Kestrel Group, Ltd. (KG) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Nov 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q3 FY2026, filed Nov 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the KG SEC filings page.
Kestrel Group, Ltd. (KG) reported $31.8M in revenue over the twelve months to Sep 30, 2026. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 2 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).
The numbers show a balance-sheet-heavy business where reported profit is disconnected from cash generation and operating scale.
FY2025 assets reached$1.01B against revenue of$34.0M , making balance-sheet transformation—not sales—the dominant economic event. With liabilities of$881.7M against equity of$128.3M , the resulting structure is heavily creditor-funded and leaves reported returns sensitive to financing and non-operating effects.
FY2025 net income of
SG&A consumed
Financial Health Signals
Scored against insurers for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 4 of 6, with the others left out rather than counted as zero. 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 Kestrel Group, Ltd.'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.
Loss Ratio measures the claims an insurer paid out against the premiums it earned, so a lower ratio leaves more of every premium dollar with the company. Kestrel Group, Ltd. scores 33/100 on it among other insurers.
Not available for Kestrel Group, Ltd., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Kestrel Group, Ltd. funded 12.7% of its assets with shareholders' equity at the end of fiscal year 2025, holding $128.3M of equity against $1.0B of assets. Capital ranks insurers on that cushion, and Kestrel Group, Ltd. scores 24/100 among other insurers.
Not available for Kestrel Group, Ltd., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Combined Ratio puts claims and running costs together against premiums earned, and a figure under 100% means the underwriting made money before any investment income was counted. Kestrel Group, Ltd. scores 46/100 on it among other insurers.
Kestrel Group, Ltd. reported net income of $46.7M in fiscal year 2025, against a loss of $1.3M in fiscal year 2024. Stability ranks insurers on how steady net income has been across five years, and Kestrel Group, Ltd. scores 32/100 among other insurers.
Kestrel Group, Ltd. passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), the one computable operating efficiency signal (asset turnover improving) does not pass.
Key Financial Metrics
Earnings & Revenue
Kestrel Group, Ltd. generated $4.8M in revenue in Q3 2026. This represents a decrease of 72.7% from the same quarter a year earlier. Against the prior quarter it is down 28.8%.
Kestrel Group, Ltd. reported a net loss of $16.4M in Q3 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Kestrel Group, Ltd. earned -$2.09 per diluted share (EPS) in Q3 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q3 2026.
Cash & Balance Sheet
Kestrel Group, Ltd. held $26.9M in cash against $175.4M in long-term debt as of Q3 2026.
Not reported for Q3 2026.
Not reported for Q3 2026.
Margins & Returns
Kestrel Group, Ltd.'s quarterly ROE was -16.7% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is down 13.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 9.6 percentage points.
Not reported for Q3 2026.
Not reported for Q3 2026.
Not shown for Q3 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Kestrel Group, Ltd. spent $44K on share buybacks in Q3 2026, returning capital to shareholders by reducing shares outstanding. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q3 2026.
Not reported for Q3 2026.
KG 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.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.8M-72.7% | $6.7M+20.1% | $10.2M+1112.0% | $10.2M | $17.4M+2219.8% | $5.6M+782.1% | $841K | N/A |
| SG&A Expenses | $11.4M+6.1% | $10.5M+91.0% | $11.7M+927.4% | $11.6M | $10.8M+813.0% | $5.5M+366.3% | $1.1M | N/A |
| Income Tax | $11K+57.1% | -$112K-3833.3% | $6K-93.5% | -$34K | $7Kn/m | $3Kn/m | $92K | N/A |
| Net Income | -$16.4Mn/m | -$8.1M-111.6% | -$7.4Mn/m | -$17.8M | -$5.1Mn/m | $69.9Mn/m | -$394K | N/A |
| EPS (Basic) | -$2.09n/m | -$1.03 | -$0.96 | -$4.62 | -$0.65 | $15.05 | -$0.14 | $0.02 |
| EPS (Diluted) | -$2.09n/m | -$1.03 | -$0.96 | -$4.62 | -$0.65 | $15.05 | -$0.14 | $0.02 |
| Diluted Shares (Avg) | 8M+1.2% | 8M | 8M | N/A | 8M | 5M | 3M | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, Interest Expense.
KG Balance Sheet
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.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $879.6M-22.2% | $919.6M-20.7% | $964.2M | $1.0B+18229.5% | $1.1B | $1.2B | N/A | $5.5M |
| Cash & Equivalents | $26.9M+109.0% | $16.1M-49.1% | $15.1M+341.4% | $20.0M+367.7% | $12.9M+186.4% | $31.5M+532.3% | $3.4M | $4.3M |
| Short-Term Investments | N/A | N/A | N/A | $0n/m | $0n/m | $0n/m | N/A | $0 |
| Total Liabilities | $781.8M-20.8% | $805.6M-20.2% | $842.8M | $881.7M+97430.0% | $986.7M | $1.0B | N/A | $904K |
| Long-Term Debt | $175.4M+0.8% | $175.0M+0.7% | $174.7M | $174.4Mn/m | $174.1M | $173.8M | N/A | $0 |
| Total Equity | $97.8M-32.0% | $114.0M-24.1% | $121.4M+2772.9% | $128.3M+2685.1% | $143.8M+3106.4% | $150.1M+2954.9% | $4.2M | $4.6M |
| Retained Earnings | -$30.7M-261.8% | -$14.3M-159.6% | -$6.2M | $1.2Mn/m | $19.0M | $24.0M | N/A | -$5.5M |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities.
KG Cash Flow 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.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.6Mn/m | -$25.8Mn/m | -$15.1Mn/m | -$65.7Mn/m | -$9.7Mn/m | -$19.9M | -$876K | -$215K |
| Depreciation & Amortization | -$4.1Mn/m | -$436K-115.9% | $9K-50.0% | $299K+283.3% | -$2.8M-16488.2% | $2.8M | $18K | $78K |
| Stock-Based Compensation | N/A | N/A | $1.4M+9560.0% | N/A | N/A | N/A | $15K | N/A |
| Investing Cash Flow | $8.2M+246.5% | -$13.8M-113.6% | $53.0Mn/m | $42.5Mn/m | $2.4Mn/m | $102.0M | $0 | $0 |
| Financing Cash Flow | -$44Kn/m | $0n/m | -$486Kn/m | $0n/m | $0n/m | -$40.0M | $0 | $0 |
| Dividends Paid | $0n/m | N/A | N/A | $0n/m | $0n/m | N/A | N/A | $0 |
| Share Buybacks | $44Kn/m | $0n/m | $486Kn/m | N/A | $0 | $0 | $0 | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
KG 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.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -343.4% | -120.9% | -72.9%-26.0pp | -174.1% | -29.0%+28.1pp | 1256.3% | -46.9% | N/A |
| Return on Equity | -16.7%-13.2pp | -7.1%-53.7pp | -6.1%+3.2pp | -13.8% | -3.5%+6.1pp | 46.6%+57.7pp | -9.3% | N/A |
| Return on Assets | -1.9%-1.4pp | -0.9%-6.9pp | -0.8% | -1.8% | -0.4% | 6.0% | N/A | N/A |
| Debt-to-Equity | 1.79+0.6x | 1.54+0.4x | 1.44 | 1.36+1.4x | 1.21 | 1.16 | N/A | 0.00 |
| Liabilities-to-Equity | 7.99+1.1x | 7.07+0.3x | 6.94 | 6.87+6.7x | 6.86 | 6.73 | N/A | 0.20 |
| Asset Turnover | 0.010.0x | 0.010.0x | 0.01 | 0.01 | 0.02 | 0.00 | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
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. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Kestrel Group, Ltd. KG | FY2025 | $34.0M | $46.7M | N/A | $34.4M | 34/100 |
| Oxbridge Re Holdings Limited OXBR | FY2025 | $2.6M | -$2.1M | -80.7% | $7.7M | 34/100 |
| Presurance Holdings, Inc. PRHI | FY2025 | $43.3M | -$18.4M | -42.6% | $27.2M | 10/100 |
| Atlantic American Corp AAME | FY2025 | $210.4M | $6.0M | 2.9% | $25.1M | 42/100 |
| AIFU Inc. AIFU | FY2025 | $79.6M | -$325.4M | N/A | $497.7M | 20/100 |
| Greenlight Captial RE, LTD. GLRE | FY2025 | $729.8M | $74.8M | 10.3% | $527.8M | 57/100 |
Where Kestrel Group, Ltd. Ranks
Frequently Asked Questions
Kestrel Group, Ltd. (KG) reported $34.0M in total revenue for fiscal year 2025. This represents a 785.1% 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.
Kestrel Group, Ltd. (KG) revenue grew by 785.1% year-over-year, from $3.8M to $34.0M in fiscal year 2025.
No, Kestrel Group, Ltd. (KG) reported a net loss of $49.6M over the trailing 12 months to September 30, 2026. In fiscal year 2025 it reported a net income of $46.7M.
As of fiscal year 2025, Kestrel Group, Ltd. (KG) had $20.0M in cash and equivalents against $174.4M in long-term debt.
Kestrel Group, Ltd. (KG) has a return on equity of 36.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Kestrel Group, Ltd. (KG) recorded an outflow of $96.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Kestrel Group, Ltd. (KG) had $1.0B in total assets as of fiscal year 2025, including both current and long-term assets.
Kestrel Group, Ltd. (KG) had a debt-to-equity ratio of 1.36 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Kestrel Group, Ltd. (KG) had a liabilities-to-equity ratio of 6.87 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Kestrel Group, Ltd. (KG) had a return on assets of 4.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Kestrel Group, Ltd. (KG) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to September 30, 2026). The market capitalization is $34.4M as of Nov 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Kestrel Group, Ltd. (KG) trades at 1.1x sales, its market capitalization divided by $31.8M revenue, trailing 12 months to September 30, 2026. The market capitalization is $34.4M as of Nov 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Kestrel Group, Ltd. (KG) has a Piotroski F-Score of 2 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.
Kestrel Group, Ltd. (KG) scores 34 out of 100 on our Financial Health Score, indicating weak standing within its insurers peer group. The score is the average of six dimensions (Loss Ratio, Premium Growth, Capital, Investment Yield, Combined Ratio, Stability), 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. For Kestrel Group, Ltd. it averages the 4 of 6 dimensions that can be computed; the others are left out rather than counted as zero. 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.