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MARKETS / NYSE / KWY
NYSE · FIRE, MARINE & CASUALTY INSURANCE · MID CAP

Kingsway Corp. KWY

15 fiscal years on record · USD · FY2025 reported · SEC filings only
$135.0M
▲ 23.4% YoY
$-10.3M
In brief

What this company does

Kingsway owns or controls subsidiaries primarily in the business services and extended warranty industries. The company conducts its business through two reportable segments, Kingsway Search Xcelerator and Extended Warranty, that conduct their business and distribute their products and services primarily in the United States. At December 31, 2025, the company employed 607 personnel supporting its operations, consisting of approximately 569 full-time employees and 38 part-time employees. Kingsway Financial Services Inc. was incorporated under the Business Corporations Act (Ontario) on September 19, 1989. Effective December 31, 2018, the company changed its jurisdiction of incorporation from the province of Ontario, Canada, to the State of Delaware.

Written from the business description in Kingsway Financial Services Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 12 March 2026. Every sentence was checked against that document before publication.

Growth
USD 135.0M
Revenue, FY2025 · full 15-year series below
Revenue $M Net income $M
FY2025 · Revenue 135.0 · Net income -10.3
80M160M-20M-40M20112013201520172019202120232025
Compound annual growth
+13.1%
+23.2%
−1.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +23.2% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−8 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -1.8% · Net -7.6%
10%20%-20%-40%20112013201520172019202120232025
ROE
FY2019 · ROE -103.6%
-50%-100%20112013201520172019202120232025

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2021 · FCF -6.7
-40M20112013201520172019202120232025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks -15.3
2M-8M20142015201620172022202320242025

Total assetsUSD 231.5M
EquityUSD 15.2M
CashUSD 8.3M
Gross debtUSD 70.7M
Net debtUSD 62.4M

Net debt stands at 411% of equity.

The 15-year record
15 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011
Revenue $B0.10.10.10.10.10.00.10.10.00.20.20.20.20.20.2
Operating income $B−0.00.00.0−0.0−0.0−0.0−0.0−0.00.0−0.0−0.00.0−0.0−0.0−0.0
EBITDA $B0.00.00.00.00.00.00.00.00.0−0.00.00.0−0.0−0.0−0.0
Income tax $B−0.0−0.0−0.00.0−0.0−0.0−0.00.0−0.0−0.00.0−0.0−0.00.0−0.0
Net income $B−0.0−0.00.00.00.0−0.0−0.0−0.0−0.00.00.0−0.0−0.0−0.1−0.0
Free cash flow $B····−0.00.0···−0.0−0.0−0.0−0.0−0.0−0.1
EPS, diluted $−0.43−0.350.890.98−0.04−0.35−0.32−1.41−0.790.010.04−0.75−2.61−4.05−2.09
Dividend / sh $······0.000.00·······
Payout %···············
ROE %······−103.6−114.1−34.8··−35.2−73.3−55.3−16.3
Shares out B0.030.030.030.020.020.020.020.020.020.020.020.020.020.010.01

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 45 reconciliationsAUDITED

Reconciled in 15 of 19 fiscal years. 28 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityFire, Marine & Casualty Insurance
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2011

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