KKR Group Finance Co. IX LLC 4. (KKRS) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 | Q1'21 |
|---|
| Cash from Operations | 1.75B | -2.07B | 0 | 0 | 2.55B | 1.75B | 2.67B | 1.53B | 2.12B | 1.97B | -2.64B | -1.93B | -647.53M | -1.49B | -4.06B | 916.82M | -3.62B | -2.25B | -1.23B | -73.17M |
| Operating CF Margin % | 40.45% | -36.1% | - | - | 81.98% | 62.11% | 52.39% | 14.38% | 33.39% | 59.45% | -58.43% | -61.8% | -25.61% | -79.91% | -1231.1% | 35.37% | -89.26% | -50.21% | -39.35% | -1.6% |
| Operating CF Growth % | -31.5% | -218.61% | - | -100% | 66.93% | -17.43% | 201.06% | 179.02% | 426.71% | 232.73% | 35.05% | -310.83% | 82.1% | 34.03% | -229.26% | 1353.07% | -100.31% | -59.73% | 7.31% | 94.8% |
| Net Income | 277.5M | 4.86B | 78.08M | 525.79M | 684.5M | 3.56B | 993.24M | 682.21M | 1.04B | 2.38B | 1.13B | 259.69M | 138.36M | -79.59M | -1.81B | 1.1B | 835.29M | 3.28B | 4.26B | 3.92B |
| Depreciation & Amortization | -77.39M | -108.88M | 0 | 0 | -53.65M | -215.71M | 22.3M | 22.3M | 22.1M | 45.93M | 57.23M | 32.18M | 19.2M | 330.78M | 17.3M | 74.96M | 386.87M | 15.7M | 16.2M | 82.61M |
| Stock-Based Compensation | 180.11M | 538.54M | 0 | 0 | 183.57M | 378.13M | 184.91M | 183.41M | 140.22M | 146.59M | 147.53M | 184.13M | 170.62M | 174.11M | 216.72M | 168.79M | 233.49M | 119.62M | 88.54M | 88.16M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.33B | -1.27B | -57.23M | 0 | 0 | 0 | 0 | -74.96M | -74.89M | 0 | 0 | -2.78B |
| Other Non-Cash Items | 1.37B | -7.36B | -78.08M | -525.79M | 1.74B | 148.26M | 645.48M | 49.47M | -979.41M | -154.47M | -2.97B | -3.4B | 1.35B | -2.48B | -2.94B | -119.6M | -3.69B | -7.03B | -6.15B | -3.04B |
| Working Capital Changes | 0 | 0 | 0 | 0 | 0 | -2.12B | 821.19M | 590.04M | 563.34M | 822.68M | -947.58M | 990.23M | -2.3B | 572.72M | -1.03B | -234.97M | -1.31B | 1.38B | 561.56M | 1.66B |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | -1.06B | 0 | 0 | 490.06M | 587.83M | 246.61M | -263.53M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | 2.35B | -12.67B | -50.49M | -409.62M | -3.15B | -11.37B | -2.49B | -6.2B | 3.88B | -1.08B | 199.39M | -3.82B | -2.97B | -3.59B | -5.09B | -2B | -2.59B | -4.47B | -2.17B | -376.04M |
| Capital Expenditures | -27.42M | -139.92M | 0 | 0 | -20.85M | -97.77M | -26.47M | -17.3M | -29.21M | -17.42M | -38.55M | -23.21M | -26.47M | -24.41M | -22.29M | -11.89M | -19.53M | -32.95M | -21.84M | -27.73M |
| CapEx % of Revenue | 0.64% | 2.44% | - | - | 0.67% | 3.48% | 0.52% | 0.16% | 0.46% | 0.53% | 0.85% | 0.74% | 1.05% | 1.31% | 6.75% | 0.46% | 0.48% | 0.73% | 0.7% | 0.61% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | 0 | 1.33M | 0 | 0 | 0 | 0 | 216.11B | 214.55B | 1.27M | 191.96B | 231.48B | 227.35B | 216.57B | 298.21B | 207.7B | 211.57B | 212.54B | 211.12B | 184.49B | 174.43B |
| Other Investing | 2.38B | -12.99B | 0 | 0 | -3.13B | -18.92B | -2.31M | -992.05M | 20.8M | 42.58M | -21.83M | 17.92M | -10.16M | 11.37M | -26.68M | -11M | 729.49M | -1.04B | 218.89M | 111.84M |
| Cash from Financing | 0 | -3.6B | 0 | 0 | 3.6B | 8.99B | -238.84M | 44.96M | 3.06B | -1.78B | -1.48B | -395.81M | 5.4B | 4.35B | 8.16B | 4.15B | 4.24B | 7.23B | 4.44B | 4.46B |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | -155.44M | 0 | 0 | -155.44M | -310.75M | -155.3M | -146.03M | -146.03M | -158.76M | -159.52M | -150.72M | -150.72M | -150.52M | -109.1M | -102.99M | -102.03M | -104.31M | -109.9M | -103.39M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 92.95M | -92.95M | 0 | -9.92M | -17.57M | -304.03M | 0 | 0 | -346.65M | -34.87M | -346.65M | -133.78M | -155M | -409.56M | -71.37M |
| Other Financing | 0 | -3.45B | 0 | 0 | 3.76B | 9.3B | -83.54M | 190.99M | 7.29B | 262.89M | 3.61B | 2.22B | 5.56B | 4.5B | 8.27B | 4.25B | 4.34B | 7.34B | 4.55B | 4.56B |
| Net Change in Cash | 0 | 0 | 0 | 0 | 0 | 0 | -95.76M | -4.64B | -218.35M | 962.12M | 1.02B | -3.66B | 1.76B | -742.38M | -1.17B | 3.02B | -1.99B | 494.49M | -6.54B | -2.53B |
| Free Cash Flow | 1.72B | -2.21B | 0 | 0 | 2.53B | 1.65B | 2.64B | 1.51B | 2.09B | 1.95B | -2.68B | -1.96B | -674.01M | -1.51B | -4.09B | 904.93M | -3.64B | -2.28B | -1.26B | -100.89M |
| FCF Margin % | 39.82% | -38.54% | - | - | 81.31% | 58.63% | 51.87% | 14.22% | 32.93% | 58.93% | -59.28% | -62.55% | -26.65% | -81.22% | -1237.85% | 34.91% | -89.74% | -50.95% | -40.05% | -2.21% |
| FCF Growth % | -32.02% | -234.13% | - | -100% | 67.46% | -20.96% | 198.62% | 177.2% | 409.54% | 229.43% | 34.46% | -316.16% | 81.47% | 33.92% | -225.31% | 996.92% | -96.82% | -58.05% | 7.76% | 93.05% |
| FCF per Share | 1.93 | -2.37 | - | - | 2.71 | 1.77 | 2.83 | 1.63 | 2.29 | 2.15 | -2.94 | -2.20 | -0.78 | -1.76 | -6.00 | 1.53 | -5.71 | -3.58 | -1.99 | -0.16 |
| FCF Conversion (FCF/Net Income) | 3.77x | 0.53x | - | - | 3.72x | 0.82x | 3.99x | 2.24x | 2.03x | 1.32x | -3.06x | -5.69x | 37.54x | 18.66x | 5.53x | 0.83x | -7.13x | -1.99x | -0.97x | -0.04x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |