KINGSWAY CORP Financials
This page shows KINGSWAY CORP (KWY) 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, 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 KINGSWAY CORP'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.
KINGSWAY CORP 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 22/100, suggesting thin profitability after operating expenses. This is down from 2.0% the prior year.
KINGSWAY CORP's revenue surged 23.4% year-over-year to $135.0M, reflecting rapid business expansion. This strong growth earns a score of 57/100.
KINGSWAY CORP 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 23/100, reflecting increased financial risk.
KINGSWAY CORP's current ratio of 0.92 is below the typical benchmark, resulting in a score of 13/100. This tight liquidity could limit financial flexibility if cash inflows slow.
KINGSWAY CORP generates a -0.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 11/100. This is up from -0.1% the prior year.
KINGSWAY CORP 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 CORP generates $0.29 in operating cash flow (-$3K OCF vs -$10K net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
KINGSWAY CORP 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 CORP generated $135.0M in revenue in fiscal year 2025. This represents an increase of 23.4% from the prior year.
KINGSWAY CORP'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 CORP reported -$10K in net income in fiscal year 2025. This represents a decrease of 23.6% from the prior year.
KINGSWAY CORP 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 CORP held $8.3M in cash against $59.0M in long-term debt as of fiscal year 2025.
KINGSWAY CORP had 29M shares outstanding in fiscal year 2025. This represents an increase of 5.5% from the prior year.
Margins & Returns
KINGSWAY CORP'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 CORP's net profit margin was -0.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.0 percentage points from the prior year.
KINGSWAY CORP's ROE was -0.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.0 percentage points from the prior year.
Capital Allocation
KINGSWAY CORP 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.
KWY Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $39.0M+1.0% | $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 |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $17.3M | N/A | N/A | N/A | $12.2M | 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 | $16.5M-4.1% | $17.2M+0.1% | $17.2M+22.3% | $14.1M+10.6% | $12.7M+9.0% | $11.7M-1.7% | $11.9M+7.6% | $11.0M |
| Operating Income | $485K+58.0% | $307K+135.5% | -$865K+23.2% | -$1.1M-57.7% | -$714K-136.8% | $1.9M+388.8% | -$672K-633.3% | $126K |
| Interest Expense | $1.4M-2.6% | $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 |
| Income Tax | -$47K+96.4% | -$1.3M+36.2% | -$2.0M-1464.9% | -$131K+50.4% | -$264K+25.8% | -$356K-1795.2% | $21K-79.8% | $104K |
| Net Income | -$2.3M-126.2% | $8.7M+459.1% | -$2.4M+23.8% | -$3.2M-2.4% | -$3.1M-145.4% | $6.8M+395.0% | -$2.3M-5.7% | -$2.2M |
| EPS (Diluted) | $-0.10 | N/A | $-0.10+23.1% | $-0.130.0% | $-0.13 | N/A | $-0.10-25.0% | $-0.08 |
KWY Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $232.2M+0.3% | $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 |
| Current Assets | $78.1M+2.1% | $76.5M | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $7.3M-12.5% | $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 |
| Inventory | N/A | $1.8M | N/A | N/A | N/A | $714K | $0 | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $69.8M+1.0% | $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 |
| Total Liabilities | $199.6M+1.3% | $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 |
| Current Liabilities | $85.0M+1.7% | $83.6M | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $55.3M-6.3% | $59.0M-16.6% | $70.7M+21.2% | $58.3M-1.9% | $59.5M+3.4% | $57.5M-1.6% | $58.5M+23.7% | $47.3M |
| Total Equity | $13.2M-13.3% | $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 |
| Retained Earnings | -$376.2M-0.7% | -$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 |
KWY Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$8K+20.0% | -$10K-100.7% | $1.5M+335.6% | $337K+118.7% | -$1.8M-1580.4% | -$107K-129.1% | $368K-33.9% | $557K |
| Capital Expenditures | $390K | N/A | N/A | N/A | $63K | N/A | N/A | N/A |
| Free Cash Flow | -$398K | N/A | N/A | N/A | -$1.9M | N/A | N/A | N/A |
| Investing Cash Flow | -$994K-453.7% | $281K+101.7% | -$16.2M-54.5% | -$10.5M-229.8% | -$3.2M-629.8% | -$436K+97.5% | -$17.3M-1682.1% | $1.1M |
| Financing Cash Flow | -$220K+73.5% | -$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 |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | $0 | $0 | $0-100.0% | $345K | $0-100.0% | $1.6M+74.2% | $890K |
KWY Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.5% | N/A | N/A | N/A | 42.9% | N/A | N/A | N/A |
| Operating Margin | 1.2%+0.4pp | 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% |
| Net Margin | -5.8%-28.3pp | 22.5%+28.9pp | -6.5%+3.8pp | -10.2%+0.7pp | -10.9%-33.9pp | 23.0%+31.5pp | -8.5%-0.3pp | -8.3% |
| Return on Equity | -17.3%-74.3pp | 57.1%+71.6pp | -14.5%+3.7pp | -18.1%+38.5pp | -56.7%-137.7pp | 81.0%+104.3pp | -23.3%-12.7pp | -10.6% |
| Return on Assets | -1.0%-4.7pp | 3.7%+4.8pp | -1.0%+0.5pp | -1.5%+0.1pp | -1.6%-5.3pp | 3.6%+4.9pp | -1.2%-0.1pp | -1.1% |
| Current Ratio | 0.920.0 | 0.92 | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 4.21+0.3 | 3.89-0.4 | 4.25+0.9 | 3.34-7.6 | 10.91+4.1 | 6.84+1.0 | 5.88+3.6 | 2.29 |
| FCF Margin | -1.0% | 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.
Frequently Asked Questions
What is KINGSWAY CORP's annual revenue?
KINGSWAY CORP (KWY) 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 CORP's revenue growing?
KINGSWAY CORP (KWY) revenue grew by 23.4% year-over-year, from $109.4M to $135.0M in fiscal year 2025.
Is KINGSWAY CORP profitable?
No, KINGSWAY CORP (KWY) reported a net income of -$10K in fiscal year 2025, with a net profit margin of -0.0%.
What is KINGSWAY CORP's EBITDA?
KINGSWAY CORP (KWY) had EBITDA of $6.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does KINGSWAY CORP have?
As of fiscal year 2025, KINGSWAY CORP (KWY) had $8.3M in cash and equivalents against $59.0M in long-term debt.
What is KINGSWAY CORP's operating margin?
KINGSWAY CORP (KWY) 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 CORP's net profit margin?
KINGSWAY CORP (KWY) 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 CORP's return on equity (ROE)?
KINGSWAY CORP (KWY) 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 CORP's operating cash flow?
KINGSWAY CORP (KWY) generated -$3K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are KINGSWAY CORP's total assets?
KINGSWAY CORP (KWY) had $231.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What is KINGSWAY CORP's current ratio?
KINGSWAY CORP (KWY) 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 CORP's debt-to-equity ratio?
KINGSWAY CORP (KWY) 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 CORP's return on assets (ROA)?
KINGSWAY CORP (KWY) 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 CORP's cash runway?
Based on fiscal year 2025 data, KINGSWAY CORP (KWY) 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 CORP's Piotroski F-Score?
KINGSWAY CORP (KWY) 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are KINGSWAY CORP's earnings high quality?
KINGSWAY CORP (KWY) has an earnings quality ratio of 0.29x, 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 CORP cover its interest payments?
KINGSWAY CORP (KWY) 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 CORP?
KINGSWAY CORP (KWY) scores 21 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.