KKR &
KKR · NYSEInvestment Advice · Fiscal year ends Dec 31
KKR & reported revenue of $19.5B in the fiscal year ended Dec 2025, down 11.0% from the year before. Net income was $2.4B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $16.2B | $5.7B | $14.5B | $21.9B | $19.5B |
| Interest expense | $1.1B | $1.6B | $2.8B | $3B | $2.8B |
| Pre-tax income | $13.8B | −$292M | $6.6B | $5.9B | $7.1B |
| Income tax | $1.4B | $125M | $1.2B | $954M | $954M |
| Net income | $4.7B | −$522M | $3.7B | $3.1B | $2.4B |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $10.5B | $13.4B | $20.8B | $15.4B | $17.2B |
| Total assets | – | $275B | $317B | $360B | $410B |
| Deferred revenue | $34M | – | – | – | – |
| Long-term debt | $36.9B | – | – | – | – |
| Total liabilities | – | $220B | $259B | $298B | $329B |
| Shareholders' equity | $17.6B | $18.8B | $22.9B | $23.7B | $30.9B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −$7.2B | −$5.3B | −$1.5B | $6.6B | $478M |
| Depreciation & amortisation | $387M | $364M | $68M | −$119M | −$163M |
| Stock-based compensation | $530M | $730M | $618M | $746M | $722M |
| Acquisitions | $474M | – | $0 | $0 | $146M |
| Share buybacks | $270M | $347M | $290M | $0 | $3M |
| Dividends paid | $331M | $444M | $563M | $612M | $650M |
| Dividend per share | 0.58 | 0.61 | 0.65 | 0.69 | 0.73 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −64.8% | 154.2% | 50.9% | −11.0% |
| Net margin | 29.2% | −9.1% | 25.7% | 14.1% | 12.2% |
| Return on equityBlank when equity is negative | 26.9% | −2.8% | 16.3% | 13.0% | 7.7% |
| Cash conversion (CFO ÷ net income) | −1.52x | 10.1x | −0.40x | 2.16x | 0.20x |
| Debt ÷ equity | 2.10x | – | – | – | – |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $26.4B | – | – | – | – |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.