Company profile

Ticker
KKR
Exchange
Website
CEO
Henry R. Kravis / George Rosenberg Roberts
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
Former names
KKR & Co. L.P.
SEC CIK

KKR stock data

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FINRA relative short interest over last month (20 trading days) ?

Calendar

18 Feb 20
27 Feb 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Dec 19 Sep 19 Jun 19 Mar 19
Revenue 1.06B 790.49M 1.18B 1.19B
Net income 523.44M 249.55M 522.73M 709.32M
Net profit margin 49.24% 31.57% 44.30% 59.73%
Net change in cash -340.27M 543.93M 334.69M 57.08M
Cash on hand 2.35B 2.69B 2.14B 1.81B
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 4.22B 2.4B 3.56B 2.04B
Net income 2.01B 1.13B 1.02B 309.31M
Net profit margin 47.50% 47.21% 28.63% 15.16%
Net change in cash 595.43M -125.4M -632.22M 1.46B
Cash on hand 2.35B 1.75B 1.88B 2.51B

Financial data from KKR & Co. earnings reports

76.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 461 419 +10.0%
Opened positions 84 60 +40.0%
Closed positions 42 54 -22.2%
Increased positions 138 122 +13.1%
Reduced positions 135 142 -4.9%
13F shares
Current Prev Q Change
Total value 12.57B 11.32B +11.0%
Total shares 427.9M 421.69M +1.5%
Total puts 4.83M 5.17M -6.6%
Total calls 4.97M 4.18M +19.0%
Total put/call ratio 1.0 1.2 -21.5%
Largest owners
Shares Value Change
Vanguard 47.85M $1.4B +1.6%
ValueAct 45.78M $1.34B -4.8%
Vulcan Value Partners 30.12M $878.47M +4.3%
PFG Principal Financial 21.59M $629.77M +3.9%
Jackson Square Partners 19.3M $563.03M -21.9%
N Price T Rowe Associates 17.22M $502.42M +0.6%
BLK BlackRock 15.07M $439.71M +3.3%
Akre Capital Management 12.75M $372.06M 0.0%
FMR 12.15M $354.41M +24.2%
Diamond Hill Capital Management 10.03M $292.65M +11.7%
Largest transactions
Shares Bought/sold Change
Jackson Square Partners 19.3M -5.42M -21.9%
Putnam Investments 2.89M -5.03M -63.5%
Alkeon Capital Management 5.05M +3.95M +359.1%
IVZ Invesco 7.43M +3.3M +80.0%
Egerton Capital 3.79M -2.55M -40.2%
FMR 12.15M +2.37M +24.2%
ValueAct 45.78M -2.32M -4.8%
WDR Waddell & Reed Financial 2.48M +2.31M +1388.3%
Amundi Pioneer Asset Management 5.4M +2.18M +67.9%
Citadel Advisors 5.52M -1.93M -25.9%

Financial report summary

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Risks
  • Difficult market and economic conditions can adversely affect our business in many ways, including by reducing the value or performance of the investments that we manage or by reducing the ability of our funds to raise or deploy capital, each of which could negatively impact our net income and cash flow and adversely affect our financial prospects and condition.
  • Changes in the debt financing markets may negatively impact the ability of our investment funds, their portfolio companies and strategies pursued with our balance sheet assets to obtain attractive financing for their investments or to refinance existing debt and may increase the cost of such financing or refinancing if it is obtained, which could lead to lower-yielding investments and potentially decrease our net income.
  • We have significant liquidity requirements, and adverse market and economic conditions may adversely affect our sources of liquidity, which could adversely affect our business operations in the future.
  • The "clawback" provisions in our governing agreements may give rise to a contingent obligation that may require us to return or contribute amounts to our funds and fund investors.
  • Strategic investor partnerships have longer investment periods and invest in multiple strategies, which may increase the possibility of a "netting hole," which will result in less carried interest for us, as well as clawback liabilities.
  • Our earnings and cash flow are highly variable due to the nature of our business and we do not intend to provide earnings guidance, each of which may cause the value of interests in our business to be volatile.
  • A decline in the pace or size of investment by our funds would result in our receiving less revenue from fees.
  • Our inability to raise additional or successor funds (or raise successor funds of a comparable size as our predecessor funds) could have a material adverse impact on our business.
  • Our investors in future funds may negotiate to pay us lower management fees, reimburse us for fewer expenses or change the economic terms of our future funds, including with respect to transaction fees, management fees or monitoring fees, to be less favorable to us than those of our existing funds, which could materially and adversely affect our revenues or profitability.
  • The investment management business is intensely competitive, which could have a material adverse impact on our business.
  • We are subject to increasing focus by our fund investors, our stockholders and regulators on environmental, social and governance ("ESG") matters.
  • Changes in relevant tax laws, regulations or treaties or an adverse interpretation of these items by tax authorities could adversely impact our effective tax rate and tax liability.
  • We depend on our founders and other key personnel, the loss of whose services could have a material adverse effect on our business, results of operations and financial condition.
  • If we cannot retain and motivate our employees and other key personnel and recruit, retain and motivate new employees and other key personnel, our business, results of operations and financial condition could be materially and adversely affected.
  • Operational risks and data security breaches may disrupt our businesses, result in losses or limit our growth.
  • Our organizational documents do not limit our ability to enter into new lines of businesses, and we may expand into new investment strategies, geographic markets and businesses, each of which may result in additional risks and uncertainties in our businesses.
  • We may not be successful in executing upon or managing the complexities of new investment strategies, markets and businesses, which could adversely affect our business, results of operations and financial condition.
  • If we are unable to syndicate the securities or indebtedness or realize returns on investments financed with our balance sheet assets, our liquidity, business, results of operations and financial condition could be materially and adversely affected.
  • Extensive regulation of our businesses affects our activities and creates the potential for significant liabilities and penalties. The possibility of increased regulatory focus or legislative or regulatory changes could materially and adversely affect our business.
  • We face significant liabilities and damage to our professional reputation as a result of litigation allegations and negative publicity.
  • Certain types of investment vehicles may subject us to additional risk of litigation and regulatory scrutiny.
  • Misconduct of our employees, consultants or sub-contractors or by our portfolio companies could harm us by impairing our ability to attract and retain clients and subjecting us to significant legal liability and reputational harm.
  • Underwriting, syndicating and securities placement activities expose us to risks.
  • We are subject to risks in using third-party service providers, including prime brokers, custodians, administrators and other agents.
  • Risks Related to the Assets We Manage
  • The historical returns attributable to our funds, including those presented in this report, should not be considered as indicative of the future results of our funds or our balance sheet investments, of our future results or the performance of our common stock.
  • Valuation methodologies for certain assets in our funds and on our balance sheet can be subjective and the fair value of assets established pursuant to such methodologies may never be realized, which could result in significant losses for our funds and us.
  • Our investments are impacted by various economic conditions and events outside of our control that are difficult to quantify or predict, which may have a significant impact on the valuation of our investments and, therefore, on the investment income we realize and our results of operations and financial condition.
  • Dependence on significant leverage in investments by our funds and our balance sheet assets could adversely affect our ability to achieve attractive rates of return on those investments.
  • The due diligence process that we undertake in connection with our investments may not reveal all facts that may be relevant in connection with an investment.
  • Our investment management activities involve investments in relatively high-risk, illiquid assets, and we may fail to realize any profits from these activities for a considerable period of time or lose some or all of the capital invested.
  • Our investments are subject to a number of inherent risks.
  • Our investments in real assets such as real estate, infrastructure and energy may expose us to increased risks and liabilities and may expose our stockholders to adverse consequences.
  • Our growth equity strategy invests in emerging and less established companies that are heavily dependent on new technologies.
  • Certain of our funds and CLOs, and our firm through our balance sheet, hold high-yield, below investment grade or unrated debt, or securities of companies that are experiencing significant financial or business difficulties, which generally entail greater risk, and if those risks are realized, it could materially and adversely affect our results of operations, financial condition and cash flow.
  • We often pursue investment opportunities that involve business, regulatory, legal or other complexities.
  • Our private equity investments are typically among the largest in the industry, which involves certain complexities and risks that are not encountered in small- and medium-sized investments.
  • We and our funds have made investments in companies that we do not control, exposing us to the risk of decisions made by others with which we may not agree.
  • We make investments in companies that are based outside of the United States, which may expose us to additional risks not typically associated with investing in companies that are based in the United States.
  • Third-party investors in our funds with commitment-based structures may not satisfy their contractual obligation to fund capital calls when requested by us, which could adversely affect a fund's operations and performance.
  • Our equity investments and many of our debt investments often rank junior to investments made by others, exposing us to greater risk of losing our investment.
  • Risk management activities may adversely affect the return on our investments.
  • Our funds and our firm through our balance sheet may make a limited number of investments, or investments that are concentrated in certain issuers, geographic regions or asset types, which could negatively affect our performance or the performance of our funds to the extent those concentrated assets perform poorly.
  • Our business activities may give rise to a conflict of interest with our funds.
  • Investors in certain funds in our Public Markets business line may redeem their investments in these funds with minimal notice.
  • Our stakes in our hedge fund partnerships subject us to numerous additional risks.
  • The market price and trading volume of our Class A common stock may be volatile, which could result in rapid and substantial losses for our Class A common stockholders.
  • An investment in our Class A common stock is not an investment in any of our funds, and the assets and revenues of our funds are not directly available to us.
  • Our Class A common stock price may decline due to the large number of shares eligible for future sale or for exchange, and issued or issuable pursuant to our equity incentive plans or as consideration in acquisitions.
  • Our certificate of incorporation also provides us with a right to acquire all of the then outstanding shares of Class A common stock under specified circumstances, which may adversely affect the price of our shares of Class A common stock and the ability of holders of shares of Class A common stock to participate in further growth in our stock price.
  • The Class B Stockholder may transfer its interest in the sole share of Class B Common Stock which could materially alter our operations.
  • We intend to pay periodic dividends to the holders of our Class A common stock and preferred stock, but our ability to do so may be limited by our holding company structure and contractual restrictions.
  • We will be required to pay our principals for most of the benefits relating to our use of tax attributes we receive from prior and future exchanges of our Class A common stock for KKR Group Partnership Units and related transactions, and the timing and value of these tax attributes differ from those of our restricted stock units.
  • If we were deemed to be an "investment company" subject to regulation under the Investment Company Act, applicable restrictions could make it impractical for us to continue our business as contemplated and could have a material adverse effect on our business.
  • Other anti-takeover provisions in our charter documents could delay or prevent a change in control.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
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