Kinsale Capital (KNSL) financial statements
Kinsale Capital reported revenue of $1.9B in fiscal 2025, up 33.2% a year over 9 years.
Net income was $504M and the operating margin 33.8%, against 27.9% in 2016.
Free cash flow was $990M, and the company returned $16M in dividends and $90M in net buybacks.
The diluted share count rose 8% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Kinsale Capital's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $142M | $187M | $222M | $316M | $460M | $653M | $839M | $1.2B | $1.6B | $1.9B |
| Operating income | $40M | $39M | $40M | $76M | $100M | $189M | $196M | $384M | $515M | $634M |
| Interest expense | $1M | — | — | $200,000 | $168,000 | $994,000 | $4M | $10M | $10M | $11M |
| Pre-tax income | $40M | $39M | $40M | $76M | $100M | $189M | $196M | $384M | $515M | $634M |
| Income tax | $13M | $14M | $7M | $13M | $12M | $36M | $36M | $76M | $100M | $131M |
| Net income | $26M | $25M | $34M | $63M | $88M | $153M | $159M | $308M | $415M | $504M |
| EPS (diluted) | — | $1.16 | $1.56 | $2.86 | $3.87 | $6.62 | $6.88 | $13.22 | $17.78 | $21.65 |
| Diluted shares | — | 21M | 22M | 22M | 23M | 23M | 23M | 23M | 23M | 23M |
| Operating margin | 27.9% | 20.6% | 18.2% | 24.1% | 21.8% | 28.9% | 23.3% | 31.4% | 32.4% | 33.8% |
| Net margin | 18.5% | 13.3% | 15.2% | 20.0% | 19.2% | 23.4% | 19.0% | 25.2% | 26.1% | 26.9% |
Balance sheet
Fiscal years, from Kinsale Capital's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $51M | $82M | $75M | $100M | $77M | $121M | $156M | $127M | $113M | $163M |
| Receivables | $17M | $20M | $24M | $34M | $49M | $71M | $106M | $143M | $140M | $125M |
| Property, plant and equipment | — | — | $2M | $23M | $46M | $49M | $53M | $63M | $83M | $89M |
| Total assets | $614M | $668M | $773M | $1.1B | $1.5B | $2.0B | $2.7B | $3.8B | $4.9B | $6.0B |
| Long-term debt | — | — | $0 | $17M | $43M | — | — | — | — | — |
| Total liabilities | $404M | $430M | $509M | $685M | $971M | $1.3B | $2.0B | $2.7B | $3.4B | $4.1B |
| Shareholders' equity | $210M | $238M | $264M | $406M | $576M | $699M | $745M | $1.1B | $1.5B | $2.0B |
| Net debt | -$51M | -$82M | -$75M | -$84M | -$35M | -$121M | -$156M | -$127M | -$113M | -$163M |
Cash flow
Fiscal years, from Kinsale Capital's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $74M | $77M | $104M | $178M | $280M | $407M | $558M | $860M | $976M | $1.0B |
| Capital spending | $565,000 | $179,000 | $1M | $20M | $33M | $6M | $7M | $7M | $24M | $54M |
| Free cash flow | $73M | $77M | $103M | $159M | $247M | $401M | $551M | $853M | $952M | $990M |
| Stock-based compensation | $492,000 | $652,000 | $2M | $3M | $4M | $5M | $7M | $9M | $14M | $18M |
| Dividends paid | $2M | $5M | $6M | $7M | $8M | $10M | $12M | $13M | $14M | $16M |
| Share buybacks (net) | — | — | — | — | — | — | $0 | $0 | -$10M | -$90M |
| Net borrowing | — | — | — | — | $0 | $0 | $125M | $50M | $0 | $0 |
| Free cash flow margin | 51.7% | 41.3% | 46.2% | 50.3% | 53.7% | 61.4% | 65.7% | 69.7% | 60.0% | 52.8% |
| Dividends per share | — | $0.23 | $0.27 | $0.31 | $0.35 | $0.43 | $0.52 | $0.56 | $0.60 | $0.68 |
Questions
What was Kinsale Capital's revenue in 2025?
$1.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does Kinsale Capital generate?
$990M in fiscal 2025 (operating cash flow minus capital spending).
From Kinsale Capital's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.