A Business at a Glance
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Kinsale Capital Group, Inc.
KNSL
$8.1B
Mkt Cap
$349.10
+5.06%
Kinsale Capital Group, Inc. (KNSL) has a current P/E ratio of 16.1, compared to its historical median P/E of 34.6. The stock is currently considered Cheap based on its historical valuation range.
Kinsale Capital Group, Inc. (KNSL) has a 5-year average return on invested capital (ROIC) of 24.9%. This indicates strong capital allocation and a potential competitive advantage.
Kinsale Capital Group, Inc. (KNSL) has a market capitalization of $8.1B. It is classified as a mid-cap stock.
Yes, Kinsale Capital Group, Inc. (KNSL) pays a dividend with a trailing twelve-month yield of 0.22%. The company also returns capital through share buybacks, with a buyback yield of 1.77%.
Based on historical P/E analysis, Kinsale Capital Group, Inc. (KNSL) appears cheap. The current P/E of 16.1 is 53% below its historical median of 34.6. The estimated fair value CAGR (P/E method) is 41.6%.
Kinsale Capital Group, Inc. (KNSL) operates in the Fire, Marine & Casualty Insurance industry, within the Financials sector.
Kinsale is a property and casualty insurance company focused exclusively on the excess and surplus lines (E&S) market in the United States, where it writes coverages for hard-to-place risks including newly established companies, high-risk operations, and insureds with poor loss histories. The company distributes its products through a network of independent insurance brokers across all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands, with an average premium per policy of $13,400 in 2025. Kinsale's business model emphasizes underwriting profitability and capital efficiency, with specialized underwriters developing in-depth expertise in individual lines of business; the company's portfolio is composed of 70.7% casualty and 29.3% property premiums, with commercial lines representing 97% of gross written premiums. The company differentiates itself through proprietary technology and digital capabilities that enable rapid data collection and analysis, vigilant expense control, and direct management of underwriting and claims operations. Kinsale's target market comprises small- to medium-sized accounts believed to face less competition and offer better pricing, and the company's experienced management team averages over 30 years of relevant industry experience.
【Strong underwriting momentum continuing】 Management expects to generate attractive long-term returns and remains optimistic about capitalizing on opportunities in the E&S market, with expectations for returns in the low to mid-20s or better. The company anticipates that reported losses will continue to come in below expectations and that loss ratios in long-tail casualty lines will gradually decline as inflation normalizes, though this normalization is expected to occur gradually rather than suddenly. Management is deploying significant capital to shareholders through a $250 million buyback authorization and increased quarterly dividends, while continuing to invest in technology infrastructure including a complete rewrite of the enterprise system to accelerate implementation of new technologies and AI innovations. The competitive environment remains active, with management noting that pricing in the commercial property market is expected to moderate going forward, though the company believes its underwriting model and cost advantage position it to maintain attractive returns.
No forward guidance provided.
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.9B | 1.9B | 1.6B | 1.2B | 839M | 653M |
| Net Income | 527M | 504M | 415M | 308M | 159M | 153M |
| EPS | $22.72 | $21.65 | $17.78 | $13.22 | $6.88 | $6.62 |
| Free Cash Flow | 1.0B | 990M | 952M | 853M | 551M | 401M |
| ROIC | 0.0% | 26.2% | 28.2% | 27.9% | 18.9% | 23.2% |
| Gross Margin | - | 52.5% | 51.3% | 51.0% | 45.4% | 50.4% |
| Debt/Equity | 0.11 | 0.11 | 0.12 | 0.17 | 0.36 | 0.12 |
| Dividends/Share | $0.76 | $0.68 | $0.60 | $0.56 | $0.52 | $0.44 |
| Operating Income | 0 | 634M | 515M | 384M | 196M | 189M |
| Operating Margin | 0.0% | 33.8% | 32.4% | 31.4% | 23.3% | 28.9% |
| ROE | 26.8% | 29.3% | 32.3% | 33.6% | 22.0% | 23.9% |
| Shares Outstanding | 23M | 23M | 23M | 23M | 23M | 23M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 64M | 81M | 142M | 187M | 222M | 316M | 460M | 653M | 839M | 1.2B | 1.6B | 1.9B | 1.9B |
| Gross Margin | 35.4% | 47.6% | 49.9% | 44.5% | 42.4% | 46.3% | 42.6% | 50.4% | 45.4% | 51.0% | 51.3% | 52.5% | N/A |
| 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 | 9.8M | 16M | 19M | 18M | 20M | 28M | 36M | 49M | 65M | 86M | 109M | 129M | 132M |
| EBIT | 19M | 34M | 40M | 39M | 40M | 76M | 100M | 189M | 196M | 384M | 515M | 634M | 0 |
| Op. Margin | 30.6% | 41.6% | 27.9% | 20.6% | 18.2% | 24.1% | 21.8% | 28.9% | 23.3% | 31.4% | 32.4% | 33.8% | 0.0% |
| Net Income | 13M | 22M | 26M | 25M | 34M | 63M | 88M | 153M | 159M | 308M | 415M | 504M | 527M |
| Net Margin | 20.4% | 27.6% | 18.5% | 13.3% | 15.2% | 20.0% | 19.2% | 23.4% | 19.0% | 25.2% | 26.1% | 26.9% | 27.5% |
| Non-Recurring | 122K | 0 | 276K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 14.4% | 20.4% | 16.1% | 11.1% | 13.5% | 18.9% | 18.0% | 23.2% | 18.9% | 27.9% | 28.2% | 26.2% | 0.0% |
| ROE | 15.3% | 21.6% | 16.2% | 11.1% | 13.5% | 18.9% | 18.0% | 23.9% | 22.0% | 33.6% | 32.3% | 29.3% | 26.8% |
| ROA | N/A | 4.1% | 4.5% | 3.9% | 4.7% | 6.8% | 6.7% | 8.5% | 6.7% | 9.5% | 9.6% | 9.2% | 8.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 80M | 79M | 74M | 77M | 104M | 178M | 280M | 407M | 558M | 860M | 976M | 1.0B | 1.1B |
| Free Cash Flow | 79M | 78M | 73M | 77M | 103M | 159M | 247M | 401M | 551M | 853M | 952M | 990M | 1.0B |
| Owner Earnings | 79M | 78M | 73M | 76M | 102M | 175M | 273M | 397M | 548M | 847M | 945M | 1.0B | 1.0B |
| CapEx | 1.1M | 231K | 565K | 179K | 1.3M | 20M | 33M | 5.9M | 6.9M | 6.6M | 24M | 54M | 49M |
| Maint. CapEx | 570K | 642K | 636K | 515K | 631K | 682K | 3.3M | 5.6M | 2.7M | 3.3M | 17M | 17M | 16M |
| Growth CapEx | 489K | 0 | 0 | 0 | 642K | 19M | 30M | 350K | 4.2M | 3.3M | 6.6M | 37M | 33M |
| D&A | 570K | 642K | 636K | 515K | 631K | 682K | 3.3M | 5.6M | 2.7M | 3.3M | 17M | 17M | 16M |
| CapEx/OCF | N/A | N/A | 0.8% | 0.2% | 1.2% | 11.0% | 11.7% | 1.5% | 1.2% | 0.8% | 2.5% | 5.1% | 4.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 2.1M | 5.0M | 5.9M | 6.9M | 8.1M | 10M | 12M | 13M | 14M | 16M | 18M |
| Dividend Yield | N/A | N/A | 0.4% | 0.6% | 0.5% | 0.4% | 0.2% | 0.2% | 0.2% | 0.2% | 0.1% | 0.2% | 0.2% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10M | 90M | 142M |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.1% | 1.0% | 1.8% |
| Stock-Based Comp | 58K | 65K | 492K | 652K | 1.6M | 2.7M | 3.6M | 4.8M | 6.7M | 9.4M | 14M | 18M | 18M |
| Debt Repayment | 233K | 30K | 0 | 0 | 0 | 628K | 0 | 0 | 43M | 62M | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -14M | -25M | -51M | -82M | -75M | -84M | -35M | -36M | 71M | 94M | 73M | 57M | 5.1M |
| Cash & Equiv. | 24M | 25M | 51M | 82M | 75M | 100M | 77M | 121M | 156M | 127M | 113M | 163M | 219M |
| Long-Term Debt | 11M | 2.0M | 0 | 0 | 0 | N/A | 0 | 43M | 196M | 184M | 184M | 224M | 224M |
| Debt/Equity | 0.11 | 0.02 | 0.00 | 0.00 | 0.00 | 0.04 | 0.07 | 0.12 | 0.36 | 0.17 | 0.12 | 0.11 | 0.11 |
| Interest Coverage | 19.5 | 28.0 | 30.4 | N/A | N/A | 380.3 | 597.7 | 189.9 | 45.6 | 37.3 | 50.8 | 59.6 | 59.6 |
| Equity | 93M | 113M | 210M | 238M | 264M | 406M | 576M | 699M | 745M | 1.1B | 1.5B | 2.0B | 2.0B |
| Total Assets | N/A | 545M | 614M | 668M | 773M | 1.1B | 1.5B | 2.0B | 2.7B | 3.8B | 4.9B | 6.0B | 6.2B |
| Total Liabilities | 1.6M | 432M | 404M | 430M | 509M | 685M | 971M | 1.3B | 2.0B | 2.7B | 3.4B | 4.1B | 4.2B |
| Intangibles | N/A | 3.5M | 3.5M | 3.5M | 3.5M | 3.5M | 3.5M | 3.5M | 3.5M | 3.5M | 3.5M | 3.5M | 3.5M |
| Retained Earnings | N/A | 30M | 54M | 74M | 107M | 163M | 243M | 386M | 533M | 828M | 1.2B | 1.7B | 1.8B |
| Working Capital | 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 |
| Current Assets | 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 |
| Current Liabilities | 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 |
| Per Share Data | |||||||||||||
| EPS | N/A | N/A | 1.25 | 1.16 | 1.56 | 2.86 | 3.87 | 6.62 | 6.88 | 13.22 | 17.78 | 21.65 | 22.72 |
| Owner EPS | N/A | N/A | 3.46 | 3.55 | 4.70 | 7.90 | 11.95 | 17.20 | 23.71 | 36.35 | 40.49 | 43.39 | 44.61 |
| Book Value | N/A | N/A | 10.02 | 11.10 | 12.19 | 18.33 | 25.22 | 30.33 | 32.23 | 46.64 | 63.58 | 84.24 | 85.31 |
| Cash Flow/Share | N/A | N/A | 3.52 | 3.61 | 4.80 | 8.06 | 12.25 | 17.65 | 24.12 | 36.89 | 41.84 | 44.87 | 23.53 |
| Dividends/Share | N/A | N/A | 0.10 | 0.23 | 0.28 | 0.32 | 0.36 | 0.44 | 0.52 | 0.56 | 0.60 | 0.68 | 0.76 |
| Shares Out. | N/A | N/A | 21.0M | 21.5M | 21.7M | 22.1M | 22.8M | 23.1M | 23.1M | 23.3M | 23.3M | 23.3M | 23.1M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | 34.4 | 38.3 | 34.1 | 34.8 | 53.2 | 36.2 | 37.8 | 25.3 | 26.4 | 18.2 | 15.4 |
| P/FCF | N/A | N/A | 9.7 | 12.4 | 11.2 | 13.9 | 19.0 | 13.8 | 10.9 | 9.1 | 11.5 | 9.2 | 7.9 |
| EV/EBIT | N/A | N/A | N/A | N/A | 13.6 | 18.2 | 35.4 | 28.7 | 30.1 | 19.9 | 21.0 | 14.3 | N/A |
| Price/Book | N/A | N/A | 4.3 | 4.0 | 4.4 | 5.4 | 8.2 | 7.9 | 8.1 | 7.2 | 7.4 | 4.7 | 4.1 |
| Price/Sales | N/A | N/A | 4.3 | 4.2 | 5.3 | 5.8 | 8.0 | 6.4 | 6.6 | 6.5 | 6.5 | 5.5 | 4.2 |
| FCF Yield | N/A | N/A | 8.1% | 8.1% | 8.9% | 7.2% | 5.3% | 7.3% | 9.2% | 11.0% | 8.7% | 10.8% | 12.6% |
| Market Cap | 0 | N/A | 901M | 954M | 1.2B | 2.2B | 4.7B | 5.5B | 6.0B | 7.8B | 11.0B | 9.1B | 8.1B |
| Avg. Price | 0.00 | N/A | 22.97 | 36.26 | 53.89 | 83.22 | 160.11 | 177.91 | 240.32 | 343.69 | 441.51 | 443.88 | 349.10 |
| Year-End Price | 0.00 | N/A | 33.74 | 44.45 | 53.24 | 99.50 | 205.98 | 239.69 | 260.10 | 334.05 | 469.62 | 393.13 | 349.10 |
Kinsale Capital Group, Inc. passes 8 of 9 quality checks, indicating strong fundamentals.
Kinsale Capital Group, Inc. trades at 16.1x trailing earnings, compared to its 15-year median P/E of 34.6x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 8.2x vs a median of 11.4x. The company's 5-year average ROIC is 24.9% with a gross margin of 50.1%. Total shareholder yield (dividends + buybacks) is 2.0%. At current prices, the estimated annualized return to fair value is +37.9%.
Kinsale Capital Group, Inc. (KNSL) reported annual revenue of $1.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
Kinsale Capital Group, Inc. (KNSL) has a net profit margin of 26.9%. This is a strong margin indicating high profitability.
Kinsale Capital Group, Inc. (KNSL) generated $990 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Kinsale Capital Group, Inc. (KNSL) has a debt-to-equity ratio of 0.11. This indicates a conservatively financed balance sheet.
Kinsale Capital Group, Inc. (KNSL) reported earnings per share (EPS) of $21.65 in its most recent fiscal year.
Kinsale Capital Group, Inc. (KNSL) has a return on equity (ROE) of 29.3%. This indicates the company generates strong returns for shareholders.
Kinsale Capital Group, Inc. (KNSL) has a 5-year average gross margin of 50.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 12 years of financial data for Kinsale Capital Group, Inc. (KNSL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Kinsale Capital Group, Inc. (KNSL) has a book value per share of $84.24, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects to generate attractive long-term returns and remains optimistic about capitalizing on opportunities in the E&S market, with expectations for returns in the low to mid-20s or better. The company anticipates that reported losses will continue to come in below expectations and that loss ratios in long-tail casualty lines will gradually decline as inflation normalizes, though this normalization is expected to occur gradually rather than suddenly. Management is deploying significant capital to shareholders through a $250 million buyback authorization and increased quarterly dividends, while continuing to invest in technology infrastructure including a complete rewrite of the enterprise system to accelerate implementation of new technologies and AI innovations. The competitive environment remains active, with management noting that pricing in the commercial property market is expected to moderate going forward, though the company believes its underwriting model and cost advantage position it to maintain attractive returns.