Kinsale Capital Group, Inc. (KNSL) 10-Year Financial Performance & Capital Metrics

KNSL • • Insurance & Managed Care

Financial ServicesProperty & Casualty InsuranceSpecialty & Excess Lines InsuranceExcess & Surplus Lines

AboutKinsale Capital Group, Inc., a specialty insurance company, provides property and casualty insurance products in the United States. The company's commercial lines offerings include construction, small business, excess and general casualty, commercial property, allied health, life sciences, energy, environmental, health care, inland marine, public entity, and commercial insurance, as well as product, professional, and management liability insurance. It markets and sells its insurance products in all 50 states, the District of Columbia, the Commonwealth of Puerto Rico, and the U.S. Virgin Islands primarily through a network of independent insurance brokers. The company was founded in 2009 and is headquartered in Richmond, Virginia.Show more

Revenue $1.59B +29.7%
Combined Ratio 67.58% -1.5%
Net Income $415M +34.6%
Return on Equity 32.28% -4.0%
Medical Cost Ratio 57.14% -2.0%
Operating Margin 32.42% +3.4%
Net Margin 26.13% +3.9%
ROA 9.58% +1.4%
Equity / Assets 30.36% +5.4%
Book Value per Share 63.58 +36.4%
Tangible BV/Share 63.58 +36.8%
Debt/Equity 0.12 -26.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Profitable underwriting: 67.6% combined ratio
✓Excellent 3Y average ROE of 29.3%
✓Strong 5Y profit CAGR of 45.6%
✓Strong Piotroski F-Score: 7/9
✓Low loss ratio of 57.1%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y37.94%

5Y38.11%

3Y34.43%

TTM18.1%

Profit (Net Income) CAGR

10Y41.41%

5Y45.64%

3Y39.55%

TTM15.88%

EPS CAGR

10Y39.88%

5Y44.12%

3Y39%

TTM16.08%

ROCE

10Y Avg9.39%

5Y Avg12%

3Y Avg13.94%

Latest11.89%

Peer Comparison

Excess & Surplus Lines

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KNSLKinsale Capital Group, Inc.	8.86B	380.95	21.43	29.65%	26.3%	25.42%	10.75%	0.12
RLIRLI Corp.	5.38B	58.60	15.67	17.09%	19.02%	18.84%	10.32%	0.07
MKLMarkel Corporation	26.45B	2097.34	10.52	6.6%	12.73%	11.18%	8.84%	0.25
GBLIGlobal Indemnity Group, LLC	303.7M	28.84	9.24	-16.46%	6.31%	3.96%	12.79%	0.02

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	80.6M	141.62M	186.78M	222.11M	315.89M	459.89M	653.47M	838.8M	1.22B	1.59B
Revenue Growth %	0.27%	0.76%	0.32%	0.19%	0.42%	0.46%	0.42%	0.28%	0.46%	0.3%
Medical Costs & Claims+	25.4M	77.11M	124.88M	154.48M	205.6M	317.58M	397.56M	551.67M	713.94M	907.08M
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	55.2M	64.51M	61.89M	67.64M	110.29M	142.31M	255.91M	287.13M	510.51M	680.44M
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.55%	0.17%	-0.04%	0.09%	0.63%	0.29%	0.8%	0.12%	0.78%	0.33%
Operating Expenses+	21.64M	24.97M	23.37M	27.16M	34.24M	41.89M	67.11M	91.57M	126.5M	165.73M
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	642K	636K	515K	631K	682K	1.57M	2.31M	2.72M	3.27M	5.8M
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	33.56M	39.54M	38.52M	40.48M	76.05M	100.41M	188.8M	195.56M	384.02M	514.72M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.72%	0.18%	-0.03%	0.05%	0.88%	0.32%	0.88%	0.04%	0.96%	0.34%
EBITDA+	34.2M	40.17M	39.04M	41.11M	76.73M	101.99M	191.11M	198.28M	387.29M	520.52M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	0	0	0	0	0	168K	994K	4.28M	10.3M	10.13M
Non-Operating Income	0	0	0	0	0	-168K	-994K	-4.28M	-10.3M	-10.13M
Pretax Income+	33.56M	39.54M	38.52M	40.48M	76.05M	100.41M	188.8M	195.56M	384.02M	514.72M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	11.28M	13.37M	13.62M	6.69M	12.73M	11.99M	36.14M	36.45M	75.92M	99.87M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	22.27M	26.17M	24.9M	33.79M	63.32M	88.42M	152.66M	159.11M	308.09M	414.84M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.72%	0.17%	-0.05%	0.36%	0.87%	0.4%	0.73%	0.04%	0.94%	0.35%
EPS (Diluted)+	1.06	1.24	1.16	1.56	2.86	3.87	6.62	6.88	13.22	17.78
EPS Growth %	0.71%	0.17%	-0.06%	0.34%	0.83%	0.35%	0.71%	0.04%	0.92%	0.34%
EPS (Basic)	1.06	1.26	1.19	1.60	2.94	3.96	6.73	6.97	13.37	17.92
Diluted Shares Outstanding	20.97M	21.07M	21.5M	21.68M	22.14M	22.85M	23.06M	23.13M	23.31M	23.33M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	545.28M	614.39M	667.85M	773.06M	1.09B	1.55B	2.03B	2.75B	3.77B	4.89B
Asset Growth %	0.25%	0.13%	0.09%	0.16%	0.41%	0.42%	0.31%	0.36%	0.37%	0.3%
Total Investment Assets+	688.28M	429.6M	958.65M	1.08B	807.83M	1.21B	1.56B	2.03B	0	3.95B
Long-Term Investments	344.14M	429.6M	479.32M	567.96M	807.83M	1.21B	1.56B	1.95B	0	3.94B
Short-Term Investments	344.14M	429.6M	479.32M	510.25M	729.53M	1.08B	1.39B	1.8B	0	1.81B
Total Current Assets+	491.83M	67.74M	580.86M	667.3M	0	0	0	0	517.74M	0
Cash & Equivalents	24.54M	50.75M	81.75M	75.09M	100.41M	77.09M	121.04M	156.27M	126.69M	113.21M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	0	923K	-953.12M	-1.33B	-1.74B	-2.33B	0	-2.45B
Goodwill & Intangibles+	3.54M	3.54M	3.54M	3.54M	3.54M	3.54M	3.54M	3.54M	3.54M	3.54M
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	3.54M	3.54M	3.54M	3.54M	0	0	0	0	3.54M	0
PP&E (Net)	340.86M	-6.61M	-2.49M	-7.18M	22.63M	46.19M	49.3M	53.48M	63.4M	82.92M
Other Assets	-347.68M	113.52M	-395.87M	-465.74M	-834M	-1.26B	-1.62B	-2.01B	3.58B	-4.03B
Total Liabilities	431.83M	404.18M	429.66M	509.08M	684.67M	970.66M	1.33B	2B	2.69B	3.4B
Total Debt+	29.6M	0	0	0	16.74M	42.57M	85.39M	195.75M	183.85M	184.12M
Net Debt	5.06M	-50.75M	-81.75M	-75.09M	-83.66M	-34.52M	-35.65M	39.47M	57.15M	70.91M
Long-Term Debt	29.6M	0	0	0	0	0	42.7M	195.75M	183.85M	184.12M
Short-Term Debt	0	0	0	0	16.74M	42.57M	42.7M	0	0	0
Total Current Liabilities+	11.24M	12.84M	9.74M	11.65M	0	0	0	0	1.49B	0
Accounts Payable	11.24M	12.84M	9.74M	11.65M	19.52M	26.32M	39.36M	63.38M	92.5M	99.12M
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	-11.24M	-12.84M	-9.74M	-11.65M	-36.26M	-68.89M	-82.06M	-63.38M	-92.5M	-99.12M
Deferred Taxes	0	1000K	1000K	1000K	0	1000K	0	0	0	0
Other Liabilities	-29.6M	0	0	0	0	-4.65M	-42.7M	-195.75M	737.94M	-184.12M
Total Equity+	113.45M	210.21M	238.19M	263.99M	405.88M	576.24M	699.34M	745.45M	1.09B	1.48B
Equity Growth %	0.23%	0.85%	0.13%	0.11%	0.54%	0.42%	0.21%	0.07%	0.46%	0.37%
Shareholders Equity	113.45M	210.21M	238.19M	263.99M	405.88M	576.24M	699.34M	745.45M	1.09B	1.48B
Minority Interest	0	0	0	0	0	0	0	0	0	0
Retained Earnings	29.57M	53.64M	73.5M	106.55M	162.91M	243.31M	385.94M	533.12M	828.25M	1.23B
Common Stock	1K	210K	210K	212K	222K	228K	228K	231K	232K	233K
Accumulated OCI	3.65M	3.01M	9.39M	-1.26M	13.52M	41.38M	18.13M	-134.92M	-94.62M	-97.21M
Return on Equity (ROE)	0.22%	0.16%	0.11%	0.13%	0.19%	0.18%	0.24%	0.22%	0.34%	0.32%
Return on Assets (ROA)	0.05%	0.05%	0.04%	0.05%	0.07%	0.07%	0.09%	0.07%	0.09%	0.1%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	0.26x	-	-	-	0.04x	0.07x	0.12x	0.26x	0.17x	0.12x
Book Value per Share	5.41	9.98	11.08	12.17	18.34	25.22	30.32	32.24	46.63	63.58
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	78.7M	73.74M	77.4M	103.98M	178.36M	279.97M	407.04M	557.82M	859.84M	976.3M
Operating CF Growth %	-0.02%	-0.06%	0.05%	0.34%	0.72%	0.57%	0.45%	0.37%	0.54%	0.14%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	22.27M	26.17M	24.9M	33.79M	63.32M	88.42M	152.66M	159.11M	308.09M	414.84M
Depreciation & Amortization	642K	636K	515K	631K	682K	1.57M	2.31M	2.72M	3.27M	5.8M
Stock-Based Compensation	65K	492K	652K	1.6M	2.74M	3.58M	4.84M	6.68M	9.36M	14.15M
Deferred Taxes	-879K	561K	1.06M	-3.23M	-125K	616K	-576K	-14.19M	-9.43M	-3.83M
Other Non-Cash Items	-59K	-176K	-151K	6.27M	-12.75M	-20.39M	-25.64M	26.9M	-21.13M	-50.72M
Working Capital Changes	56.66M	46.06M	50.42M	64.92M	124.49M	206.18M	273.45M	376.6M	569.67M	596.06M
Cash from Investing+	-80.05M	-88.14M	-42.43M	-106.54M	-230.79M	-379.43M	-351.95M	-708.57M	-860.89M	-960.13M
Capital Expenditures	-231K	-565K	-179K	-1.27M	-19.62M	-32.88M	-5.92M	-6.9M	-6.61M	-23.94M
Acquisitions	0	0	0	0	0	0	0	0	0	0
Purchase of Investments	-128.58M	-152.01M	-143.19M	-207.65M	-336.09M	-567.55M	-679.79M	-803.55M	-1.4B	-1.71B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	0	0	0	0	0	5.08M	0	-76.62M	59.92M	-312K
Cash from Financing+	1.93M	40.61M	-3.97M	-4.1M	77.75M	76.14M	-11.14M	185.99M	-28.52M	-29.66M
Dividends Paid	0	-2.1M	-5.04M	-5.91M	-6.93M	-8.07M	-10.02M	-11.93M	-12.95M	-13.94M
Share Repurchases	0	0	0	0	-617K	-1.8M	-2.1M	-3.29M	-4.28M	-17.05M
Stock Issued	0	0	0	0	0	0	0	0	0	0
Debt Issuance (Net)	1000K	-1000K	-9K	0	1000K	1000K	0	1000K	-1000K	0
Other Financing	60K	72.84M	1.08M	1.81M	68M	60.32M	982K	46.21M	713K	1.33M
Net Change in Cash+	586K	26.21M	31M	-6.66M	25.32M	-23.32M	43.95M	35.23M	-29.58M	-13.48M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	23.96M	24.54M	50.75M	81.75M	75.09M	100.41M	77.09M	121.04M	156.27M	126.69M
Cash at End	24.54M	50.75M	81.75M	75.09M	100.41M	77.09M	121.04M	156.27M	126.69M	113.21M
Free Cash Flow+	78.47M	73.18M	77.22M	102.71M	158.74M	247.1M	401.12M	550.91M	853.23M	952.36M
FCF Growth %	-0.01%	-0.07%	0.06%	0.33%	0.55%	0.56%	0.62%	0.37%	0.55%	0.12%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	3.74	3.47	3.59	4.74	7.17	10.81	17.39	23.82	36.61	40.82

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	58.36%	72.08%	79.38%	81.78%	75.92%	78.17%	71.11%	76.69%	68.64%	67.58%
Medical Cost Ratio	31.51%	54.45%	66.86%	69.55%	65.09%	69.06%	60.84%	65.77%	58.31%	57.14%
Return on Equity (ROE)	21.62%	16.17%	11.11%	13.46%	18.9%	18.01%	23.94%	22.03%	33.63%	32.28%
Return on Assets (ROA)	4.53%	4.51%	3.88%	4.69%	6.79%	6.7%	8.55%	6.67%	9.45%	9.58%
Equity / Assets	20.81%	34.22%	35.67%	34.15%	37.22%	37.25%	34.52%	27.14%	28.81%	30.36%
Book Value / Share	5.41	9.98	11.08	12.17	18.34	25.22	30.32	32.24	46.63	63.58
Debt / Equity	0.26x	-	-	-	0.04x	0.07x	0.12x	0.26x	0.17x	0.12x
Revenue Growth	26.57%	75.71%	31.89%	18.92%	42.22%	45.59%	42.09%	28.36%	45.98%	29.65%

Frequently Asked Questions

Valuation & Price

Kinsale Capital Group, Inc. (KNSL) has a price-to-earnings (P/E) ratio of 21.4x. This is roughly in line with market averages.

Growth & Financials

Kinsale Capital Group, Inc. (KNSL) grew revenue by 29.7% over the past year. This is strong growth.

Yes, Kinsale Capital Group, Inc. (KNSL) is profitable, generating $474.1M in net income for fiscal year 2024 (26.1% net margin).

Dividend & Returns

Yes, Kinsale Capital Group, Inc. (KNSL) pays a dividend with a yield of 0.16%. This makes it attractive for income-focused investors.

Kinsale Capital Group, Inc. (KNSL) has a return on equity (ROE) of 32.3%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics

Kinsale Capital Group, Inc. (KNSL) has a combined ratio of 67.6%. A ratio below 100% indicates underwriting profitability.

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