Kingsway (KWY) Balance Sheet: Assets & Liabilities

Kingsway (KWY) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Kingsway reported total assets of $231.50M and total liabilities of $197.09M. Shareholders' equity was $31.42M, up 88.6% from $16.66M a year earlier. Total debt stood at $70.71M against $15.63M in cash and short-term investments, a net debt position of $55.08M. That puts debt-to-equity at 2.25, compared with 3.61 a year earlier.

Kingsway Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Kingsway Corporation (KWY) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	8.31	5.49	9.10	64.17	10.08	14.37	13.48	31.91	44.29
Short-Term Investments	7.33	8.14	0.16	0.16	0.16	20.87	0.16	0.15	0.15
Cash & Short-Term Investments	15.63	13.63	9.26	64.33	12.80	35.25	13.63	32.07	44.44
Accounts Receivable	13.84	10.94	10.08	10.30	10.69	20.25	17.41	12.96	27.86
Inventory	0.00	0.00	0.00	88.88	39.20	0.00	43.79	27.45	21.27
Other Current Assets	7.97	-24.57	23.43	26.32	-29.33	-55.50	-43.79	0.00	0.00
Total Current Assets	37.54	0.00	44.42	105.87	33.35	0.00	31.05	27.73	72.29
Non-Current Assets
Property, Plant & Equipment (Net)	13.37	3.96	2.74	1.68	110.84	97.98	102.39	103.14	108.23
Long-Term Investments	4.70	41.34	41.72	56.78	0.00	58.61	59.73	37.56	103.08
Goodwill	69.13	56.52	50.36	45.50	110.25	121.13	82.10	73.93	80.11
Intangible Assets	52.27	40.05	35.67	33.10	108.23	84.13	86.42	83.82	87.62
Other Non-Current Assets	24.88	-141.87	22.82	42.73	28.97	-361.85	-29.02	-17.81	-103.08
Total Non-Current Assets	193.96	0.00	0.00	80.28	386.83	0.00	330.64	309.18	306.29
Total Assets	231.50	186.62	197.72	285.65	475.63	452.47	399.62	357.34	484.60
Current Liabilities
Accounts Payable	0.03	0.00	0.00	0.95	0.00	0.00	0.00	0.00	0.00
Short-Term Debt	0.00	0.00	0.00	0.44	0.00	0.00	0.00	0.00	0.00
Accrued Liabilities	28.66	20.62	22.34	55.80	44.97	-	-	-	-
Deferred Revenue	0.00	0.00	0.00	4.18	28.55	0.00	29.02	47.13	41.11
Other Current Liabilities	90.35	0.00	0.00	0.95	0.00	-2.86	0.00	-2.43	0.00
Total Current Liabilities	90.38	0.00	22.34	56.75	28.85	0.00	31.77	2.40	2.64
Non-Current Liabilities
Long-Term Debt	70.71	60.22	44.42	102.09	96.58	271.50	198.16	253.26	260.67
Deferred Tax Liabilities	3.23	4.37	5.04	4.18	28.55	27.56	29.02	28.53	30.33
Other Non-Current Liabilities	-61.69	-147.70	105.15	103.47	246.24	-387.00	92.66	94.93	171.98
Total Non-Current Liabilities	106.71	0.00	150.76	206.78	460.88	0.00	347.33	348.18	432.65
Total Liabilities	197.09	168.31	173.11	263.53	460.88	433.81	378.85	332.55	435.29
Stockholders' Equity
Common Stock	0.30	0.00	0.00	0.00	0.00	0.00	0.00	0.47	0.00
Retained Earnings	-373.37	-361.45	-346.87	-370.43	-395.15	-394.81	-388.08	-381.20	-313.49
Accumulated Other Comprehensive Income	-0.06	-0.72	-1.54	26.61	30.78	38.06	35.35	40.51	-3.85
Treasury Stock	6.55	6.20	3.70	0.49	-	-	-	-	-
Additional Paid-in Capital	394.85	370.58	379.81	359.99	358.65	354.75	353.61	353.89	356.17
Minority Interest	2.99	1.64	-3.10	0.44	13.98	14.16	13.08	5.63	5.17
Shares Outstanding	28.63	27.14	27.10	23.19	-	-	-	-	-
Total Stockholders' Equity	31.42	16.66	24.61	22.12	0.77	4.51	7.69	19.16	44.14
Total Liabilities & Equity	231.50	186.62	197.72	285.65	475.63	452.47	399.62	357.34	484.60

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Kingsway Balance Sheet

How much debt does Kingsway have?

Kingsway had total debt of $70.71M as of Dec 31, 2025, against $15.63M in cash and short-term investments. Its debt-to-equity ratio was 2.25. Total debt was $60.22M a year earlier.

What are Kingsway's total assets?

Kingsway reported total assets of $231.50M as of Dec 31, 2025, up 24.1% from $186.62M a year earlier. Total liabilities were $197.09M.

What is Kingsway's shareholders' equity?

Kingsway's shareholders' equity was $31.42M as of Dec 31, 2025, or about $1.10 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition