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FS KKR Capital Corp.

FSK Financial Asset Management

FS KKR Capital Corp.’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, down 11.7% from fiscal 2024.

Revenue
−21.2%
EPS
−65.8%
Free cash flow
−42.9%
Total debt
−15.3%

Quarter to September 2026, against a year earlier

11.80 0.34 +2.97%
Market cap
$3.2B
P/E
0.0×
Fwd P/E
−11.6×
Dividend yield
16.5%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 5.57%

Capital & Financial Ratios $m

Size
Market Cap 3,220.00
Revenue ttm 1,236.00
Net income ttm (516.00)
Free cash flow ttm 1,620.00
Net debt Q 6,068.00
Valuation
P/E 0.00
Forward P/E (11.60) (negative: loss-making)
Price / sales 2.64
Forward P/S Powerpack
Price / FCF 2.01
Price / book 0.65
Financial health
Current ratio Q 2.28
Debt / equity Q 1.21
Interest coverage Q 0.00
Growth
Revenue growth Q −21.18% (below 0%: shrinking)
Operating income growth Q −29.48% (below 0%: shrinking)
EPS, this year −29.77% (below 0%: weak)
EPS, next year A −8.61% (below 0%: weak)
Revenue, next year A −25.08% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A −16.07% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/S against its own 10 years 10.93%
10-year low 10-year high
P/B against its own 10 years 17.46%
10-year low 10-year high

Dividends

Yield
16.5%
Annual rate
1.95
Payout ratio
—
Growth, 2017–25
−25.7%/yr
  1. 13.73 ’17
  2. 12.16 ’18 −11
  3. 12.16 ’19 +0
  4. 6.64 ’20 −45
  5. 2.47 ’21 −63
  6. 2.53 ’22 +2
  7. 0.64 ’23 −75
  8. 1.28 ’24 +100
  9. 1.28 ’25 +0
  10. 1.75 ’26e +36
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 223 278 181 163
Receivables 536 373 411 178
Inventory — — — —
Other 8 18 27 9
807 726 720 —
2023 2024 2025 Q'26
Payables 396 201 164 239
ST’ Debt — — — —
Other — — — —
429 245 236 252

Compound Annual Growth %

10y 5y 3y
Sales 12.33% 18.91% (2.42%)
Cash Flow 12.95% (2.59%) (18.83%)
Earnings (11.75%) 0.00% (50.74%)
Book Value 10.23% 13.57% (5.87%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.41 Actual 0.43

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.57 0.57 Met by 0.00
Q4 FY25 0.55 0.52 Miss by 0.03
Q1 FY26 0.44 0.41 Miss by 0.03
Q2 FY26 0.41 0.43 Beat by 0.02
Q3 FY26 0.40 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (1.57) (0.13) 0.26 — —
’25 0.43 (0.75) 0.76 (0.41) 0.04
’24 0.62 0.37 0.57 0.53 2.09
’23 0.71 0.51 0.95 0.32 2.48
’22 0.79 (0.26) (0.45) 0.24 0.32
’21 1.61 5.75 0.95 0.64 7.16
’20 (5.60) (0.44) 1.70 1.16 (3.26)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 304 290 294 — —
’25 400 398 373 348 1,519
’24 434 439 441 407 1,721
’23 456 462 465 447 1,830
’22 396 379 411 449 1,635
’21 151 206 360 364 1,081
’20 179 150 147 163 639
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 245 776 404 — —
’25 (418) 108 707 195 592
’24 466 376 81 978 1,901
’23 247 761 242 134 1,384
’22 (520) 605 326 696 1,107
’21 435 109 (850) (333) (639)
’20 131 346 82 116 675
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 245 776 404 — —
’25 (418) 108 707 195 592
’24 466 376 81 978 1,901
’23 247 761 242 134 1,384
’22 (520) 605 326 696 1,107
’21 435 109 (850) (333) (639)
’20 131 346 82 116 675
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 423 419 394 779 639 1,081 1,635 1,830 1,721 1,519 1,236 +15.3% 1,138 1,073 970 (13.9%)
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 294 182 569 246 (405) 1,515 92 696 585 11 (516) (30.6%)
EBT margin, % 69.50 43.44 144.42 31.58 (63.38) 140.15 5.63 38.03 33.99 0.72 (41.75) (68.8) pt
Net income 294 182 569 246 (405) 1,515 92 696 585 11 (516) (30.6%)
Per share, $
Per share, $ Revenue 6.95 6.83 6.27 6.00 5.14 5.11 5.77 6.53 6.15 5.42 4.47 (2.7%)
Earnings 4.84 2.96 9.04 1.88 (3.26) 7.16 0.32 2.48 2.09 0.04 (1.85) (41.3%)
Cash flow 8.64 1.08 4.46 (1.97) 5.43 (3.02) 3.90 4.94 6.79 2.11 5.86 (14.5%)
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 n/m
Free cash flow 8.64 1.08 4.46 (1.97) 5.43 (3.02) 3.90 4.94 6.79 2.11 5.86 (14.5%)
Book value 37.75 37.26 66.29 29.80 24.91 36.52 24.73 24.44 23.64 20.88 18.64 (6.4%)
Shares, m 61 61 63 130 124 212 284 280 280 280 279 +18.5%
Valuation, ×
Valuation, × P/E 8.47 10.07 2.29 13.04 0.00 2.34 55.16 8.11 10.39 493.67 0.00 60.4
P/S 5.90 4.42 3.30 4.08 3.22 4.10 3.06 3.09 3.53 2.73 2.64 3.7
P/B 1.09 0.81 0.31 0.82 0.66 0.57 0.71 0.83 0.92 0.71 0.65 0.7
EV/Sales 9.28 8.18 11.66 9.32 9.19 12.32 8.23 7.44 7.64 7.64 — 9.1
EV/FCF 7.46 51.95 16.40 (28.36) 8.70 (20.84) 12.15 9.84 6.92 19.60 — 8.4
Cash, $m
Cash, $m Operating cash flow 526 66 280 (256) 675 (639) 1,107 1,384 1,901 592 1,620 +1.3%
Capex — — — — — — — — — — 0 —
Free cash flow 526 66 280 (256) 675 (639) 1,107 1,384 1,901 592 1,620 +1.3%
Balance, $m
Balance, $m Working capital 264 71 167 681 314 763 305 378 481 484 323 +7.0%
Net debt 1,429 1,577 3,290 4,080 3,815 8,884 8,446 7,964 7,073 7,453 6,068 +20.1%
Shareholders’ equity 2,297 2,285 4,166 3,866 3,096 7,730 7,012 6,849 6,622 5,849 5,149 +10.9%
Returns, %
Returns, % ROA 7.12 4.43 9.64 3.09 (5.24) 12.39 0.55 4.41 3.94 0.08 (4.03) (7.0) pt
ROIC 3.57 3.33 1.75 3.28 3.08 2.13 3.33 3.86 3.82 3.18 0.00 (0.4) pt
ROE 13.05 7.94 17.64 6.13 (11.63) 27.99 1.25 10.04 8.69 0.18 (9.25) (12.9) pt
People
People Employees — — — — — — — — — — — —
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

FS KKR Capital Corp. vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GBDC Golub Capital BDC, Inc. $3.4B 19.9× 20.6× −14.02% (below 0%: shrinking) −35.29% (below 0%: shrinking) +196.17% (above 0%: growing) 100.00% 77.88% Compare
AAMI Acadian Asset Management Inc. $3.3B 26.2× — (loss-making) +32.59% (above 0%: growing) +155.52% (above 0%: growing) −65.25% (below 0%: shrinking) 100.00% 26.41% Compare
APAM Artisan Partners Asset Management Inc. $3.2B 9.4× 9.7× +3.73% (above 0%: growing) +11.83% (above 0%: growing) +168.53% (above 0%: growing) 48.10% 35.13% Compare
FSK FS KKR Capital Corp. $3.2B — (loss-making) — (loss-making) −21.18% (below 0%: shrinking) −65.79% (below 0%: shrinking) −42.86% (below 0%: shrinking) 100.00% 0.00%
AB AllianceBernstein Holding L.P. $3.2B 10.3× — — −0.09% (below 0%: shrinking) +7.24% (above 0%: growing) — — Compare
HTGC Hercules Capital, Inc. $3.1B 8.5× 8.7× +1.46% (above 0%: growing) −24.24% (below 0%: shrinking) −5,073.08% (below 0%: shrinking) 100.00% 80.30% Compare
SII Sprott Inc. $2.9B 27.5× 13.0× +23.09% (above 0%: growing) +155.77% (above 0%: growing) +64.22% (above 0%: growing) 100.00% 56.77% Compare
WT WisdomTree, Inc. $2.9B 25.3× 27.5× +42.80% (above 0%: growing) +138.21% (above 0%: growing) +24.39% (above 0%: growing) 100.00% 41.32% Compare
ASST Strive, Inc. $2.6B — (loss-making) — (loss-making) +94.64% (above 0%: growing) n/m −10,264.43% (below 0%: shrinking) 100.00% (8,780.99%) Compare
Median of peers $3.2B 19.9× 13.0× +23.09% +11.83% +15.82% 100.00% 41.32%

All 121 Asset Management stocks →

Pay and ownership Proxy statement filed 30 April 2026

Ownership

Directors and executive officers, together less than 1%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

FS KKR Capital Corp. (FSK) Latest News

6 Nov

Impact 3 · · GuruFocus.com

5 Nov

Impact 3 · · Moby
Impact 3 · · The Motley Fool transcript

29 Oct

Impact 3 · · Zacks

28 Oct

Impact 3 · · Zacks

24 Oct

Impact 3 · · 24/7 Wall St.

13 Oct

Impact 3 · · Zacks

8 Oct

Impact 3 · · PR Newswire

8 Aug

Impact 3 · · MarketBeat

6 Aug

Impact 4 · · Moby transcript
Impact 3 ·

29 Jun

Impact 3 ·

17 Jun

Impact 3 ·

8 Jun

Impact 3 · · PR Newswire

14 May

Impact 3 · · Simply Wall St.

12 May

Impact 4 · · GuruFocus.com

11 May

Impact 4 · · Barrons.com
Impact 4 · · The Motley Fool transcript
Impact 4 · · Zacks
Impact 4 · · PR Newswire
Impact 4 · · Business Wire
Impact 3 · · MarketBeat
Impact 3 · · InvestorsHub

7 May

Impact 3 · · Zacks
Impact 3 · · Moby

14 Apr

Impact 3 · · 24/7 Wall St.

10 Apr

Impact 4 · · 24/7 Wall St.

26 Mar

Impact 3 · · Barrons.com

20 Mar

Impact 4 · · The Motley Fool

12 Mar

Impact 3 · · Insider Monkey

FSK metrics, ten years each

stockrow.com/FSK · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com