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Wednesday 4 November 2026 Export KNSL’s income statement to Excel — free account

Kinsale Capital Group, Inc.

KNSL Financial Insurance Property & Casualty

Kinsale Capital Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, up 18.0% from fiscal 2024.

Revenue
−8.58%
EPS
−28.8%
Free cash flow
−9.58%
Total debt
+12.7%

Quarter to September 2026, against a year earlier

391.30 7.75 +2.02%
Market cap
$8.6B
P/E
16.6×
Fwd P/E
16.2×
Dividend yield
0.24%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
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Kinsale Capital Group, Inc. (KNSL) valuation and DCF model

What the price implies · reverse DCF

At $391.30 the price implies 48.5% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 13.9% a year over the last five years. The price asks for about three times its five-year rate. Return on equity averaged 21.9% over ten years; the price implies 32.3% for good.

In December 2017 the price assumed 39.5% a year; Kinsale Capital Group, Inc. went on to grow the dividend a share 37.4% a year to FY2025.

Price implies
48.5%
Last 5 years, reported
13.9%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
48.5% a year for ten years
$391.30
today’s price
Its base case
13.9% a year for five years, then 8.4%
$28.35
92.8% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Kinsale Capital Group, Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 48.5% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against Kinsale Capital Group, Inc.’s own cost of capital: risk-free 4.3% + beta 0.82 × equity premium 4.5% = 8.0% cost of equity; weighted, 8.0%.

Use 8.0%
Base case value per share $28.35 ten years discounted, and what follows
Current price $391.30 market price per share
Below today’s price 92.8% downside at the base case’s assumptions

How we got there$10.85 10 years of dividends+$17.50 terminal value=$28.35 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Insurance Property & Casualty).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 16.65× 24.76× 31.57× 47% below 11.87× 40% above
P/FCF 8.85× 9.89× 11.76× 25% below 8.12× 9% above
P/B 4.49× 6.34× 6.08× 26% below 1.99× 126% above
EV/EBITDA — 22.71× 26.66× — 3.38× —
EV/Sales — 6.73× 6.83× — 3.90× —
P/E P/FCF P/B EV/EBITDA EV/Sales
4.13×5.34×6.55×7.76×10Y avg 6.08×2017201820192020202120222023202420252026

KNSL trades at 4.49× P/B, against a 10-year average of 6.08× (range 3.83×–7.97×). That is cheaper than 78% of the last 9 year-end readings; re-rating to the average implies $530.22 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.