Blackstone
BX · Asset Management & Custody Banks
$117.97
0.7%KKR
KKR · Asset Management & Custody Banks
$91.34
1.9%The short version
- KKR is the larger business, with $19.5B of revenue in fiscal 2025 against $14.5B for Blackstone.
- Blackstone grew revenue faster (9.2%, against −11.0%).
| Latest fiscal year | BX · FY25 | KKR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $94.4B | — |
| Revenue | $14.5B | $19.5B |
| Free cash flow | $4.5B | — |
| Net income | $3.0B | $2.4B |
| Growth | ||
| Revenue growth | 9.2% | −11.0% |
| 5-year growth | 18.8% | 35.7% |
| Share count change | 1.8% | — |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 20.9% | 12.2% |
| FCF margin | 31.5% | — |
| Return on capital | 22.1% | — |
| Return on equity | 35.8% | 8.7% |
| Balance sheet | ||
| Net debt | $9.9B | — |
| Net debt / EBITDA | 1.3x | — |
| Dividends and buybacks | $6.0B | $653M |
| Valuation & quality | ||
| P/E | 26.4x | — |
| Piotroski F-score | — | — |
FY16
BX $5.1B
KKR $2.0B
FY17
BX $7.1B
KKR $3.6B
FY18
BX $6.8B
KKR $2.4B
FY19
BX $7.3B
KKR $4.2B
FY20
BX $6.1B
KKR $4.2B
FY21
BX $22.6B
KKR $16.2B
FY22
BX $8.5B
KKR $5.7B
FY23
BX $8.0B
KKR $14.5B
FY24
BX $13.2B
KKR $21.9B
FY25
BX $14.5B
KKR $19.5B
BX
KKR
FY16
BX —
KKR —
FY17
BX —
KKR —
FY18
BX —
KKR —
FY19
BX —
KKR —
FY20
BX —
KKR —
FY21
BX —
KKR —
FY22
BX —
KKR —
FY23
BX —
KKR —
FY24
BX —
KKR —
FY25
BX —
KKR —
BX
KKR
FY16
BX −$110M
KKR −$1.5B
FY17
BX −$1.7B
KKR −$3.6B
FY18
BX $27.4M
KKR −$7.7B
FY19
BX $1.9B
KKR −$5.9B
FY20
BX $1.8B
KKR —
FY21
BX $3.9B
KKR —
FY22
BX $6.1B
KKR —
FY23
BX $3.8B
KKR —
FY24
BX $3.4B
KKR —
FY25
BX $4.5B
KKR —
BX
KKR
FY16
BX 13.2%
KKR 3.5%
FY17
BX 15.3%
KKR 9.2%
FY18
BX 14.1%
KKR 7.4%
FY19
BX 17.4%
KKR 11.1%
FY20
BX 11.3%
KKR 9.6%
FY21
BX 55.0%
KKR 17.5%
FY22
BX 12.2%
KKR —
FY23
BX 10.8%
KKR —
FY24
BX 21.6%
KKR —
FY25
BX 22.1%
KKR —
BX
KKR
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.