NASDAQ : KG
Kestrel Group Ltd — Financial statements
Financials · Insurance - Reinsurance · Bermuda
Last price 4.01 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 31.37M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Premiums & Annuity Revenue | 16.88M | 12.67M | 1.33M | |
| Total Interest & Dividend Income | 11.83M | 8.34M | 213.00K | 229.81K |
| Gain (Loss) on Sale of Investments | 4.25M | 6.96M | ||
| Other Revenue | 11.59M | 6.08M | 3.63M | |
| Total Revenue | 44.55M | 34.05M | 3.85M | 1.56M |
| Policy Benefits | 18.72M | 8.99M | ||
| Policy Acquisition & Underwriting Costs | 5.19M | 3.13M | ||
| Selling, General & Administrative | 36.07M | 19.79M | 5.05M | 2.14M |
| Other Operating Expenses | 106.19K | |||
| Total Operating Expenses | 63.25M | 32.80M | 5.11M | 5.78M |
| Operating Income | -18.70M | 1.25M | -1.26M | -4.22M |
| Interest Expense | -19.10M | -11.30M | ||
| Earnings From Equity Investments | 33.00K | 24.00K | ||
| Currency Exchange Gain (Loss) | 7.88M | -1.72M | ||
| Other Non Operating Income (Expenses) | 2.68M | 1.44M | ||
| EBT Excluding Unusual Items | -27.21M | -10.32M | -1.26M | -4.22M |
| Merger & Restructuring Charges | -3.45M | -5.12M | ||
| Legal Settlements | -1.69M | -2.58M | ||
| Other Unusual Items | -3.30M | 67.61M | ||
| Pretax Income | -35.64M | 49.61M | -1.26M | -4.22M |
| Income Tax Expense | -133.00K | 68.00K | 30.00K | |
| Earnings From Continuing Ops. | -35.51M | 49.54M | -1.29M | -4.22M |
| Earnings From Discontinued Ops. | -2.81M | -2.81M | ||
| Net Income | -38.32M | 46.73M | -1.29M | -4.22M |
| Preferred Dividends & Other Adjustments | 309.00K | 424.00K | ||
| Net Income to Common | -38.63M | 46.30M | -1.29M | -4.22M |
| Shares Outstanding (Basic) | 7.78M | 5.73M | 2.75M | |
| Shares Outstanding (Diluted) | 7.78M | 5.73M | 2.75M | |
| EPS (Basic) | -4.97 | 8.08 | -0.47 | |
| EPS (Diluted) | -4.97 | 8.08 | -0.47 | |
| Operating Margin | -41.98% | 3.66% | -32.78% | -270.25% |
| Profit Margin | -86.71% | 135.98% | -33.56% | -270.25% |
| EBIT | -18.70M | 1.25M | -1.26M | -4.22M |
| EBIT Margin | -41.98% | 3.66% | -32.78% | -270.25% |
| Effective Tax Rate | 0.14% | |||
| Revenue as Reported | 44.55M | 34.05M | 3.85M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Investments in Debt Securities | 144.62M | 163.17M | ||
| Investments in Equity & Preferred Securities | 165.01M | 165.17M | ||
| Other Investments | 53.43M | 53.47M | ||
| Total Investments | 363.06M | 381.81M | ||
| Cash & Equivalents | 16.06M | 7.80M | 4.29M | 5.55M |
| Reinsurance Recoverable | 417.71M | 461.92M | ||
| Other Receivables | 78.27M | 94.33M | 968.00K | |
| Property, Plant & Equipment | 1.92M | 2.03M | 223.00K | 292.33K |
| Other Intangible Assets | 6.28M | 9.35M | ||
| Restricted Cash | 10.22M | 9.15M | ||
| Other Current Assets | 6.42M | 30.45M | 37.31K | |
| Other Long-Term Assets | 19.68M | 13.12M | 33.00K | |
| Total Assets | 919.61M | 1.01B | 5.51M | 5.88M |
| Accounts Payable | 1.72M | |||
| Accrued Expenses | 50.24M | 45.53M | 660.00K | 437.28K |
| Insurance & Annuity Liabilities | 554.34M | 637.17M | ||
| Unearned Premiums | 14.84M | 17.41M | ||
| Current Portion of Leases | 182.00K | 363.00K | 69.88K | |
| Long-Term Debt | 175.05M | 174.40M | ||
| Long-Term Leases | 1.76M | 1.69M | 244.00K | 244.12K |
| Other Current Liabilities | 9.24M | 5.11M | ||
| Total Liabilities | 805.65M | 881.67M | 904.00K | 2.47M |
| Common Stock | 101.00K | 100.00K | 27.00K | 10.07M |
| Additional Paid-In Capital | 180.15M | 177.53M | 10.11M | |
| Retained Earnings | -14.32M | 1.20M | -5.53M | -6.67M |
| Treasury Stock | -51.95M | -51.46M | ||
| Comprehensive Income & Other | -29.00K | 916.00K | ||
| Shareholders' Equity | 113.96M | 128.28M | 4.61M | 3.41M |
| Total Liabilities & Equity | 919.61M | 1.01B | 5.51M | 5.88M |
| Filing Date Shares Outstanding | 7.82M | 7.74M | 2.75M | |
| Total Common Shares Outstanding | 7.82M | 7.74M | 2.75M | |
| Total Debt | 176.99M | 176.46M | 244.00K | 314.00K |
| Net Cash (Debt) | -160.93M | -168.66M | 4.04M | 5.24M |
| Net Cash Per Share | -20.69 | -29.43 | 1.47 | |
| Book Value Per Share | 14.57 | 16.57 | 1.67 | |
| Tangible Book Value | 107.69M | 118.94M | 4.61M | 3.41M |
| Tangible Book Value Per Share | 13.76 | 15.36 | 1.67 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Net Income | -38.32M | 46.73M | -1.29M | -4.22M |
| Gain (Loss) on Sale of Investments | -4.25M | -6.96M | ||
| Stock-Based Compensation | 2.38M | 59.70K | ||
| Reinsurance Recoverable | 16.13M | 12.54M | ||
| Change in Accounts Payable | 1.71M | |||
| Change in Unearned Revenue | -7.75M | -6.52M | ||
| Change in Insurance Reserves / Liabilities | -60.59M | -54.28M | ||
| Change in Other Net Operating Assets | -18.27M | -21.19M | -105.00K | -101.81K |
| Other Operating Activities | -2.69M | -63.49M | 129.00K | 66.41K |
| Operating Cash Flow | -116.35M | -96.14M | -1.27M | -2.49M |
| Cash Acquisitions | -13.71M | 79.81M | ||
| Investment in Securities | 55.80M | 44.73M | ||
| Other Investing Activities | 41.97M | 22.41M | ||
| Investing Cash Flow | 84.06M | 146.94M | ||
| Common Dividends Paid | -40.00M | |||
| Financing Cash Flow | -486.00K | -40.00M | ||
| Foreign Exchange Rate Adjustments | -898.00K | 392.00K | ||
| Miscellaneous Cash Flow Adjustments | -1.47M | -1.47M | ||
| Net Cash Flow | -35.15M | 9.73M | -1.27M | -2.49M |
| Levered Free Cash Flow | 94.32M | -446.01M | -3.16M | |
| Unlevered Free Cash Flow | 106.26M | -438.94M | -3.16M | |
| Cash Interest Paid | 11.34M | 11.34M | ||
| Cash Income Tax Paid | 48.00K | 48.00K | ||
| Change in Working Capital | -70.48M | -69.45M | -105.00K | 1.60M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Market Capitalization | 33.72M | 79.28M | ||
| Enterprise Value | 194.65M | 242.58M | ||
| PE Ratio | 1.71 | |||
| PS Ratio | 0.74 | 2.33 | ||
| PB Ratio | 0.28 | 0.62 | ||
| EV/Sales Ratio | 4.35 | 7.12 | ||
| EV/EBIT Ratio | 194.69 | |||
| Debt / Equity Ratio | 1.55 | 1.38 | 0.05 | 0.09 |
| Debt / EBITDA Ratio | 107.40 | |||
| Net Debt / Equity Ratio | 1.41 | 1.31 | -0.88 | -1.54 |
| Quick Ratio | 0.27 | 0.15 | 7.96 | 2.49 |
| Current Ratio | 6.17 | 7.55 | 7.96 | 2.51 |
| Asset Turnover | 0.04 | 0.07 | 0.68 | |
| Return on Equity (ROE) | -26.90% | 74.56% | -32.22% | |
| Return on Assets (ROA) | -1.12% | 0.15% | -13.84% | |
| Return on Invested Capital (ROIC) | -6.35% | 0.80% | -29.42% | -113.25% |
| Earnings Yield | -115.22% | 58.94% | ||
| Payout Ratio | 85.61% | |||
| Buyback Yield / Dilution | -141.49% | -108.41% |