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KKR: the asset-management machine still has to prove earnings quality through the cycle

KKRResearch reportPosted by Goglides ResearchMay 20, 2026
NYSEKKRCoverage BootstrapKKR & Co. Inc.

Thesis summary

KKR reported 2025 revenue of $19.46 billion, pretax continuing income of $7.10 billion and latest cash plus restricted cash of $19.49 billion. The Coverage Bootstrap question is whether asset growth and investment income can translate into durable shareholder earnings through markets that do not always cooperate.

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KKR reported 2025 revenue of $19.46 billion, pretax continuing income of $7.10 billion and latest cash plus restricted cash of $19.49 billion. The Coverage Bootstrap question is whether asset growth and investment income can translate into durable shareholder earnings through markets that do not always cooperate.

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