What is Kingsway Financial Services, Inc.'s earnings per share (EPS)?

Kingsway Financial Services, Inc. (KFS) reported diluted earnings per share of -$0.43 for fiscal year 2025. This represents a -22.9% 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.

Kingsway Financial Services, Inc. (KFS) Financials

KFS

Trailing 12 months to March 31, 2026

Revenue $145.6M +30.5% YoY

Net Income $814K +205.4% YoY

EPS (Diluted) -$0.43 FY2025 annual

Operating Cash Flow $1.8M +282.3% YoY

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported May 7, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed May 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the KFS SEC filings page.

Kingsway Financial Services, Inc. (KFS) reported $145.6M in revenue over the twelve months to Mar 31, 2026, up 30.5% from the prior twelve months. This page shows its 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).

Rhea AI KFS FY2025 2026-10-04

The business is growing its top line, but cost growth and weak cash conversion are overwhelming operating progress and financial flexibility.

FY2025 revenue expanded 23.4%, but operating margin turned negative from the prior year's positive level, showing that added scale did not reach operating earnings. SG&A growth reached 36.3% over the same period, making cost expansion a clearer explanation for the margin reversal than volume weakness alone.

The earnings-to-cash relationship is unstable: EBITDA was $6.8M in FY2025, yet operating cash flow was -$3K, following negative operating cash flow in FY2023. That gap means reported operating performance is not reliably becoming cash available to fund operations.

Balance-sheet flexibility is limited: the 0.9x current ratio means current assets were below current liabilities at FY2025 year-end. Meanwhile, $197.1M of liabilities stood against just $15.2M of equity, leaving obligations as the dominant financing base rather than shareholder capital.

Financial Health Signals

Financial Health Score 26/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Kingsway Financial Services, Inc.'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.

Profitability

Kingsway Financial Services, Inc. has an operating margin of -1.8%, meaning the company loses $2 on every $100 of revenue. This results in a profitability score of 30/100. This is down from 2.0% the prior year.

Growth

Kingsway Financial Services, Inc.'s revenue surged 23.4% year-over-year to $135.0M, reflecting rapid business expansion. This strong growth earns a score of 74/100.

Leverage

Kingsway Financial Services, Inc. has elevated debt relative to equity (D/E of 3.89), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 7/100, reflecting increased financial risk.

Liquidity

Kingsway Financial Services, Inc.'s current ratio of 0.92 is below the typical benchmark, resulting in a score of 15/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Not available for Kingsway Financial Services, Inc., and counted as zero in the overall score.

Returns

Kingsway Financial Services, Inc. posts a -0.1% return on equity (ROE), meaning it loses less than $1 for every $100 of shareholders' equity. This results in a returns score of 29/100. This is unchanged from the prior year.

Altman Z-Score Distress

-0.81

Kingsway Financial Services, Inc. scores -0.81, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($306.6M) relative to total liabilities ($197.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

3/7

Kingsway Financial Services, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality No Cash Backing

N/A

Kingsway Financial Services, Inc. reported a net loss of $10K while operations used $3K of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Kingsway Financial Services, Inc. reported an operating loss of $2.4M against $5.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$39.0M

YoY+37.4%

QoQ+1.0%

5Y CAGR+12.2%

10Y CAGR+0.5%

Kingsway Financial Services, Inc. generated $39.0M in revenue in Q1 2026. This represents an increase of 37.4% from the same quarter a year earlier. Against the prior quarter it is up 1.0%.

EBITDA

$3.0M

YoY+165.9%

Kingsway Financial Services, Inc.'s EBITDA was $3.0M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 165.9% from the same quarter a year earlier.

Net Income

-$2.3M

YoY+26.6%

QoQ-126.2%

Kingsway Financial Services, Inc. reported -$2.3M in net income in Q1 2026. This represents an increase of 26.6% from the same quarter a year earlier. Against the prior quarter it is down 126.2%.

EPS (Diluted)

-$0.10

YoY+23.1%

Kingsway Financial Services, Inc. earned -$0.10 per diluted share (EPS) in Q1 2026. This represents an increase of 23.1% from the same quarter a year earlier.

Cash & Balance Sheet

Free Cash Flow

-$398K

YoY+78.6%

Kingsway Financial Services, Inc. recorded an outflow of $398K in free cash flow in Q1 2026, representing a cash shortfall after capex. This represents an increase of 78.6% from the same quarter a year earlier.

Cash & Debt

$7.3M

YoY+14.1%

QoQ-12.5%

5Y CAGR-14.0%

10Y CAGR-15.9%

Kingsway Financial Services, Inc. held $7.3M in cash against $55.3M in long-term debt as of Q1 2026.

Shares Outstanding

29M

YoY+5.1%

QoQ+1.1%

5Y CAGR+4.7%

10Y CAGR+3.8%

Kingsway Financial Services, Inc. had 29M shares outstanding in Q1 2026. This represents an increase of 5.1% from the same quarter a year earlier. Against the prior quarter it is up 1.1%.

Dividends Per Share

Not reported for Q1 2026.

Margins & Returns

Gross Margin

44.5%

YoY+1.6pp

Kingsway Financial Services, Inc.'s gross margin was 44.5% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is up 1.6 percentage points from the same quarter a year earlier.

Operating Margin

1.2%

YoY+3.8pp

QoQ+0.4pp

5Y change-2.5pp

Kingsway Financial Services, Inc.'s operating margin was 1.2% in Q1 2026, reflecting core business profitability. This is up 3.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.4 percentage points.

Net Margin

-5.8%

YoY+5.1pp

QoQ-28.3pp

5Y change-9.9pp

10Y change-1.7pp

Kingsway Financial Services, Inc.'s net profit margin was -5.8% in Q1 2026, showing the share of revenue converted to profit. This is up 5.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 28.3 percentage points.

Return on Equity

-17.3%

YoY+39.4pp

QoQ-74.3pp

Kingsway Financial Services, Inc.'s ROE was -17.3% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is up 39.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 74.3 percentage points.

Capital Allocation

Share Buybacks

YoY-100.0%

Kingsway Financial Services, Inc. repurchased no shares in Q1 2026. This represents a decrease of 100.0% from the same quarter a year earlier.

Capital Expenditures

$390K

YoY+519.0%

Kingsway Financial Services, Inc. invested $390K in capex in Q1 2026, funding long-term assets and infrastructure. This represents an increase of 519.0% from the same quarter a year earlier.

R&D Spending

Not reported for Q1 2026.

KFS Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

KFS quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$145.6M	$135.0M+23.4%	$109.4M+5.9%	$103.2M+10.7%	$93.3M+19.0%	$78.4M+28.6%	$61.0M+1.7%	$59.9M+15.1%	$52.1M+16.8%	$44.6M-74.8%	$176.6M+10.4%	$160.0M+1.1%	$158.2M-8.2%	$172.3M+7.9%	$159.6M-30.2%	$228.5M
SG&A Expenses	$65.0M	$61.2M+36.3%	$44.9M+7.5%	$41.8M-3.9%	$43.5M-3.8%	$45.2M+7.5%	$42.1M+16.1%	$36.3M+22.0%	$29.7M+8.9%	$27.3M-34.4%	$41.6M-0.3%	$41.8M+0.4%	$41.6M-47.9%	$79.8M+8.1%	$73.9M-5.2%	$77.9M
Operating Income	-$1.2M	-$2.4M-210.9%	$2.2M+126.6%	$954K+126.7%	-$3.6M-653.8%	-$474K+90.9%	-$5.2M-270.5%	-$1.4M+38.6%	-$2.3M-133.8%	$6.8M+195.9%	-$7.1M-298.3%	-$1.8M-218.6%	$1.5M+111.1%	-$13.5M+45.1%	-$24.6M	N/A
EBITDA	N/A	$6.8M-25.5%	$9.2M+27.7%	$7.2M+149.4%	$2.9M-37.4%	$4.6M+204.8%	$1.5M-72.6%	$5.5M+24.7%	$4.4M-63.7%	$12.2M+383.7%	-$4.3M-6227.1%	$70K-97.9%	$3.3M+134.0%	-$9.7M+55.4%	-$21.6M	N/A
Interest Expense	$5.6M	$5.4M+13.8%	$4.8M-23.4%	$6.3M-22.8%	$8.1M+31.3%	$6.2M-20.2%	$7.7M-14.1%	$9.0M+21.4%	$7.4M+16.7%	$6.3M+41.2%	$4.5M-14.8%	$5.3M-6.5%	$5.6M-22.3%	$7.3M-4.9%	$7.6M+2.1%	$7.5M
Income Tax	-$3.5M	-$3.8M-2452.4%	-$147K+92.3%	-$1.9M-139.4%	$4.8M+223.2%	-$3.9M-251.2%	-$1.1M-207.2%	-$363K-215.2%	$315K+101.9%	-$16.7M-71.7%	-$9.7M-10551.6%	$93K+107.6%	-$1.2M-1722.4%	-$67K-102.2%	$3.0M+1885.2%	-$169K
Net Income	$814K	-$10K-23.6%	-$8K-134.5%	$24K-99.8%	$15.1M+709.9%	$1.9M+123.9%	-$7.8M-12.8%	-$6.9M+77.5%	-$30.7M-81.3%	-$16.9M-3345.6%	$522K-58.9%	$1.3M+109.9%	-$12.8M+65.2%	-$36.9M+29.2%	-$52.1M-158.6%	-$20.1M
EPS (Basic)	N/A	-$0.43-22.9%	-$0.35-138.5%	$0.91-14.2%	$1.06+2750.0%	-$0.04+88.6%	-$0.35-9.4%	-$0.32+77.3%	-$1.41-78.5%	-$0.79-8000.0%	$0.01-75.0%	$0.04+105.3%	-$0.75+71.3%	-$2.61+35.6%	-$4.05-93.8%	-$2.09
EPS (Diluted)	—	-$0.43-22.9%	-$0.35-139.3%	$0.89	$0.98+2550.0%	-$0.04+88.6%	-$0.35-9.4%	-$0.32+77.3%	-$1.41-78.5%	-$0.79	$0.01	$0.04	-$0.75+71.3%	-$2.61+35.6%	-$4.05-93.8%	-$2.09
Diluted Shares (Avg)	N/A	28M+2.5%	27M+2.8%	26M	25M+12.3%	23M+1.6%	22M+1.4%	22M+0.6%	22M+0.8%	22M	20M	20M	17M+23.3%	14M+7.3%	13M+0.5%	13M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Revenue	$39.0M+37.4%	$38.6M+30.1%	$37.2M+37.0%	$30.9M+16.9%	$28.3M+8.4%	$29.6M+14.6%	$27.1M+9.5%	$26.4M+1.0%
Gross Profit	$17.3M+42.7%	N/A	N/A	N/A	$12.2M	N/A	N/A	N/A
SG&A Expenses	$16.5M+29.9%	$17.2M+47.6%	$17.2M+45.0%	$14.1M+27.5%	$12.7M+22.9%	$11.7M+2.2%	$11.9M+15.0%	$11.0M+11.8%
Operating Income	$485K+167.9%	$307K-84.2%	-$865K-28.7%	-$1.1M-993.7%	-$714K-193.1%	$1.9M+661.2%	-$672K-223.1%	$126K-67.9%
EBITDA	$3.0M+165.9%	N/A	N/A	N/A	$1.1M-51.8%	N/A	N/A	$1.8M-6.3%
Interest Expense	$1.4M+14.7%	$1.4M+10.6%	$1.5M+28.3%	$1.3M+8.9%	$1.2M+7.4%	$1.3M+15.8%	$1.2M+10.6%	$1.2M+7.0%
Income Tax	-$47K+82.2%	-$1.3M-267.1%	-$2.0M-9861.9%	-$131K-226.0%	-$264K-414.3%	-$356K+86.9%	$21K+120.6%	$104K-51.2%
Net Income	-$2.3M+26.6%	$8.7M+27.0%	-$2.4M-4.3%	-$3.2M-44.8%	-$3.1M-32.8%	$6.8M+126.8%	-$2.3M-242.4%	-$2.2M-31.1%
EPS (Basic)	-$0.10+23.1%	N/A	-$0.100.0%	-$0.13-62.5%	-$0.13-44.4%	N/A	-$0.10-150.0%	-$0.08-33.3%
EPS (Diluted)	-$0.10+23.1%	N/A	-$0.100.0%	-$0.13-62.5%	-$0.13-44.4%	N/A	-$0.10-150.0%	-$0.08-33.3%
Diluted Shares (Avg)	29M+5.6%	N/A	29M+4.8%	27M-0.4%	27M0.0%	N/A	27M+3.7%	27M+8.0%

Not reported in any period shown, so not listed: Cost of Revenue, R&D Expenses.

KFS Balance Sheet

KFS quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$231.5M+24.1%	$186.6M-5.6%	$197.7M-30.8%	$285.6M-39.9%	$475.6M+5.1%	$452.5M+13.2%	$399.6M+5.7%	$378.2M-25.4%	$506.7M+1.1%	$501.0M+107.9%	$241.0M-20.1%	$301.7M-7.1%	$324.6M-12.9%	$372.8M-0.3%	$374.1M
Current Assets	$76.5M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$8.3M+51.2%	$5.5M-39.6%	$9.1M-85.8%	$64.2M+536.3%	$10.1M-29.8%	$14.4M+6.6%	$13.5M-7.8%	$14.6M+171.9%	$5.4M-85.3%	$36.5M-29.5%	$51.7M-27.4%	$71.2M-26.9%	$97.5M+20.7%	$80.8M-5.5%	$85.5M
Short-Term Investments	$178K	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Inventory	$1.8M+146.8%	$714K	N/A	N/A	N/A	N/A	N/A	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	$9.5M+31.4%	$7.2M+119.7%	$3.3M-12.9%	$3.8M-26.4%	$5.1M	N/A	N/A	N/A
Goodwill	$69.1M+22.3%	$56.5M+12.2%	$50.4M+10.7%	$45.5M-7.6%	$49.3M-59.3%	$121.1M+47.5%	$82.1M+10.0%	$74.7M-7.6%	$80.8M+13.8%	$71.1M+605.1%	$10.1M0.0%	$10.1M-4.8%	$10.6M+25.7%	$8.4M+1551.2%	$510K
Total Liabilities	$197.1M+17.1%	$168.3M-2.8%	$173.1M-34.3%	$263.5M-42.8%	$460.9M+6.2%	$433.8M+14.5%	$378.9M+8.8%	$348.2M-22.8%	$450.8M+3.0%	$437.8M+129.3%	$190.9M-24.7%	$253.5M-11.9%	$287.7M-6.4%	$307.4M+19.3%	$257.7M
Current Liabilities	$83.6M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Non-Current Liabilities	$113.5M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$59.0M+2.5%	$57.5M+29.5%	$44.4M-56.5%	$102.1M+8.5%	$94.1M-64.9%	$268.3M+3.8%	$258.5M+2.1%	$253.3M+3.7%	$244.1M+4.5%	$233.7M+485.7%	$39.9M-26.5%	$54.3M-5.9%	$57.7M-5.7%	$61.2M+591.5%	$8.8M
Total Equity	$15.2M+80.3%	$8.4M-69.6%	$27.7M+76.8%	$15.7M+373.8%	-$5.7M-186.5%	-$2.0M-328.6%	$874K-93.0%	$12.5M-69.9%	$41.4M-26.1%	$56.0M+33.5%	$42.0M+12.0%	$37.5M+5.6%	$35.5M-45.5%	$65.1M-47.3%	$123.4M
Retained Earnings	-$373.4M-3.3%	-$361.5M-4.2%	-$346.9M+6.4%	-$370.4M+6.3%	-$395.1M-0.1%	-$394.8M-1.7%	-$388.1M-1.5%	-$382.2M-22.9%	-$311.0M-4.5%	-$297.7M-0.2%	-$297.2M+1.3%	-$301.0M-0.7%	-$298.9M-14.1%	-$262.1M-30.2%	-$201.2M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Total Assets	$232.2M+20.9%	$231.5M+24.1%	$235.1M+23.0%	$207.7M+8.0%	$192.1M-3.0%	$186.6M-5.6%	$191.1M-3.5%	$192.3M-1.5%
Current Assets	$78.1M	$76.5M	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$7.3M+14.1%	$8.3M+51.2%	$9.3M+42.8%	$12.1M+25.9%	$6.4M-47.4%	$5.5M-39.6%	$6.5M-67.8%	$9.6M-32.3%
Inventory	N/A	$1.8M+146.8%	N/A	N/A	N/A	$714K	$0	N/A
Goodwill	$69.8M+21.6%	$69.1M+22.3%	$69.5M+22.2%	$57.5M+13.3%	$57.4M+13.8%	$56.5M+12.2%	$56.9M0.0%	$50.8M+11.6%
Total Liabilities	$199.6M+17.0%	$197.1M+17.1%	$199.3M+16.3%	$172.1M-1.7%	$170.7M-3.8%	$168.3M-2.8%	$171.4M+0.9%	$175.1M+1.0%
Current Liabilities	$85.0M	$83.6M	N/A	N/A	N/A	N/A	N/A	N/A
Non-Current Liabilities	$114.6M	$113.5M	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$55.3M-7.0%	$59.0M+2.5%	$70.7M+21.0%	$58.3M+23.4%	$59.5M+26.4%	$57.5M+29.5%	$58.5M+42.8%	$47.3M+12.4%
Total Equity	$13.2M+141.2%	$15.2M+80.3%	$16.6M+67.5%	$17.4M-15.6%	$5.5M-76.9%	$8.4M-69.6%	$9.9M-68.5%	$20.7M-18.3%
Retained Earnings	-$376.2M-3.1%	-$373.4M-3.3%	-$371.3M-3.2%	-$368.5M-4.8%	-$364.9M-4.4%	-$361.5M-4.2%	-$359.7M-4.2%	-$351.7M-2.2%

Not reported in any period shown, so not listed: Short-Term Investments, Accounts Receivable, Long-Term Investments.

KFS Cash Flow Statement

KFS quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$1.8M	-$3K-100.3%	$1.1M+104.1%	-$26.2M-79.7%	-$14.6M-146.7%	-$5.9M-453.3%	$1.7M+120.3%	$759K+107.5%	-$10.1M+29.6%	-$14.4M+7.6%	-$15.6M+52.5%	-$32.8M-100.8%	-$16.3M+60.9%	-$41.8M+10.5%	-$46.7M+38.6%	-$76.1M
Depreciation & Amortization	N/A	$9.2M+31.8%	$7.0M+12.5%	$6.2M-3.6%	$6.4M+27.3%	$5.1M-24.7%	$6.7M-2.7%	$6.9M+3.1%	$6.7M+24.5%	$5.4M+93.9%	$2.8M+50.7%	$1.8M+3.2%	$1.8M-53.4%	$3.8M+29.9%	$3.0M+30.1%	$2.3M
Stock-Based Compensation	N/A	$1.7M-3.6%	$1.8M+8.9%	$1.6M-59.6%	$4.1M+12.6%	$3.6M+166.3%	$1.4M+9.8%	$1.2M+174.1%	-$1.7M-240.1%	$1.2M+16.8%	$1.0M+26.6%	$802K-35.3%	$1.2M+281.2%	$325K-8.2%	$354K+1056.8%	-$37K
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	$830K+289.7%	$213K	N/A	N/A	N/A	$645K+217.7%	$203K-95.6%	-$4.7M+313.5%	$1.1M+562.4%	$170K-87.4%	$1.3M
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	-$6.7M-561.8%	$1.5M	N/A	N/A	N/A	-$16.2M+50.8%	-$33.0M-57.2%	-$21.0M+51.1%	-$42.9M+8.4%	-$46.9M+39.5%	-$77.5M
Investing Cash Flow	-$27.4M	-$29.6M-75.8%	-$16.8M-360.9%	$6.5M-93.6%	$100.9M+1274.0%	-$8.6M-314.5%	$4.0M+162.0%	-$6.5M-132.3%	$20.0M-0.3%	$20.1M+329.2%	-$8.8M-133.5%	$26.2M+256.8%	-$16.7M-127.8%	$60.0M	N/A	N/A
Financing Cash Flow	$26.7M	$32.7M+186.2%	$11.4M+128.6%	-$40.0M-5.4%	-$37.9M-6924.4%	-$540K-104.0%	$13.6M+940.0%	$1.3M+132.0%	-$4.1M-288.3%	$2.2M-76.2%	$9.1M+170.7%	-$12.9M-290.6%	$6.8M+1650.8%	-$437K+88.9%	-$3.9M+50.3%	-$7.9M
Dividends Paid	N/A	N/A	N/A	$0	$0	$0	$0-100.0%	$1.0M+64.4%	$620K	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0	$345K-86.2%	$2.5M-21.8%	$3.2M	$0	N/A	N/A	N/A	N/A	$0-100.0%	$125K	$0	$0	N/A	N/A	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Operating Cash Flow	-$8K+99.6%	-$10K+90.7%	$1.5M+298.9%	$337K-39.5%	-$1.8M-822.1%	-$107K+88.5%	$368K+144.1%	$557K+134.0%
Depreciation & Amortization	$2.5M+35.4%	N/A	N/A	N/A	$1.8M+18.6%	N/A	N/A	$1.7M+9.7%
Stock-Based Compensation	$320K-24.0%	N/A	$600K-33.3%	$300K0.0%	$421K+31.6%	N/A	$900K	$300K
Capital Expenditures	$390K+519.0%	N/A	N/A	N/A	$63K	N/A	N/A	N/A
Free Cash Flow	-$398K+78.6%	N/A	N/A	N/A	-$1.9M	N/A	N/A	N/A
Investing Cash Flow	-$994K+68.8%	$281K+164.4%	-$16.2M+6.5%	-$10.5M-1057.5%	-$3.2M-1816.9%	-$436K+95.7%	-$17.3M-1203.8%	$1.1M-87.7%
Financing Cash Flow	-$220K-103.8%	-$829K+43.2%	$12.1M-14.6%	$15.7M+529.6%	$5.8M+146.6%	-$1.5M-160.5%	$14.2M+196.4%	-$3.6M-14.9%
Share Buybacks	$0-100.0%	$0	$0-100.0%	$0-100.0%	$345K+439.1%	$0-100.0%	$1.6M+106.4%	$890K+1645.1%

Not reported in any period shown, so not listed: Dividends Paid.

KFS Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

KFS quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Margin	-1.8%-3.8pp	2.0%+1.1pp	0.9%+4.8pp	-3.8%-3.2pp	-0.6%+8.0pp	-8.6%-6.2pp	-2.4%+2.0pp	-4.4%-19.6pp	15.2%+19.2pp	-4.0%-2.9pp	-1.1%-2.1pp	0.9%+8.8pp	-7.8%+7.6pp	-15.4%	N/A
Net Margin	0.0%0.0pp	0.0%0.0pp	0.0%-16.1pp	16.2%+13.8pp	2.4%+15.2pp	-12.8%-1.3pp	-11.5%+47.5pp	-59.0%-21.0pp	-38.0%-38.3pp	0.3%-0.5pp	0.8%+8.9pp	-8.1%+13.3pp	-21.4%+11.2pp	-32.6%-23.8pp	-8.8%
Return on Equity	-0.1%0.0pp	-0.1%-0.2pp	0.1%-96.0pp	96.1%	N/A	N/A	-790.0%-543.5pp	-246.5%-205.6pp	-41.0%-41.9pp	0.9%-2.1pp	3.0%+37.2pp	-34.2%+69.7pp	-103.9%-23.9pp	-80.0%-63.7pp	-16.3%
Return on Assets	0.0%0.0pp	0.0%0.0pp	0.0%-5.3pp	5.3%+4.9pp	0.4%+2.1pp	-1.7%0.0pp	-1.7%+6.4pp	-8.1%-4.8pp	-3.3%-3.4pp	0.1%-0.4pp	0.5%+4.8pp	-4.3%+7.1pp	-11.3%+2.6pp	-14.0%-8.6pp	-5.4%
Current Ratio	0.92	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	3.89-2.9x	6.84+5.2x	1.60-4.9x	6.51	N/A	N/A	295.80+275.5x	20.32+14.4x	5.90+1.7x	4.17+3.2x	0.95-0.5x	1.45-0.2x	1.63+0.7x	0.94+0.9x	0.07
Asset Turnover	0.580.0x	0.59+0.1x	0.52+0.2x	0.33+0.2x	0.160.0x	0.130.0x	0.150.0x	0.140.0x	0.09-0.3x	0.35-0.3x	0.66+0.1x	0.520.0x	0.53+0.1x	0.43-0.2x	0.61
FCF Margin	N/A	N/A	N/A	N/A	-8.6%-11.0pp	2.4%	N/A	N/A	N/A	-9.2%+11.4pp	-20.6%-7.4pp	-13.3%+11.6pp	-24.9%+4.5pp	-29.4%+4.5pp	-33.9%

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Gross Margin	44.5%+1.6pp	N/A	N/A	N/A	42.9%	N/A	N/A	N/A
Operating Margin	1.2%+3.8pp	0.8%-5.8pp	-2.3%+0.1pp	-3.6%-4.1pp	-2.5%-5.5pp	6.6%+5.6pp	-2.5%-1.6pp	0.5%-1.0pp
Net Margin	-5.8%+5.1pp	22.5%-0.5pp	-6.5%+2.0pp	-10.2%-2.0pp	-10.9%-2.0pp	23.0%+121.5pp	-8.5%-5.8pp	-8.3%-1.9pp
Return on Equity	-17.3%+39.4pp	57.1%-24.0pp	-14.5%+8.8pp	-18.1%-7.6pp	-56.7%-46.8pp	81.0%+173.0pp	-23.3%-21.1pp	-10.6%-4.0pp
Return on Assets	-1.0%+0.6pp	3.7%+0.1pp	-1.0%+0.2pp	-1.5%-0.4pp	-1.6%-0.4pp	3.6%+16.5pp	-1.2%-0.9pp	-1.1%-0.3pp
Current Ratio	0.92	0.92	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	4.21-6.7x	3.89-2.9x	4.25-1.6x	3.34+1.1x	10.91+8.9x	6.84+5.2x	5.88+4.6x	2.29+0.6x
Asset Turnover	0.170.0x	0.170.0x	0.160.0x	0.150.0x	0.150.0x	0.160.0x	0.140.0x	0.140.0x
FCF Margin	-1.0%+5.5pp	N/A	N/A	N/A	-6.6%	N/A	N/A	N/A

Note: The current ratio is below 1.0 (0.92), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Kingsway Financial Services, Inc. KFS	FY2025	$135.0M	-$10K	0.0%	$306.6M	26/100
Uxin Limited UXIN	FY2025	$463.3M	-$37.5M	-8.1%	$222.2M	24/100
Camping World Holdings, Inc. CWH	FY2025	$6.4B	-$105.6M	-1.7%	$287.9M	29/100
ACV Auctions Inc. ACVA	FY2025	$759.6M	-$66.1M	-8.7%	$1.8B	48/100
America's Car Mart Inc CRMT	FY2026	$1.3B	-$139.2M	-10.9%	$8.7M	12/100
Mister Car Wash, Inc. MCW	FY2025	$1.1B	$103.1M	9.8%	$2.3B	38/100

Where Kingsway Financial Services, Inc. Ranks

Frequently Asked Questions

What is Kingsway Financial Services, Inc.'s annual revenue?

Kingsway Financial Services, Inc. (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 Financial Services, Inc.'s revenue growing?

Kingsway Financial Services, Inc. (KFS) revenue grew by 23.4% year-over-year, from $109.4M to $135.0M in fiscal year 2025.

Is Kingsway Financial Services, Inc. profitable?

No, Kingsway Financial Services, Inc. (KFS) reported a net income of -$10K in fiscal year 2025, with a net profit margin of 0.0%.

What is Kingsway Financial Services, Inc.'s EBITDA?

Kingsway Financial Services, Inc. (KFS) had EBITDA of $6.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Kingsway Financial Services, Inc. have?

As of fiscal year 2025, Kingsway Financial Services, Inc. (KFS) had $8.3M in cash and equivalents against $59.0M in long-term debt.

What is Kingsway Financial Services, Inc.'s operating margin?

Kingsway Financial Services, Inc. (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 Financial Services, Inc.'s net profit margin?

Kingsway Financial Services, Inc. (KFS) had a net profit margin of 0.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Kingsway Financial Services, Inc.'s return on equity (ROE)?

Kingsway Financial Services, Inc. (KFS) has a return on equity of -0.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Kingsway Financial Services, Inc.'s operating cash flow?

Kingsway Financial Services, Inc. (KFS) recorded an outflow of $3K in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Kingsway Financial Services, Inc.'s total assets?

Kingsway Financial Services, Inc. (KFS) had $231.5M in total assets as of fiscal year 2025, including both current and long-term assets.

Does Kingsway Financial Services, Inc. buy back shares?

Yes, Kingsway Financial Services, Inc. (KFS) spent $345K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Kingsway Financial Services, Inc. have outstanding?

Kingsway Financial Services, Inc. (KFS) had 29M shares outstanding as of fiscal year 2025.

What is Kingsway Financial Services, Inc.'s current ratio?

Kingsway Financial Services, Inc. (KFS) had a current ratio of 0.92 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Kingsway Financial Services, Inc.'s debt-to-equity ratio?

Kingsway Financial Services, Inc. (KFS) had a debt-to-equity ratio of 3.89 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Kingsway Financial Services, Inc.'s return on assets (ROA)?

Kingsway Financial Services, Inc. (KFS) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Kingsway Financial Services, Inc.'s Altman Z-Score?

Kingsway Financial Services, Inc. (KFS) has an Altman Z-Score of -0.81, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Kingsway Financial Services, Inc.'s Piotroski F-Score?

Kingsway Financial Services, Inc. (KFS) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Kingsway Financial Services, Inc.'s earnings high quality?

Kingsway Financial Services, Inc. (KFS) reported a net loss of $10K while operations used $3K of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Financial Services, Inc. cover its interest payments?

Kingsway Financial Services, Inc. (KFS) reported an operating loss of $2.4M against $5.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 Financial Services, Inc.?

Kingsway Financial Services, Inc. (KFS) scores 26 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.