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Side-by-side financial comparison of Fidelity National Financial, Inc. (FNF) and Skyward Specialty Insurance Group, Inc. (SKWD). Click either name above to swap in a different company.
Fidelity National Financial, Inc. is the larger business by last-quarter revenue ($544.0M vs $385.6M, roughly 1.4× Skyward Specialty Insurance Group, Inc.). Skyward Specialty Insurance Group, Inc. runs the higher net margin — 11.2% vs -21.5%, a 32.7% gap on every dollar of revenue. On growth, Skyward Specialty Insurance Group, Inc. posted the faster year-over-year revenue change (26.7% vs 10.3%). Over the past eight quarters, Skyward Specialty Insurance Group, Inc.'s revenue compounded faster (20.6% CAGR vs 13.7%).
Fidelity National Financial, Inc., is an American provider of title insurance and settlement services to the real estate and mortgage industries. A Fortune 500 company, Fidelity National Financial generated approximately $8.469 billion in annual revenue in 2019 from its title and real estate-related operations. The company was the first instance of an attorney licensed by a Native American Tribe being certified as "authorized house counsel" in the state of Florida.
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.
FNF vs SKWD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $544.0M | $385.6M |
| Net Profit | $-117.0M | $43.2M |
| Gross Margin | — | — |
| Operating Margin | 82.9% | 14.2% |
| Net Margin | -21.5% | 11.2% |
| Revenue YoY | 10.3% | 26.7% |
| Net Profit YoY | -126.0% | 200.1% |
| EPS (diluted) | $-0.44 | $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 | $544.0M | $385.6M | ||
| Q3 25 | $553.0M | $382.5M | ||
| Q2 25 | $547.0M | $319.9M | ||
| Q1 25 | $455.0M | $328.5M | ||
| Q4 24 | $493.0M | $304.4M | ||
| Q3 24 | $506.0M | $300.9M | ||
| Q2 24 | $504.0M | $279.9M | ||
| Q1 24 | $421.0M | $265.0M |
| Q4 25 | $-117.0M | $43.2M | ||
| Q3 25 | $358.0M | $45.9M | ||
| Q2 25 | $278.0M | $38.8M | ||
| Q1 25 | $83.0M | $42.1M | ||
| Q4 24 | $450.0M | $14.4M | ||
| Q3 24 | $266.0M | $36.7M | ||
| Q2 24 | $306.0M | $31.0M | ||
| Q1 24 | $248.0M | $36.8M |
| Q4 25 | 82.9% | 14.2% | ||
| Q3 25 | 81.9% | 15.8% | ||
| Q2 25 | 69.8% | 15.6% | ||
| Q1 25 | 24.4% | 15.7% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | 61.9% | 15.6% | ||
| Q2 24 | 90.9% | 14.4% | ||
| Q1 24 | 78.6% | 17.7% |
| Q4 25 | -21.5% | 11.2% | ||
| Q3 25 | 64.7% | 12.0% | ||
| Q2 25 | 50.8% | 12.1% | ||
| Q1 25 | 18.2% | 12.8% | ||
| Q4 24 | 91.3% | 4.7% | ||
| Q3 24 | 52.6% | 12.2% | ||
| Q2 24 | 60.7% | 11.1% | ||
| Q1 24 | 58.9% | 13.9% |
| Q4 25 | $-0.44 | $1.03 | ||
| Q3 25 | $1.33 | $1.10 | ||
| Q2 25 | $1.02 | $0.93 | ||
| Q1 25 | $0.30 | $1.01 | ||
| Q4 24 | $1.65 | $0.33 | ||
| Q3 24 | $0.97 | $0.89 | ||
| Q2 24 | $1.12 | $0.75 | ||
| Q1 24 | $0.91 | $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 | $2.6B | $168.5M |
| Total DebtLower is stronger | $4.4B | — |
| Stockholders' EquityBook value | $7.4B | $1.0B |
| Total Assets | $109.0B | $4.8B |
| Debt / EquityLower = less leverage | 0.59× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.6B | $168.5M | ||
| Q3 25 | $3.5B | $160.1M | ||
| Q2 25 | $3.3B | $136.6M | ||
| Q1 25 | $4.5B | $112.9M | ||
| Q4 24 | $3.5B | $121.6M | ||
| Q3 24 | $5.0B | $105.6M | ||
| Q2 24 | $4.9B | $73.0M | ||
| Q1 24 | $3.5B | $85.1M |
| Q4 25 | $4.4B | — | ||
| Q3 25 | $4.4B | — | ||
| Q2 25 | $4.4B | — | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $4.2B | — | ||
| Q1 24 | $3.9B | — |
| Q4 25 | $7.4B | $1.0B | ||
| Q3 25 | $8.4B | $961.4M | ||
| Q2 25 | $7.9B | $899.9M | ||
| Q1 25 | $7.9B | $850.7M | ||
| Q4 24 | $7.8B | $794.0M | ||
| Q3 24 | $8.1B | $797.5M | ||
| Q2 24 | $7.3B | $723.6M | ||
| Q1 24 | $7.1B | $692.3M |
| Q4 25 | $109.0B | $4.8B | ||
| Q3 25 | $106.6B | $4.6B | ||
| Q2 25 | $102.3B | $4.3B | ||
| Q1 25 | $98.2B | $4.0B | ||
| Q4 24 | $95.4B | $3.7B | ||
| Q3 24 | $94.7B | $3.6B | ||
| Q2 24 | $88.8B | $3.4B | ||
| Q1 24 | $84.5B | $3.2B |
| Q4 25 | 0.59× | — | ||
| Q3 25 | 0.53× | — | ||
| Q2 25 | 0.56× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.56× | — | ||
| Q3 24 | 0.52× | — | ||
| Q2 24 | 0.58× | — | ||
| Q1 24 | 0.55× | — |
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 | $1.5B | $408.1M |
| Free Cash FlowOCF − Capex | — | $402.6M |
| FCF MarginFCF / Revenue | — | 104.4% |
| Capex IntensityCapex / Revenue | — | 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 | $1.5B | $408.1M | ||
| Q3 25 | $1.3B | $171.4M | ||
| Q2 25 | $1.9B | $88.2M | ||
| Q1 25 | $1.1B | $96.8M | ||
| Q4 24 | $1.5B | $305.1M | ||
| Q3 24 | $2.4B | $168.0M | ||
| Q2 24 | $1.4B | $21.0M | ||
| Q1 24 | $1.6B | $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 | — | 9.44× | ||
| Q3 25 | 3.66× | 3.73× | ||
| Q2 25 | 6.82× | 2.27× | ||
| Q1 25 | 13.43× | 2.30× | ||
| Q4 24 | 3.32× | 21.18× | ||
| Q3 24 | 8.89× | 4.58× | ||
| Q2 24 | 4.45× | 0.68× | ||
| Q1 24 | 6.42× | 2.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FNF
| Escrow Fees | $241.0M | 44% |
| Other Title Related Fees And Income | $182.0M | 33% |
| Service Link Excluding Title Premiums Escrow Fees And Subservicing Fees | $87.0M | 16% |
| Insurance Contracts Home Warranty | $31.0M | 6% |
SKWD
Segment breakdown not available.
