Kinsale Capital Financials
This page shows Kinsale Capital (KNSL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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).
Rapid scaling has been supported by strong cash conversion, retained earnings, and mostly non-debt funding rather than heavier borrowing.
From FY2022 to FY2025, debt-to-equity fell from 0.26x to 0.11x even as ROE stayed above25.0% in the last three years and retained earnings climbed to$1.7B . That mix points to self-financed expansion: the company is compounding equity through earnings fast enough to reduce reliance on leverage while still keeping returns high.
Across FY2023-FY2025, operating cash flow ran at roughly twice net income, reaching
The balance sheet became larger, with assets at
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Kinsale Capital's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Kinsale Capital's revenue surged 18.0% year-over-year to $1.9B, reflecting rapid business expansion. This strong growth earns a score of 73/100.
Kinsale Capital carries a low D/E ratio of 0.11, meaning only $0.11 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Kinsale Capital converts 52.8% of revenue into free cash flow ($990.1M). This strong cash generation earns a score of 100/100.
Kinsale Capital earns a strong 25.7% return on equity (ROE), meaning it generates $26 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 71/100. This is down from 28.0% the prior year.
Kinsale Capital passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Kinsale Capital generates $2.07 in operating cash flow ($1.0B OCF vs $503.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Kinsale Capital generated $1.9B in revenue in fiscal year 2025. This represents an increase of 18.0% from the prior year.
Kinsale Capital reported $503.6M in net income in fiscal year 2025. This represents an increase of 21.4% from the prior year.
Kinsale Capital earned $21.65 per diluted share (EPS) in fiscal year 2025. This represents an increase of 21.8% from the prior year.
Cash & Balance Sheet
Kinsale Capital generated $990.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 4.0% from the prior year.
Kinsale Capital held $163.4M in cash against $224.4M in long-term debt as of fiscal year 2025.
Kinsale Capital paid $0.68 per share in dividends in fiscal year 2025. This represents an increase of 13.3% from the prior year.
Kinsale Capital had 23M shares outstanding in fiscal year 2025. This represents a decrease of 0.5% from the prior year.
Margins & Returns
Kinsale Capital's net profit margin was 26.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.7 percentage points from the prior year.
Kinsale Capital's ROE was 25.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.3 percentage points from the prior year.
Capital Allocation
Kinsale Capital spent $90.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 800.0% from the prior year.
Kinsale Capital invested $53.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 124.2% from the prior year.
KNSL Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $466.7M-3.4% | $483.3M-2.9% | $497.5M+5.9% | $469.8M+11.0% | $423.4M+2.7% | $412.1M-1.4% | $418.1M+8.7% | $384.6M |
| 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 | $32.6M-3.8% | $33.9M+1.8% | $33.3M+2.5% | $32.5M+11.3% | $29.2M-5.8% | $31.0M+12.3% | $27.6M+6.2% | $26.0M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $3.2M+6.2% | $3.0M+16.1% | $2.6M+0.5% | $2.6M+0.7% | $2.5M-0.8% | $2.6M-1.2% | $2.6M+1.0% | $2.6M |
| Income Tax | $27.1M-25.1% | $36.2M-2.8% | $37.2M+9.0% | $34.2M+48.0% | $23.1M-21.9% | $29.6M-2.0% | $30.2M+29.9% | $23.2M |
| Net Income | $112.6M-18.8% | $138.6M-2.1% | $141.6M+5.6% | $134.1M+50.3% | $89.2M-18.2% | $109.1M-4.5% | $114.2M+23.4% | $92.6M |
| EPS (Diluted) | $4.88 | N/A | $6.09+5.7% | $5.76+50.4% | $3.83 | N/A | $4.90+23.4% | $3.97 |
KNSL Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.2B+2.8% | $6.0B+3.6% | $5.8B+5.0% | $5.6B+6.5% | $5.2B+6.7% | $4.9B+3.3% | $4.7B+7.7% | $4.4B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $223.3M+36.7% | $163.4M-4.0% | $170.2M+23.2% | $138.1M-2.8% | $142.0M+25.5% | $113.2M+1.4% | $111.7M-34.7% | $171.0M |
| 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 | $4.2B+4.0% | $4.1B+2.9% | $4.0B+3.5% | $3.8B+5.6% | $3.6B+6.7% | $3.4B+3.2% | $3.3B+5.1% | $3.1B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $224.5M0.0% | $224.4M+12.6% | $199.3M+8.2% | $184.3M0.0% | $184.2M0.0% | $184.1M0.0% | $184.1M0.0% | $184.0M |
| Total Equity | $2.0B+0.4% | $2.0B+5.1% | $1.9B+8.3% | $1.7B+8.8% | $1.6B+6.7% | $1.5B+3.4% | $1.4B+14.1% | $1.3B |
| Retained Earnings | $1.8B+6.2% | $1.7B+8.5% | $1.6B+9.5% | $1.4B+9.9% | $1.3B+6.9% | $1.2B+9.4% | $1.1B+10.9% | $1.0B |
KNSL Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $248.9M+3.1% | $241.4M-20.5% | $303.5M+12.8% | $269.1M+17.1% | $229.8M+7.9% | $213.0M-22.3% | $274.0M-1.8% | $278.9M |
| Capital Expenditures | $7.5M-28.8% | $10.6M-23.9% | $13.9M-18.1% | $17.0M+40.2% | $12.1M+12.5% | $10.8M+85.1% | $5.8M+52.6% | $3.8M |
| Free Cash Flow | $241.3M+4.6% | $230.8M-20.3% | $289.5M+14.9% | $252.1M+15.8% | $217.6M+7.6% | $202.2M-24.6% | $268.2M-2.5% | $275.1M |
| Investing Cash Flow | -$114.4M+47.8% | -$219.4M+16.5% | -$262.6M-1.3% | -$259.3M-43.3% | -$181.0M+8.6% | -$198.0M+40.0% | -$329.9M-37.7% | -$239.7M |
| Financing Cash Flow | -$74.5M-158.5% | -$28.8M-227.3% | -$8.8M+35.8% | -$13.7M+31.4% | -$20.0M-49.0% | -$13.4M-292.0% | -$3.4M+22.0% | -$4.4M |
| Dividends Paid | $5.8M+48.5% | $3.9M-0.6% | $3.9M-0.1% | $3.9M-1.4% | $4.0M+14.9% | $3.5M-0.1% | $3.5M-0.4% | $3.5M |
| Share Buybacks | $62.5M+25.0% | $50.0M+150.0% | $20.0M+100.0% | $10.0M0.0% | $10.0M0.0% | $10.0M | $0 | $0 |
KNSL Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 24.1%-4.6pp | 28.7%+0.2pp | 28.5%-0.1pp | 28.5%+7.5pp | 21.1%-5.4pp | 26.5%-0.9pp | 27.3%+3.3pp | 24.1% |
| Return on Equity | 5.7%-1.3pp | 7.1%-0.5pp | 7.6%-0.2pp | 7.8%+2.1pp | 5.6%-1.7pp | 7.3%-0.6pp | 8.0%+0.6pp | 7.4% |
| Return on Assets | 1.8%-0.5pp | 2.3%-0.1pp | 2.4%+0.0pp | 2.4%+0.7pp | 1.7%-0.5pp | 2.2%-0.2pp | 2.4%+0.3pp | 2.1% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.110.0 | 0.110.0 | 0.110.0 | 0.110.0 | 0.120.0 | 0.120.0 | 0.13-0.0 | 0.15 |
| FCF Margin | 51.7%+3.9pp | 47.8%-10.4pp | 58.2%+4.5pp | 53.6%+2.2pp | 51.4%+2.3pp | 49.1%-15.1pp | 64.1%-7.4pp | 71.5% |
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Frequently Asked Questions
What is Kinsale Capital's annual revenue?
Kinsale Capital (KNSL) reported $1.9B in total revenue for fiscal year 2025. This represents a 18.0% 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 Kinsale Capital's revenue growing?
Kinsale Capital (KNSL) revenue grew by 18% year-over-year, from $1.6B to $1.9B in fiscal year 2025.
Is Kinsale Capital profitable?
Yes, Kinsale Capital (KNSL) reported a net income of $503.6M in fiscal year 2025, with a net profit margin of 26.9%.
How much debt does Kinsale Capital have?
As of fiscal year 2025, Kinsale Capital (KNSL) had $163.4M in cash and equivalents against $224.4M in long-term debt.
What is Kinsale Capital's net profit margin?
Kinsale Capital (KNSL) had a net profit margin of 26.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Kinsale Capital pay dividends?
Yes, Kinsale Capital (KNSL) paid $0.68 per share in dividends during fiscal year 2025.
What is Kinsale Capital's return on equity (ROE)?
Kinsale Capital (KNSL) has a return on equity of 25.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Kinsale Capital's free cash flow?
Kinsale Capital (KNSL) generated $990.1M in free cash flow during fiscal year 2025. This represents a 4.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Kinsale Capital's operating cash flow?
Kinsale Capital (KNSL) generated $1.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Kinsale Capital's total assets?
Kinsale Capital (KNSL) had $6.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Kinsale Capital's capital expenditures?
Kinsale Capital (KNSL) invested $53.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Kinsale Capital's debt-to-equity ratio?
Kinsale Capital (KNSL) had a debt-to-equity ratio of 0.11 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Kinsale Capital's return on assets (ROA)?
Kinsale Capital (KNSL) had a return on assets of 8.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Kinsale Capital's Piotroski F-Score?
Kinsale Capital (KNSL) has a Piotroski F-Score of 5 out of 9, indicating neutral 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Kinsale Capital's earnings high quality?
Kinsale Capital (KNSL) has an earnings quality ratio of 2.07x, considered cash-backed (high quality). 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.
How financially healthy is Kinsale Capital?
Kinsale Capital (KNSL) scores 57 out of 100 on our Financial Profile, indicating moderate 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.