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Side-by-side financial comparison of BELDEN INC. (BDC) and Skyward Specialty Insurance Group, Inc. (SKWD). Click either name above to swap in a different company.
BELDEN INC. is the larger business by last-quarter revenue ($696.4M vs $385.6M, roughly 1.8× Skyward Specialty Insurance Group, Inc.). Skyward Specialty Insurance Group, Inc. runs the higher net margin — 11.2% vs 7.3%, a 3.9% gap on every dollar of revenue. On growth, Skyward Specialty Insurance Group, Inc. posted the faster year-over-year revenue change (26.7% vs 11.4%). Skyward Specialty Insurance Group, Inc. produced more free cash flow last quarter ($402.6M vs $-63.1M). Over the past eight quarters, Skyward Specialty Insurance Group, Inc.'s revenue compounded faster (20.6% CAGR vs 7.3%).
Belden Inc. is an American, multinational, publicly traded company specializing in the design, manufacture, and distribution of end-to-end networking, security and connectivity products. The company serves the Industrial Automation Solutions, Smart Buildings and Broadband & 5G markets.
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.
BDC vs SKWD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $696.4M | $385.6M |
| Net Profit | $51.0M | $43.2M |
| Gross Margin | 37.1% | — |
| Operating Margin | 11.2% | 14.2% |
| Net Margin | 7.3% | 11.2% |
| Revenue YoY | 11.4% | 26.7% |
| Net Profit YoY | -1.8% | 200.1% |
| EPS (diluted) | $1.30 | $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.
| Q1 26 | $696.4M | — | ||
| Q4 25 | $720.1M | $385.6M | ||
| Q3 25 | $698.2M | $382.5M | ||
| Q2 25 | $672.0M | $319.9M | ||
| Q1 25 | $624.9M | $328.5M | ||
| Q4 24 | $666.0M | $304.4M | ||
| Q3 24 | $654.9M | $300.9M | ||
| Q2 24 | $604.3M | $279.9M |
| Q1 26 | $51.0M | — | ||
| Q4 25 | $67.9M | $43.2M | ||
| Q3 25 | $56.7M | $45.9M | ||
| Q2 25 | $61.0M | $38.8M | ||
| Q1 25 | $51.9M | $42.1M | ||
| Q4 24 | $58.4M | $14.4M | ||
| Q3 24 | $53.7M | $36.7M | ||
| Q2 24 | $49.0M | $31.0M |
| Q1 26 | 37.1% | — | ||
| Q4 25 | 36.6% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 38.5% | — | ||
| Q1 25 | 39.3% | — | ||
| Q4 24 | 37.5% | — | ||
| Q3 24 | 37.3% | — | ||
| Q2 24 | 37.5% | — |
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.2% | 14.2% | ||
| Q3 25 | 10.9% | 15.8% | ||
| Q2 25 | 11.8% | 15.6% | ||
| Q1 25 | 11.6% | 15.7% | ||
| Q4 24 | 10.4% | 6.1% | ||
| Q3 24 | 11.5% | 15.6% | ||
| Q2 24 | 11.4% | 14.4% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 9.4% | 11.2% | ||
| Q3 25 | 8.1% | 12.0% | ||
| Q2 25 | 9.1% | 12.1% | ||
| Q1 25 | 8.3% | 12.8% | ||
| Q4 24 | 8.8% | 4.7% | ||
| Q3 24 | 8.2% | 12.2% | ||
| Q2 24 | 8.1% | 11.1% |
| Q1 26 | $1.30 | — | ||
| Q4 25 | $1.70 | $1.03 | ||
| Q3 25 | $1.41 | $1.10 | ||
| Q2 25 | $1.53 | $0.93 | ||
| Q1 25 | $1.27 | $1.01 | ||
| Q4 24 | $1.41 | $0.33 | ||
| Q3 24 | $1.30 | $0.89 | ||
| Q2 24 | $1.19 | $0.75 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $272.2M | $168.5M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $1.3B | $1.0B |
| Total Assets | — | $4.8B |
| Debt / EquityLower = less leverage | 0.98× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $272.2M | — | ||
| Q4 25 | $389.9M | $168.5M | ||
| Q3 25 | $314.3M | $160.1M | ||
| Q2 25 | $301.5M | $136.6M | ||
| Q1 25 | $259.0M | $112.9M | ||
| Q4 24 | $370.3M | $121.6M | ||
| Q3 24 | $323.0M | $105.6M | ||
| Q2 24 | $564.8M | $73.0M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $1.0B | ||
| Q3 25 | $1.2B | $961.4M | ||
| Q2 25 | $1.2B | $899.9M | ||
| Q1 25 | $1.2B | $850.7M | ||
| Q4 24 | $1.3B | $794.0M | ||
| Q3 24 | $1.2B | $797.5M | ||
| Q2 24 | $1.2B | $723.6M |
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $4.8B | ||
| Q3 25 | $3.4B | $4.6B | ||
| Q2 25 | $3.4B | $4.3B | ||
| Q1 25 | $3.3B | $4.0B | ||
| Q4 24 | $3.3B | $3.7B | ||
| Q3 24 | $3.3B | $3.6B | ||
| Q2 24 | $3.5B | $3.4B |
| Q1 26 | 0.98× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $408.1M |
| Free Cash FlowOCF − Capex | $-63.1M | $402.6M |
| FCF MarginFCF / Revenue | -9.1% | 104.4% |
| Capex IntensityCapex / Revenue | 6.4% | 1.4% |
| Cash ConversionOCF / Net Profit | — | 9.44× |
| TTM Free Cash FlowTrailing 4 quarters | $180.4M | $755.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | $408.1M | ||
| Q3 25 | $105.0M | $171.4M | ||
| Q2 25 | $82.0M | $88.2M | ||
| Q1 25 | $7.4M | $96.8M | ||
| Q4 24 | $174.7M | $305.1M | ||
| Q3 24 | $91.7M | $168.0M | ||
| Q2 24 | $83.0M | $21.0M |
| Q1 26 | $-63.1M | — | ||
| Q4 25 | $121.3M | $402.6M | ||
| Q3 25 | $65.3M | $168.9M | ||
| Q2 25 | $56.9M | $87.1M | ||
| Q1 25 | $-24.8M | $96.6M | ||
| Q4 24 | $116.4M | $300.9M | ||
| Q3 24 | $67.2M | $167.6M | ||
| Q2 24 | $61.0M | $18.4M |
| Q1 26 | -9.1% | — | ||
| Q4 25 | 16.8% | 104.4% | ||
| Q3 25 | 9.4% | 44.2% | ||
| Q2 25 | 8.5% | 27.2% | ||
| Q1 25 | -4.0% | 29.4% | ||
| Q4 24 | 17.5% | 98.8% | ||
| Q3 24 | 10.3% | 55.7% | ||
| Q2 24 | 10.1% | 6.6% |
| Q1 26 | 6.4% | — | ||
| Q4 25 | 5.4% | 1.4% | ||
| Q3 25 | 5.7% | 0.6% | ||
| Q2 25 | 3.7% | 0.3% | ||
| Q1 25 | 5.2% | 0.1% | ||
| Q4 24 | 8.8% | 1.4% | ||
| Q3 24 | 3.7% | 0.1% | ||
| Q2 24 | 3.6% | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | 9.44× | ||
| Q3 25 | 1.85× | 3.73× | ||
| Q2 25 | 1.34× | 2.27× | ||
| Q1 25 | 0.14× | 2.30× | ||
| Q4 24 | 2.99× | 21.18× | ||
| Q3 24 | 1.71× | 4.58× | ||
| Q2 24 | 1.69× | 0.68× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
