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Financials · KWY

Kingsway Corporation (KWY) financials

For the twelve months ended Sep 30, 2026, Kingsway Corporation reported $155.81M of revenue and -$9.04M of net income.

Revenue, TTM
$155.81M
Revenue growth, YoY
+23.6%
Net income, TTM
-$9.04M
Net margin
-5.8%
EPS, diluted, TTM
-$0.30
Cash
$8.27M
Total debt
$50.67M
P/S
1.57
Market cap
$244.2M
Annual revenue$135.00M
FY2016FY2025
Annual net income-$11.92M
FY2016FY2025
Annual free cash flow-$6.74M
FY2016FY2021

KWY revenue and earnings growth

KWY revenueQ3 2026$38.85M

Quarter YoY
+4.5%
QoQ
-1.5%
FY YoY
+23.4%
5Y CAGR
+17.2%
10Y CAGR
-1.7%

KWY revenue was $38.85M in fiscal Q3 2026 (ended Sep 30, 2026), up 4.5% from a year earlier and down 1.5% from the prior quarter. For the full fiscal 2025 it was $135.00M, up 23.4% from fiscal 2024. Compound annual growth was +17.2% over 5 years and -1.7% over 10 years. It rose in 9 of the last 10 fiscal years.

KWY net incomeQ3 2026-$3.15M

KWY net income was -$3.15M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$2.41M a year earlier. For the full fiscal 2025 it was -$11.92M, compared with -$9.45M in fiscal 2024.

KWY EPSQ3 2026-$0.10

KWY diluted EPS was -$0.10 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.10 a year earlier. For the full fiscal 2025 it was -$0.43, compared with -$0.35 in fiscal 2024.

KWY free cash flowQ2 2026$754.0K

Quarter YoY
+175.2%

KWY free cash flow was $754.0K in fiscal Q2 2026 (ended Jun 30, 2026), up 175.2% from a year earlier. For the full fiscal 2021 it was -$6.74M, compared with $1.46M in fiscal 2020.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$135.00M$109.38M$103.24M$93.28M$78.40M$60.97M$59.95M$52.08M$44.60M$176.63M
Selling, general and admin$61.22M$44.92M$41.80M$43.52M$45.24M$42.10M$36.26M$29.73M$27.31M$41.63M
Operating income-$2.40M$2.16M$954.0K-$3.57M-$474.0K-$5.22M-$1.41M-$2.29M$6.78M-$7.07M
Interest expense--$6.25M$8.09M$6.16M-$8.99M$7.41M$6.35M$4.50M
Pre-tax income-$14.00M-$8.26M$23.65M$34.96M-$6.63M-$6.54M-$3.13M-$21.95M-$12.51M-$10.45M
Income tax-$3.75M-$147.0K-$1.90M$4.83M-$3.92M-$1.11M-$363.0K$315.0K-$16.69M-$9.72M
Net income-$11.92M-$9.45M$23.48M$24.42M-$836.0K-$7.80M-$6.91M-$30.72M-$16.94M$238.0K
EPS, basic-$0.43-$0.35$0.91$1.06-$0.04-$0.35-$0.32-$1.41-$0.79$0.01
EPS, diluted-$0.43-$0.35$0.89$0.98-$0.04-$0.35-$0.32-$1.41-$0.79$0.01
Diluted shares27.9M27.2M26.4M25.3M22.5M22.2M21.9M21.7M21.5M20.0M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$8.31M$5.49M$17.50M$77.23M$27.34M$39.09M$25.66M$31.58M$20.36M$31.48M
Short-term investments$178.0K$169.0K$161.0K$157.0K$157.0K$157.0K$155.0K$152.0K$151.0K$401.0K
Inventory$1.76M$714.0K--------
Current assets$76.50M---------
Goodwill$69.13M$56.52M$50.36M$45.50M$49.26M$121.13M$82.10M$74.66M$80.84M$71.06M
Total assets$231.50M$186.62M$197.72M$285.65M$475.63M$452.47M$399.62M$378.24M$506.69M$501.02M
Current liabilities$83.56M---------
Short-term debt$11.71M---------
Total debt$59.00M$57.54M$44.42M$102.09M$94.10M$268.29M$194.63M$253.26M$244.14M$233.69M
Total liabilities$197.09M$168.31M$173.11M$263.53M$460.88M$433.81M$378.85M$348.18M$450.78M$437.76M
Shareholders' equity$15.17M$10.05M$24.61M$16.11M$8.26M$12.16M$13.95M$24.26M$50.73M$56.01M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$3.0K$1.07M-$26.19M-$14.57M-$5.91M$1.67M$759.0K-$10.14M-$14.40M-$15.59M
Capital expenditures----$830.0K$213.0K---$645.0K
Free cash flow-----$6.74M$1.46M----$16.23M
Investing cash flow-$29.61M-$16.85M$6.46M$100.94M-$8.60M$4.01M-$6.47M$20.05M$20.10M-$8.77M
Financing cash flow$32.75M$11.44M-$39.96M-$37.93M-$540.0K$13.60M$1.31M-$4.09M$2.17M$9.13M
Share repurchases$345.0K$2.50M$3.20M$0----$0$125.0K
Stock-based compensation$1.72M$1.78M$1.64M$4.05M$3.60M$1.35M$1.23M-$1.66M$1.19M$1.01M
Depreciation and amortization$9.22M$7.00M$6.22M$6.45M$5.07M$6.73M$6.92M$6.71M$5.39M$2.78M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY23.4%5.9%10.7%19.0%28.6%1.7%15.1%16.8%-74.8%10.4%
Net income growth, YoY---3.8%-------66.6%
EPS growth, YoY---9.2%-------75.0%
Operating margin-1.8%2.0%0.9%-3.8%-0.6%-8.6%-2.4%-4.4%15.2%-4.0%
Net margin-8.8%-8.6%22.7%26.2%-1.1%-12.8%-11.5%-59.0%-38.0%0.1%
Free cash flow margin-----8.6%2.4%----9.2%
Return on equity-78.6%-94.0%95.4%151.6%-10.1%-64.1%-49.5%-126.6%-33.4%0.4%
Return on assets-5.1%-5.1%11.9%8.5%-0.2%-1.7%-1.7%-8.1%-3.3%0.0%
Current ratio0.92---------
Debt to equity3.895.721.806.3411.4022.0613.9510.444.814.17

Source: XBRL data Kingsway Corporation files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

KWY peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
KWY$155.81M+23.6%-$9.04M-5.8%$244.2M
CB$61.85B+5.7%$11.23B18.2%$141.03B
PGR$91.73B+7.7%$11.62B12.7%$134.27B
TRV$48.92B+1.1%$8.33B17.0%$82.14B
ALL$70.23B+5.1%$11.61B16.5%$64.61B
AIG$27.73B+1.2%$3.29B11.9%$42.68B
HIG$29.87B+9.2%$4.61B15.4%$36.85B
ACGL$18.78B-3.9%$4.38B23.3%$35.53B
CINF$13.28B+9.9%$2.66B20.1%$29.15B

KWY FAQ

7 questions
  • What is KWY revenue?
    Kingsway Corporation (KWY) reported $155.81M of revenue for the twelve months ended Sep 30, 2026. That is up 23.6% from the year before. Revenue for fiscal 2025 was $135.00M.
  • Is KWY profitable?
    No. Kingsway Corporation reported a net loss of $9.04M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does KWY have?
    Kingsway Corporation reported $8.27M in cash and cash equivalents and $50.67M of debt on its most recent balance sheet in SEC filings.
  • How fast is KWY revenue growing?
    Kingsway Corporation's revenue changed +23.4% in fiscal 2025, to $135.00M. Its compound annual growth rate was +17.2% over 5 years and -1.7% over 10 years.
  • What is KWY earnings per share?
    Diluted earnings per share were -$0.30 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did KWY last report financial results?
    The latest statements here come from Kingsway Corporation's 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this KWY financial data come from?
    Quantisnow builds these statements from the structured XBRL data Kingsway Corporation files with the SEC. It is provided for information only and is not investment advice.