Upside case
Bull case
$126+655.1%
The bull case prices KKRS at 14x on FY1 earnings, assuming continued execution and no meaningful deceleration in the core business.
Analysis OverviewNo CoverageUpdated —
KKR Group Finance Co. IX LLC 4. (KKRS) 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
Mixed
Covering
—
analysts
0 bullish · 0 bearish · 0 covering KKRS
Strong Buy
0
Buy
0
Hold
0
Sell
0
Strong Sell
0
Consensus Target
—
— vs today
Scenario Range
— – $126
Model bear to bull value window
Coverage
—
Published analyst ratings
Valuation Context
—
Forward P/E · Market cap $14.8B
KKRS price targets
Three scenarios for where KKRS stock could go
Current
~$17
Confidence
29 / 100
Updated
—
Where we are now
Current · $17
Base
$34
Bull
$126
Market caseClosest to today
Base case
$34+105.6%
At 4x 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 Group Finance Co. IX LLC 4.
KKRS · NYSEFinancial ServicesFinancial - Credit ServicesDecember year-end
KKR Group Finance Co. IX LLC is a special purpose financing entity that exists to raise capital for KKR's investment activities. It generates revenue primarily through interest income from loans and debt securities issued to fund KKR's private equity and credit investments. Its key advantage is its structural role within the KKR ecosystem—providing efficient, dedicated financing capacity for one of the world's largest alternative asset managers.
Market Cap
$14.8B
Net Income TTM
$6.0B
KKRS 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
—No data
0 quarters tracked
Revenue Beat Rate
—No data
vs consensus estimates
Avg EPS Surprise
—
above Street consensus
Last 4 Quarters
Earnings surprise history is not available for this ticker yet.
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Earnings surprise history is not available for this ticker yet. | ||||
FY1–FY2 Estimates
Revenue Outlook
FY1
$29.5B
+35.0% YoY
FY2
$39.9B
+35.0% YoY
EPS Outlook
FY1
$9.15
+42.1% YoY
FY2
$10.81
+18.2% YoY
Trailing FCF (TTM)$4.2B
Next Earnings
—
Expected EPS
—
Expected Revenue
—
KKRS Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2024
Total disclosed revenue $25.3B
Product Mix
Latest annual revenue by segment or product family
Insurance Segment
57.9%
+68.7% 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 57.9% of FY 2024 revenue, up 68.7% YoY.
KKRS Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Undervalued
Fair value est. $51 — implies +198.3% from today's price.
Upside to Fair Value
198.3%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
KKRS
3.2x
vs
S&P 500
25.2x
87% discount
vs Financial Services Trailing P/E
KKRS
3.2x
vs
Financial Services
13.4x
76% discount
vs KKRS 5Y Avg P/E
Today
3.2x
vs
5Y Average
3.1x
In line with benchmark
Forward PE
—
S&P 500
19.1x
—
Financial Services
10.5x
—
5Y Avg
—
—
Trailing PE
3.2x
S&P 500
25.2x
-87%
Financial Services
13.4x
-76%
5Y Avg
3.1x
+1%
PEG Ratio
—
S&P 500
1.75x
—
Financial Services
1.03x
—
5Y Avg
—
—
EV/EBITDA
0.9x
S&P 500
15.3x
-94%
Financial Services
11.4x
-92%
5Y Avg
5.9x
-85%
Price/FCF
2.3x
S&P 500
21.3x
-89%
Financial Services
10.6x
-79%
5Y Avg
2.6x
-13%
Price/Sales
0.7x
S&P 500
3.1x
-78%
Financial Services
2.3x
-70%
5Y Avg
1.2x
-44%
Dividend Yield
3.94%
S&P 500
1.88%
+110%
Financial Services
2.68%
+47%
5Y Avg
3.45%
+14%
| Metric | KKRS | S&P 500 | Financial Services | 5Y Avg KKRS |
|---|---|---|---|---|
| Forward PE | — | 19.1x | 10.5x | — |
| Trailing PE | 3.2x | 25.2x-87% | 13.4x-76% | 3.1x |
| PEG Ratio | — | 1.75x | 1.03x | — |
| EV/EBITDA | 0.9x | 15.3x-94% | 11.4x-92% | 5.9x-85% |
| Price/FCF | 2.3x | 21.3x-89% | 10.6x-79% | 2.6x-13% |
| Price/Sales | 0.7x | 3.1x-78% | 2.3x-70% | 1.2x-44% |
| Dividend Yield | 3.94% | 1.88% | 2.68% | 3.45% |
KKRS trades above S&P 500 benchmarks on 0 of 4 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
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 toolKKRS Financial Health
Verdict
Stressed
KKRS generates 8.0% ROE and 1.5% 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
$6.44
ROE
Return on equity — the primary profitability signal for banks
8.0%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
28.7%
ROA
Return on assets, trailing twelve months
1.5%
Cash & Equivalents
Liquid assets on the balance sheet
$9M
Net Cash
Cash exceeds total debt — no net leverage
$9M
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
8.0%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
3.9%
Dividend
3.9%
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
$0.66
Payout Ratio
Share of earnings distributed as dividends
12.5%
Shares Outstanding
Current diluted share count
932M
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 pageKKRS Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Macroeconomic & Geopolitical Factors
Elevated oil prices and ongoing geopolitical conflicts, such as the U.S.-Iran conflict, can tighten financial conditions and adversely impact fixed-income instruments like KKRS notes. Market volatility, particularly from events like the Strait of Hormuz standoff, may also affect equity markets and investor sentiment.
High Risk
Financial & Operational Risks
The private credit market is experiencing a surge in bad loans and asset write-downs, particularly with software-linked exposures, leading to a repricing that pressures near-term returns for publicly traded private credit funds. Additionally, rising interest rates, linked to geopolitical events and potential Federal Reserve hikes, create a challenging environment for fixed-income instruments.
Medium
Redemption Requests
KKRS faces challenges from surging redemption requests within the private credit sector, which have led some peers to cap fund withdrawals. This trend could impact liquidity and investor confidence in KKRS's funds.
Medium
Leverage in Business Model
KKR's business model involves substantial leverage in its private equity deals, which amplifies financial risk. This reliance on leverage can lead to increased volatility in earnings and returns, particularly in adverse market conditions.
Medium
Regulatory & Legal Risks
Changes in private market regulations pose potential risks to KKRS's operations and profitability. Regulatory shifts could impact investment strategies and compliance costs, affecting overall performance.
Lower
ESG Risks
KKR's investments in fossil fuel projects have drawn scrutiny regarding their alignment with long-term financial stability as the global momentum shifts towards renewable energy. Concerns about transparency and potential greenwashing in corporate reporting related to environmental claims may also affect investor perception.
Lower
Analyst Sentiment & Market Perception
Despite some analysts maintaining a positive outlook on KKR & Co., there have been price target reductions and downgrades from firms like BMO and TD Cowen. Concerns about KKR's earnings variability and realization timing contribute to near-term volatility.
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 KKRS Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Robust Fundraising and Asset Growth
KKR has demonstrated significant success in raising capital, with a record $129 billion raised in 2025, exceeding 80% of its $300 billion fundraising goal for 2024-2026. Assets Under Management (AUM) reached $744 billion in early 2026, driven by strong performance in asset management and insurance.
Strategic Acquisitions and Expansion
The company has been actively expanding its business through strategic acquisitions, including the $1.4 billion acquisition of Arctos, a leader in sports franchise investments. Additionally, KKR has formed an energy transition partnership with HMC Capital, diversifying its offerings and tapping into new growth areas.
Positive Analyst Sentiment
Analysts generally hold a positive outlook on KKR, with a consensus rating of 'Moderate Buy' or 'Buy.' One analysis indicates a potential 35.4% upside from its current price, reflecting strong confidence in the company's future performance.
Fee-Related Earnings (FRE) Growth
KKR's fee-related earnings have shown strong growth, with a reported 15% increase. The fee-related earnings margin remains robust at 68%, providing a key recurring revenue stream that drives the company's valuation.
Diversified Business Model
KKR operates a diversified investment platform that extends beyond traditional private equity, including credit markets and real assets like infrastructure and real estate. This diversification helps mitigate risks and capture opportunities across various market segments.
Modernizing Governance
Proposed amendments to the company's charter aim to transition to a 'one share, one vote' system, which could enhance corporate governance and align shareholder interests.
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.
KKRS 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
$16.65
52W Range Position
79%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$6.81
+144.5% from the low
52-Week High
$19.30
-13.7% from the high
1 Month
+2.52%
3 Month
-5.02%
YTD
-6.0%
1 Year
-5.1%
3Y CAGR
-2.2%
5Y CAGR
-8.2%
10Y CAGR
-4.3%
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.
KKRS vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
—
vs 16.5x median
Peer median unavailable
Revenue Growth
+35.0%
vs +15.0% median
+133% above peer median
Net Margin
—
vs — median
Peer median unavailable
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
KKR KKRS KKR Group Finance Co. IX LLC 4. | $14.8B | — | +35.0% | — | — | — |
KKR KKR KKR & Co. Inc. | $89.9B | 16.5x | -20.3% | — | Buy | +41.9% |
APO APO Apollo Global Management, Inc. | $74.7B | 14.6x | -17.3% | — | Buy | +21.4% |
BX BX Blackstone Inc. | $97.7B | 20.9x | +15.0% | — | Buy | +25.3% |
CG CG The Carlyle Group Inc. | $18.3B | 11.8x | +28.2% | — | Buy | +32.5% |
ARE ARES Ares Management Corporation | $40.7B | 20.3x | +17.9% | — | Buy | +43.2% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
KKRS Dividend and Capital Return
KKRS returns 3.9% total yield, led by a 3.94% dividend.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
3.9%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
3.94%
Payout Ratio
12.5%
How KKRS Splits Its Return
Div 3.94%
Dividend 3.94%Buybacks 0.0%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.66
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
0.0%
5Y Div CAGR
3.7%
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
$0
Estimated Shares Retired
0
Approx. Share Reduction
0.0%
Shares Outstanding
Current diluted share count from the screening snapshot
932M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.29 | — | — | — |
| 2025 | $1.16 | -0.0% | — | — |
| 2024 | $1.16 | +0.0% | 0.0% | 3.6% |
| 2023 | $1.16 | 0.0% | 1.9% | 5.5% |
| 2022 | $1.16 | +32.9% | 2.8% | 6.9% |
FAQ
6 questionsKKRS Investor Questions
Common questions answered from live analyst data and company financials.
01Is KKR Group Finance Co. IX LLC 4. (KKRS) stock a buy or sell in 2026?
KKR Group Finance Co. IX LLC 4. (KKRS) has limited published analyst coverage at this time. Use the scenario targets and valuation multiples on this page as a guide.
02Is KKR Group Finance Co. IX LLC 4. (KKRS) stock overvalued in 2026?
Forward earnings data for KKRS is not currently available. Review the valuation table above for trailing P/E, EV/EBITDA, and price-to-sales comparisons against market and sector benchmarks.
03What are the main risks for KKR Group Finance Co. IX LLC 4. (KKRS) stock in 2026?
The primary risks for KKRS in 2026 are: (1) Macroeconomic & Geopolitical Factors — Elevated oil prices and ongoing geopolitical conflicts, such as the U. (2) Financial & Operational Risks — The private credit market is experiencing a surge in bad loans and asset write-downs, particularly with software-linked exposures, leading to a repricing that pressures near-term returns for publicly traded private credit funds. (3) Redemption Requests — KKRS faces challenges from surging redemption requests within the private credit sector, which have led some peers to cap fund withdrawals. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
04What is KKR Group Finance Co. IX LLC 4.'s revenue and earnings forecast?
Analyst consensus estimates KKRS will report consensus revenue of $29.5B (+35.0% year-over-year) and EPS of $9.15 (+42.1% year-over-year) for the upcoming fiscal year. The following year, analysts project $39.9B in revenue.
05When does KKR Group Finance Co. IX LLC 4. (KKRS) report its next earnings?
A confirmed upcoming earnings date for KKRS is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
06How much free cash flow does KKR Group Finance Co. IX LLC 4. generate?
KKR Group Finance Co. IX LLC 4. (KKRS) generated $4.2B in free cash flow over the trailing twelve months. KKRS returns capital to shareholders through dividends (3.9% yield) and share repurchases ($0 TTM).