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Skyward Specialty Insurance Group, Inc. (SKWD)

NASDAQ / Financial Services / Insurance - Property & Casualty

Share price

60.18 USD Market dataClose of Oct 15, 2026

Market capitalisation

2.67B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Mar 2, 2026
Ratios computed
Oct 15, 2026
Filed years
5, FY2021 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on equity

16.8% Computed

From the FY2025 filing

Read quality

Financial strength

Debt to equity

n/a Computed

From the FY2025 filing

Why n/a

The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.

Read financial strength

Valuation

Price to earnings

14.29x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

n/m Computed

FY2025 accounts, priced at the latest close

Why n/m

For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.

Read cash generation

Revenue and net income, by fiscal year

FY2012 Revenue: 98.4M USDFY2012 Net income: -1.2M USDFY2013 Revenue: 218.2M USDFY2013 Net income: 10.9M USDFY2020 Revenue: 447.9M USDFY2020 Net income: -74.6M USDFY2021 Revenue: 550.2M USDFY2021 Net income: 38.3M USDFY2022 Revenue: 642.4M USDFY2022 Net income: 39.4M USDFY2023 Revenue: 886.0M USDFY2023 Net income: 86.0M USDFY2024 Revenue: 1.15B USDFY2024 Net income: 118.8M USDFY2025 Revenue: 1.42B USDFY2025 Net income: 170.0M USD
Revenue Net income8 fiscal years; a year whose statement names no SEC filing is market data, and the table in Filings says which.
Named tests met
0 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 14.29x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 10.00x and 15.00x.

Today, against the Insurance - Property & Casualty industry (37 companies), 14.29x sits at the 75th percentile; the middle half of that group runs from 7.99x to 14.29x.

Is it good

Return on equity was 16.8% in FY2025, in the band labelled "Strong" (15.0% to 25.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting high returns on shareholders' money, which leverage can also produce.

Today, against the Insurance - Property & Casualty industry (40 companies), 16.8% sits at the 51st percentile; the middle half of that group runs from 11.3% to 26.5%.

Year by year against peers
Whether Skyward Specialty Insurance Group, Inc.'s return on equity stayed above the median of the Insurance - Property & Casualty industry, year by year. (FY2024 to FY2025, 2 fiscal years of Skyward Specialty Insurance Group, Inc. with a comparable figure)
The direction
Which way Skyward Specialty Insurance Group, Inc.'s return on equity has moved, and how steadily. (FY2013 to FY2025, 7 filed years of Skyward Specialty Insurance Group, Inc.)
What could explain it
What in Skyward Specialty Insurance Group, Inc.'s filed statements could explain the movements. (3 readings drawn from the statement lines Skyward Specialty Insurance Group, Inc. filed)
What to check next
What to check next on Skyward Specialty Insurance Group, Inc., and where in its filings. (1 question for Skyward Specialty Insurance Group, Inc.)
In one paragraph
One paragraph on Skyward Specialty Insurance Group, Inc.'s returns, cash, balance sheet and price. (4 of sixteen figures read for Skyward Specialty Insurance Group, Inc.)

These are SKWD’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research SKWDPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Mar 2, 2026, accession 0001519449-26-000015.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Skyward Specialty Insurance Group, Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax
Why n/m

Invested capital is equity plus debt less cash. A financial company's debt and cash are operating positions, so returns measured against that base are not comparable to an operating business.

n/m ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Return on equity16.8% ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Return on capital employed, pre-tax
Why n/m

Invested capital is equity plus debt less cash. A financial company's debt and cash are operating positions, so returns measured against that base are not comparable to an operating business.

n/m ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Return on assets3.5% ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Gross margin
Why n/a

No gross profit line is filed for this year.

n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Operating margin
Why n/a

No operating income line is filed for this year.

n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Net margin12.0% ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
SKWD 12.0%
PLMR 22.5%LMND -22.4%HCI 33.2%HGTY 10.2%WTM 29.6%
-22.4%33.2%
Net margin: SKWD against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Skyward Specialty Insurance Group, Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity
Why n/a

The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.

n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Current ratio
Why n/m

Banks and insurers present an unclassified balance sheet under Regulation S-X, with no split between current and non-current. A current ratio needs that split, so there is none to show.

n/m ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Quick ratio
Why n/m

Banks and insurers present an unclassified balance sheet under Regulation S-X, with no split between current and non-current. A current ratio needs that split, so there is none to show.

n/m ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Interest coverage
Why n/a

No operating income line is filed for this year.

n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Altman Z-score
Why n/m

Altman's Z-Score was estimated on manufacturers and explicitly excludes financial firms. A financial company scores in the distress zone by construction, so the number would be wrong rather than alarming. Not applicable to financials.

n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Net debt
Why n/a

The FY2025 balance sheet carries no net debt we could read.

n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Total assets 4.79BTotal liabilities 3.78BShareholders' equity 1.01BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Skyward Specialty Insurance Group, Inc owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Mar 2, 2026, 0001519449-26-000015).

Skyward Specialty Insurance Group, Inc: balance sheet position
Total assets4.79B FiledFY2025 10-K, filed Mar 2, 2026
Total liabilities3.78B FiledFY2025 10-K, filed Mar 2, 2026
Shareholders' equity1.01B FiledFY2025 10-K, filed Mar 2, 2026
Cash168.5M FiledFY2025 10-K, filed Mar 2, 2026
Total debtn/a FiledFY2025 10-K, filed Mar 2, 2026
Net debtn/a
Current ration/m
Debt to equityn/a
  • Debt to equity: FY2025: The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.
  • Current ratio: FY2025: Banks and insurers present an unclassified balance sheet under Regulation S-X, with no split between current and non-current. A current ratio needs that split, so there is none to show.
  • Interest cover: FY2025: No operating income line is filed for this year.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Skyward Specialty Insurance Group, Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings14.29x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
P/E on trailing twelve months13.96x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book2.49x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Price to sales1.78x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Enterprise value to EBIT
Why n/m

Enterprise value adds debt and subtracts cash. For a financial company both are the business itself, so the resulting multiple has no economic meaning.

n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Enterprise value to EBITDA
Why n/m

Enterprise value adds debt and subtracts cash. For a financial company both are the business itself, so the resulting multiple has no economic meaning.

n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Diluted earnings per share4.07 USD FiledFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Graham number47.83 USD ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015

We publish no fair value or price target of our own. Value SKWD on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Skyward Specialty Insurance Group, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Skyward Specialty Insurance Group, Inc: valuation
Share price60.18 USD
Market capitalisation2.67B USD
Enterprise value to EBITDAn/m
Graham number47.83 USD
Diluted earnings per share, FY20254.07 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Aug 10, 2023: low 10.14x, median 15.43x, high 34.32x, latest 13.96x. 796 trading days with a meaningful ratio. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Skyward Specialty Insurance Group, Inc

  1. Palomar Holdings, Inc. (PLMR)Market cap 3.65B USD
  2. Lemonade, Inc. (LMND)Market cap 3.55B USD
  3. HCI Group, Inc. (HCI)Market cap 2.44B USD
  4. Hagerty, Inc. (HGTY)Market cap 5.26B USD
  5. White Mountains Insurance Group, Ltd. (WTM)Market cap 5.13B USD

Same industry (Insurance - Property & Casualty) and size band (Mid, 2B to 10B), nearest in market value and net margin. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Skyward Specialty Insurance Group, Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield
Why n/m

For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.

n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Free cash flow402.6M USD ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Free cash flow margin
Why n/m

For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.

n/m ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
FY2012 Net income: -1.2M USDFY2013 Net income: 10.9M USDFY2020 Free cash flow: 42.6M USDFY2020 Net income: -74.6M USDFY2021 Free cash flow: 173.1M USDFY2021 Net income: 38.3M USDFY2022 Free cash flow: 206.6M USDFY2022 Net income: 39.4M USDFY2023 Free cash flow: 335.1M USDFY2023 Net income: 86.0M USDFY2024 Free cash flow: 300.9M USDFY2024 Net income: 118.8M USDFY2025 Free cash flow: 402.6M USDFY2025 Net income: 170.0M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Skyward Specialty Insurance Group, Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
14.29xFY2025Oct 15, 2026
2.49xFY2025Oct 15, 2026
n/mFY2025Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
n/mFY2025Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
n/mFY2025Mar 2, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
n/aFY2025Oct 15, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
n/aFY2025Mar 2, 2026
n/a The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.
n/mFY2025Mar 2, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
1.78xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a This figure compares a year against the one before it, and we hold one filed year for this company.
n/mFY2025Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
n/mFY2025Mar 2, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
n/mFY2025Mar 2, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 5 filed fiscal years on record, FY2021 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

8 fiscal years, FY2012 to FY2025. 5 read from the annual reports Skyward Specialty Insurance Group, Inc filed with the SEC, each naming its filing; the rest from statements that name none, which are market data. Amounts in USD, as reported.

Skyward Specialty Insurance Group, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20251.42B224.3M170.0M4.07402.6Mn/a16.8%10-K, Mar 2, 20260001519449-26-000015
FY20241.15B162.2M118.8M2.87300.9Mn/a15.0%10-K, Mar 3, 20250001519449-25-000011
FY2023886.0M120.1M86.0M2.24335.1Mn/a13.0%10-K, Apr 1, 20240001519449-24-000012
FY2022642.4M56.2M39.4M1.21206.6Mn/a9.3%10-K, Mar 28, 20230001519449-23-000008
FY2021550.2M52.9M38.3M1.18173.1Mn/a9.0%10-K, Mar 28, 20230001519449-23-000008
FY2020447.9M-94.5M-74.6M-2.1442.6M-21.1%-98.5%Market data, supplied Oct 15, 2026accession n/a
FY2013218.2M21.0M10.9M0.29n/a9.6%5.5%Market data, supplied Oct 15, 2026accession n/a
FY201298.4M523.0K-1.2M-0.03n/a0.5%n/aMarket data, supplied Oct 15, 2026accession n/a
  • Revenue, compound annual growth FY2012 to FY2025: 22.8%
  • Earnings: Earnings was not positive in both 2012 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings per share: Earnings per share was not positive in both 2012 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Free cash flow, compound annual growth FY2020 to FY2025: 56.7%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Skyward Specialty Insurance Group, Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score
Why n/m

The Beneish M-Score is built on gross margin, receivables and asset quality indices estimated on non-financial firms. Those inputs are not defined here.

n/m ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Piotroski F-score
Why n/m

4 of the nine Piotroski signals are undefined for an insurer: signal 5 (falling long-term leverage), signal 6 (rising current ratio), signal 8 (rising gross margin), signal 9 (rising asset turnover). We do not publish a partial score under the full score's name.

n/m ComputedFY2025 10-K, filed Mar 2, 2026, 0001519449-26-000015
Named tests met0 of 30 Computed
Beta0.55 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 0 met, 15 not met, 15 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
None of the named tests.
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; High F-score, low P/B (Joseph Piotroski); Dividends and buybacks; Near the 52-week low; P/E times P/B (Benjamin Graham); High returns, low debt; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
Earnings yield and ROIC (Joel Greenblatt); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Low beta, profitable; ROIC at or above WACC; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); Owner earnings yield; Cash-covered dividend; Cash-flow yield and ROIC; Clean books, high ROIC. A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(22)
  • Current Ratio: Banks and insurers present an unclassified balance sheet under Regulation S-X, with no split between current and non-current. A current ratio needs that split, so there is none to show.
  • Debt to Equity: The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.
  • Piotroski F-Score: 4 of the nine Piotroski signals are undefined for an insurer: signal 5 (falling long-term leverage), signal 6 (rising current ratio), signal 8 (rising gross margin), signal 9 (rising asset turnover). We do not publish a partial score under the full score's name.
  • EV/EBIT: Enterprise value adds debt and subtracts cash. For a financial company both are the business itself, so the resulting multiple has no economic meaning.
  • Return on Invested Capital: Invested capital is equity plus debt less cash. A financial company's debt and cash are operating positions, so returns measured against that base are not comparable to an operating business.
  • Altman Z-Score: Altman's Z-Score was estimated on manufacturers and explicitly excludes financial firms. A financial company scores in the distress zone by construction, so the number would be wrong rather than alarming. Not applicable to financials.
  • Beneish M-Score: The Beneish M-Score is built on gross margin, receivables and asset quality indices estimated on non-financial firms. Those inputs are not defined here.
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • Gross Margin: No gross profit line is filed for this year.
  • Asset Turnover: A lender's assets are loans and securities that earn interest, not plant used to produce sales. Revenue over assets is not a turnover measure here.
  • EV/EBITDA: Enterprise value adds debt and subtracts cash. For a financial company both are the business itself, so the resulting multiple has no economic meaning.
  • Interest Coverage: No operating income line is filed for this year.
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Free Cash Flow Yield: For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.
  • ROIC-WACC Spread: Invested capital is equity plus debt less cash. A financial company's debt and cash are operating positions, so returns measured against that base are not comparable to an operating business.
  • Price To Ncav: Net current asset value needs current assets, which an unclassified balance sheet does not report.
  • Owner Earnings Yield: For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.
  • Capex To Ocf: For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.
  • Dividend Coverage Ratio: For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 22 figures could not be read on this company, among them Current Ratio, Debt to Equity, Piotroski F-Score. Each blank in the table above names the rest, with its reason. 15 named tests come back incomplete because of them, which is neither met nor missed.
  • We hold 5 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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ValueScreener

Discover companies, research each one to its filings, track what matters, and take your work into your own spreadsheet.

ValueScreener is a trading name of Oliva Real Estate Technologies LLC, a Delaware limited liability company. Legal notices: legal@valuescreener.ai. © 2026 Oliva Real Estate Technologies LLC. All rights reserved.

Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.

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