KINGSWAY CORP (KWY)
Financials · Search fund holding company / diversified business services · NYSE
A publicly-traded search fund holding company that acquires and operates recurring-revenue service businesses in plumbing, industrial equipment maintenance, and extended warranty sectors.
What KINGSWAY CORP does
Kingsway Financial Services is a holding company that acquires and operates small-to-mid-market B2B and B2C service businesses, primarily in business services and extended warranty sectors. The company employs a decentralized "Search Fund" model to identify, acquire, and grow asset-light companies with recurring revenues across the United States. Its operations are organized into two reportable segments: Kingsway Search Xcelerator (a portfolio of service businesses including plumbing, electric motor services, and other trades) and Extended Warranty.
Themes: ["Search Fund / holding company","Decentralized operations and management","Recurring services revenue","Residential and commercial services","Trades and skilled services","Extended warranty"]
Fundamentals
- Price$9.99 as of 2026-07-09 close
- Market cap$289M as of 2026-07-10
- 1-year return-4.3% as of 2026-07-09 close
- Net margin-6.8% as of 2026-07-10
- ROE-31.4% as of 2026-07-10
- Debt / equity2.42 as of 2026-07-10
- Revenue growth (YoY)+29.1% as of 2026-07-10
- Revenue CAGR (3y)+13.1% SEC XBRL
- Beta1.51 as of 2026-07-10
Dividend: yield +0.4%; pays a dividend.
Key risks (from latest filing)
["Operating losses and negative margins: The company reported a net loss of $2.3 million in Q1 2026 with a -6.85% net margin, indicating ongoing unprofitability despite 29% revenue growth.","Integration execution risk: Rapid acquisition activity (four acquisitions completed in 2025) in disparate service businesses creates execution and integration challenges.","Debt burden and leverage: The company carries significant debt from acquisitions, with $71.2 million in total debt at March 31, 2026, while maintaining limited equity ($15.5 million), resulting in high financial leverage."]
Competitors & peers
- Sully Solutions
- American Residential Services (part of Berkshire Hathaway)
- ServiceMaster (SMFL)
- Lennox International (LIX)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.