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Side-by-side financial comparison of James River Group Holdings, Inc. (JRVR) and Kennedy-Wilson Holdings, Inc. (KW). Click either name above to swap in a different company.
James River Group Holdings, Inc. is the larger business by last-quarter revenue ($167.7M vs $120.6M, roughly 1.4× Kennedy-Wilson Holdings, Inc.). Kennedy-Wilson Holdings, Inc. runs the higher net margin — 48.1% vs 19.1%, a 29.0% gap on every dollar of revenue. On growth, James River Group Holdings, Inc. posted the faster year-over-year revenue change (32.4% vs -11.0%). James River Group Holdings, Inc. produced more free cash flow last quarter ($-23.6M vs $-55.2M). Over the past eight quarters, Kennedy-Wilson Holdings, Inc.'s revenue compounded faster (-6.0% CAGR vs -8.7%).
James River Corporation was an American pulp and paper company based in Richmond, Virginia, once the largest paper manufacturer in the world.
Kennedy Wilson is a real estate investment company headquartered in Beverly Hills, California, United States.
JRVR vs KW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $167.7M | $120.6M |
| Net Profit | $32.1M | $58.0M |
| Gross Margin | — | — |
| Operating Margin | 14.6% | 57.3% |
| Net Margin | 19.1% | 48.1% |
| Revenue YoY | 32.4% | -11.0% |
| Net Profit YoY | 149.5% | 32.7% |
| EPS (diluted) | $0.59 | $0.22 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $167.7M | $120.6M | ||
| Q3 25 | $172.7M | $116.4M | ||
| Q2 25 | $174.8M | $135.7M | ||
| Q1 25 | $172.3M | $128.3M | ||
| Q4 24 | $126.7M | $135.5M | ||
| Q3 24 | $191.5M | $127.5M | ||
| Q2 24 | $188.3M | $132.0M | ||
| Q1 24 | $201.1M | $136.4M |
| Q4 25 | $32.1M | $58.0M | ||
| Q3 25 | $1.0M | $-10.2M | ||
| Q2 25 | $4.8M | $5.6M | ||
| Q1 25 | $9.6M | $-29.6M | ||
| Q4 24 | $-64.8M | $43.7M | ||
| Q3 24 | $-39.4M | $-66.8M | ||
| Q2 24 | $7.6M | $-48.3M | ||
| Q1 24 | $15.4M | $37.7M |
| Q4 25 | 14.6% | 57.3% | ||
| Q3 25 | 1.5% | -6.2% | ||
| Q2 25 | 4.2% | 7.4% | ||
| Q1 25 | 9.3% | -26.9% | ||
| Q4 24 | -57.0% | 36.7% | ||
| Q3 24 | -27.1% | -60.8% | ||
| Q2 24 | 10.7% | -45.5% | ||
| Q1 24 | 16.4% | 47.2% |
| Q4 25 | 19.1% | 48.1% | ||
| Q3 25 | 0.6% | -8.8% | ||
| Q2 25 | 2.7% | 4.1% | ||
| Q1 25 | 5.6% | -23.1% | ||
| Q4 24 | -51.1% | 32.3% | ||
| Q3 24 | -20.6% | -52.4% | ||
| Q2 24 | 4.0% | -36.6% | ||
| Q1 24 | 7.7% | 27.6% |
| Q4 25 | $0.59 | $0.22 | ||
| Q3 25 | $-0.02 | $-0.15 | ||
| Q2 25 | $0.06 | $-0.05 | ||
| Q1 25 | $0.16 | $-0.30 | ||
| Q4 24 | $-2.44 | $0.24 | ||
| Q3 24 | $-1.10 | $-0.56 | ||
| Q2 24 | $0.13 | $-0.43 | ||
| Q1 24 | $0.35 | $0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $260.9M | $184.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $538.2M | $1.5B |
| Total Assets | $4.9B | $6.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $260.9M | $184.5M | ||
| Q3 25 | $238.8M | $382.6M | ||
| Q2 25 | $220.0M | $309.1M | ||
| Q1 25 | $279.4M | $356.6M | ||
| Q4 24 | $362.3M | $217.5M | ||
| Q3 24 | $359.8M | $367.1M | ||
| Q2 24 | $672.5M | $366.5M | ||
| Q1 24 | $305.5M | $541.9M |
| Q4 25 | $538.2M | $1.5B | ||
| Q3 25 | $503.6M | $1.5B | ||
| Q2 25 | $492.6M | $1.6B | ||
| Q1 25 | $484.5M | $1.6B | ||
| Q4 24 | $460.9M | $1.6B | ||
| Q3 24 | $530.3M | $1.6B | ||
| Q2 24 | $541.8M | $1.7B | ||
| Q1 24 | $539.5M | $1.7B |
| Q4 25 | $4.9B | $6.6B | ||
| Q3 25 | $5.0B | $6.7B | ||
| Q2 25 | $5.0B | $6.8B | ||
| Q1 25 | $4.9B | $7.2B | ||
| Q4 24 | $5.0B | $7.0B | ||
| Q3 24 | $5.0B | $7.4B | ||
| Q2 24 | $4.7B | $7.5B | ||
| Q1 24 | $5.3B | $7.7B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-18.8M | $11.4M |
| Free Cash FlowOCF − Capex | $-23.6M | $-55.2M |
| FCF MarginFCF / Revenue | -14.1% | -45.8% |
| Capex IntensityCapex / Revenue | 2.9% | 55.2% |
| Cash ConversionOCF / Net Profit | -0.59× | 0.20× |
| TTM Free Cash FlowTrailing 4 quarters | $-17.9M | $-103.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-18.8M | $11.4M | ||
| Q3 25 | $34.3M | $-7.6M | ||
| Q2 25 | $25.2M | $42.0M | ||
| Q1 25 | $-51.5M | $-51.9M | ||
| Q4 24 | $-247.1M | $55.1M | ||
| Q3 24 | $-269.9M | $-5.6M | ||
| Q2 24 | $-8.7M | $36.7M | ||
| Q1 24 | $24.1M | $-5.6M |
| Q4 25 | $-23.6M | $-55.2M | ||
| Q3 25 | $33.7M | $-18.0M | ||
| Q2 25 | $24.7M | $29.4M | ||
| Q1 25 | $-52.7M | $-59.7M | ||
| Q4 24 | $-252.0M | $-76.5M | ||
| Q3 24 | $-270.8M | $-27.7M | ||
| Q2 24 | $-9.3M | $-500.0K | ||
| Q1 24 | $23.3M | $-57.1M |
| Q4 25 | -14.1% | -45.8% | ||
| Q3 25 | 19.5% | -15.5% | ||
| Q2 25 | 14.1% | 21.7% | ||
| Q1 25 | -30.6% | -46.5% | ||
| Q4 24 | -198.9% | -56.5% | ||
| Q3 24 | -141.4% | -21.7% | ||
| Q2 24 | -4.9% | -0.4% | ||
| Q1 24 | 11.6% | -41.9% |
| Q4 25 | 2.9% | 55.2% | ||
| Q3 25 | 0.4% | 8.9% | ||
| Q2 25 | 0.3% | 9.3% | ||
| Q1 25 | 0.7% | 6.1% | ||
| Q4 24 | 3.9% | 97.1% | ||
| Q3 24 | 0.4% | 17.3% | ||
| Q2 24 | 0.3% | 28.2% | ||
| Q1 24 | 0.4% | 37.8% |
| Q4 25 | -0.59× | 0.20× | ||
| Q3 25 | 33.61× | — | ||
| Q2 25 | 5.29× | 7.50× | ||
| Q1 25 | -5.38× | — | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.14× | — | ||
| Q1 24 | 1.56× | -0.15× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JRVR
| Excess And Surplus Lines | $156.7M | 93% |
| Specialty Admitted Insurance | $10.9M | 7% |
KW
| Consolidated Portfolio Segment | $84.9M | 70% |
| Investment Management Fees | $30.4M | 25% |
| Real Estate | $5.1M | 4% |
