Palomar Holdings, Inc. (PLMR) vs Skyward Specialty Insurance Group, Inc. (SKWD)

Palomar Holdings, Inc. and Skyward Specialty Insurance Group, Inc. are both Insurance Property & Casualty companies. Palomar Holdings, Inc. is the larger, with a market value of $3.6B against $2.7B — 1.4× the size. Skyward Specialty Insurance Group, Inc. trades at the lower P/E: 13.8× against 18.2×. Palomar Holdings, Inc. grew revenue faster over the last twelve months: 60.0% against 38.3%. Palomar Holdings, Inc. has the higher net margin (18.6% vs 10.8%) and the higher return on invested capital (13.5% vs 10.9%). Across the 18 metrics below, Palomar Holdings, Inc. leads on 9 and Skyward Specialty Insurance Group, Inc. on 9.

Valuation

Metric PLMR SKWD Insurance Property & Casualty median
P/E 18.20 13.81 10.75
P/S 3.37 1.57 1.21
P/B 3.75 2.14 1.99
Price to free cash flow 9.01 6.83 7.76
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 5.49% 7.24% 9.08%
Free cash flow yield 11.10% 14.65% 12.11%

Profitability

Metric PLMR SKWD Insurance Property & Casualty median
Gross margin 24.87% 44.14% 41.16%
Operating margin 24.87% 15.09% 15.09%
Net margin 18.61% 10.84% 11.51%
Free cash flow margin 37.41% 23.20% 17.46%
Return on equity 22.23% 17.34% 17.34%
Return on assets 5.98% 3.38% 3.74%
Return on invested capital 13.54% 10.89% 12.06%

Growth

Metric PLMR SKWD Insurance Property & Casualty median
Revenue growth (TTM) 59.98% 38.27% 8.02%
EPS growth (last fiscal year) 60.04% 41.81% 39.61%
Revenue growth, 5-year CAGR 39.06% — 9.23%
Net income growth, 5-year CAGR 99.37% — 10.09%

Health

Metric PLMR SKWD Insurance Property & Casualty median
Debt to equity 0.30 0.33 0.25
Current ratio 0.50 0.52 0.42
Net debt to EBITDA (0.41) (0.43) 0.08

Dividend

Metric PLMR SKWD Insurance Property & Casualty median
Dividend yield 0.32% — 1.50%
Payout ratio 0.06 — 0.14

Size

Metric PLMR SKWD Insurance Property & Casualty median
Market cap 3.62b 2.67b 2.67b

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