KKR Group Finance Co. IX LLC 4.625% Subordinated Notes due 2061 (KKRS)

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at this as a debt instrument, not an equity. The issuer's filed figures show fiscal 2025 revenue of $19.5B and net income of $2.4B, down from $21.9B revenue and $3.1B net income in fiscal 2024; fiscal 2023 had $14.5B revenue and $3.7B net income. The latest filed quarter, fiscal Q2 2026 ended 2026-06-30, showed $5.7B revenue and $700.5M net income, up from $5.1B and $510.1M in fiscal Q2 2025. Fiscal Q1 2026 had $4.3B revenue and $405.2M net income. Those are real profits, but the annual trend is uneven and declining in fiscal 2025. The security is a 4.625% subordinated note due 2061, so I care about credit quality and duration; the data lacks debt ratios, coverage, and balance-sheet detail. The moat cannot be assessed from these figures alone. At the $15.26 close on 2026-10-16, FairStock's P/E, P/B, ROE and other return metrics are N/A, and the FairStock Score is N/A, so price-based valuation is unavailable. The price is near the low end of the $15.01-$18.61 52-week range. A long fixed coupon maturing in 2061 carries meaningful interest-rate and inflation risk, and subordination raises loss severity if trouble comes. The Lynch category is TURNAROUND - returned to profit after a loss within the last 3 years - but the filed periods shown all have positive net income, so I would verify that label before relying on it. Overall, the operating numbers are not distress-level, but the security lacks the margin of safety and data I require.

In plain English: This is a KKR debt security that matures in 2061 and ranks below some other obligations, so its value depends on KKR's ability to pay and on interest rates. The filed numbers show positive revenue and net income, but results have moved up and down across years. The price is near the bottom of its one-year range, but without stock-style valuation or yield data it is hard to call it cheap or expensive from the figures given.

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Data as of 2026-10-16 close · note generated 2026-10-20 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer