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Side-by-side financial comparison of MASIMO CORP (MASI) 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 $371.5M, roughly 1.0× MASIMO CORP). Skyward Specialty Insurance Group, Inc. runs the higher net margin — 11.2% vs -27.0%, a 38.2% gap on every dollar of revenue. On growth, Skyward Specialty Insurance Group, Inc. posted the faster year-over-year revenue change (26.7% vs -26.4%). Skyward Specialty Insurance Group, Inc. produced more free cash flow last quarter ($402.6M vs $50.9M). Over the past eight quarters, Skyward Specialty Insurance Group, Inc.'s revenue compounded faster (20.6% CAGR vs -17.7%).
Masimo Corporation is an American health technology and consumer electronics company headquartered in Irvine, California. The company develops patient monitoring devices, non-invasive sensors, and related software platforms used in hospital and home settings. Masimo has also operated in the consumer audio and wearable device 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.
MASI vs SKWD — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $371.5M | $385.6M |
| Net Profit | $-100.4M | $43.2M |
| Gross Margin | 62.1% | — |
| Operating Margin | 22.5% | 14.2% |
| Net Margin | -27.0% | 11.2% |
| Revenue YoY | -26.4% | 26.7% |
| Net Profit YoY | -1124.5% | 200.1% |
| EPS (diluted) | $-1.84 | $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 | $371.5M | $382.5M | ||
| Q2 25 | $370.9M | $319.9M | ||
| Q1 25 | $372.0M | $328.5M | ||
| Q4 24 | $600.7M | $304.4M | ||
| Q3 24 | $504.6M | $300.9M | ||
| Q2 24 | $496.3M | $279.9M | ||
| Q1 24 | $492.8M | $265.0M |
| Q4 25 | — | $43.2M | ||
| Q3 25 | $-100.4M | $45.9M | ||
| Q2 25 | $51.3M | $38.8M | ||
| Q1 25 | $-170.7M | $42.1M | ||
| Q4 24 | $-349.6M | $14.4M | ||
| Q3 24 | $9.8M | $36.7M | ||
| Q2 24 | $16.0M | $31.0M | ||
| Q1 24 | $18.9M | $36.8M |
| Q4 25 | — | — | ||
| Q3 25 | 62.1% | — | ||
| Q2 25 | 62.9% | — | ||
| Q1 25 | 62.9% | — | ||
| Q4 24 | 40.7% | — | ||
| Q3 24 | 52.2% | — | ||
| Q2 24 | 51.3% | — | ||
| Q1 24 | 49.0% | — |
| Q4 25 | — | 14.2% | ||
| Q3 25 | 22.5% | 15.8% | ||
| Q2 25 | 17.4% | 15.6% | ||
| Q1 25 | 21.0% | 15.7% | ||
| Q4 24 | -59.8% | 6.1% | ||
| Q3 24 | 6.0% | 15.6% | ||
| Q2 24 | 5.7% | 14.4% | ||
| Q1 24 | 6.9% | 17.7% |
| Q4 25 | — | 11.2% | ||
| Q3 25 | -27.0% | 12.0% | ||
| Q2 25 | 13.8% | 12.1% | ||
| Q1 25 | -45.9% | 12.8% | ||
| Q4 24 | -58.2% | 4.7% | ||
| Q3 24 | 1.9% | 12.2% | ||
| Q2 24 | 3.2% | 11.1% | ||
| Q1 24 | 3.8% | 13.9% |
| Q4 25 | — | $1.03 | ||
| Q3 25 | $-1.84 | $1.10 | ||
| Q2 25 | $0.94 | $0.93 | ||
| Q1 25 | $-3.12 | $1.01 | ||
| Q4 24 | $-6.54 | $0.33 | ||
| Q3 24 | $0.18 | $0.89 | ||
| Q2 24 | $0.29 | $0.75 | ||
| Q1 24 | $0.35 | $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 | $312.3M | $168.5M |
| Total DebtLower is stronger | $559.1M | — |
| Stockholders' EquityBook value | $810.0M | $1.0B |
| Total Assets | $1.8B | $4.8B |
| Debt / EquityLower = less leverage | 0.69× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $168.5M | ||
| Q3 25 | $312.3M | $160.1M | ||
| Q2 25 | $149.6M | $136.6M | ||
| Q1 25 | $130.8M | $112.9M | ||
| Q4 24 | $177.6M | $121.6M | ||
| Q3 24 | $158.5M | $105.6M | ||
| Q2 24 | $129.6M | $73.0M | ||
| Q1 24 | $157.6M | $85.1M |
| Q4 25 | — | — | ||
| Q3 25 | $559.1M | — | ||
| Q2 25 | $613.7M | — | ||
| Q1 25 | $651.0M | — | ||
| Q4 24 | $765.2M | — | ||
| Q3 24 | $772.6M | — | ||
| Q2 24 | $781.6M | — | ||
| Q1 24 | $876.0M | — |
| Q4 25 | — | $1.0B | ||
| Q3 25 | $810.0M | $961.4M | ||
| Q2 25 | $1.0B | $899.9M | ||
| Q1 25 | $946.4M | $850.7M | ||
| Q4 24 | $1.1B | $794.0M | ||
| Q3 24 | $1.5B | $797.5M | ||
| Q2 24 | $1.4B | $723.6M | ||
| Q1 24 | $1.4B | $692.3M |
| Q4 25 | — | $4.8B | ||
| Q3 25 | $1.8B | $4.6B | ||
| Q2 25 | $2.4B | $4.3B | ||
| Q1 25 | $2.3B | $4.0B | ||
| Q4 24 | $2.6B | $3.7B | ||
| Q3 24 | $3.1B | $3.6B | ||
| Q2 24 | $2.9B | $3.4B | ||
| Q1 24 | $3.0B | $3.2B |
| Q4 25 | — | — | ||
| Q3 25 | 0.69× | — | ||
| Q2 25 | 0.59× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | 0.57× | — | ||
| Q1 24 | 0.64× | — |
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 | $56.8M | $408.1M |
| Free Cash FlowOCF − Capex | $50.9M | $402.6M |
| FCF MarginFCF / Revenue | 13.7% | 104.4% |
| Capex IntensityCapex / Revenue | 1.6% | 1.4% |
| Cash ConversionOCF / Net Profit | — | 9.44× |
| TTM Free Cash FlowTrailing 4 quarters | $191.0M | $755.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $408.1M | ||
| Q3 25 | $56.8M | $171.4M | ||
| Q2 25 | $69.4M | $88.2M | ||
| Q1 25 | $31.1M | $96.8M | ||
| Q4 24 | $50.5M | $305.1M | ||
| Q3 24 | $25.6M | $168.0M | ||
| Q2 24 | $74.5M | $21.0M | ||
| Q1 24 | $45.8M | $94.3M |
| Q4 25 | — | $402.6M | ||
| Q3 25 | $50.9M | $168.9M | ||
| Q2 25 | $65.6M | $87.1M | ||
| Q1 25 | $28.5M | $96.6M | ||
| Q4 24 | $46.0M | $300.9M | ||
| Q3 24 | $16.9M | $167.6M | ||
| Q2 24 | $66.9M | $18.4M | ||
| Q1 24 | $37.6M | $94.0M |
| Q4 25 | — | 104.4% | ||
| Q3 25 | 13.7% | 44.2% | ||
| Q2 25 | 17.7% | 27.2% | ||
| Q1 25 | 7.7% | 29.4% | ||
| Q4 24 | 7.7% | 98.8% | ||
| Q3 24 | 3.3% | 55.7% | ||
| Q2 24 | 13.5% | 6.6% | ||
| Q1 24 | 7.6% | 35.5% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | 1.6% | 0.6% | ||
| Q2 25 | 1.0% | 0.3% | ||
| Q1 25 | 0.7% | 0.1% | ||
| Q4 24 | 0.7% | 1.4% | ||
| Q3 24 | 1.7% | 0.1% | ||
| Q2 24 | 1.5% | 0.9% | ||
| Q1 24 | 1.7% | 0.1% |
| Q4 25 | — | 9.44× | ||
| Q3 25 | — | 3.73× | ||
| Q2 25 | 1.35× | 2.27× | ||
| Q1 25 | — | 2.30× | ||
| Q4 24 | — | 21.18× | ||
| Q3 24 | 2.61× | 4.58× | ||
| Q2 24 | 4.66× | 0.68× | ||
| Q1 24 | 2.42× | 2.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
