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Good Sign:
Piotroski F-Score is 7, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Kinsale Capital Group has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Kinsale Capital Group's Piotroski F-Score or its related term are showing as below:
During the past 12 years, the highest Piotroski F-Score of Kinsale Capital Group was 8. The lowest was 3. And the median was 7.
The historical data trend for Kinsale Capital Group's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Kinsale Capital Group Annual Data | |||||||||||||||||||||
Trend | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | Dec24 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial |
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6.00 | 7.00 | 3.00 | 8.00 | 7.00 |
Kinsale Capital Group Quarterly Data | ||||||||||||||||||||
Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | Dec24 | |
Piotroski F-Score | Get a 7-Day Free Trial |
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8.00 | 8.00 | 7.00 | 7.00 | 7.00 |
For the Insurance - Property & Casualty subindustry, Kinsale Capital Group's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Insurance industry and Financial Services sector, Kinsale Capital Group's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Kinsale Capital Group's Piotroski F-Score falls into.
How is the Piotroski F-Score calculated?
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Dec24) TTM: | Last Year (Dec23) TTM: |
Net Income was 98.941 + 92.579 + 114.229 + 109.094 = $415 Mil. Cash Flow from Operations was 210.359 + 278.934 + 274.031 + 212.977 = $976 Mil. Revenue was 372.791 + 384.553 + 418.058 + 412.123 = $1,588 Mil. Average Total Assets from the begining of this year (Dec23) to the end of this year (Dec24) was (3772.974 + 4031.287 + 4395.291 + 4732.243 + 4886.704) / 5 = $4363.6998 Mil. Total Assets at the begining of this year (Dec23) was $3,773 Mil. Long-Term Debt & Capital Lease Obligation was $184 Mil. Total Assets was $4,887 Mil. Total Liabilities was $3,403 Mil. |
Net Income was 55.8 + 72.791 + 76.115 + 103.387 = $308 Mil. Revenue was 263.145 + 295.766 + 314.367 + 351.171 = $1,224 Mil. Average Total Assets from the begining of last year (Dec22) to the end of last year (Dec23) was (2747.122 + 2997.822 + 3270.202 + 3442.536 + 3772.974) / 5 = $3246.1312 Mil. Total Assets at the begining of last year (Dec22) was $2,747 Mil. Long-Term Debt & Capital Lease Obligation was $184 Mil. Total Assets was $3,773 Mil. Total Liabilities was $2,686 Mil. |
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Kinsale Capital Group's current Net Income (TTM) was 415.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Kinsale Capital Group's current Cash Flow from Operations (TTM) was 976.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Score 1 if it's higher, 0 if it's lower.
ROA (This Year) | = | Net Income | / | Total Assets (Dec23) |
= | 414.843 | / | 3772.974 | |
= | 0.10995119 |
ROA (Last Year) | = | Net Income | / | Total Assets (Dec22) |
= | 308.093 | / | 2747.122 | |
= | 0.11215119 |
Kinsale Capital Group's return on assets of this year was 0.10995119. Kinsale Capital Group's return on assets of last year was 0.11215119.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Score 1 if CFROA > ROA, 0 if CFROA <= ROA.
Kinsale Capital Group's current Net Income (TTM) was 415. Kinsale Capital Group's current Cash Flow from Operations (TTM) was 976.
==> 976 > 415 ==> CFROA > ROA ==> Score 1.
Funding
Question 5. Change in Gearing or Leverage
Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.
Score 0 if this year's gearing is higher, 1 otherwise.
Gearing (This Year: Dec24) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec23 to Dec24 |
= | 184.122 | / | 4363.6998 | |
= | 0.04219401 |
Gearing (Last Year: Dec23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec22 to Dec23 |
= | 183.846 | / | 3246.1312 | |
= | 0.05663542 |
Kinsale Capital Group's gearing of this year was 0.04219401. Kinsale Capital Group's gearing of last year was 0.05663542.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.
Current Ratio (This Year: Dec24) | = | Total Assets | / | Total Liabilities |
= | 4886.704 | / | 3403.143 | |
= | 1.43593848 |
Current Ratio (Last Year: Dec23) | = | Total Assets | / | Total Liabilities |
= | 3772.974 | / | 2686.142 | |
= | 1.40460705 |
Kinsale Capital Group's current ratio of this year was 1.43593848. Kinsale Capital Group's current ratio of last year was 1.40460705.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Kinsale Capital Group's number of shares in issue this year was 23.329. Kinsale Capital Group's number of shares in issue last year was 23.334.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.
Net Margin (This Year: TTM) | = | Net Income | / | Revenue |
= | 414.843 | / | 1587.525 | |
= | 0.26131431 |
Net Margin (Last Year: TTM) | = | Net Income | / | Revenue |
= | 308.093 | / | 1224.449 | |
= | 0.25161767 |
Kinsale Capital Group's net margin of this year was 0.26131431. Kinsale Capital Group's net margin of last year was 0.25161767.
==> This year's net margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Asset Turnover (This Year) | = | Revenue | / | Total Assets at the Beginning of This Year (Dec23) |
= | 1587.525 | / | 3772.974 | |
= | 0.42076224 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Dec22) |
= | 1224.449 | / | 2747.122 | |
= | 0.44572065 |
Kinsale Capital Group's asset turnover of this year was 0.42076224. Kinsale Capital Group's asset turnover of last year was 0.44572065.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score | = | Que. 1 | + | Que. 2 | + | Que. 3 | + | Que. 4 | + | Que. 5 | + | Que. 6 | + | Que. 7 | + | Que. 8 | + | Que. 9 |
= | 1 | + | 1 | + | 0 | + | 1 | + | 1 | + | 1 | + | 1 | + | 1 | + | 0 | |
= | 7 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Kinsale Capital Group has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Kinsale Capital Group (NYSE:KNSL) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Thank you for viewing the detailed overview of Kinsale Capital Group's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Hatcher Robert V. Iii | director | C/O KINSALE CAPITAL GROUP, INC., 2035 MAYWILL STREET, SUITE 100, RICHMOND VA 23230 |
Robert Iii Lippincott | director, other: Chairman | 3152 CASSEEKEY ISLAND ROAD, JUPITER FL 33477 |
Diane D. Schnupp | officer: SVP, Chief Information Officer | C/O KINSALE CAPITAL GROUP, INC., 2035 MAYWILL STREET, SUITE 100, RICHMOND VA 23230 |
Gregory M Share | director | THREE FIRST NATIONAL PLZ, SUITE 3800, CHICAGO IL 60602 |
James Joseph Ritchie | director | C/O CERES GROUP INC, 17800 ROYALTON ROAD, STRONGSVILLE OH 44136 |
Russell Frederick L. Jr. | director | 1801 LIBBIE AVENUE, SUITE 201, RICHMOND VA 23226 |
Anne C. Kronenberg | director | C/O KINSALE CAPITAL GROUP, INC., 2035 MAYWILL STREET, SUITE 100, RICHMOND VA 23230 |
Brian D. Haney | officer: SVP and COO | C/O KINSALE CAPITAL GROUP, INC., 2035 MAYWILL STREET, SUITE 100, RICHMOND VA 23230 |
Michael P Kehoe | director, officer: CEO and President | JAMES RIVER GROUP, INC., 1414 RALEIGH ROAD, SUITE 415, CHAPEL HILL NC 27517 |
Bryan P. Petrucelli | officer: SVP, CFO and Treasurer | C/O KINSALE CAPITAL GROUP, INC., 2035 MAYWILL STREET, SUITE 100, RICHMOND VA 23230 |
Steven J Bensinger | director | 125 BROAD ST, NEW YORK NY 10004 |
Teresa Chia | director | C/O KINSALE CAPITAL GROUP, INC., 2035 MAYWILL STREET, SUITE 100, RICHMOND VA 23230 |
Mark J. Beachy | officer: EVP and Chief Claims Officer | C/O KINSALE CAPITAL GROUP, INC., 2035 MAYWILL STREET, SUITE 100, RICHMOND VA 23230 |
Ann Marie Marson | officer: SVP and Chief Claims Officer | C/O KINSALE CAPITAL GROUP, INC., 2221 EDWARD HOLLAND DRIVE, SUITE 600, RICHMOND VA 23230 |
Kenney William J. Jr. | officer: SVP/Chief Information Officer | C/O KINSALE CAPITAL GROUP, INC., 2221 EDWARD HOLLAND DRIVE, SUITE 600, RICHMOND VA 23230 |
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