A Business at a Glance
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KINGSTONE COMPANIES, INC.
KINS
$282M
Mkt Cap
$19.91
+5.46%
KINGSTONE COMPANIES, INC. (KINS) has a current P/E ratio of 8.8, compared to its historical median P/E of 17.6. The stock is currently considered Fair based on its historical valuation range.
KINGSTONE COMPANIES, INC. (KINS) has a 5-year average return on invested capital (ROIC) of 5.2%. This is below average and may indicate limited pricing power.
KINGSTONE COMPANIES, INC. (KINS) has a market capitalization of $282M. It is classified as a small-cap stock.
Yes, KINGSTONE COMPANIES, INC. (KINS) pays a dividend with a trailing twelve-month yield of 0.50%.
Based on historical P/E analysis, KINGSTONE COMPANIES, INC. (KINS) appears fair. The current P/E of 8.8 is 50% below its historical median of 17.6. The estimated fair value CAGR (P/E method) is 55.5%.
KINGSTONE COMPANIES, INC. (KINS) operates in the Fire, Marine & Casualty Insurance industry, within the Financials sector.
KINGSTONE COMPANIES, INC. (KINS) reported annual revenue of $215 million in its most recent fiscal year, based on SEC EDGAR filings.
Table of Contents (a)Business Development As used in this Annual Report, references to the “Company,” “we,” “us,” or “our” refer to Kingstone Companies, Inc. (“Kingstone”) and its subsidiaries. We offer property and casualty insurance products through our wholly-owned subsidiary, Kingstone Insurance Company (“KICO”). KICO is a New York domiciled carrier writing business through retail and wholesale agents and brokers. KICO is actively writing personal lines and commercial auto insurance in New York, and in 2024 was the 12th largest writer of homeowners insurance in New York. KICO is also licensed in the states of New Jersey, Rhode Island, Massachusetts, Connecticut, Pennsylvania, New Hampshire, and Maine. For the years ended December 31, 2024 and 2023, respectively, 96.0% and 88.3% of KICO’s direct written premiums came from the New York policies. We refer to our New York business as our “Core” business and the business outside of New York as our “non-Core” business.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 215M | 215M | 155M | 144M | 130M | 161M |
| Net Income | 41M | 41M | 18M | -6.2M | -23M | -7.4M |
| EPS | $2.88 | $2.88 | $1.48 | $-0.57 | $-2.12 | $-0.70 |
| Free Cash Flow | 73M | 73M | 56M | -13M | -5.5M | 20M |
| ROIC | 35.5% | 41.4% | 33.0% | -12.2% | -29.2% | -6.9% |
| Gross Margin | 60.8% | 60.8% | 59.6% | 42.5% | 32.1% | - |
| Debt/Equity | 0.04 | 0.04 | 0.17 | 1.06 | 1.73 | 0.62 |
| Dividends/Share | $0.10 | $0.10 | $0.00 | $0.00 | $0.12 | $0.16 |
| Operating Income | 51M | 51M | 23M | -7.4M | -28M | -9.4M |
| Operating Margin | 23.8% | 23.8% | 15.0% | -5.1% | -21.5% | -5.8% |
| ROE | 33.2% | 43.0% | 36.3% | -17.5% | -40.3% | -8.8% |
| Shares Outstanding | 14M | 14M | 12M | 11M | 11M | 11M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 50M | 64M | 77M | 93M | 114M | 145M | 131M | 161M | 130M | 144M | 155M | 215M | 215M |
| Gross Margin | 15.7% | 16.1% | 17.3% | 15.4% | 2.6% | -5.7% | N/A | N/A | 32.1% | 42.5% | 59.6% | 60.8% | 60.8% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 12M | 15M | 18M | 21M | 25M | 30M | 32M | 33M | 35M | 33M | 34M | 41M | 41M |
| EBIT | 7.9M | 10M | 13M | 14M | 3.0M | -7.8M | -1.3M | -9.4M | -28M | -7.4M | 23M | 51M | 51M |
| Op. Margin | 15.7% | 16.1% | 17.3% | 15.4% | 2.6% | -5.4% | -1.0% | -5.8% | -21.5% | -5.1% | 15.0% | 23.8% | 23.8% |
| Net Income | 5.3M | 7.0M | 8.9M | 10.0M | 3.1M | -6.0M | 972K | -7.4M | -23M | -6.2M | 18M | 41M | 41M |
| Net Margin | 10.6% | 10.8% | 11.5% | 10.8% | 2.7% | -4.1% | 0.7% | -4.6% | -17.3% | -4.3% | 11.8% | 19.0% | 19.0% |
| Non-Recurring | -707K | 51K | -529K | -84K | 94K | -29K | -832K | -7.2M | 140K | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 13.8% | 16.2% | 17.5% | 11.1% | 2.6% | -5.1% | 0.8% | -6.9% | -29.2% | -12.2% | 33.0% | 41.4% | 35.5% |
| ROE | 14.0% | 16.2% | 17.5% | 13.2% | 3.4% | -6.7% | 1.1% | -8.8% | -40.3% | -17.5% | 36.3% | 43.0% | 33.2% |
| ROA | 4.2% | 4.9% | 5.6% | 4.7% | 1.2% | -2.0% | 0.3% | -2.3% | -6.9% | -1.9% | 5.3% | 9.8% | 9.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 17M | 20M | 15M | 28M | 22M | 30M | -10M | 24M | -916K | -11M | 58M | 76M | 76M |
| Free Cash Flow | 17M | 19M | 15M | 25M | 20M | 26M | -14M | 20M | -5.5M | -13M | 56M | 73M | 73M |
| Owner Earnings | 16M | 19M | 13M | 24M | 17M | 21M | -15M | 19M | -5.6M | -15M | 54M | 72M | 72M |
| CapEx | 808K | 1.3M | 576K | 2.8M | 2.7M | 3.9M | 3.3M | 4.5M | 4.6M | 1.8M | 2.3M | 2.8M | 2.8M |
| Maint. CapEx | 1.1M | 1.6M | 2.3M | 3.3M | 4.8M | 7.2M | 2.9M | 3.3M | 3.3M | 3.0M | 2.4M | 2.6M | 2.6M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 462K | 1.2M | 1.3M | 0 | 0 | 248K | 248K |
| D&A | 1.1M | 1.6M | 2.3M | 3.3M | 4.8M | 7.2M | 2.9M | 3.3M | 3.3M | 3.0M | 2.4M | 2.6M | 2.6M |
| CapEx/OCF | 4.7% | 6.2% | 3.8% | 10.1% | 12.3% | N/A | N/A | 18.5% | N/A | N/A | 4.0% | N/A | 3.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 1.3M | 1.6M | 1.9M | 3.2M | 4.3M | 3.5M | 2.0M | 1.7M | 1.3M | 0 | 0 | 1.4M | 1.4M |
| Dividend Yield | 3.1% | 3.1% | 3.2% | 2.3% | 2.6% | 3.3% | 3.3% | 2.4% | 3.2% | N/A | N/A | N/A | 0.5% |
| Share Buybacks | 47K | 278K | 113K | 177K | 540K | 0 | 1.2M | 1.7M | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.1% | 0.5% | 0.1% | 0.1% | 0.3% | N/A | 1.8% | 3.3% | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 172K | 134K | 107K | 270K | 703K | 1.5M | 1.8M | 1.9M | 1.4M | 833K | 1.4M | 1.5M | 1.5M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -61M | -76M | -92M | -139M | -144M | -171M | -118M | -135M | -104M | -121M | -204M | -7.7M | -7.7M |
| Cash & Equiv. | 9.9M | 14M | 12M | 48M | 21M | 32M | 19M | 24M | 12M | 9.0M | 29M | 12M | 12M |
| Long-Term Debt | N/A | N/A | 0 | 29M | 29M | 29M | 30M | 17M | 25M | 5.7M | 4.3M | 3.1M | 3.1M |
| Debt/Equity | 0.00 | 0.00 | 0.00 | 0.31 | 0.33 | 0.33 | 0.64 | 0.62 | 1.73 | 1.06 | 0.17 | 0.04 | 0.04 |
| Interest Coverage | N/A | 0.7 | N/A | 237.2 | 1.7 | -4.3 | -0.7 | -5.2 | -13.8 | -1.8 | 0.7 | 1.3 | 1.3 |
| Equity | 41M | 45M | 57M | 95M | 89M | 88M | 93M | 76M | 36M | 35M | 67M | 123M | 123M |
| Total Assets | 135M | 149M | 169M | 255M | 267M | 321M | 318M | 331M | 320M | 318M | 375M | 453M | 453M |
| Total Liabilities | 94M | 104M | 113M | 160M | 178M | 233M | 225M | 256M | 284M | 283M | 308M | 331M | 331M |
| Intangibles | 2.2M | 1.8M | 1.4M | 1.0M | 670K | 500K | 500K | 500K | 500K | 500K | 500K | 500K | 500K |
| Retained Earnings | 8.2M | 14M | 21M | 27M | 26M | 17M | 16M | 6.9M | -17M | -23M | -4.8M | 35M | 35M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Liabilities | 3.9M | 4.8M | 5.4M | 7.5M | 6.8M | 10.0M | 8.4M | 7.7M | 6.7M | 4.4M | 11M | 0 | 0 |
| Per Share Data | |||||||||||||
| EPS | 0.72 | 0.94 | 1.14 | 0.94 | 0.29 | -0.55 | 0.09 | -0.70 | -2.12 | -0.57 | 1.48 | 2.88 | 2.88 |
| Owner EPS | 2.18 | 2.52 | 1.63 | 2.30 | 1.58 | 1.95 | -1.38 | 1.82 | -0.53 | -1.40 | 4.36 | 5.07 | 5.07 |
| Book Value | 5.47 | 6.12 | 7.26 | 8.90 | 8.31 | 8.13 | 8.59 | 7.18 | 3.40 | 3.19 | 5.38 | 8.67 | 8.67 |
| Cash Flow/Share | 2.34 | 2.76 | 1.95 | 2.64 | 2.09 | 2.75 | -0.95 | 2.31 | -0.09 | -1.05 | 4.67 | 5.36 | 3.06 |
| Dividends/Share | 0.18 | 0.21 | 0.25 | 0.30 | 0.40 | 0.33 | 0.18 | 0.16 | 0.12 | 0.00 | 0.00 | 0.10 | 0.10 |
| Shares Out. | 7.4M | 7.4M | 7.8M | 10.6M | 10.7M | 10.8M | 10.8M | 10.5M | 10.6M | 10.8M | 12.4M | 14.2M | 14.2M |
| Valuation | |||||||||||||
| P/E Ratio | 9.0 | 7.9 | 9.5 | 17.6 | 55.6 | N/A | 68.7 | N/A | N/A | N/A | 10.4 | N/A | 6.9 |
| P/FCF | 2.9 | 2.9 | 5.8 | 7.0 | 8.8 | 2.8 | N/A | 2.6 | N/A | N/A | 3.4 | N/A | 3.9 |
| EV/EBIT | N/A | N/A | 5.4 | 10.9 | 37.3 | N/A | N/A | N/A | N/A | 1.6 | 3.0 | N/A | 5.4 |
| Price/Book | 1.2 | 1.2 | 1.5 | 1.9 | 1.9 | 0.8 | 0.7 | 0.7 | 0.4 | 0.7 | 2.9 | N/A | 2.3 |
| Price/Sales | 0.9 | 0.8 | 0.8 | 1.5 | 1.5 | 0.7 | 0.5 | 0.4 | 0.3 | 0.1 | 0.6 | N/A | 1.3 |
| FCF Yield | 34.6% | 34.7% | 17.3% | 14.4% | 11.4% | 35.4% | -20.3% | 38.9% | -38.4% | -54.1% | 29.3% | N/A | 25.9% |
| Market Cap | 48M | 55M | 84M | 175M | 172M | 73M | 67M | 51M | 14M | 24M | 190M | 0 | 282M |
| Avg. Price | 5.78 | 6.68 | 7.84 | 13.27 | 15.58 | 9.74 | 5.49 | 6.73 | 3.75 | 1.60 | 6.97 | 0.00 | 19.91 |
| Year-End Price | 6.46 | 7.46 | 10.80 | 16.52 | 16.12 | 6.74 | 6.18 | 4.84 | 1.34 | 2.24 | 15.33 | 0.00 | 19.91 |
KINGSTONE COMPANIES, INC. passes 3 of 9 quality checks, indicating weak fundamentals.
KINGSTONE COMPANIES, INC. trades at 8.8x trailing earnings, compared to its 15-year median P/E of 17.6x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 3.8x vs a median of 4.6x. The company's 5-year average ROIC is 5.2% with a gross margin of 48.8%. Total shareholder yield (dividends) is 0.5%. At current prices, the estimated annualized return to fair value is +15.3%.
KINGSTONE COMPANIES, INC. (KINS) has a net profit margin of 19.0%. This is a healthy margin.
KINGSTONE COMPANIES, INC. (KINS) generated $73 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
KINGSTONE COMPANIES, INC. (KINS) has a debt-to-equity ratio of 0.04. This indicates a conservatively financed balance sheet.
KINGSTONE COMPANIES, INC. (KINS) reported earnings per share (EPS) of $2.88 in its most recent fiscal year.
KINGSTONE COMPANIES, INC. (KINS) has a return on equity (ROE) of 43.0%. This indicates the company generates strong returns for shareholders.
KINGSTONE COMPANIES, INC. (KINS) has a 5-year average gross margin of 48.8%. This indicates decent pricing power.
The Ledger Terminal provides 16 years of financial data for KINGSTONE COMPANIES, INC. (KINS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
KINGSTONE COMPANIES, INC. (KINS) has a book value per share of $8.67, based on its most recent annual SEC filing.