Bowhead Specialty Holdings Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data Bowhead Specialty Holdings Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2022
FY2024
FY2024
FY2025
Revenue
188
283
426
552
Operating expenses
46
63.5
89.1
102
Interest expense
0
0
0.73
2.01
Pre-tax income
14.7
32.1
50.5
67.3
Income tax
3.41
7.07
12.3
13.5
Net income
11.3
25
38.2
53.8
EPS, basic
0.47
1.04
1.31
1.64
EPS, diluted
0.47
1.04
1.29
1.59
Shares, basic (weighted)
24
24
29.3
32.7
Shares, diluted (weighted)
24
24
29.7
33.7
Balance sheet
FY2022
FY2024
FY2024
FY2025
Cash and equivalents
64.7
118
97.5
194
Property, plant and equipment
7.6
6.85
10.6
Lease right-of-use assets
0.5
4
2.8
Total assets
1,028
1,654
2,371
Total liabilities
836
1,284
1,922
Total debt
0
146
Paid-in capital
179
318
326
Retained earnings
24.7
62.9
117
Other comprehensive income
-11.4
-11.2
5.35
Shareholders' equity
192
370
448
Total equity
192
370
448
Total liabilities and equity
1,028
1,654
2,371
Shares outstanding
24
32.7
32.8
Cash flow statement
FY2022
FY2024
FY2024
FY2025
Net income
11.3
25
38.2
53.8
Depreciation and amortization
0.73
2.27
3.87
1.78
Stock-based compensation
0.37
0.68
4.1
7.24
Deferred income tax
-2.97
-4.36
-6.17
-6.53
Cash from operations
182
236
294
332
Capital expenditures
-3.97
-3.82
-3.11
-5.57
Purchases of investments
-153
-346
-603
-828
Cash from investing
-187
-275
-326
-464
Debt issued
0
0
150
Cash from financing
-1
77.7
134
145
Net change in cash
-6.81
39.1
102
11.7
Free cash flow
178
232
291
326
Income taxes paid
5.29
14
16.4
23.4
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $33.76 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Pre-tax margin
12.7%
Pre-tax income / revenue.
Net margin
10.1%
Net income / revenue.
FCF margin
53.5%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
54.3%
Cash from operations / revenue.
Effective tax rate
20.4%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
13.2%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
2.3%
Net income / average total assets.
Stock-based pay / revenue
1.8%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.9%
Capital expenditures / revenue.
D&A / revenue
0.4%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
29.6%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
43.3%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y
40.6%
Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y
68.4%
Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y
23.3%
EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y
50.1%
Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y
12.7%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y
22.2%
Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y
12.0%
Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y
22.4%
Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
21.1%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
43.4%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
13.7%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
12.0%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Debt / equity
0.31x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
5.5%
Total debt / total assets.
Liabilities / assets
82.3%
Total liabilities / total assets.
Net debt
$4.8M
Total debt - cash - short-term investments. Negative means more cash than debt.
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
1.6%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$1.85
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$18.33
Revenue / diluted weighted shares.
FCF per share
$9.80
Free cash flow / diluted weighted shares.
Operating cash flow per share
$9.96
Cash from operations / diluted weighted shares.
Book value per share
$14.34
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
17.9x
Market cap / net income. Only when net income is positive.
P/S
1.81x
Market cap / revenue.
P/B
2.35x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
2.35x
Market cap / tangible book value, when positive.
P/FCF
3.38x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
3.33x
Market cap / cash from operations, when positive.
EV/Sales
1.82x
Enterprise value / revenue.
EV/FCF
3.40x
Enterprise value / free cash flow, when both are positive.
FCF yield
29.6%
Free cash flow / market cap.
Earnings yield
5.6%
Net income / market cap (the inverse of P/E).
PEG
0.36x
P/E / EPS growth per year over 3 years (in percent). Only when both are positive.
What was Bowhead Specialty Holdings Inc.'s revenue in fiscal 2025?
Bowhead Specialty Holdings Inc. reported revenue of $551.6M for fiscal 2025, 29.6% higher than the year before.
Was Bowhead Specialty Holdings Inc. profitable in fiscal 2025?
Yes. Net income was $53.8M, a net margin of 9.8%.
How much free cash flow did Bowhead Specialty Holdings Inc. generate in fiscal 2025?
Cash from operations of $331.6M minus capital expenditures of $5.6M left free cash flow of $326.0M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.