Kingsway Finl Financials
This page shows Kingsway Finl (KFS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Kingsway Finl has an operating margin of -1.8%, meaning the company retains $-2 of operating profit per $100 of revenue. This below-average margin results in a low score of 18/100, suggesting thin profitability after operating expenses. This is down from 2.0% the prior year.
Kingsway Finl's revenue surged 23.4% year-over-year to $135.0M, reflecting rapid business expansion. This strong growth earns a score of 72/100.
Kingsway Finl has elevated debt relative to equity (D/E of 4.66), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 7/100, reflecting increased financial risk.
Kingsway Finl generates a -67.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -98.6% the prior year.
Kingsway Finl passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Kingsway Finl generates $0.00 in operating cash flow (-$3K OCF vs -$10.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Kingsway Finl earns $-0.4 in operating income for every $1 of interest expense (-$2.4M vs $5.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Kingsway Finl generated $135.0M in revenue in fiscal year 2025. This represents an increase of 23.4% from the prior year.
Kingsway Finl's EBITDA was $6.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 25.5% from the prior year.
Kingsway Finl reported -$10.3M in net income in fiscal year 2025. This represents a decrease of 23.6% from the prior year.
Kingsway Finl earned $-0.43 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 22.9% from the prior year.
Cash & Balance Sheet
Kingsway Finl held $8.3M in cash against $70.7M in long-term debt as of fiscal year 2025.
Kingsway Finl had 29M shares outstanding in fiscal year 2025. This represents an increase of 5.5% from the prior year.
Margins & Returns
Kingsway Finl's operating margin was -1.8% in fiscal year 2025, reflecting core business profitability. This is down 3.8 percentage points from the prior year.
Kingsway Finl's net profit margin was -7.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.0 percentage points from the prior year.
Kingsway Finl's ROE was -67.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 31.0 percentage points from the prior year.
Capital Allocation
Kingsway Finl spent $345K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 86.2% from the prior year.
KFS Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $38.6M+3.7% | $37.2M+20.2% | $30.9M+9.1% | $28.3M-4.4% | $29.6M+9.2% | $27.1M+2.6% | $26.4M+1.1% | $26.2M |
| 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 | $17.1M-0.3% | $17.2M+22.3% | $14.1M+9.9% | $12.8M+9.7% | $11.7M-1.7% | $11.9M+7.6% | $11.0M+6.5% | $10.4M |
| Operating Income | $307K+135.5% | -$865K+23.2% | -$1.1M-57.7% | -$714K-136.8% | $1.9M+388.8% | -$672K-633.3% | $126K-83.6% | $767K |
| Interest Expense | $1.4M-3.7% | $1.5M+19.0% | $1.3M+2.8% | $1.2M-6.1% | $1.3M+11.7% | $1.2M+0.9% | $1.2M+1.5% | $1.1M |
| Income Tax | -$1.3M+36.2% | -$2.0M-1464.9% | -$131K+50.4% | -$264K+25.8% | -$356K-1795.2% | $21K-79.8% | $104K+23.8% | $84K |
| Net Income | -$1.6M+34.3% | -$2.4M+23.8% | -$3.2M-2.4% | -$3.1M-110.3% | -$1.5M+36.4% | -$2.3M-5.7% | -$2.2M+6.1% | -$2.3M |
| EPS (Diluted) | N/A | $-0.10+23.1% | $-0.130.0% | $-0.13 | N/A | $-0.10-25.0% | $-0.08+11.1% | $-0.09 |
KFS Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $231.5M-1.5% | $235.1M+13.2% | $207.7M+8.1% | $192.1M+2.9% | $186.6M-2.4% | $191.1M-0.6% | $192.3M-2.8% | $198.0M |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $8.3M-10.6% | $9.3M-23.1% | $12.1M+89.6% | $6.4M+16.0% | $5.5M-15.6% | $6.5M-32.2% | $9.6M-20.8% | $12.1M |
| Inventory | $1.8M | N/A | N/A | N/A | $714K | $0 | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $69.1M-0.6% | $69.5M+20.8% | $57.5M+0.2% | $57.4M+1.6% | $56.5M-0.6% | $56.9M+12.0% | $50.8M+0.6% | $50.5M |
| Total Liabilities | $197.1M-1.1% | $199.3M+15.8% | $172.1M+0.8% | $170.7M+1.4% | $168.3M-1.8% | $171.4M-2.1% | $175.1M-1.2% | $177.3M |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $70.7M0.0% | $70.7M+21.2% | $58.3M-1.9% | $59.5M+3.4% | $57.5M-1.6% | $58.5M+23.7% | $47.3M+0.4% | $47.1M |
| Total Equity | $15.2M-8.9% | $16.6M-4.5% | $17.4M+219.9% | $5.5M-35.2% | $8.4M-15.3% | $9.9M-51.9% | $20.7M-12.4% | $23.6M |
| Retained Earnings | -$373.4M-0.5% | -$371.3M-0.8% | -$368.5M-1.0% | -$364.9M-1.0% | -$361.5M-0.5% | -$359.7M-2.3% | -$351.7M-0.7% | -$349.4M |
KFS Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$10K-100.7% | $1.5M+335.6% | $337K+118.7% | -$1.8M-1580.4% | -$107K-129.1% | $368K-33.9% | $557K+123.7% | $249K |
| 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 | $281K+101.7% | -$16.2M-54.5% | -$10.5M-229.8% | -$3.2M-629.8% | -$436K+97.5% | -$17.3M-1682.1% | $1.1M+760.2% | -$166K |
| Financing Cash Flow | -$829K-106.8% | $12.1M-22.6% | $15.7M+169.7% | $5.8M+497.8% | -$1.5M-110.3% | $14.2M+489.5% | -$3.6M-254.8% | $2.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | $0 | $0-100.0% | $345K | $0-100.0% | $1.6M+74.2% | $890K+1290.6% | $64K |
KFS Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 0.8%+3.1pp | -2.3%+1.3pp | -3.6%-1.1pp | -2.5%-9.1pp | 6.6%+9.0pp | -2.5%-3.0pp | 0.5%-2.5pp | 2.9% |
| Net Margin | -4.1%+2.4pp | -6.5%+3.8pp | -10.2%+0.7pp | -10.9%-6.0pp | -5.0%+3.6pp | -8.5%-0.3pp | -8.3%+0.6pp | -8.9% |
| Return on Equity | -10.4%+4.0pp | -14.5%+3.7pp | -18.1%+38.5pp | -56.7%-39.2pp | -17.5%+5.8pp | -23.3%-12.7pp | -10.6%-0.7pp | -9.9% |
| Return on Assets | -0.7%+0.4pp | -1.0%+0.5pp | -1.5%+0.1pp | -1.6%-0.8pp | -0.8%+0.4pp | -1.2%-0.1pp | -1.1%+0.0pp | -1.2% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 4.66+0.4 | 4.25+0.9 | 3.34-7.6 | 10.91+4.1 | 6.84+1.0 | 5.88+3.6 | 2.29+0.3 | 2.00 |
| 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 Kingsway Finl's annual revenue?
Kingsway Finl (KFS) reported $135.0M in total revenue for fiscal year 2025. This represents a 23.4% 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 Kingsway Finl's revenue growing?
Kingsway Finl (KFS) revenue grew by 23.4% year-over-year, from $109.4M to $135.0M in fiscal year 2025.
Is Kingsway Finl profitable?
No, Kingsway Finl (KFS) reported a net income of -$10.3M in fiscal year 2025, with a net profit margin of -7.6%.
What is Kingsway Finl's EBITDA?
Kingsway Finl (KFS) had EBITDA of $6.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Kingsway Finl have?
As of fiscal year 2025, Kingsway Finl (KFS) had $8.3M in cash and equivalents against $70.7M in long-term debt.
What is Kingsway Finl's operating margin?
Kingsway Finl (KFS) had an operating margin of -1.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Kingsway Finl's net profit margin?
Kingsway Finl (KFS) had a net profit margin of -7.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Kingsway Finl's return on equity (ROE)?
Kingsway Finl (KFS) has a return on equity of -67.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Kingsway Finl's operating cash flow?
Kingsway Finl (KFS) generated -$3K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Kingsway Finl's total assets?
Kingsway Finl (KFS) had $231.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Kingsway Finl's debt-to-equity ratio?
Kingsway Finl (KFS) had a debt-to-equity ratio of 4.66 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Kingsway Finl's return on assets (ROA)?
Kingsway Finl (KFS) had a return on assets of -4.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Kingsway Finl's cash runway?
Based on fiscal year 2025 data, Kingsway Finl (KFS) had $8.3M in cash against an annual operating cash burn of $3K. This gives an estimated cash runway of approximately 33224 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Kingsway Finl's Piotroski F-Score?
Kingsway Finl (KFS) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Kingsway Finl's earnings high quality?
Kingsway Finl (KFS) has an earnings quality ratio of 0.00x, 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 Kingsway Finl cover its interest payments?
Kingsway Finl (KFS) has an interest coverage ratio of -0.4x, 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.
How financially healthy is Kingsway Finl?
Kingsway Finl (KFS) scores 24 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.