Filing Flows › KKR (KKR) › Q2 2026 › vs Q2 2025
KKR (KKR) Q2 2026 vs Q2 2025 (year over year)
KKR's revenue rose $637M (+13%) from $5.1B in Q2 2025 to $5.7B in Q2 2026. The biggest changes: Asset Management and Strategic Holdings +$368M (+20%); Insurance +$269M (+8%). Operating margin 24.0% against 30.0% (-6.0 pts).
KKR, Q2 2026: revenue $5.7B (+12% year over year), operating margin 24.0%, net earnings $700M, operating cash flow $3.3B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 24.0% | 30.0% | -6.0 pts |
| Net margin | 12.2% | 10.0% | +2.2 pts |
| Free cash flow margin | 56.0% | 7.3% | +48.7 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Insurance | $3.5B | $3.3B | $269M | +8% |
| Asset Management and Strategic Holdings | $2.2B | $1.8B | $368M | +20% |
| Revenue | $5.7B | $5.1B | $637M | +13% |
| Operating profit | $1.4B | $1.5B | −$155M | -10% |
| Costs & expenses | $4.4B | $3.6B | $792M | +22% |
| Pre-tax earnings | $1.4B | $1.5B | −$155M | -10% |
| Net earnings | $700M | $510M | $190M | +37% |
| Minority interests | $427M | $844M | −$417M | -49% |
| Income tax | $246M | $174M | $71.8M | +41% |
| Share-based compensation | $226M | $174M | $52.2M | +30% |
| Working capital & other | $2.3B | −$245M | $2.6B | — |
| Operating cash flow | $3.3B | $439M | $2.8B | +641% |
| Free cash flow (OCF − capex) | $3.2B | $371M | $2.8B | +763% |
| Capital expenditures | $48.6M | $67.4M | −$18.8M | -28% |
Questions
How much did KKR's revenue grow year over year in Q2 2026?
KKR's revenue rose $637M (+13%) from $5.1B in Q2 2025 to $5.7B in Q2 2026.
What drove KKR's revenue change in Q2 2026?
Asset Management and Strategic Holdings +$368M (+20%); Insurance +$269M (+8%).