vs
Side-by-side financial comparison of ASSURED GUARANTY LTD (AGO) and Skyward Specialty Insurance Group, Inc. (SKWD). Click either name above to swap in a different company.
Skyward Specialty Insurance Group, Inc. is the larger business by last-quarter revenue ($385.6M vs $277.0M, roughly 1.4× ASSURED GUARANTY LTD). ASSURED GUARANTY LTD runs the higher net margin — 43.0% vs 11.2%, a 31.7% gap on every dollar of revenue. On growth, ASSURED GUARANTY LTD posted the faster year-over-year revenue change (77.6% vs 26.7%). Over the past eight quarters, Skyward Specialty Insurance Group, Inc.'s revenue compounded faster (20.6% CAGR vs 6.3%).
Assured Investment Management (AIM) was an institutional asset management firm with a heritage in credit strategies, managing approximately $15.2 billion as of its defunct status in July 2023. Secondaries Investors referred to AIM as "one of the world's most prominent hedge funds".
Skyward Specialty Insurance Group, Inc. is a specialty property and casualty insurance provider offering tailored coverage solutions including commercial auto, general liability, professional indemnity, and specialty property policies. It primarily serves small-to-medium enterprises and niche industry segments across the United States, focusing on underwriting complex, hard-to-place risks for underserved client groups.
AGO vs SKWD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $277.0M | $385.6M |
| Net Profit | $119.0M | $43.2M |
| Gross Margin | — | — |
| Operating Margin | 59.6% | 14.2% |
| Net Margin | 43.0% | 11.2% |
| Revenue YoY | 77.6% | 26.7% |
| Net Profit YoY | 561.1% | 200.1% |
| EPS (diluted) | $2.56 | $1.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $277.0M | $385.6M | ||
| Q3 25 | $207.0M | $382.5M | ||
| Q2 25 | $281.0M | $319.9M | ||
| Q1 25 | $345.0M | $328.5M | ||
| Q4 24 | $156.0M | $304.4M | ||
| Q3 24 | $269.0M | $300.9M | ||
| Q2 24 | $202.0M | $279.9M | ||
| Q1 24 | $245.0M | $265.0M |
| Q4 25 | $119.0M | $43.2M | ||
| Q3 25 | $105.0M | $45.9M | ||
| Q2 25 | $103.0M | $38.8M | ||
| Q1 25 | $176.0M | $42.1M | ||
| Q4 24 | $18.0M | $14.4M | ||
| Q3 24 | $171.0M | $36.7M | ||
| Q2 24 | $78.0M | $31.0M | ||
| Q1 24 | $109.0M | $36.8M |
| Q4 25 | 59.6% | 14.2% | ||
| Q3 25 | 65.2% | 15.8% | ||
| Q2 25 | 47.3% | 15.6% | ||
| Q1 25 | 66.4% | 15.7% | ||
| Q4 24 | 19.2% | 6.1% | ||
| Q3 24 | 81.8% | 15.6% | ||
| Q2 24 | 46.5% | 14.4% | ||
| Q1 24 | 58.8% | 17.7% |
| Q4 25 | 43.0% | 11.2% | ||
| Q3 25 | 50.7% | 12.0% | ||
| Q2 25 | 36.7% | 12.1% | ||
| Q1 25 | 51.0% | 12.8% | ||
| Q4 24 | 11.5% | 4.7% | ||
| Q3 24 | 63.6% | 12.2% | ||
| Q2 24 | 38.6% | 11.1% | ||
| Q1 24 | 44.5% | 13.9% |
| Q4 25 | $2.56 | $1.03 | ||
| Q3 25 | $2.18 | $1.10 | ||
| Q2 25 | $2.08 | $0.93 | ||
| Q1 25 | $3.44 | $1.01 | ||
| Q4 24 | $0.40 | $0.33 | ||
| Q3 24 | $3.17 | $0.89 | ||
| Q2 24 | $1.41 | $0.75 | ||
| Q1 24 | $1.89 | $0.90 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $903.0M | $168.5M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $5.7B | $1.0B |
| Total Assets | $12.2B | $4.8B |
| Debt / EquityLower = less leverage | 0.30× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $903.0M | $168.5M | ||
| Q3 25 | $1.3B | $160.1M | ||
| Q2 25 | $939.0M | $136.6M | ||
| Q1 25 | $1.2B | $112.9M | ||
| Q4 24 | $1.2B | $121.6M | ||
| Q3 24 | $1.5B | $105.6M | ||
| Q2 24 | $1.7B | $73.0M | ||
| Q1 24 | $1.6B | $85.1M |
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $1.7B | — |
| Q4 25 | $5.7B | $1.0B | ||
| Q3 25 | $5.7B | $961.4M | ||
| Q2 25 | $5.6B | $899.9M | ||
| Q1 25 | $5.6B | $850.7M | ||
| Q4 24 | $5.5B | $794.0M | ||
| Q3 24 | $5.7B | $797.5M | ||
| Q2 24 | $5.5B | $723.6M | ||
| Q1 24 | $5.6B | $692.3M |
| Q4 25 | $12.2B | $4.8B | ||
| Q3 25 | $12.1B | $4.6B | ||
| Q2 25 | $12.1B | $4.3B | ||
| Q1 25 | $11.9B | $4.0B | ||
| Q4 24 | $11.9B | $3.7B | ||
| Q3 24 | $12.3B | $3.6B | ||
| Q2 24 | $12.1B | $3.4B | ||
| Q1 24 | $12.2B | $3.2B |
| Q4 25 | 0.30× | — | ||
| Q3 25 | 0.30× | — | ||
| Q2 25 | 0.30× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 0.30× | — | ||
| Q2 24 | 0.31× | — | ||
| Q1 24 | 0.30× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $259.0M | $408.1M |
| Free Cash FlowOCF − Capex | — | $402.6M |
| FCF MarginFCF / Revenue | — | 104.4% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | 2.18× | 9.44× |
| TTM Free Cash FlowTrailing 4 quarters | — | $755.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $259.0M | $408.1M | ||
| Q3 25 | $55.0M | $171.4M | ||
| Q2 25 | $78.0M | $88.2M | ||
| Q1 25 | $87.0M | $96.8M | ||
| Q4 24 | $47.0M | $305.1M | ||
| Q3 24 | $17.0M | $168.0M | ||
| Q2 24 | $58.0M | $21.0M | ||
| Q1 24 | $-74.0M | $94.3M |
| Q4 25 | — | $402.6M | ||
| Q3 25 | — | $168.9M | ||
| Q2 25 | — | $87.1M | ||
| Q1 25 | — | $96.6M | ||
| Q4 24 | — | $300.9M | ||
| Q3 24 | — | $167.6M | ||
| Q2 24 | — | $18.4M | ||
| Q1 24 | — | $94.0M |
| Q4 25 | — | 104.4% | ||
| Q3 25 | — | 44.2% | ||
| Q2 25 | — | 27.2% | ||
| Q1 25 | — | 29.4% | ||
| Q4 24 | — | 98.8% | ||
| Q3 24 | — | 55.7% | ||
| Q2 24 | — | 6.6% | ||
| Q1 24 | — | 35.5% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.9% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | 2.18× | 9.44× | ||
| Q3 25 | 0.52× | 3.73× | ||
| Q2 25 | 0.76× | 2.27× | ||
| Q1 25 | 0.49× | 2.30× | ||
| Q4 24 | 2.61× | 21.18× | ||
| Q3 24 | 0.10× | 4.58× | ||
| Q2 24 | 0.74× | 0.68× | ||
| Q1 24 | -0.68× | 2.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AGO
| Insurance Segment | $226.0M | 82% |
| Other | $37.0M | 13% |
| Gain Loss On Investments Member1 | $8.0M | 3% |
| Non Credit Impairment Related Unrealized Fair Value Gains Losses On Credit Derivatives | $6.0M | 2% |
SKWD
Segment breakdown not available.
