SKWD FINANCIAL STATEMENTS

Skyward Specialty Insurance Group, Inc. Common Stock — balance sheet, income statement and cash flow trends

SKWDSkyward Specialty Insurance Group, Inc. Common Stock

🇺🇸 USA · NASDAQ · Financial Services · Insurance - Property & Casualty

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Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue1.5 B $+22.2%

Gross Profit460.6 M $+36.0%

Operating Income227.1 M $+44.4%

EBITDA251 M $+49.6%

Net Income177.7 M $+43.2%

Peer Comparison· Insurance - Property & Casualty

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
SKWD	—	—	—	12.0%
TURSG	—	—	—	—
DFY	—	—	—	6.9%
GJF	—	—	—	—
SUN	—	—	—	5.6%
IAG	—	—	—	6.9%
Industry median	—	—	—	10.8%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity1.2 B $19%
Current Liabilities5.2 B $80%
Long-term Liabilities76.6 M $1%

Key Figures

YoY change

Total Assets6.5 B $+62.4%

Total Liabilities5.3 B $+67.4%

Total Equity1.2 B $+44.0%

Cash & ST Investments1.9 B $+49.7%

Total Debt486 M $+306.5%

Net Debt230.1 M $+3,370.9%

Peer Comparison· Insurance - Property & Casualty

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
SKWD	0.84	39.7%	-5.47	18.7%
TURSG	1.36	0.0%	—	30.1%
DFY	1.25	43.4%	1.65	30.8%
GJF	—	—	—	11.2%
SUN	—	30.6%	0.99	34.1%
IAG	—	49.8%	1.48	26.4%
Industry median	0.89	27.1%	-0.70	26.4%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
SKWD	0.84	39.7%	-5.47	18.7%
HCI	1.07	6.2%	-2.13	41.7%
HMN	0.15	40.4%	0.36	9.8%
STC	0.94	47.0%	1.72	50.6%
PLMR	0.95	31.0%	-1.70	26.5%
KMPR	0.33	35.6%	5.23	21.3%
Industry median	0.89	27.1%	-0.70	26.4%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow427.9 M $+39.1%

Capital Expenditures7.5 M $+79.8%

Free Cash Flow424.3 M $+39.8%

Dividends Paid232 M $—

Peer Comparison· Insurance - Property & Casualty

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
SKWD	28.8%	28.6%	0.5%	240.8%
TURSG	—	—	—	100.0%
DFY	8.1%	6.3%	1.8%	116.7%
GJF	—	—	—	—
SUN	20.9%	20.9%	0.0%	373.0%
IAG	6.7%	6.5%	6.7%	97.5%
Industry median	16.6%	15.9%	0.6%	149.9%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
SKWD	28.8%	28.6%	0.5%	240.8%
HCI	46.6%	46.4%	0.2%	142.8%
HMN	28.6%	28.6%	0.0%	286.9%
STC	7.5%	5.0%	2.5%	178.6%
PLMR	37.7%	36.9%	0.8%	187.2%
KMPR	10.5%	9.8%	0.7%	1,177.3%
Industry median	16.6%	15.9%	0.6%	149.9%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
SKWD	—	—	—	12.0%
HCI	—	—	—	32.6%
HMN	—	—	—	10.0%
STC	—	—	—	4.2%
PLMR	—	—	—	20.2%
KMPR	—	—	—	0.9%
Industry median	—	—	—	10.8%