Skyward Specialty Insurance Group, Inc. (SKWD) Stock

Skyward Specialty Insurance Group, Inc. (SKWD) is a Financials stock trading at $56.88 (as of 2026-08-21), with a market capitalization of $2.53B and a trailing P/E of 13.4. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Understand Skyward Specialty Insurance Group, Inc.: how it makes money

Skyward Specialty Insurance Group provides specialty insurance, earning money mainly from underwriting premiums (gross written premiums, net written premiums, and net earned premiums) and from underwriting-related fee income.

The core profit engine is underwriting performance, captured by the Combined Ratio (losses plus expenses), where outcomes can also be influenced by fee generating premiums and underwriting fees income.

Business quality (Solid): Underwriting metrics look supportive, with a GAAP Combined Ratio of 89.5 and zero catastrophe losses in the latest period, but the business still shows material costs (Expense Ratio 26.2) and only mid range premium retention (Net Written Premium Retention 62.6).

Valuation: At 14× earnings, SKWD trades 12% above the Insurance average (13×). Note: one-time items can distort reported P/E.

Bull case

  • Underwriting results are favorable on a GAAP basis: Combined Ratio (Generally Accepted Accounting Principles) is 89.5 (below 100), alongside an Underwriting Income of 0.05 (USD_B).
  • Catastrophe impact was not a driver in the latest period: Catastrophe Losses are 0.0 (USD_B), and the Combined Ratio Excluding Catastrophes is 87.7.

Bear case

  • Costs are a meaningful part of the equation: Expense Ratio is 26.2, so underwriting profitability depends on maintaining both loss discipline and cost control.
  • Premium retention is only moderate: Net Written Premium Retention is 62.6 (percent), and Net Revenue Retention is 64.1 (percent), which can limit how much existing business supports growth.
Valuation — source: SEC EDGAR (first-party)
Price$56.88
Market Cap$2.53B
P/E Ratio13.4
EV / EBITDA9.2
Price / Book1.99
Price / Sales1.46
FCF Yield11.3%
DCF Value (model)$92.92
DCF Upside vs Price63.4%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.42B
Net Margin12.0%
Revenue Growth (YoY)53.0%
EPS Growth (YoY)14.6%
FCF Growth (YoY)-23.5%
Valuation vs Sector & Industry
Stock P/E13.4
Sector P/E (Financials)15.1
Industry P/E (Insurance)13.0
vs Sector-11.0%
vs Industry3.1%
Company
SectorFinancials
IndustryInsurance

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SKWD earnings history · SKWD institutional & insider holders · SKWD KPIs & operating metrics · SKWD financials · SKWD investor presentations & press releases · SKWD SEC filings · SKWD peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.