cagr: 2.44%
[DCF] Terminal Value 77.95% ; FCFF base≈52.1m ; Y1≈59.6m ; Y5≈87.4m
[DCF] Fair Price = 40.06 (EV 1.32b - Net Debt 0.0 = Equity 1.32b / Shares 32.8m; r=8.35% [WACC [floored]]; 5y FCF grow 14.83% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 3.01 | # QB: 3
Revenue Correlation: 99.19 | Revenue CAGR: 39.50% | SUE: 0.13 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.47 | Chg30d=+1.70% | Revisions=+20% | Analysts=7
EPS next Quarter (2026-09-30): EPS=0.51 | Chg30d=-0.04% | Revisions=+0% | Analysts=7
EPS current Year (2026-12-31): EPS=2.00 | Chg30d=+3.37% | Revisions=+40% | GrowthEPS=+21.2% | GrowthRev=+23.4%
EPS next Year (2027-12-31): EPS=2.42 | Chg30d=+1.31% | Revisions=-11% | GrowthEPS=+21.0% | GrowthRev=+18.1%
[Analyst] Revisions Ratio: +40%