Fundamentals snapshot
KINS · NCM · Financial Services · Insurance - Property & Casualty
Current price
$20.17
52-week range
$13.83 - $20.90
Market cap
$291.98M
One-glance verdict
We don't put a cash-flow fair value on banks and insurers. For these companies the reported 'cash flow' is really just money moving between loans, deposits and trades — not the leftover profit the owners could actually pocket — so the usual method would print a misleading number.
Balance sheet
Net cash $13.02M. Interest coverage shows how many times profit covers the interest bill.
What stands out
What this company does
Kingstone Companies, Inc. sells property and casualty insurance, mostly for homes and cars, across the United States. Their main source of money comes from the premiums people and businesses pay for these insurance policies, which is important because it shows how much demand there is for their services.
Kingstone Companies, Inc. has a long history, dating back to 1886. It started as DCAP Group, Inc. and changed its name in 2009. The company's journey has involved adapting to market changes and strategic shifts, including past expansions and a recent refocusing on core markets. This evolution has shaped its current position in the property and casualty insurance sector.
Kingstone Companies, Inc., through its subsidiary Kingstone Insurance Company, provides property and casualty insurance. This type of insurance protects individuals and businesses against financial losses from damage to property or liability for injuries caused to others. They offer policies for homes, renters, and commercial vehicles, acting as a safety net for unexpected events.
This is the largest part of Kingstone's business, making up about 93% of its operations. They offer policies like homeowners insurance, which covers damage to a house and its contents, and renters insurance, which protects a renter's belongings. They also provide personal umbrella policies, which offer extra liability coverage above the limits of other policies. These products are particularly focused on coastal properties in the Northeast, a niche market where they have developed expertise.
Kingstone also provides insurance for commercial vehicles. This includes physical damage coverage for vehicles used for hire, such as taxis and livery services. This segment helps protect businesses that rely on vehicles for their operations from the costs associated with accidents or damage.
Kingstone's current strategy involves a geographic diversification, expanding into new markets like California, which is a significant move beyond its traditional Northeast focus. This expansion is part of a larger growth plan aiming to increase the total amount of insurance premiums they write. Management is also focused on refining their underwriting and pricing strategies to better match risk with rates, especially in challenging market conditions.
Price history
Earnings history
Click any quarter to read the call summary and what the numbers say.
Is it cheap or expensive?
For a bank or insurer, the "free cash flow" shown on its statements is mostly money flowing through loans, deposits and trades — not the leftover profit the owners could actually keep, which is what this kind of valuation needs. Running that through the usual method would spit out a meaningless number, so we leave the cash-flow fair value out here rather than show you something misleading.
Is it drowning in debt?
Net cash $13.0M - more cash than debt. Interest coverage 115.7x.
Kingstone Companies, Inc.'s profit covers its interest bill about 115.7 times over. which is stronger than every peer shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Total debt $3.90M Interest coverage 115.65x This is the baseline the peer rows are being compared against.
Total debt $152.57M Interest coverage 14.20x -88% vs KINS Carries about 8.1x less debt cushion than KINS.
Total debt $51.10M Interest coverage -0.85x -100% vs KINS This peer has almost no interest-payment cushion compared with KINS.
Total debt $35.00M Interest coverage 73.26x -37% vs KINS Carries about 1.6x less debt cushion than KINS.
What you should know
The numbers
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Valuation
Profitability
Health
Growth
Cash flow
Dividend
Metric explainer
Debt comparison
What you should know