Bowhead Specialty Holdings (BOW) Q4 FY2024 earnings: revenue $119 million

Bowhead Specialty Holdings Inc. (BOW) reported revenue of $119 million for Q4 FY2024, the quarter ended 31 December 2024. Net income was $14 million, and diluted earnings per share $0.41. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.

Revenue$119 million

Net income$14 million

Diluted EPS$0.41

QuarterQ4 FY2024ended 31 December 2024

The quarter, against the one before and a year earlier

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Revenue	119	117	n/a	n/a
Operating income	18.2	15.8	n/a	n/a
Operating margin	15.3%	13.5%	n/a
Interest expense	0.2	0.3	n/a	n/a
Pre-tax income	18.2	15.8	n/a	n/a
Income tax	4.6	3.7	n/a	n/a
Effective tax rate	25.4%	23.6%	n/a
Net income	13.6	12.1	n/a	n/a
Net margin	11.4%	10.4%	n/a
Diluted EPS	$0.41	$0.36	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Operating cash flow	61.4	119	n/a	n/a
Capital expenditure	0.5	1.0	n/a	n/a
Free cash flow	60.9	118	n/a	n/a
Free cash flow margin	51.0%	101.4%	n/a
Cash from investing	-1.1	-157	n/a	n/a
Cash from financing	0.1	0.0	n/a	n/a
Depreciation and amortisation	1.1	1.0	n/a	n/a
Share-based compensation	1.0	1.0	n/a	n/a
Diluted shares, weighted	30m	33m	n/a	n/a
Shares outstanding at period end	33m	33m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Shareholders' equity	370	365	n/a	n/a
Redeemable equity	0.3	0.2	n/a	n/a
Debt	0.0	n/a	n/a	n/a
Other liabilities	1,284	1,183	n/a	n/a
Total liabilities and equity	1,654	1,548	n/a	n/a
Fixed assets	6.8	7.4	n/a	n/a
Securities held for sale or to maturity	880	891	n/a	n/a
Cash and equivalents	97.5	133	n/a	n/a
Other assets	670	516	n/a	n/a
Total assets	1,654	1,548	n/a	n/a

Questions

What was Bowhead Specialty Holdings' revenue in Q4 FY2024?

Bowhead Specialty Holdings (BOW) reported revenue of $119 million for Q4 FY2024, the quarter ended 31 December 2024.

How much did Bowhead Specialty Holdings earn in Q4 FY2024?

Net income for Q4 FY2024 was $14 million, and diluted earnings per share $0.41.

When did Bowhead Specialty Holdings report Q4 FY2024 results?

Bowhead Specialty Holdings filed its 10-K for the year that ended with the quarter on 27 February 2025; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q2 FY2023	Q3 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	65.5	76.1	90.7	98.9	117	119	123	133	144	152	156	164
Operating income	8.5	11.3	9.1	7.4	15.8	18.2	14.5	15.9	19.1	17.8	20.6	20.7
Operating margin	13%	15%	10%	7%	14%	15%	12%	12%	13%	12%	13%	13%
Interest expense	0.0	0.0	0.0	0.2	0.3	0.2	0.2	0.3	0.3	1.2	3.2	3.3
Pre-tax income	8.5	11.3	9.1	7.4	15.8	18.2	14.5	15.9	19.1	17.8	20.6	20.7
Tax rate	23%	23%	23%	25%	24%	25%	21%	22%	21%	17%	22%	22%
Net income	6.6	8.7	7.0	5.5	12.1	13.6	11.4	12.3	15.2	14.8	16.0	16.1
Net margin	10%	11%	8%	6%	10%	11%	9%	9%	11%	10%	10%	10%
Diluted EPS	$0.27	$0.36	$0.29	$0.20	$0.36	$0.41	$0.34	$0.36	$0.45	$0.44	$0.48	$0.48
Operating cash flow	n/a	88.3	41.9	71.5	119	61.4	47.7	109	115	60.1	65.5	93.9
Capital expenditure	n/a	1.1	0.8	0.8	1.0	0.5	1.2	1.6	1.3	1.5	1.3	1.4
Free cash flow	n/a	87.2	41.1	70.7	118	60.9	46.5	107	113	58.6	64.2	92.5
Shares outstanding	33m	33m	33m	33m	33m	33m	33m	33m	33m	33m	33m	33m
Filing	10-Q	10-Q	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2024, filed 27 February 2025: the filing.