Professional
Added to YB: 2024-04-18
Pitch date: 2024-03-31
KFS [bullish]
Kingsway Corporation
+15.6%
current return
Author Info
No bio for this author
Company Info
Kingsway Corporation through its subsidiaries, engages in the extended warranty and business services in the United States.
Market Cap
$277.4M
Pitch Price
$8.40
Price Target
N/A
Dividend
N/A
EV/EBITDA
38.46
P/E
-31.73
EV/Sales
2.29
Sector
Insurance
Category
growth
Alphyn Capital Management Portfolio Holding: Kingsway Financial Services Inc.
KFS: Legacy warranty biz reliable CF despite '23 headwinds. Search fund model IDs early-career mgrs to acquire & run cos w/ KFS backing. Owns Ravix (outsourced CFO), CSuite, SPI (vacation prop software), DDI (cardiac monitoring +30% rev), Secure Nursing. Small, capital-light, cash generative portfolio w/ $15M pro forma FCF to fund 2-3 yearly deals at 5-7x EBITDA, 50% debt. Irregular growth, but upside as proven serial acquirer compounds gains.
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