Kohlberg Kravis Roberts (KKR)
NYSE:KKR
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KKR & Co
(NYSE:KKR)
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Rating:62Neutral
Price Target:
$101.00
â–¼(-2.51% Downside)
Action:Reiterated
Date:05/29/26
The score is primarily supported by solid current profitability and strong recent cash generation, reinforced by a strong earnings call showing broad-based fee growth, fundraising momentum, and shareholder returns (buybacks/dividend increase). Offsetting these positives are weak technicals (below key moving averages with negative MACD), a demanding valuation (high P/E and low yield), and a modest governance overhang from the failed supermajority-removal vote.
Positive Factors
Diversified, growing management fee base
A broad, growing management-fee base tied to multiple strategies supports recurring, predictable revenue. Diversification across private equity, real assets and credit reduces reliance on any single market cycle, improving revenue stability and allowing management to fund operations and invest through downturns.
Negative Factors
Elevated leverage and reporting uncertainty
Material leverage historically increases sensitivity to market and earnings swings and can strain flexibility during stress. The reporting discontinuity in TTM debt creates uncertainty about true leverage, complicating risk assessment for capital allocation and long-term solvency planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified, growing management fee base
A broad, growing management-fee base tied to multiple strategies supports recurring, predictable revenue. Diversification across private equity, real assets and credit reduces reliance on any single market cycle, improving revenue stability and allowing management to fund operations and invest through downturns.
Read all positive factors
KKR & Co Key Performance Indicators (KPIs)
Any
Assets Under Management
Indicates the total value of assets managed, reflecting the firm's ability to attract and retain investor capital, a key driver of fee-based revenue.
Indicates the total value of assets managed, reflecting the firm's ability to attract and retain investor capital, a key driver of fee-based revenue.
Data provided by:
The Fly
The FlyKKR & Co (KKR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$83.69B
Dividend Yield0.56%
Average Volume (3M)4.65M
Price to Earnings (P/E)28.0
Beta (1Y)1.72
Revenue Growth35.81%
EPS Growth27.22%
CountryUS
Employees4,834
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)3.15
Shares Outstanding897,872,900
10 Day Avg. Volume4,574,025
30 Day Avg. Volume4,654,935
Financial Highlights & Ratios
PEG Ratio-1.73
Price to Book (P/B)3.67
Price to Sales (P/S)5.89
P/FCF Ratio11.92
Enterprise Value/Market Cap1.57
Enterprise Value/Revenue6.59
Enterprise Value/Gross Profit15.78
Enterprise Value/Ebitda13.21
Forecast
1Y Price Target
$125.18Price Target Upside20.83% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)6.03
Revenue Forecast (FY)$11.45B
KKR & Co Business Overview & Revenue Model
Company Description
KKR & Co. Inc. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzan...
How the Company Makes Money
KKR primarily makes money from (1) fees earned for managing client capital, (2) performance-based income tied to investment gains, (3) investment income from its own balance sheet, and (4) earnings from its insurance operations.
1) Management fee...
KKR & Co Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call conveyed strong operating performance across multiple metrics (FRE, management fees, monetizations, fundraising, embedded gains) and decisive capital allocation actions (buybacks, Arctos acquisition, dividend increase), demonstrating resilience and durable earnings power. At the same time, management signaled caution around 2026 ANI guidance due to a more challenging near-term monetization environment, increased competition/tight spreads in insurance, software mark pressure, and short-term wealth/redemption noise. Overall the positives (broad-based fee growth, record monetizations and fundraising, sizable embedded gains, disciplined buybacks) substantially outweigh the near-term challenges.Positive Updates
Record Fee-Related Earnings and Profitability
Fee-related earnings (FRE) per share of $1.13, up 23% year-over-year; total operating earnings of $1.47 per share, up 18% YoY; adjusted net income (ANI) of $1.39 per share, up 20% YoY. FRE margin ~69% at March 31. Management described these as among the highest figures in firm history.
Negative Updates
ANI Guidance Uncertainty
2026 adjusted net income (ANI) target of $7+ per share (previously budgeted assuming a constructive monetization environment) is now more likely to land below that level due to a more challenging operating environment and reduced visibility on timing of monetizations. Management emphasized delayed monetizations would likely shift into 2027 rather than being lost permanently.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Fee-Related Earnings and Profitability
Fee-related earnings (FRE) per share of $1.13, up 23% year-over-year; total operating earnings of $1.47 per share, up 18% YoY; adjusted net income (ANI) of $1.39 per share, up 20% YoY. FRE margin ~69% at March 31. Management described these as among the highest figures in firm history.
Read all positive updates
Company Guidance
KKR reiterated confidence it will exceed targets for fundraising, strategic‑holdings operating earnings and FRE per share but said 2026 adjusted net income (ANI) is now more likely to land below the prior $7+ per‑share budgeted target given modestly less visibility on monetizations; Q1 highlights included FRE $1.13/sh (+23% YoY), total operating earnings $1.47/sh (+18% YoY), adjusted net income $1.39/sh (~$1.2B, +20% YoY), management fees $1.2B (+30% YoY; ex‑catch‑up ~>20%), transaction & monitoring fees $253M, capital markets fees $224M, fee‑related performance revenue $24M, FRE margin ~69%, fee‑related compensation ~17.5%, other operating expenses $195M, insurance segment operating earnings $260M (would be slightly north of $300M including marks) and strategic holdings OE $48M (tracking to $350+M in 2026); monetizations were ~$880M in Q1 (+50% YoY) with forward monetizations/signed deals >$1.2B, embedded gains $18.3B on $331B AUM (+11% YoY), direct lending $39B (5% AUM), private BDCs ~$3B (0.4% AUM), K‑Series AUM >$38B (up ~80% YoY), $28B raised in Q1 (credit $15B), North America 14 closed at $23B, repurchases $317M YTD at ~$91 avg with an added $500M authorization, and the annualized dividend was increased to $0.78.KKR & Co Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
62
Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 19.99B | 19.26B | 21.64B | 14.32B | 5.57B | 16.11B |
| Gross Profit | 8.35B | 8.06B | 3.84B | 4.86B | 2.01B | 6.90B |
| EBITDA | 9.97B | 7.13B | 9.17B | 9.50B | 1.35B | 14.98B |
| Net Income | 2.96B | 2.37B | 3.08B | 3.73B | -521.66M | 4.73B |
Balance Sheet | ||||||
| Total Assets | 412.08B | 410.14B | 360.10B | 317.29B | 275.35B | 264.29B |
| Cash, Cash Equivalents and Short-Term Investments | 9.32B | 6.16M | 112.56B | 108.57B | 12.82B | 10.09B |
| Total Debt | 54.85B | 54.77B | 50.82B | 49.39B | 44.07B | 39.59B |
| Total Liabilities | 331.28B | 328.51B | 298.11B | 258.92B | 219.98B | 206.15B |
| Stockholders Equity | 30.50B | 30.90B | 23.65B | 22.86B | 18.81B | 17.58B |
Cash Flow | ||||||
| Free Cash Flow | 6.89B | 9.52B | 6.51B | -1.60B | -5.36B | -7.28B |
| Operating Cash Flow | 7.06B | 9.68B | 6.65B | -1.49B | -5.28B | -7.18B |
| Investing Cash Flow | -9.97B | -13.06B | -19.05B | -3.88B | -13.65B | -9.61B |
| Financing Cash Flow | 3.94B | 5.01B | 7.08B | 12.77B | 22.06B | 20.36B |
KKR & Co Technical Analysis
Negative
103.60
Price Trends
97.17
Negative
99.40
Negative
114.14
Negative
Market Momentum
-1.36
Positive
43.97
Neutral
57.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KKR, the sentiment is Negative. The current price of 103.6 is above the 20-day moving average (MA) of 95.31, above the 50-day MA of 97.17, and below the 200-day MA of 114.14, indicating a bearish trend. The MACD of -1.36 indicates Positive momentum. The RSI at 43.97 is Neutral, neither overbought nor oversold. The STOCH value of 57.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KKR.
KKR & Co Risk Analysis
KKR & Co disclosed 1 risk factors in its most recent earnings report. KKR & Co reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
KKR & Co Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $161.99B | 24.70 | 11.52% | 1.92% | 22.84% | -3.04% | |
72 Outperform | $40.40B | 10.76 | 61.59% | 1.26% | 6.43% | 36.14% | |
70 Outperform | $139.48B | 29.29 | 36.16% | 3.02% | 17.79% | 17.92% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | $41.85B | 45.64 | 14.54% | 2.65% | 46.89% | 21.89% | |
62 Neutral | $83.69B | 28.05 | 9.92% | 0.56% | 35.81% | 27.22% | |
54 Neutral | $15.68B | 28.64 | 9.65% | 2.30% | -26.37% | -49.86% |
* Financial Sector Average
KKR
KKR & Co
93.21
-29.23
-23.87%
AMP
Ameriprise Financial
449.38
-61.88
-12.10%
BLK
BlackRock
994.77
26.23
2.71%
BX
Blackstone Group
114.19
-20.88
-15.46%
CG
Carlyle Group
43.57
-1.82
-4.00%
ARES
Ares Management
126.87
-39.84
-23.90%
KKR & Co Corporate Events
Business Operations and StrategyShareholder Meetings
KKR Fails to Remove Supermajority Voting Requirement
Negative
May 28, 2026
On May 21, 2026, KKR reconvened a special meeting of stockholders that had originally been held on April 21, 2026, to address a proposal to eliminate the supermajority voting requirement for amending certain provisions of its charter. While stockh...
Business Operations and StrategyShareholder Meetings
KKR Stockholders Approve Governance Amendments, Adjourn Vote
Neutral
Apr 24, 2026
On April 21, 2026, KKR Co. Inc. held a special meeting of stockholders at which investors approved several amendments to its certificate of incorporation and a proposal to allow adjournment. Stockholders backed changes making stockholder meetings...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.