Kinsale Capital Group, Inc. Earnings Per Share Disclosure
| Year ended December 31, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
| (in thousands, except per share data) | ||||||||||||||||||||
| Net income | $ | 503,614 | $ | 414,843 | $ | 308,093 | ||||||||||||||
| Weighted average common shares outstanding - basic | 23,140 | 23,153 | 23,045 | |||||||||||||||||
| Dilutive effect of shares issued under stock compensation arrangements: | ||||||||||||||||||||
Stock options | 89 | 136 | 214 | |||||||||||||||||
Restricted stock awards | 30 | 43 | 48 | |||||||||||||||||
| Total dilutive effect of shares issued under stock compensation arrangements | 119 | 179 | 262 | |||||||||||||||||
| Weighted average common shares outstanding - diluted | 23,259 | 23,332 | 23,307 | |||||||||||||||||
| Earnings per common share: | ||||||||||||||||||||
| Basic | $ | 21.76 | $ | 17.92 | $ | 13.37 | ||||||||||||||
| Diluted | $ | 21.65 | $ | 17.78 | $ | 13.22 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 20, 2026 | Showing above |
| 2024 | Feb 21, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Mar 2, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Mar 1, 2018 | |
| 2016 | Mar 16, 2017 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.