KKR
KKR & Co. Inc.
KKR's fundamentals are mixed: revenue grew 20%, but its operating margin fell 7 points to 29%. At 28x earnings, it's trading right at its usual valuation. Analysts expect strong earnings growth, though they disagree widely on how much.
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.
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.
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.
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.
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's operating margin was 33% last quarter, down 6.7 points from the same quarter a year ago.
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.
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.
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 more cash than debt. Net leverage isn't a meaningful measure for financial services companies like KKR.
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).
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.
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.
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.