Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
KKR delivered strong Q1 FY2026 results with revenue surging 38.8% YoY to $4.32B and a return to profitability with net income of $405.2M, though operating cash flow declined 31.5% and the firm carries a high debt-to-equity ratio of 10.86x.
Revenue
$4.32B
+38.83% YoY
Source: SEC XBRL
KKR & Co (KKR) reported Q1 FY2026 revenue of $4.32B, up 38.8% year over year. Operating cash flow was $1.75B, down 31.5% year over year. KKR's fiscal Q1 FY2026 corresponds to calendar Q1 2026.
Last 4 quarters: 4 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 1.63 | 1.43 | Beat +14.3% |
| Mar 2026This filing | 1.39 | 1.30 | Beat +6.6% |
| Dec 2025 | 1.30 | 1.17 | Beat +10.7% |
| Sep 2025 | 1.41 | 1.31 | Beat +7.7% |
Reported EPS of $1.39 versus the $1.30 analyst consensus — a +6.6% beat for Mar 2026.
Compiled by AI from this SEC filing
KKR's total revenue jumped 38.8% year-over-year from $3.11B to $4.32B in Q1 FY2026, reflecting strong performance across its asset management and insurance segments driven by robust fee income and investment gains.
Source: 10-Q Financial Data, Income Statement
Net income swung dramatically from a loss of $185.9M in Q1 FY2025 to a profit of $405.2M in Q1 FY2026, a 318% improvement, indicating a significant recovery in investment valuations and realized gains.
Source: 10-Q Financial Data, Income Statement
Total assets grew 10.7% YoY to $412.1B, while stockholders' equity increased 11.0% to $30.5B, reflecting continued growth in KKR's managed assets and insurance liabilities on its consolidated balance sheet.
Source: 10-Q Financial Data, Balance Sheet
Despite strong earnings, operating cash flow fell 31.5% YoY to $1.75B from $2.55B, suggesting timing differences in cash realizations from investments or working capital changes that may normalize over subsequent quarters.
Source: 10-Q Financial Data, Cash Flow Statement
KKR initiated share buybacks of $191.2M in Q1 FY2026 (versus none in Q1 FY2025), while financing cash flow turned sharply negative to -$1.69B from +$3.60B, indicating a shift from capital raising to capital return activity.
Source: 10-Q Financial Data, Cash Flow Statement
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
KKR's debt-to-equity ratio stands at an extremely high 10.86x, reflecting the consolidated nature of its insurance and credit businesses. While typical for alternative asset managers with insurance subsidiaries, this level of leverage amplifies sensitivity to credit market disruptions and rising interest rates.
Source: 10-Q Financial Data, Balance Sheet
KKR's net income swung from a $185.9M loss to a $405.2M profit in just one year, highlighting significant earnings volatility tied to unrealized gains and losses on its investment portfolio. This makes reported earnings difficult to predict and can mislead investors focused on GAAP net income.
Source: 10-Q Financial Data, Income Statement
Operating cash flow of $1.75B declined 31.5% YoY despite a strong improvement in net income, creating a notable divergence between reported earnings and cash generation. This gap may reflect timing of fee receipts, investment realizations, or changes in insurance-related liabilities.
Source: 10-Q Financial Data, Cash Flow Statement
KKR's revenue is heavily dependent on performance fees, management fees, and investment income from private equity, credit, and real assets. A downturn in private markets or reduced deal activity could materially impact fee revenues and realized gains.
Source: 10-Q Financial Data, Income Statement
Financing cash flow reversed sharply from +$3.60B in Q1 FY2025 to -$1.69B in Q1 FY2026, a swing of over $5.3B. This could indicate reduced debt issuance or fund capital raising, which if sustained, may constrain KKR's ability to deploy capital into new investments.
Source: 10-Q Financial Data, Cash Flow Statement
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 4.32 $B | 3.11 $B | +38.83% |
Net Income $M | 405.23 $M | -185.92 $M | +317.95% |
Answers draw on this SEC filing and the data on this page
KKR reported robust second-quarter fiscal 2026 results with revenue up 12.5% and net income surging 37.3%, driven by strong asset management and insurance contributions, while significantly boosting share buybacks.
KKR's FY2025 10-K shows revenue declining 11.0% to $19.5B and net income falling 22.9% to $2.4B, while total assets grew 13.9% to $410.1B and stockholders' equity surged 30.7%, reflecting the firm's continued balance sheet expansion amid softer earnings.
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