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Side-by-side financial comparison of Skyward Specialty Insurance Group, Inc. (SKWD) and ZILLOW GROUP, INC. (ZG). Click either name above to swap in a different company.
ZILLOW GROUP, INC. is the larger business by last-quarter revenue ($654.0M vs $385.6M, roughly 1.7× Skyward Specialty Insurance Group, Inc.). Skyward Specialty Insurance Group, Inc. runs the higher net margin — 11.2% vs 0.5%, a 10.8% gap on every dollar of revenue. On growth, Skyward Specialty Insurance Group, Inc. posted the faster year-over-year revenue change (26.7% vs 18.1%). Skyward Specialty Insurance Group, Inc. produced more free cash flow last quarter ($402.6M vs $44.0M). Over the past eight quarters, Skyward Specialty Insurance Group, Inc.'s revenue compounded faster (20.6% CAGR vs 11.2%).
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.
Zillow Group, Inc., or simply Zillow, is an American tech real-estate marketplace company that was founded in 2006 by co-executive chairmen Rich Barton and Lloyd Frink, former Microsoft executives and founders of Microsoft spin-off Expedia; Spencer Rascoff, a co-founder of Hotwire.com; David Beitel, Zillow's current chief technology officer; and Kristin Acker, Zillow's current technology leadership advisor.
SKWD vs ZG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $385.6M | $654.0M |
| Net Profit | $43.2M | $3.0M |
| Gross Margin | — | 72.8% |
| Operating Margin | 14.2% | -1.7% |
| Net Margin | 11.2% | 0.5% |
| Revenue YoY | 26.7% | 18.1% |
| Net Profit YoY | 200.1% | 105.8% |
| EPS (diluted) | $1.03 | $0.01 |
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 | $654.0M | ||
| Q3 25 | $382.5M | $676.0M | ||
| Q2 25 | $319.9M | $655.0M | ||
| Q1 25 | $328.5M | $598.0M | ||
| Q4 24 | $304.4M | $554.0M | ||
| Q3 24 | $300.9M | $581.0M | ||
| Q2 24 | $279.9M | $572.0M | ||
| Q1 24 | $265.0M | $529.0M |
| Q4 25 | $43.2M | $3.0M | ||
| Q3 25 | $45.9M | $10.0M | ||
| Q2 25 | $38.8M | $2.0M | ||
| Q1 25 | $42.1M | $8.0M | ||
| Q4 24 | $14.4M | $-52.0M | ||
| Q3 24 | $36.7M | $-20.0M | ||
| Q2 24 | $31.0M | $-17.0M | ||
| Q1 24 | $36.8M | $-23.0M |
| Q4 25 | — | 72.8% | ||
| Q3 25 | — | 72.6% | ||
| Q2 25 | — | 74.7% | ||
| Q1 25 | — | 76.8% | ||
| Q4 24 | — | 75.8% | ||
| Q3 24 | — | 75.9% | ||
| Q2 24 | — | 77.3% | ||
| Q1 24 | — | 76.7% |
| Q4 25 | 14.2% | -1.7% | ||
| Q3 25 | 15.8% | -0.4% | ||
| Q2 25 | 15.6% | -1.7% | ||
| Q1 25 | 15.7% | -1.5% | ||
| Q4 24 | 6.1% | -12.5% | ||
| Q3 24 | 15.6% | -7.7% | ||
| Q2 24 | 14.4% | -6.6% | ||
| Q1 24 | 17.7% | -8.5% |
| Q4 25 | 11.2% | 0.5% | ||
| Q3 25 | 12.0% | 1.5% | ||
| Q2 25 | 12.1% | 0.3% | ||
| Q1 25 | 12.8% | 1.3% | ||
| Q4 24 | 4.7% | -9.4% | ||
| Q3 24 | 12.2% | -3.4% | ||
| Q2 24 | 11.1% | -3.0% | ||
| Q1 24 | 13.9% | -4.3% |
| Q4 25 | $1.03 | $0.01 | ||
| Q3 25 | $1.10 | $0.04 | ||
| Q2 25 | $0.93 | $0.01 | ||
| Q1 25 | $1.01 | $0.03 | ||
| Q4 24 | $0.33 | $-0.23 | ||
| Q3 24 | $0.89 | $-0.08 | ||
| Q2 24 | $0.75 | $-0.07 | ||
| Q1 24 | $0.90 | $-0.10 |
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 | $768.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.0B | $4.9B |
| Total Assets | $4.8B | $5.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $168.5M | $768.0M | ||
| Q3 25 | $160.1M | $874.0M | ||
| Q2 25 | $136.6M | $587.0M | ||
| Q1 25 | $112.9M | $914.0M | ||
| Q4 24 | $121.6M | $1.1B | ||
| Q3 24 | $105.6M | $1.1B | ||
| Q2 24 | $73.0M | $1.2B | ||
| Q1 24 | $85.1M | $1.4B |
| Q4 25 | $1.0B | $4.9B | ||
| Q3 25 | $961.4M | $5.0B | ||
| Q2 25 | $899.9M | $4.7B | ||
| Q1 25 | $850.7M | $4.8B | ||
| Q4 24 | $794.0M | $4.8B | ||
| Q3 24 | $797.5M | $4.7B | ||
| Q2 24 | $723.6M | $4.5B | ||
| Q1 24 | $692.3M | $4.7B |
| Q4 25 | $4.8B | $5.7B | ||
| Q3 25 | $4.6B | $5.7B | ||
| Q2 25 | $4.3B | $5.4B | ||
| Q1 25 | $4.0B | $5.7B | ||
| Q4 24 | $3.7B | $5.8B | ||
| Q3 24 | $3.6B | $6.2B | ||
| Q2 24 | $3.4B | $6.6B | ||
| Q1 24 | $3.2B | $6.8B |
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 | $72.0M |
| Free Cash FlowOCF − Capex | $402.6M | $44.0M |
| FCF MarginFCF / Revenue | 104.4% | 6.7% |
| Capex IntensityCapex / Revenue | 1.4% | 4.3% |
| Cash ConversionOCF / Net Profit | 9.44× | 24.00× |
| TTM Free Cash FlowTrailing 4 quarters | $755.2M | $235.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $408.1M | $72.0M | ||
| Q3 25 | $171.4M | $105.0M | ||
| Q2 25 | $88.2M | $87.0M | ||
| Q1 25 | $96.8M | $104.0M | ||
| Q4 24 | $305.1M | $122.0M | ||
| Q3 24 | $168.0M | $171.0M | ||
| Q2 24 | $21.0M | $55.0M | ||
| Q1 24 | $94.3M | $80.0M |
| Q4 25 | $402.6M | $44.0M | ||
| Q3 25 | $168.9M | $73.0M | ||
| Q2 25 | $87.1M | $50.0M | ||
| Q1 25 | $96.6M | $68.0M | ||
| Q4 24 | $300.9M | $88.0M | ||
| Q3 24 | $167.6M | $138.0M | ||
| Q2 24 | $18.4M | $18.0M | ||
| Q1 24 | $94.0M | $41.0M |
| Q4 25 | 104.4% | 6.7% | ||
| Q3 25 | 44.2% | 10.8% | ||
| Q2 25 | 27.2% | 7.6% | ||
| Q1 25 | 29.4% | 11.4% | ||
| Q4 24 | 98.8% | 15.9% | ||
| Q3 24 | 55.7% | 23.8% | ||
| Q2 24 | 6.6% | 3.1% | ||
| Q1 24 | 35.5% | 7.8% |
| Q4 25 | 1.4% | 4.3% | ||
| Q3 25 | 0.6% | 4.7% | ||
| Q2 25 | 0.3% | 5.6% | ||
| Q1 25 | 0.1% | 6.0% | ||
| Q4 24 | 1.4% | 6.1% | ||
| Q3 24 | 0.1% | 5.7% | ||
| Q2 24 | 0.9% | 6.5% | ||
| Q1 24 | 0.1% | 7.4% |
| Q4 25 | 9.44× | 24.00× | ||
| Q3 25 | 3.73× | 10.50× | ||
| Q2 25 | 2.27× | 43.50× | ||
| Q1 25 | 2.30× | 13.00× | ||
| Q4 24 | 21.18× | — | ||
| Q3 24 | 4.58× | — | ||
| Q2 24 | 0.68× | — | ||
| Q1 24 | 2.56× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SKWD
Segment breakdown not available.
ZG
| Residential Revenue | $418.0M | 64% |
| Rental Revenue | $168.0M | 26% |
| Mortgage Revenue | $57.0M | 9% |
| Display Advertising And Other Revenue | $11.0M | 2% |
