Kennedy-Wilson Holdings Inc. (KW)
NYSE:KW
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Kennedy-Wilson
(NYSE:KW)
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Rating:51Neutral
Price Target:
$11.00
▲(40.85% Upside)
Action:Reiterated
Date:05/30/26
The score is held back primarily by elevated leverage and weak cash-flow consistency (including negative TTM free cash flow), despite improved recent profitability. Technically, the stock shows a constructive uptrend with moderate momentum, while valuation is mixed (good yield but a higher P/E). The recent debt financing/merger-related events are moderately supportive strategically but also highlight higher funding costs.
Positive Factors
Diversified revenue streams
Kennedy-Wilson's mix of rental income, development gains, asset-management fees, financing returns and JV economics provides durable, multi-channel cash generation. This reduces reliance on a single cycle and supports steady operating cash through different real estate market phases.
Negative Factors
Elevated leverage
Sustained high leverage limits financial flexibility, raises refinancing and interest-rate sensitivity, and magnifies downside if property cash flows or valuations slip. This structural debt burden increases probability of stressed liquidity under adverse market conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified revenue streams
Kennedy-Wilson's mix of rental income, development gains, asset-management fees, financing returns and JV economics provides durable, multi-channel cash generation. This reduces reliance on a single cycle and supports steady operating cash through different real estate market phases.
Read all positive factors
Kennedy-Wilson (KW) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.54B
Dividend Yield4.96%
Average Volume (3M)1.04M
Price to Earnings (P/E)25.8
Beta (1Y)0.63
Revenue Growth-6.38%
EPS GrowthN/A
CountryUS
Employees244
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.12
Shares Outstanding139,303,270
10 Day Avg. Volume991,044
30 Day Avg. Volume1,035,850
Financial Highlights & Ratios
PEG Ratio-5.68
Price to Book (P/B)0.87
Price to Sales (P/S)2.66
P/FCF Ratio4.27
Enterprise Value/Market Cap4.04
Enterprise Value/Revenue12.67
Enterprise Value/Gross Profit68.26
Enterprise Value/Ebitda13.69
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.56
Revenue Forecast (FY)$379.30M
Kennedy-Wilson Business Overview & Revenue Model
Company Description
Kennedy-Wilson Holdings, Inc., together with its subsidiaries, operates as a real estate investment company. The company owns, operates, and invests in real estate both on its own and through its investment management platform. It focuses on multi...
How the Company Makes Money
KW generates earnings from multiple real-estate-related sources tied to owning, operating, financing, and recycling capital in property investments. Key revenue streams include: (1) Rental and property operating income: recurring revenue from leas...
Kennedy-Wilson Earnings Call Summary
Earnings Call Date:Nov 05, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call highlighted significant growth in investment management and capital deployment, as well as the strategic acquisition of Toll Brothers' platform, indicating strong future prospects. However, challenges such as GAAP EPS loss, declines in European office portfolio performance, and flat NOIs in the affordable portfolio were noted. Overall, the positive aspects slightly outweigh the negatives.Positive Updates
Investment Management Growth
Assets under management (AUM) grew to $31 billion, marking an 11% increase year-over-year. Fee-bearing capital grew by 10% from the previous year.
Negative Updates
GAAP EPS Loss
Reported a loss of $0.15 per share in Q3, compared to a loss of $0.56 per share in the same quarter last year.
Read all updates
Q3-2025 Updates
Positive
Negative
Investment Management Growth
Assets under management (AUM) grew to $31 billion, marking an 11% increase year-over-year. Fee-bearing capital grew by 10% from the previous year.
Read all positive updates
Company Guidance
During the Kennedy-Wilson Third Quarter 2025 Earnings Conference Call, the company reported significant progress in expanding its investment management platform and executing its noncore asset sale plan. Key financial metrics showed improvement, with adjusted EBITDA reaching $125 million in Q3, almost doubling from $66 million the previous year, and a year-to-date increase of 6% to $371 million. Assets under management grew by 11% year-over-year to $31 billion, while fee-bearing capital increased by 10% to $9.7 billion. The company deployed approximately $900 million in Q3, focusing on rental housing-related credit and equity investments, with credit originations totaling $2.6 billion for the year. Kennedy-Wilson's strategic moves included the acquisition of Toll Brothers Apartment Living platform, adding $5 billion to assets under management and expanding its national rental housing platform to over 90,000 units. The company also achieved $470 million in cash generation from asset sales, surpassing its annual target. The balance sheet was strengthened by the repayment of $352 million in unsecured bonds, with the debt structure now 96% fixed or hedged.Kennedy-Wilson Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
38
Negative
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 489.90M | 501.00M | 531.40M | 562.60M | 540.00M | 453.60M |
| Gross Profit | 90.90M | 94.10M | 77.20M | 56.50M | 13.50M | -24.40M |
| EBITDA | 453.40M | 410.00M | 385.90M | 80.30M | 531.80M | 821.30M |
| Net Income | 59.20M | 4.70M | -33.00M | -303.80M | 93.70M | 330.40M |
Balance Sheet | ||||||
| Total Assets | 6.85B | 6.62B | 6.96B | 7.71B | 8.27B | 7.88B |
| Cash, Cash Equivalents and Short-Term Investments | 184.60M | 184.50M | 217.50M | 313.70M | 439.30M | 524.80M |
| Total Debt | 4.85B | 4.51B | 4.78B | 5.30B | 5.59B | 5.43B |
| Total Liabilities | 5.29B | 5.05B | 5.33B | 5.91B | 6.26B | 6.07B |
| Stockholders Equity | 1.52B | 1.54B | 1.60B | 1.76B | 1.96B | 1.78B |
Cash Flow | ||||||
| Free Cash Flow | -33.80M | 312.40M | -76.50M | -168.30M | -128.00M | -169.50M |
| Operating Cash Flow | 34.50M | 379.00M | 55.10M | 48.90M | 32.90M | -30.30M |
| Investing Cash Flow | 570.80M | 158.50M | 414.20M | -11.70M | -361.60M | -1.04B |
| Financing Cash Flow | -769.40M | -560.30M | -565.50M | -164.80M | 264.20M | 632.00M |
Kennedy-Wilson Technical Analysis
Positive
7.81
Price Trends
10.91
Positive
10.55
Positive
9.57
Positive
Market Momentum
0.04
Positive
58.18
Neutral
61.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KW, the sentiment is Positive. The current price of 7.81 is below the 20-day moving average (MA) of 10.99, below the 50-day MA of 10.91, and below the 200-day MA of 9.57, indicating a bullish trend. The MACD of 0.04 indicates Positive momentum. The RSI at 58.18 is Neutral, neither overbought nor oversold. The STOCH value of 61.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KW.
Kennedy-Wilson Risk Analysis
Kennedy-Wilson disclosed 42 risk factors in its most recent earnings report. Kennedy-Wilson reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Kennedy-Wilson Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $1.07B | -1,837.81 | -0.10% | 1.80% | 9.77% | 91.22% | |
62 Neutral | $320.01M | 528.35 | 0.08% | ― | -5.43% | -93.40% | |
58 Neutral | $448.58M | 472.97 | 0.22% | ― | 2.83% | -86.31% | |
51 Neutral | $1.54B | 25.78 | 3.85% | 4.96% | -6.38% | ― |
* Real Estate Sector Average
KW
Kennedy-Wilson
11.01
5.03
84.11%
MMI
Marcus & Millichap
28.24
-0.26
-0.91%
FRPH
FRP Holdings
23.11
-3.96
-14.63%
RMAX
Re/Max Holdings
9.54
2.24
30.68%
Kennedy-Wilson Corporate Events
M&A TransactionsPrivate Placements and Financing
Kennedy-Wilson Subsidiary Completes $1.8 Billion Note Offering
Positive
May 29, 2026
On May 29, 2026, Kennedy-Wilson, Inc., a wholly owned subsidiary of Kennedy-Wilson Holdings, completed a $1.8 billion private offering of senior notes, split between $1.1 billion of 7.000% notes due 2031 and $700 million of 7.250% notes due 2033, ...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Kennedy-Wilson Launches Tender Offer Amid Take-Private Merger
Neutral
May 15, 2026
On May 15, 2026, Kennedy-Wilson, Inc. launched a cash tender offer to purchase any and all of its outstanding 5.000% senior notes due 2031 at 101% of principal plus accrued interest, under the fundamental change provisions tied to the proposed mer...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Kennedy-Wilson Prices $1.8 Billion Senior Notes Offering
Positive
May 14, 2026
On May 14, 2026, Kennedy‑Wilson, Inc., a wholly owned subsidiary of Kennedy‑Wilson Holdings, announced pricing for a $1.8 billion private senior notes offering, split between $1.1 billion of 7.000% notes due 2031 and $700 million of 7....
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Kennedy-Wilson Launches $1.8 Billion Senior Notes Offering
Positive
May 12, 2026
On May 12, 2026, Kennedy-Wilson, Inc., a wholly owned subsidiary of Kennedy-Wilson Holdings, launched a $1.8 billion private offering of senior notes due 2031 and 2033, targeted at qualified institutional buyers and certain non-U.S. investors. The...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Kennedy-Wilson Ends Debt Exchange; Confirms Pending Takeover
Neutral
Mar 31, 2026
On March 30, 2026, Kennedy-Wilson, Inc., a subsidiary of Kennedy-Wilson Holdings, terminated its previously announced exchange offers for its 4.750% senior notes due 2029 and 2030 and 5.000% senior notes due 2031, which were to be swapped into hig...
M&A TransactionsRegulatory Filings and Compliance
Kennedy-Wilson Tightens Shareholder Approval Terms for Merger
Neutral
Mar 16, 2026
On February 16, 2026, Kennedy-Wilson Holdings, Inc. agreed to be acquired through a merger in which Kona Merger Subsidiary, Inc. will merge into Kennedy Wilson, leaving Kennedy Wilson as a wholly owned subsidiary of Kona Bidco, LLC. On March 15, 2...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Kennedy-Wilson Launches Exchange Offers Ahead of Buyout
Neutral
Mar 2, 2026
On March 2, 2026, Kennedy-Wilson, Inc. launched exchange offers targeting all of its outstanding 4.750% senior notes due 2029 and 2030 and 5.000% senior notes due 2031, allowing eligible institutional and non-U.S. holders to swap into new senior n...
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.