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Side-by-side financial comparison of Skyward Specialty Insurance Group, Inc. (SKWD) and Zscaler, Inc. (ZS). Click either name above to swap in a different company.
Zscaler, Inc. is the larger business by last-quarter revenue ($788.1M vs $475.9M, roughly 1.7× Skyward Specialty Insurance Group, Inc.). Skyward Specialty Insurance Group, Inc. runs the higher net margin — 10.5% vs -1.5%, a 11.9% gap on every dollar of revenue. On growth, Skyward Specialty Insurance Group, Inc. posted the faster year-over-year revenue change (44.8% vs 25.5%). Over the past eight quarters, Skyward Specialty Insurance Group, Inc.'s revenue compounded faster (30.4% CAGR vs 22.5%).
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.
Zscaler, Inc. is an American cloud security company based in San Jose, California. The company offers cloud-based services to protect enterprise networks and data.
SKWD vs ZS — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $475.9M | $788.1M |
| Net Profit | $49.7M | $-11.6M |
| Gross Margin | — | 76.6% |
| Operating Margin | 14.9% | -4.6% |
| Net Margin | 10.5% | -1.5% |
| Revenue YoY | 44.8% | 25.5% |
| Net Profit YoY | — | 3.6% |
| EPS (diluted) | $1.09 | $-0.07 |
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.
| Q1 26 | $475.9M | — | ||
| Q4 25 | $385.6M | $788.1M | ||
| Q3 25 | $382.5M | $719.2M | ||
| Q2 25 | $319.9M | $678.0M | ||
| Q1 25 | $328.5M | $647.9M | ||
| Q4 24 | $304.4M | $628.0M | ||
| Q3 24 | $300.9M | $592.9M | ||
| Q2 24 | $279.9M | $553.2M |
| Q1 26 | $49.7M | — | ||
| Q4 25 | $43.2M | $-11.6M | ||
| Q3 25 | $45.9M | $-17.6M | ||
| Q2 25 | $38.8M | $-4.1M | ||
| Q1 25 | $42.1M | $-7.7M | ||
| Q4 24 | $14.4M | $-12.1M | ||
| Q3 24 | $36.7M | $-14.9M | ||
| Q2 24 | $31.0M | $19.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | 76.6% | ||
| Q3 25 | — | 76.1% | ||
| Q2 25 | — | 77.0% | ||
| Q1 25 | — | 77.1% | ||
| Q4 24 | — | 77.5% | ||
| Q3 24 | — | 78.0% | ||
| Q2 24 | — | 78.6% |
| Q1 26 | 14.9% | — | ||
| Q4 25 | 14.2% | -4.6% | ||
| Q3 25 | 15.8% | -4.5% | ||
| Q2 25 | 15.6% | -3.7% | ||
| Q1 25 | 15.7% | -6.2% | ||
| Q4 24 | 6.1% | -4.9% | ||
| Q3 24 | 15.6% | -4.5% | ||
| Q2 24 | 14.4% | -0.5% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 11.2% | -1.5% | ||
| Q3 25 | 12.0% | -2.4% | ||
| Q2 25 | 12.1% | -0.6% | ||
| Q1 25 | 12.8% | -1.2% | ||
| Q4 24 | 4.7% | -1.9% | ||
| Q3 24 | 12.2% | -2.5% | ||
| Q2 24 | 11.1% | 3.5% |
| Q1 26 | $1.09 | — | ||
| Q4 25 | $1.03 | $-0.07 | ||
| Q3 25 | $1.10 | $-0.11 | ||
| Q2 25 | $0.93 | $-0.03 | ||
| Q1 25 | $1.01 | $-0.05 | ||
| Q4 24 | $0.33 | $-0.08 | ||
| Q3 24 | $0.89 | $-0.09 | ||
| Q2 24 | $0.75 | $0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.1M | $1.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $2.0B |
| Total Assets | $6.5B | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $4.1M | — | ||
| Q4 25 | $168.5M | $1.3B | ||
| Q3 25 | $160.1M | $2.4B | ||
| Q2 25 | $136.6M | $2.0B | ||
| Q1 25 | $112.9M | $1.8B | ||
| Q4 24 | $121.6M | $1.6B | ||
| Q3 24 | $105.6M | $1.4B | ||
| Q2 24 | $73.0M | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B |
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.0B | $2.0B | ||
| Q3 25 | $961.4M | $1.8B | ||
| Q2 25 | $899.9M | $1.8B | ||
| Q1 25 | $850.7M | $1.6B | ||
| Q4 24 | $794.0M | $1.4B | ||
| Q3 24 | $797.5M | $1.3B | ||
| Q2 24 | $723.6M | $1.1B |
| Q1 26 | $6.5B | — | ||
| Q4 25 | $4.8B | $6.5B | ||
| Q3 25 | $4.6B | $6.4B | ||
| Q2 25 | $4.3B | $5.3B | ||
| Q1 25 | $4.0B | $5.0B | ||
| Q4 24 | $3.7B | $4.7B | ||
| Q3 24 | $3.6B | $4.7B | ||
| Q2 24 | $3.4B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 1.04× |
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 | — | $448.3M |
| Free Cash FlowOCF − Capex | — | $431.0M |
| FCF MarginFCF / Revenue | — | 54.7% |
| Capex IntensityCapex / Revenue | — | 2.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $924.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $408.1M | $448.3M | ||
| Q3 25 | $171.4M | $250.6M | ||
| Q2 25 | $88.2M | $211.1M | ||
| Q1 25 | $96.8M | $179.4M | ||
| Q4 24 | $305.1M | $331.3M | ||
| Q3 24 | $168.0M | $203.6M | ||
| Q2 24 | $21.0M | $173.4M |
| Q1 26 | — | — | ||
| Q4 25 | $402.6M | $431.0M | ||
| Q3 25 | $168.9M | $190.6M | ||
| Q2 25 | $87.1M | $138.9M | ||
| Q1 25 | $96.6M | $164.4M | ||
| Q4 24 | $300.9M | $314.3M | ||
| Q3 24 | $167.6M | $154.2M | ||
| Q2 24 | $18.4M | $137.8M |
| Q1 26 | — | — | ||
| Q4 25 | 104.4% | 54.7% | ||
| Q3 25 | 44.2% | 26.5% | ||
| Q2 25 | 27.2% | 20.5% | ||
| Q1 25 | 29.4% | 25.4% | ||
| Q4 24 | 98.8% | 50.1% | ||
| Q3 24 | 55.7% | 26.0% | ||
| Q2 24 | 6.6% | 24.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | 2.2% | ||
| Q3 25 | 0.6% | 8.3% | ||
| Q2 25 | 0.3% | 10.6% | ||
| Q1 25 | 0.1% | 2.3% | ||
| Q4 24 | 1.4% | 2.7% | ||
| Q3 24 | 0.1% | 8.3% | ||
| Q2 24 | 0.9% | 6.4% |
| Q1 26 | — | — | ||
| Q4 25 | 9.44× | — | ||
| Q3 25 | 3.73× | — | ||
| Q2 25 | 2.27× | — | ||
| Q1 25 | 2.30× | — | ||
| Q4 24 | 21.18× | — | ||
| Q3 24 | 4.58× | — | ||
| Q2 24 | 0.68× | 9.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
