KKR vs MS
KKR & Co. Inc. and Morgan Stanley, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | KKR | MS |
|---|---|---|
| Revenue | $19.5B | $70.6B |
| Net income | $2.4B | $16.9B |
| Gross margin | — | — |
| Net margin | 12.2% | 23.9% |
| Return on equity | 8.7% | 15.6% |
| Diluted EPS | $3.28 | $10.21 |
| Dividend / share | $0.73 | $3.85 |
| Payout ratio | 27.4% | 39.1% |
| Free cash flow | $-5.9B | — |
| Equity | $30.9B | $111.6B |
| Net debt / equity | 1.50× | 2.06× |
| Current ratio | — | — |
| Revenue CAGR 5y | 35.7% | 7.7% |
| Profit CAGR 5y | 3.4% | 8.9% |
MS bills 3.6× the revenue of KKR, and keeps more of each dollar of revenue as profit (23.9% against 12.2%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
10 years side by side
| Fiscal year | KKR | MS |
|---|---|---|
| FY2025 | $19.5B | $70.6B |
| FY2024 | $21.9B | $61.8B |
| FY2023 | $14.5B | $54.1B |
| FY2022 | $5.7B | $53.7B |
| FY2021 | $16.2B | $59.8B |
| FY2020 | $4.2B | $48.8B |
| FY2019 | $4.2B | $41.5B |
| FY2018 | $1.8B | $40.1B |
| FY2017 | $1.5B | $37.9B |
| FY2016 | $1.1B | $34.6B |
Net income by year
Bottom line
| Fiscal year | KKR | MS |
|---|---|---|
| FY2025 | $2.4B | $16.9B |
| FY2024 | $3.1B | $13.4B |
| FY2023 | $3.7B | $9.1B |
| FY2022 | $-521.7M | $11.0B |
| FY2021 | $4.7B | $15.0B |
| FY2020 | $2.0B | $11.0B |
| FY2019 | $2.0B | $9.0B |
| FY2018 | $1.1B | $8.7B |
| FY2017 | $1.0B | $6.1B |
| FY2016 | $309.3M | $6.0B |
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