Price · last 3 months · daily close
KKR price
Loading the price chart...
Daily closing prices via yfinance. Quotes are delayed. Past prices are not a guarantee of future results.
ValeriusBeta - Not investment advice
Research · S&P 500 · Financials
KKR · KKR & Co.
The numbers, the scorecard and what analysts say, with the source for each. Information, not advice.
Value Scorecard · run 2026-10-18
13 value checks: 12 scored 1 to 5 where the data allows, plus moat evidence
29/45
moderate value score9 of 12 checks scored9 of the 12 checks that carry a score were scored from the data available. 3 could not be scored (ROIC, DCF Value, Margin of Safety) and were left out, so the score is out of 45 instead of 60. The label uses the same share of the available points as for a full scorecard. The moat is shown as evidence from the filings, without a score.
Earnings & returns
EPS Trend
3/5Diluted EPS: -$0.79 (2022), $4.09 (2023), $3.28 (2024), $2.34 (2025). It ended above 2022 but did not rise in 2 of 3 years; the framework scores that as 3.
ROE Trend
3/5ROE (net income / common equity): -3.3% (2022), 16.1% (2023), 13.0% (2024), 7.9% (2025). Median 10.4%, lowest -3.3%; the framework scores a median 10-15% as 3.
ROIC
Not scoredROIC not available: the 10-K financial data filed with the SEC has no standard operating income figure (or pre-tax income and interest expense), total assets and current liabilities for the same fiscal year.
Profit Margins
4/5Net margin of 12.2%; the framework scores 10-20% as 4; gross margin 54.8%, operating margin 20.6%.
Balance sheet & cash
Debt-to-Equity
4/5Debt-to-equity of 0.70; the framework scores 0.3-0.8 as 4 (total debt $56.16B, total cash $47.56B).
Free Cash Flow
4/5Free cash flow (operating cash flow minus capital expenditure): -$5.36B (2022), -$1.60B (2023), $6.51B (2024), $317.00M (2025). It rose every year but one and ended above 2022; the framework scores that as 4.
Retained Earnings
5/5Retained earnings, as filed in the 10-Ks (SEC EDGAR): $6.70B (2022), $9.82B (2023), $12.28B (2024), $13.88B (2025). It rose every year; the framework scores that as 5.
Valuation models
Graham IV
1/5IV = EPS x (8.5 + 2g) x (4.4 / Y) = $3.13 x (8.5 + 2 x 0.0) x (4.4 / 4.5) = $26.01 (EPS CAGR -24.4% floored at 0%; the formula returns a negative value below -4.25% growth). Current price $86.21; price is 231.4% above the model value.
DCF Value
Not scoredFree cash flow or share count is not available from the data source, so no DCF value is computed.
Margin of Safety
Not scoredNeeds both a Graham value and a DCF value. Graham value $26.01 (price is 231.4% above the model value); DCF value N/A (not comparable).
Price-to-Book
3/5P/B of 2.72; the framework scores 1.5-3.0 as 3.
Business quality
Moat Evidence
Not scoredA moat (a brand, a network, switching costs, patents, scale, a licence) is not a number in the filings, so Valerius doesn’t score it. Below are the figures and the words moat analysis starts from, from the company’s own 10-K filings. The conclusion is yours.
Return on capital, each year
Not available: the 10-K financial data has no standard figures for operating income, total assets and current liabilities in the same years, as is common for banks, insurers and REITs.
Gross margin, each year
Not reported: the filings don’t state a gross profit or cost of revenue figure, as is common for oil and gas companies, banks and insurers.
Competition, in the company’s own words · 10-K filed Feb 27, 2026
Our asset management and capital markets businesses operate in an intensely competitive industry. We compete globally and on a regional, industry and product-specific basis. The firm's competitors consist primarily of traditional and alternative asset managers that sponsor public and private investment vehicles, investment banks (including activities conducted by their broker-dealers and investment advisers), commercial finance companies, and operating companies acting as strategic buyers. These competitors compete with us on a global basis, and we also face competition from local and regional firms, financial institutions, and sovereign wealth funds in the various countries in which we invest. We believe that competition for fundraising for institutional and individual investor capital is based on a variety of factors, including investment performance, investor liquidity and willingness to invest, investor reputation, including focus and alignment of interest, duration of relationships, quality of services, and pricing and fund terms, including fees. We believe that competition for investment opportunities and capital markets transactions is based primarily on pricing, terms, and structure of a proposed transaction and certainty of execution.
The opening of the company’s “Competition” section in its 10-K, quoted word for word, not summarized or edited. It is the company’s own description, not Valerius’s view, and may include the company’s expectations. Open the filing.
Return on capital = operating income / (total assets − current liabilities), the ROIC row’s definition; 15% is the framework’s return threshold. Gross margin = gross profit / revenue. Both from each year’s 10-K via SEC EDGAR. Moat analysis commonly looks at whether returns and margins held up over many years. These figures don’t say whether the company has an advantage, what it is, or whether it will last.
Capital Allocation
2/5Capital allocation, 2022-2025: dividends or buybacks paid in every year (pass); $3.15B paid out against -$141.18M of free cash flow (fail: free cash flow was negative); total debt $44.07B to $54.54B, up 23.7%, 5.4x EBITDA (fail: up more than 10% and above 2x EBITDA); shares outstanding 0.86B to 0.89B, up 3.5% (fail: up more than 2%). 1 of 4 tests passed; the framework scores that as 2.
Filings
Company notices to the SEC
Not scoredThree kinds of event the company reported to the SEC in the last 5 years, from its filings on SEC EDGAR.
Loading...
These are events the company reported to the SEC. An auditor change or a late filing can have many causes; each date links to the filing, where the company explains it. Valerius does not score these.
How the Graham and DCF values were calculated
Graham Formula:
IV = EPS x (8.5 + 2g) x (4.4 / Y)
EPS = $3.13, g = 0.0%, Y = 4.5
g floored at 0.0% (3-year EPS CAGR was -24.4%; below -4.25% the formula returns a negative value)
IV = $26.01
Current price $86.21 vs Graham value $26.01 — price is 231.4% above the model value.
DCF:
Free cash flow or share count not available from the data source — no value computed.Data from yfinance summary figures and financial statements, and from the company’s 10-K filings via SEC EDGAR; computed at a price of $86.21. Every score is calculated from the figures by the framework’s fixed rules, and the explanation beside it is generated from the same figures: Graham value, DCF value, margin of safety, ROIC, profit margins, debt-to-equity, price-to-book, EPS trend, ROE trend, free cash flow, retained earnings and capital allocation. No AI is involved in this scorecard. The moat is shown as evidence, without a score. Read each score with the figures beside it. A check that cannot be scored from the available data is shown as not scored and left out of the composite score. Intrinsic value calculations are model outputs based on stated assumptions, not predictions.
Recent headlines · third-party publishers · not investment advice
In the news
- Loading headlines...
The 8 newest headlines whose title names the company, shown automatically and never chosen by Valerius. From third-party publishers via Yahoo Finance, linked to the source. Valerius doesn't write or endorse them. Not investment advice.