Skyward Specialty Insurance Group, Inc.(SKWD)Stock Analysis
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Rank #375 of 2,879 stocksTOP 25%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
SKWD Stock Analysis & AI Quality Score
AI stock analysis and institutional research for Skyward Specialty Insurance Group, Inc. (SKWD), a Financials sector company. 13F Pro's AI-powered ranking engine scores SKWD at 69.3/100 on a 32-signal composite quality model, placing it at rank #375 of 2,879 stocks — the top 25% of the AI-ranked universe. SKWD scores in the top quartile across free cash flow (99.7), profitability (99.5), earnings quality (80.2). Areas of concern include revenue scale (3.5), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q1 2026), Skyward Specialty Insurance Group, Inc. reports quarterly revenue of $475.9M, net income of $49.7M, an operating margin of 13.0%. Top institutional holders of SKWD by reported 13-F value include BlackRock,, REINHART PARTNERS,, Invesco Ltd., based on the most recent SEC filings. SKWD trades on the Nasdaq exchange and files with the SEC under CIK 1519449. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate SKWD daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Skyward Specialty Insurance Group, Inc. directly from SEC EDGAR. Skyward Specialty Insurance Group, Inc.'s 13F Pro composite quality score has ranged between 51 and 71 since 2023, currently 69.3 — an improving long-term trajectory across 18 quarterly and live scoring snapshots.
What's Driving SKWD's Business? Latest 10-Q Breakdown
AI-extracted from Skyward Specialty Insurance Group, Inc.'s 10-Q filed 2026-05-11 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Net income of $49.7M (+18% YoY) driven by Apollo acquisition contributing $70.1M net earned premiums and $22.2M net income in first quarter post-close.
Biggest Revenue Drivers
Total revenue: $475.9M+45% YoY
Growth from both Skyward Specialty segment (+21.2%) and Apollo segment contribution of $70.1M from January 1, 2026 acquisition close.
Increased income from larger fixed income portfolio post-Apollo acquisition and higher book yield of 5.3%.
Apollo managing agency fees and profit commission from managed syndicates; not present in prior year.
Lower net unrealized gains and realized gains on investment securities compared to prior year.
Largest Expense Items
Includes $22.7M from Apollo segment; net expense ratio of 28.4% improved from 28.1%.
Margins: Combined ratio improved to 89.5% from 90.5% YoY, reflecting better loss and expense ratios. Skyward Specialty segment combined ratio of 88.9% improved slightly to 89.2%; Apollo segment contributed 85.3% combined ratio. Gross margin benefited from premium growth and operational leverage.
Watch Items from the Filing
- Apollo acquisition integration risk: $559.1M purchase price ($371.1M cash + 3.68M shares); disclosure controls evaluation excluded Apollo citing ongoing integration through 2026.
- Increased debt leverage: $300M Term Loan Facility drawn, $114.5M Revolving Credit drawn, total debt of $466.4M; debt to capital ratio management and covenant compliance required.
- Goodwill and intangible asset concentration: $473.3M on balance sheet (39% of stockholders' equity); indefinite-lived Lloyd's syndicate capacity of $200M represents significant acquisition value concentration.
- Derivative hedge losses: $31.3M pre-tax loss on commodity put options for dairy/livestock risk in Q1 2026; notional exposure of $188.2M reflects significant economic hedge position.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q1 2026
$475.9M
Net Income
Q1 2026
$49.7M
Free Cash Flow
Q1 2026
$116.5M
Operating Margin
Q1 2026
13.0%
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+157.5% YoYNet Income
+343.7% YoYEPS (Diluted)
+244.9% YoYTotal Assets
+126.2% YoYOp. Cash Flow
+132.8% YoY| Metric | FY 2025 | FY 2021 | FY 2020 |
|---|---|---|---|
| Revenue | $1.42B +157.5% | $550.2M | — |
| Net Income | $170.0M +343.7% | $38.3M | — |
| EPS (Diluted) | $4.07 +244.9% | $1.18 | — |
| Total Assets | $4.79B +126.2% | $2.12B | — |
| Operating Cash Flow | $408.1M +132.8% | $175.3M | — |
AI Insight: SKWD Financial Trends
Skyward drove 27% YoY revenue growth to $476M in Q1 2026, but equity leverage rose sharply to 0.82x amid $1B+ debt accumulation.
• Revenue surged 27% year-over-year from $329M (Q1 2025) to $476M (Q1 2026); six of eight quarters show sequential or YoY growth.
• Net income increased 19% YoY to $50M in Q1 2026 from $42M in Q1 2025, with profitability stable despite revenue scale-up.
• Operating cash flow averaged $108M over latest four quarters, though Q4 2025 dipped to $52M—volatility in collection cycles.
⚠ Total debt jumped 40% year-over-year from $724M (Q2 2024) to $1,010M (Q4 2025), now $1,225M (Q1 2026); equity leverage rising.
⚠ Equity grew only 69% cumulatively over eight quarters while debt tripled; debt-to-equity ratio climbed from near 0% to 0.82x.
AI Insight: SKWD Ratio Trends
SKWD's profitability metrics have compressed across all measures since Q3 2025, with OpMargin falling 280 basis points and ROIC declining 490 basis points to Q1 2026 lows.
• Operating margin deteriorated from 15.8% in Q3 2025 to 13.0% in Q1 2026, lowest since Q4 2024's anomalous 6.1%.
• ROIC fell 490 basis points from 25.2% peak (Q3 2025) to 20.3% in Q1 2026, reversing uptrend and nearing 18.5% TTM.
• ROE declined to 16.2% in Q1 2026 from 19.8% in Q1 2025, a 360 basis point year-over-year drop.
⚠ Q4 2025 marked inflection: OpMargin, NPM, ROE, and ROIC all rolled over, breaking multi-quarter recovery from Q4 2024 collapse.
⚠ ROA compressed to 3.0% in Q1 2026, lowest since Q4 2024, suggesting asset efficiency deterioration or underutilization.
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Top Institutional Holders of SKWD
BlackRock, Inc.
$145.4M3,328,788 shREINHART PARTNERS, LLC.
$121.5M2,780,784 shInvesco Ltd.
$78.4M1,795,651 shVANGUARD CAPITAL MANAGEMENT LLC
$72.9M1,669,432 shWESTWOOD HOLDINGS GROUP INC
$58.1M1,329,349 shSTATE STREET CORP
$45.9M1,050,677 shPolar Capital Holdings Plc
$43.7M1,000,000 shGEODE CAPITAL MANAGEMENT, LLC
$43.6M998,295 shAMERICAN CENTURY COMPANIES INC
$42.6M975,027 shQube Research & Technologies Ltd
$38.1M871,872 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $145.4M | 3,328,788 |
| REINHART PARTNERS, LLC. | $121.5M | 2,780,784 |
| Invesco Ltd. | $78.4M | 1,795,651 |
| VANGUARD CAPITAL MANAGEMENT LLC | $72.9M | 1,669,432 |
| WESTWOOD HOLDINGS GROUP INC | $58.1M | 1,329,349 |
| STATE STREET CORP | $45.9M | 1,050,677 |
| Polar Capital Holdings Plc | $43.7M | 1,000,000 |
| GEODE CAPITAL MANAGEMENT, LLC | $43.6M | 998,295 |
| AMERICAN CENTURY COMPANIES INC | $42.6M | 975,027 |
| Qube Research & Technologies Ltd | $38.1M | 871,872 |
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Is SKWD a good stock to buy?
13F Pro's AI-powered analysis of Skyward Specialty Insurance Group, Inc. (SKWD) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for SKWD are available on the SKWD stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own SKWD?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling SKWD. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Skyward Specialty Insurance Group, Inc.'s investment landscape.