BOW - Bowhead Specialty Holdings Inc.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$29.00
DETAILS
HIGH:
$30.00
LOW:
$28.00
MEDIAN:
$29.00
CONSENSUS:
$29.00
DOWNSIDE:
10.22%
| Metric | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||
| Revenue | 154.8 | 151.7 | 143.9 | 133.2 | 122.8 | 119.3 | 116.7 | 98.9 | 90.6 | 82.8 | 76.1 | 65.4 | 59.1 |
| Cost of Revenue | 91.5 | 104.3 | 97.1 | 89.9 | 83.2 | 76.1 | 77.0 | 66.6 | 60.8 | 58.4 | 48.4 | 42.4 | 38.0 |
| Gross Profit | 63.3 | 47.4 | 46.8 | 43.2 | 39.5 | 43.3 | 39.7 | 32.3 | 29.8 | 24.4 | 27.6 | 23.1 | 21.0 |
| Operating Expenses | |||||||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Expenses | 42.8 | 29.6 | 27.7 | 27.3 | 25.1 | 25.0 | 23.9 | 24.9 | 20.7 | 18.6 | 16.4 | 14.6 | 14.5 |
| Operating Expenses | 42.8 | 29.6 | 27.7 | 27.3 | 25.1 | 25.0 | 23.9 | 24.9 | 20.7 | 18.6 | 16.4 | 14.6 | 14.5 |
| Operating Income | |||||||||||||
| Operating Income | 20.6 | 17.8 | 19.1 | 15.9 | 14.5 | 18.2 | 15.8 | 7.4 | 9.1 | 5.8 | 11.3 | 8.5 | 6.6 |
| Interest Expense | 0 | 1.2 | 0.3 | 0.3 | 0.2 | 0.2 | 0.3 | 0.2 | 0.0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profitability | |||||||||||||
| EBITDA | 24.4 | 19.6 | 19.8 | 16.5 | 15.1 | 19.6 | 17.1 | 8.6 | 9.8 | 6.6 | 12.0 | 8.8 | 6.9 |
| EBIT | 23.7 | 19.0 | 19.4 | 16.2 | 14.7 | 18.5 | 16.1 | 7.6 | 9.1 | 5.8 | 11.3 | 8.5 | 6.6 |
| Income Before Tax | 20.6 | 17.8 | 19.1 | 15.9 | 14.5 | 18.2 | 15.8 | 7.4 | 9.1 | 5.8 | 11.3 | 8.5 | 6.6 |
| Income Tax Expense | 4.6 | 3.0 | 3.9 | 3.6 | 3.0 | 4.6 | 3.7 | 1.9 | 2.0 | 1.0 | 2.6 | 1.9 | 1.6 |
| Net Income | 16.0 | 14.8 | 15.2 | 12.3 | 11.4 | 13.6 | 12.1 | 5.5 | 7.0 | 4.8 | 8.7 | 6.6 | 5 |
| Per Share Data | |||||||||||||
| EPS (Basic) | 0.49 | 0.45 | 0.46 | 0.38 | 0.35 | 0.42 | 0.37 | 0.20 | 0.22 | 0.15 | 0.28 | 0.21 | 0.16 |
| EPS (Diluted) | 0.48 | 0.44 | 0.45 | 0.36 | 0.34 | 0.41 | 0.36 | 0.20 | 0.22 | 0.15 | 0.28 | 0.21 | 0.16 |
| Shares Outstanding | 32.8 | 32.8 | 32.8 | 32.7 | 32.7 | 32.7 | 32.7 | 27.6 | 31.5 | 31.5 | 31.5 | 31.5 | 31.5 |
| Metric | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||||
| Cash & Cash Equivalents | 97.2 | 193.5 | 250.8 | 166.3 | 88.0 | 97.5 | 161.7 | 180.3 | 73.5 | 118.1 | 0 |
| Short-Term Investments | 795.9 | 772.2 | 1,149.6 | 1,113.1 | 574.6 | 890.0 | 891.3 | 442.1 | 645.1 | 563.4 | 0 |
| Net Receivables | 530.6 | 498.1 | 430.3 | 410.1 | 366.4 | 319.3 | 272.0 | 262.8 | 211.0 | 39.9 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 44.3 | 40.2 | (430.3) | (410.1) | 35.4 | (357.3) | (272.0) | (1,019.3) | (916.0) | (39.9) | 0 |
| Total Current Assets | 1,660.1 | 1,695.9 | 1,400.4 | 1,279.4 | 1,216 | 1,102.0 | 1,053.0 | 268.3 | 133.0 | 118.1 | 0 |
| Non-Current Assets | |||||||||||
| Property, Plant & Equipment | 11.3 | 10.6 | 9.7 | 8.9 | 7.7 | 6.8 | 7.4 | 7.5 | 7.7 | 7.6 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (288.4) | 0 |
| Intangible Assets | 40.0 | 35.3 | 33.5 | 32.2 | 28.2 | 27.6 | 26.5 | 24.6 | 20.9 | 19.4 | 0 |
| Long-Term Investments | 729.5 | 598.8 | 0 | 0 | 470.3 | 0 | 10.0 | 718.9 | 645.1 | 0 | 0 |
| Other Non-Current Assets | 10.6 | 8.3 | (33.5) | (32.2) | 11.6 | (7.3) | (36.5) | 644.2 | 440.8 | 596.1 | 0 |
| Total Non-Current Assets | 819.1 | 675.5 | 28.8 | 28.4 | 537.1 | 27.2 | 23.7 | 1,395.2 | 1,114.5 | 348.9 | 0 |
| Total Assets | 2,479.3 | 2,371.4 | 2,094.5 | 1,942.2 | 1,753.1 | 1,654.2 | 1,547.7 | 1,395.2 | 1,114.5 | 1,027.9 | 0 |
| Current Liabilities | |||||||||||
| Account Payables | 59.1 | 65.8 | 67.9 | 62.6 | 42.8 | 51.9 | 54.2 | 45.8 | 33.6 | 40.4 | 0 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 1.5 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 556.4 | 552.6 | 0 | 0 | 452.8 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1,220.8 | 1,129.9 | (67.9) | (73.1) | 845.2 | (71.4) | (54.2) | (57.1) | (42.6) | 309.8 | 0 |
| Total Current Liabilities | 1,853.6 | 1,767.7 | 0.1 | 0.1 | 1,352.3 | 1.6 | 14.7 | 0 | 0 | 365.2 | 0 |
| Non-Current Liabilities | |||||||||||
| Long-Term Debt | 146.5 | 146.4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 6.9 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 20.0 | 8.0 | 1,663.4 | 1,534.2 | 9.4 | 873.4 | 1,168.1 | 729.2 | 630.6 | 835.8 | (83.4) |
| Total Non-Current Liabilities | 166.5 | 154.4 | 1,663.4 | 1,534.2 | 9.4 | 883.1 | 1,168.1 | 729.2 | 630.6 | 835.8 | (83.4) |
| Total Liabilities | 2,020.1 | 1,922.1 | 1,663.5 | 1,534.3 | 1,361.7 | 1,283.8 | 1,182.8 | 1,055.3 | 913.3 | 835.8 | (83.4) |
| Stockholders' Equity | |||||||||||
| Common Stock | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.2 | 0.2 | 0 |
| Retained Earnings | 132.7 | 116.7 | 101.9 | 86.7 | 74.3 | 62.9 | 49.3 | 37.2 | 31.7 | 24.7 | 0 |
| Accumulated Other Comprehensive Income | (3.1) | 5.4 | 4.7 | (0.5) | (3.7) | (11.2) | (1.3) | (12.3) | (12.3) | (11.4) | 83.4 |
| Total Stockholders' Equity | 459.2 | 449.3 | 430.2 | 407.2 | 391.4 | 370.4 | 364.8 | 339.9 | 201.2 | 192.1 | 83.4 |
| Total Liabilities & Equity | 2,479.3 | 2,371.4 | 2,094.5 | 1,942.2 | 1,753.1 | 1,654.2 | 1,547.7 | 1,395.2 | 1,114.5 | 1,027.9 | 0 |
| Debt Metrics | |||||||||||
| Total Debt | 146.5 | 146.4 | 0 | 0 | 0 | 4.3 | 0 | 0 | 0 | 0 | 0 |
| Net Debt | 49.3 | (47.1) | (250.8) | (166.3) | (88.0) | (93.2) | (161.7) | (180.3) | (73.5) | (118.1) | 0 |
| Metric | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||
| Net Income | 16.0 | 14.8 | 15.2 | 12.3 | 11.4 | 13.6 | 12.1 | 5.5 | 7.0 | 4.8 | 8.7 | 6.6 | 5 |
| Depreciation & Amortization | 0.6 | 0.1 | 0.5 | 0.4 | 0.4 | 1.1 | 1.0 | 1.0 | 0.8 | 0.8 | 0.8 | 0.4 | 0.3 |
| Stock-Based Compensation | 2.4 | (2.7) | 2.0 | 0.1 | 1.3 | 1.0 | 1.0 | 1.8 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 |
| Change in Working Capital | 48.5 | 34.9 | 97.2 | 96.4 | 34.9 | 46.6 | 107.1 | 65.1 | 36.0 | 57.5 | 80.7 | 45.3 | 31.3 |
| Other Non-Cash Items | 1.0 | 8.9 | 0.9 | 0.8 | 0.7 | 0.5 | 0.3 | (0.5) | (0.9) | (0.9) | (0.6) | (0.4) | (0.4) |
| Operating Cash Flow | 65.5 | 58.3 | 114.7 | 109.0 | 47.7 | 61.4 | 119.4 | 71.5 | 41.9 | 61.4 | 88.3 | 51.3 | 35.3 |
| Investing Activities | |||||||||||||
| Capital Expenditure | (1.3) | (1.5) | (1.3) | (1.6) | (1.2) | (0.5) | (1.0) | (0.8) | (0.8) | (0.9) | (1.1) | (0.8) | (1.0) |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchases of Investments | (242.3) | (257.1) | (155.4) | 250.5 | (250.5) | (144.6) | (238.6) | (136.1) | (93.7) | (128.0) | (61.6) | (75.2) | (102.5) |
| Sales/Maturities of Investments | 86.7 | 105.4 | 126.5 | (105.4) | 105.4 | 144.0 | 83.1 | 47.8 | 15.3 | 28.2 | 3.9 | 40.7 | 23.6 |
| Other Investing Activities | 0 | (74.1) | 0 | (209.7) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investing Cash Flow | (156.9) | (221.7) | (30.2) | (66.2) | (146.3) | (1.1) | (156.6) | (89.1) | (79.1) | (100.8) | (58.8) | (35.4) | (79.9) |
| Financing Activities | |||||||||||||
| Net Debt Issuance | 0 | 146.4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 77.7 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (0.8) | (0.0) | 0 | 0 | 0 | 0.1 | 0 | 0 | 0 | (77.7) | 0 | 0 | 0 |
| Financing Cash Flow | (0.8) | 146.4 | 0 | 0 | 0 | 0.1 | 0 | 131.0 | 2.8 | 24.6 | 22.1 | 13 | 18 |
| Cash Position | |||||||||||||
| Net Change in Cash | (92.2) | (17.0) | 84.5 | 42.8 | (98.6) | 60.3 | (37.1) | 113.4 | (34.4) | (14.8) | 51.5 | 28.9 | (26.5) |
| Cash at Beginning | 233.8 | 250.8 | 166.3 | 123.5 | 222.1 | 161.7 | 198.8 | 85.4 | 119.8 | 134.6 | 83.0 | 54.1 | 80.7 |
| Cash at End | 141.5 | 233.8 | 250.8 | 166.3 | 123.5 | 222.1 | 161.7 | 198.8 | 85.4 | 119.8 | 134.6 | 83.0 | 54.1 |
| Free Cash Flow | 64.2 | 56.8 | 113.5 | 107.4 | 46.5 | 60.9 | 118.4 | 70.7 | 41.1 | 60.5 | 87.2 | 50.5 | 34.3 |
| Key Metrics | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 154.8 | 151.7 | 143.9 | 133.2 | 122.8 | 119.3 | 116.7 | 98.9 | 90.6 | 82.8 | 76.1 | 65.4 | 59.1 |
| Gross Profit | 63.3 | 47.4 | 46.8 | 43.2 | 39.5 | 43.3 | 39.7 | 32.3 | 29.8 | 24.4 | 27.6 | 23.1 | 21.0 |
| Operating Income | 20.6 | 17.8 | 19.1 | 15.9 | 14.5 | 18.2 | 15.8 | 7.4 | 9.1 | 5.8 | 11.3 | 8.5 | 6.6 |
| Net Income | 16.0 | 14.8 | 15.2 | 12.3 | 11.4 | 13.6 | 12.1 | 5.5 | 7.0 | 4.8 | 8.7 | 6.6 | 5 |
| EPS (Diluted) | 0.48 | 0.44 | 0.45 | 0.36 | 0.34 | 0.41 | 0.36 | 0.20 | 0.22 | 0.15 | 0.28 | 0.21 | 0.16 |
| Balance Sheet | |||||||||||||
| Cash & Equivalents | 97.2 | 193.5 | 250.8 | 166.3 | 88.0 | 97.5 | 161.7 | 180.3 | 73.5 | 118.1 | 0 | ||
| Total Assets | 2,479.3 | 2,371.4 | 2,094.5 | 1,942.2 | 1,753.1 | 1,654.2 | 1,547.7 | 1,395.2 | 1,114.5 | 1,027.9 | 0 | ||
| Total Debt | 146.5 | 146.4 | 0 | 0 | 0 | 4.3 | 0 | 0 | 0 | 0 | 0 | ||
| Stockholders' Equity | 459.2 | 449.3 | 430.2 | 407.2 | 391.4 | 370.4 | 364.8 | 339.9 | 201.2 | 192.1 | 83.4 | ||
| Cash Flow | |||||||||||||
| Operating Cash Flow | 65.5 | 58.3 | 114.7 | 109.0 | 47.7 | 61.4 | 119.4 | 71.5 | 41.9 | 61.4 | 88.3 | 51.3 | 35.3 |
| Capital Expenditure | (1.3) | (1.5) | (1.3) | (1.6) | (1.2) | (0.5) | (1.0) | (0.8) | (0.8) | (0.9) | (1.1) | (0.8) | (1.0) |
| Free Cash Flow | 64.2 | 56.8 | 113.5 | 107.4 | 46.5 | 60.9 | 118.4 | 70.7 | 41.1 | 60.5 | 87.2 | 50.5 | 34.3 |