Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

KKR & Co.

KKR stock analysis · Financials · Asset Management & Custody Banks

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$91.78HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$82.4B

Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Reverse DCF

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Relative valuation

-48.7%

9 industry peers · median 18.8×

How this is calculated ↗
Valuation

Historical multiples

36.6×

3 annual observations · snapshot P/E 36.6× · 0.0% versus history

How this is calculated ↗
Valuation

Free cash flow yield

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Quality

ROIC / quality

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Value composite

Requires three valuation yields and at least five covered sector peers.

Requires three valuation yields and at least five covered sector peers.

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

13.9%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Momentum

Fundamental momentum

Requires two adjacent years of revenue, operating income and cash flow.

Requires two adjacent years of revenue, operating income and cash flow.

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 7.2B2020-12-31: cfo -$5,953,693,000.00 (negative; lower scale compressed)20202021-12-31: cfo -$7,176,708,000.00 (negative; lower scale compressed)20212022-12-31: cfo -$5,279,259,000.00 (negative; lower scale compressed)20222023-12-31: cfo -$1,493,812,000.00 (negative; lower scale compressed)20232024-12-31: cfo $6,649,878,000.0020242025-12-31: cfo $477,760,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%
10.0%
12.0%

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3119.5B6.1B477.8M410.1B
2024-12-3121.9B4.9B6.6B360.1B
2023-12-3114.5B5.4B-1.5B317.3B
2022-12-315.7B-417.6M-5.3B275.3B
2021-12-3116.2B12.5B-7.2B
2020-12-312B5.1B-6B79.8B
2019-12-311.8B4.6B-5.7B194.6M60.9B
2018-12-311.8B2.5B-7.6B102.7M50.7B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue19.5BRevenues2026-02-27
netIncome6.1BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-27
Parent/common earnings proxy2.3BNetIncomeLossAvailableToCommonStockholdersBasic2026-02-27
cfo477.8MNetCashProvidedByUsedInOperatingActivities2026-02-27
capexNot reported under a supported tag
operatingIncomeNot reported under a supported tag
assets410.1BAssets2026-02-27
equity78.9BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-27
Parent book equity proxy30.9BStockholdersEquity2026-02-27
debtNot reported under a supported tag
shortDebtNot reported under a supported tag
cash17.2BCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents2026-02-27
sharesNot reported under a supported tag
dividends649.9MPaymentsOfDividendsCommonStock2026-02-27
buybacks3.4MPaymentsForRepurchaseOfCommonStock2026-02-27
issuanceNot reported under a supported tag