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Side-by-side financial comparison of Skyward Specialty Insurance Group, Inc. (SKWD) and WillScot Holdings Corp (WSC). Click either name above to swap in a different company.
WillScot Holdings Corp is the larger business by last-quarter revenue ($566.0M vs $385.6M, roughly 1.5× Skyward Specialty Insurance Group, Inc.). Skyward Specialty Insurance Group, Inc. runs the higher net margin — 11.2% vs -33.1%, a 44.3% gap on every dollar of revenue. On growth, Skyward Specialty Insurance Group, Inc. posted the faster year-over-year revenue change (26.7% vs -6.1%). Skyward Specialty Insurance Group, Inc. produced more free cash flow last quarter ($402.6M vs $149.7M). Over the past eight quarters, Skyward Specialty Insurance Group, Inc.'s revenue compounded faster (20.6% CAGR vs -1.8%).
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.
WillScot Holdings Corp is a leading provider of modular space solutions and portable storage services across North America. It serves a wide range of sectors including construction, commercial development, education, healthcare, government projects, and special events, offering flexible, scalable temporary and semi-permanent space solutions tailored to diverse client needs.
SKWD vs WSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $385.6M | $566.0M |
| Net Profit | $43.2M | $-187.3M |
| Gross Margin | — | 50.4% |
| Operating Margin | 14.2% | -32.5% |
| Net Margin | 11.2% | -33.1% |
| Revenue YoY | 26.7% | -6.1% |
| Net Profit YoY | 200.1% | -310.0% |
| EPS (diluted) | $1.03 | $-1.02 |
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 | $566.0M | ||
| Q3 25 | $382.5M | $566.8M | ||
| Q2 25 | $319.9M | $589.1M | ||
| Q1 25 | $328.5M | $559.6M | ||
| Q4 24 | $304.4M | $602.5M | ||
| Q3 24 | $300.9M | $601.4M | ||
| Q2 24 | $279.9M | $604.6M | ||
| Q1 24 | $265.0M | $587.2M |
| Q4 25 | $43.2M | $-187.3M | ||
| Q3 25 | $45.9M | $43.3M | ||
| Q2 25 | $38.8M | $47.9M | ||
| Q1 25 | $42.1M | $43.1M | ||
| Q4 24 | $14.4M | $89.2M | ||
| Q3 24 | $36.7M | $-70.5M | ||
| Q2 24 | $31.0M | $-46.9M | ||
| Q1 24 | $36.8M | $56.2M |
| Q4 25 | — | 50.4% | ||
| Q3 25 | — | 49.7% | ||
| Q2 25 | — | 50.3% | ||
| Q1 25 | — | 53.7% | ||
| Q4 24 | — | 55.8% | ||
| Q3 24 | — | 53.5% | ||
| Q2 24 | — | 54.1% | ||
| Q1 24 | — | 54.0% |
| Q4 25 | 14.2% | -32.5% | ||
| Q3 25 | 15.8% | 21.0% | ||
| Q2 25 | 15.6% | 21.5% | ||
| Q1 25 | 15.7% | 21.3% | ||
| Q4 24 | 6.1% | 28.9% | ||
| Q3 24 | 15.6% | -5.9% | ||
| Q2 24 | 14.4% | -0.9% | ||
| Q1 24 | 17.7% | 22.1% |
| Q4 25 | 11.2% | -33.1% | ||
| Q3 25 | 12.0% | 7.6% | ||
| Q2 25 | 12.1% | 8.1% | ||
| Q1 25 | 12.8% | 7.7% | ||
| Q4 24 | 4.7% | 14.8% | ||
| Q3 24 | 12.2% | -11.7% | ||
| Q2 24 | 11.1% | -7.7% | ||
| Q1 24 | 13.9% | 9.6% |
| Q4 25 | $1.03 | $-1.02 | ||
| Q3 25 | $1.10 | $0.24 | ||
| Q2 25 | $0.93 | $0.26 | ||
| Q1 25 | $1.01 | $0.23 | ||
| Q4 24 | $0.33 | $0.48 | ||
| Q3 24 | $0.89 | $-0.37 | ||
| Q2 24 | $0.75 | $-0.25 | ||
| Q1 24 | $0.90 | $0.29 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $168.5M | $14.6M |
| Total DebtLower is stronger | — | $3.6B |
| Stockholders' EquityBook value | $1.0B | $856.3M |
| Total Assets | $4.8B | $5.8B |
| Debt / EquityLower = less leverage | — | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $168.5M | $14.6M | ||
| Q3 25 | $160.1M | $14.8M | ||
| Q2 25 | $136.6M | $12.8M | ||
| Q1 25 | $112.9M | $10.7M | ||
| Q4 24 | $121.6M | $9.0M | ||
| Q3 24 | $105.6M | $11.0M | ||
| Q2 24 | $73.0M | $5.9M | ||
| Q1 24 | $85.1M | $13.1M |
| Q4 25 | — | $3.6B | ||
| Q3 25 | — | $3.6B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $3.5B | ||
| Q1 24 | — | $3.5B |
| Q4 25 | $1.0B | $856.3M | ||
| Q3 25 | $961.4M | $1.1B | ||
| Q2 25 | $899.9M | $1.0B | ||
| Q1 25 | $850.7M | $1.0B | ||
| Q4 24 | $794.0M | $1.0B | ||
| Q3 24 | $797.5M | $1.1B | ||
| Q2 24 | $723.6M | $1.2B | ||
| Q1 24 | $692.3M | $1.3B |
| Q4 25 | $4.8B | $5.8B | ||
| Q3 25 | $4.6B | $6.1B | ||
| Q2 25 | $4.3B | $6.1B | ||
| Q1 25 | $4.0B | $6.0B | ||
| Q4 24 | $3.7B | $6.0B | ||
| Q3 24 | $3.6B | $6.0B | ||
| Q2 24 | $3.4B | $6.0B | ||
| Q1 24 | $3.2B | $6.2B |
| Q4 25 | — | 4.15× | ||
| Q3 25 | — | 3.39× | ||
| Q2 25 | — | 3.55× | ||
| Q1 25 | — | 3.56× | ||
| Q4 24 | — | 3.62× | ||
| Q3 24 | — | 3.42× | ||
| Q2 24 | — | 2.88× | ||
| Q1 24 | — | 2.63× |
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 | $158.9M |
| Free Cash FlowOCF − Capex | $402.6M | $149.7M |
| FCF MarginFCF / Revenue | 104.4% | 26.5% |
| Capex IntensityCapex / Revenue | 1.4% | 1.6% |
| Cash ConversionOCF / Net Profit | 9.44× | — |
| TTM Free Cash FlowTrailing 4 quarters | $755.2M | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $408.1M | $158.9M | ||
| Q3 25 | $171.4M | $191.2M | ||
| Q2 25 | $88.2M | $205.3M | ||
| Q1 25 | $96.8M | $206.6M | ||
| Q4 24 | $305.1M | $178.9M | ||
| Q3 24 | $168.0M | $-1.6M | ||
| Q2 24 | $21.0M | $175.6M | ||
| Q1 24 | $94.3M | $208.7M |
| Q4 25 | $402.6M | $149.7M | ||
| Q3 25 | $168.9M | $186.9M | ||
| Q2 25 | $87.1M | $199.0M | ||
| Q1 25 | $96.6M | $202.0M | ||
| Q4 24 | $300.9M | $176.6M | ||
| Q3 24 | $167.6M | $-4.9M | ||
| Q2 24 | $18.4M | $169.4M | ||
| Q1 24 | $94.0M | $202.1M |
| Q4 25 | 104.4% | 26.5% | ||
| Q3 25 | 44.2% | 33.0% | ||
| Q2 25 | 27.2% | 33.8% | ||
| Q1 25 | 29.4% | 36.1% | ||
| Q4 24 | 98.8% | 29.3% | ||
| Q3 24 | 55.7% | -0.8% | ||
| Q2 24 | 6.6% | 28.0% | ||
| Q1 24 | 35.5% | 34.4% |
| Q4 25 | 1.4% | 1.6% | ||
| Q3 25 | 0.6% | 0.7% | ||
| Q2 25 | 0.3% | 1.1% | ||
| Q1 25 | 0.1% | 0.8% | ||
| Q4 24 | 1.4% | 0.4% | ||
| Q3 24 | 0.1% | 0.6% | ||
| Q2 24 | 0.9% | 1.0% | ||
| Q1 24 | 0.1% | 1.1% |
| Q4 25 | 9.44× | — | ||
| Q3 25 | 3.73× | 4.41× | ||
| Q2 25 | 2.27× | 4.28× | ||
| Q1 25 | 2.30× | 4.80× | ||
| Q4 24 | 21.18× | 2.01× | ||
| Q3 24 | 4.58× | — | ||
| Q2 24 | 0.68× | — | ||
| Q1 24 | 2.56× | 3.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SKWD
Segment breakdown not available.
WSC
| Modular Space Leasing | $249.8M | 44% |
| Value Added Product And Services | $101.0M | 18% |
| Portable Storage Leasing | $83.0M | 15% |
| Delivery Revenue | $48.2M | 9% |
| Installation Revenue | $45.0M | 8% |
| Rental Units | $19.7M | 3% |
| New Units | $15.5M | 3% |
| Value Added Services | $10.3M | 2% |
| Other Leasing Related Products And Services | $3.8M | 1% |
