What is Conifer Holdings's earnings per share (EPS)?

Conifer Holdings (CNFR) reported diluted earnings per share of $-1.51 for fiscal year 2025. This represents a -178.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Conifer Holdings Financials

CNFR

Source SEC Filings (10-K/10-Q) Updated Mar 27, 2026 Currency USD FYE March

This page shows Conifer Holdings (CNFR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Earnings Quality Low Quality

0.48x

For every $1 of reported earnings, Conifer Holdings generates $0.48 in operating cash flow (-$8.8M OCF vs -$18.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-4.6x

Conifer Holdings earns $-4.6 in operating income for every $1 of interest expense (-$14.7M vs $3.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$43.3M

YoY-35.6%

5Y CAGR-16.0%

10Y CAGR-4.8%

Conifer Holdings generated $43.3M in revenue in fiscal year 2025. This represents a decrease of 35.6% from the prior year.

EBITDA

N/A

Net Income

-$18.4M

YoY-175.7%

Conifer Holdings reported -$18.4M in net income in fiscal year 2025. This represents a decrease of 175.7% from the prior year.

EPS (Diluted)

$-1.51

YoY-178.2%

Conifer Holdings earned $-1.51 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 178.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

N/A

Dividends Per Share

N/A

Shares Outstanding

26M

YoY+114.5%

5Y CAGR+22.1%

10Y CAGR+13.1%

Conifer Holdings had 26M shares outstanding in fiscal year 2025. This represents an increase of 114.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

-34.0%

YoY+21.4pp

5Y CAGR-25.2pp

Conifer Holdings's operating margin was -34.0% in fiscal year 2025, reflecting core business profitability. This is up 21.4 percentage points from the prior year.

Net Margin

-42.6%

YoY-78.8pp

5Y CAGR-43.1pp

10Y CAGR-42.7pp

Conifer Holdings's net profit margin was -42.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 78.8 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

CNFR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$43.3M-35.6%	$67.3M-25.7%	$90.5M-13.7%	$104.9M-9.5%	$116.0M+12.1%	$103.5M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	-$14.7M+60.5%	-$37.3M-22.4%	-$30.5M-7.5%	-$28.3M-112.2%	-$13.3M-47.0%	-$9.1M
Interest Expense	$3.2M-34.8%	$4.9M+52.3%	$3.2M+7.9%	$3.0M+4.2%	$2.9M-2.5%	$2.9M
Income Tax	$141K+107.7%	-$1.8M-421.2%	-$353K+96.3%	-$9.4M-4638.9%	$208K+3366.7%	$6K
Net Income	-$18.4M-175.7%	$24.3M+193.9%	-$25.9M-142.7%	-$10.7M-876.3%	-$1.1M-283.9%	$595K
EPS (Diluted)	$-1.51-178.2%	$1.93+191.0%	$-2.12-112.0%	$-1.00-809.1%	$-0.11-283.3%	$0.06

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$6.7M-58.6%	$16.1M+1.6%	$15.9M+7.8%	$14.7M-8.1%	$16.0M-10.5%	$17.9M-3.9%	$18.6M+19.5%	$15.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	-$2.9M+20.1%	-$3.6M+17.8%	-$4.4M+83.0%	-$26.1M-255.7%	-$7.3M-68.5%	-$4.4M-981.0%	$494K+102.5%	-$19.7M
Interest Expense	$874K+1.2%	$864K+59.7%	$541K-37.3%	$863K-62.1%	$2.3M+162.1%	$868K-1.0%	$877K+3.8%	$845K
Income Tax	$0	$0	$0-100.0%	$11K+100.8%	-$1.4M-310.5%	-$333K-120.5%	-$151K-245.2%	$104K
Net Income	-$4.0M-293.6%	$2.1M+292.9%	$522K+102.1%	-$24.6M-146.5%	$52.8M+1436.4%	-$4.0M-5437.8%	$74K+100.4%	-$19.5M
EPS (Diluted)	$-0.32-288.2%	$0.17+325.0%	$0.04	N/A	$4.32+1450.0%	$-0.32-3300.0%	$0.01	N/A

CNFR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	N/A	$281.7M-10.8%	$315.6M+1.0%	$312.4M+7.6%	$290.4M+11.0%	$261.6M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	N/A	$27.7M+159.3%	$10.7M-62.0%	$28.0M+182.8%	$9.9M+21.0%	$8.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	N/A	$260.1M-16.8%	$312.7M+6.6%	$293.4M+17.4%	$249.9M+15.1%	$217.2M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	$11.9M-52.4%	$25.1M-26.0%	$33.9M+0.9%	$33.6M-18.1%	$41.0M
Total Equity	N/A	$21.5M+645.1%	$2.9M-84.8%	$18.9M-53.2%	$40.5M-8.8%	$44.4M
Retained Earnings	N/A	-$63.2M+27.1%	-$86.7M-42.7%	-$60.8M-21.3%	-$50.1M-2.2%	-$49.0M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$285.0M+0.6%	$283.3M+2.2%	$277.1M-1.6%	$281.7M-6.1%	$299.9M+2.4%	$292.9M-2.7%	$301.1M-4.6%	$315.6M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$7.4M-66.2%	$22.0M+113.5%	$10.3M-62.8%	$27.7M-14.6%	$32.4M+234.0%	$9.7M-44.0%	$17.3M+62.4%	$10.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$259.7M+1.8%	$255.1M+1.4%	$251.5M-3.3%	$260.1M+3.7%	$250.8M-14.7%	$294.1M-1.5%	$298.5M-4.5%	$312.7M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$12.1M+0.5%	$12.1M+0.5%	$12.0M+0.5%	$11.9M-27.6%	$16.5M-33.7%	$24.8M-0.5%	$24.9M-0.5%	$25.1M
Total Equity	$25.3M-10.3%	$28.2M+10.3%	$25.6M+18.9%	$21.5M-56.1%	$49.1M+4310.4%	-$1.2M-145.5%	$2.6M-11.4%	$2.9M
Retained Earnings	-$64.5M-6.6%	-$60.6M+3.3%	-$62.6M+0.8%	-$63.2M-67.2%	-$37.8M+58.3%	-$90.6M-4.6%	-$86.6M+0.1%	-$86.7M

CNFR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$8.8M+73.2%	-$32.7M-144.0%	-$13.4M+66.9%	-$40.5M-855.8%	$5.4M+79.6%	$3.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	$78K
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	$2.9M
Investing Cash Flow	-$6.9M	N/A	-$272K-100.5%	$56.5M+4003.3%	$1.4M+118.8%	-$7.3M
Financing Cash Flow	$15.5M+173.5%	-$21.1M-549.6%	-$3.2M-255.1%	$2.1M+141.8%	-$5.0M-198.6%	$5.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	$12K-66.7%	$36K

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$681K+75.3%	-$2.8M+81.9%	-$15.3M+23.7%	-$20.0M-86.5%	-$10.7M-5.9%	-$10.1M-223.9%	$8.2M+164.6%	-$12.7M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$13.9M-196.0%	$14.4M+250.1%	-$9.6M	N/A	$49.2M+1586.2%	$2.9M+287.2%	-$1.6M-141.3%	$3.8M
Financing Cash Flow	$0	$0-100.0%	$7.5M+266.7%	-$4.5M+71.4%	-$15.8M-3760.8%	-$408K+4.2%	-$426K-107.5%	$5.7M
Dividends Paid	$0	N/A	N/A	N/A	$0+100.0%	-$176K-200.0%	$176K	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CNFR Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-34.0%+21.4pp	-55.4%-21.8pp	-33.7%-6.6pp	-27.0%-15.5pp	-11.5%-2.7pp	-8.8%
Net Margin	-42.6%-78.8pp	36.2%+64.8pp	-28.6%-18.5pp	-10.2%-9.2pp	-0.9%-1.5pp	0.6%
Return on Equity	N/A	113.1%+1010.4pp	-897.3%-840.9pp	-56.4%-53.7pp	-2.7%-4.0pp	1.3%
Return on Assets	N/A	8.6%+16.9pp	-8.2%-4.8pp	-3.4%-3.0pp	-0.4%-0.6pp	0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	N/A	0.55-8.1	8.67+6.9	1.79+1.0	0.83-0.1	0.92
FCF Margin	N/A	N/A	N/A	N/A	N/A	2.8%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-43.6%-21.0pp	-22.6%+5.3pp	-27.9%+149.2pp	-177.1%-131.4pp	-45.8%-21.5pp	-24.3%-27.0pp	2.6%+129.4pp	-126.7%
Net Margin	-59.4%-72.2pp	12.7%+9.4pp	3.3%+170.1pp	-166.8%-496.4pp	329.6%+351.6pp	-22.1%-22.5pp	0.4%+125.4pp	-125.0%
Return on Equity	-15.7%-23.0pp	7.3%+5.2pp	2.0%+116.2pp	-114.1%-221.7pp	107.6%	N/A	2.9%+677.1pp	-674.3%
Return on Assets	-1.4%-2.1pp	0.7%+0.5pp	0.2%+8.9pp	-8.7%-26.3pp	17.6%+18.9pp	-1.4%-1.4pp	0.0%+6.2pp	-6.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.48+0.1	0.43-0.0	0.47-0.1	0.55+0.2	0.34+21.7	-21.32-31.1	9.75+1.1	8.67
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Conifer Holdings's annual revenue?

Conifer Holdings (CNFR) reported $43.3M in total revenue for fiscal year 2025. This represents a -35.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Conifer Holdings's revenue growing?

Conifer Holdings (CNFR) revenue declined by 35.6% year-over-year, from $67.3M to $43.3M in fiscal year 2025.

Is Conifer Holdings profitable?

No, Conifer Holdings (CNFR) reported a net income of -$18.4M in fiscal year 2025, with a net profit margin of -42.6%.

What is Conifer Holdings's operating margin?

Conifer Holdings (CNFR) had an operating margin of -34.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Conifer Holdings's net profit margin?

Conifer Holdings (CNFR) had a net profit margin of -42.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Conifer Holdings's operating cash flow?

Conifer Holdings (CNFR) generated -$8.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

How many shares does Conifer Holdings have outstanding?

Conifer Holdings (CNFR) had 26M shares outstanding as of fiscal year 2025.

Are Conifer Holdings's earnings high quality?

Conifer Holdings (CNFR) has an earnings quality ratio of 0.48x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Conifer Holdings cover its interest payments?

Conifer Holdings (CNFR) has an interest coverage ratio of -4.6x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.