BLK
BlackRock, Inc.
BLK offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
KKR
KKR & Co. Inc.
KKR has the edge over BLK overall, supported by stronger modeled upside and stronger valuation.
BLK Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
BLK's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BLK.
KKR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
KKR's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like KKR.
BLK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 19x | $848 | -30% |
| Fair | 22x | $973 | -20% |
| Expensive | 26x | $1,149 | -5.5% |
| Current | 28x | $1,217 | — |
Historical ranges are pointers, not guarantees.
BLK has the edge over KKR in the historical PE scenario, which offers more potential upside but is not a forecast.
KKR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.1x | $27.68 | -72% |
| Forward | 11x | $97.20 | — |
| Fair | 28x | $96.54 | -0.7% |
| Current | 28x | $97.20 | — |
| Expensive | 50x | $172 | +77% |
Historical ranges are pointers, not guarantees.
KKR's PE is in its fair range at 28x. If earnings grow as analysts expect, today's price would be 11x next year's earnings, in its cheap range.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
KKR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for KKR, with profitability improving. However, they disagree widely on these estimates.
BLK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $43.87 | +11% |
| Q2 2026 | $41.73 | -0.4% |
| Q1 2026 | $39.73 | -4.7% |
| Q4 2025 | $35.31 | -17% |
| Q3 2025 | $39.42 | -2.7% |
| Q2 2025 | $41.89 | +4% |
| Q1 2025 | $41.69 | +5.9% |
| Q4 2024 | $42.53 | +16% |
BLK has the edge over KKR on earnings, with more consistent year-over-year improvement.
KKR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.81 | +157% |
| Q3 2026 | $3.43 | +45% |
| Q2 2026 | $3.14 | +50% |
| Q1 2026 | $2.94 | +27% |
| Q4 2025 | $2.34 | -29% |
| Q3 2025 | $2.36 | -27% |
| Q2 2025 | $2.10 | -51% |
| Q1 2025 | $2.32 | -48% |
| Q4 2024 | $3.28 | -20% |
KKR's earnings per share have fallen from their peak: $3.43 over the past year, against $9.18 in late 2021.
BLK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $7.8B | +19% |
| Q2 2026 | $7.1B | +31% |
| Q1 2026 | $6.7B | +27% |
| Q4 2025 | $7B | +23% |
| Q3 2025 | $6.5B | +25% |
| Q2 2025 | $5.4B | +13% |
| Q1 2025 | $5.3B | +12% |
| Q4 2024 | $5.7B | +23% |
BLK has the edge over KKR on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | 0 points |
| Q2 2026 | 35% | +2.8 points |
| Q1 2026 | 42% | +9.8 points |
| Q4 2025 | 24% | -13 points |
| Q3 2025 | 30% | -8.6 points |
| Q2 2025 | 32% | -5.5 points |
| Q1 2025 | 32% | -3.6 points |
| Q4 2024 | 37% | +2.3 points |
BLK's operating margin was 30% last quarter, about level with the same quarter a year ago, near the bottom of its range since 2019.
KKR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.6B | -17% |
| Q2 2026 | $5.7B | +13% |
| Q1 2026 | $4.3B | +39% |
| Q4 2025 | $5.7B | +76% |
| Q3 2025 | $5.5B | +15% |
| Q2 2025 | $5.1B | +22% |
| Q1 2025 | $3.1B | -68% |
| Q4 2024 | $3.3B | -26% |
KKR's revenue is growing: $4.6B last quarter, down 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 33% | -6.7 points |
| Q2 2026 | 24% | -6 points |
| Q1 2026 | 11% | -14 points |
| Q4 2025 | 45% | -5.1 points |
| Q3 2025 | 40% | +5.5 points |
| Q2 2025 | 30% | +1 points |
| Q1 2025 | 25% | +11 points |
| Q4 2024 | 50% | +8.1 points |
KKR has the edge over BLK on profitability, with a higher operating margin.
BLK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.6B | +95% |
| Q2 2026 | $1.1B | -12% |
| Q1 2026 | -$1.1B | +$120M |
| Q4 2025 | $2.1B | -15% |
| Q2 2025 | $1.3B | -6.1% |
| Q1 2025 | -$1.2B | -$734M |
| Q4 2024 | $2.5B | +35% |
| Q2 2024 | $1.4B | +47% |
BLK has the edge over KKR on cash flow, with more consistent year-over-year improvement.
KKR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.1B | -10% |
| Q2 2026 | $3.3B | +641% |
| Q1 2026 | $1.7B | -31% |
| Q4 2025 | -$4.9B | -$4.8B |
| Q3 2025 | $2.4B | +27% |
| Q2 2025 | $438.8M | -87% |
| Q1 2025 | $2.5B | +67% |
| Q4 2024 | -$111.7M | -110% |
KKR's free cash flow was $2.2B over the past year, down 57% from the year before. Free cash flow isn't a meaningful measure for financial services companies like KKR.
BLK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -148K shares |
| 1 year | -0.4% | -677K shares |
| 3 years | +9.3% | +14M shares |
| 5 years | +6.2% | +9.6M shares |
| Available history | +4.4% | +7M shares |
BLK has the edge over KKR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2025 | $396M |
| Q1 2025 | $657M |
| Q4 2024 | $386M |
| Q2 2024 | $519M |
| Q1 2024 | $634M |
| Q4 2023 | $384M |
| Q3 2023 | $396M |
| Q2 2023 | $383M |
KKR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -5.5M shares |
| 1 year | +0.1% | +786K shares |
| 3 years | +0.8% | +7.1M shares |
| 5 years | +53% | +307M shares |
| Available history | +58% | +326M shares |
KKR has 892M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $143.1M |
| Q2 2026 | $42M |
| Q1 2026 | $191.2M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q4 2023 | — |
KKR spent $376M buying back its own shares over the past year.
BLK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.0x | Net Cash |
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2024 | 0.2x | Very low |
| Q1 2024 | 0.3x | Very low |
| Q4 2023 | 0.1x | Very low |
BLK has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like BLK.
KKR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -3.7x | Net Cash |
| Q2 2026 | -3.1x | Net Cash |
| Q1 2026 | -2.8x | Net Cash |
| Q4 2025 | -2.4x | Net Cash |
| Q3 2025 | -3.6x | Net Cash |
| Q2 2025 | -3.1x | Net Cash |
| Q1 2025 | -3.4x | Net Cash |
| Q4 2024 | -2.6x | Net Cash |
KKR has the edge over BLK on leverage, with a lower net debt burden relative to earnings.
BLK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.5 | Neutral |
| Stochastic | 79.0 | Neutral |
BLK's weekly RSI is 64 (neutral) and its Stochastic is 79 (neutral).
KKR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.4 | Neutral |
| Stochastic | 36.5 | Neutral |
KKR's weekly RSI is 48 (neutral) and its Stochastic is 36 (neutral).
BLK PE vs Financial Services Sector
| Metric | BLK | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 13x | 113% above |
| PE % | 97 | 63 | 34 pts above |
BLK has the edge over KKR on valuation relative to its sector.
KKR PE vs Financial Services Sector
| Metric | KKR | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 13x | 118% above |
| PE % | 50 | 63 | 13 pts below |
KKR is trading at 28x earnings, a 118% premium to the Financial Services sector's median of 13x.
BLK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,128.0 | 7.9% above |
| 20 week MA | $1,108.9 | 9.7% above |
| 50 week MA | $1,071.6 | 14% above |
| 100 week MA | $1,051.1 | 16% above |
| 200 week MA | $914.1 | 33% above |
BLK has the edge over KKR on trend strength, trading above more of its moving averages.
KKR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $92.9 | 4.6% above |
| 20 week MA | $98.9 | 1.7% below |
| 50 week MA | $102.9 | 5.5% below |
| 100 week MA | $116.9 | 17% below |
| 200 week MA | $101.7 | 4.4% below |
KKR has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 4.4% below its 200-week average.
BLK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $503.0 | $707.2 | +41% |
| 2021 | $707.2 | $913.9 | +29% |
| 2022 | $913.9 | $703.9 | -23% |
| 2023 | $703.9 | $811.8 | +15% |
| 2024 | $811.8 | $1,044.2 | +29% |
| 2025 | $1,044.2 | $1,088.1 | +4.2% |
| 2026 YTD | $1,088.1 | $1,216.6 | +12% |
BLK has the edge over KKR on returns for 2026, with the stronger performance.
KKR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.2 | $39.8 | +37% |
| 2021 | $39.8 | $75.7 | +90% |
| 2022 | $75.7 | $46.9 | -38% |
| 2023 | $46.9 | $82.9 | +77% |
| 2024 | $82.9 | $149.9 | +81% |
| 2025 | $149.9 | $130.4 | -13% |
| 2026 YTD | $130.4 | $97.2 | -25% |
KKR has finished higher in four of the last six years, three of them by more than 50%. It's down 25% so far in 2026.