KKR & Co. is scheduled to report its fourth-quarter results on February 5, 2026, with analysts forecasting earnings per share of $1.21 and revenue of $1.78 billion. The forecast reflects a modest year-over-year earnings dip, but continues a streak of outperformance against consensus estimates: KKR has beaten Zacks Consensus EPS forecasts in each of the past four quarters. Investors will focus on management fee growth, transaction fee trends within the capital markets segment and expense management as the firm navigates higher operating costs.

Revenue momentum is underpinned by a 20.4% increase in management fees and a 16.1% expansion in assets under management in Q4 2025. The firm’s alternative asset portfolios—including private equity, infrastructure, real estate and credit—have attracted fresh capital commitments, boosting fee-related earnings. Transaction fees within its capital markets business also contributed to quarterly revenue growth, despite a modest uptick in operating expenses tied to technology investments and talent acquisition.

KKR joined a consortium led by Singapore’s Singtel to acquire the remaining stake in ST Telemedia Global Data Centres for $10.9 billion. The deal expands KKR’s exposure to hyperscale and edge data-center assets across Asia, positioning the firm to capitalize on surging demand for cloud services and artificial intelligence infrastructure. This transaction marks one of the largest private equity-backed data-center deals in the region and underscores KKR’s shift toward technology-enabled real assets.

KKR is preparing beauty group Wella Company—owner of the OPI nail polish brand—for a U.S. initial public offering later this year, targeting a valuation significantly above the $4.3 billion purchase price paid in 2020. Concurrently, KKR has monetized noncore assets through the divestiture of Janney units, redirecting capital to core alternative investment strategies. These moves aim to crystallize gains, optimize the firm’s balance sheet and support long-term growth initiatives across its global platform.

As of the end of Q4 2025, KKR carried a price-to-earnings ratio of approximately 39.1 and a price-to-sales ratio near 5.5, reflecting the premium investors assign to its fee-earning model. The firm’s enterprise-value-to-sales stood at about 7.4 and enterprise-value-to-operating-cash-flow at roughly 23.5, highlighting robust cash flow generation. With a debt-to-equity ratio of 1.83 and a current ratio of 4.2, KKR maintains ample liquidity to fund asset-level investments and strategic acquisitions while managing leverage within target ranges.