For the year ending 2025-12-31, SKWD had $41,589K increase in cash & cash equivalents over the period. $402,622K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net income | 170,028 | 118,828 |
| Net investment (gains) losses | 22,149 | 6,256 |
| Depreciation and amortization expense | 3,535 | 3,358 |
| Stock-based compensation expense | 11,960 | 9,395 |
| Undistributed earnings (loss) from long-term investments | -10,122 | 6,338 |
| Net change in fair value of derivatives | 34,857 | - |
| Deferred income tax, net | -6,397 | -8,708 |
| Premiums receivable, net | 222,576 | 142,406 |
| Reinsurance recoverables, net | 262,004 | 261,542 |
| Ceded unearned premium | 35,047 | 17,780 |
| Deferred policy acquisition costs | 22,917 | 21,228 |
| Federal income taxes | -1,797 | -4,500 |
| Losses and loss adjustment expenses | 536,511 | 467,882 |
| Unearned premiums | 136,850 | 84,653 |
| Deferred ceding commission | 6,019 | 3,377 |
| Reinsurance and premium payables | 102,818 | 26,914 |
| Funds held for others | -25,338 | -44,077 |
| Accounts payable and accrued liabilities | 37,032 | 19,177 |
| Other, net | 27,987 | 12,788 |
| Net cash provided by operating activities | 408,076 | 305,115 |
| Purchase of fixed maturity securities, available-for-sale | 910,039 | 617,606 |
| Purchase of illiquid investments | 0 | 75 |
| Purchase of equity securities | 13,213 | 14,077 |
| Purchase of equity method investments and other long-term investments | 6,814 | 32,173 |
| Purchase of intangible assets | - | 0 |
| Purchase of intangible assets and goodwill | 2,000 | - |
| Investment in direct and indirect loans | 19,674 | 27,480 |
| Purchase of property and equipment | 5,454 | 4,224 |
| Proceeds from the sales of fixed maturity securities, available-for-sale | 198,195 | 217,468 |
| Maturities, calls, transfers and paydowns of fixed maturity securities, available-for-sale | 183,951 | 122,694 |
| Maturities, calls and paydowns of fixed maturity securities held-to-maturity | 4,357 | 6,015 |
| Proceeds from the sales of equity securities | 126,738 | 37,534 |
| Sales of and distributions from equity method and other long-term investments | -11,902 | -14,073 |
| Change in short-term investments | -10,626 | 4,799 |
| Change in receivable/payable for securities | -11,928 | -34 |
| Cash provided by deposit accounting | 3,251 | 3,962 |
| Net cash used in investment activities | -366,898 | -243,694 |
| Employee share purchases | 0 | 0 |
| Repayment of stock notes receivable | 0 | 5,562 |
| Proceeds from long term borrowings | 43,411 | 107,000 |
| Payments on long term borrowings and trust preferred | 43,000 | 116,794 |
| Proceeds from initial public offering | 0 | 0 |
| Net cash provided by (used in) financing activities | 411 | -4,232 |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 41,589 | 57,189 |
| Cash and cash equivalents and restricted cash at beginning of period | 157,525 | - |
| Cash and cash equivalents and restricted cash at end of period | 199,114 | - |
Skyward Specialty Insurance Group, Inc. (SKWD)
Skyward Specialty Insurance Group, Inc. (SKWD)