KKR (KKR) FY2021 results: revenue $16.2 billion, up 283.8% on the year

KKR & Co. Inc. (KKR) reported revenue of $16.2 billion for fiscal 2021, the year ended 31 December 2021, up 283.8% on the year before. Net income was $4.7 billion, up 136.3%, and diluted earnings per share $7.31. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2022.

Revenue

$16.2 billion

+283.8% on the year

FY2016FY2021

Operating margin

n/a

FY2016FY2021

Net income

$4.7 billion

+136.3% on the year

FY2016FY2021

Diluted EPS

$7.31

+116.9% on the year

FY2016FY2021

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q3 FY2021 · Q4 FY2021

Income statement (profit and loss)

$ million	FY2021	FY2020	FY2019	On the year
Revenue	16,236	4,231	4,221	+283.8%
Interest expense	1,070	970	1,044	+10.4%
Pre-tax income	13,847	5,727	5,168	+141.8%
Income tax	1,395	609	529	+129.0%
Effective tax rate	10.1%	10.6%	10.2%
Net income	4,732	2,003	2,005	+136.3%
Net margin	29.1%	47.3%	47.5%
Diluted EPS	$7.31	$3.37	$3.54	+116.9%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2021	FY2020	FY2019	On the year
Operating cash flow	-7,177	-5,954	-5,682
Capital expenditure	n/a	n/a	195
Free cash flow	n/a	n/a	-5,877
Free cash flow margin	n/a	n/a	-139.2%
Cash from investing	-9,606	-153	-207
Cash from financing	20,364	9,804	6,485	+107.7%
Depreciation and amortisation	387	18.6	17.7	+1,979.9%
Share-based compensation	530	327	298	+62.1%
Buybacks	270	246	72.1	+9.6%
Dividends paid	331	297	271	+11.5%
Dividend per share	$0.58	$0.53	$0.50	+9.4%
Diluted shares, weighted	633m	584m	558m	+8.5%
Shares outstanding at period end	596m	573m	560m	+4.0%

Balance sheet

$ million	FY2021	FY2020	FY2019	On the year
Shareholders' equity	17,582	13,717	10,807	+28.2%
Non-controlling interest	40,475	27,083	19,695	+49.4%
Redeemable equity	82.5	0.0	0.0
Debt	36,914	33,501	27,152	+10.2%
Other liabilities	169,232	5,505	3,245	+2,973.9%
Total liabilities and equity	264,285	79,807	60,899	+231.2%
Fixed assets	n/a	761	633
Goodwill	n/a	83.5	83.5
Securities held for sale or to maturity	68,871	n/a	n/a
Loans	28,877	n/a	n/a
Cash and equivalents	10,526	5,363	2,347	+96.3%
Other assets	n/a	73,599	57,836
Total assets	n/a	79,807	60,899

10-K for the year ended 31 December 2021, filed 28 February 2022: the filing.