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Side-by-side financial comparison of ONESPAWORLD HOLDINGS Ltd (OSW) 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 $242.1M, roughly 1.6× ONESPAWORLD HOLDINGS Ltd). Skyward Specialty Insurance Group, Inc. runs the higher net margin — 11.2% vs 5.0%, a 6.2% gap on every dollar of revenue. On growth, Skyward Specialty Insurance Group, Inc. posted the faster year-over-year revenue change (26.7% vs 11.5%). Skyward Specialty Insurance Group, Inc. produced more free cash flow last quarter ($402.6M vs $14.9M). Over the past eight quarters, Skyward Specialty Insurance Group, Inc.'s revenue compounded faster (20.6% CAGR vs 7.1%).
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.
OSW vs SKWD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $242.1M | $385.6M |
| Net Profit | $12.1M | $43.2M |
| Gross Margin | — | — |
| Operating Margin | 6.8% | 14.2% |
| Net Margin | 5.0% | 11.2% |
| Revenue YoY | 11.5% | 26.7% |
| Net Profit YoY | -16.2% | 200.1% |
| EPS (diluted) | $0.12 | $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 | $242.1M | $385.6M | ||
| Q3 25 | $258.5M | $382.5M | ||
| Q2 25 | $240.7M | $319.9M | ||
| Q1 25 | $219.6M | $328.5M | ||
| Q4 24 | $217.2M | $304.4M | ||
| Q3 24 | $241.7M | $300.9M | ||
| Q2 24 | $224.9M | $279.9M | ||
| Q1 24 | $211.2M | $265.0M |
| Q4 25 | $12.1M | $43.2M | ||
| Q3 25 | $24.3M | $45.9M | ||
| Q2 25 | $19.9M | $38.8M | ||
| Q1 25 | $15.3M | $42.1M | ||
| Q4 24 | $14.4M | $14.4M | ||
| Q3 24 | $21.6M | $36.7M | ||
| Q2 24 | $15.8M | $31.0M | ||
| Q1 24 | $21.2M | $36.8M |
| Q4 25 | 6.8% | 14.2% | ||
| Q3 25 | 10.2% | 15.8% | ||
| Q2 25 | 9.2% | 15.6% | ||
| Q1 25 | 7.7% | 15.7% | ||
| Q4 24 | 7.9% | 6.1% | ||
| Q3 24 | 10.3% | 15.6% | ||
| Q2 24 | 8.4% | 14.4% | ||
| Q1 24 | 8.0% | 17.7% |
| Q4 25 | 5.0% | 11.2% | ||
| Q3 25 | 9.4% | 12.0% | ||
| Q2 25 | 8.3% | 12.1% | ||
| Q1 25 | 7.0% | 12.8% | ||
| Q4 24 | 6.6% | 4.7% | ||
| Q3 24 | 8.9% | 12.2% | ||
| Q2 24 | 7.0% | 11.1% | ||
| Q1 24 | 10.0% | 13.9% |
| Q4 25 | $0.12 | $1.03 | ||
| Q3 25 | $0.23 | $1.10 | ||
| Q2 25 | $0.19 | $0.93 | ||
| Q1 25 | $0.15 | $1.01 | ||
| Q4 24 | $0.13 | $0.33 | ||
| Q3 24 | $0.20 | $0.89 | ||
| Q2 24 | $0.15 | $0.75 | ||
| Q1 24 | $0.21 | $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 | $16.3M | $168.5M |
| Total DebtLower is stronger | $84.0M | — |
| Stockholders' EquityBook value | $542.6M | $1.0B |
| Total Assets | $707.1M | $4.8B |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.3M | $168.5M | ||
| Q3 25 | $29.6M | $160.1M | ||
| Q2 25 | $35.0M | $136.6M | ||
| Q1 25 | $22.6M | $112.9M | ||
| Q4 24 | $57.4M | $121.6M | ||
| Q3 24 | $48.8M | $105.6M | ||
| Q2 24 | $62.5M | $73.0M | ||
| Q1 24 | $65.4M | $85.1M |
| Q4 25 | $84.0M | — | ||
| Q3 25 | $85.2M | — | ||
| Q2 25 | $96.2M | — | ||
| Q1 25 | $97.4M | — | ||
| Q4 24 | $98.6M | — | ||
| Q3 24 | $98.7M | — | ||
| Q2 24 | $123.8M | — | ||
| Q1 24 | $138.6M | — |
| Q4 25 | $542.6M | $1.0B | ||
| Q3 25 | $552.8M | $961.4M | ||
| Q2 25 | $548.3M | $899.9M | ||
| Q1 25 | $530.6M | $850.7M | ||
| Q4 24 | $554.5M | $794.0M | ||
| Q3 24 | $540.1M | $797.5M | ||
| Q2 24 | $532.7M | $723.6M | ||
| Q1 24 | $515.5M | $692.3M |
| Q4 25 | $707.1M | $4.8B | ||
| Q3 25 | $732.6M | $4.6B | ||
| Q2 25 | $731.8M | $4.3B | ||
| Q1 25 | $708.7M | $4.0B | ||
| Q4 24 | $746.4M | $3.7B | ||
| Q3 24 | $734.0M | $3.6B | ||
| Q2 24 | $756.8M | $3.4B | ||
| Q1 24 | $763.6M | $3.2B |
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 0.18× | — | ||
| Q1 25 | 0.18× | — | ||
| Q4 24 | 0.18× | — | ||
| Q3 24 | 0.18× | — | ||
| Q2 24 | 0.23× | — | ||
| Q1 24 | 0.27× | — |
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 | $20.0M | $408.1M |
| Free Cash FlowOCF − Capex | $14.9M | $402.6M |
| FCF MarginFCF / Revenue | 6.2% | 104.4% |
| Capex IntensityCapex / Revenue | 2.1% | 1.4% |
| Cash ConversionOCF / Net Profit | 1.65× | 9.44× |
| TTM Free Cash FlowTrailing 4 quarters | $68.4M | $755.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.0M | $408.1M | ||
| Q3 25 | $33.2M | $171.4M | ||
| Q2 25 | $20.3M | $88.2M | ||
| Q1 25 | $10.1M | $96.8M | ||
| Q4 24 | $16.6M | $305.1M | ||
| Q3 24 | $28.6M | $168.0M | ||
| Q2 24 | $18.7M | $21.0M | ||
| Q1 24 | $15.0M | $94.3M |
| Q4 25 | $14.9M | $402.6M | ||
| Q3 25 | $27.6M | $168.9M | ||
| Q2 25 | $17.6M | $87.1M | ||
| Q1 25 | $8.4M | $96.6M | ||
| Q4 24 | $13.2M | $300.9M | ||
| Q3 24 | $27.5M | $167.6M | ||
| Q2 24 | $17.6M | $18.4M | ||
| Q1 24 | $13.7M | $94.0M |
| Q4 25 | 6.2% | 104.4% | ||
| Q3 25 | 10.7% | 44.2% | ||
| Q2 25 | 7.3% | 27.2% | ||
| Q1 25 | 3.8% | 29.4% | ||
| Q4 24 | 6.1% | 98.8% | ||
| Q3 24 | 11.4% | 55.7% | ||
| Q2 24 | 7.8% | 6.6% | ||
| Q1 24 | 6.5% | 35.5% |
| Q4 25 | 2.1% | 1.4% | ||
| Q3 25 | 2.2% | 0.6% | ||
| Q2 25 | 1.1% | 0.3% | ||
| Q1 25 | 0.8% | 0.1% | ||
| Q4 24 | 1.5% | 1.4% | ||
| Q3 24 | 0.5% | 0.1% | ||
| Q2 24 | 0.5% | 0.9% | ||
| Q1 24 | 0.6% | 0.1% |
| Q4 25 | 1.65× | 9.44× | ||
| Q3 25 | 1.36× | 3.73× | ||
| Q2 25 | 1.02× | 2.27× | ||
| Q1 25 | 0.66× | 2.30× | ||
| Q4 24 | 1.15× | 21.18× | ||
| Q3 24 | 1.33× | 4.58× | ||
| Q2 24 | 1.19× | 0.68× | ||
| Q1 24 | 0.71× | 2.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
SKWD
Segment breakdown not available.
