A Business at a Glance
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Bowhead Specialty Holdings Inc.
BOW
$1.1B
Mkt Cap
$31.11
+5.28%
Bowhead Specialty Holdings Inc. (BOW) has a current P/E ratio of 19.6, compared to its historical median P/E of 22.3. The stock is currently considered Fair based on its historical valuation range.
Bowhead Specialty Holdings Inc. (BOW) has a 5-year average return on invested capital (ROIC) of 16.9%. This indicates strong capital allocation and a potential competitive advantage.
Bowhead Specialty Holdings Inc. (BOW) has a market capitalization of $1.0B. It is classified as a small-cap stock.
Bowhead Specialty Holdings Inc. (BOW) does not currently pay a regular dividend.
Based on historical P/E analysis, Bowhead Specialty Holdings Inc. (BOW) appears fair. The current P/E of 19.6 is 12% below its historical median of 22.3. The estimated fair value CAGR (P/E method) is 8.5%.
Bowhead Specialty Holdings Inc. (BOW) operates in the Fire, Marine & Casualty Insurance industry, within the Financials sector.
Bowhead Specialty Holdings Inc. (BOW) reported annual revenue of $552 million in its most recent fiscal year, based on SEC EDGAR filings.
Who We Are We were founded in September 2020, backed by capital provided by GPC Partners Investments (SPV III) LP (“GPC Fund”), a private equity fund managed by Gallatin Point Capital LLC (“Gallatin Point”), and our strategic partner, AmFam, to take advantage of favorable pricing environments, and to address a growing and unmet demand from brokers and policyholders for specialized insurance solutions and quality service in complex lines of business. Our principal objective is to create and sustain superior returns for our stockholders by generating consistent, underwriting profits across our product offerings and through all market cycles, while prudently managing capital. We offer commercial specialty property and casualty (“P&C”) insurance products to policyholders that vary in size, industry and complexity, focusing on casualty, professional liability, and healthcare liability risks.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|
| Revenue | 585M | 552M | 426M | 283M | 188M |
| Net Income | 58M | 54M | 38M | 25M | 11M |
| EPS | $1.78 | $1.59 | $1.29 | $1.04 | $0.47 |
| Free Cash Flow | 344M | 326M | 291M | 232M | 178M |
| ROIC | 0.0% | 11.1% | 13.6% | 26.1% | - |
| Gross Margin | - | 12.2% | 11.9% | 11.3% | 7.8% |
| Debt/Equity | 0.32 | 0.33 | 0.00 | 4.35 | - |
| Dividends/Share | $0.00 | - | - | - | $0.00 |
| Operating Income | 0 | 67M | 51M | 32M | 15M |
| Operating Margin | 0.0% | 12.2% | 11.9% | 11.3% | 7.8% |
| ROE | 12.7% | 13.1% | 13.6% | 13.0% | - |
| Shares Outstanding | 33M | 34M | 30M | 24M | 24M |
| Metric | |||||
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | 188M | 283M | 426M | 552M | 585M |
| Gross Margin | 7.8% | 11.3% | 11.9% | 12.2% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 15M | 32M | 51M | 67M | 0 |
| Op. Margin | 7.8% | 11.3% | 11.9% | 12.2% | 0.0% |
| Net Income | 11M | 25M | 38M | 54M | 58M |
| Net Margin | 6.0% | 8.8% | 9.0% | 9.8% | 10.0% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||
| ROIC | N/A | 26.1% | 13.6% | 11.1% | 0.0% |
| ROE | N/A | 13.0% | 13.6% | 13.1% | 12.7% |
| ROA | N/A | 4.9% | 2.9% | 2.7% | 2.4% |
| Cash Flow | |||||
| Op. Cash Flow | 182M | 236M | 294M | 332M | 349M |
| Free Cash Flow | 178M | 232M | 291M | 326M | 344M |
| Owner Earnings | 181M | 233M | 286M | 323M | 339M |
| CapEx | 4.0M | 3.8M | 3.1M | 5.6M | 5.6M |
| Maint. CapEx | 727K | 2.3M | 3.9M | 1.8M | 2.0M |
| Growth CapEx | 3.2M | 1.6M | 0 | 3.8M | 3.6M |
| D&A | 727K | 2.3M | 3.9M | 1.8M | 2.0M |
| CapEx/OCF | N/A | N/A | 1.1% | 1.7% | 1.6% |
| Capital Allocation | |||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 368K | 683K | 4.1M | 7.2M | 8.3M |
| Debt Repayment | 0 | 0 | 0 | 44K | 44K |
| Balance Sheet | |||||
| Net Debt | N/A | N/A | -107M | -47M | 44M |
| Cash & Equiv. | 65M | 118M | 97M | 194M | 102M |
| Long-Term Debt | N/A | N/A | 0 | 146M | 147M |
| Debt/Equity | N/A | 4.35 | 0.00 | 0.33 | 0.32 |
| Interest Coverage | N/A | N/A | 69.7 | 33.4 | 33.4 |
| Equity | 0 | 192M | 370M | 448M | 458M |
| Total Assets | N/A | 1.0B | 1.7B | 2.4B | 2.5B |
| Total Liabilities | 2.3M | 836M | 1.3B | 1.9B | 2.0B |
| Intangibles | 0 | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | 25M | 63M | 117M | 133M |
| Working Capital | 0 | N/A | N/A | N/A | N/A |
| Current Assets | 0 | N/A | N/A | N/A | N/A |
| Current Liabilities | 0 | N/A | N/A | N/A | N/A |
| Per Share Data | |||||
| EPS | 0.47 | 1.04 | 1.29 | 1.59 | 1.78 |
| Owner EPS | 7.54 | 9.69 | 9.66 | 9.54 | 10.32 |
| Book Value | 0.00 | 7.98 | 12.49 | 13.25 | 13.94 |
| Cash Flow/Share | 7.58 | 9.81 | 9.93 | 9.80 | 1.84 |
| Dividends/Share | 0.00 | N/A | N/A | N/A | 0.00 |
| Shares Out. | 23.9M | 24.1M | 29.6M | 33.8M | 32.8M |
| Valuation | |||||
| P/E Ratio | N/A | N/A | 26.7 | 17.9 | 17.5 |
| P/FCF | N/A | N/A | 3.5 | 3.0 | 3.0 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | 2.8 | 2.2 | 2.2 |
| Price/Sales | N/A | N/A | 2.1 | 2.0 | 1.7 |
| FCF Yield | N/A | N/A | 28.5% | 33.8% | 33.6% |
| Market Cap | 0 | N/A | 1.0B | 964M | 1.0B |
| Avg. Price | 0.00 | N/A | 29.56 | 32.55 | 31.11 |
| Year-End Price | 0.00 | N/A | 34.48 | 28.51 | 31.11 |
Bowhead Specialty Holdings Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Bowhead Specialty Holdings Inc. trades at 19.6x trailing earnings, compared to its 15-year median P/E of 22.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 3.2x vs a median of 3.2x. The company's 5-year average ROIC is 16.9% with a gross margin of 10.8%. At current prices, the estimated annualized return to fair value is -0.3%.
Bowhead Specialty Holdings Inc. (BOW) has a net profit margin of 9.8%. This is a modest margin.
Bowhead Specialty Holdings Inc. (BOW) generated $326 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Bowhead Specialty Holdings Inc. (BOW) has a debt-to-equity ratio of 0.33. This indicates a conservatively financed balance sheet.
Bowhead Specialty Holdings Inc. (BOW) reported earnings per share (EPS) of $1.59 in its most recent fiscal year.
Bowhead Specialty Holdings Inc. (BOW) has a return on equity (ROE) of 13.1%. This indicates moderate shareholder returns.
Bowhead Specialty Holdings Inc. (BOW) has a 5-year average gross margin of 10.8%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 4 years of financial data for Bowhead Specialty Holdings Inc. (BOW), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Bowhead Specialty Holdings Inc. (BOW) has a book value per share of $13.25, based on its most recent annual SEC filing.
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