Upside case
Bull case
$849+732.5%
KKR would need investors to value it at roughly 139x earnings — about 122x more generous than today's 17x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
KKR & Co. Inc. (KKR) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
26
analysts
23 bullish · 0 bearish · 26 covering KKR
Strong Buy
0
Buy
23
Hold
3
Sell
0
Strong Sell
0
Consensus Target
$143
+40.2% vs today
Scenario Range
— – $849
Model bear to bull value window
Coverage
26
Published analyst ratings
Valuation Context
16.7x
Forward P/E · Market cap $90.9B
KKR price targets
Three scenarios for where KKR stock could go
Current
~$102
Confidence
49 / 100
Updated
May 1, 2026
Where we are now
Current · $102
Base
$203
Bull
$849
Market caseClosest to today
Base case
$203+99.4%
At 33x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
KKR & Co. Inc.
KKR · NYSEFinancial ServicesAsset ManagementDecember year-end
KKR is a global investment firm that manages private equity, credit, and real assets funds for institutional and individual investors. It generates revenue primarily through management fees on its $500+ billion in assets under management and performance fees — typically 20% of investment profits — from its private equity funds. The firm's competitive advantage lies in its four-decade track record, deep industry expertise across sectors, and extensive global network that provides proprietary deal flow and operational value creation capabilities.
Market Cap
$90.9B
Net Income TTM
$2.4B
KKR Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
92%Exceptional
12 quarters tracked
Revenue Beat Rate
92%Exceptional
vs consensus estimates
Avg EPS Surprise
+5.2%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 3 of 4Q3 2025
EPS
$1.18/$1.14
Revenue
$5.0B/$1.8B
Q4 2025
EPS
$1.41/$1.30
Revenue
$5.5B/$2.2B
Q1 2026
EPS
$1.12/$1.14
Revenue
$1.6B/$1.8B
Q2 2026
EPS
$1.39/$1.26
Revenue
$2.3B/$2.2B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $1.18/$1.14 | +3.5% | $5.0B/$1.8B | +181.3% |
| Q4 2025 | $1.41/$1.30 | +8.5% | $5.5B/$2.2B | +153.3% |
| Q1 2026 | $1.12/$1.14 | -1.8% | $1.6B/$1.8B | -10.2% |
| Q2 2026 | $1.39/$1.26 | +10.3% | $2.3B/$2.2B | +7.6% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$22.6B
+4.5% YoY
FY2
$29.3B
+29.4% YoY
EPS Outlook
FY1
$5.57
+126.2% YoY
FY2
$6.54
+17.4% YoY
Trailing FCF (TTM)$7.5B
Next Earnings
—
Expected EPS
—
Expected Revenue
—
KKR beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
KKR Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $23.6B
Product Mix
Latest annual revenue by segment or product family
Insurance Segment
49.3%
-20.7% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Segment breakdown not available for this company.
Insurance Segment is the largest disclosed segment at 49.3% of FY 2025 revenue, down 20.7% YoY.
KKR Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Fairly Valued
Fair value est. $104 — implies +0.7% from today's price.
Upside to Fair Value
0.7%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
KKR
43.6x
vs
S&P 500
25.1x
+74% premium
vs Financial Services Trailing P/E
KKR
43.6x
vs
Financial Services
13.3x
+227% premium
vs KKR 5Y Avg P/E
Today
43.6x
vs
5Y Average
32.5x
+34% premium
Forward PE
16.7x
S&P 500
19.1x
-12%
Financial Services
10.4x
+60%
5Y Avg
—
—
Trailing PE
43.6x
S&P 500
25.1x
+74%
Financial Services
13.3x
+227%
5Y Avg
32.5x
+34%
PEG Ratio
—
S&P 500
1.72x
—
Financial Services
1.01x
—
5Y Avg
—
—
EV/EBITDA
20.4x
S&P 500
15.2x
+34%
Financial Services
11.4x
+79%
5Y Avg
21.8x
-6%
Price/FCF
9.5x
S&P 500
21.1x
-55%
Financial Services
10.6x
-9%
5Y Avg
17.1x
-44%
Price/Sales
4.7x
S&P 500
3.1x
+51%
Financial Services
2.2x
+112%
5Y Avg
5.4x
-13%
Dividend Yield
0.79%
S&P 500
1.87%
-58%
Financial Services
2.70%
-71%
5Y Avg
0.76%
+4%
| Metric | KKR | S&P 500 | Financial Services | 5Y Avg KKR |
|---|---|---|---|---|
| Forward PE | 16.7x | 19.1x-12% | 10.4x+60% | — |
| Trailing PE | 43.6x | 25.1x+74% | 13.3x+227% | 32.5x+34% |
| PEG Ratio | — | 1.72x | 1.01x | — |
| EV/EBITDA | 20.4x | 15.2x+34% | 11.4x+79% | 21.8x |
| Price/FCF | 9.5x | 21.1x-55% | 10.6x | 17.1x-44% |
| Price/Sales | 4.7x | 3.1x+51% | 2.2x+112% | 5.4x-13% |
| Dividend Yield | 0.79% | 1.87% | 2.70% | 0.76% |
KKR trades above S&P 500 benchmarks on 3 of 5 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolKKR Financial Health
Verdict
Stressed
KKR generates 3.2% ROE and 0.6% return on assets — the two primary signals for banking profitability. FCF-based metrics are not applicable to financial companies.
Earnings Engine
Revenue, profitability, and return on capital
Revenue (TTM)
Trailing-twelve-month sales base
—
Revenue Growth
TTM vs prior year
—
Operating Margin
Operating income divided by revenue
—
Net Margin
Net income divided by revenue
—
EPS (TTM)
Diluted earnings per share, trailing twelve months
$2.48
ROE
Return on equity — the primary profitability signal for banks
3.2%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
0.3%
ROA
Return on assets, trailing twelve months
0.6%
Cash & Equivalents
Liquid assets on the balance sheet
$6M
Net Debt
Total debt minus cash
$54.8B
FCF Analysis
Traditional FCF and debt/FCF ratios are not meaningful for financial companies. Focus on ROE and ROA above.
ROE
Return on equity — the headline bank profitability metric
3.2%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.9%
Dividend
0.8%
Buyback
0.1%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$123M
Dividend / Share
Annualized trailing dividend per share
$0.80
Payout Ratio
Share of earnings distributed as dividends
32.4%
Shares Outstanding
Declining as buybacks retire shares
892M
All figures from the trailing twelve months. For financial companies, ROE and ROA are the primary health signals — FCF-based metrics are not applicable.
Open full ratios pageKKR Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 11, 2026
High Risk
Leverage & Debt
KKR’s business model relies heavily on debt financing, with a debt‑to‑equity ratio of 1.77. Excessive leverage can amplify losses if market conditions deteriorate or if the firm cannot refinance at favorable terms.
High Risk
Asset Quality & Loan Performance
The private credit portfolio is experiencing rising non‑accrual loans and credit rating downgrades, notably for FS KKR Capital. Deteriorating loan performance could erode earnings and increase provisioning requirements.
High Risk
Market Volatility
KKR’s equity has a beta of 2.27, indicating higher sensitivity to market swings. Volatility can depress asset valuations, delay exits, and reduce investor confidence, especially amid broader concerns such as oil‑price‑driven S&P 500 declines.
Medium
Regulatory Scrutiny
KKR has faced antitrust enforcement actions and alleged Hart‑Scott‑Rodino violations related to pre‑merger filings. Ongoing investigations or penalties could result in fines, operational restrictions, or reputational damage.
Medium
ESG Climate & Reputation
Investments in fossil‑fuel projects and repeated environmental violations raise concerns about alignment with climate goals. Failure to secure community consent or meet ESG standards can lead to regulatory penalties and investor backlash.
Medium
Liquidity Risk
Certain non‑traded BDCs, such as KKR FS Income Trust, have capped redemptions due to increased withdrawal requests, highlighting liquidity challenges in private credit holdings.
Lower
Cybersecurity
Potential cyber‑attacks could compromise data confidentiality, integrity, or availability, disrupting operations and exposing KKR to regulatory investigations and fines.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why KKR Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 11, 2026
Record Fundraising Momentum
KKR raised a record $129 billion in 2025, surpassing its fundraising goals. With approximately $118 billion of dry powder, the firm is well positioned to deploy capital into attractive opportunities.
Growing Fee‑Related Earnings
Management fees have grown year‑over‑year, driven by strong fundraising activity. KKR expects continued margin expansion in fee‑related earnings through operating leverage and a higher mix of capital‑light, recurring fee streams.
Private Credit as a Centerpiece
KKR’s private credit and insurance assets exceed $250 billion, with direct lending growth fueled by bank disintermediation. This asset class is a key driver of high‑single to low‑double‑digit AUM CAGR.
Geographic Expansion into Asia‑Pacific
The firm is targeting growth in Japan, India, and Southeast Asia, while expanding its presence in Europe via platform deals in telecom, healthcare, and industrials. These markets offer significant upside for KKR’s diversified asset management strategy.
Strategic Acquisitions & Partnerships
KKR plans to acquire Arctos Partners and has partnerships in AI data centers and energy transition projects. These moves are expected to accelerate growth in high‑growth sectors such as technology and infrastructure.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
KKR Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$102.00
52W Range Position
27%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$82.67
+23.4% from the low
52-Week High
$153.87
-33.7% from the high
1 Month
+12.03%
3 Month
+2.85%
YTD
-20.9%
1 Year
-11.1%
3Y CAGR
+25.6%
5Y CAGR
+11.9%
10Y CAGR
+22.7%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
KKR vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
16.7x
vs 16.5x median
+1% above peer median
Revenue Growth
+4.5%
vs +17.9% median
-75% below peer median
Net Margin
—
vs — median
Peer median unavailable
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
KKR KKR KKR & Co. Inc. | $90.9B | 16.7x | +4.5% | — | Buy | +40.2% |
BX BX Blackstone Inc. | $96.2B | 20.6x | +15.0% | — | Buy | +27.4% |
APO APO Apollo Global Management, Inc. | $74.0B | 14.7x | -17.3% | — | Buy | +20.7% |
CG CG The Carlyle Group Inc. | $18.5B | 11.9x | +28.2% | — | Buy | +31.3% |
ARE ARES Ares Management Corporation | $40.4B | 20.2x | +17.9% | — | Buy | +44.3% |
TPG TPG TPG Inc. | $17.5B | 16.5x | +23.6% | — | Buy | +42.5% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
KKR Dividend and Capital Return
KKR returns 0.9% total yield, led by a 0.79% dividend, raised 6 consecutive years.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
0.9%
Dividend + buyback return per year
Buyback Yield
0.1%
Dividend Yield
0.79%
Payout Ratio
32.4%
How KKR Splits Its Return
Div 0.79%
Dividend 0.79%Buybacks 0.1%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.80
Growth Streak
Consecutive years of dividend increases
6Y
3Y Div CAGR
6.2%
5Y Div CAGR
6.6%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$123M
Estimated Shares Retired
1M
Approx. Share Reduction
0.1%
Shares Outstanding
Current diluted share count from the screening snapshot
892M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.18 | — | — | — |
| 2025 | $0.73 | +5.8% | 0.1% | 0.7% |
| 2024 | $0.69 | +6.2% | 0.1% | 0.5% |
| 2023 | $0.65 | +6.6% | 0.4% | 1.1% |
| 2022 | $0.61 | +7.0% | 1.0% | 2.3% |
FAQ
7 questionsKKR Investor Questions
Common questions answered from live analyst data and company financials.
01Is KKR & Co. Inc. (KKR) stock a buy or sell in 2026?
KKR & Co. Inc. (KKR) is rated Buy by Wall Street analysts as of 2026. Of 26 analysts covering the stock, 23 rate it Buy or Strong Buy, 3 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $143, implying +40.2% from the current price of $102.
02What is the KKR stock price target for 2026?
The Wall Street consensus price target for KKR is $143 based on 26 analyst estimates. The high-end target is $187 (+83.3% from today), and the low-end target is $119 (+16.7%). The base case model target is $203.
03Is KKR & Co. Inc. (KKR) stock overvalued in 2026?
KKR trades at 16.7x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals fairly valued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for KKR & Co. Inc. (KKR) stock in 2026?
The primary risks for KKR in 2026 are: (1) Leverage & Debt — KKR’s business model relies heavily on debt financing, with a debt‑to‑equity ratio of 1. (2) Asset Quality & Loan Performance — The private credit portfolio is experiencing rising non‑accrual loans and credit rating downgrades, notably for FS KKR Capital. (3) Market Volatility — KKR’s equity has a beta of 2. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is KKR & Co. Inc.'s revenue and earnings forecast?
Analyst consensus estimates KKR will report consensus revenue of $22.6B (+4.5% year-over-year) and EPS of $5.57 (+126.2% year-over-year) for the upcoming fiscal year. The following year, analysts project $29.3B in revenue.
06When does KKR & Co. Inc. (KKR) report its next earnings?
A confirmed upcoming earnings date for KKR is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does KKR & Co. Inc. generate?
KKR & Co. Inc. (KKR) generated $7.5B in free cash flow over the trailing twelve months. KKR returns capital to shareholders through dividends (0.8% yield) and share repurchases ($123M TTM).