KKR (KKR)
Financials · $88.4B market cap · SEC CIK 0001404912
fundamentals score out of 100
Next reports on Nov 5, 2026, before the open, with analysts expecting $1.63 in earnings per share.
The case for KKR
- Revenue up 30.5% on the year.
- Earnings per share up 54.5%.
- A PEG of 0.51: a P/E of 28.0× is low for EPS growing 55%.
- Has compounded revenue at 35.2% a year over five years.
The case against
- Down 32.3% over the past year.
- Swings harder than the market (beta 1.74).
- Value is weak (40/100): 28.0× earnings, 3.9× sales.
- Profitability is weak (39/100): return on equity 10%, net margin 13.9%, gross margin 40%.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 40 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 94 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 39 |
| Momentumhow the price has behaved lately | 32 |
| Stabilityhow violently it moves, what it owes and what it pays you | 26 |
- Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
- Each factor except momentum is half fixed thresholds, half rank among the 74 Financials companies.
Key numbers
| Price / earnings | 28.0× |
|---|---|
| Price / book | 2.65× |
| Price / sales | 3.9× |
| Revenue growth (YoY) | +30.5% |
| EPS growth (YoY) | +54.5% |
| Gross margin | 40% |
| Operating margin | 9% |
| Net margin | 14% |
| Return on equity | 10% |
| Debt / equity | 1.74× |
| Current ratio | 0.38 |
| Dividend yield | 0.95% |
| Beta | 1.74 |
| 52-week range | $82.67 – $152.10 |
| Position in that range | 23% of the way up |
| 3-month return | +3.9% |
| 1-year return | -32.3% |
Five years of financials, as filed
Pulled from KKR's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $19.5B | $21.9B | $14.5B | $5.7B | $16.2B |
| Net income | $2.4B | $3.1B | $3.7B | -$522M | $4.7B |
| Operating cash flow | $478M | $6.6B | -$1.5B | -$5.3B | -$7.2B |
| Total assets | $410B | $360B | $317B | $275B | — |
| Total liabilities | $329B | $298B | $259B | $220B | — |
| Shareholder equity | $30.9B | $23.7B | $22.9B | $18.8B | $17.6B |
| Cash | $17.2B | $15.4B | $20.8B | $13.4B | $10.5B |
| Long-term debt | — | — | — | — | $36.9B |
| Net margin | 12.2% | 14.1% | 25.7% | -9.1% | 29.2% |
What KKR says it does
—Business Segments—Asset Management — Investment Vehicle Structures, Fee Arrangements and Carried Interest" for a summary of such conditions. Even after all conditions are met, the general partner of a carry paying fund may decide to defer the distribution of carried interest to it to a later date. Carried interest payments depend on our investment vehicles’ performance and opportunities for realizing gains, which may be limited. It typically takes a substantial period of time to: (i) identify attractive investment opportunities, (ii) raise all the funds needed to make an investment, and (iii) then to realize the cash value of an investment through a sale, public offering or other exit to generate carried interest proceeds. To the extent an investment is not profitable, no carried interest will be received from our investment vehicles with respect to that investment and, to the extent such investment remains unprofitable, we will only…
Risk factors KKR lists in its 10-K
- Difficult market and economic conditions can, and periodically do, materially and adversely affect KKR
- Global, regional and local events outside of our control, including geopolitical events and natural
- disasters, could materially and adversely impact KKR
- The loss of key personnel or their services, or any misconduct by key personnel, could have a material
- Our reliance on third parties in the operation of our business exposes us to operational, reputational
- Disruptions in our technology infrastructure or the occurrence of other operational errors could
- materially and adversely affect our business
- The failure to effectively manage our balance sheet could materially and adversely affect our financial
- condition and results of operations
- The failure to manage, or the inability to access, adequate sources of liquidity could materially and
- Our capital markets activities expose us to material risks
- The failure to manage our financial and enterprise risks could materially and adversely affect our
- financial condition and results of operation
- We may suffer material harm as a result of legal claims, litigations, investigations, and negative