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Kingsway Financial Services

NYSE:KFS
Snowflake Description

Worrying balance sheet with weak fundamentals.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KFS
NYSE
$42M
Market Cap
  1. Home
  2. US
  3. Insurance
Company description

Kingsway Financial Services Inc., through its subsidiaries, provides property and casualty insurance products in the United States. The last earnings update was 38 days ago. More info.


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KFS Share Price and Events
7 Day Returns
-4.9%
NYSE:KFS
-7%
US Insurance
-2.8%
US Market
1 Year Returns
-30.6%
NYSE:KFS
-26.3%
US Insurance
-15.9%
US Market
KFS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kingsway Financial Services (KFS) -4.9% -5.8% 8.3% -30.6% -66.1% -66.5%
US Insurance -7% -27.7% -34.1% -26.3% -19.6% -4%
US Market -2.8% -18.8% -24% -15.9% 2.8% 13.3%
1 Year Return vs Industry and Market
  • KFS underperformed the Insurance industry which returned -26.3% over the past year.
  • KFS underperformed the Market in United States of America which returned -15.9% over the past year.
Price Volatility
KFS
Industry
5yr Volatility vs Market

KFS Value

 Is Kingsway Financial Services undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Kingsway Financial Services. This is due to cash flow or dividend data being unavailable. The share price is $1.95.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Kingsway Financial Services's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kingsway Financial Services's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:KFS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-1.13
NYSE:KFS Share Price ** NYSE (2020-04-03) in USD $1.95
United States of America Insurance Industry PE Ratio Median Figure of 95 Publicly-Listed Insurance Companies 8.13x
United States of America Market PE Ratio Median Figure of 2,947 Publicly-Listed Companies 12.21x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Kingsway Financial Services.

NYSE:KFS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:KFS Share Price ÷ EPS (both in USD)

= 1.95 ÷ -1.13

-1.72x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kingsway Financial Services is loss making, we can't compare its value to the US Insurance industry average.
  • Kingsway Financial Services is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Kingsway Financial Services's expected growth come at a high price?
Raw Data
NYSE:KFS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -1.72x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Insurance Industry PEG Ratio Median Figure of 67 Publicly-Listed Insurance Companies 0.32x
United States of America Market PEG Ratio Median Figure of 2,010 Publicly-Listed Companies 0.88x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Kingsway Financial Services, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Kingsway Financial Services's assets?
Raw Data
NYSE:KFS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $0.57
NYSE:KFS Share Price * NYSE (2020-04-03) in USD $1.95
United States of America Insurance Industry PB Ratio Median Figure of 122 Publicly-Listed Insurance Companies 0.79x
United States of America Market PB Ratio Median Figure of 5,146 Publicly-Listed Companies 1.2x
NYSE:KFS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:KFS Share Price ÷ Book Value per Share (both in USD)

= 1.95 ÷ 0.57

3.41x

* Primary Listing of Kingsway Financial Services.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kingsway Financial Services is overvalued based on assets compared to the US Insurance industry average.
X
Value checks
We assess Kingsway Financial Services's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. Kingsway Financial Services has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

KFS Future Performance

 How is Kingsway Financial Services expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Kingsway Financial Services has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.6%
Expected Insurance industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kingsway Financial Services expected to grow at an attractive rate?
  • Unable to compare Kingsway Financial Services's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Kingsway Financial Services's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Kingsway Financial Services's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NYSE:KFS Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Insurance Industry Earnings Growth Rate Market Cap Weighted Average 1.6%
United States of America Insurance Industry Revenue Growth Rate Market Cap Weighted Average 1.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.4%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:KFS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 year ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:KFS Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 46 -3 -25
2018-09-30 55 -14 0
2018-06-30 55 -9 1
2018-03-31 196 -13 -18
2017-12-31 48 -10 -2
2017-09-30 -59 -10 -7
2017-06-30 118 -18 -8
2017-03-31 150 -19 -1
2016-12-31 32 -10 3
2016-09-30 162 -33 -4
2016-06-30 155 -30 -6
2016-03-31 153 -37 -14

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Kingsway Financial Services is high growth as no earnings estimate data is available.
  • Unable to determine if Kingsway Financial Services is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:KFS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 year ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Kingsway Financial Services Company Filings, last reported 1 year ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:KFS Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -1.13
2018-09-30 -0.02
2018-06-30 0.03
2018-03-31 -0.82
2017-12-31 -0.08
2017-09-30 -0.34
2017-06-30 -0.38
2017-03-31 -0.07
2016-12-31 0.16
2016-09-30 -0.21
2016-06-30 -0.33
2016-03-31 -0.72

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Kingsway Financial Services will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of KFS’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. Kingsway Financial Services's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Insurance companies here
  3. Kingsway Financial Services's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Kingsway Financial Services's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Kingsway Financial Services has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

KFS Past Performance

  How has Kingsway Financial Services performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Kingsway Financial Services's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Kingsway Financial Services does not make a profit and there is insufficient past data to establish if their 5 year on year earnings growth rate was positive.
  • Unable to compare Kingsway Financial Services's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Kingsway Financial Services's 1-year growth to the US Insurance industry average as it is not currently profitable.
Earnings and Revenue History
Kingsway Financial Services's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Kingsway Financial Services Company Filings, last reported 1 year ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:KFS Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 46.15 -24.65 29.73
2018-09-30 55.08 -0.34 28.28
2018-06-30 55.03 0.68 29.64
2018-03-31 196.28 -17.65 47.93
2017-12-31 47.54 -1.65 27.11
2017-09-30 -58.75 -7.22 9.42
2017-06-30 117.65 -7.99 33.50
2017-03-31 149.96 -1.37 37.82
2016-12-31 32.50 3.22 20.74
2016-09-30 162.02 -4.10 40.34
2016-06-30 154.75 -6.42 40.39
2016-03-31 152.76 -14.15 39.74
2015-12-31 153.97 -11.97 41.76
2015-09-30 152.20 -9.11 40.14
2015-06-30 152.25 -15.71 40.34
2015-03-31 155.82 -12.40 41.29
2014-12-31 158.22 -16.56 41.61
2014-09-30 168.29 -28.11 54.42
2014-06-30 171.34 -25.97 63.24
2014-03-31 170.19 -30.12 72.11
2013-12-31 172.28 -44.09 79.81
2013-09-30 164.29 -46.76 79.70
2013-06-30 160.61 -60.28 77.49

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Kingsway Financial Services has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Kingsway Financial Services has efficiently used its assets last year compared to the US Insurance industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Kingsway Financial Services improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Kingsway Financial Services's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Kingsway Financial Services has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

KFS Health

 How is Kingsway Financial Services's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Kingsway Financial Services's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kingsway Financial Services is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kingsway Financial Services's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Kingsway Financial Services's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Kingsway Financial Services Company Filings, last reported 1 year ago.

NYSE:KFS Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 30.06 253.26 14.77
2018-09-30 38.69 258.22 9.20
2018-06-30 38.89 241.81 24.86
2018-03-31 46.65 243.66 47.35
2017-12-31 55.91 260.67 5.53
2017-09-30 49.47 236.79 30.77
2017-06-30 53.11 236.54 33.93
2017-03-31 61.19 234.72 33.84
2016-12-31 64.26 233.69 32.35
2016-09-30 48.99 229.71 31.38
2016-06-30 48.84 36.30 40.56
2016-03-31 48.56 37.37 41.92
2015-12-31 50.70 39.90 52.10
2015-09-30 51.93 39.87 76.19
2015-06-30 54.88 42.32 86.58
2015-03-31 51.57 54.02 63.97
2014-12-31 48.50 54.28 71.63
2014-09-30 46.32 53.52 87.67
2014-06-30 38.12 50.56 67.92
2014-03-31 44.15 42.76 72.48
2013-12-31 36.92 57.68 99.09
2013-09-30 49.09 63.43 86.62
2013-06-30 40.92 67.23 71.94
  • Kingsway Financial Services's level of debt (842.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (155.4% vs 842.6% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Kingsway Financial Services's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Kingsway Financial Services's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Kingsway Financial Services has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

KFS Dividends

 What is Kingsway Financial Services's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Kingsway Financial Services dividends.
If you bought $2,000 of Kingsway Financial Services shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Kingsway Financial Services's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Kingsway Financial Services's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:KFS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Insurance Industry Average Dividend Yield Market Cap Weighted Average of 79 Stocks 3.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1936 Stocks 3.1%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2.1%
United States of America Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:KFS Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2012-03-28 0.000 0.000
2011-06-14 0.000 0.000
2011-03-31 0.000 0.000
2010-11-12 0.000 0.000
2010-08-13 0.000 0.000
2010-05-14 0.000 0.000
2009-11-06 0.000 0.000
2009-08-07 0.000 0.000
2009-05-08 0.272 2.472

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Kingsway Financial Services has not reported any payouts.
  • Unable to verify if Kingsway Financial Services's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Kingsway Financial Services's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Kingsway Financial Services has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Kingsway Financial Services's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Kingsway Financial Services afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kingsway Financial Services has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

KFS Management

 What is the CEO of Kingsway Financial Services's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
JT Fitzgerald
COMPENSATION $711,440
AGE 48
TENURE AS CEO 1.6 years
CEO Bio

Mr. John Taylor Maloney Fitzgerald, also known as JT, has been the Chief Executive Officer of Kingsway Financial Services Inc since September 5, 2018. He served as a Director at Itasca Capital Ltd. since June 09, 2016 until December 11, 2019. He has been President of Kingsway Financial Services Inc. since March 8, 2017 and was its Chief Operating Officer since March 8, 2017 until September 5, 2018. Mr. Fitzgerald Co-Founded the Argo Management Partners, LLC in 2002 and also serves as its Managing Partner. In this capacity, he has had extensive transactional and operating experience in Argo Management's portfolio companies. He serves as a Managing Member of Argo Holdings Fund I, LLC. He is also a Limited Partner at Cadence Capital Partners. He served as an Executive Vice President at Kingsway Financial Services Inc. since joining on April 21, 2016 until March 8, 2017. He served as Chief Development Officer at HunterMFG., LLP. Mr. Fitzgerald was previously the Chief Executive Officer of Hunter MFG, LLP. Prior to Argo Management Partners LLC, he Co-founded Adirondack Capital, LLC and served as its Managing Director. He has extensive experience in financial markets and transactions. He served as Principal of Argo Management Partners, LLC. He serves as a Director of Oak Patch Gifts LLC and Progressive Bronze Products. He served as the Chairman at HunterMFG., LLP from 2006 to 2016. He has been a Director of Kingsway Financial Services Inc. since April 21, 2016. He has been an Independent Director Atlas Financial Holdings, Inc. since May 2, 2013. He served as an Independent Director of Limbach Holdings, Inc. since July 2014 until July 20, 2016. He was a Member and Full seat owner on the Chicago Board of Trade. He has been invited to speak on multiple occasions at the Kellogg School of Management on the topic of Search Funds and acquiring and operating middle-market businesses. Mr. Fitzgerald holds an M.B.A. degree from the Kellogg School of Management, Northwestern University with concentrations in Finance, Accounting and Management Strategy and a B.S. degree in Finance from DePaul University with highest honor, Beta Gamma Sigma.

CEO Compensation
  • JT's compensation has increased whilst company is loss making.
  • JT's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Kingsway Financial Services management team in years:

1.6
Average Tenure
55.5
Average Age
  • The average tenure for the Kingsway Financial Services management team is less than 2 years, this suggests a new team.
Management Team

JT Fitzgerald

TITLE
President
COMPENSATION
$711K
AGE
48
TENURE
1.6 yrs

Bill Hickey

TITLE
Consultant
COMPENSATION
$436K
AGE
60
TENURE
0.2 yrs

Kent Hansen

TITLE
Chief Financial Officer
TENURE
0.2 yrs

Adam Prior

TITLE
Senior Vice President

Paul Hogan

TITLE
Secretary & General Counsel
AGE
34
TENURE
0.9 yrs

Denis Cloutier

TITLE
Vice President and Chief Actuary of Canadian Operations
TENURE
13.6 yrs

Leonia Rodrigues

TITLE
President of Assigned Risk Solutions Ltd
COMPENSATION
$451K
AGE
51

Doug Raucy

TITLE
CEO of Maison Insurance Company & President of Maison Insurance Company
AGE
62
TENURE
7.4 yrs

Steve Harrison

TITLE
President of Mendota Insurance Company
AGE
67
TENURE
3.7 yrs
Board of Directors Tenure

Average tenure and age of the Kingsway Financial Services board of directors in years:

6.6
Average Tenure
60
Average Age
  • The tenure for the Kingsway Financial Services board of directors is about average.
Board of Directors

Terry Kavanagh

TITLE
Independent Chairman of the Board
COMPENSATION
$117K
AGE
64
TENURE
6.6 yrs

JT Fitzgerald

TITLE
President
COMPENSATION
$711K
AGE
48
TENURE
4 yrs

Joe Stilwell

TITLE
Independent Director
COMPENSATION
$78K
AGE
57
TENURE
11 yrs

Greg Hannon

TITLE
Independent Director
COMPENSATION
$117K
AGE
64
TENURE
10.6 yrs

Doug Levine

TITLE
Independent Director
COMPENSATION
$45K
AGE
60
TENURE
1.9 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Kingsway Financial Services individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
02. Apr 20 Buy John Taylor Fitzgerald Individual 31. Mar 20 31. Mar 20 1,029 $2.02 $2,079
17. Mar 20 Buy John Taylor Fitzgerald Individual 13. Mar 20 13. Mar 20 925 $2.25 $2,081
03. Mar 20 Buy William Hickey Individual 28. Feb 20 28. Feb 20 839 $1.79 $1,502
03. Mar 20 Buy John Taylor Fitzgerald Individual 28. Feb 20 28. Feb 20 1,165 $1.79 $2,085
20. Feb 20 Buy John Taylor Fitzgerald Individual 18. Feb 20 18. Feb 20 1,153 $1.81 $2,087
20. Feb 20 Buy William Hickey Individual 18. Feb 20 18. Feb 20 830 $1.81 $1,502
03. Feb 20 Buy John Taylor Fitzgerald Individual 30. Jan 20 30. Jan 20 1,242 $1.68 $2,087
03. Feb 20 Buy William Hickey Individual 30. Jan 20 30. Jan 20 894 $1.68 $1,502
16. Jan 20 Buy William Hickey Individual 16. Jan 20 16. Jan 20 817 $1.83 $1,495
16. Jan 20 Buy John Taylor Fitzgerald Individual 16. Jan 20 16. Jan 20 1,136 $1.83 $2,079
03. Jan 20 Buy William Hickey Individual 31. Dec 19 31. Dec 19 801 $1.87 $1,501
03. Jan 20 Buy John Taylor Fitzgerald Individual 31. Dec 19 31. Dec 19 1,112 $1.87 $2,084
18. Dec 19 Buy William Hickey Individual 17. Dec 19 17. Dec 19 5,033 $1.79 $8,999
18. Dec 19 Buy John Taylor Fitzgerald Individual 17. Dec 19 17. Dec 19 6,991 $1.79 $12,499
16. Sep 19 Buy John Taylor Fitzgerald Individual 13. Sep 19 13. Sep 19 759 $2.75 $2,084
16. Sep 19 Buy William Hickey Individual 13. Sep 19 13. Sep 19 546 $2.75 $1,499
03. Sep 19 Buy John Taylor Fitzgerald Individual 30. Aug 19 30. Aug 19 725 $2.87 $2,084
03. Sep 19 Buy William Hickey Individual 30. Aug 19 30. Aug 19 522 $2.87 $1,500
16. Aug 19 Buy John Taylor Fitzgerald Individual 15. Aug 19 15. Aug 19 750 $2.78 $2,084
16. Aug 19 Buy William Hickey Individual 15. Aug 19 15. Aug 19 540 $2.78 $1,501
02. Aug 19 Buy John Taylor Fitzgerald Individual 31. Jul 19 31. Jul 19 712 $2.93 $2,083
02. Aug 19 Buy William Hickey Individual 31. Jul 19 31. Jul 19 512 $2.93 $1,498
15. Jul 19 Buy John Taylor Fitzgerald Individual 15. Jul 19 15. Jul 19 796 $2.62 $2,082
15. Jul 19 Buy William Hickey Individual 15. Jul 19 15. Jul 19 574 $2.62 $1,501
01. Jul 19 Buy John Taylor Fitzgerald Individual 28. Jun 19 28. Jun 19 889 $2.34 $2,084
01. Jul 19 Buy William Hickey Individual 28. Jun 19 28. Jun 19 640 $2.34 $1,500
14. Jun 19 Buy John Taylor Fitzgerald Individual 14. Jun 19 14. Jun 19 803 $2.59 $2,083
14. Jun 19 Buy William Hickey Individual 14. Jun 19 14. Jun 19 578 $2.59 $1,500
30. May 19 Buy John Taylor Fitzgerald Individual 30. May 19 30. May 19 863 $2.41 $2,082
30. May 19 Buy William Hickey Individual 30. May 19 30. May 19 622 $2.41 $1,501
15. May 19 Buy John Taylor Fitzgerald Individual 15. May 19 15. May 19 776 $2.69 $2,086
15. May 19 Buy William Hickey Individual 15. May 19 15. May 19 558 $2.69 $1,500
30. Apr 19 Buy John Taylor Fitzgerald Individual 30. Apr 19 30. Apr 19 932 $2.23 $2,080
30. Apr 19 Buy William Hickey Individual 30. Apr 19 30. Apr 19 672 $2.23 $1,500
16. Apr 19 Buy John Taylor Fitzgerald Individual 15. Apr 19 15. Apr 19 830 $2.52 $2,089
16. Apr 19 Buy William Hickey Individual 15. Apr 19 15. Apr 19 596 $2.52 $1,500
X
Management checks
We assess Kingsway Financial Services's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Kingsway Financial Services has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

KFS News

Simply Wall St News

KFS Company Info

Description

Kingsway Financial Services Inc., through its subsidiaries, provides property and casualty insurance products in the United States. The company operates through three segments: Insurance Underwriting, Extended Warranty, and Leased Real Estate. The Insurance Underwriting segment offers various automobile insurance products, including liability insurance that covers claims against its insured’s responsible for automobile accidents; accident benefit policies or personal injury protection policies that provide coverage for loss of income, medical, and rehabilitation expenses for insured persons who are injured in an automobile accident; and physical damage policies, which cover damages to an insured automobile arising from a collision with another object, as well as from other risks, such as fire or theft. The Extended Warranty segment markets and administers vehicle service agreements and related products for new and used automobiles. This segment also markets and distributes warranty products to manufacturers, distributors, and installers of heating, ventilation and air conditioning, standby generator, commercial LED lighting, and refrigeration equipment; and equipment breakdown and maintenance support services to companies. The Leased Real Estate segment owns the Real Property, which is subject to a long-term triple net lease agreement. The company offers its products and services to credit unions, consumers, and businesses through a network of independent agencies. Kingsway Financial Services Inc. was founded in 1989 and is based in Toronto, Canada.

Details
Name: Kingsway Financial Services Inc.
KFS
Exchange: NYSE
Founded: 1989
$42,413,395
21,750,459
Website: http://www.kingsway-financial.com
Address: Kingsway Financial Services Inc.
45 Street Clair Avenue West,
Suite 400,
Toronto,
Ontario, M4V 1K9,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE KFS Common Shares New York Stock Exchange US USD 18. Dec 1995
DB KFSN Common Shares Deutsche Boerse AG DE EUR 18. Dec 1995
Number of employees
Current staff
Staff numbers
123
Kingsway Financial Services employees.
Industry
Property and Casualty Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/05 04:42
End of day share price update: 2020/04/03 00:00
Last earnings filing: 2020/02/27
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.