BOW financial statements
The full income statement, balance sheet, and cash-flow statement for Bowhead Specialty Holdings Inc. (BOW), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | |
| Revenue | 552M+29.6% | 426M+50.2% | 283M+51.1% | 188M | |
| Total operating expenses | 102M+14.8% | 89.1M+40.4% | 63.5M+38.0% | 46.0M | |
| Interest expense | 2.01M+177.5% | 725K | 0.00 | 0.00 | |
| Pre-tax income | 67.3M+33.2% | 50.5M+57.4% | 32.1M+119.1% | 14.7M | |
| Income tax | 13.5M+9.9% | 12.3M+73.9% | 7.07M+107.6% | 3.40M | |
| Net income | 53.8M+40.6% | 38.2M+52.7% | 25.0M+122.5% | 11.3M | |
| $1.59+23.3% | $1.29+24.0% | $1.04+121.3% | $0.47 | ||
| EPS (basic) | $1.64+25.2% | $1.31+26.0% | $1.04+121.3% | $0.47 | |
| Weighted-avg shares (basic) | 32.7M+11.9% | 29.3M+21.9% | 24.0M+0.0% | 24.0M | |
| Weighted-avg shares (diluted) | 33.7M+13.7% | 29.7M+23.7% | 24.0M+0.0% | 24.0M | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | |
| Cash & equivalents | 194M+98.6% | 97.5M-17.4% | 118M+82.6% | 64.7M | |
| 2.37B+43.4% | 1.65B+60.9% | 1.03B | — | ||
| Property, plant & equipment | 10.6M+55.4% | 6.84M-9.9% | 7.60M | — | |
| Operating lease right-of-use | 2.80M-30.0% | 4.00M+700.0% | 500K | — | |
| Deferred tax assets | 22.5M+10.5% | 20.3M+42.9% | 14.2M | — | |
| 1.92B+49.7% | 1.28B+53.6% | 836M | — | ||
| Long-term debt | 146M | 0.00 | — | — | |
| Operating lease liability (total) | 2.98M-30.6% | 4.30M+514.3% | 700K | — | |
| 448M+21.1% | 370M+92.7% | 192M | — | ||
| Common stock | 328K+0.3% | 327K+36.3% | 240K | — | |
| Additional paid-in capital | 326M+2.5% | 318M+78.2% | 179M | — | |
| Retained earnings | 117M+85.5% | 62.9M+155.0% | 24.7M | — | |
| Accumulated other comprehensive income | 5.35M+148.0% | -11.2M+1.9% | -11.4M | — | |
| Total liabilities & equity | 2.37B+43.4% | 1.65B+60.9% | 1.03B | — | |
| Common shares issued | 32.8M+0.4% | 32.7M+36.1% | 24.0M | — | |
| Common shares outstanding | 32.8M+0.4% | 32.7M+36.1% | 24.0M | — | |
| Shares outstanding (cover) | 32.8M+0.4% | 32.7M | — | — | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | |
| 332M+12.7% | 294M+24.6% | 236M+30.0% | 182M | ||
| Depreciation & amortization | 1.78M-54.0% | 3.87M+70.5% | 2.27M+212.0% | 727K | |
| Share-based compensation | 7.24M+76.4% | 4.10M+500.6% | 683K+85.6% | 368K | |
| Deferred income taxes | -6.53M-5.8% | -6.17M-41.4% | -4.36M-46.8% | -2.97M | |
| -464M-42.5% | -326M-18.6% | -275M-46.6% | -187M | ||
| Capital expenditure | 5.57M+79.0% | 3.11M-18.5% | 3.82M-3.9% | 3.97M | |
| Free cash flow | 326M+12.0% | 291M+25.3% | 232M+30.8% | 178M | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | |
| 145M+7.9% | 134M+72.4% | 77.7M+7865.6% | -1.00M | ||
| Long-term debt issued | 150M | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net change in cash | 11.7M-88.6% | 102M+161.5% | 39.1M+674.1% | -6.81M | |
| Income taxes paid | 23.4M+42.8% | 16.4M+17.1% | 14.0M+164.8% | 5.29M | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | |
| Market cap | 936M-19.4% | 1.16B | — | — | |
| P/E | 17.4×-42.7% | 30.3× | — | — | |
| P/S | 1.7×-37.8% | 2.7× | — | — | |
| P/B | 2.1×-33.4% | 3.1× | — | — | |
| P/FCF | 2.9×-28.0% | 4.0× | — | — | |
| Earnings yield | 5.7%+74.4% | 3.3% | — | — | |
| FCF yield | 34.8%+38.8% | 25.1% | — | — | |
| Source filing | 10-K | 10-K | 10-K | 10-K |
About this data
Source: BOW’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all BOW filings on SEC EDGAR → Not investment advice.