Bowhead Specialty Holdings Inc. (BOW) Financial Statements
$34.04NYSE: BOWMarket Cap $1.12B
Bowhead Specialty Holdings Inc. most recently reported annual revenue of $552.0M, net profit of $54.0M. Revenue grew at an average annual rate of 43.2% over the last 3 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.
Bowhead Specialty Holdings Inc.: Revenue rose from $188.0M in 2022 to $552.0M in 2025, a change of +193.6% over 3 years; net profit was positive in all 4 reported years; operating margin moved from 7.8% to 12.2%, a shift of +4.4 percentage points; the most recent year shows net profit of $54.0M.
Income Statement — 4 Years (USD millions)
Metric
2022
2023
2024
2025
Revenue
$188.0M
$283.0M
$426.0M
$552.0M
Operating Expenses
$173.0M
$251.0M
$375.0M
$484.0M
Operating Profit
$15.0M
$32.0M
$51.0M
$67.0M
Operating Margin
7.8%
11.3%
11.9%
12.2%
Other Income
$0
$0
$0
$0
Interest
$0
$0
$1.0M
$2.0M
Depreciation
$1.0M
$2.0M
$4.0M
$2.0M
Profit Before Tax
$15.0M
$32.0M
$51.0M
$67.0M
Tax
$23.2M
$22.0M
$24.3M
$20.1M
Net Profit
$11.0M
$25.0M
$38.0M
$54.0M
EPS
$0.36
$0.79
$1.29
$1.59
Dividend Payout
0.0%
0.0%
0.0%
0.0%
Quarterly Results — Last 12 Quarters (USD millions)
2 duplicate period labels in the source data were collapsed.
Metric
Sep '23
Dec '23
Mar '24
Jun '24
Sep '24
Dec '24
Mar '25
Jun '25
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
$76.0M
$83.0M
$91.0M
$99.0M
$117.0M
$119.0M
$123.0M
$133.0M
$144.0M
$152.0M
$155.0M
$164.0M
Operating Expenses
$65.0M
$77.0M
$82.0M
$91.0M
$101.0M
$101.0M
$108.0M
$117.0M
$125.0M
$134.0M
$134.0M
$143.0M
Operating Profit
$11.0M
$6.0M
$9.0M
$7.0M
$16.0M
$18.0M
$14.0M
$16.0M
$19.0M
$18.0M
$21.0M
$21.0M
Operating Margin
14.8%
7.0%
10.0%
7.5%
13.6%
15.3%
11.8%
11.9%
13.3%
11.7%
13.3%
12.6%
Interest
$0
$0
$0
$0
$0
$0
$0
$0
$0
$1.0M
$0
$3.0M
Profit Before Tax
$11.0M
$6.0M
$9.0M
$7.0M
$16.0M
$18.0M
$14.0M
$16.0M
$19.0M
$18.0M
$21.0M
$21.0M
Tax
$22.7M
$17.7M
$22.6M
$25.3M
$23.6M
$25.4M
$21.0M
$22.5M
$20.6M
$16.6M
$22.2M
$21.9M
Net Profit
$9.0M
$5.0M
$7.0M
$6.0M
$12.0M
$14.0M
$11.0M
$12.0M
$15.0M
$15.0M
$16.0M
$16.0M
EPS
$0.28
$0.15
$0.22
$0.20
$0.36
$0.41
$0.34
$0.36
$0.45
$0.44
$0.48
$0.48
Over the 4 years reported for Bowhead Specialty Holdings Inc., cash stood at $194.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 0.96 times.
Balance Sheet — 4 Years (USD millions)
Metric
2022
2023
2024
2025
Total Assets
$565.0M
$1.0B
$1.7B
$2.4B
Current Assets
$670.0M
$118.0M
$1.1B
$1.7B
Cash
$65.0M
$118.0M
$97.0M
$194.0M
Inventory
$0
$0
$0
$0
Receivables
$232.0M
$40.0M
$319.0M
$498.0M
Fixed Assets
$6.0M
$8.0M
$7.0M
$11.0M
Capital Work in Progress
$0
$0
$0
$0
Investments
$283.0M
$563.0M
$890.0M
$1.4B
Other Assets
$0
$-288.0M
$0
$0
Total Liabilities
$482.0M
$836.0M
$1.3B
$1.9B
Current Liabilities
$476.0M
$0
$2.0M
$1.8B
Borrowings
$0
$0
$4.0M
$146.0M
Other Liabilities
$482.0M
$836.0M
$1.3B
$1.8B
Equity
$0
$0
$0
$0
Reserves
$83.0M
$192.0M
$370.0M
$449.0M
For Bowhead Specialty Holdings Inc., operating cash flow was positive in 4 of 4 reported years; free cash flow in the latest year was $326.0M; free cash flow was positive in 4 of 4 years; financing activities used $5.0M in the latest year, which covers debt repayment, dividends and buybacks.
Cash Flow Statement — 4 Years (USD millions)
Metric
2022
2023
2024
2025
Operating Cash Flow
$182.0M
$236.0M
$294.0M
$332.0M
Investing Cash Flow
$-191.0M
$-279.0M
$-329.0M
$-470.0M
Financing Cash Flow
$1.0M
$-78.0M
$0
$-5.0M
Net Cash Flow
$-7.0M
$39.0M
$102.0M
$12.0M
Free Cash Flow
$178.0M
$232.0M
$291.0M
$326.0M
Valuation & Return Ratios
Metric
Value
PEG Ratio
0.73
EV / EBITDA
10.54
FCF Yield
29.48%
Quick Ratio
5573.37
Interest Coverage
16.38
Return 1Y
-11.97%
Return 3Y
—
Return 5Y
—
Bowhead Specialty Holdings Inc. (BOW) financials — frequently asked questions
What is Bowhead Specialty Holdings Inc.'s annual revenue?
Bowhead Specialty Holdings Inc. (BOW) reported annual revenue of $552.0M in its most recent fiscal year.
What is Bowhead Specialty Holdings Inc.'s net profit?
Bowhead Specialty Holdings Inc. (BOW) reported net profit of $54.0M in its most recent fiscal year.
What is BOW EV/EBITDA?
Bowhead Specialty Holdings Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 10.54.