Kingsway Financial Services Inc. (KFS) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 78.11M | 22.15M | 0 | 0 | 0 | 0 | 0 | 0 | 12.11M | 0 | 0 | 24.39M | 0 | 0 | 0 | 32.9M | 0 | 0 | 0 | 0 |
| Cash & Short-Term Investments | 15.23M | 16.45M | 16.9M | 19.79M | 13.76M | 13.63M | 13.78M | 17.15M | 20.18M | 9.26M | 20.34M | 14.32M | 45.61M | 101.92M | 85.53M | 11.86M | 48.36M | 45.91M | 52.63M | 38.85M |
| Cash Only | 15.05M | 16.27M | 9.29M | 12.08M | 6.37M | 5.49M | 6.51M | 9.59M | 20.02M | 9.1M | 20.18M | 14.16M | 8.29M | 64.17M | 48.64M | 11.7M | 13.05M | 10.08M | 18.14M | 17.09M |
| Short-Term Investments | 178K | 178K | 7.61M | 7.71M | 7.39M | 8.14M | 7.28M | 7.56M | 163K | 161K | 0 | 158K | 37.31M | 37.75M | 36.88M | 157K | 35.31M | 35.82M | 34.5M | 21.76M |
| Accounts Receivable | 16.43M | 13.94M | 14.66M | 14.45M | 12.29M | 10.94M | 11.24M | 10.87M | 11.78M | 10.08M | 9.43M | 11.41M | 12.88M | 14.02M | 20.05M | 21.04M | 22.2M | 10.69M | 18.94M | 19.16M |
| Days Sales Outstanding | 34.71 | 33.73 | 35.51 | 38.67 | 36.47 | 33.73 | 37.47 | 37.98 | 37.34 | 33.94 | 36.51 | 39.09 | 44.7 | 86.69 | 74.6 | 81.3 | 64.31 | 86.03 | 77.22 | 82.57 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 34.89M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 46.45M | -8.24M | -31.56M | -34.23M | -26.05M | -24.57M | -25.02M | -28.02M | -19.85M | -19.34M | -29.77M | 0 | -58.48M | -115.94M | -105.57M | 0 | -70.56M | -56.59M | -71.58M | -58.02M |
| Total Non-Current Assets | 154.1M | 137.99M | 0 | 0 | 0 | 0 | 0 | 0 | 185.86M | 197.72M | 0 | 81.61M | 0 | 0 | 0 | 382.63M | 0 | 0 | 0 | 0 |
| Property, Plant & Equipment | 6.42M | 13.37M | 12.8M | 4.24M | 4.28M | 3.96M | 3.21M | 2.72M | 3.07M | 2.74M | 1.48M | 1.57M | 1.72M | 1.68M | 106.91M | 108.88M | 109.87M | 3.35M | 95.12M | 95.94M |
| Fixed Asset Turnover | 3.98x | 2.98x | 4.43x | 7.38x | 6.95x | 8.44x | 9.16x | 9.37x | 9.17x | 12.54x | 17.24x | 17.21x | 15.92x | 0.33x | 0.23x | 0.22x | 0.41x | 0.32x | 0.24x | 0.24x |
| Goodwill | 69.81M | 69.13M | 69.54M | 57.55M | 57.43M | 56.52M | 56.89M | 50.77M | 50.45M | 50.36M | 46.4M | 45.49M | 45.49M | 45.5M | 100.77M | 110.25M | 110.25M | 49.26M | 102.34M | 121.29M |
| Intangible Assets | 50.91M | 52.27M | 54.92M | 40.13M | 41.88M | 40.05M | 42.32M | 31.8M | 33.74M | 35.67M | 30.82M | 30.27M | 31.68M | 33.1M | 101.49M | 105.21M | 106.72M | 30.83M | 100.26M | 83.14M |
| Long-Term Investments | 41.94M | 41.47M | 41.95M | 42.02M | 41.27M | 41.34M | 41.06M | 40.85M | 41.68M | 41.72M | 41.45M | 44.66M | 52.02M | 56.73M | 57.99M | 58.29M | 56.69M | 57.52M | 56.89M | 46.7M |
| Other Non-Current Assets | -14.98M | -41.47M | -183.78M | -143.94M | -144.86M | -141.87M | -143.47M | -126.14M | 51.95M | 62.19M | -124.6M | -44.66M | -130.9M | -137.01M | -367.17M | -27.86M | -383.53M | -140.97M | -354.61M | -347.07M |
| Total Assets | 232.21M | 231.5M | 235.13M | 207.7M | 192.12M | 186.62M | 191.12M | 192.34M | 197.97M | 206.73M | 198.04M | 195.34M | 201.25M | 285.65M | 506.06M | 469.63M | 474.57M | 475.63M | 446.67M | 447.49M |
| Asset Turnover | 0.17x | 0.17x | 0.17x | 0.16x | 0.15x | 0.16x | 0.14x | 0.14x | 0.13x | 0.13x | 0.13x | 0.14x | 0.11x | 0.05x | 0.05x | 0.05x | 0.05x | 0.03x | 0.05x | 0.05x |
| Asset Growth % | 20.87% | 24.05% | 23.03% | 7.98% | -2.96% | -9.73% | -3.49% | -1.54% | -1.63% | -27.63% | -60.87% | -58.4% | -57.59% | -39.94% | 13.29% | 4.95% | 7.9% | 5.12% | 13.27% | 13.4% |
| Total Current Liabilities | 16.94M | 28K | 75K | 0 | 0 | 0 | 0 | 0 | 23.91M | 504K | 0 | 216K | 0 | 0 | 0 | 27.89M | 0 | 0 | 0 | 0 |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 542K | 0 | 282K | -17K | 0 | 0 | 0 | -463K | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - | - | - | - | - | - | 2.97 | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 16.94M | 1.55M | 385K | 0 | 0 | 0 | 0 | 0 | 396K | 504K | 124K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 84M | 0 | 82.31M | 82.83M | 0 | 0 | 0 | 27.86M | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | -1.55M | -385K | 0 | 0 | 0 | 0 | 0 | -84.94M | 0 | -107.55M | -26.66M | -28.28M | -56.75M | -56.58M | -2.22M | -52.52M | -45.27M | -41.93M | -40.86M |
| Current Ratio | 4.61x | 790.93x | - | - | - | - | - | - | 0.51x | - | - | 112.92x | - | - | - | 1.18x | - | - | - | - |
| Quick Ratio | 4.61x | 790.93x | - | - | - | - | - | - | 0.51x | - | - | -48.59x | - | - | - | 1.18x | - | - | - | - |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 182.68M | 206.06M | 199.24M | 0 | 0 | 0 | 0 | 0 | 153.41M | 180.92M | 169.51M | 173.21M | 0 | 0 | 0 | 426.8M | 0 | 0 | 0 | 0 |
| Long-Term Debt | 55.31M | 70.71M | 70.72M | 58.33M | 59.48M | 57.54M | 58.46M | 47.27M | 47.06M | 44.42M | 40.94M | 42.05M | 42.85M | 102.09M | 283.63M | 281.51M | 290.04M | 94.1M | 271.48M | 272.54M |
| Capital Lease Obligations | 5.97M | 5.75M | 6.8M | 2.83M | 2.92M | 2.68M | 1.9M | 1.47M | 1.06M | 694K | 1.05M | 1.26M | 1.33M | 1.22M | 1.19M | 2.02M | 2.22M | 2.48M | 2.6M | 2.81M |
| Deferred Tax Liabilities | 3.02M | 13.75M | 4.57M | 3.8M | 4.02M | 4.37M | 4.71M | 4.8M | 4.96M | 14.06M | 4.46M | 4.29M | 4.26M | 4.18M | 31.25M | 27.86M | 28.05M | 28.55M | 28.14M | 26.5M |
| Other Non-Current Liabilities | 29.96M | 28.69M | 29.41M | -151.39M | -150.76M | -147.7M | -149.72M | -138.41M | -137.08M | 0 | 128.98M | 43M | -130.81M | -190.2M | -400.49M | 51.94M | -410.18M | -214.35M | -389.74M | -390.31M |
| Total Liabilities | 199.61M | 197.09M | 199.31M | 172.09M | 170.65M | 168.31M | 171.45M | 175.13M | 177.33M | 182.12M | 169.92M | 173.42M | 175.49M | 263.53M | 457.07M | 454.69M | 462.7M | 460.88M | 433.02M | 432.57M |
| Total Debt | 78.22M | 78.02M | 77.91M | 61.16M | 62.4M | 60.22M | 60.36M | 48.74M | 48.52M | 45.61M | 42.11M | 43.3M | 44.18M | 103.31M | 284.81M | 283.53M | 292.26M | 96.58M | 274.08M | 275.36M |
| Net Debt | 63.17M | 61.74M | 68.62M | 49.08M | 56.03M | 54.73M | 53.85M | 39.14M | 28.5M | 28.12M | 21.92M | 29.14M | 35.89M | 39.14M | 236.17M | 271.83M | 279.2M | 86.5M | 255.94M | 258.26M |
| Debt / Equity | 2.40x | 2.27x | 2.18x | 1.72x | 2.91x | 3.29x | 3.07x | 2.83x | 2.35x | 1.85x | 1.50x | 1.98x | 1.71x | 4.67x | 5.81x | 18.98x | 24.61x | 6.55x | 20.07x | 18.46x |
| Debt / EBITDA | 45.16x | - | 43.02x | - | - | 181.93x | 65.25x | - | 38.75x | - | - | 110.19x | 1.34x | - | - | 185.56x | - | - | - | 353.93x |
| Net Debt / EBITDA | 36.47x | - | 37.89x | - | - | 165.34x | 58.22x | - | 22.76x | - | - | 74.16x | 1.09x | - | - | 177.90x | - | - | - | 331.96x |
| Interest Coverage | -0.64x | -1.00x | 0.76x | -1.61x | -1.73x | -0.39x | -0.84x | -0.94x | -0.25x | -1.05x | -0.20x | - | 10.57x | - | - | - | - | - | - | - |
| Total Equity | 32.6M | 34.41M | 35.82M | 35.61M | 21.47M | 18.3M | 19.68M | 17.22M | 20.64M | 24.61M | 28.13M | 21.92M | 25.77M | 22.12M | 48.98M | 14.94M | 11.88M | 14.75M | 13.65M | 14.92M |
| Equity Growth % | 51.85% | 88.02% | 82.05% | 106.82% | 4% | -25.63% | -30.05% | -21.46% | -19.9% | 11.26% | -42.57% | 46.74% | 116.97% | 49.93% | 258.72% | 0.13% | -36.16% | -20.95% | -47.42% | -50.05% |
| Book Value per Share | 1.14 | 1.24 | 1.26 | 1.31 | 0.79 | 0.67 | 0.72 | 0.63 | 0.76 | 0.91 | 1.07 | 0.87 | 0.98 | 0.95 | 1.90 | 0.65 | 0.52 | 0.65 | 0.60 | 0.67 |
| Total Shareholders' Equity | 29.4M | 31.42M | 32.9M | 33.69M | 19.7M | 16.66M | 18.19M | 20.66M | 23.59M | 27.71M | 31.58M | 25.29M | 28.9M | 21.68M | 34.48M | 1.25M | -1.76M | 773K | 138K | 250K |
| Common Stock | 296K | 296K | 296K | 294K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -376.16M | -373.37M | -371.33M | -368.52M | -364.89M | -361.45M | -359.67M | -351.72M | -349.35M | -346.87M | -345.05M | -344.02M | -342.58M | -370.43M | -362.13M | -400.47M | -397.8M | -395.15M | -395.86M | -394.85M |
| Treasury Stock | -6.54M | -6.54M | -6.54M | -6.54M | -6.54M | -6.2M | -6.2M | -4.65M | -3.76M | -3.7M | -1.29M | -543K | -492K | -492K | -492K | -492K | -492K | -492K | -492K | -492K |
| Accumulated OCI | 395K | -60K | -407K | -640K | -315K | -718K | -762K | -1.53M | -1.59M | -1.54M | -1.27M | -1.26M | -594K | 26.61M | 31.96M | 36.02M | 30.61M | 30.78M | 31.37M | 32.43M |
| Minority Interest | 3.2M | 2.99M | 2.92M | 1.92M | 1.76M | 1.64M | 1.49M | -3.44M | -2.95M | -3.1M | -3.45M | -3.37M | -3.13M | 437K | 14.5M | 13.69M | 13.63M | 13.98M | 13.52M | 14.67M |