KKR & Co. Inc.
$98.05
+0.85 (+0.87%) · delayed · Nov 13, 2026
Five-year price
52w $82.67 to $144.84
- Market cap
- $87.5B
- Enterprise value
- $70.3B
- P/E
- 36.9×
- EV / EBIT
- —
- FCF yield
- 0.5%
- ROIC
- —
- Debt / equity
- —
- Piotroski F
- 3/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
33
- –ROIC > 12% (5y avg)5y avg ROIC n/a
- ○ROE > 15% (5y avg)5y avg ROE 12.2%
- –Stable operating marginsMargin volatility n/a (σ, 5y)
- ○Earnings convert to cashFCF / net income 11% (5y avg)
- ●Growing revenueRevenue CAGR 5y 57.5%
- –Shrinking share countDiluted shares n/a over 5y
Value
25
- ○P/E below 15P/E 36.9
- –EV/EBIT below 12EV/EBIT n/a
- ○FCF yield above 6%FCF yield 0.5%
- ○Price below Graham NumberGraham Number $45.51
- ●P/B below 3P/B 2.8
Safety
n/a
- –Debt / equity below 0.5D/E n/a
- ●Debt payable in < 4 yrs of earningsNet debt $-17.2B
- –Interest coverage > 8xCoverage n/ax
- –Current ratio > 1.5Current ratio n/a
- ○Piotroski F-score ≥ 6F-score 3/9
Graham Defensive
n/a
- ●Adequate size (revenue > $2B)Revenue $19.5B
- –Strong condition (current ratio ≥ 2)Current ratio n/a
- ○Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- –Earnings growth ≥ 33% (10y, 3y avgs)n/a
- –Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) n/a
- –P/E × P/B ≤ 22.5Product n/a
Valuation lab
What do you have to believe?
At $98.05, the market is pricing in about 32.7% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt −$17.2B · 892M shares · 5y revenue CAGR 57.5%
Intrinsic value
$50.75
Price
$98.05
Premium paid
93%
What the price implies
The market is paying for 32.7% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
70% of the value sits beyond year 10. That means the answer depends mostly on the long-run assumptions.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,105 | 1,542 | 1,841 | 1,790 | 2,007 | 16,226 | 5,704 | 14,499 | 21,879 | 19,464 |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Operating income | — | — | — | — | — | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — | — | — | — | — |
| Pre-tax income | 975 | 2,784 | 2,257 | 5,168 | 5,727 | 13,847 | (292) | 6,555 | 5,860 | 7,099 |
| Income tax | 25 | 224 | (194) | 529 | 609 | 1,395 | 125 | 1,198 | 954 | 954 |
| Net income | 309 | 1,018 | 1,131 | 2,005 | 2,003 | 4,732 | (522) | 3,732 | 3,076 | 2,370 |
| EPS (diluted) | — | — | — | — | — | — | — | — | — | — |
| Diluted shares | — | — | — | — | — | — | — | — | — | — |
Who owns it