Latest Ratios: P/E Ratio 16.4x · EV/EBITDA 12.9x · ROE 29.3%. (2014–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.2B | $9.1B | $10.9B | $7.8B | $6.0B | $5.5B | $4.6B | $2.3B | $1.2B | $967M | $717M |
| Enterprise Value | $8.3B | $9.2B | $10.9B | $7.9B | $6.1B | $5.5B | $4.5B | $2.2B | $1.1B | $886M | $666M |
| P/E Ratio → | 16.39 | 18.07 | 26.16 | 25.33 | 38.01 | 35.94 | 51.71 | 35.55 | 35.62 | 38.79 | 27.43 |
| P/S Ratio | 4.38 | 4.85 | 6.84 | 6.37 | 7.21 | 8.40 | 9.94 | 7.12 | 5.42 | 5.18 | 5.06 |
| P/B Ratio | 4.21 | 4.64 | 7.32 | 7.18 | 8.11 | 7.84 | 7.94 | 5.54 | 4.56 | 4.06 | 3.41 |
| P/FCF | 8.30 | 9.19 | 11.40 | 9.15 | 10.98 | 13.68 | 18.51 | 14.18 | 11.73 | 12.53 | 9.79 |
| P/OCF | 7.87 | 8.72 | 11.12 | 9.08 | 10.84 | 13.48 | 16.33 | 12.62 | 11.59 | 12.50 | 9.72 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.89 | 6.88 | 6.42 | 7.26 | 8.34 | 9.87 | 6.86 | 5.09 | 4.74 | 4.70 |
| EV / EBITDA | 12.93 | 14.31 | 20.99 | 20.30 | 30.70 | 28.52 | 44.50 | 28.24 | 27.48 | 22.69 | 16.58 |
| EV / EBIT | 13.05 | 14.20 | 20.81 | 19.94 | 30.46 | 28.72 | 45.13 | 28.49 | 27.91 | 22.99 | 16.84 |
| EV / FCF | — | 9.25 | 11.47 | 9.22 | 11.05 | 13.59 | 18.37 | 13.65 | 11.00 | 11.47 | 9.10 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.5% | 52.5% | 42.9% | 41.7% | 34.2% | 39.2% | 30.9% | 34.9% | 30.5% | 33.1% | 45.6% |
| Operating Margin | 33.8% | 33.8% | 32.4% | 31.4% | 23.3% | 28.9% | 21.8% | 24.1% | 18.2% | 20.6% | 27.9% |
| Net Profit Margin | 26.9% | 26.9% | 26.1% | 25.2% | 19.0% | 23.4% | 19.2% | 20.0% | 15.2% | 13.3% | 18.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 29.3% | 29.3% | 32.3% | 33.6% | 22.0% | 23.9% | 18.0% | 18.9% | 13.5% | 11.1% | 16.2% |
| ROA | 9.5% | 9.5% | 9.6% | 9.5% | 6.7% | 8.5% | 6.7% | 6.8% | 4.7% | 3.9% | 4.5% |
| ROIC | 26.6% | 26.6% | 28.6% | 29.9% | 20.3% | 23.5% | 17.4% | 22.3% | 17.6% | 18.3% | 21.3% |
| ROCE | 14.2% | 14.2% | 11.9% | 21.7% | 8.2% | 39.7% | 7.6% | 8.2% | 5.7% | 6.1% | 7.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.11 | 0.11 | 0.12 | 0.17 | 0.26 | 0.12 | 0.07 | 0.04 | — | — | — |
| Debt / EBITDA | 0.35 | 0.35 | 0.35 | 0.47 | 0.99 | 0.45 | 0.42 | 0.22 | — | — | — |
| Net Debt / Equity | — | 0.03 | 0.05 | 0.05 | 0.05 | -0.05 | -0.06 | -0.21 | -0.28 | -0.34 | -0.24 |
| Net Debt / EBITDA | 0.10 | 0.10 | 0.14 | 0.15 | 0.20 | -0.19 | -0.34 | -1.09 | -1.83 | -2.09 | -1.26 |
| Debt / FCF | — | 0.06 | 0.07 | 0.07 | 0.07 | -0.09 | -0.14 | -0.53 | -0.73 | -1.06 | -0.69 |
| Interest Coverage | 60.58 | 60.58 | 51.79 | 38.28 | 46.65 | 190.94 | 598.70 | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.35 | 0.35 | — | 0.35 | — | 1.33 | — | — | 57.25 | 59.61 | 5.27 |
| Quick Ratio | 0.35 | 0.35 | — | 0.35 | — | 1.33 | — | — | 57.25 | 59.61 | 5.27 |
| Cash Ratio | 0.20 | 0.20 | — | 1.91 | — | 1.15 | — | — | 50.22 | 57.58 | 37.40 |
| Asset Turnover | — | 0.33 | 0.32 | 0.32 | 0.31 | 0.32 | 0.30 | 0.29 | 0.29 | 0.28 | 0.23 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.2% | 0.2% | 0.1% | 0.2% | 0.2% | 0.2% | 0.2% | 0.3% | 0.5% | 0.5% | 0.3% |
| Payout Ratio | 3.1% | 3.1% | 3.4% | 4.2% | 7.5% | 6.6% | 9.1% | 10.9% | 17.5% | 20.2% | 8.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.1% | 5.5% | 3.8% | 3.9% | 2.6% | 2.8% | 1.9% | 2.8% | 2.8% | 2.6% | 3.6% |
| FCF Yield | 12.1% | 10.9% | 8.8% | 10.9% | 9.1% | 7.3% | 5.4% | 7.1% | 8.5% | 8.0% | 10.2% |
| Buyback Yield | 1.1% | 1.0% | 0.2% | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.3% | 1.2% | 0.3% | 0.2% | 0.3% | 0.2% | 0.2% | 0.3% | 0.5% | 0.5% | 0.3% |
| Shares Outstanding | — | $23M | $23M | $23M | $23M | $23M | $23M | $22M | $22M | $21M | $21M |
Social inflation reserve volatility
As reported in recent financial statements, KNSL trades at a P/B multiple of 3.90, which significantly exceeds the valuation of peers like Arch Capital, suggesting that investors are pricing in a sustained competitive advantage derived from the company's proprietary, tech-enabled underwriting platform and high growth trajectory.
The elevated P/B ratio indicates that the market expects KNSL to maintain superior ROE levels compared to the broader specialty insurance sector. This premium valuation warrants close monitoring, as any deceleration in underwriting profitability or a shift in the E&S market cycle could lead to a rapid compression of these multiples.
Based on quarterly data, the combined ratio has remained consistently favorable, with a 63.8% reading in 2025Q4, demonstrating that the company's automated underwriting model effectively manages loss costs while maintaining a lean expense structure even as the business scales across complex specialty lines.
The ability to keep the combined ratio well below the 100% threshold suggests that KNSL is successfully selecting risks that are priced appropriately for their underlying volatility. However, the fluctuation in loss ratios, which reached 63.5% in 2025Q1, implies that the company is not immune to the broader industry challenges of loss cost inflation.
According to historical ratio analysis, KNSL's expense ratio has remained remarkably low, hovering near 10% in recent periods, which highlights the structural efficiency of its proprietary technology stack compared to traditional specialty insurers that rely on more labor-intensive, legacy administrative processes for policy issuance.
This efficiency advantage provides KNSL with significant pricing flexibility, allowing it to remain profitable in niche segments where larger competitors might struggle with higher overhead. Investors should monitor whether this expense advantage persists as the company expands into more complex property lines that may require increased human underwriting oversight.
As noted in industry research, the P/E ratio is frequently misapplied to KNSL, as it fails to account for the inherent volatility of reserve development and the subjective nature of IBNR estimates that can artificially inflate or deflate reported net income in any given quarter.
Relying on P/E ignores the fact that an insurer's true value is tied to its book value and the quality of its underwriting float. Analysts should instead prioritize the combined ratio and P/B valuation to better assess the underlying health of the insurance franchise and its long-term capital compounding potential.
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying KNSL stock.
Kinsale Capital Group, Inc.'s current P/E ratio is 16.4x. The historical average is 33.3x.
Kinsale Capital Group, Inc.'s current EV/EBITDA is 12.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 25.4x.
Kinsale Capital Group, Inc.'s return on equity (ROE) is 29.3%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 21.2%.
Based on historical data, Kinsale Capital Group, Inc. is trading at a P/E of 16.4x. Compare with industry peers and growth rates for a complete picture.
Kinsale Capital Group, Inc.'s current dividend yield is 0.19% with a payout ratio of 3.1%.
Kinsale Capital Group, Inc. has 52.5% gross margin and 33.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Kinsale Capital Group, Inc.'s Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.