Professional
Added to YB: 2025-06-03
Pitch date: 2025-06-01
KFS [bullish]
Kingsway Financial Services Inc.
-1.32%
current return
Author Info
Andvari Associates manages a concentrated investment strategy designed with the goal of outperforming the market. Sign up for the newsletter.
Company Info
Kingsway Financial Services Inc. through its subsidiaries, engages in the extended warranty and business services in the United States.
Market Cap
$365.7M
Pitch Price
$12.90
Price Target
N/A
Dividend
N/A
EV/EBITDA
87.52
P/E
-28.83
EV/Sales
3.53
Sector
Insurance
Category
turnaround
Kingsway: A Search Fund in Public Company Clothing
KFS: Search fund platform exits PWSC at 10x, with newer acquisitions showing strong progress (Ravix 2x EBITDA, DDI 2x revenue). $385M NOLs expiring 2029. Catalysts: Stilwell reduced stake from 27% to 21%, new warranty leadership signals potential segment sale, Bud's Plumbing acquisition targeting $300M+ valuation, and self-funding capability approaching.
Read full article (6 min)