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Earnings transcript
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KKR
KKR & Co. Inc.
$110.48
1.98
(1.82%)
| Exchange: | NYSE |
| Market Cap: | 99.197B |
| Shares Outstanding: | 204.902M |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Asset Management | |||||
| CEO: | Joseph Y. Bae | |||||
| Full Time Employees: | 5043 | |||||
| Address: |
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| Website: | https://www.kkr.com |
KKR & Co. Inc. is a prominent global investment powerhouse, deeply engaged in both private equity and real estate. The firm’s diverse investment strategies encompass direct capital deployment as well as fund-of-funds approaches, specializing in corporate acquisitions, leveraged and management buyouts, growth equity, and a range of special situations including credit, distressed assets, and turnarounds. They also target mature and mezzanine financing opportunities, spanning companies across the lower and middle market segments. While opportunistic across all industries, KKR exhibits a keen focus on technology sectors, including software, cybersecurity, semiconductors, consumer electronics, the Internet of Things (IoT), internet services, IT infrastructure, and FinTech. Their extensive portfolio also encompasses energy, infrastructure, and a broad array of real estate ventures. Furthermore, the firm actively invests in a wide range of service industries, such as business services, intelligence, and leading franchises in natural resources, containers, packaging, agriculture, transportation infrastructure (airports, ports), forestry, utilities, textiles, luxury goods, digital media, insurance, various distribution and retail formats (including supermarkets and grocery stores), food, beverage, tobacco, healthcare facilities, entertainment, publishing, capital goods, and specialized financial services. Specifically within energy and infrastructure, KKR targets upstream oil and gas operations, equipment, minerals, royalties, and related service verticals. In the real estate domain, the firm pursues investments in both private and public securities, covering property equity, debt, special situations, companies with substantial real estate assets, and oil and natural gas properties. Additionally, they allocate capital to the expansive asset services sector, which includes a wide range of B2B, B2C, and B2G offerings such as asset-based services, transport, logistics, hospitality, resource and utility support, and mission-critical environmental services. KKR’s geographic investment strategies often feature tailored sector focuses. In the Americas, key interests lie in consumer products, chemicals, metals, mining, energy, natural resources, financial services, healthcare, industrials, media, communications, retail, and technology. European investments concentrate on consumer and retail, energy, financial services, healthcare, industrials, chemicals, media, digital, and telecom technologies. Across Asia, their portfolio interests span consumer products, energy, resources, financial services, healthcare, industrials, logistics, media, telecom, retail, real estate, and technology. Beyond traditional investments, KKR is also committed to impact investing, identifying and backing enterprises with a demonstrably positive social or environmental footprint. In Mainland China, the firm actively targets mid to high-end residential developments, and undertakes other projects through direct ownership, joint ventures, or mergers. Demonstrating a truly global reach, KKR’s investment activity spans Australia, developed and emerging markets across Asia (including Southeast Asia, Japan, Taiwan, India, Vietnam, Malaysia, Singapore, Indonesia, and South Korea), the Middle East, Africa, the Nordics, Ireland, France, Germany, the Netherlands, the United Kingdom, the Caribbean, Mexico, Brazil, the broader Latin America, and North America, with a particular focus on the United States. In the United States and Europe, KKR frequently engages in buyouts of substantial publicly traded companies. The typical investment size ranges from $30 million to $717 million, targeting entities with enterprise values between $500 million and $2.389 billion. The firm is flexible, participating in both debt and public equity instruments, and often co-invests with strategic partners. KKR actively pursues board representation in its portfolio companies, aiming for controlling ownership or significant strategic minority stakes, especially in Asian private equity deals or when forming large investor consortia. Investments are generally held for a duration of five to seven years, or longer, with exit strategies commonly involving initial public offerings (IPOs), secondary market sales, or divestments to strategic purchasers. Founded in 1976, KKR & Co. Inc. is headquartered in New York, New York, supported by a global network of offices throughout North America, Europe, Australia, Sweden, and Asia.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 14,322,870 | 21,640,288 | 19,261,806 |
| Gross Profit | 4,860,651 | 3,841,876 | 8,055,030 |
| EBITDA | 9,500,580 | 9,166,347 | 7,125,326 |
| Operating Income | 2,138,148 | 926,197 | 461,956 |
| Net Income | 3,732,261 | 3,076,245 | 2,370,463 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 317,294,194 | 360,099,411 | 0 |
| Total Liabilities | 258,915,282 | 298,114,719 | -75,401,955 |
| Total Stockholders Equity | 22,858,694 | 23,651,568 | 75,401,955 |
| Total Debt | 49,387,579 | 50,816,440 | 0 |
| Cash and Cash Equivalents | 20,348,567 | 14,878,493 | 0 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | -1,493,812 | 6,649,878 | 0 |
| Capital Expenditure | -108,393 | -141,536 | 0 |
| Free Cash Flow | -1,602,205 | 6,508,342 | 0 |
| Net Income | 5,357,086 | 4,906,037 | 2,370,463 |
| Net Change in Cash | 7,422,750 | -5,440,167 | -15,367,953 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 9,118,509.558 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 10,212,746.596 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 9,737,974.500 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 4,793,865.753 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 5,369,137.998 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 5,119,536.495 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 8,514,896.467 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 9,870,876.712 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 9,282,541.375 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 1,789,824.204 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 2,004,606.228 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 1,911,415.714 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 9.710 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 10.330 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 8.910 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 1 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 1 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates KKR intrinsic value between $90.90 – $102.00 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
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Common questions about KKR valuation
Is KKR & Co. Inc. (KKR) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for KKR & Co. Inc. (KKR) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is KKR a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether KKR trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is KKR’s P/E ratio?
You can see KKR’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for KKR?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is KKR a good long-term investment?
Whether KKR fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
KKR
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Daily snapshot
1.82
Trading Metrics:
| Open: | 108.91 | Previous Close: | 108.5 | |
| Day Low: | 108.37 | Day High: | 111.12 | |
| Year Low: | 82.67 | Year High: | 152.1 | |
| Price Avg 50: | 100.78 | Price Avg 200: | 106.09 | |
| Volume: | 749191 | Average Volume: | 4.681M |
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