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KKR & Co. Inc.

KKR Financial Asset Management

KKR & Co. Inc.’s revenue for fiscal 2025 (year ended December 2025) was $19.5 billion, down 11.0% from fiscal 2024.

Revenue
+12.5%
EPS
+39.6%
Free cash flow
+762.7%
Total debt
+4.43%

Quarter to June 2026, against a year earlier

97.38 0.92 −0.94%
Market cap
$88.2B
P/E
29.3×
Fwd P/E
13.9×
Dividend yield
0.77%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Insider Decisions last twelve months

Bought, $m 50.93
Sold, $m 1.09
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 6 2 — — — — — — — —
Sell — — — — — — — — — 1 — —
Insider Ownership 22.76%

Capital & Financial Ratios $m

Size
Market Cap 88,240.00
Revenue ttm 21,309.16
Net income ttm 5,511.83
Free cash flow ttm 2,339.92
Net debt Q 32,275.01
Valuation
P/E 29.34
Forward P/E 13.90
Price / sales 4.14
Forward P/S Powerpack
Price / FCF 37.73
Price / book 1.18
Financial health
Current ratio Q 0.09
Debt / equity Q 0.69
Interest coverage Q 0.51
Growth
Revenue growth Q +12.52% (above 0%: growing)
Operating income growth Q −4.59% (below 0%: shrinking)
EPS, this year +68.98% (at or above 15%: strong)
EPS, next year A −13.53% (below 0%: weak)
Revenue, next year A −38.70% (below 0%: weak)
EPS, past 5 yrs −7.04% (below 0%: weak)
EPS, next 5 yrs A +19.02% (at or above 15%: strong)

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

Valuation vs history

P/E against its own 10 years 68.75%
10-year low 10-year high
P/S against its own 10 years 41.07%
10-year low 10-year high
P/B against its own 10 years 78.11%
10-year low 10-year high

Dividends raised 6 years running

Yield
0.77%
Annual rate
0.76
Payout ratio
24.2%
Growth, 2017–25
+1.08%/yr
  1. 0.67 ’17
  2. 0.64 ’18 −5
  3. 0.50 ’19 −21
  4. 0.53 ’20 +6
  5. 0.57 ’21 +8
  6. 0.61 ’22 +7
  7. 0.65 ’23 +7
  8. 0.69 ’24 +6
  9. 0.73 ’25 +6
  10. 0.78 ’26e +7
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 20,808 15,368 17,152 21,202
Receivables 1,447 1,856 2,308 2,729
Inventory — — — —
Other — — — —
22,255 17,224 19,459 23,932
2023 2024 2025 Q'26
Payables 194,936 229,692 252,824 255,653
ST’ Debt — — — —
Other 1,423 1,159 1,219 1,012
207,334 244,486 271,733 276,711

Compound Annual Growth %

10y 5y 3y
Sales 33.99% 35.69% 50.55%
Cash Flow 2.17% 0.00% 0.00%
Earnings 16.51% 2.96% 0.00%
Book Value 4.82% 14.11% 12.64%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 1.42 Actual 1.63

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 1.29 1.41 Beat by 0.12
Q4 FY25 1.16 1.12 Miss by 0.04
Q1 FY26 1.28 1.39 Beat by 0.11
Q2 FY26 1.42 1.63 Beat by 0.21
Q3 FY26 1.58 — Reports 9 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.38 0.70 — — —
’25 (0.22) 0.50 0.90 1.16 2.34
’24 0.74 0.72 0.69 1.18 3.28
’23 0.36 0.94 1.64 1.14 4.09
’22 (0.12) (1.22) (0.11) 0.09 (0.79)
’21 2.68 2.03 1.80 0.82 7.31
’20 (2.31) 1.24 1.79 2.46 3.37
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 4,318 5,726 — — —
’25 3,110 5,089 5,526 5,739 19,464
’24 9,657 4,172 4,792 3,258 21,879
’23 3,127 3,627 3,315 4,430 14,499
’22 999 323 1,856 2,525 5,704
’21 4,563 3,136 4,483 4,043 16,226
’20 (1,002) 1,332 1,895 2,005 4,231
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,747 3,253 — — —
’25 2,550 439 2,390 (4,900) 478
’24 1,527 3,358 1,876 (112) 6,650
’23 (1,933) (2,639) 1,971 1,107 (1,494)
’22 917 (4,063) (1,485) (648) (5,279)
’21 (73) (1,234) (2,251) (3,618) (7,177)
’20 (1,406) (1,332) (1,409) (1,806) (5,954)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1,719 3,204 — — —
’25 2,529 371 2,351 (4,934) 317
’24 1,510 3,331 1,832 (165) 6,508
’23 (1,956) (2,678) 1,954 1,078 (1,602)
’22 905 (4,086) (1,509) (674) (5,364)
’21 (101) (1,256) (2,284) (3,638) (7,279)
’20 (1,452) (1,362) (1,445) (1,848) (6,107)
Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing −2.5% a year for ten years. It grew −13.2% a year over the last ten.

Implied
−2.5%
10 years, reported
−13.2%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.5
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 Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 2,040 3,557 2,396 4,221 4,231 16,226 5,704 14,499 21,879 19,464 21,309 +28.5% 11,932 12,373 13,967 (10.5%)
Gross margin, % 100.00 100.00 100.00 100.00 100.00 68.10 48.80 50.42 35.85 41.81 44.08 (58.2) pt
EBT 975 2,784 2,257 5,168 5,727 13,847 (292) 6,555 5,860 7,099 6,636 +24.7%
EBT margin, % 47.80 78.27 94.20 122.45 135.35 85.34 (5.12) 45.21 26.79 36.47 31.14 (11.3) pt
Net income 951 2,560 2,451 4,640 5,118 12,452 (418) 5,357 4,906 6,145 5,512 +23.0%
Per share, $
Per share, $ Revenue 4.54 7.60 4.66 7.74 7.52 27.87 7.61 16.71 24.67 21.86 23.79 +19.1%
Earnings 0.64 2.10 2.14 3.62 3.45 7.83 (0.79) 4.24 3.47 2.51 3.36 +16.4%
Cash flow (3.21) (7.54) (14.80) (10.42) (10.58) (12.33) (7.04) (1.72) 7.50 0.54 2.78 n/m
Capex (0.14) (0.21) (0.15) (0.38) (0.27) (0.18) (0.11) (0.12) (0.16) (0.18) (0.17) +2.7%
Free cash flow (3.35) (7.75) (14.95) (10.80) (10.85) (12.50) (7.16) (1.85) 7.34 0.36 2.61 n/m
Book value 36.72 42.82 47.19 55.96 72.49 99.71 73.67 66.59 68.09 88.64 86.40 +10.3%
Shares, m 449 468 514 545 563 582 750 867 887 890 892 +7.9%
Valuation, ×
Valuation, × P/E 24.35 10.15 9.05 8.06 11.91 9.49 0.00 19.18 41.90 50.59 29.34 18.5
P/S 3.48 2.91 4.36 3.77 5.39 2.67 6.13 4.86 6.00 5.83 4.14 4.5
P/B 0.44 0.53 0.44 0.53 0.58 0.76 0.65 1.22 2.17 1.49 1.18 0.9
EV/Sales 10.44 7.82 12.58 9.40 11.63 4.40 11.28 6.70 7.56 7.67 — 8.9
EV/FCF (14.15) (7.66) (3.92) (6.74) (8.06) (9.81) (11.99) (60.67) 25.43 470.94 — 37.3
Cash, $m
Cash, $m Operating cash flow (1,441) (3,532) (7,606) (5,682) (5,954) (7,177) (5,279) (1,494) 6,650 478 2,488 n/m
Capex (64) (98) (79) (207) (153) (102) (85) (108) (142) (161) (149) +10.8%
Free cash flow (1,505) (3,630) (7,685) (5,890) (6,107) (7,279) (5,364) (1,602) 6,508 317 2,340 n/m
Balance, $m
Balance, $m Working capital 1,256 312 279 571 2,283 (150,231) (158,070) (185,079) (227,262) (252,273) (252,779) n/m
Net debt 14,198 17,458 19,700 23,776 26,430 28,051 29,341 26,667 34,279 35,786 32,275 +10.8%
Shareholders’ equity 16,486 20,052 24,260 30,502 40,800 58,057 55,219 57,763 60,400 78,922 77,382 +19.0%
Returns, %
Returns, % ROA 0.52 2.32 2.27 3.53 2.77 2.69 (0.22) 1.24 0.91 0.58 0.75 +0.1 pt
ROIC 0.70 2.03 0.44 1.51 1.21 3.68 (0.15) 1.71 0.77 0.41 1.08 (0.3) pt
ROE 0.88 5.54 5.06 7.33 5.62 9.63 (1.06) 6.58 5.21 3.29 4.23 +2.4 pt
People
People Employees 1,200 1,184 1,301 1,384 1,583 3,238 4,150 4,490 4,834 5,043 — +17.3%
Revenue/emp, $m 1.70 3.00 1.84 3.05 2.67 5.01 1.37 3.23 4.53 3.86 — +9.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Business profile

Updated

KKR is a global investment firm that manages alternative investments, provides capital-markets services and operates an insurance business under the Global Atlantic brand. Founded in 1976, it began with leveraged buyouts and now invests across private equity, real assets, credit and liquid strategies.

The firm manages money for institutions and individual investors. Its investment teams select, buy, finance, manage and eventually sell or refinance investments. Private Equity takes controlling or influential stakes in companies; Real Assets invests in infrastructure, real estate and energy; and Credit and Liquid Strategies invests in corporate debt, asset-based finance, structured credit and hedge-fund partnerships.

KKR & Co. Inc. 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
BLK BlackRock $190.2B 26.3× 14.8× +19.10% (above 0%: growing) +25.53% (above 0%: growing) −12.31% (below 0%: shrinking) 100.00% 30.03% Compare
BX Blackstone Inc. $149.0B 26.8× 19.9× −0.83% (below 0%: shrinking) +3.75% (above 0%: growing) +125.08% (above 0%: growing) 100.00% 51.28% Compare
KKR KKR & Co. Inc. $88.2B 29.3× 13.9× +12.52% (above 0%: growing) +39.62% (above 0%: growing) +762.68% (above 0%: growing) 37.79% 6.89%
BAM Brookfield Asset Management Ltd. $85.9B 30.3× 22.8× +60.83% (above 0%: growing) +47.37% (above 0%: growing) +3.02% (above 0%: growing) 100.00% 65.83% Compare
APO Apollo Global Management Inc. $69.3B — (loss-making) 14.4× −51.76% (below 0%: shrinking) n/m +128.29% (above 0%: growing) 100.00% (29.25%) Compare
STT State Street Corporation $45.0B 13.3× 12.6× +5.36% (above 0%: growing) +32.86% (above 0%: growing) −75.12% (below 0%: shrinking) 66.12% 0.00% Compare
AMP Ameriprise Financial, Inc. $44.2B 11.3× 10.8× +6.80% (above 0%: growing) +31.68% (above 0%: growing) −33.84% (below 0%: shrinking) 100.00% 35.49% Compare
ARES Ares Management Corporation $44.2B 69.2× 22.4× −13.53% (below 0%: shrinking) −21.50% (below 0%: shrinking) −197.89% (below 0%: shrinking) 100.00% 19.87% Compare
NTRS Northern Trust Corporation $31.0B 13.4× 12.6× +3.27% (above 0%: growing) +48.70% (above 0%: growing) +366.41% (above 0%: growing) 62.08% 0.00% Compare
Median of peers $57.1B 26.3× 14.6× +4.32% +31.68% −4.64% 100.00% 24.95%

All 121 Asset Management stocks →

From the latest earnings call

Updated

  • Rob Lewin said KKR had $72 billion of committed asset-management capital not yet earning fees, with fees beginning upon investment or the investment period.
  • Rob Lewin said KKR is allocating less capital to insurance amid competition while retaining $6 billion of third-party dry powder for liability-side buying power.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 61.16%
Held by the ten largest 32.52%
Holder Shares Stake Change
Vanguard 61.68m 6.87% +903.55k
Capital Group 59.90m 6.67% −1.60m
BlackRock 45.19m 5.03% +568.25k
State Street 29.29m 3.26% +780.59k
Fidelity (FMR) 21.57m 2.40% +3.24m
Principal Financial 19.72m 2.20% +177.46k
Geode Capital Management 15.61m 1.74% +205.25k
Wellington Management 14.57m 1.62% −3.33m
Norges Bank 13.80m 1.54% +13.80m
MFS Investment Management 10.62m 1.18% −3.73m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 27 February 2026

Ownership

Directors and executive officers, together 23.20%
George R. Roberts 9.41%
Henry R. Kravis 9.11%
The Vanguard Group Inc. 6.31%
BlackRock, Inc. 5.04%
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

KKR & Co. Inc. (KKR) Latest News

28 Oct

Impact 3 · · Business Wire

27 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.
Impact 3 · · 24/7 Wall St.

26 Oct

Impact 3 · · Insider Monkey
Impact 3 · · Business Wire

23 Oct

Impact 3 · · Business Wire

22 Oct

Impact 4 · · Business Wire
Impact 3 · · Zacks

21 Oct

Impact 3 · · Business Wire

20 Oct

Impact 4 · · Investing.com

19 Oct

Impact 4 · · Business Wire

13 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.

12 Oct

Impact 4 · · Insider Monkey

9 Oct

Impact 4 · · Investing.com

8 Oct

Impact 3 · · Zacks

6 Oct

Impact 3 · · Benzinga

5 Oct

Impact 4 · · Investing.com
Impact 4 · · Business Wire

3 Oct

Impact 4 · · Insider Monkey

2 Oct

Impact 3 · · 24/7 Wall St.

1 Oct

Impact 4 · · Investing.com
Impact 3 · · CNW Group
Impact 3 · · PR Newswire

30 Sep

Impact 4 · · Simply Wall St.

29 Sep

Impact 3 ·

KKR metrics, ten years each

stockrow.com/KKR · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com