KFS FINANCIAL STATEMENTS

Kingsway Financial Services Inc — balance sheet, income statement and cash flow trends

KFSKingsway Financial Services Inc

🇺🇸 USA · NYSE · Financial Services · Asset Management

Value itDuel

Income Statement

Quarterly progression — trailing-twelve-month values
RevenueNet Income
050 M100 M150 M202120222023202420252026

Profit Funnel

Q1 2026 · TTM
Revenue147.5 M $Gross Profit121.3 M $ · 82%Operating Income-7.8 M $ · -5%Pre-tax Income-8.9 M $ · -6%Net Income-10 M $ · -7%

Percentages are relative to revenue.

Key Figures

YoY change
Revenue147.5 M $+30.4%
Gross Profit121.3 M $+14.0%
Operating Income-7.8 M $—
EBITDA6.6 M $+157.4%
Net Income-10 M $—

Peer Comparison· Asset Management

CompanyRev. GrowthGross MarginEBITDA MarginNet Margin
KFS———-6.8%
III———1,236.9%
LGEN———4.0%
BULGS———75.2%
SMT———97.4%
GOZDE———-1,340,136.1%
Industry median22.3%3.0%127.9%16.7%

Balance Sheet

Quarterly period-end values
Total AssetsTotal LiabilitiesEquity
0200 M400 M202120222023202420252026

Capital Structure

Q1 2026
Total Assets232.2 M
  • Equity29.4 M $13%
  • Current Liabilities16.9 M $7%
  • Long-term Liabilities182.7 M $80%

Key Figures

YoY change
Total Assets232.2 M $+20.9%
Total Liabilities199.6 M $+17.0%
Total Equity29.4 M $+49.2%
Cash & ST Investments15.2 M $+10.6%
Total Debt78.2 M $+25.4%
Net Debt63.2 M $+12.7%

Peer Comparison· Asset Management

CompanyCurrent RatioDebt/EquityNetDebt/EBITDAEquity/Assets
KFS4.61266.0%9.5112.7%
III131.804.1%0.1295.5%
LGEN59.081,100.0%7.250.4%
BULGS123.950.1%-0.7399.9%
SMT0.3111.6%0.5189.4%
GOZDE0.760.0%0.0095.2%
Industry median3.8118.1%0.1864.6%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values
Operating Cash FlowCapital ExpendituresFree Cash Flow
-20 M020 M202120222023202420252026

Cash Flow Bridge

Q1 2026 · TTM
-20 M-10 M01.8 M $Operating-27.4 M $Investing26.7 M $Financing1.1 M $Net Change

Key Figures

YoY change
Operating Cash Flow1.8 M $—
Capital Expenditures2.1 M $+276.4%
Free Cash Flow-346 K $—
Dividends Paid-1.2 M $-763.6%

Peer Comparison· Asset Management

CompanyCF MarginFCF MarginCapEx RatioCF/Net Income
KFS1.2%-0.2%1.4%-17.9%
III34.3%34.1%0.2%2.8%
LGEN36.3%35.9%0.4%913.3%
BULGS52.2%-13.0%0.2%69.4%
SMT-2.2%-2.2%0.0%-2.2%
GOZDE795,919.6%825,794.0%76.3%-59.4%
Industry median18.7%17.4%0.6%68.9%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jun 26, 26. This content is for informational purposes only and is not investment advice.