KKR & Co. Inc. (KKR) stock analysis
Close on Nov 13, 2026Market cap $88.01BP/E –Yield 0.74%
StockData Score
Prices as of Nov 13, 2026How the score works
Mixed14 of 30 checks passed
KKR passes 14 of the 30 checks behind our score; 8 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 2/6
- Growth
- 3/6
- Past performance
- 3/6
- Financial health
- 4/6
- Dividend
- 2/6
What stands out
Trading below fair value
The share price of $98.05 is below our fair value estimate of $108.75.
No debt
KKR has no borrowings on its latest balance sheet.
Earnings grew over 5 years
Net income grew 3.4% a year on average over the last five fiscal years.
Revenue growing 10%+ a year
Revenue grew 50.6% a year over the last three fiscal years.
What to watch
Margin of safety under 20%
The price is 9.8% below fair value, less than the 20% cushion we look for.
Return on equity under 15%
Return on equity was 11.4% over the last twelve months and averaged 13.4% over five years; we look for 15% on both.
Elevated bankruptcy risk
The Altman Z-score is 0.26; above 3 is the safe zone and below 1.8 the distress zone.
Dividend was cut
The dividend per share fell by more than 10% at least once in the last 9 fiscal years.
Valuation2/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA above its 5-year median
KKR's EV/EBITDA of 19.6 is above its 5-year median of 13.9.
P/B below the industry
KKR's price-to-book of 2.91 is below the Services Allied with the Exchange of Securities median of 3.65.
Trading below fair value
The share price of $98.05 is below our fair value estimate of $108.75.
Margin of safety under 20%
The price is 9.8% below fair value, less than the 20% cushion we look for.
Growth3/6
Revenue growing 10%+ a year
Revenue grew 50.6% a year over the last three fiscal years.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings growth accelerating
Net income grew 45.2% over the last twelve months, against a 5-year average of 3.4% a year.
Growing faster than the industry
Revenue grew 19.8% over the last twelve months; the Services Allied with the Exchange of Securities median is 8.7%.
Guidance unchanged
The latest outlook (2030 Strategic Holdings Operating Earnings, May 5, 2026) was maintained, so it neither adds nor takes away points.
Gross margin trend
This company does not report gross profit.
Past performance3/6
Return on equity under 15%
Return on equity was 11.4% over the last twelve months and averaged 13.4% over five years; we look for 15% on both.
Return on invested capital
Needs operating income and invested capital.
Return on equity below the industry
KKR's return on equity of 11.4% is below the Services Allied with the Exchange of Securities median of 15.7%.
Earnings grew over 5 years
Net income grew 3.4% a year on average over the last five fiscal years.
Net margin above its 5-year average
Net margin was 16.8% over the last twelve months, against a 5-year average of 14.4%.
Net margin above the industry
KKR's net margin of 16.8% is above the Services Allied with the Exchange of Securities median of 15.7%.
Financial health4/6
No debt
KKR has no borrowings on its latest balance sheet.
Debt not rising
With no debt today, leverage cannot have risen.
Debt covered by cash flow
There is no debt to cover.
Interest well covered
No meaningful interest expense to cover.
Short-term liquidity
The balance sheet is not split into current and non-current items.
Elevated bankruptcy risk
The Altman Z-score is 0.26; above 3 is the safe zone and below 1.8 the distress zone.
Dividend2/6
Pays a dividend
KKR paid dividends worth 0.8% of the share price over the last twelve months.
Yield below Treasuries
The 0.8% yield is below the 4.7% on a 1-year Treasury.
Yield below the top quarter
The top quarter of US dividend payers yield 3.8% or more; KKR yields 0.8%.
Dividend was cut
The dividend per share fell by more than 10% at least once in the last 9 fiscal years.
Covered by earnings
Dividends take 19.9% of net income.
Cash-flow cover
Needs dividends paid and free cash flow.
Fair value
How we estimate itOur estimate per share
$108.75
The share price is 10% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| EV/EBITDA | 12.9× | 13.9× | 11.9× | $107.24 | 78% |
| P/B | 3.4× | 3.1× | 3.7× | $114.01 | 22% |
| Earnings powerleft out, too far from the others | 13.4% cost of equity | – | – | $16.37 | – |
| Fair value | $108.75 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- EV/EBITDA at month end
- Own 5-year median 13.9
- Services Allied with the Exchange of Securities median 11.9
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $500.86M
- Value traded per 1% price move
- $252.65M
Downside
Medium risk
- Typical loss in a bad month
- 22.8%
- Volatility (annualized)
- 39%
- Sharpe ratio, 1 year
- -0.64
- Beta to the S&P 500 (5Y)
- 1.66
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2011 to 2025
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -11.0% | +50.6% | +35.7% | – | |
| Net income | -22.9% | – | +3.4% | +17.1% | |
| Dividend per share | +5.8% | +6.2% | +6.6% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 16.3% | 8.7% | |
| Return on assets | 0.6% | 2.8% | 0.6% | |
| Capex to revenue | 3.1% | – | – |
Cash use needs five years of cash flow figures
KKR does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 12.2% | 0.05× | 14.12× | 8.7% |
| FY2024 | 14.1% | 0.06× | 14.56× | 13.2% |
| FY2023 | 25.7% | 0.05× | 14.22× | 17.9% |
| FY2020 | 47.3% | 0.06× | 5.74× | 16.3% |
| FY2019 | 47.5% | 0.08× | 5.74× | 20.6% |
| FY2018 | 47.2% | 0.05× | 6.10× | 14.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$2.37B
- Cash generatingOperating cash flow above zero$477.76M
- Return on assets improvedROA up on the prior year1.0% → 0.7%
- Earnings backed by cashOperating cash flow above net income$477.76M vs $2.37B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.07 → 0.05
See a number that looks wrong?