NYSE : KNSL
Kinsale Capital Group, Inc. — Financial statements
Financials · Insurance - Property & Casualty · United States
Last price 365.71 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 8.23B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 1.66B | 1.58B | 1.35B | 1.07B | 794.12M | 582.88M |
| Total Interest & Dividend Income | 221.72M | 192.19M | 150.29M | 102.33M | 51.28M | 31.05M |
| Gain (Loss) on Sale of Investments | 23.10M | 63.22M | 50.72M | 21.13M | -26.90M | 25.64M |
| Other Revenue | 45.06M | 42.73M | 36.04M | 28.45M | 20.30M | 13.90M |
| Total Revenue | 1.95B | 1.87B | 1.59B | 1.22B | 838.80M | 653.47M |
| Policy Benefits | 911.32M | 890.69M | 772.90M | 600.22M | 457.91M | 324.42M |
| Policy Acquisition & Underwriting Costs | 468.88M | 456.16M | 406.15M | 313.97M | 225.02M | 164.29M |
| Other Operating Expenses | 2.78M | 1.65M | 3.97M | 942.00K | 721.00K | 669.00K |
| Reinsurance Income or Expense | 100.29M | 119.47M | 120.34M | 85.00M | 44.70M | 25.70M |
| Total Operating Expenses | 1.28B | 1.23B | 1.06B | 830.13M | 638.96M | 463.68M |
| Operating Income | 670.60M | 644.95M | 524.85M | 394.32M | 199.85M | 189.79M |
| Interest Expense | -12.69M | -10.65M | -10.13M | -10.30M | -4.28M | -994.00K |
| Pretax Income | 657.91M | 634.30M | 514.72M | 384.02M | 195.56M | 188.80M |
| Income Tax Expense | 132.73M | 130.69M | 99.87M | 75.92M | 36.45M | 36.14M |
| Net Income | 525.18M | 503.61M | 414.84M | 308.09M | 159.11M | 152.66M |
| Net Income to Common | 525.18M | 503.61M | 414.84M | 308.09M | 159.11M | 152.66M |
| Shares Outstanding (Basic) | 22.82M | 23.14M | 23.15M | 23.05M | 22.82M | 22.69M |
| Shares Outstanding (Diluted) | 22.88M | 23.26M | 23.33M | 23.31M | 23.12M | 23.06M |
| EPS (Basic) | 23.01 | 21.76 | 17.92 | 13.37 | 6.97 | 6.73 |
| EPS (Diluted) | 22.96 | 21.65 | 17.78 | 13.22 | 6.88 | 6.62 |
| Free Cash Flow | 973.04M | 990.05M | 952.36M | 853.23M | 550.91M | 401.12M |
| Free Cash Flow Per Share | 42.54 | 42.57 | 40.82 | 36.61 | 23.82 | 17.39 |
| Dividend Per Share | 0.92 | 0.68 | 0.60 | 0.56 | 0.52 | 0.44 |
| Operating Margin | 34.33% | 34.42% | 33.06% | 32.20% | 23.82% | 29.04% |
| Profit Margin | 26.89% | 26.87% | 26.13% | 25.16% | 18.97% | 23.36% |
| Free Cash Flow Margin | 49.81% | 52.83% | 59.99% | 69.68% | 65.68% | 61.38% |
| EBITDA | 678.50M | 650.78M | 530.65M | 397.59M | 202.57M | 192.10M |
| EBITDA Margin | 34.74% | 34.73% | 33.43% | 32.47% | 24.15% | 29.40% |
| D&A For EBITDA | 7.91M | 5.83M | 5.80M | 3.27M | 2.72M | 2.31M |
| EBIT | 670.60M | 644.95M | 524.85M | 394.32M | 199.85M | 189.79M |
| EBIT Margin | 34.33% | 34.42% | 33.06% | 32.20% | 23.82% | 29.04% |
| Effective Tax Rate | 20.17% | 20.60% | 19.40% | 19.77% | 18.64% | 19.14% |
| Revenue as Reported | 1.87B | 1.87B | 1.59B | 1.22B | 838.80M | 653.47M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 4.50B | 4.34B | 3.54B | 2.71B | 1.76B | 1.39B |
| Investments in Equity & Preferred Securities | 779.23M | 626.40M | 398.36M | 234.81M | 152.47M | 172.61M |
| Other Investments | 3.86M | 3.71M | 5.59M | 41.34M | ||
| Total Investments | 5.33B | 5.03B | 3.95B | 2.97B | 2.03B | 1.56B |
| Cash & Equivalents | 160.51M | 163.36M | 113.21M | 126.69M | 156.27M | 121.04M |
| Reinsurance Recoverable | 427.11M | 394.33M | 337.89M | 247.84M | 220.45M | 122.97M |
| Other Receivables | 152.62M | 155.56M | 167.39M | 164.90M | 120.20M | 83.76M |
| Deferred Policy Acquisition Cost | 122.17M | 118.74M | 109.26M | 88.39M | 61.59M | 41.97M |
| Property, Plant & Equipment | 94.40M | 89.43M | 82.92M | 63.40M | 53.48M | 49.30M |
| Other Intangible Assets | 3.54M | 3.54M | 3.54M | 3.54M | 3.54M | 3.54M |
| Long-Term Deferred Tax Assets | 86.02M | 42.19M | 60.22M | 55.70M | 56.98M | 2.11M |
| Other Long-Term Assets | 53.57M | 49.46M | 57.59M | 55.55M | 44.30M | 36.30M |
| Total Assets | 6.43B | 6.04B | 4.89B | 3.77B | 2.75B | 2.03B |
| Accounts Payable | 71.48M | 66.30M | 55.16M | 57.22M | 33.16M | 38.25M |
| Unpaid Claims | 3.32B | 2.89B | 2.29B | 1.69B | 1.24B | 881.34M |
| Unearned Premiums | 862.65M | 860.39M | 828.45M | 701.35M | 499.68M | 347.73M |
| Reinsurance Payable | 25.26M | 34.38M | 43.96M | 47.58M | 32.02M | 16.11M |
| Current Income Taxes Payable | 3.60M | 2.80M | 3.20M | 2.50M | ||
| Long-Term Debt | 224.60M | 224.40M | 184.12M | 183.85M | 195.75M | 42.70M |
| Other Long-Term Liabilities | 3.81M | 4.03M | 2.99M | 66.00K | 162.00K | 188.00K |
| Total Liabilities | 4.51B | 4.08B | 3.40B | 2.69B | 2.00B | 1.33B |
| Common Stock | 235.00K | 234.00K | 233.00K | 232.00K | 231.00K | 228.00K |
| Additional Paid-In Capital | 384.82M | 373.68M | 361.40M | 352.97M | 347.01M | 295.04M |
| Retained Earnings | 2.09B | 1.72B | 1.23B | 828.25M | 533.12M | 385.94M |
| Treasury Stock | -365.32M | -100.58M | -10.00M | |||
| Comprehensive Income & Other | -187.16M | -30.69M | -97.21M | -94.62M | -134.92M | 18.12M |
| Shareholders' Equity | 1.92B | 1.96B | 1.48B | 1.09B | 745.45M | 699.34M |
| Total Liabilities & Equity | 6.43B | 6.04B | 4.89B | 3.77B | 2.75B | 2.03B |
| Filing Date Shares Outstanding | 22.51M | 23.15M | 23.28M | 23.19M | 23.10M | 22.84M |
| Total Common Shares Outstanding | 22.51M | 23.15M | 23.29M | 23.18M | 23.09M | 22.83M |
| Total Debt | 224.60M | 224.40M | 184.12M | 183.85M | 195.75M | 42.70M |
| Net Cash (Debt) | -64.10M | -61.04M | -70.91M | -57.15M | -39.47M | 78.34M |
| Net Cash Per Share | -2.80 | -2.62 | -3.04 | -2.45 | -1.71 | 3.40 |
| Book Value Per Share | 85.25 | 84.66 | 63.69 | 46.88 | 32.28 | 30.63 |
| Tangible Book Value | 1.92B | 1.96B | 1.48B | 1.08B | 741.91M | 695.80M |
| Tangible Book Value Per Share | 85.09 | 84.51 | 63.53 | 46.73 | 32.13 | 30.47 |
| Land | 3.07M | 3.07M | 3.07M | 3.07M | ||
| Buildings | 69.94M | 66.76M | 37.19M | 37.18M | 33.06M | 33.10M |
| Machinery | 11.63M | 11.53M | 7.60M | 7.02M | 6.06M | 5.30M |
| Construction In Progress | 1.28M | 376.00K | 26.53M | 6.62M | 2.62M | |
| Leasehold Improvements | 153.00K | 153.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 525.18M | 503.61M | 414.84M | 308.09M | 159.11M | 152.66M |
| Depreciation & Amortization | 7.91M | 5.83M | 5.80M | 3.27M | 2.72M | 2.31M |
| Gain (Loss) on Sale of Investments | -63.22M | -63.22M | -50.72M | -21.13M | 26.90M | -25.64M |
| Stock-Based Compensation | 17.88M | 17.88M | 14.15M | 9.36M | 6.68M | 4.84M |
| Change in Accounts Receivable | 15.43M | 15.43M | 3.19M | -37.46M | -34.75M | -22.36M |
| Change in Accounts Payable | 10.86M | 10.86M | 8.94M | 12.52M | 8.11M | 10.10M |
| Change in Unearned Revenue | 31.95M | 31.95M | 127.10M | 201.67M | 151.95M | 86.74M |
| Change in Income Taxes | 761.00K | 761.00K | -359.00K | 742.00K | 7.52M | -3.88M |
| Change in Insurance Reserves / Liabilities | 605.20M | 605.20M | 592.79M | 454.47M | 357.06M | 245.33M |
| Change in Other Net Operating Assets | -75.44M | -75.44M | -114.72M | -35.48M | -93.66M | -32.43M |
| Other Operating Activities | -70.75M | 343.00K | -3.83M | -9.43M | -14.19M | -576.00K |
| Operating Cash Flow | 996.28M | 1.04B | 976.30M | 859.84M | 557.82M | 407.04M |
| Capital Expenditures | -23.24M | -53.69M | -23.94M | -6.61M | -6.90M | -5.92M |
| Investment in Securities | -667.96M | -868.52M | -935.87M | -914.21M | -625.05M | -346.04M |
| Investing Cash Flow | -691.43M | -922.21M | -960.12M | -860.89M | -708.57M | -351.95M |
| Long-Term Debt Issued | 40.00M | 50.00M | 198.00M | |||
| Total Debt Repaid | -30.00M | -62.00M | -43.00M | |||
| Net Debt Issued (Repaid) | 25.00M | 40.00M | -12.00M | 155.00M | ||
| Issuance of Common Stock | 1.29M | 681.00K | 1.33M | 877.00K | 48.59M | 982.00K |
| Repurchases of Common Stock | -319.83M | -96.28M | -17.05M | -4.28M | -3.29M | -2.10M |
| Common Dividends Paid | -20.96M | -15.78M | -13.94M | -12.95M | -11.93M | -10.02M |
| Other Financing Activities | -164.00K | -2.38M | ||||
| Financing Cash Flow | -314.51M | -71.38M | -29.66M | -28.52M | 185.99M | -11.14M |
| Net Cash Flow | -9.65M | 50.15M | -13.48M | -29.58M | 35.23M | 43.95M |
| Free Cash Flow | 973.04M | 990.05M | 952.36M | 853.23M | 550.91M | 401.12M |
| Free Cash Flow Margin | 49.81% | 52.83% | 59.99% | 69.68% | 65.68% | 61.38% |
| Free Cash Flow Per Share | 42.54 | 42.57 | 40.82 | 36.61 | 23.82 | 17.39 |
| Levered Free Cash Flow | 912.66M | 961.23M | 940.84M | 906.17M | 471.79M | 422.31M |
| Unlevered Free Cash Flow | 920.60M | 967.88M | 947.17M | 912.61M | 474.47M | 422.93M |
| Cash Interest Paid | 10.40M | 10.40M | 10.30M | 10.50M | 2.40M | 900.00K |
| Cash Income Tax Paid | 129.60M | 129.60M | 104.10M | 84.60M | 43.10M | 40.60M |
| Change in Working Capital | 579.29M | 579.29M | 596.06M | 569.67M | 376.60M | 273.45M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 8.58B | 9.10B | 10.83B | 7.76B | 6.04B | 5.43B |
| Enterprise Value | 8.65B | 9.13B | 10.90B | 7.78B | 6.03B | 5.38B |
| PE Ratio | 16.61 | 18.07 | 26.11 | 25.19 | 37.94 | 35.56 |
| PS Ratio | 4.21 | 4.86 | 6.82 | 6.34 | 7.20 | 8.31 |
| PB Ratio | 4.29 | 4.64 | 7.30 | 7.14 | 8.10 | 7.76 |
| P/FCF Ratio | 8.46 | 9.19 | 11.37 | 9.10 | 10.96 | 13.53 |
| P/OCF Ratio | 8.26 | 8.72 | 11.10 | 9.03 | 10.82 | 13.34 |
| EV/Sales Ratio | 4.25 | 4.87 | 6.87 | 6.36 | 7.19 | 8.23 |
| EV/EBITDA Ratio | 12.23 | 14.03 | 20.55 | 19.57 | 29.78 | 28.01 |
| EV/EBIT Ratio | 12.37 | 14.15 | 20.78 | 19.73 | 30.19 | 28.35 |
| EV/FCF Ratio | 8.53 | 9.22 | 11.45 | 9.12 | 10.95 | 13.41 |
| Debt / Equity Ratio | 0.12 | 0.12 | 0.12 | 0.17 | 0.26 | 0.06 |
| Debt / EBITDA Ratio | 0.33 | 0.34 | 0.35 | 0.46 | 0.97 | 0.22 |
| Debt / FCF Ratio | 0.23 | 0.23 | 0.19 | 0.21 | 0.35 | 0.11 |
| Net Debt / Equity Ratio | 0.03 | 0.03 | 0.05 | 0.05 | 0.05 | -0.11 |
| Net Debt / EBITDA Ratio | 0.09 | 0.09 | 0.13 | 0.14 | 0.20 | -0.41 |
| Net Debt / FCF Ratio | 0.07 | 0.06 | 0.07 | 0.07 | 0.07 | -0.20 |
| Quick Ratio | 0.07 | 0.08 | 0.08 | 0.11 | 0.17 | 0.15 |
| Current Ratio | 0.17 | 0.19 | 0.19 | 0.22 | 0.30 | 0.26 |
| Asset Turnover | 0.32 | 0.34 | 0.37 | 0.38 | 0.35 | 0.37 |
| Return on Equity (ROE) | 27.76% | 29.25% | 32.28% | 33.63% | 22.03% | 23.94% |
| Return on Assets (ROA) | 6.83% | 7.38% | 7.58% | 7.56% | 5.23% | 6.64% |
| Return on Invested Capital (ROIC) | 24.31% | 26.59% | 28.79% | 28.61% | 19.32% | 22.55% |
| Earnings Yield | 6.02% | 5.54% | 3.83% | 3.97% | 2.64% | 2.81% |
| FCF Yield | 11.82% | 10.88% | 8.79% | 10.99% | 9.13% | 7.39% |
| Dividend Yield | 0.26% | 0.17% | 0.13% | 0.17% | 0.20% | 0.18% |
| Payout Ratio | 4.01% | 3.13% | 3.36% | 4.21% | 7.50% | 6.56% |
| Buyback Yield / Dilution | 1.83% | 0.31% | -0.11% | -0.79% | -0.27% | -0.92% |
| Total Shareholder Return | 2.10% | 0.49% | 0.02% | -0.62% | -0.07% | -0.73% |