Kinsale Capital Group, Inc. (KNSL) Balance Sheet
KNSL balance sheet, 2025
December 31, 2025 · U.S. dollars$6.04B assets = $4.08B liabilities + $1.96B equity
Both columns are drawn to the same scale: what KNSL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
KNSL financial health
Descriptive bands, not a rating. Fiscal 2025.
KNSL balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $614.4M2016 | $6.04B2025 | +28.9%/yr | |
| Total liabilities | $404.2M2016 | $4.08B2025 | +29.3%/yr | |
| Shareholders’ equity | $210.2M2016 | $1.96B2025 | +28.2%/yr | |
| Cash & short-term investments | $480.3M2016 | $2.68B2025 | +21.0%/yr | |
| Total debt | $36.5M2016 | $224.4M2025 | +22.4%/yr | |
| Net cash (debt) | $443.9M2016 | $2.46B2025 | +$2.0B | |
| Working capital | $54.9M2016 | −$628.1M2025 | −$683.0M | |
| Book value per share | $9.982016 | $84.252025 | +26.8%/yr | |
| Debt / equity | 0.172016 | 0.112025 | −0.06 | |
| Shares outstanding | 21.1M2016 | 23.3M2025 | +1.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
KNSL assets
KNSL liabilities and equity
KNSL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
KNSL balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $2.68B | $3.65B | $2.84B | $1.96B | $1.51B | $1.16B | $829.9M | $585.3M | $561.1M | $480.3M |
| Cash & equivalents | $163.4M | $113.2M | $126.7M | $156.3M | $121.0M | $77.1M | $100.4M | $75.1M | $81.7M | $50.8M |
| Short-term investments | $2.52B | $3.54B | $2.72B | $1.80B | $1.39B | $1.08B | $729.5M | $510.3M | $479.3M | $429.6M |
| Receivables | $549.9M | $505.3M | $412.7M | $340.7M | $201.6M | $141.9M | $107.1M | $81.0M | $19.8M | $17.0M |
| Inventory | $0 | $0 | −$3.24B | −$330.2M | −$211.6M | −$150.9M | −$150.4M | $0 | $0 | $0 |
| Other current assets | $44.5M | $52.7M | $3.29B | $373.2M | $245.3M | $150.9M | $150.4M | $923,000 | $0 | $0 |
| Total current assets | $3.27B | $4.21B | $3.31B | $2.34B | $1.75B | $1.30B | $937.0M | $667.3M | $580.9M | $67.7M |
| Property, plant & equipment (net) | $89.4M | $82.9M | $63.4M | $53.5M | $49.3M | $46.2M | $22.6M | −$7.2M | −$2.5M | −$6.6M |
| Goodwill & intangible assets | $122.3M | $112.8M | $3.5M | $65.1M | $45.5M | $3.5M | $3.5M | $3.5M | $3.5M | $3.5M |
| Long-term investments | $4.97B | $3.94B | $2.95B | $1.95B | $1.56B | $1.22B | $807.8M | $568.0M | $479.3M | $429.6M |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $120.1M |
| Total assets | $6.04B | $4.89B | $3.77B | $2.75B | $2.03B | $1.55B | $1.09B | $773.1M | $667.8M | $614.4M |
| Liabilities | ||||||||||
| Accounts payable | $100.7M | $99.1M | $92.5M | $63.4M | $39.4M | $26.3M | $19.5M | $11.7M | $9.7M | $12.8M |
| Short-term debt | $51.0M | $11.0M | — | — | $42.7M | $42.6M | $16.7M | — | — | — |
| Deferred revenue | $860.4M | $828.4M | $701.4M | $499.7M | $347.7M | — | — | — | — | — |
| Total current liabilities | $3.90B | $3.22B | $2.49B | $1.80B | $1.31B | $68.9M | $36.3M | $11.7M | $9.7M | $12.8M |
| Long-term debt | $173.4M | $184.1M | $183.8M | $195.7M | $42.7M | $0 | $16.7M | $0 | $0 | $36.5M |
| Other long-term liabilities | $7.6M | $0 | $15.6M | $4.5M | $0 | $4.6M | $0 | $7.2M | $2.5M | $0 |
| Total liabilities | $4.08B | $3.40B | $2.69B | $2.00B | $1.33B | $970.7M | $684.7M | $509.1M | $429.7M | $404.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $234,000 | $233,000 | $232,000 | $231,000 | $228,000 | $228,000 | $222,000 | $212,000 | $210,000 | $210,000 |
| Retained earnings (deficit) | $1.72B | $1.23B | $828.2M | $533.1M | $385.9M | $243.3M | $162.9M | $106.5M | $73.5M | $53.6M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$30.7M | −$97.2M | −$94.6M | −$134.9M | $18.1M | $41.4M | $13.5M | −$1.3M | $9.4M | $3.0M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $1.96B | $1.48B | $1.09B | $745.4M | $699.3M | $576.2M | $405.9M | $264.0M | $238.2M | $210.2M |
| Key figures | ||||||||||
| Total debt | $224.4M | $184.1M | $183.8M | $195.7M | $85.4M | $42.6M | $16.7M | — | — | $36.5M |
| Net cash (debt) | $2.46B | $3.47B | $2.66B | $1.76B | $1.43B | $1.12B | $813.2M | — | — | $443.9M |
| Working capital | −$628.1M | $988.3M | $822.6M | $539.8M | $437.3M | $1.23B | $900.7M | $655.6M | $571.1M | $54.9M |
| Tangible book value | $1.84B | $1.37B | $1.08B | $680.3M | $653.8M | $572.7M | $402.3M | $260.4M | $234.7M | $206.7M |
| Book value per share | $84.25 | $63.58 | $46.63 | $32.24 | $30.32 | $25.22 | $18.34 | $12.17 | $11.08 | $9.98 |
| Shares outstanding | 23.3M | 23.3M | 23.3M | 23.1M | 23.1M | 22.9M | 22.1M | 21.7M | 21.5M | 21.1M |
| Current ratio | 0.84 | 1.31 | 1.33 | 1.30 | 1.33 | 18.88 | 25.84 | 57.25 | 59.61 | 5.27 |
| Quick ratio | 0.83 | 1.29 | 1.31 | 1.28 | 1.31 | 18.88 | 25.84 | 57.18 | 59.61 | 38.73 |
| Debt / equity | 0.11 | 0.12 | 0.17 | 0.26 | 0.12 | 0.07 | 0.04 | — | — | 0.17 |
| Equity / assets | 32.4% | 30.4% | 28.8% | 27.1% | 34.5% | 37.3% | 37.2% | 34.1% | 35.7% | 34.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $210.5M | $2.79B | $2.68B | $2.35B | $2.14B | $2.07B | $3.65B | $1.85B | $177.9M | $141.8M | $126.7M | $1.33B |
| Cash & equivalents | $210.5M | $223.3M | $163.4M | $170.2M | $138.1M | $142.0M | $113.2M | $111.7M | $171.0M | $136.1M | $126.7M | $162.9M |
| Short-term investments | $2.68B | $2.57B | $2.52B | $2.18B | $2.00B | $1.93B | $3.54B | $1.74B | $6.9M | $5.6M | $2.72B | $1.16B |
| Receivables | $148.0M | $571.8M | $549.9M | $545.8M | $586.6M | $549.8M | $505.3M | $479.7M | $171.8M | $181.0M | $391.0M | $364.9M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$628.0M | −$3.42B | −$3.15B | −$275.5M | $443.7M |
| Other current assets | $33.5M | $43.9M | $44.5M | $48.8M | $54.4M | $54.1M | $52.7M | $683.4M | $3.91B | $3.57B | $328.0M | $517.1M |
| Total current assets | $392.0M | $3.41B | $3.27B | $2.95B | $2.78B | $2.67B | $4.21B | $2.39B | $844.8M | $746.5M | $570.3M | $2.65B |
| Property, plant & equipment (net) | $54.7M | $93.3M | $89.4M | $123.2M | $112.2M | $95.0M | $82.9M | $73.7M | $68.2M | $65.6M | $63.4M | $62.3M |
| Goodwill & intangible assets | $3.5M | $122.7M | $122.3M | $128.0M | $127.6M | $115.9M | $112.8M | $114.1M | −$105.8M | $3.5M | $3.5M | $3.5M |
| Long-term investments | $5.24B | $5.05B | $4.97B | $4.75B | $4.47B | $4.19B | $3.94B | $3.83B | $3.40B | $3.15B | $2.95B | $2.60B |
| Other non-current assets | $734.9M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $191.0M | $70.0M | $183.6M | $0 |
| Total assets | $6.43B | $6.22B | $6.04B | $5.83B | $5.56B | $5.21B | $4.89B | $4.73B | $4.40B | $4.03B | $3.77B | $3.44B |
| Liabilities | ||||||||||||
| Accounts payable | $36.5M | $55.8M | $100.7M | $85.6M | $79.9M | $67.7M | $99.1M | $83.0M | $75.6M | $16.3M | $92.5M | $299.1M |
| Short-term debt | — | $51.0M | $51.0M | $26.0M | — | — | $11.0M | — | — | — | — | — |
| Deferred revenue | $891.6M | $856.2M | $860.4M | $909.6M | $921.1M | $845.7M | $828.4M | $844.7M | $846.6M | $747.4M | $648.8M | — |
| Total current liabilities | $960.5M | $4.03B | $3.90B | $3.79B | $3.62B | $3.38B | $3.22B | $3.09B | $2.94B | $2.68B | $741.3M | $299.1M |
| Long-term debt | $173.5M | $173.5M | $173.4M | $199.3M | $184.3M | $184.2M | $184.1M | $184.1M | $184.0M | $183.9M | $183.8M | $183.8M |
| Other long-term liabilities | $3.24B | $48.5M | $7.6M | $0 | $25.1M | $63.8M | $0 | $24.8M | $18.8M | $0 | $1.76B | $0 |
| Total liabilities | $4.39B | $4.25B | $4.08B | $3.97B | $3.83B | $3.63B | $3.40B | $3.30B | $3.14B | $2.86B | $2.69B | $2.52B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $235,000 | $235,000 | $234,000 | $234,000 | $234,000 | $234,000 | $233,000 | $233,000 | $233,000 | $233,000 | $232,000 | $232,000 |
| Retained earnings (deficit) | $1.99B | $1.82B | $1.72B | $1.58B | $1.44B | $1.31B | $1.23B | $1.12B | $1.01B | $923.7M | $828.2M | $728.1M |
| Accumulated other comprehensive income | −$74.2M | −$65.6M | −$30.7M | −$36.2M | −$56.4M | −$70.8M | −$97.2M | −$46.8M | −$110.2M | −$104.6M | −$94.6M | −$155.0M |
| Total shareholders' equity | $2.04B | $1.97B | $1.96B | $1.87B | $1.72B | $1.58B | $1.48B | $1.43B | $1.26B | $1.17B | $1.09B | $923.8M |
| Key figures | ||||||||||||
| Total debt | $224.5M | $224.5M | $224.4M | $199.3M | $184.3M | $184.2M | $184.1M | $184.1M | $184.0M | $183.9M | $183.8M | $183.8M |
| Net cash (debt) | −$14.0M | $2.57B | $2.46B | $2.15B | $1.95B | $1.88B | $3.47B | $1.67B | −$6.1M | −$42.1M | −$57.2M | $1.14B |
| Working capital | −$568.5M | −$617.8M | −$628.1M | −$840.8M | −$845.5M | −$711.4M | $988.3M | −$700.1M | −$2.09B | −$1.93B | −$171.1M | $2.35B |
| Tangible book value | $2.03B | $1.84B | $1.84B | $1.74B | $1.59B | $1.47B | $1.37B | $1.32B | $1.36B | $1.17B | $1.08B | $920.2M |
| Book value per share | $89.32 | $85.33 | $84.61 | $80.15 | $73.96 | $67.85 | $63.59 | $61.49 | $53.89 | $50.18 | $46.61 | $39.62 |
| Shares outstanding | 22.8M | 23.1M | 23.2M | 23.3M | 23.3M | 23.3M | 23.3M | 23.3M | 23.3M | 23.3M | 23.3M | 23.3M |
| Current ratio | 0.41 | 0.85 | 0.84 | 0.78 | 0.77 | 0.79 | 1.31 | 0.77 | 0.29 | 0.28 | 0.77 | 8.87 |
| Quick ratio | 0.37 | 0.84 | 0.83 | 0.77 | 0.75 | 0.77 | 1.29 | 0.76 | 0.12 | 0.12 | 0.70 | 5.65 |
| Debt / equity | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.12 | 0.12 | 0.13 | 0.15 | 0.16 | 0.17 | 0.20 |
| Equity / assets | 31.7% | 31.7% | 32.4% | 32.0% | 31.0% | 30.4% | 30.4% | 30.3% | 28.6% | 29.0% | 28.8% | 26.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 20, 2026); data from EODHD.
KNSL financial position
At the end of fiscal 2025 (December 31, 2025), Kinsale Capital had total assets of $6.0 billion (up 23.7% from a year earlier), total liabilities of $4.1 billion and shareholders' equity of $2.0 billion. It held $2.7 billion in cash and short-term investments against $224.4 million of debt, a net cash position of $2.5 billion. Its current ratio was 0.84. In the latest quarter (ended June 30, 2026) total assets were $6.4 billion and equity $2.0 billion.
Related: KNSL income statement, KNSL cash flow statement, KNSL key metrics. See the KNSL stock overview for the latest quote and news.
KNSL balance sheet FAQ
What are Kinsale Capital's total assets?
Kinsale Capital reported total assets of $6.0 billion at the end of fiscal 2025 (December 31, 2025), compared with $4.9 billion a year earlier.
How much debt does Kinsale Capital have?
Kinsale Capital had $224.4 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.11.
How much cash does Kinsale Capital have?
Kinsale Capital held $2.7 billion in cash and short-term investments at the end of fiscal 2025; with $224.4 million of debt that is net cash of $2.5 billion.
What is Kinsale Capital's book value?
Kinsale Capital's shareholders' equity (book value) was $2.0 billion at the end of fiscal 2025, or $84.25 per share.
What is Kinsale Capital's current ratio?
Kinsale Capital had current assets of $3.3 billion and current liabilities of $3.9 billion, a current ratio of 0.84 (current liabilities exceed current assets).
How much goodwill does Kinsale Capital have?
Kinsale Capital carried $122.3 million of goodwill and intangible assets, 2.0% of total assets, at the end of fiscal 2025.