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KINS

Kingstone Companies, Inc.

KINS

Kingstone Companies, Inc. • NASDAQ
$15.22 ▼ -0.20% (-0.03)
Market Cap $215.32 M
52w High $22.40
52w Low $13.08
Dividend Yield 0.10%
P/E 6.76
Volume 41.59K
Outstanding Shares 14.15M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 ▼ $0 ▼ $0 ▼ 0% ▼ $0.77 ▼ $1.881B ▲
Q2-2025 $52.295M ▲ $9.571M ▲ $11.252M ▲ 21.517% ▲ $0.81 ▲ $14.857M ▲
Q1-2025 $50.499M ▲ $9.292M ▲ $3.883M ▼ 7.689% ▼ $0.29 ▼ $5.57M ▼
Q4-2024 $42.103M ▲ $9.074M ▼ $5.439M ▼ 12.918% ▼ $0.44 ▼ $7.922M ▼
Q3-2024 $40.772M $9.656M $6.978M 17.115% $0.61 $10.604M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $26.772B ▲ $428.59B ▲ $320.937B ▲ $107.653B ▲
Q2-2025 $133.348M ▲ $393.422M ▲ $298.544M ▼ $94.878M ▲
Q1-2025 $124.912M ▲ $385.439M ▲ $303.229M ▼ $82.21M ▲
Q4-2024 $28.669M ▼ $374.916M ▲ $308.207M ▲ $66.708M ▲
Q3-2024 $97.99M $346.994M $287.325M $59.67M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $25.996B ▲ $53.033B ▲ $-56.365B ▼ $1.405B ▲ $26.739B ▲ $53.034B ▲
Q2-2025 $11.252M ▲ $9.274M ▼ $-12.669M ▼ $-381.548K ▼ $-3.776M ▼ $8.697M ▼
Q1-2025 $3.883M ▼ $17.857M ▼ $-11.844M ▲ $2.808M ▲ $8.821M ▲ $16.994M ▼
Q4-2024 $5.439M ▼ $22.988M ▲ $-26.043M ▼ $-2.036M ▼ $-5.091M ▼ $22.39M ▲
Q3-2024 $6.978M $21.745M $393.84K $-548.725K $21.59M $21.044M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025
Reportable Segment
Reportable Segment
 $50.00M ▲$50.00M ▲$50.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Profitability has swung from weak to meaningfully improved. A few years ago the business was losing money, with underwriting results under pressure and earnings per share in the red. Over time, revenue has grown modestly but steadily, and the quality of that revenue has improved: gross profit margins have strengthened and operating losses have turned into a clear operating profit in the most recent year. Net income has moved from sizable losses to a solid profit, reflecting better risk selection, pricing, and cost control. Overall, the income statement tells a turnaround story: still relatively small in scale, but with much healthier earnings than in the recent past and better resilience in the core insurance operations.

Balance Sheet

Balance Sheet The balance sheet looks healthier than it did a few years ago, but still shows the scars of earlier losses. Total assets have edged up, and cash levels have improved from prior low points, giving the company a bit more flexibility. Debt has been reduced from earlier levels, which lowers financial risk, while shareholders’ equity, which had been eroded by past losses, has started to rebuild. Even so, the capital base remains thinner than it once was, which means the company has less room for major missteps or unusually bad catastrophe years. In short, financial strength is improving, but still needs to be protected carefully.

Cash Flow

Cash Flow Cash generation has moved from fragile to solid. Earlier in the period, operating cash flow was flat to slightly negative, a sign that the accounting turnaround had not yet fully translated into cash. In the most recent year, operating cash flow turned clearly positive, and because the business has minimal capital spending needs, most of this flowed through to free cash flow. That combination—better earnings and stronger cash conversion—supports the view that recent profitability is not just an accounting artifact but is showing up in the company’s bank account. The key risk is that insurance cash flows can swing sharply with large losses or changes in reinsurance costs.

Competitive Edge

Competitive Edge Kingstone is a focused regional insurer, centered on New York homeowners, rather than a broad national player. Its edge comes from deep local knowledge, a strong network of independent agents, and a willingness to stay in markets where some large competitors are pulling back. This market withdrawal by bigger carriers has opened the door for Kingstone to pick up business, including through renewal rights deals. That said, the company is concentrated in a catastrophe‑exposed region, which brings weather and regulatory risk, and it lacks the diversification and scale advantages of the largest insurers. Its position is strongest where it can pair local expertise with disciplined underwriting and tech‑driven pricing, but it remains vulnerable to unusually bad storm seasons or sharp shifts in the regional market.

Innovation and R&D

Innovation and R&D While it does not spend on research in the way a tech firm might, Kingstone is leaning heavily on technology and product innovation. The “Select” homeowners product uses more granular, data‑driven pricing to attract better‑quality risks, which appears to be improving loss experience. Partnerships with firms like Earnix for AI‑driven pricing and Snapsheet for digital claims are intended to sharpen underwriting, speed up product changes, and modernize the claims experience. On the product side, niche offerings such as canine and trampoline liability help differentiate the company and deepen relationships with agents. Looking ahead, the planned expansion into new states will test how scalable these tools really are. The upside is a more efficient, analytically driven insurer; the risk is execution missteps or overconfidence in new pricing models in less familiar markets.

Summary

Kingstone’s recent financial history reflects a meaningful turnaround: modest but steady revenue growth, a shift from losses to profits, and much stronger cash generation. The balance sheet is improving, with more cash, less debt, and rebuilding equity, but still has limited excess capital compared with earlier years, which raises the importance of maintaining underwriting discipline. Competitively, the company benefits from specialization in the New York homeowners market, an entrenched agent network, and the ability to step in where larger carriers have withdrawn, though this comes with exposure to regional catastrophe and concentration risks. Its embrace of data‑driven underwriting, AI‑enhanced pricing, and digital claims, along with a pipeline of geographic expansion, gives it a clear growth and modernization story. Overall, Kingstone looks like a small, focused insurer in the middle of a strategic and operational upgrade, with improving fundamentals but ongoing sensitivity to weather events, regulatory shifts, and the execution of its expansion and technology plans.

NEWS

November 6, 2025 · 4:45 PM UTC

Kingstone Reports Third Quarter 2025 Results

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October 31, 2025 · 8:05 AM UTC

Kingstone Declares Quarterly Dividend

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October 16, 2025 · 4:15 PM UTC

Kingstone Schedules Third Quarter 2025 Earnings Release and Conference Call

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September 24, 2025 · 8:05 AM UTC

Kingstone Announces FY2026 Guidance

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September 10, 2025 · 8:35 AM UTC

Kingstone to Present at Sidoti Small-Cap Virtual Conference

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