Kingsway Financial Services Inc
Kingsway Financial Services Inc. through its subsidiaries, engages in the extended warranty and business services in the United States. It operates through two segments: Extended Warranty and Kingsway Search Xcelerator. The Extended Warranty segment markets, sells, and administers vehicle service agreements and related products for new and used automobiles, motorcycles, and ATVs. This segment als… Read more
Kingsway Financial Services Inc (KFS) - Net Assets
Latest net assets as of September 2025: $35.82 Million USD
Based on the latest financial reports, Kingsway Financial Services Inc (KFS) has net assets worth $35.82 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($235.13 Million) and total liabilities ($199.31 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $35.82 Million |
| % of Total Assets | 15.23% |
| Annual Growth Rate | -12.52% |
| 5-Year Change | -72.05% |
| 10-Year Change | -63.47% |
| Growth Volatility | 47.1 |
Kingsway Financial Services Inc - Net Assets Trend (1998–2024)
This chart illustrates how Kingsway Financial Services Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Kingsway Financial Services Inc (1998–2024)
The table below shows the annual net assets of Kingsway Financial Services Inc from 1998 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $18.30 Million | -25.63% |
| 2023-12-31 | $24.61 Million | +11.26% |
| 2022-12-31 | $22.12 Million | -64.70% |
| 2021-12-31 | $62.67 Million | -4.28% |
| 2020-12-31 | $65.47 Million | +164.09% |
| 2019-12-31 | $24.79 Million | +35.76% |
| 2018-12-31 | $18.26 Million | -62.96% |
| 2017-12-31 | $49.31 Million | -22.05% |
| 2016-12-31 | $63.26 Million | +26.28% |
| 2015-12-31 | $50.10 Million | +3.94% |
| 2014-12-31 | $48.20 Million | +30.54% |
| 2013-12-31 | $36.92 Million | -43.56% |
| 2012-12-31 | $65.41 Million | -43.80% |
| 2011-12-31 | $116.41 Million | +22.78% |
| 2010-12-31 | $94.81 Million | -44.01% |
| 2009-12-31 | $169.34 Million | -62.67% |
| 2008-12-31 | $453.57 Million | -51.79% |
| 2007-12-31 | $940.80 Million | +4.42% |
| 2006-12-31 | $900.96 Million | +11.96% |
| 2005-12-31 | $804.72 Million | +20.75% |
| 2004-12-31 | $666.42 Million | +22.59% |
| 2003-12-31 | $543.63 Million | +39.63% |
| 2002-12-31 | $389.33 Million | +15.45% |
| 2001-12-31 | $337.22 Million | -50.94% |
| 2000-12-31 | $687.34 Million | +8.62% |
| 1999-12-31 | $632.80 Million | +6.58% |
| 1998-12-31 | $593.71 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Kingsway Financial Services Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 3430.8% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Other Comprehensive Income | $-718.00K | -4.31% |
| Other Components | $378.83 Million | 2273.50% |
| Total Equity | $16.66 Million | 100.00% |
Kingsway Financial Services Inc Competitors by Market Cap
The table below lists competitors of Kingsway Financial Services Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Sports Gear Co. Ltd
TW:6768
|
$174.21 Million |
|
Van de Velde NV
PINK:VDEVF
|
$174.23 Million |
|
VNV Global AB (publ)
PINK:VSTKF
|
$174.23 Million |
|
Astra Agro Lestari Tbk
JK:AALI
|
$174.24 Million |
|
Quanterix Corp
NASDAQ:QTRX
|
$174.17 Million |
|
Changchun Yidong Clutch Co Ltd
SHG:600148
|
$174.11 Million |
|
RANA GRUBER ASA NK -25
F:7XH
|
$174.10 Million |
|
Escalade Incorporated
NASDAQ:ESCA
|
$174.07 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Kingsway Financial Services Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 27,709,000 to 16,663,000, a change of -11,046,000 (-39.9%).
- Net loss of 9,272,000 reduced equity.
- Dividend payments of 13,000 reduced retained earnings.
- Share repurchases of 2,504,000 reduced equity.
- New share issuances of 8,250,000 increased equity.
- Other comprehensive income increased equity by 822,000.
- Other factors decreased equity by 8,329,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-9.27 Million | -55.64% |
| Dividends Paid | $13.00K | -0.08% |
| Share Repurchases | $2.50 Million | -15.03% |
| Share Issuances | $8.25 Million | +49.51% |
| Other Comprehensive Income | $822.00K | +4.93% |
| Other Changes | $-8.33 Million | -49.98% |
| Total Change | $- | -39.86% |
Book Value vs Market Value Analysis
This analysis compares Kingsway Financial Services Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 17.98x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 3.48x to 17.98x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1995-12-31 | $3.16 | $11.02 | x |
| 1996-12-31 | $7.43 | $11.02 | x |
| 1997-12-31 | $17.52 | $11.02 | x |
| 1998-12-31 | $17.75 | $11.02 | x |
| 1999-12-31 | $18.95 | $11.02 | x |
| 2000-12-31 | $21.24 | $11.02 | x |
| 2001-12-31 | $35.79 | $11.02 | x |
| 2002-12-31 | $31.37 | $11.02 | x |
| 2003-12-31 | $41.08 | $11.02 | x |
| 2004-12-31 | $47.24 | $11.02 | x |
| 2005-12-31 | $56.51 | $11.02 | x |
| 2006-12-31 | $63.42 | $11.02 | x |
| 2007-12-31 | $66.42 | $11.02 | x |
| 2008-12-31 | $32.84 | $11.02 | x |
| 2009-12-31 | $12.56 | $11.02 | x |
| 2010-12-31 | $7.28 | $11.02 | x |
| 2011-12-31 | $9.43 | $11.02 | x |
| 2012-12-31 | $4.95 | $11.02 | x |
| 2013-12-31 | $2.51 | $11.02 | x |
| 2014-12-31 | $2.52 | $11.02 | x |
| 2015-12-31 | $2.45 | $11.02 | x |
| 2016-12-31 | $3.12 | $11.02 | x |
| 2017-12-31 | $2.05 | $11.02 | x |
| 2018-12-31 | $0.57 | $11.02 | x |
| 2019-12-31 | $0.88 | $11.02 | x |
| 2020-12-31 | $0.20 | $11.02 | x |
| 2021-12-31 | $0.03 | $11.02 | x |
| 2022-12-31 | $0.86 | $11.02 | x |
| 2023-12-31 | $1.05 | $11.02 | x |
| 2024-12-31 | $0.61 | $11.02 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Kingsway Financial Services Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -55.64%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -8.24%
- • Asset Turnover: 0.60x
- • Equity Multiplier: 11.20x
- Recent ROE (-55.64%) is below the historical average (-28.42%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1995 | 10.35% | 7.45% | 0.58x | 2.39x | $95.32K |
| 1996 | 12.93% | 9.44% | 0.48x | 2.87x | $1.85 Million |
| 1997 | 10.41% | 11.31% | 0.38x | 2.40x | $614.95K |
| 1998 | 12.40% | 8.80% | 0.35x | 4.05x | $3.90 Million |
| 1999 | 5.62% | 2.81% | 0.45x | 4.43x | $-7.30 Million |
| 2000 | 10.07% | 4.62% | 0.51x | 4.30x | $132.50K |
| 2001 | 8.37% | 4.79% | 0.53x | 3.31x | $-5.50 Million |
| 2002 | 12.98% | 4.37% | 0.61x | 4.87x | $11.59 Million |
| 2003 | 12.10% | 3.39% | 0.69x | 5.15x | $11.40 Million |
| 2004 | 16.35% | 5.38% | 0.58x | 5.28x | $42.33 Million |
| 2005 | 16.78% | 7.02% | 0.51x | 4.72x | $54.54 Million |
| 2006 | 13.69% | 6.43% | 0.47x | 4.49x | $33.21 Million |
| 2007 | -1.97% | -0.91% | 0.44x | 4.95x | $-112.61 Million |
| 2008 | -89.48% | -27.51% | 0.44x | 7.37x | $-451.22 Million |
| 2009 | -171.42% | -64.12% | 0.23x | 11.56x | $-307.22 Million |
| 2010 | -40.34% | -15.42% | 0.48x | 5.48x | $-47.72 Million |
| 2011 | -16.31% | -8.81% | 0.61x | 3.03x | $-32.48 Million |
| 2012 | -80.04% | -32.62% | 0.43x | 5.73x | $-58.59 Million |
| 2013 | -103.91% | -21.41% | 0.53x | 9.15x | $-40.41 Million |
| 2014 | -29.27% | -6.83% | 0.62x | 6.89x | $-17.20 Million |
| 2015 | 2.29% | 0.70% | 0.66x | 4.99x | $-3.73 Million |
| 2016 | 1.29% | 0.45% | 0.35x | 8.02x | $-5.44 Million |
| 2017 | -35.04% | -8.01% | 0.40x | 10.98x | $-19.88 Million |
| 2018 | -241.54% | -57.80% | 0.14x | 30.35x | $-31.35 Million |
| 2019 | -138.77% | -60.96% | 0.12x | 18.65x | $-28.50 Million |
| 2020 | -149.25% | -9.80% | 0.15x | 100.42x | $-7.18 Million |
| 2021 | -44.24% | -0.42% | 0.17x | 615.31x | $-419.30K |
| 2022 | 114.01% | 21.56% | 0.40x | 13.17x | $22.55 Million |
| 2023 | 85.02% | 21.88% | 0.54x | 7.14x | $20.79 Million |
| 2024 | -55.64% | -8.24% | 0.60x | 11.20x | $-10.94 Million |
Industry Comparison
This section compares Kingsway Financial Services Inc's net assets metrics with peer companies in the Auto & Truck Dealerships industry.
Industry Context
- Industry: Auto & Truck Dealerships
- Average net assets among peers: $479,331,244
- Average return on equity (ROE) among peers: 1.24%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Kingsway Financial Services Inc (KFS) | $35.82 Million | 10.35% | 5.56x | $174.17 Million |
| Asbury Automotive Group Inc (ABG) | $473.20 Million | 35.50% | 4.70x | $2.82 Billion |
| ACV Auctions Inc. (ACVA) | $556.10 Million | -14.06% | 0.77x | $1.29 Billion |
| Balincan International Inc (ALTB) | $-44.44K | 0.00% | 0.00x | $549.75 Million |
| AMA Group Limited (AMGRF) | $162.85 Million | 10.57% | 0.80x | $14.62 Million |
| AutoNation Inc (AN) | $2.46 Billion | 28.17% | 4.29x | $6.02 Billion |
| AutoCanada Inc (AOCIF) | $86.39 Million | 10.04% | 2.10x | $138.46 Million |
| AUTO1 Group SE (ATOGF) | $118.48 Million | -80.39% | 2.00x | $2.48 Billion |
| Autozi Internet Technology (Global) Ltd. Class A Ordinary Shares (AZI) | $-28.41 Million | 0.00% | 0.00x | $21.12 Million |
| Boyd Group Services Inc (BYDGF) | $710.60 Million | 6.21% | 1.21x | $3.03 Billion |
| CarGurus (CARG) | $256.86 Million | 16.41% | 0.53x | $2.65 Billion |