Latest Ratios: P/E Ratio 10.8x · EV/EBITDA 9.9x · ROE 5.3%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.5B | $1.5B | $1.5B | $1.3B | $1.2B | — | — | — | — | — | — |
| Enterprise Value | $2.3B | $2.3B | $2.9B | $2.6B | $2.3B | — | — | — | — | — | — |
| P/E Ratio → | 10.82 | 10.22 | 4.75 | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.30 | 0.31 | 0.33 | 0.26 | 0.21 | — | — | — | — | — | — |
| P/B Ratio | 0.58 | 0.55 | 0.54 | 0.51 | 0.48 | — | — | — | — | — | — |
| P/FCF | 2.63 | 2.64 | 4.58 | — | — | — | — | — | — | — | — |
| P/OCF | 2.50 | 2.51 | 3.94 | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.49 | 0.62 | 0.53 | 0.43 | — | — | — | — | — | — |
| EV / EBITDA | 9.95 | 9.97 | 6.49 | — | — | — | — | — | — | — | — |
| EV / EBIT | 14.54 | 11.77 | 6.44 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 4.23 | 8.70 | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.7% | 29.7% | 12.7% | 22.8% | -3.9% | 6.3% | 22.4% | 23.7% | 20.8% | 16.5% | 14.2% |
| Operating Margin | 3.3% | 3.3% | 8.4% | -7.0% | -6.8% | -4.4% | 9.8% | 13.2% | 5.4% | 6.0% | 0.1% |
| Net Profit Margin | 3.0% | 3.0% | 6.9% | -5.5% | -5.3% | -2.2% | 7.9% | 10.6% | 5.2% | 4.5% | 0.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.3% | 5.3% | 12.0% | -11.0% | -8.9% | -2.9% | 9.6% | 15.1% | 7.4% | 5.9% | 0.8% |
| ROA | 1.1% | 1.1% | 2.5% | -2.1% | -2.0% | -0.8% | 3.0% | 4.3% | 1.9% | 1.5% | 0.2% |
| ROIC | 3.1% | 3.1% | 7.3% | -7.0% | -6.5% | -3.6% | 7.5% | 11.7% | 4.6% | 4.6% | 0.1% |
| ROCE | 1.3% | 1.3% | 3.1% | -3.3% | -3.5% | -3.1% | 3.7% | 5.4% | 2.8% | 2.9% | 0.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.38 | 0.38 | 0.51 | 0.55 | 0.57 | 0.28 | 0.26 | 0.20 | 0.30 | 0.28 | 0.38 |
| Debt / EBITDA | 4.28 | 4.28 | 3.22 | — | — | — | 2.08 | 1.07 | 2.45 | 3.30 | 32.68 |
| Net Debt / Equity | — | 0.33 | 0.49 | 0.53 | 0.48 | 0.24 | 0.21 | 0.16 | 0.27 | 0.26 | 0.32 |
| Net Debt / EBITDA | 3.74 | 3.74 | 3.07 | — | — | — | 1.71 | 0.89 | 2.25 | 3.05 | 27.65 |
| Debt / FCF | — | 1.59 | 4.12 | — | — | 3.32 | 2.45 | 1.42 | 1.76 | 2.67 | 2.85 |
| Interest Coverage | 5.17 | 5.17 | 7.83 | -5.19 | -5.78 | -4.72 | 15.17 | 16.57 | 5.59 | 5.62 | 1.08 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | — | — | — | 0.39 | 4.13 | 0.33 | — | — | 18.01 | 1.25 | 16.86 |
| Quick Ratio | — | — | — | 0.39 | 4.13 | 0.33 | — | — | 21.99 | 1.45 | 19.75 |
| Cash Ratio | — | — | — | 0.13 | 44.07 | 0.06 | — | — | 15.13 | 1.13 | 15.33 |
| Asset Turnover | — | 0.38 | 0.37 | 0.39 | 0.41 | 0.38 | 0.36 | 0.39 | 0.32 | 0.32 | 0.31 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.1% | 5.4% | 5.3% | 6.2% | 6.8% | — | — | — | — | — | — |
| Payout Ratio | 55.5% | 55.5% | 25.2% | — | — | — | 19.2% | 12.8% | 29.7% | 40.9% | 292.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.2% | 9.8% | 21.1% | — | — | — | — | — | — | — | — |
| FCF Yield | 38.0% | 37.8% | 21.8% | — | — | — | — | — | — | — | — |
| Buyback Yield | 20.7% | 20.6% | 2.6% | 0.0% | 0.0% | — | — | — | — | — | — |
| Total Shareholder Yield | 25.8% | 26.0% | 7.9% | 6.2% | 6.8% | — | — | — | — | — | — |
| Shares Outstanding | — | $63M | $65M | $64M | $64M | $64M | $67M | $67M | $59M | $52M | $51M |
Includes 30+ ratios · 30 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying KMPB stock.
Kemper Corporation 5.875% Fixed's current P/E ratio is 10.8x. The historical average is 7.5x. This places it at the 100th percentile of its historical range.
Kemper Corporation 5.875% Fixed's current EV/EBITDA is 9.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.2x.
Kemper Corporation 5.875% Fixed's return on equity (ROE) is 5.3%. The historical average is 7.2%.
Based on historical data, Kemper Corporation 5.875% Fixed is trading at a P/E of 10.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Kemper Corporation 5.875% Fixed's current dividend yield is 5.13% with a payout ratio of 55.5%.
Kemper Corporation 5.875% Fixed has 29.7% gross margin and 3.3% operating margin.
Kemper Corporation 5.875% Fixed's Debt/EBITDA ratio is 4.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Underwriting losses and reserve adequacy
Metrics are mathematically derived from official filings.
Combined Ratio Deteriorates Sharply
Kemper's combined ratio deteriorated from 89.9% in 2025Q1 to 102.7% in 2025Q3, per reported financials, indicating underwriting losses that reversed prior profitability.
The combined ratio crossed the 100% threshold in 2025Q3 and remained elevated in 2026Q1, suggesting that current accident year losses are outpacing premiums. The loss ratio spiked to 100.0% in 2025Q3, while the expense ratio compressed to 2.6%, implying that the deterioration is driven by claims severity rather than cost structure. This trend, combined with prior reserve releases that may have masked underlying weakness, warrants close monitoring of reserve adequacy.
ROE Collapses on Underwriting Losses
ROE swung from 3.5% in 2025Q1 to -19.3% in 2026Q2, per quarterly data, as underwriting losses and investment volatility eroded earnings, despite a stable dividend yield.
The decomposition of ROE shows that underwriting losses, reflected in combined ratios above 100%, are the primary driver of the negative returns. Investment income is not separately disclosed, but the static investment portfolio and net investment sales suggest limited contribution. The sharp decline in equity, from $2.9B to $2.2B, amplifies the negative ROE, indicating that the capital base is being consumed by operational losses.
Leverage Rises as Capital Erodes
Debt-to-equity rose from 0.32 in 2025Q2 to 0.38 in 2026Q2, per balance sheet data, as equity contracted 24%, signaling increased financial leverage despite stable debt levels.
The premium-to-surplus ratio is not directly provided, but the equity-to-assets ratio fell from 23.2% to 18.5% over the same period, indicating a thinning capital buffer relative to the asset base. While the current D/E of 0.38 remains moderate, the trend is concerning because equity is shrinking while debt remains constant. This suggests that underwriting losses are eroding the surplus that supports premium writing, potentially constraining future capacity.
Valuation Discount Reflects Weakness
Kemper trades at a P/B of 0.58 versus peers like HIG at 2.07 and CINF at 1.67, per peer data, implying the market prices in lower ROE and higher risk.
The deep discount to book value is justified by Kemper's negative ROE of -19.4% compared to peer ROEs above 20%. While the P/E of 10.78 appears low, it is distorted by the recent loss; forward P/E of 12.38 suggests the market expects some recovery. The discount may also reflect concerns about reserve adequacy and the sustainability of the dividend, which at 5.1% yield is higher than peers but may be at risk if losses persist.
Combined Ratio Masks Reserve Releases
The combined ratio, as reported, may understate true underwriting performance because prior-year reserve releases have artificially lowered loss ratios, per financial data, obscuring current accident year deterioration.
In 2024, loss ratios exceeded combined ratios in several quarters (e.g., 114.8% loss vs. 89.9% combined in 2024Q4), indicating favorable reserve development that boosted earnings. This suggests that the reported combined ratio is not a clean measure of underwriting profitability. Investors should adjust for reserve releases by analyzing the current accident year loss ratio, which appears to be above 100% in recent quarters, to assess the true cost of writing policies.