Earnings Calendar (04May2026)
In the coming week the most anticipated earnings releases include that of Palantir, Tyson, Berkshire Hathaway, AMD, PayPal, Walt Disney, KKR, and McDonald’s.
Who is KKR?
KKR & Co. Inc. is a leading global investment firm founded in 1976 that pioneered the private equity industry. As of early 2026, it manages approximately $744 billion in assets, operating across private equity, credit, infrastructure, real estate, and capital markets. Known for its hands-on “one-firm” approach, KKR aims for operational excellence in its portfolio companies, holding investments for 5–7 years. The firm has evolved into a diversified alternative asset manager, including a major insurance business through Global Atlantic. Led by co-CEOs Joe Bae and Scott Nuttall, KKR operates worldwide and is headquartered in New York.
(The above is summarized by Gemini.)
Stock Performance and Valuation
Over the past year, KKR & Co. Inc.’s stock price has declined by approximately 10.8%. The company’s current price-to-earnings (P/E) ratio stands at around 44.2, with earnings per share (EPS) reported at $2.51.
Analyst Recommendations
Technical analysis indicates a “strong buy” recommendation for KKR shares. In addition, analyst sentiment supports a “buy” rating, reflecting positive outlooks on the company’s future performance.
Price Target and Potential Upside
KKR has a price target of $122.61, which represents a potential upside of 18.26% from its current trading level.
Revenue Trends (2021–2025)
Examining the company’s revenue over the past five years, KKR generated $24.8 billion in 2021. Despite a significant drop to $5.5 billion in 2022, the business demonstrated resilience, with revenues recovering and reaching $25.6 billion by the end of 2025.
Operating income has experienced a decline, decreasing from $13.8 billion in 2021 to $7 billion in 2025.
In terms of net income, KKR posted $4.7 billion in 2021. However, net income fell to $2.3 billion in 2025. Notably, 2022 marked the most challenging year in the five-year period, with the company reporting a net loss of $521 million.
Total Assets
Over the period from 2021 to 2025, KKR’s total assets saw significant growth. In 2021, total assets were recorded at $264.2 billion. By 2025, this figure had increased substantially, reaching $410 billion. This upward trend reflects the company’s expanding financial base during the five-year period.
Liabilities
Alongside asset growth, KKR’s liabilities also increased. In 2021, liabilities stood at $206 billion. By 2025, they had risen to $328 billion, indicating a higher level of commitments and obligations as the business expanded.
Total Debt
The company’s total debt also increased over the same timeframe. In 2021, KKR reported total debt of $38.9 billion. By 2025, this figure had grown to $53.8 billion, highlighting a greater reliance on borrowed capital.
Cash from Operations
Cash flow from operations presents some concerns, as KKR reported a negative $7.1 billion in 2021. By 2025, the situation improved, but the year still ended with a relatively modest positive cash flow of $477 million. This fluctuation highlights volatility in the company’s core operating cash generation over the period.
Cash from Investing Activities
Cash used in investing activities followed a downward trend throughout the five-year span. In 2021, KKR recorded a cash drawdown of $9.6 billion from investing activities, and by 2025, this drawdown had deepened to $16.2 billion. This pattern underscores increased investments or outflows related to investment activities during this timeframe.
Cash from Financing Activities
Another area of note is the company’s reliance on cash generated from financing activities. In 2021, KKR raised $20.3 billion through financing, and in 2025, the figure remained high at $17.4 billion. This sustained dependence on external financing sources is a point of concern, as it reflects the business’s ongoing need to support operations and investments through additional capital raising.
KKR Q1 2026 News Summary (by Gemini)
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Corporate & Investment Activity: KKR demonstrated strong momentum, securing over $10 billion in financing for AI infrastructure and participating in a $6.7 billion consortium bid for DCC. KKR also competed for a stake in Shell’s LNG Canada project alongside other major alternative asset managers.
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Market Strategy: In its Q1 2026 Playbook, KKR highlighted the transition to a higher rate regime. The firm emphasized portfolio diversification and high-conviction deployment, favoring asset-backed cash flows and infrastructure to mitigate volatility.
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Real Estate Finance (KREF): KKR Real Estate Finance Trust faced headwinds, reporting a GAAP net loss of $62 million. The decline reflects a deliberate strategic shift to resolve watchlist assets and reduce legacy office exposure.
KKR earnings
For the coming earnings release, the forecast EPS and Revenue are $1.34 and $2.24B, respectively.
Given the recent trend, I prefer to monitor KKR for now.
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