Bowhead Specialty Holdings Inc.

BOW

$33.64

-0.03%

2026-09-03 16:00:02 EDT-$0.01

Financial Services

Insurance - Property & Casualty

NYSE

Active Trading

Operating across the United States, Bowhead Specialty Holdings Inc. delivers a range of specialized property and casualty insurance products. The company, established ...

Price Action of BOW

$33.64

-0.03%-$0.01

High—

Low—

52W High-4.1%

Rel. vol—

Interval

Range6.2h

Volume—SMA5SMA10

—

Bowhead Specialty Holdings Inc. (BOW) is a specialty lines insurance organization that provides a range of property and casualty insurance products across the United States. Established in 2020 and headquartered in New York City, the company focuses on three primary segments: casualty insurance for industries such as construction, distribution, heavy ...Bowhead Specialty Holdings Inc. (BOW) is a specialty lines insurance organization that provides a range of property and casualty insurance products across the United States. Established in 2020 and headquartered in New York City, the company focuses on three primary segments: casualty insurance for industries such as construction, distribution, heavy manufacturing, real estate, and hospitality; professional liability coverage for financial institutions, directors and officers, errors and omissions, and cyber-related exposures; and healthcare-specific solutions for hospitals, senior care providers, managed care organizations, and various medical facilities. The company distributes its products through a network of wholesale and retail partners. Bowhead was formerly known as Bowhead Holdings Inc. and changed its name in March 2024. It is an affiliate of American Family Mutual Insurance Company, which has announced plans to acquire Bowhead in a $1.2 billion cash deal, expected to close by August 2026. The company is led by founder and CEO Stephen Sills, who has been in his role since September 2020. As of the latest data, Bowhead employs 296 full-time staff and has a market capitalization of approximately $1.098 billion. The company's financial metrics indicate a price-to-earnings ratio of 17.7, a return on equity of 13.7%, and a net profit margin of 10.1%. Bowhead has demonstrated strong cash flow generation, with operating cash flow per share of $10.11 and free cash flow per share of $9.94. The company maintains a very high current ratio and no debt, reflecting a solid balance sheet. Its products are designed to meet specialized risk management needs, and the company's team consists of experienced industry veterans. Bowhead's growth has been steady since its founding, and it continues to expand its offerings and market presence.ExpandCollapse

Founded

2020

Employees

296

CEO

Stephen Jay Sills

Full Name

Bowhead Specialty Holdings Inc.

Sector

Financial Services

Industry

Insurance - Property & Casualty

ROE

13.73%

Market Cap

$1.10B

Current Ratio

5573.37

WACC

5.26%

ROIC

3.89%

Contact Information

https://bowheadspecialty.com

(212) 970-0269

452 Fifth Avenue, New York City, NY 10018

Key Metrics of BOW

Snapshot

Latest / TTM · 5 periods

Market Cap

$1.10B

ROCE

2.9%

EV / EBITDA

10.50x

-8.2% YoY

FCF Yield

29.6%

-5.3% YoY

Cash Conversion Cycle

0.0d

Current Ratio

5573.37

Quick take

TTM —

No major risk flags in selected headline metrics.

Financial Highlights of BOW

Profitability trend

Latest / TTM · 5 periods

Gross Margin

36.5%

Net Margin

10.1%

P/E Ratio

17.80x

n/a

Debt / Equity

0.00

n/a

Current Ratio

5573.37

Dividend Yield

0.0%

Understanding

TTM —

No major balance sheet stress in these headline ratios.

Calendar of BOW

Upcoming

Sep 30, 2026In 26 days
Q3 FY2026 · Estimated results
Est. EPS $0.51 · Revenue $278.64M · 5 analysts
Dec 30, 2026
Q4 FY2026 · Estimated results
Est. EPS $0.54 · Revenue $266.79M · 5 analysts
Dec 31, 2026
FY2026 · Estimated annual results
Est. EPS $2.00 · Revenue $1.06B · 4 analysts
Mar 30, 2027
Q1 FY2027 · Estimated results
Est. EPS $0.56 · Revenue $256.59M · 3 analysts

Recent history

Aug 3, 2026
Q2 FY2026 · Results reported
EPS $0.48 · Revenue $163.86M
View filing
May 5, 2026
Q1 FY2026 · Results reported
EPS $0.48 · Revenue $154.81M
View filing
Feb 24, 2026
FY2025 · Annual results
EPS $1.59 · Revenue $551.54M
View filing
Nov 4, 2025
Q3 FY2025 · Results reported
EPS $0.45 · Revenue $143.90M
View filing
Aug 5, 2025
Q2 FY2025 · Results reported
EPS $0.36 · Revenue $133.18M
View filing
May 6, 2025
Q1 FY2025 · Results reported
EPS $0.34 · Revenue $122.76M
View filing

Financial Statements of BOW

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$551.5M	+29.6%	+5.8%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$53.8M	+40.6%	+0.8%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+32.1%	-5.9%	-0.2%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	+12.2%	+2.8%	-5.1%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	+9.8%	+8.5%	-4.8%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$326.0M	+12.0%	+44.2%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	+59.1%	-13.6%	+36.2%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	32.6%	+2708.2%	-100.0%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	0.96x	-99.9%	+622182.4%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$2.4B	+43.4%	+8.1%

Actual vs Estimate

A Dec 31Q Jun 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	1.59 vs 1.63	-2.2%	0.48 vs 0.47	+2.5%
Revenue Surprise	$551.5M vs $855.4M	-35.5%	$163.9M vs $278.7M	-41.2%

Insider Transactions of BOW

Acquisitions (A)

Since May 22, 2026

Disposals (D)

Since May 22, 2026

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
May 23, 2027	Botein Matthew	director, 10 percent owner:	Call Option (obligation to sell)	—	788,235	$17.00
May 23, 2027	Gallatin Point Capital LLC	director, 10 percent owner:	Call Option (obligation to sell)	—	788,235	$17.00
May 23, 2027	AMERICAN FAMILY MUTUAL INSURANCE COMPANY, S.I.	director, 10 percent owner, other: See Remarks	Option (right to buy)	—	788,235	$17.00
May 23, 2026	Newman David John	officer: Chief Underwriting Officer	Common Stock	D	2,118	$28.30
May 23, 2026	Mulcahey Brad	officer: CFO and Treasurer	Common Stock	D	1,027	$28.30

Earnings Call Transcript of BOW

1 transcript segments

Q1 2026

Unknown Speaker

Operator: Hello, and welcome to Bowhead Specialty Q1 2026 Earnings Call. [Operator Instructions] Also, as a reminder, this conference is being recorded. If you have any objections, please disconnect at this time. With that, I would like to turn the call over to Shirley Yap, Head of Investor Relations. Shirley, you may begin. Shek Yap: Thanks, Mariana. Good morning, and welcome to Bowhead's First Quarter 2026 Earnings Conference Call. I'm Shirley Yap, Bowhead's Chief Accounting Officer and Head of Investor Relations. Joining me today are Stephen Sills, our Chief Executive Officer; and Brad Mulcahey, our Chief Financial Officer. And as we have done in previous quarters, we have invited a key member of our management team to our earnings calls to share insights from their area of expertise. Today, we are joined by Brandon Mezick, our Head of Digital, who will walk us through Bowhead's Digital Underwriting initiatives, which cover Baleen Specialty and Bowhead Express. Turning to our performance. Earlier this morning, we released our financial results for the first quarter of 2026. You can find our earnings release in the Investor Relations section of our website. And later this evening, you'll also be able to find our Form 10-Q on our website. I'd like to remind everyone that this call contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors should not place undue reliance on any forward-looking statement. These statements are made only as of the date of this call and are based on management's current expectations and beliefs. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by these statements. You should review the risks and uncertainties fully described in our SEC filings. We expressly disclaim any duty to update any forward-looking statement, except as required by law. Additionally, we will be referencing certain non-GAAP financial measures on this call. Reconciliations of these non-GAAP financial measures to their respective most directly comparable GAAP measure can be found in the earnings release we issued this morning and in the Investor Relations section of our website. With that, it's my pleasure to turn the call over to Stephen Sills. Stephen Sills: Thank you, Shirley. Good morning, everyone, and thank you for taking the time to join us today. Bowhead delivered a strong start to 2026 with gross written premiums increasing 24% year-over-year to approximately $217 million. Once again, we delivered disciplined premium growth across all divisions, with casualty driving the largest growth complemented by strong execution in Baleen. Starting with Casualty, GWP increased more than 20% to $147 million in the quarter. We continue to grow in areas where terms and pricing were favorable, while contracting in areas where we saw downward pricing pressure due to an overabundance of supply. This …

Leadership Team of BOW

14 executives

Name	Title	Compensation	Gender	Year Born	Status
Stephen Jay Sills	Founder, President, Chief Executive Officer & Director	USD 1,188,314	Male	1948	Active
David Newman	Chief Underwriting Officer	USD 906,198	Male	1955	Active
Brad Michael Mulcahey	Chief Financial Officer & Treasurer	USD 630,674	Male	1978	Active
Patricia Fitzgerald	Head of Distribution	—	—	—	Active
Dan Gamble	Head of Professional Liability	—	—	—	Active
Chris Butler	Head of Claims	—	Male	—	Active
Shek Li Yap	Chief Accounting Officer & Head of IR	—	Female	—	Active
Joshua Hyman	Head of Human Resources	—	Male	—	Active
Bob Spina	Chief Information Officer	—	Male	—	Active
H. Matthew Crusey	General Counsel & Secretary	—	Male	—	Active
Anna Romano	Head of Marketing	—	—	—	Active
Brandon Mezick	Head of Digital Underwriting	—	—	—	Active
Shirley Yap	Chief Accounting Officer & Head of IR	—	Female	—	Active
Steven Feltner	Chief Operating Officer	—	—	—	Active

Recent News of BOW

GuruFocus8/17/2026Neutral

Are BWMN, DV, BOW, INVE Obtaining Fair Deals for their Shareholders?

Are BWMN, DV, BOW, INVE Obtaining Fair Deals for their Shareholders? PR Newswire NEW YORK, Aug. 17, 2026

GlobeNewsWire8/13/2026Neutral

BOW Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Proposed Sale of Bowhead Specialty Holdings to American Family Mutual Insurance

MONSEY, N.Y., Aug. 13, 2026 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Bowhead Specialty Holdings Inc. (NYSE: BOW) (“Bowhead”) to American Family Mutual Insurance Company for $34.00 per share in cash.

PRNewsWire8/7/2026Neutral

Are BOW, ATKR, SUPN Obtaining Fair Deals for their Shareholders?

/PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws

GuruFocus8/7/2026Neutral

Bowhead Specialty Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Bowhead Specialty Holdings Inc. - BOW

Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of [url="]Kahn Swick and Foti[/url], LLC (âKSFâ) are investigating the propos

Business Wire8/7/2026Neutral

Bowhead Specialty Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Bowhead Specialty Holdings Inc. - BOW

NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Bowhead Specialty Holdings Inc. (NYSE: BOW) to American Family Mutual Insurance Company, S.I. Under the terms of the proposed transaction, shareholders of Bowhead will receive $34.00 in cash for each share of Bowhead that they own. KSF is seeking to determine whether this consideration and the proce.

Historical Employee Count of BOW

Current

296

Change

+18.88%

Minimum

249

Maximum

296

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
Dec 31, 2025	296	10-K	Feb 24, 2026	View
Dec 31, 2024	249	10-K	Feb 27, 2025	View

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Bowhead Specialty Holdings Inc.