Kingstone Companies (KINS) AI Stock Analysis

• Market Cap: $223.81M
• Dividend Yield: 0.57%
• Average Volume (3M): 118.42K
• Price to Earnings (P/E): 5.7
• Beta (1Y): 0.66
• Revenue Growth: 39.32%
• EPS Growth: 61.45%
• Country: US
• Employees: 99
• Sector: Financial
• Sector Strength: 70
• Industry: Insurance - Property & Casualty
• EPS (TTM): 1.08
• Shares Outstanding: 14,476,825
• 10 Day Avg. Volume: 110,653
• 30 Day Avg. Volume: 118,420
• PEG Ratio: 0.07
• Price to Book (P/B): <0.01
• Price to Sales (P/S): 1.18
• P/FCF Ratio: <0.01
• Enterprise Value/Market Cap: -33.60
• Enterprise Value/Revenue: -37.75
• Enterprise Value/Gross Profit: -65.43
• Enterprise Value/Ebitda: -140.89
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 2.15
• Revenue Forecast (FY): $319.70M

• Rating: 67 Neutral
• Price Target: $17.00 ▲(11.48% Upside)
• Action: Reiterated Date: 03/17/26
• Date: Action: Reiterated 03/17/26

The score is driven primarily by improving (but still uneven) financial performance and very attractive valuation (low P/E). These positives are tempered by only neutral-to-weak technical momentum and earnings-call guidance that bakes in higher catastrophe losses, limiting near-term headline earnings upside.

Positive Factors

Underwriting and margin improvement

Sustained improvement in underlying loss and combined ratios reflects better risk selection, claims handling and product mix (Select book). These structural underwriting gains support margin durability, reduce frequency of attritional losses, and form a repeatable profit engine over multiple underwriting cycles.

Low leverage and capital strength

Very low leverage and materially stronger equity provide durable financial flexibility for underwriting, reinsurance buy-downs, and measured geographic expansion. A stronger capital base lowers insolvency risk, supports dividend payments and quota-share reductions, and underpins multi-year growth plans.

Strong cash generation & investment income

Consistent cash conversion and a growing, higher-yielding investment portfolio create a durable funding source for underwriting float, dividend payouts, and capital deployment. Reliable cashflow coverage of earnings reduces refinancing needs and supports sustained operating improvements over time.

Negative Factors

Large 2025 revenue contraction

A pronounced one-year revenue drop raises durable concerns about premium recognition quality, channel stability or one-off adjustments. Even with margin improvement, a weakened top line can limit scalability, slow reserve build patterns and complicate achieving management's multi-year premium targets.

Elevated catastrophe exposure

Management's higher cat assumption materially widens earnings volatility and compresses headline combined ratios and EPS. Property insurers are inherently weather-sensitive; persistent or larger-than-anticipated catastrophe loads can erode capital, drive higher reinsurance costs, and reduce return consistency over several years.

California expansion execution risk

Entering California E&S exposes the company to complex wildfire modeling, regulatory scrutiny and unfamiliar loss patterns. Management's cautious start limits near-term upside, but execution missteps, model error or regulatory constraints could impair profitability and slow the anticipated diversification benefits over multiple years.

Kingstone Companies Business Overview & Revenue Model

Company Description

Kingstone Companies, Inc., through its subsidiary, Kingstone Insurance Company, underwrites property and casualty insurance products to individuals in New York. The company offers personal line of insurance products, including homeowners and dwelling fire multi-peril, cooperative/condominiums, renters, and personal umbrella policies. It also provides for-hire vehicle physical damage only policies for livery and car service vehicles and taxicabs; and canine legal liability policies, as well as reinsurance products. It sells its products through retail and wholesale agents and brokers. The company was formerly known as DCAP Group, Inc. and changed its name to Kingstone Companies, Inc. in July 2009. Kingstone Companies, Inc. was founded in 1886 and is headquartered in Kingston, New York.

How the Company Makes Money

Kingstone makes money primarily through its insurance operations. The core revenue stream is net earned premiums: policyholders pay premiums for property insurance coverage, and the company recognizes those premiums as revenue over the policy term, net of reinsurance and any premium-related adjustments. A second major earnings driver is underwriting results—the difference between premiums earned and the costs to service and settle policies (claims and loss adjustment expenses), plus operating expenses (e.g., acquisition costs such as commissions, underwriting and policy administration). Because property insurance can produce volatile catastrophe losses, the company uses reinsurance; reinsurance can reduce net exposure and net losses but also reduces net premium retained and adds ceded premium cost. In addition to underwriting income (or loss), Kingstone generates investment income and investment gains/losses from investing its insurance float (premiums collected before claims are paid) in an investment portfolio; the yield and market performance of that portfolio can materially affect overall profitability. Specific material partnerships, distribution channel mix, or named counterparties are not available from the provided context and are therefore null.

Kingstone Companies Financial Statement Overview

Summary

Financials show a clear turnaround to strong profitability and solid cash conversion in 2024–2025, plus improved leverage (very low debt-to-equity in 2025). Offsetting that, results have been historically volatile and the reported 2025 revenue contraction is a material durability risk despite better margins.

Income Statement

Profitability has improved meaningfully versus the 2021–2023 loss years, with 2024 and 2025 showing solid earnings and materially stronger margins (2025 net margin ~20% vs. 2024 ~12%). That said, the 2025 annual report shows a very large revenue decline (about -68% year over year), which raises questions about the durability and quality of the growth trajectory despite the margin expansion.

Balance Sheet

Leverage looks manageable in the latest year, with low debt relative to equity in 2025 (debt-to-equity ~0.04) and improved balance-sheet positioning versus 2022–2023 when leverage was much higher (~0.70+). However, returns to shareholders are inconsistent across the period (negative in 2021–2023 and extremely low in 2025), suggesting earnings power and capital efficiency have been volatile.

Cash Flow

Cash generation is strong relative to reported earnings in the profitable years: free cash flow closely tracks net income in 2024–2025 (near 1:1), and cash flow coverage of earnings is robust. The main weakness is historical volatility—cash flow was negative in 2020 and 2022–2023—indicating the business has not produced consistently stable cash generation across the full period.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	199.19M	155.14M	144.19M	130.16M	161.23M
Gross Profit	114.93M	58.58M	27.98M	7.19M	26.14M
EBITDA	51.49M	29.25M	-389.56K	-22.62M	-4.29M
Net Income	40.77M	18.36M	-6.17M	-22.52M	-7.38M
Balance Sheet
Total Assets	453.43B	374.92M	317.63M	320.33M	331.31M
Cash, Cash Equivalents and Short-Term Investments	301.22B	28.67M	157.90M	166.67M	182.37M
Total Debt	4.44B	11.17M	25.24M	25.16M	29.82M
Total Liabilities	330.69B	308.21M	283.13M	284.16M	255.64M
Stockholders Equity	122.73B	66.71M	34.50M	36.17M	75.67M
Cash Flow
Free Cash Flow	75.86B	55.61M	-13.15M	-5.47M	19.85M
Operating Cash Flow	75.86B	57.95M	-11.33M	-915.52K	24.35M
Investing Cash Flow	-92.86B	-35.26M	9.46M	-5.91M	-15.95M
Financing Cash Flow	506.07M	-2.99M	-1.12M	-5.51M	-3.57M

Kingstone Companies Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 15.25
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KINS, the sentiment is Negative. The current price of 15.25 is below the 20-day moving average (MA) of 15.88, below the 50-day MA of 15.92, and above the 200-day MA of 15.15, indicating a neutral trend. The MACD of -0.18 indicates Positive momentum. The RSI at 44.80 is Neutral, neither overbought nor oversold. The STOCH value of 39.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KINS.

Kingstone Companies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ACIC	70 Outperform	$555.65M	5.73	35.67%	―	16.34%	-1.26%
DGICA	69 Neutral	$631.13M	7.74	12.91%	3.51%	0.93%	224.95%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
KINS	67 Neutral	$223.81M	5.75	0.13%	0.57%	39.32%	61.45%
GBLI	67 Neutral	$411.44M	15.90	0.01%	5.01%	-0.04%	-33.45%
NODK	48 Neutral	$270.07M	-26.81	1.07%	―	-17.81%	38.09%

Kingstone Companies Corporate Events

Kingstone Posts Record 2025 Results, Raises 2026 Outlook

Kingstone reported record financial results for the fourth quarter and full year 2025 on March 5, 2026, posting its strongest quarterly and annual performance in company history, including a Q4 net combined ratio of 64.2%, diluted EPS of $1.03, annualized ROE of 51.3%, and full-year net income of $40.8 million, up 122% year on year. Net premiums earned grew 46% for 2025 and direct premiums written rose 14.8%, aided by improved underwriting through its Select book, a lower expense ratio, and higher investment income, while management updated 2026 guidance to reflect planned double‑digit premium growth, a higher assumed catastrophe load, continued profitability, and a multi‑year growth plan targeting $500 million in direct premiums written by 2029 and entry into California in the second quarter of 2026.

Chief executive Meryl Golden highlighted that 2025 marked Kingstone’s ninth consecutive profitable quarter and a roughly 30‑point improvement in its combined ratio since 2023, describing the gains as structural rather than weather‑driven and emphasizing the company’s scalable infrastructure and capital discipline. For 2026, Kingstone projects direct premiums written growth of 16% to 20%, an underlying combined ratio of 74% to 76%, and a return on equity between 24% and 30%, with guidance explicitly incorporating higher expected catastrophe losses and underscoring sensitivity of earnings to cat activity.

The most recent analyst rating on (KINS) stock is a Hold with a $16.50 price target. To see the full list of analyst forecasts on Kingstone Companies stock, see the KINS Stock Forecast page.

Kingstone Reports Record Profitability and Strong Premium Growth

On February 4, 2026, Kingstone reported estimated fourth-quarter and full-year 2025 results showing record profitability, highlighted by Q4 direct premiums written of $83 million, a combined ratio between 64% and 66%, operating EPS of $1.03 to $1.08, and return on equity near 50%, while full-year premiums rose 15% to $278 million with operating EPS approaching $2.79 and ROE surpassing 40%. Management credited improved risk selection, low catastrophe losses, and faster claims resolution for the performance and said the Select product now accounts for 57% of policies, positioning the carrier to sustain profitable growth in New York and pursue targeted market extensions toward a $500 million premium goal by 2029, with more details promised on a March 6 earnings call.

The most recent analyst rating on (KINS) stock is a Hold with a $16.50 price target. To see the full list of analyst forecasts on Kingstone Companies stock, see the KINS Stock Forecast page.

Kingstone Companies Declares Quarterly Cash Dividend to Shareholders

On January 30, 2026, Kingstone Companies, Inc. announced that its Board of Directors had declared a quarterly cash dividend of $0.05 per share of common stock, reflecting the company’s ongoing practice of returning capital to shareholders. The dividend was scheduled to be paid on February 26, 2026, to stockholders of record as of the close of business on February 11, 2026, signaling continued confidence in Kingstone’s financial position and providing income stability for its investor base.

The most recent analyst rating on (KINS) stock is a Buy with a $17.50 price target. To see the full list of analyst forecasts on Kingstone Companies stock, see the KINS Stock Forecast page.