Kkr & Co Inc Financials

KKR

FY2025 annual

Revenue $19.5B -11.0% YoY

Net Income $2.4B -22.9% YoY

EPS (Diluted) Not reported for FY2025

Free Cash Flow Not reported for FY2025

Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

Kkr & Co Inc (KKR) reported $19.5B in revenue for fiscal year 2025, down 11.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI KKR FY2025 2026-08-15

A liability-heavy balance sheet funds large capital deployment, while weaker cash conversion makes reported earnings less dependable.

Cash conversion deteriorated faster than earnings: from FY2024 to FY2025, net income declined 22.9% while operating cash flow fell 92.8%, leaving profit far less supported by cash.

Assets expanded 13.9% and equity expanded 30.7% from FY2024 to FY2025, so the equity base grew faster than the asset pool and mechanically improved loss-absorption capacity. Reported debt-to-equity still stood at 10.6x versus 12.6x previously, meaning leverage moderated without turning the structure into an equity-funded balance sheet.

Investment cash outflows reached $16.3B, far above operating cash flow of $478M, so annual operations supplied little of the cash required for deployment. Financing inflows of $17.4B filled that gap, making external funding—not recurring operating cash—the dominant source of FY2025 investment activity.

Financial Health Signals

Financial health score not available

Kkr & Co Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

2/6

Kkr & Co Inc passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality

0.20x

For every $1 of reported earnings, Kkr & Co Inc generates $0.20 in operating cash flow ($477.8M OCF vs $2.4B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$19.5B

YoY-11.0%

5Y CAGR+35.7%

Kkr & Co Inc generated $19.5B in revenue in fiscal year 2025. This represents a decrease of 11.0% from the prior year.

Net Income

$2.4B

YoY-22.9%

5Y CAGR+3.4%

10Y CAGR+17.1%

Kkr & Co Inc reported $2.4B in net income in fiscal year 2025. This represents a decrease of 22.9% from the prior year.

EBITDA

Not reported for fiscal year 2025.

EPS (Diluted)

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$17.2B

YoY+11.6%

5Y CAGR+26.2%

10Y CAGR+32.3%

Kkr & Co Inc held $17.2B in cash as of fiscal year 2025; long-term debt is not reported for that period.

Dividends Per Share

$0.73

YoY+5.8%

5Y CAGR+6.6%

Kkr & Co Inc paid $0.73 per share in dividends in fiscal year 2025. This represents an increase of 5.8% from the prior year.

Shares Outstanding

891M

YoY+0.4%

5Y CAGR+9.2%

Kkr & Co Inc had 891M shares outstanding in fiscal year 2025. This represents an increase of 0.4% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Margins & Returns

Net Margin

12.2%

YoY-1.9pp

5Y CAGR-35.1pp

Kkr & Co Inc's net profit margin was 12.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.9 percentage points from the prior year.

Return on Equity

7.7%

YoY-5.3pp

5Y CAGR-6.9pp

10Y CAGR+6.7pp

Kkr & Co Inc's ROE was 7.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.3 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

Share Buybacks

$3.4M

5Y CAGR-57.6%

10Y CAGR-32.1%

Kkr & Co Inc spent $3.4M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

R&D Spending

Not reported for fiscal year 2025.

Capital Expenditures

Not reported for fiscal year 2025.

KKR Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

KKR annual income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$21.3B	$19.5B-11.0%	$21.9B+50.9%	$14.5B+154.2%	$5.7B-64.8%	$16.2B+283.5%	$4.2B+0.2%	$4.2B+76.2%	$2.4B-32.6%	$3.6B+74.4%	$2.0B	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$19.7B	$19.0B-9.4%	$21.0B+69.8%	$12.4B+106.1%	$6.0B-46.5%	$11.2B+421.0%	$2.2B+1.7%	$2.1B+54.0%	$1.4B-18.9%	$1.7B+59.4%	$1.1B-9.9%	$1.2B-6.6%	$1.3B-0.2%	$1.3B-1.1%	$1.3B+47.4%	$868.7M
Interest Expense	N/A	$2.8B-8.5%	$3.0B+9.5%	$2.8B+78.8%	$1.6B+44.9%	$1.1B+10.4%	$969.9M-7.1%	$1.0B+19.1%	$876.0M+8.3%	$808.9M+2.4%	$790.0M+37.8%	$573.2M+80.7%	$317.2M+218.4%	$99.6M+44.0%	$69.2M-4.9%	$72.8M
Income Tax	$1.1B	$953.7M-0.1%	$954.4M-20.3%	$1.2B+855.0%	$125.4M-91.0%	$1.4B+129.0%	$609.1M+15.2%	$528.8M+372.4%	-$194.1M-186.5%	$224.3M+813.3%	$24.6M-63.1%	$66.6M+4.7%	$63.7M+67.9%	$37.9M-12.6%	$43.4M-51.4%	$89.2M
Net Income	$3.2B	$2.4B-22.9%	$3.1B-17.6%	$3.7B+815.5%	-$521.7M-111.0%	$4.7B+136.3%	$2.0B-0.1%	$2.0B+77.3%	$1.1B+11.1%	$1.0B+229.2%	$309.3M-36.7%	$488.5M+2.3%	$477.6M-30.9%	$691.2M+23.2%	$560.8M+29095.0%	$1.9M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$5.7B+32.6%	$4.3B-24.8%	$5.7B+3.9%	$5.5B+8.6%	$5.1B+63.6%	$3.1B-4.5%	$3.3B-32.0%	$4.8B
SG&A Expenses	$5.4B+39.7%	$3.9B-28.5%	$5.4B+7.7%	$5.0B+5.9%	$4.7B+23.9%	$3.8B+28.5%	$3.0B-37.2%	$4.7B
Interest Expense	N/A	N/A	$692.1M-4.3%	$722.9M+2.2%	$707.4M+8.1%	$654.5M-15.5%	$774.9M+7.3%	$721.9M
Income Tax	$246.1M+32.8%	$185.4M-44.4%	$333.1M-7.4%	$359.7M+106.4%	$174.3M+101.3%	$86.6M-66.5%	$258.3M+23.1%	$209.9M
Net Income	$700.5M+72.9%	$405.2M-64.6%	$1.1B+27.3%	$900.4M+76.5%	$510.1M+374.4%	-$185.9M-116.5%	$1.1B+87.4%	$600.5M

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EPS (Diluted).

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

KKR Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

KKR annual balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$410.1B+13.9%	$360.1B+13.5%	$317.3B+15.2%	$275.3B	N/A	$79.8B+31.0%	$60.9B+20.0%	$50.7B+10.7%	$45.8B+17.5%	$39.0B-45.1%	$71.0B+7.8%	$65.9B+28.1%	$51.4B+15.8%	$44.4B+10.0%	$40.4B
Cash & Equivalents	$17.2B+11.6%	$15.4B-26.1%	$20.8B+55.5%	$13.4B+27.2%	$10.5B+96.3%	$5.4B+128.5%	$2.3B+34.0%	$1.8B-6.7%	$1.9B-25.2%	$2.5B+139.5%	$1.0B+14.1%	$918.1M-29.7%	$1.3B+6.2%	$1.2B+45.9%	$843.3M
Goodwill	N/A	N/A	N/A	N/A	N/A	$83.5M0.0%	$83.5M0.0%	$83.5M0.0%	$83.5M-6.2%	$89.0M0.0%	$89.0M0.0%	$89.0M0.0%	$89.0M0.0%	$89.0M	N/A
Total Liabilities	$328.5B+10.2%	$298.1B+15.1%	$258.9B+17.7%	$220.0B	N/A	$66.1B+31.9%	$50.1B+19.0%	$42.1B+8.9%	$38.6B+76.6%	$21.9B+1.4%	$21.6B+52.3%	$14.2B+192.6%	$4.8B+60.3%	$3.0B+12.2%	$2.7B
Long-Term Debt	N/A	N/A	N/A	N/A	$36.9B+10.2%	$33.5B+23.4%	$27.2B+19.9%	$22.6B+5.6%	$21.4B+14.9%	$18.7B-0.8%	$18.8B+70.9%	$11.0B+474.8%	$1.9B+70.3%	$1.1B+71717.8%	$1.6M
Total Equity	$30.9B+30.7%	$23.7B+3.5%	$22.9B+21.5%	$18.8B+7.0%	$17.6B+28.2%	$13.7B+26.9%	$10.8B+24.9%	$8.6B+20.4%	$7.2B-58.0%	$17.1B-65.4%	$49.5B-4.3%	$51.7B+11.0%	$46.6B+12.5%	$41.4B+9.9%	$37.7B
Retained Earnings	$13.9B+13.0%	$12.3B+25.1%	$9.8B+46.5%	$6.7B-12.6%	$7.7B+122.9%	$3.4B+92.0%	$1.8B+1849.0%	$92.0M	$0	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$414.5B+0.6%	$412.1B+0.5%	$410.1B+2.9%	$398.5B+4.6%	$380.9B+2.3%	$372.4B+3.4%	$360.1B-0.2%	$360.7B
Cash & Equivalents	$21.2B+8.8%	$19.5B+13.6%	$17.2B-25.1%	$22.9B+26.8%	$18.1B-1.8%	$18.4B+19.7%	$15.4B+2.7%	$15.0B
Total Liabilities	$334.0B+0.8%	$331.3B+0.8%	$328.5B+1.7%	$323.1B+4.3%	$309.9B+2.1%	$303.4B+1.8%	$298.1B-0.2%	$298.9B
Total Equity	$31.0B+1.8%	$30.5B-1.3%	$30.9B+3.9%	$29.7B+5.4%	$28.2B+2.7%	$27.5B+16.1%	$23.7B-1.8%	$24.1B
Retained Earnings	$14.6B+3.4%	$14.1B+1.4%	$13.9B+7.3%	$12.9B+5.7%	$12.2B+2.6%	$11.9B-2.8%	$12.3B+8.6%	$11.3B

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities.

KKR Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

KKR annual cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$2.5B	$477.8M-92.8%	$6.6B+545.2%	-$1.5B+71.7%	-$5.3B+26.4%	-$7.2B-20.5%	-$6.0B-4.8%	-$5.7B+25.3%	-$7.6B-115.3%	-$3.5B-145.1%	-$1.4B-474.0%	$385.4M-74.1%	$1.5B-42.3%	$2.6B-58.4%	$6.2B+3073.4%	-$208.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$194.6M+89.5%	$102.7M+5.8%	$97.1M+54.9%	$62.7M-63.0%	$169.4M+1292.9%	$12.2M-15.5%	$14.4M-61.1%	$37.0M+103.0%	$18.2M
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$5.9B+23.8%	-$7.7B-112.4%	-$3.6B-141.3%	-$1.5B-796.3%	$216.0M-85.4%	$1.5B-42.4%	$2.6B-58.4%	$6.2B+2818.3%	-$226.8M
Investing Cash Flow	-$8.3B	-$16.3B+14.5%	-$19.0B-390.5%	-$3.9B+71.5%	-$13.6B-42.1%	-$9.6B-6162.3%	-$153.4M+26.0%	-$207.4M-163.8%	-$78.6M+19.9%	-$98.1M-53.5%	-$63.9M+85.0%	-$425.2M-1758.6%	-$22.9M-248.0%	$15.5M	N/A	-$47.6M
Financing Cash Flow	$9.0B	$17.4B+146.3%	$7.1B-44.6%	$12.8B-42.1%	$22.1B+8.3%	$20.4B+107.7%	$9.8B+51.2%	$6.5B-2.0%	$6.6B+125.0%	$2.9B-4.7%	$3.1B+1721.6%	$169.4M+109.1%	-$1.9B+26.3%	-$2.5B	N/A	$360.7M
Dividends Paid	$669.6M	$649.9M+6.2%	$612.1M+8.7%	$563.3M+26.8%	$444.3M+34.1%	$331.4M+11.5%	$297.3M+9.5%	$271.5M-15.8%	$322.3M+3.3%	$312.0M+9.3%	$285.4M-59.6%	$706.6M-10.0%	$785.0M+81.9%	$431.6M+119.1%	$197.0M+27.6%	$154.5M
Share Buybacks	$233.2M	$3.4M	$0-100.0%	$289.8M-16.4%	$346.7M+28.5%	$269.7M+9.6%	$246.2M+241.3%	$72.1M-58.3%	$173.1M	$0-100.0%	$296.8M+83.3%	$161.9M	$0	$0	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$3.3B+86.2%	$1.7B+135.6%	-$4.9B-305.1%	$2.4B+444.6%	$438.8M-82.8%	$2.5B+2383.6%	-$111.7M-106.0%	$1.9B
Investing Cash Flow	$634.9M-73.0%	$2.3B+155.4%	-$4.2B+39.5%	-$7.0B-270.7%	-$1.9B+39.9%	-$3.1B-39.7%	-$2.3B+56.0%	-$5.1B
Financing Cash Flow	-$2.2B-29.2%	-$1.7B-149.6%	$3.4B-63.8%	$9.4B+851.5%	$990.8M-72.5%	$3.6B+24.5%	$2.9B+39.4%	$2.1B
Dividends Paid	$175.1M+6.3%	$164.8M0.0%	$164.9M0.0%	$164.8M0.0%	$164.8M+6.0%	$155.4M0.0%	$155.4M+0.1%	$155.3M
Share Buybacks	$42.0M-78.1%	$191.2M	$0	$0-100.0%	$3.4M	$0	$0	$0

KKR Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

KKR annual financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Net Margin	12.2%-1.9pp	14.1%-11.7pp	25.7%+34.9pp	-9.2%-38.3pp	29.2%-18.2pp	47.3%-0.2pp	47.5%+0.3pp	47.2%+18.6pp	28.6%+13.5pp	15.2%	N/A	N/A	N/A	N/A	N/A
Return on Equity	7.7%-5.3pp	13.0%-3.3pp	16.3%+19.1pp	-2.8%-29.7pp	26.9%+12.3pp	14.6%-4.0pp	18.6%+5.5pp	13.1%-1.1pp	14.2%+12.4pp	1.8%+0.8pp	1.0%+0.1pp	0.9%-0.6pp	1.5%+0.1pp	1.4%+1.3pp	0.0%
Return on Assets	0.6%-0.3pp	0.9%-0.3pp	1.2%+1.4pp	-0.2%	N/A	2.5%-0.8pp	3.3%+1.1pp	2.2%0.0pp	2.2%+1.4pp	0.8%+0.1pp	0.7%0.0pp	0.7%-0.6pp	1.3%+0.1pp	1.3%+1.3pp	0.0%
Debt-to-Equity	10.63-2.0x	12.60+1.3x	11.33-0.4x	11.70+9.6x	2.10-0.3x	2.44-0.1x	2.51-0.1x	2.62-0.4x	2.98+1.9x	1.09+0.7x	0.38+0.2x	0.21+0.2x	0.040.0x	0.030.0x	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	-139.2%	-321.8%	-102.0%	-73.7%	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Net Margin	12.2%+2.9pp	9.4%-10.6pp	20.0%+3.7pp	16.3%+6.3pp	10.0%+16.0pp	-6.0%-40.5pp	34.5%+22.0pp	12.5%
Return on Equity	2.3%+0.9pp	1.3%-2.4pp	3.7%+0.7pp	3.0%+1.2pp	1.8%+2.5pp	-0.7%-5.4pp	4.8%+2.3pp	2.5%
Return on Assets	0.2%+0.1pp	0.1%-0.2pp	0.3%+0.1pp	0.2%+0.1pp	0.1%+0.2pp	-0.1%-0.4pp	0.3%+0.1pp	0.2%
Debt-to-Equity	10.76-0.1x	10.86+0.2x	10.63-0.2x	10.86-0.1x	10.98-0.1x	11.05-1.6x	12.60+0.2x	12.41

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.

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Where Kkr & Co Inc Ranks

Frequently Asked Questions

What is Kkr & Co Inc's annual revenue?

Kkr & Co Inc (KKR) reported $19.5B in total revenue for fiscal year 2025. This represents a -11.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Kkr & Co Inc's revenue growing?

Kkr & Co Inc (KKR) revenue declined by 11.0% year-over-year, from $21.9B to $19.5B in fiscal year 2025.

Is Kkr & Co Inc profitable?

Yes, Kkr & Co Inc (KKR) reported a net income of $2.4B in fiscal year 2025, with a net profit margin of 12.2%.

What is Kkr & Co Inc's net profit margin?

Kkr & Co Inc (KKR) had a net profit margin of 12.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Kkr & Co Inc pay dividends?

Yes, Kkr & Co Inc (KKR) paid $0.73 per share in dividends during fiscal year 2025.

What is Kkr & Co Inc's return on equity (ROE)?

Kkr & Co Inc (KKR) has a return on equity of 7.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Kkr & Co Inc's operating cash flow?

Kkr & Co Inc (KKR) generated $477.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Kkr & Co Inc's total assets?

Kkr & Co Inc (KKR) had $410.1B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Kkr & Co Inc buy back shares?

Yes, Kkr & Co Inc (KKR) spent $3.4M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Kkr & Co Inc have outstanding?

Kkr & Co Inc (KKR) had 891M shares outstanding as of fiscal year 2025.

What is Kkr & Co Inc's debt-to-equity ratio?

Kkr & Co Inc (KKR) had a debt-to-equity ratio of 10.63 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Kkr & Co Inc's return on assets (ROA)?

Kkr & Co Inc (KKR) had a return on assets of 0.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Kkr & Co Inc's Piotroski F-Score?

Kkr & Co Inc (KKR) has a Piotroski F-Score of 2 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Kkr & Co Inc's earnings high quality?

Kkr & Co Inc (KKR) has an earnings quality ratio of 0.20x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.