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Side-by-side financial comparison of ECARX Holdings Inc. (ECX) 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 $323.3M, roughly 1.2× ECARX Holdings Inc.). Skyward Specialty Insurance Group, Inc. runs the higher net margin — 11.2% vs -21.4%, a 32.6% gap on every dollar of revenue. On growth, Skyward Specialty Insurance Group, Inc. posted the faster year-over-year revenue change (26.7% vs 6.5%). Skyward Specialty Insurance Group, Inc. produced more free cash flow last quarter ($402.6M vs $-86.5M).
ECARX Holdings Inc. is a global mobility technology provider specializing in integrated smart vehicle solutions, including in-vehicle infotainment systems, advanced driver assistance technologies, and connected car cloud services. It primarily partners with automotive manufacturers across the world, with a strong operational presence in the Chinese and European 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.
ECX vs SKWD — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $323.3M | $385.6M |
| Net Profit | $-69.1M | $43.2M |
| Gross Margin | 15.5% | — |
| Operating Margin | -20.2% | 14.2% |
| Net Margin | -21.4% | 11.2% |
| Revenue YoY | 6.5% | 26.7% |
| Net Profit YoY | 12.8% | 200.1% |
| EPS (diluted) | $-0.20 | $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 | — | $385.6M | ||
| Q3 25 | — | $382.5M | ||
| Q2 25 | $323.3M | $319.9M | ||
| Q1 25 | — | $328.5M | ||
| Q4 24 | — | $304.4M | ||
| Q3 24 | — | $300.9M | ||
| Q2 24 | $303.5M | $279.9M | ||
| Q1 24 | — | $265.0M |
| Q4 25 | — | $43.2M | ||
| Q3 25 | — | $45.9M | ||
| Q2 25 | $-69.1M | $38.8M | ||
| Q1 25 | — | $42.1M | ||
| Q4 24 | — | $14.4M | ||
| Q3 24 | — | $36.7M | ||
| Q2 24 | $-79.2M | $31.0M | ||
| Q1 24 | — | $36.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 15.5% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 22.6% | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 14.2% | ||
| Q3 25 | — | 15.8% | ||
| Q2 25 | -20.2% | 15.6% | ||
| Q1 25 | — | 15.7% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | -22.2% | 14.4% | ||
| Q1 24 | — | 17.7% |
| Q4 25 | — | 11.2% | ||
| Q3 25 | — | 12.0% | ||
| Q2 25 | -21.4% | 12.1% | ||
| Q1 25 | — | 12.8% | ||
| Q4 24 | — | 4.7% | ||
| Q3 24 | — | 12.2% | ||
| Q2 24 | -26.1% | 11.1% | ||
| Q1 24 | — | 13.9% |
| Q4 25 | — | $1.03 | ||
| Q3 25 | — | $1.10 | ||
| Q2 25 | $-0.20 | $0.93 | ||
| Q1 25 | — | $1.01 | ||
| Q4 24 | — | $0.33 | ||
| Q3 24 | — | $0.89 | ||
| Q2 24 | $-0.23 | $0.75 | ||
| Q1 24 | — | $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 | $86.2M | $168.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-293.7M | $1.0B |
| Total Assets | $494.9M | $4.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $168.5M | ||
| Q3 25 | — | $160.1M | ||
| Q2 25 | $86.2M | $136.6M | ||
| Q1 25 | — | $112.9M | ||
| Q4 24 | — | $121.6M | ||
| Q3 24 | — | $105.6M | ||
| Q2 24 | $108.4M | $73.0M | ||
| Q1 24 | — | $85.1M |
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $961.4M | ||
| Q2 25 | $-293.7M | $899.9M | ||
| Q1 25 | — | $850.7M | ||
| Q4 24 | — | $794.0M | ||
| Q3 24 | — | $797.5M | ||
| Q2 24 | $-198.5M | $723.6M | ||
| Q1 24 | — | $692.3M |
| Q4 25 | — | $4.8B | ||
| Q3 25 | — | $4.6B | ||
| Q2 25 | $494.9M | $4.3B | ||
| Q1 25 | — | $4.0B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | $555.0M | $3.4B | ||
| Q1 24 | — | $3.2B |
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 | $-82.0M | $408.1M |
| Free Cash FlowOCF − Capex | $-86.5M | $402.6M |
| FCF MarginFCF / Revenue | -26.7% | 104.4% |
| Capex IntensityCapex / Revenue | 1.4% | 1.4% |
| Cash ConversionOCF / Net Profit | — | 9.44× |
| TTM Free Cash FlowTrailing 4 quarters | — | $755.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $408.1M | ||
| Q3 25 | — | $171.4M | ||
| Q2 25 | $-82.0M | $88.2M | ||
| Q1 25 | — | $96.8M | ||
| Q4 24 | — | $305.1M | ||
| Q3 24 | — | $168.0M | ||
| Q2 24 | $-57.1M | $21.0M | ||
| Q1 24 | — | $94.3M |
| Q4 25 | — | $402.6M | ||
| Q3 25 | — | $168.9M | ||
| Q2 25 | $-86.5M | $87.1M | ||
| Q1 25 | — | $96.6M | ||
| Q4 24 | — | $300.9M | ||
| Q3 24 | — | $167.6M | ||
| Q2 24 | $-64.9M | $18.4M | ||
| Q1 24 | — | $94.0M |
| Q4 25 | — | 104.4% | ||
| Q3 25 | — | 44.2% | ||
| Q2 25 | -26.7% | 27.2% | ||
| Q1 25 | — | 29.4% | ||
| Q4 24 | — | 98.8% | ||
| Q3 24 | — | 55.7% | ||
| Q2 24 | -21.4% | 6.6% | ||
| Q1 24 | — | 35.5% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | 1.4% | 0.3% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | 2.6% | 0.9% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | — | 9.44× | ||
| Q3 25 | — | 3.73× | ||
| Q2 25 | — | 2.27× | ||
| Q1 25 | — | 2.30× | ||
| Q4 24 | — | 21.18× | ||
| Q3 24 | — | 4.58× | ||
| Q2 24 | — | 0.68× | ||
| Q1 24 | — | 2.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
