Financial Services · NYSE/NASDAQ: KKR
KKR & Co. Inc.
Asset Management
Market Cap $91.45B
Verdict: High
Quality Scores
Multi-Bagger
78/100
Compounder Quality
85/100
Management Credibility
90/100
Governance
86/100
Cash Flow Quality
68/100
AI Summary
KKR has transitioned from a pure-play private equity firm into a diversified global asset management powerhouse, significantly bolstered by the strategic acquisition of Global Atlantic. Over the last decade, total assets have scaled ten-fold, moving from approximately $39B in 2016 to over $410B by 2025. While revenue exhibits the volatility inherent in mark-to-market accounting and performance fee timing, the underlying management fee base has become increasingly stable. Net income peaked at $4.67B in 2021 before stabilizing in the $2.3B to $3.7B range in recent years. The firm maintains a…
Top Opportunities
- Massive AUM growth exceeding industry averages
- Strategic diversification into insurance (Global Atlantic)
- High level of dry powder provides recession resilience
Top Risks
- Extreme earnings volatility due to mark-to-market accounting
- Consistently negative OCF for the majority of the decade
- High regulatory scrutiny on the private equity industry
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