Company Valuation: Kingsway Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 103.2 123.5 190.1 234.7 230.8 389.5
Change - 19.65% 53.94% 23.45% -1.68% 68.76%
Enterprise Value (EV) 1 360.4 406.1 229.3 271.2 285.5 459.2
Change - 12.68% -43.54% 18.3% 5.26% 60.82%
P/E -13.4x -137x 7.46x 9.43x -24.1x -31.3x
PBR -51.7x -21.7x 11.7x 8.22x 27x 25.4x
PEG - 1.5x -0x -0.6x 0x -1.3x
Capitalization / Revenue 1.5x 1.27x 1.98x 2.15x 2.04x 2.84x
EV / Revenue 5.22x 4.17x 2.38x 2.49x 2.53x 3.34x
EV / EBITDA 30.7x 31.1x 34.8x 32.5x 40.5x 148x
EV / EBIT 73.5x 93.5x 1,750x 128x 5,948x -75x
EV / FCF 246x 16.6x 3.58x 501x 45.7x 97.5x
FCF Yield 0.41% 6.01% 28% 0.2% 2.19% 1.03%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.3513 -0.04 1.063 0.8905 -0.3476 -0.43
Distribution rate - - - - - -
Net sales 1 68.99 97.27 96.21 109.1 112.9 137.3
EBITDA 1 11.73 13.07 6.58 8.339 7.045 3.1
EBIT 1 4.905 4.345 0.131 2.119 0.048 -6.125
Net income 1 -6.725 -0.342 24.72 23.56 -9.272 -10.73
Net Debt 1 257.1 282.6 39.14 36.52 54.73 69.71
Reference price 2 4.700 5.480 7.930 8.400 8.370 13.450
Nbr of stocks (in thousands) 21,964 22,539 23,977 27,944 27,573 28,956
Announcement Date 3/29/21 2/28/22 3/8/23 3/5/24 3/17/25 3/12/26
1USD in Million2USD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 266M
1.07x27.68x - 45.59% 97.47B
10.62x - - 1.33% 75.75B
6.07x - - 1.91% 57.54B
10.89x1.12x - 3.37% 46.44B
11.21x0.8x - 2.92% 39.03B
10.94x - - 2.67% 38.06B
9x2.28x - 0.18% 32.25B
8.25x - - 0.99% 31.14B
14.79x1.89x - 2.37% 30.87B
Average 9.20x 6.75x 6.81% 44.88B
Weighted average by Cap. 8.07x 11.84x 11.45%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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