Bowhead Specialty Holdings Inc. (BOW) Key Metrics
BOW valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.13B
- Enterprise value
- $1.12B
- P/E (TTM)
- 18.5
- Forward P/E
- 13.8
- PEG ratio
- —
- Price / sales
- 1.8
- Price / book
- 2.4
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- −0.08
BOW key metrics, 2022–2025
Fiscal year ended December 31, 2025 · U.S. dollarsBOW valuation Price multiples at each fiscal year-end price.
BOW returns How much profit the business earns on the capital it uses.
BOW per-share figures Results divided by the shares outstanding at year-end.
BOW financial health Debt, liquidity and how easily interest is covered.
BOW efficiency & capital use Working capital cycle and where the cash goes.
BOW valuation history
BOW returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BOW debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BOW cash returned to shareholders
BOW price vs earnings per share
BOW key metrics
2022–2025| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Valuation | ||||
| Market capitalization | $960.4M | $1.05B | — | — |
| Enterprise value | $141.1M | $71.0M | — | — |
| P/E ratio | 17.9 | 27.6 | — | — |
| Price / sales | 1.7 | 2.5 | — | — |
| Price / book | 2.1 | 2.8 | — | — |
| Price / free cash flow | 2.9 | 3.6 | — | — |
| Price / operating cash flow | 2.9 | 3.6 | — | — |
| EV / sales | 0.3 | 0.2 | — | — |
| EV / EBITDA | 2.0 | 1.3 | — | — |
| EV / free cash flow | 0.4 | 0.2 | — | — |
| Earnings yield | 5.6% | 3.6% | — | — |
| Free cash flow yield | 33.9% | 27.6% | — | — |
| Shareholder yield (dividends + buybacks) | — | 0.0% | — | — |
| Share price at fiscal year-end | $28.54 | $35.52 | — | — |
| Per share | ||||
| Revenue per share | $16.39 | $14.34 | $8.99 | $5.95 |
| Earnings per share | $1.60 | $1.29 | $0.79 | $0.36 |
| Operating cash flow per share | $9.85 | $9.92 | $7.49 | $5.76 |
| Free cash flow per share | $9.69 | $9.81 | $7.37 | $5.64 |
| Cash per share | $28.70 | $33.27 | $3.74 | $11.02 |
| Book value per share | $13.35 | $12.48 | $6.09 | $2.64 |
| Tangible book value per share | $12.30 | $11.55 | $14.62 | $4.84 |
| Dividends per share | — | — | — | $0.79 |
| Capex per share | $0.17 | $0.10 | $0.12 | $0.13 |
| Debt per share | $4.35 | $0.14 | $0.00 | $0.00 |
| Shares outstanding | 33.7M | 29.7M | 31.5M | 31.5M |
| Change in shares outstanding | +13.4% | −5.9% | 0.0% | — |
| Returns & profitability | ||||
| Return on equity (ROE) | 13.1% | 13.6% | 18.2% | 13.5% |
| Return on assets (ROA) | 2.7% | 2.9% | 3.1% | 2.0% |
| Return on tangible assets | 2.3% | 2.4% | 1.9% | 1.8% |
| Free cash flow margin | 59.1% | 68.4% | 82.0% | 94.7% |
| Income quality (OCF / net income) | 6.16 | 7.70 | 9.43 | 16.14 |
| Financial health | ||||
| Total debt | $146.4M | $4.3M | $0 | $0 |
| Cash & short-term investments | $965.7M | $987.5M | $118.1M | $347.6M |
| Net debt | −$819.3M | −$983.2M | −$118.1M | −$347.6M |
| Debt / equity | 0.33 | 0.01 | 0.00 | 0.00 |
| Debt / assets | 0.06 | 0.00 | 0.00 | 0.00 |
| Net debt / EBITDA | −11.52 | −17.83 | −3.43 | −22.59 |
| Current ratio | 0.96 | 701.49 | 0.32 | 1.41 |
| Quick ratio | 0.96 | 701.49 | 2.30 | 2.20 |
| Interest coverage | 33.4 | 69.7 | — | — |
| Working capital | −$71.8M | $1.10B | −$247.1M | $194.4M |
| Invested capital | −$370.0M | −$612.7M | $74.0M | −$264.2M |
| Tangible asset value | $414.0M | $342.8M | $461.1M | $152.7M |
| Net current asset value | −$226.2M | −$181.8M | −$717.7M | $188.6M |
| Graham number | $21.91 | $19.02 | $10.43 | $4.61 |
| Graham net-net per share | −$17.32 | −$1.92 | −$33.25 | −$4.71 |
| Capital allocation | ||||
| Dividends paid | — | — | — | $25.0M |
| Share buybacks (net) | — | $0 | $0 | $25.0M |
| Dividend payout ratio | — | — | — | 222.1% |
| Dividends + buybacks / free cash flow | — | 0.0% | 0.0% | 28.1% |
| Capex / revenue | 1.0% | 0.7% | 1.3% | 2.1% |
| Capex / operating cash flow | 1.7% | 1.1% | 1.6% | 2.2% |
| Capex / depreciation | 3.13 | 0.80 | 1.68 | 5.46 |
| Stock-based compensation / revenue | 1.3% | 1.0% | 0.2% | 0.2% |
| Efficiency | ||||
| Days sales outstanding | 270.5 | 154.1 | 175.3 | 452.0 |
| Days of inventory on hand | — | — | -1,070.8 | -1,084.1 |
| Days payables outstanding | 57.3 | 60.1 | 62.5 | 68.1 |
| Cash conversion cycle (days) | 213.2 | 94.0 | -958.0 | -700.2 |
| Receivables turnover | 1.35 | 2.37 | 2.08 | 0.81 |
| Payables turnover | 6.37 | 6.08 | 5.84 | 5.36 |
| Asset turnover | 0.27 | 0.32 | 0.36 | 0.33 |
| Average receivables | $408.7M | $179.6M | $136.1M | $232.3M |
| Average payables | $58.8M | $46.1M | $32.1M | $23.7M |
| Average inventory | — | — | −$549.3M | −$377.1M |
| Intangibles / total assets | 1.5% | 1.7% | −26.2% | −12.3% |
Computed from BOW's annual financial statements (latest annual report filed February 24, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
BOW valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Bowhead Specialty traded at 17.9 times earnings. Based on the latest twelve months, the trailing P/E is 18.5 and the forward P/E is 13.8. Bowhead Specialty earned a return on equity of 13.1% in fiscal 2025. It ended the year with $146.4 million of debt and $965.7 million in cash and short-term investments, a net cash position of $819.3 million.
See the BOW income statement, the BOW chart for price history, or the BOW stock overview for the latest quote and news.
BOW key metrics FAQ
What is Bowhead Specialty's P/E ratio?
Bowhead Specialty's trailing P/E ratio is 18.5 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 13.8. At the end of fiscal 2025 it was 17.9.
What is Bowhead Specialty's EV/EBITDA?
Bowhead Specialty's enterprise value was 2.0 times EBITDA at the end of fiscal 2025 (enterprise value $141.1 million, EBITDA $71.1 million).
What is Bowhead Specialty's return on equity?
Bowhead Specialty's return on equity (ROE) was 13.1% in fiscal 2025: net income of $53.8 million on average shareholders' equity of $409.9 million.
How much debt does Bowhead Specialty have?
Bowhead Specialty had total debt of $146.4 million at the end of fiscal 2025, a debt-to-equity ratio of 0.33 and more cash than debt.
What is Bowhead Specialty's free cash flow yield?
Bowhead Specialty generated $326.0 million of free cash flow in fiscal 2025, a free cash flow yield of 33.9% on its market value at year-end ($960.4 million).
What is Bowhead Specialty's current ratio?
Bowhead Specialty's current ratio was 0.96 at the end of fiscal 2025: current assets were 0.96 times current liabilities.