Financials KKR & Co. Inc.

Equities

KKR

US48251W1045

Investment Management & Fund Operators

Market Closed - Nyse Other stock markets 21:00:02 10/07/2025 BST			5-day change	1st Jan Change
143.05 ^USD	+2.75%		+6.33%	-3.29%

07-10	Deutsche Bank Adjusts Price Target on KKR to $148 From $143, Maintains Buy Rating	MT
07-10	Barclays Adjusts Price Target on KKR & Co. to $155 From $141, Maintains Overweight Rating	MT

Projected Income Statement: KKR & Co. Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	2,121	3,122	6,834	5,602	7,122	7,983	10,453	12,317
Change	-	47.17%	118.94%	-18.04%	27.14%	12.09%	30.94%	17.84%
EBITDA ¹	2,253	4,922	4,565	4,233	5,560	5,891	8,900	10,408
Change	-	118.49%	-7.26%	-7.27%	31.33%	5.97%	51.06%	16.95%
EBIT ¹	2,041	4,896	4,531	4,187	5,510	6,115	8,070	9,987
Change	-	139.94%	-7.46%	-7.61%	31.6%	10.99%	31.97%	23.75%
Interest Paid ¹	-211	-250.2	-315.2	-357.1	-302.4	-339.6	-345	-302
Earnings before Tax (EBT) ¹	-	13,648	-	4,414	4,968	9,269	11,380	7,413
Change	-	-	-	-	12.54%	86.59%	22.77%	-34.86%
Net income ¹	1,946	4,561	-910.1	3,681	3,076	2,066	4,366	5,232
Change	-	134.37%	-119.96%	504.39%	-16.42%	-32.84%	111.3%	19.86%
Announcement Date	08/02/21	08/02/22	07/02/23	06/02/24	04/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	446	573.9	675.4	585.7	639.4	818.6	962.8	1,902	1,780	1,671	1,482	1,276	1,231	1,464	1,631	1,393	1,728	1,960	2,041	1,766	1,830	2,045	2,384	2,219	2,566	2,661	3,033
Change	-	28.67%	17.7%	-13.28%	9.17%	28.02%	17.62%	97.51%	-6.39%	-6.14%	-11.31%	-13.92%	-3.46%	18.85%	11.43%	-14.6%	24.08%	13.41%	4.15%	-13.48%	3.63%	11.76%	16.58%	-6.94%	15.63%	3.71%	13.96%
EBITDA ¹	480.6	585.3	672.5	886.6	-	-	1,724	1,251	1,098	1,095	1,121	993.9	933.3	1,092	1,214	1,167	1,303	1,646	1,512	1,399	1,303	1,465	1,799	1,835	2,047	2,081	2,377
Change	-	21.79%	14.9%	31.84%	-	-	-	-27.44%	-12.24%	-0.26%	2.38%	-11.34%	-6.09%	17.04%	11.1%	-3.81%	11.59%	26.4%	-8.16%	-7.46%	-6.87%	12.38%	22.83%	2%	11.55%	1.66%	14.22%
EBIT ¹	449.1	551.3	568	880.4	1,116	1,183	1,716	1,243	1,090	1,086	1,112	983.5	922.3	1,080	1,201	1,155	1,290	1,633	1,500	1,386	1,384	1,562	1,838	1,755	1,909	1,997	2,202
Change	-	22.76%	3.04%	55%	26.81%	5.94%	45.11%	-27.56%	-12.33%	-0.38%	2.37%	-11.53%	-6.22%	17.05%	11.28%	-3.86%	11.71%	26.62%	-8.16%	-7.6%	-0.16%	12.86%	17.66%	-4.51%	8.8%	4.61%	10.26%
Charge d'intérêts ¹	-50.78	-54.46	-58.36	-57.54	-64.11	-63.45	-65.08	-69.46	-76.62	-83.34	-85.78	-85.5	-92.01	-89.43	-90.14	-87	-77.1	-80.71	-71.76	-74.51	-84.4	-83.62	-83.62	-87.17	-87.17	-87.17	-87.17
Earnings before Tax (EBT)	-	551.3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	04/08/20	30/10/20	08/02/21	04/05/21	03/08/21	02/11/21	08/02/22	03/05/22	02/08/22	01/11/22	07/02/23	08/05/23	07/08/23	07/11/23	06/02/24	01/05/24	31/07/24	24/10/24	04/02/25	01/05/25	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: KKR & Co. Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	28,061	31,878	36,021	27,126	34,769	3,977	2,674	-1,414
Change	-	13.6%	13%	-24.69%	28.18%	-88.56%	-32.76%	-152.88%
Announcement Date	08/02/21	08/02/22	07/02/23	06/02/24	04/02/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: KKR & Co. Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	153.4	102	85.06	108.4	141.5	130.1	132.8	134.4
Change	-	-33.47%	-16.65%	27.44%	30.58%	-8.09%	2.11%	1.14%
Free Cash Flow (FCF) ¹	-6,107	-7,279	-5,364	-1,602	6,508	4,636	6,990	8,669
Change	-	-19.19%	26.3%	70.13%	506.21%	-28.77%	50.8%	24.02%
Announcement Date	08/02/21	08/02/22	07/02/23	06/02/24	04/02/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: KKR & Co. Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	106.21%	157.68%	66.8%	75.57%	78.06%	73.8%	85.14%	84.5%
EBIT Margin (%)	96.21%	156.85%	66.3%	74.74%	77.36%	76.6%	77.2%	81.08%
EBT Margin (%)	-	437.24%	-	78.8%	69.75%	116.12%	108.87%	60.18%
Net margin (%)	91.75%	146.11%	-13.32%	65.71%	43.19%	25.88%	41.76%	42.48%
FCF margin (%)	-287.94%	-233.18%	-78.49%	-28.6%	91.38%	58.07%	66.87%	70.38%
FCF / Net Income (%)	-313.83%	-159.59%	589.4%	-43.53%	211.57%	224.38%	160.13%	165.68%
Profitability
ROA	-	2.65%	1.28%	1.19%	1.24%	2.1%	2.3%	1%
ROE	15.87%	29.14%	19.56%	16.86%	18.07%	15.04%	14.33%	15.76%
Financial Health
Leverage (Debt/EBITDA)	12.46x	6.48x	7.89x	6.41x	6.25x	0.68x	0.3x	-
Debt / Free cash flow	-4.59x	-4.38x	-6.72x	-16.93x	5.34x	0.86x	0.38x	-
Capital Intensity
CAPEX / Current Assets (%)	7.23%	3.27%	1.24%	1.94%	1.99%	1.63%	1.27%	1.09%
CAPEX / EBITDA (%)	6.81%	2.07%	1.86%	2.56%	2.55%	2.21%	1.49%	1.29%
CAPEX / FCF (%)	-2.51%	-1.4%	-1.59%	-6.77%	2.17%	2.81%	1.9%	1.55%
Items per share
Cash flow per share ¹	-10.2	-11.34	-7.044	-1.638	6.954	4.121	5.107	6.58
Change	-	-11.13%	37.86%	76.74%	524.46%	-40.74%	23.93%	28.84%
Dividend per Share ¹	0.54	0.58	0.62	0.66	0.7	0.743	0.7911	0.909
Change	-	7.41%	6.9%	6.45%	6.06%	6.14%	6.47%	14.91%
Book Value Per Share ¹	23.09	28.77	26.73	30.95	26.63	37.46	43.73	50.92
Change	-	24.6%	-7.09%	15.79%	-13.97%	40.68%	16.74%	16.44%
EPS ¹	3.37	7.31	-1.21	4.09	3.28	2.665	4.857	6.302
Change	-	116.91%	-116.55%	438.02%	-19.8%	-18.74%	82.22%	29.75%
Nbr of stocks (in thousands)	569,189	585,009	861,112	885,009	888,229	890,642	890,642	890,642
Announcement Date	08/02/21	08/02/22	07/02/23	06/02/24	04/02/25	-	-	-