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%

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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 Segments Valuation Filings

Revenue by segment Fiscal 2025

Excess and Surplus Lines Segment 100.00%

Every year since 2022 →

Insider Decisions last twelve months

Bought, $m 1.15

Sold, $m 10.71

Trades a month
	Jan 26			Apr 26			Jul 26			Oct 26
Buy	1	—	—	—	—	—	1	—	—	—	—	—
Sell	—	—	4	—	—	2	—	—	—	—	—	—

Insider Ownership 5.56%

Capital & Financial Ratios $m

Size

Market Cap 8,630.00

Revenue ttm 1,953.30

Net income ttm 503.61

Free cash flow ttm 973.04

Net debt Q 64.10

Valuation

P/E 16.65

Forward P/E 16.20

Price / sales 4.41

Forward P/S Powerpack

Price / FCF 8.85

Price / book 4.49

Financial health

Current ratio Q 0.07

Debt / equity Q 0.12

Interest coverage Q 39.39

Growth

Revenue growth Q −8.58%

Operating income growth Q −30.10%

EPS, this year +12.48%

EPS, next year A −0.33%

Revenue, next year A +3.74%

EPS, past 5 yrs +41.11%

EPS, next 5 yrs A +5.86%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 8.48%

10-year low 10-year high

P/S against its own 10 years 7.86%

10-year low 10-year high

P/B against its own 10 years 19.64%

10-year low 10-year high

Dividends raised every year since 2017

Yield: 0.24%
Annual rate: 0.92
Payout ratio: 4.01%
Growth, 2017–25: +13.9%/yr

0.24 ’17
0.28 ’18 +17
0.32 ’19 +14
0.36 ’20 +13
0.44 ’21 +22
0.52 ’22 +18
0.56 ’23 +8
0.60 ’24 +7
0.68 ’25 +13
1.00 ’26e +47

paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	127	113	163	161
Receivables	143	140	125	120
Inventory	—	—	—	—
Other	—	—	—	—
	270	253	288	280

	2023	2024	2025	Q'26
Payables	2,487	3,213	3,852	4,266
ST’ Debt	—	—	—	—
Other	—	—	—	—
	2,487	3,213	3,852	4,266

Compound Annual Growth %

	10y	5y	3y
Sales	36.98%	32.44%	30.73%
Cash Flow	29.50%	30.11%	23.23%
Earnings	36.59%	41.62%	46.82%
Book Value	32.96%	27.74%	38.01%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 4.95 Actual 5.70

4.53 4.89 5.26 5.62 5.98

Q4 FY25 Beat +0.51

Q1 FY26 Beat +0.41

Q2 FY26 Beat +0.44

Q3 FY26 Beat +0.75

Q4 FY26 — Feb 11

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Q4 FY25	5.30	5.81	Beat by 0.51
Q1 FY26	4.70	5.11	Beat by 0.41
Q2 FY26	5.10	5.54	Beat by 0.44
Q3 FY26	4.95	5.70	Beat by 0.75
Q4 FY26	5.71	—	Reports 11 February 2027

EPS $

	Mar	Jun	Sep	Dec	Year
’26	4.88	7.72	4.36	—	—
’25	3.83	5.76	6.09	5.99	21.65
’24	4.24	3.97	4.90	4.68	17.78
’23	2.40	3.12	3.26	4.43	13.22
’22	1.38	1.17	1.43	2.90	6.88
’21	1.39	1.55	1.59	2.09	6.62
’20	0.22	1.33	0.65	1.65	3.87

Fiscal quarters ending in the months shown.

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	467	549	455	—	—
’25	423	470	498	483	1,874
’24	373	385	418	412	1,588
’23	263	296	314	351	1,224
’22	180	184	222	253	839
’21	138	153	165	197	653
’20	80	118	123	139	460

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	249	242	264	—	—
’25	230	269	303	241	1,044
’24	210	279	274	213	976
’23	198	226	225	212	860
’22	122	157	178	101	558
’21	91	104	107	105	407
’20	60	73	74	74	280

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	241	239	262	—	—
’25	218	252	290	231	990
’24	207	275	268	202	952
’23	195	224	223	210	853
’22	121	155	175	99	551
’21	90	102	105	104	401
’20	55	62	65	70	252

Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing 48.2% a year for ten years.

Implied: 48.2%

Open the model

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM Sep ’26	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
													Ten-year view		Analyst estimates Powerpack
Income, $m
Income, $m	Revenue	142	187	222	316	460	653	839	1,224	1,588	1,874	1,953		+33.2%	1,944	1,944	1,980	+1.9%
	Gross margin, %	29.73	20.85	18.30	24.09	22.13	29.15	23.91	32.28	33.31	34.50	34.47		+4.8 pt	Powerpack Kinsale Capital Group, Inc.’s next three years, line by line Analysts expect revenue to grow 1.9% a year to 2028 — slower than the 33.2% of the last 9 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	40	39	40	76	100	189	196	384	515	634	658		+36.1%
	EBT margin, %	27.92	20.62	18.22	24.08	21.83	28.89	23.31	31.36	32.42	33.85	33.68		+5.9 pt
	Net income	26	25	34	63	88	153	159	308	415	504	504		+38.9%
Per share, $
Per share, $	Revenue	3.91	8.90	10.53	14.67	20.61	28.80	36.77	53.13	68.57	80.98	86.85		+40.1%
	Earnings	0.57	1.19	1.60	2.94	3.96	6.73	6.97	13.37	17.92	21.76	23.00		+49.9%
	Cash flow	2.03	3.69	4.93	8.28	12.54	17.94	24.45	37.31	42.17	45.11	44.30		+41.1%
	Capex	(0.02)	(0.01)	(0.06)	(0.91)	(1.25)	(0.26)	(0.30)	(0.29)	(1.03)	(2.32)	(1.03)		+74.3%
	Free cash flow	2.02	3.68	4.87	7.37	11.30	17.68	24.15	37.02	41.13	42.79	43.27		+40.4%
	Book value	5.80	11.35	12.52	18.85	25.82	30.82	32.67	47.16	64.08	84.68	85.33		+34.7%
	Shares, m	36	21	21	22	22	23	23	23	23	23	23		(4.9%)
Valuation, ×
Valuation, ×	P/E	25.58	36.82	34.51	34.58	50.67	35.35	37.29	25.92	25.96	17.97	16.65		32.5
	P/S	8.73	4.88	5.28	6.93	9.71	8.26	7.08	6.52	6.78	4.83	4.41		6.9
	P/B	5.88	3.83	4.44	5.39	7.75	7.72	7.97	7.35	7.26	4.62	4.49		6.2
	EV/Sales	8.56	4.59	5.06	6.75	9.70	8.18	7.16	6.59	6.85	4.88	—		6.8
	EV/FCF	16.57	11.11	10.94	13.43	17.68	13.33	10.90	9.46	11.41	9.23	—		12.4
Cash, $m
Cash, $m	Operating cash flow	74	77	104	178	280	407	558	860	976	1,044	996		+34.2%
	Capex	(1)	0	(1)	(20)	(28)	(6)	(7)	(7)	(24)	(54)	(23)		+65.9%
	Free cash flow	73	77	103	159	252	401	551	853	952	990	973		+33.6%
Balance, $m
Balance, $m	Working capital	(327)	(327)	(410)	(532)	(798)	(1,076)	(1,539)	(2,217)	(2,960)	(3,564)	(3,986)		+30.4%
	Net debt	(51)	(82)	(75)	(84)	(35)	(78)	39	57	71	61	64		n/m
	Shareholders’ equity	210	238	264	406	576	699	745	1,087	1,484	1,960	1,919		+28.2%
Returns, %
Returns, %	ROA	4.51	3.88	4.69	6.79	6.70	8.55	6.67	9.45	9.58	9.22	8.56		+4.7 pt
	ROIC	15.50	15.39	13.39	14.75	11.60	19.10	15.91	21.54	21.10	19.95	21.13		+4.5 pt
	ROE	16.17	11.11	13.46	18.90	18.01	23.94	22.03	33.63	32.28	29.25	27.76		+13.1 pt
People
People	Employees	145	164	190	275	335	375	466	574	674	720	—		+19.5%
	Revenue/emp, $m	0.98	1.14	1.17	1.15	1.37	1.74	1.80	2.13	2.36	2.60	—		+11.5%

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated 1 November 2026

Kinsale Capital Group is a U.S. property and casualty insurer focused exclusively on the excess and surplus lines market, often called E&S. It writes coverage for risks that can be unusual or difficult to place with standard insurers. These include newly established companies or industries, high-risk operations, businesses in places with frequent litigation and companies with poor loss histories.

Its core clients are small and medium-sized accounts. Its commercial products cover risks ranging from property and construction to casualty, health care and entertainment. It also writes personal insurance, including homeowners coverage. Kinsale sells primarily through independent insurance brokers, which bring insurance applications from prospective customers to its underwriters.

Read the full business profile →

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Excess and Surplus Lines Segment	1,874	100.00%
Gross margin		34.50%
Operating margin		34.42%
Pre-tax margin		33.85%

Revenue by segment since 2022

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
CNA CNA Financial Corporation	$12.8B	12.4×	11.8×	+0.10% (above 0%: growing)	−51.35% (below 0%: shrinking)	−9.94% (below 0%: shrinking)	38.58%	7.04%	Compare
AFG American Financial Group, Inc.	$12.7B	13.4×	12.4×	+5.51% (above 0%: growing)	+44.44% (above 0%: growing)	−68.13% (below 0%: shrinking)	23.15%	16.75%	Compare
ORI Old Republic International Corporation	$9.3B	8.5×	8.9×	+5.21% (above 0%: growing)	−11.55% (below 0%: shrinking)	−23.85% (below 0%: shrinking)	11.68%	11.68%	Compare
KNSL Kinsale Capital Group, Inc.	$8.6B	16.6×	16.2×	−8.58% (below 0%: shrinking)	−28.76% (below 0%: shrinking)	−9.58% (below 0%: shrinking)	27.99%	27.89%
THG The Hanover Insurance Group, Inc.	$8.5B	11.7×	11.6×	+4.23% (above 0%: growing)	+1.22% (above 0%: growing)	−6.06% (below 0%: shrinking)	42.97%	13.27%	Compare
RLI RLI Corp.	$6.1B	15.6×	16.0×	−6.34% (below 0%: shrinking)	−34.81% (below 0%: shrinking)	+8.17% (above 0%: growing)	29.66%	22.52%	Compare
SIGI Selective Insurance Group, Inc.	$5.9B	12.1×	11.7×	−2.49% (below 0%: shrinking)	+14.05% (above 0%: growing)	−12.67% (below 0%: shrinking)	42.49%	13.22%	Compare
MCY Mercury General Corporation	$5.7B	8.9×	7.0×	−12.84% (below 0%: shrinking)	n/m	−22.67% (below 0%: shrinking)	7.63%	(0.92%)	Compare
WTM White Mountains Insurance Group, Ltd.	$5.5B	5.2×	5.1×	+22.55% (above 0%: growing)	+68.75% (above 0%: growing)	−131.27% (below 0%: shrinking)	54.44%	32.51%	Compare
Median of peers	$7.3B	11.9×	11.6×	+2.17%	+1.22%	−17.67%	34.12%	13.25%

All 46 Insurance Property & Casualty stocks →

From the latest earnings call

Updated 3 November 2026

CEO Michael Kehoe said competition in commercial property weighed on premium growth, while submissions, quotes and bind orders grew in the mid single digits.
Kehoe said Kinsale’s business had shifted toward smaller accounts and he hoped for a return to modest premium growth in the near term.

Read the Earnings & Analysis →

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 94.45%

Held by the ten largest 49.84%

Holder	Shares	Stake	Change
BAMCO INC /NY/	2.66m	11.70%	+636.19k
Vanguard	2.08m	9.11%	−20.75k
BlackRock	2.04m	8.94%	−138.45k
Capital Group	1.28m	5.62%	−31.36k
State Street	718.34k	3.15%	+26.39k
Geode Capital Management	653.27k	2.87%	−7.96k
DAVENPORT & Co LLC	533.17k	2.34%	−3.78k
Morgan Stanley	517.95k	2.27%	−74.48k
JPMorgan Chase	455.79k	2.00%	+26.15k
Life Cycle Investment Partners Ltd	419.98k	1.84%	−144.33k

13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 9 April 2026

Chief executive’s pay

Year	Total pay	Actually paid	$100 invested
2025	7.42m	6.44m	197.22
2024	6.77m	8.24m	234.16
2023	5.22m	6.13m	168.39
2022	3.78m	4.06m	131.27
2021	3.03m	3.43m	119.16

Ownership

Directors and executive officers, together 5.60%

BlackRock, Inc. 9.10%

Baron Capital Group, Inc. and affiliated entities 7.60%

Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement