Filing Flows › Skyward Specialty Insurance Group (SKWD) › Q4 2025
Skyward Specialty Insurance Group (SKWD) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
Skyward Specialty Insurance Group (SKWD) reported revenue of $386M for the fourth quarter 2025 (Q4 2025), +27% from a year earlier and +0.8% from the quarter before. Operating margin was 14.2%, net earnings $43.2M (11.2% of revenue).
Skyward Specialty Insurance Group, Q4 2025: revenue $386M (+27% year over year), operating margin 14.2%, net earnings $43.2M, operating cash flow $51.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $386M | +0.8% | +27% |
| Operating profit | $54.6M | -10% | +195% |
| Net earnings | $43.2M | -6% | +200% |
| Operating cash flow | $51.8M | -70% | +136% |
| Free cash flow | $50.1M | -70% | +140% |
What changed
Revenue was $385.6M in Q4 2025, up 27% year over year and up 1% from the previous quarter.
Operating profit was $54.6M, a 14.2% margin (up 8.1 points year over year). Of the extra revenue versus a year earlier, 44% reached operating profit, above the 6% margin then. Total costs grew 16% against revenue growth of 27%. Net earnings were $43.2M, up 200% year over year. The effective tax rate was 20.9%.
Operating cash flow was $51.8M (up 136% year over year), 120% of net earnings. Working capital and other items added $8.5M. Capital expenditures of $1.7M left free cash flow of $50.1M.
Questions
What was Skyward Specialty Insurance Group's revenue in the fourth quarter 2025?
Skyward Specialty Insurance Group (SKWD) reported revenue of $386M for the fourth quarter 2025 (Q4 2025), +27% from a year earlier and +0.8% from the quarter before.
Was Skyward Specialty Insurance Group profitable in the fourth quarter 2025?
Operating profit was $54.6M (14.2% of revenue) and net earnings $43.2M.
Source: Skyward Specialty Insurance Group 10-K on SEC EDGAR.