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Friday 6 November 2026
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Bowhead Specialty Holdings Inc.
BOW Financial Insurance Property & Casualty
Bowhead Specialty Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $551.6 million, up 29.6% from fiscal 2024.
- Revenue
- +19.3%
- EPS
- −12.7%
- Free cash flow
- +68.6%
Quarter to September 2026, against a year earlier
34.16
0.06
+0.18%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 188 | 283 | 426 | 552 | 643 | +43.3% | 173 | 208 | 243 | (24.0%) | |
| Gross margin, % | — | — | — | — | — | — | 32.33 | 33.94 | 33.93 | 31.73 | 29.81 | (0.6) pt | ||||||
| EBT | — | — | — | — | — | — | 15 | 32 | 51 | 67 | 75 | +66.2% | ||||||
| EBT margin, % | — | — | — | — | — | — | 7.81 | 11.33 | 11.87 | 12.20 | 11.66 | +4.4 pt | ||||||
| Net income | — | — | — | — | — | — | 11 | 25 | 38 | 54 | 60 | +68.4% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | 7.82 | 11.81 | 14.55 | 16.85 | 19.52 | +29.2% | |||||
| Earnings | — | — | — | — | — | — | 0.47 | 1.04 | 1.29 | 1.59 | 1.79 | +50.2% | ||||||
| Cash flow | — | — | — | — | — | — | 7.57 | 9.84 | 10.06 | 10.13 | 12.51 | +10.2% | ||||||
| Capex | — | — | — | — | — | — | (0.17) | (0.16) | (0.11) | (0.17) | (0.16) | +0.9% | ||||||
| Free cash flow | — | — | — | — | — | — | 7.40 | 9.68 | 9.95 | 9.96 | 12.34 | +10.4% | ||||||
| Book value | — | — | — | — | — | — | 0.00 | 8.00 | 12.65 | 13.69 | 13.69 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | 24 | 24 | 29 | 33 | 33 | +10.9% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 22.25 | 22.25 | 28.14 | 17.95 | 19.05 | 22.6 | |||||
| P/S | — | — | — | — | — | — | 0.00 | 0.00 | 2.44 | 1.69 | 1.75 | 1.0 | ||||||
| P/B | — | — | — | — | — | — | 2.97 | 2.97 | 2.81 | 2.08 | 2.49 | 2.7 | ||||||
| EV/Sales | — | — | — | — | — | — | 0.00 | 0.00 | 1.92 | 1.54 | — | 0.9 | ||||||
| EV/FCF | — | — | — | — | — | — | 1.65 | 1.65 | 2.81 | 2.60 | — | 2.2 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | 182 | 236 | 294 | 332 | 412 | +22.2% | |||||
| Capex | — | — | — | — | — | — | (4) | (4) | (3) | (6) | (5) | +11.9% | ||||||
| Free cash flow | — | — | — | — | — | — | 178 | 232 | 291 | 326 | 407 | +22.4% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | — | (415) | (580) | (855) | (1,126) | +43.4% | |||||
| Net debt | — | — | — | — | — | — | — | (120) | (222) | (87) | (126) | (14.6%) | ||||||
| Shareholders’ equity | — | — | — | — | — | — | — | 192 | 370 | 448 | 451 | +52.8% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | 0.00 | 4.87 | 2.85 | 2.67 | 2.42 | +2.7 pt | |||||
| ROIC | — | — | — | — | — | — | 0.00 | 28.29 | 23.35 | 12.60 | 16.51 | +12.6 pt | ||||||
| ROE | — | — | — | — | — | — | 0.00 | 0.00 | 13.60 | 13.14 | 13.60 | +13.1 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 216 | 249 | 296 | — | +17.1% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | 0.00 | 1.31 | 1.71 | 1.86 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Bowhead Specialty Holdings Inc. vs peers in Insurance Property & Casualty (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| STC Stewart Information Services Corporation | $1.5B | 12.2× | 10.7× | +13.02% (above 0%: growing) | −36.77% (below 0%: shrinking) | −12.37% (below 0%: shrinking) | 64.58% | 8.51% | Compare |
| UVE UNIVERSAL INSURANCE HOLDINGS INC | $1.3B | 5.7× | 7.5× | +9.56% (above 0%: growing) | +32.87% (above 0%: growing) | +34.17% (above 0%: growing) | 24.43% | 16.44% | Compare |
| UFCS United Fire Group, Inc | $1.2B | 9.0× | 11.5× | +10.62% (above 0%: growing) | −10.07% (below 0%: shrinking) | +67.57% (above 0%: growing) | 33.79% | 11.44% | Compare |
| ASIC Ategrity Specialty Insurance Company Holdings | $1.2B | 12.0× | 11.8× | +8.18% (above 0%: growing) | −36.17% (below 0%: shrinking) | +80.75% (above 0%: growing) | 0.00% | 11.63% | Compare |
| BOW Bowhead Specialty Holdings Inc. | $1.1B | 19.1× | 17.0× | +19.34% (above 0%: growing) | −12.71% (below 0%: shrinking) | +68.59% (above 0%: growing) | 29.41% | 13.72% | |
| HRTG Heritage Insurance Holdings, Inc. | $998.3M | 4.8× | 6.7× | +2.96% (above 0%: growing) | +32.90% (above 0%: growing) | +237.57% (above 0%: growing) | 50.25% | 39.15% | Compare |
| HIPO Hippo Holdings Inc. | $926.2M | 28.3× | 31.6× | +29.35% (above 0%: growing) | −91.48% (below 0%: shrinking) | +414.93% (above 0%: growing) | 100.00% | 6.47% | Compare |
| OIG Orion180 Insurance Group Inc. | $874.5M | — | — | — | — | — | — | — | Compare |
| ROOT Root, Inc. | $716.7M | 9.2× | 11.5× | −1.68% (below 0%: shrinking) | n/m | −18.06% (below 0%: shrinking) | 38.79% | 4.80% | Compare |
| Median of peers | $1.1B | 9.2× | 11.5× | +9.56% | −23.12% | +67.57% | 38.79% | 11.44% |