Kingsway Financial Services Inc.

KFS

KFSKingsway Financial Services Inc. US flag

New York Stock Exchange

10.23

USD

-0.01

- -

292.84MMarket Cap

Income Statement (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Sales/Revenue/Turnover	203	160	172	158	159	177	46	54	63	64	81	115	108	113	137
+ Sales & Services Revenue	203	160	172	158	159	177	46	54	63	64	81	115	108	113	137
- Cost of Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cost of Goods & Services	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Profit	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Selling, General & Admin	78	74	80	42	42	42	27	30	36	42	45	44	42	45	61
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	-78	-74	-80	-42	-42	-42	-27	-30	-36	-42	-45	-44	-42	-45	-61
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Non-Operating (Income) Loss	26	50	43	16	11	10	13	22	3	7	7	-35	-24	8	14
+ Interest Expense, Net	7	- -	- -	6	5	7	13	14	15	14	6	8	6	5	5
+ Interest Expense	7	- -	- -	6	5	7	13	14	15	14	6	8	6	5	5
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	19	50	43	10	6	3	- -	8	-12	-7	- -	-43	-30	3	9
Pretax Income	-26	-50	-43	-16	-11	-10	-13	-22	-3	-7	-7	35	24	-8	-14
- Income Tax Expense (Benefit)	- -	3	- -	-1	- -	-10	-17	- -	- -	-1	-4	5	-2	- -	-4
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-26	-53	-43	-15	-11	-1	4	-22	-3	-5	-3	30	26	-8	-10
- Net Extraordinary Losses (Gains)	-13	-2	-6	- -	-12	-2	24	10	5	3	- -	-4	2	2	1
+ Discontinued Operations	-1	- -	- -	3	13	1	-15	-6	-2	- -	5	-15	-2	- -	- -
+ Extraord. & Accounting Changes	-12	-2	-6	-4	-25	-3	39	16	6	3	-5	11	4	2	1
Income (Loss) Incl. MI	-13	-51	-38	-14	1	1	-20	-32	-7	-8	-3	34	23	-10	-11
- Minority Interest	7	1	-1	-2	- -	- -	-4	-2	-2	-1	-2	10	- -	-1	- -
Net Income, GAAP	-20	-52	-37	-13	1	1	-16	-30	-6	-7	- -	25	24	-9	-11
- Preferred Dividends	- -	- -	- -	- -	- -	1	1	1	1	1	- -	- -	- -	- -	1
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-20	-52	-37	-13	1	- -	-17	-31	-7	-8	-1	24	23	-9	-12
EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITA	-2	-3	-4	-2	-2	-3	-5	-7	-7	-7	-5	-6	-6	-7	-9
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Profit Margin (%)	-9.94	-32.62	-21.41	-8.13	0.7	0.45	-33.77	-55.76	-9.31	-10.45	-0.42	21.56	21.88	-8.24	-7.85
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.04
Depreciation Expense	2	3	4	2	2	3	5	7	7	7	5	6	6	7	9
Basic Weighted Avg Shares	13	13	14	17	20	20	22	22	22	22	23	23	26	27	28
Basic EPS, GAAP	-1.54	-3.96	-2.61	-0.75	0.04	0.01	-0.79	-1.41	-0.32	-0.35	-0.04	1.06	0.91	-0.35	-0.43
Basic EPS from Cont Ops	-1.99	-4.05	-3.07	-0.84	-0.58	-0.04	0.19	-1.02	-0.13	-0.24	-0.12	1.31	0.99	-0.3	-0.37
Diluted Weighted Avg Shares	13	13	14	17	20	20	22	22	22	22	23	25	26	27	28
Diluted EPS, GAAP	-1.54	-3.96	-2.61	-0.75	0.04	0.01	-0.79	-1.41	-0.32	-0.35	-0.04	0.96	0.89	-0.35	-0.43
Diluted EPS from Cont Ops	-1.99	-4.05	-3.07	-0.84	-0.58	-0.04	0.19	-1.02	-0.13	-0.24	-0.12	1.19	0.97	-0.3	-0.37

Balance Sheet (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Current Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash, Cash Equivalents & STI	199	161	153	128	108	99	20	27	36	35	46	102	15	43	16
+ Cash & Cash Equivalents	85	81	99	71	52	36	5	15	13	14	10	64	9	5	8
+ ST Investments	114	80	55	57	56	62	15	12	22	21	36	38	6	37	7
+ Accounts & Notes Receiv	57	64	65	39	33	36	12	13	17	20	11	14	12	10	14
+ Accounts Receivable, Net	42	59	61	34	29	33	4	3	3	5	7	10	10	9	14
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	14	5	4	5	4	3	7	10	14	15	4	4	2	1	- -
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	-256	-225	-219	-167	-141	-135	-32	-40	-53	-55	-57	-116	-27	-53	-30
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Property, Plant & Equip, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Property, Plant & Equip	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Accumulated Depreciation	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments & Receivables	166	128	66	86	105	122	71	48	60	59	58	57	42	41	42
+ LT Investments	166	128	66	86	105	122	71	48	60	59	58	57	42	41	42
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	-166	-128	-66	-86	-105	-122	-71	-48	-60	-59	-58	-57	-42	-41	-42
+ Total Intangible Assets	40	59	60	26	25	160	160	158	169	205	80	79	86	97	121
+ Goodwill	1	8	11	10	10	71	81	75	82	121	49	45	50	57	69
+ Other Intangible Assets	39	51	49	16	15	89	79	83	86	84	31	33	36	40	52
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	-205	-187	-126	-112	-130	-282	-231	-206	-228	-264	-138	-135	-128	-138	-163
Total Assets	374	373	325	302	241	501	507	378	400	452	476	286	198	187	231
+ Payables & Accruals	2	8	4	1	- -	2	3	2	3	3	- -	1	- -	- -	- -
+ Accounts Payable	2	5	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accrued Taxes	- -	3	3	- -	- -	2	3	2	3	3	- -	1	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Borrowings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	-2	-8	-4	-1	- -	-2	-3	-2	-3	-3	- -	-1	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	-2	-8	-4	-1	- -	-2	-3	-2	-3	-3	- -	-1	- -	- -	- -
Total Current Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Debt	47	48	43	41	40	234	261	253	262	272	97	103	46	60	78
+ LT Borrowings	47	48	43	41	40	234	261	253	259	268	94	102	44	58	71
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	4	3	2	1	1	3	7
+ Other LT Liabilities	-47	-48	-43	-41	-40	-234	-261	-253	-262	-272	-97	-103	-46	-60	-78
+ Accrued Liabilities	14	52	53	38	37	85	70	76	85	116	118	87	89	87	90
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	-61	-100	-96	-79	-77	-318	-331	-329	-347	-387	-214	-190	-135	-148	-168
Total Noncurrent Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Liabilities	258	307	288	254	191	438	451	348	379	434	461	264	173	168	197
+ Preferred Equity and Hybrid Capital	- -	- -	- -	6	6	6	5	6	7	7	6	6	- -	8	16
+ Share Capital & APIC	312	312	325	341	342	354	356	354	354	355	359	360	380	377	395
+ Common Stock	296	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	15	312	325	341	342	354	356	354	354	355	359	360	380	377	395
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	4	6	7
+ Retained Earnings	-201	-262	-299	-312	-297	-298	-311	-382	-388	-395	-395	-370	-347	-361	-373
+ Other Equity	13	15	10	9	-2	- -	-4	41	35	38	31	27	-2	-1	- -
Equity Before Minority Interest	123	65	35	44	48	62	47	18	8	5	1	22	28	17	31
+ Minority/Non Controlling Interest	-7	- -	1	4	2	1	9	12	13	14	14	- -	-3	2	3
Total Equity	116	65	37	48	50	63	56	30	21	19	15	22	25	18	34
Total Liabilities & Equity	374	373	325	302	241	501	507	378	400	452	476	286	198	187	231
Shares Outstanding	13	13	16	20	20	21	22	22	22	22	23	23	27	27	29
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	4	3	2	1	1	3	7
Net Debt	-38	-33	-56	-31	-12	197	255	239	245	254	84	38	35	52	62
Net Debt to Equity	-32.9	-50.92	-151.03	-63.44	-23.56	311.75	456.64	793.92	1,179.66	1,360.52	569.45	171.44	143.5	284.36	181.35
Tangible Common Equity Ratio	22.96	2.04	-8.52	5.73	8.74	-30.28	-31.63	-60.67	-66.89	-78.11	-18.16	-30.18	-54.99	-96.09	-93.76
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Cash Flow Statement (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
+ Net Income	-27	-53	-36	-11	1	1	-12	-28	-4	-5	2	15	24	-8	-10
+ Depreciation & Amortization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Non-Cash Items	-17	20	-6	10	-9	-16	11	26	4	1	4	-18	-51	10	10
+ Stock-Based Compensation	- -	- -	- -	1	1	1	1	-2	1	1	4	4	2	2	2
+ Deferred Income Taxes	3	1	- -	- -	- -	-10	-17	- -	-1	-1	2	1	-2	-1	-4
+ Asset Impairment Charge	3	3	4	1	- -	- -	1	- -	- -	- -	- -	- -	- -	3	1
+ Other Non-Cash Adj	-23	15	-11	7	-10	-7	27	27	3	- -	-2	-23	-51	6	12
+ Chg in Non-Cash Work Cap	-31	-13	- -	-15	-25	- -	-9	- -	- -	7	1	- -	- -	-1	- -
+ (Inc) Dec in Accts Receiv	32	-9	-1	8	3	-4	-5	-1	-4	1	-1	- -	4	1	1
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	7	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	1	3	-4	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Other	-64	-7	5	-30	-28	4	-5	1	4	5	2	- -	-4	-3	-1
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	-4	-7	- -	- -	-12	-12	1	- -	- -
Cash from Operating Activities	-76	-47	-42	-16	-33	-16	-14	-10	-1	2	-6	-15	-26	1	- -
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	5	- -	- -	5	1	- -	- -	- -	26	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	5	- -	- -	5	1	- -	- -	- -	26	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-1	- -	-1	- -	- -	-1	- -	- -	- -	- -	-1	- -	- -	-1	-2
+ Acq of Fixed Prod Assets	-1	- -	-1	- -	- -	-1	- -	- -	- -	- -	-1	- -	- -	-1	-2
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	- -	12	- -	- -	10	- -	- -	- -	- -	- -	- -	-3	-3	15
+ Increase in Capital Stock	- -	- -	12	- -	- -	10	- -	- -	- -	- -	- -	- -	- -	- -	16
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-3	-3	- -
+ Net Change in LT Investment	30	30	51	-16	-8	-6	7	8	-3	5	-16	-4	5	- -	1
+ Dec in LT Investment	162	81	71	36	28	34	8	14	15	18	6	10	12	8	11
+ Inc in LT Investment	-131	-52	-19	-52	-37	-40	-1	-6	-18	-13	-22	-14	-6	-8	-10
+ Net Cash From Acq & Div	- -	16	10	-5	-9	4	-16	3	-3	-1	7	24	1	-18	-29
+ Cash from Divestitures	- -	19	14	- -	1	8	- -	5	2	2	20	38	15	2	- -
+ Cash for Acq of Subs	- -	-2	-4	-5	-10	-4	-16	-2	-5	-3	-13	-14	-14	-20	-29
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	44	-7	24	8	- -	- -	- -	55	- -	1	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	45	1	24	8	- -	- -	- -	43	- -	1	- -
Cash from Investing Activities	29	46	60	-17	26	-9	20	20	-6	4	-9	101	6	-17	-30
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-1
+ Net Cash From Debt	-8	-4	-13	-14	- -	-1	2	-4	1	14	-8	1	-44	13	11
+ Cash From Debt	2	- -	- -	- -	- -	- -	5	- -	9	28	6	13	6	35	26
+ Repayments of Debt	-11	-4	-13	-14	- -	-1	-3	-4	-8	-14	-14	-12	-49	-22	-15
+ Other Financing Activities	- -	- -	- -	21	-13	- -	- -	- -	- -	- -	8	-39	7	1	7
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-8	-4	- -	7	-13	9	2	-4	1	14	-1	-38	-40	11	33
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-55	-5	18	-26	-20	-15	8	6	-6	19	-15	48	-60	-4	3
EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow	-77	-47	-43	-16	-33	-16	-14	-10	-1	1	-7	-15	-26	- -	-2
Net Cash Paid for Acquisitions	- -	-16	-10	5	9	-4	16	-3	3	1	-7	-24	-1	18	29
Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-8	- -	- -	- -
Free Cash Flow to Equity	-86	-51	-55	-20	-33	-18	-10	-14	- -	14	-15	12	-76	21	16
Free Cash Flow per Basic Share	-5.92	-3.56	-3.04	-0.94	-1.67	-0.81	-0.67	-0.47	-0.04	0.07	-0.3	-0.63	-1.03	0.01	-0.06
Price/Free Cash Flow	-0.36	-1.08	-1.35	-5.91	-2.76	-8.37	-7.55	-6.15	-74.33	55.29	-24.32	-13.77	-8.55	128.15	232.04
Cash Flow to Net Income	3.78	0.9	1.13	1.27	-29.63	-19.41	0.92	0.34	0.13	-0.25	17.27	-0.59	-1.11	-0.12	- -
Capital Expenditures	-1	- -	-1	- -	- -	-1	- -	- -	- -	- -	-1	- -	- -	-1	-2