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Skyward Specialty Insurance Group, Inc. cash flow statement

In fiscal 2025, Skyward Specialty Insurance Group, Inc.'s operations generated $408m of cash; it spent $5.5m on capital projects, leaving free cash flow of $403m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations175209338305408407
Depreciation and amortisation64434—
Stock-based pay129912—
Capital spending223450
Free cash flow173207335301403407
Free cash flow after stock pay173204327291391—
Shares issued—0129———

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Skyward Specialty Insurance Group, Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Skyward Specialty Insurance Group, Inc.