KKRS FY 2023 Earnings Report — KKR Group Finance Co. IX LLC 4. Revenue & Financial Results | Market Cap Arena

KKR Group Finance Co. IX LLC 4.KKRS

FY 2023 Earnings

Reported February 29, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$14.5B	—	$5.6B	—	160.5%
Op. Income	$6.6B	—	-$292M	—	2343.0%
Gross Margin	78.6%	—	36.1%	—	42.5pp
Net Margin	25.7%	—	-18.4%	—	44.1pp
EPS (Diluted)	$4.09	—	$-1.37	—	398.5%
Free Cash Flow	-$1.6B	—	-$5.4B	—	70.1%

Revenue Flow

Item	Amount
REVENUE	$14.5B
Cost of Revenue	$3.1B
GROSS PROFIT	$11.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.7B
SG&A Expenses	$2.7B
Other Expenses	-$1.7B
Operating Expenses	$1.1B
Cost & Expenses	$4.2B
OPERATING INCOME	$6.6B
Interest Income	$3.4B
Interest Expense	$2.9B
Other Income/Expenses	-$3.8B
INCOME BEFORE TAX	$6.6B
Income Tax Expense	$1.2B
Net Income from Continuing Ops	$3.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.7B
D&A	-$987M
EBIT	$7.8B
EBITDA	$5.6B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$14.5B
Cost of Revenue	$3.1B
GROSS PROFIT	$11.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.7B
SG&A Expenses	$2.7B
Other Expenses	-$1.7B
Operating Expenses	$1.1B
Cost & Expenses	$4.2B
OPERATING INCOME	$6.6B
Interest Income	$3.4B
Interest Expense	$2.9B
Other Income/Expenses	-$3.8B
INCOME BEFORE TAX	$6.6B
Income Tax Expense	$1.2B
Net Income from Continuing Ops	$3.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.7B
D&A	-$987M
EBIT	$7.8B
EBITDA	$5.6B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$3.7B
Depreciation & Amortization	$0
Stock-Based Compensation	$618M
Deferred Income Tax	$0
Other Non-Cash Items	-$7.3B
Change in Working Capital	$1.4B
OPERATING CASH FLOW	-$1.5B
Capital Expenditure	-$108M
Acquisitions (Net)	$0
Purchases of Investments	-$29.5B
Sales/Maturities of Investments	$25.7B
Other Investing Activities	$59M
NET CASH FROM INVESTING	-$3.9B
Net Debt Issuance	$0
Common Stock Repurchased	-$332M
Common Dividends Paid	-$615M
Other Financing Activities	$13.4B
NET CASH FROM FINANCING	$12.8B
FREE CASH FLOW	-$1.6B
Net Change in Cash	$7.4B

Balance Sheet

Item	Amount
Cash & Equivalents	$20.3B
Short-Term Investments	$0
Net Receivables	$40.3B
Inventory	$0
Other Current Assets	$771M
TOTAL CURRENT ASSETS	$61.4B
PP&E (Net)	$1.4B
Goodwill	$1.1B
Intangible Assets	$6.3B
Long-Term Investments	$240.0B
Tax Assets	$2.3B
Other Non-Current Assets	$4.8B
TOTAL NON-CURRENT ASSETS	$255.9B
TOTAL ASSETS	$317.3B
Account Payables	$2.9B
Short-Term Debt	$200M
Deferred Revenue	$0
Other Current Liabilities	$37.5B
TOTAL CURRENT LIABILITIES	$40.6B
Long-Term Debt	$49.2B
Deferred Revenue NC	$801M
Deferred Tax Liabilities	$2.4B
Other Non-Current Liabilities	$165.9B
TOTAL NON-CURRENT LIABILITIES	$218.3B
TOTAL LIABILITIES	$258.9B
Common Stock	$9M
Additional Paid-In Capital	$0
Retained Earnings	$9.8B
Treasury Stock	$0
Accum. Other Comp. Income	-$4.5B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$22.9B
Minority Interest	$35.5B
TOTAL EQUITY	$58.4B
TOTAL LIABILITIES & EQUITY	$317.3B
Total Debt	$49.4B
Net Debt	$29.0B