Kingsway (KWY) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Kingsway

NYSE•Financial Services•Asset Management

$10.32+0.24(0.02%)Market closed

Market Cap

$276.44M

P/S

1.8x

P/B

18.0x

Kingsway Corporation through its subsidiaries, engages in the extended warranty and business services in the United States. It operates through two segments: Kingsway Search Xcelerator and Extended Warranty. The Extended Warranty segment markets, sells, and administers vehicle service agreements and related products for new and used automobiles, motorcycles, and ATVs. This segment also markets and distributes warranty products to manufacturers, distributors, and installers of heating, ventilation and air conditioning, standby generator, commercial LED lighting, and commercial refrigeration equipment; and provides equipment breakdown and maintenance support services to companies, as well as after-market vehicle protection services. Its Kingsway Search Xcelerator segment offers finance and human resources consulting services, including operational accounting, such as bookkeeping, accounting, financial reporting, and analysis and strategic finance services; technical accounting comprising initial public offerings, Securities and Exchange Commission reporting, and international consolidation services; human resources, workforce management, and compliance support services; and advisory services. This segment also provides financial executive services for project and interim staffing engagements; search services for permanent placements; healthcare staffing services; software products for the management needs of all types of shared-ownership properties; and fully managed outsourced cardiac telemetry services, as well as provides mobile monitors to the hospitals. It also offers information technology managed services, as well as Electric Motor Solutions and Vertical Market Software services. The company offers its products and services through credit unions and dealers. The company was formerly known as Kingsway Financial Services Inc. and changed its name to Kingsway Corporation in May 2026. The company was incorporated in 1989 and is headquartered in Chicago, Illinois.

How this company scores

AverageMetricSide Score: 50/100

Strongest: Growth (18/25); weakest: Balance Sheet & Red Flags (8/25).

Profitability11/25

Growth18/25

Balance Sheet & Red Flags8/25

Cash & Earnings Quality13/25

Strengths

Growing revenueConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 9.5x5y range 4.6x – 66.8x

Currently near its 7-quarter median.

P/S · 1.8x5y range 1.3x – 3.3x

Currently near its 20-quarter median.

P/B · 18.0x5y range 3.7x – 29.7x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $276.44M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $154.13M
Q. Revenue: $39.44M
TTM EBITDA: $10.36M
TTM Op. Income: $-182,000
Q. Op. Income: $-109,000
TTM Net Income: $-6.11M
Q. Net Income: $157,000
EPS: $-0.03
Shares Out.: $28.62M

$154.13M in TTM revenue grew 32.8% YoY, reaching $39.44M last quarter. TTM EBITDA of $10.36M and TTM operating income of $-182,000 show growth is flowing through to the bottom line. However, net income is negative at $6.11M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 43.4%
EBITDA Margin: 6.2%
Op. Margin: -0.3%
Net Margin: 0.4%

Op. margin of -0.3% is up 3.4% YoY — cost efficiency is improving. Net margin at 0.4% and gross margin of 43.4% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 92% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 1.8x
P/B Ratio: 18.0x

P/S of 1.8x and P/B of 18.0x. P/S is low relative to typical market levels.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $227.83M
Cash: $7.37M
Long-Term Debt: $44.50M
Book Value: $15.34M
D/E Ratio: 2.9
Debt/EBITDA: 18.3

With $227.83M in assets and $44.50M in long-term debt, D/E is 2.9and book value is $15.34M — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.20M
TTM Free Cash Flow: $1.63M
FCF Margin: 1.1%
FCF / Net Income: -0.3

TTM FCF of $1.63M on $1.20M in operating cash flow. The FCF / Net Income ratio of -0.3x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has risen for 5 consecutive quarters — an improving trend.