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Side-by-side financial comparison of IDEX Corporation (IEX) and Skyward Specialty Insurance Group, Inc. (SKWD). Click either name above to swap in a different company.
IDEX Corporation is the larger business by last-quarter revenue ($398.4M vs $385.6M, roughly 1.0× Skyward Specialty Insurance Group, Inc.). IDEX Corporation runs the higher net margin — 30.1% vs 11.2%, a 18.9% gap on every dollar of revenue. On growth, Skyward Specialty Insurance Group, Inc. posted the faster year-over-year revenue change (26.7% vs 16.7%). Skyward Specialty Insurance Group, Inc. produced more free cash flow last quarter ($402.6M vs $86.0M). Over the past eight quarters, Skyward Specialty Insurance Group, Inc.'s revenue compounded faster (20.6% CAGR vs -29.4%).
IDEX can refer to several things, including:International Defence Exhibition, a biennial arms and defense technology sales exhibition IDEX Corporation, a publicly listed company that makes fluidics systems and specialty engineered products Ideanomics, a publicly traded company that trades under the IDEX ticker symbol.
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.
IEX vs SKWD — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $398.4M | $385.6M |
| Net Profit | $120.0M | $43.2M |
| Gross Margin | 99.9% | — |
| Operating Margin | 43.3% | 14.2% |
| Net Margin | 30.1% | 11.2% |
| Revenue YoY | 16.7% | 26.7% |
| Net Profit YoY | 25.7% | 200.1% |
| EPS (diluted) | $1.61 | $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.
| Q2 26 | $398.4M | — | ||
| Q1 26 | $407.7M | — | ||
| Q4 25 | $899.1M | $385.6M | ||
| Q3 25 | $878.7M | $382.5M | ||
| Q2 25 | $865.4M | $319.9M | ||
| Q1 25 | $814.3M | $328.5M | ||
| Q4 24 | $862.9M | $304.4M | ||
| Q3 24 | $798.2M | $300.9M |
| Q2 26 | $120.0M | — | ||
| Q1 26 | $128.3M | — | ||
| Q4 25 | $128.3M | $43.2M | ||
| Q3 25 | $127.8M | $45.9M | ||
| Q2 25 | $131.6M | $38.8M | ||
| Q1 25 | $95.5M | $42.1M | ||
| Q4 24 | $123.2M | $14.4M | ||
| Q3 24 | $119.1M | $36.7M |
| Q2 26 | 99.9% | — | ||
| Q1 26 | 94.9% | — | ||
| Q4 25 | 43.1% | — | ||
| Q3 25 | 44.5% | — | ||
| Q2 25 | 45.3% | — | ||
| Q1 25 | 45.3% | — | ||
| Q4 24 | 42.5% | — | ||
| Q3 24 | 44.3% | — |
| Q2 26 | 43.3% | — | ||
| Q1 26 | 45.0% | — | ||
| Q4 25 | 20.4% | 14.2% | ||
| Q3 25 | 21.1% | 15.8% | ||
| Q2 25 | 21.7% | 15.6% | ||
| Q1 25 | 17.4% | 15.7% | ||
| Q4 24 | 19.2% | 6.1% | ||
| Q3 24 | 21.0% | 15.6% |
| Q2 26 | 30.1% | — | ||
| Q1 26 | 31.5% | — | ||
| Q4 25 | 14.3% | 11.2% | ||
| Q3 25 | 14.5% | 12.0% | ||
| Q2 25 | 15.2% | 12.1% | ||
| Q1 25 | 11.7% | 12.8% | ||
| Q4 24 | 14.3% | 4.7% | ||
| Q3 24 | 14.9% | 12.2% |
| Q2 26 | $1.61 | — | ||
| Q1 26 | $1.71 | — | ||
| Q4 25 | $1.71 | $1.03 | ||
| Q3 25 | $1.70 | $1.10 | ||
| Q2 25 | $1.74 | $0.93 | ||
| Q1 25 | $1.26 | $1.01 | ||
| Q4 24 | $1.61 | $0.33 | ||
| Q3 24 | $1.57 | $0.89 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $586.2M | $168.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.0B | $1.0B |
| Total Assets | $6.9B | $4.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $586.2M | — | ||
| Q1 26 | $580.0M | — | ||
| Q4 25 | $580.0M | $168.5M | ||
| Q3 25 | $593.8M | $160.1M | ||
| Q2 25 | $568.2M | $136.6M | ||
| Q1 25 | $594.1M | $112.9M | ||
| Q4 24 | $620.8M | $121.6M | ||
| Q3 24 | $633.2M | $105.6M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.1B | — |
| Q2 26 | $4.0B | — | ||
| Q1 26 | $4.0B | — | ||
| Q4 25 | $4.0B | $1.0B | ||
| Q3 25 | $4.0B | $961.4M | ||
| Q2 25 | $4.0B | $899.9M | ||
| Q1 25 | $3.9B | $850.7M | ||
| Q4 24 | $3.8B | $794.0M | ||
| Q3 24 | $3.8B | $797.5M |
| Q2 26 | $6.9B | — | ||
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.9B | $4.8B | ||
| Q3 25 | $7.0B | $4.6B | ||
| Q2 25 | $6.9B | $4.3B | ||
| Q1 25 | $6.8B | $4.0B | ||
| Q4 24 | $6.7B | $3.7B | ||
| Q3 24 | $7.0B | $3.6B |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.50× | — | ||
| Q4 24 | 0.52× | — | ||
| Q3 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 | — | $408.1M |
| Free Cash FlowOCF − Capex | $86.0M | $402.6M |
| FCF MarginFCF / Revenue | 21.6% | 104.4% |
| Capex IntensityCapex / Revenue | 4.4% | 1.4% |
| Cash ConversionOCF / Net Profit | — | 9.44× |
| TTM Free Cash FlowTrailing 4 quarters | $654.3M | $755.2M |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $209.5M | $408.1M | ||
| Q3 25 | $203.5M | $171.4M | ||
| Q2 25 | $161.7M | $88.2M | ||
| Q1 25 | $105.7M | $96.8M | ||
| Q4 24 | $172.6M | $305.1M | ||
| Q3 24 | $205.3M | $168.0M |
| Q2 26 | $86.0M | — | ||
| Q1 26 | $189.8M | — | ||
| Q4 25 | $189.8M | $402.6M | ||
| Q3 25 | $188.7M | $168.9M | ||
| Q2 25 | $146.9M | $87.1M | ||
| Q1 25 | $91.4M | $96.6M | ||
| Q4 24 | $157.1M | $300.9M | ||
| Q3 24 | $191.6M | $167.6M |
| Q2 26 | 21.6% | — | ||
| Q1 26 | 46.6% | — | ||
| Q4 25 | 21.1% | 104.4% | ||
| Q3 25 | 21.5% | 44.2% | ||
| Q2 25 | 17.0% | 27.2% | ||
| Q1 25 | 11.2% | 29.4% | ||
| Q4 24 | 18.2% | 98.8% | ||
| Q3 24 | 24.0% | 55.7% |
| Q2 26 | 4.4% | — | ||
| Q1 26 | 15.6% | — | ||
| Q4 25 | 2.2% | 1.4% | ||
| Q3 25 | 1.7% | 0.6% | ||
| Q2 25 | 1.7% | 0.3% | ||
| Q1 25 | 1.8% | 0.1% | ||
| Q4 24 | 1.8% | 1.4% | ||
| Q3 24 | 1.7% | 0.1% |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | 9.44× | ||
| Q3 25 | 1.59× | 3.73× | ||
| Q2 25 | 1.23× | 2.27× | ||
| Q1 25 | 1.11× | 2.30× | ||
| Q4 24 | 1.40× | 21.18× | ||
| Q3 24 | 1.72× | 4.58× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
