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KKR & Co. Inc.
NYSE: KKR Financials AMC 🔎 Screen
S&P 500
$85.8B
Market Cap
50.5
P/E
0.93
PEG
0.2%
ROCE
8.8%
ROE
0.67
D/E
3.8%
OPM
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🌏 Global Investor Returns
Currency-adjusted total returns for KKR including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
Shareholding
About

KKR & Co. Inc. is a private equity and real estate investment firm specializing in direct and fund of fund investments.

Key Ratios Snapshot
📊 Sector Averages
📈 Growth Pattern
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⭐ Superinvestors Holding KKR
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Manager Shares Value % of Fund Period
Jeff Ubben ValueAct Holdings 3.28M $303.4M 5.31% Mar 2026
Steve Cohen Point72 Asset Management 679.0K $62.8M 0.08% Mar 2026
Jim Simons Renaissance Technologies LLC 257.4K $23.8M 0.04% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
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🎙 Management Tone Mixed → Stable 4 quarters Full tone analysis in Intelligence →
Good quarter Investor Presentation One-Pager? Q1 2026
Fee-Related Earnings per Share
$1.13
+23% YoY
Total Operating Earnings per Share
$1.47
+18% YoY
Adjusted Net Income per Share
$1.39
+20% YoY
Management Fees
$1.2B
+30% YoY
What Went Right
  • Fee-related earnings per share up 23% YoY to $1.13, among highest in history
  • Fundraising of $28B in Q1, led by credit and asset-based finance
  • Realized carry up 120% YoY to $720M; forward monetization pipeline of $1.2B+
What to Watch
  • ANI target of $7+ per share for 2026 now more likely below that level
  • Insurance segment saw increased competition in retail channel; management pulled back on originations
  • Market volatility may delay some strategic exits into 2027
Management Guidance
  • Reaffirmed confidence in exceeding fundraising, strategic holdings operating earnings, and FRE per share targets for 2026
  • ANI for 2026 now expected below $7 per share due to modestly less visibility on monetizations
  • Forward monetization revenue of $1.2B+ from closed and signed transactions — largest ever discussed
Investor Lens
The thesis is reinforced by steady double-digit growth in core earnings and record-high embedded gains of $18.3B. Management actively buying back stock at ~$91/share and insiders purchasing shares signals confidence. Near-term ANI may come in below the $7 target, but delayed realizations are not lost and likely shift to 2027. Diversification across credit, real assets, and insurance buffers against volatility in any single segment.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Steady 20% earnings growth in a volatile quarter; ANI outlook tempered
Revenue
Management fees reached $1.2B, up 30% YoY, with catch-up fees contributing. Excluding catch-up, growth was just north of 20%. Fee-related earnings exceeded $1.0B, or $1.13 per share. Total operating earnings per share of $1.47 rose 18% YoY, with 85% of pre-tax segment earnings from recurring streams.
Profitability
Adjusted net income per share was $1.39, up 20% YoY, driven by a 50% increase in total monetization activity to $880M. Realized carried interest surged 120% to $720M. Net income of $1.2B for the quarter.
Margins
FRE margin improved slightly to approximately 69% at March 31. Fee-related compensation remained at 17.5%, the midpoint of guided range. Other operating expenses were $195M. The margin reflects continued operating leverage.
Balance Sheet
KKR repurchased or retired $317M of stock through May 1 at an average price of ~$91. Board increased share repurchase authorization by $500M. Insurance segment holds $6B of dry powder equity, translating to $60B+ of liability buying power. Embedded gains of $18.3B, up 11% YoY.
Key Risks
Competition in the US retail annuity space remains high, leading to tighter spreads and a pullback in originations. Market volatility and tariffs have created modestly less visibility on timing of realizations for 2026 ANI targets. Redemption activity in wealth channel, though small for KKR ($250M in Q1), could slow flows in Q2.
Outlook
For 2026, management expects to exceed targets for fundraising, strategic holdings operating earnings (~$350M+), and FRE per share. ANI is now expected below $7 per share, with any delays shifting to 2027. Strong forward monetization pipeline of $1.2B+ underpins confidence.
Generated by AI · Q1 2026 results · Not investment advice
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
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