vs
Side-by-side financial comparison of FirstEnergy (FE) and KKR & Co. (KKR). Click either name above to swap in a different company.
KKR & Co. is the larger business by last-quarter revenue ($5.7B vs $3.8B, roughly 1.5× FirstEnergy). KKR & Co. runs the higher net margin — 20.0% vs -1.3%, a 21.3% gap on every dollar of revenue. On growth, KKR & Co. posted the faster year-over-year revenue change (76.1% vs 19.6%). Over the past eight quarters, FirstEnergy's revenue compounded faster (7.5% CAGR vs -22.9%).
FirstEnergy Corp. is an electric utility headquartered in Akron, Ohio. It was established when Ohio Edison merged with Centerior Energy in 1997.
KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global private equity and investment company. As of December 31, 2024, the firm had completed 770 private-equity investments with approximately $790 billion of total enterprise value. Its assets under management (AUM) and fee paying assets under management (FPAUM) were $553 billion and $446 billion, respectively.
FE vs KKR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.8B | $5.7B |
| Net Profit | $-49.0M | $1.1B |
| Gross Margin | — | — |
| Operating Margin | -0.6% | 45.3% |
| Net Margin | -1.3% | 20.0% |
| Revenue YoY | 19.6% | 76.1% |
| Net Profit YoY | -118.8% | 1.8% |
| EPS (diluted) | $-0.08 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $3.8B | $5.7B | ||
| Q3 25 | $4.1B | $5.5B | ||
| Q2 25 | $3.4B | $5.1B | ||
| Q1 25 | $3.8B | $3.1B | ||
| Q4 24 | $3.2B | $3.3B | ||
| Q3 24 | $3.7B | $4.8B | ||
| Q2 24 | $3.3B | $4.2B | ||
| Q1 24 | $3.3B | $9.7B |
| Q4 25 | $-49.0M | $1.1B | ||
| Q3 25 | $441.0M | $900.4M | ||
| Q2 25 | $268.0M | $510.1M | ||
| Q1 25 | $360.0M | $-185.9M | ||
| Q4 24 | $261.0M | $1.1B | ||
| Q3 24 | $419.0M | $600.5M | ||
| Q2 24 | $45.0M | $667.9M | ||
| Q1 24 | $253.0M | $682.2M |
| Q4 25 | -0.6% | 45.3% | ||
| Q3 25 | 20.0% | 39.8% | ||
| Q2 25 | 19.1% | 30.0% | ||
| Q1 25 | 20.0% | 24.8% | ||
| Q4 24 | 19.3% | 50.4% | ||
| Q3 24 | 19.5% | 34.3% | ||
| Q2 24 | 12.9% | 29.0% | ||
| Q1 24 | 18.6% | 14.1% |
| Q4 25 | -1.3% | 20.0% | ||
| Q3 25 | 10.6% | 16.3% | ||
| Q2 25 | 7.9% | 10.0% | ||
| Q1 25 | 9.6% | -6.0% | ||
| Q4 24 | 8.2% | 34.5% | ||
| Q3 24 | 11.2% | 12.5% | ||
| Q2 24 | 1.4% | 16.0% | ||
| Q1 24 | 7.7% | 7.1% |
| Q4 25 | $-0.08 | — | ||
| Q3 25 | $0.76 | — | ||
| Q2 25 | $0.46 | — | ||
| Q1 25 | $0.62 | — | ||
| Q4 24 | $0.45 | — | ||
| Q3 24 | $0.73 | — | ||
| Q2 24 | $0.08 | — | ||
| Q1 24 | $0.44 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $57.0M | — |
| Total DebtLower is stronger | $25.5B | — |
| Stockholders' EquityBook value | $12.5B | $30.9B |
| Total Assets | $55.9B | $410.1B |
| Debt / EquityLower = less leverage | 2.04× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.0M | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $569.0M | — | ||
| Q1 25 | $132.0M | — | ||
| Q4 24 | $111.0M | — | ||
| Q3 24 | $439.0M | — | ||
| Q2 24 | $60.0M | — | ||
| Q1 24 | $888.0M | — |
| Q4 25 | $25.5B | — | ||
| Q3 25 | $25.5B | — | ||
| Q2 25 | $23.7B | — | ||
| Q1 25 | $21.2B | — | ||
| Q4 24 | $22.5B | — | ||
| Q3 24 | $21.6B | — | ||
| Q2 24 | $20.8B | — | ||
| Q1 24 | $21.7B | — |
| Q4 25 | $12.5B | $30.9B | ||
| Q3 25 | $12.8B | $29.7B | ||
| Q2 25 | $12.9B | $28.2B | ||
| Q1 25 | $12.6B | $27.5B | ||
| Q4 24 | $12.5B | $23.7B | ||
| Q3 24 | $12.4B | $24.1B | ||
| Q2 24 | $12.5B | $21.7B | ||
| Q1 24 | $12.4B | $21.4B |
| Q4 25 | $55.9B | $410.1B | ||
| Q3 25 | $55.9B | $398.5B | ||
| Q2 25 | $54.2B | $380.9B | ||
| Q1 25 | $52.8B | $372.4B | ||
| Q4 24 | $52.0B | $360.1B | ||
| Q3 24 | $50.8B | $360.7B | ||
| Q2 24 | $51.0B | $348.5B | ||
| Q1 24 | $51.3B | $339.8B |
| Q4 25 | 2.04× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.69× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.74× | — | ||
| Q2 24 | 1.67× | — | ||
| Q1 24 | 1.75× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.1B | $-4.9B |
| Free Cash FlowOCF − Capex | $-30.0M | — |
| FCF MarginFCF / Revenue | -0.8% | — |
| Capex IntensityCapex / Revenue | 30.7% | — |
| Cash ConversionOCF / Net Profit | — | -4.28× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.0B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $-4.9B | ||
| Q3 25 | $845.0M | $2.4B | ||
| Q2 25 | $1.1B | $438.8M | ||
| Q1 25 | $637.0M | $2.5B | ||
| Q4 24 | $1.0B | $-111.7M | ||
| Q3 24 | $775.0M | $1.9B | ||
| Q2 24 | $1.1B | $3.4B | ||
| Q1 24 | $-40.0M | $1.5B |
| Q4 25 | $-30.0M | — | ||
| Q3 25 | $-471.0M | — | ||
| Q2 25 | $-136.0M | — | ||
| Q1 25 | $-368.0M | — | ||
| Q4 24 | $-250.0M | — | ||
| Q3 24 | $-229.0M | — | ||
| Q2 24 | $170.0M | — | ||
| Q1 24 | $-830.0M | — |
| Q4 25 | -0.8% | — | ||
| Q3 25 | -11.4% | — | ||
| Q2 25 | -4.0% | — | ||
| Q1 25 | -9.8% | — | ||
| Q4 24 | -7.9% | — | ||
| Q3 24 | -6.1% | — | ||
| Q2 24 | 5.2% | — | ||
| Q1 24 | -25.3% | — |
| Q4 25 | 30.7% | — | ||
| Q3 25 | 31.7% | — | ||
| Q2 25 | 36.0% | — | ||
| Q1 25 | 26.7% | — | ||
| Q4 24 | 40.7% | — | ||
| Q3 24 | 26.9% | — | ||
| Q2 24 | 28.7% | — | ||
| Q1 24 | 24.0% | — |
| Q4 25 | — | -4.28× | ||
| Q3 25 | 1.92× | 2.65× | ||
| Q2 25 | 4.04× | 0.86× | ||
| Q1 25 | 1.77× | — | ||
| Q4 24 | 4.00× | -0.10× | ||
| Q3 24 | 1.85× | 3.12× | ||
| Q2 24 | 24.71× | 5.03× | ||
| Q1 24 | -0.16× | 2.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FE
| Integrated Segment | $1.4B | 37% |
| Other | $1.4B | 36% |
| Stand Alone Transmission Segment | $466.0M | 12% |
| Industrial Customers | $167.0M | 4% |
| Mid Atlantic Interstate Transmission LLC | $118.0M | 3% |
| Transmission | $105.0M | 3% |
| Transmission Segment | $68.0M | 2% |
| Tr AIL | $63.0M | 2% |
| Internal Customers | $10.0M | 0% |
| Wholesale Sales | $6.0M | 0% |
KKR
| Insurance Segment | $3.5B | 61% |
| Asset Management1 | $703.7M | 12% |
| Transaction Fee | $512.0M | 9% |
| Transaction And Monitoring Fees | $268.7M | 5% |
| Fee Credit | $230.1M | 4% |
| Other | $201.5M | 4% |
| Fixed Annuity | $77.0M | 1% |
| Asset Management Segment | $56.9M | 1% |
| Monitoring Fee | $53.5M | 1% |
| Investment Advice | $40.6M | 1% |
| Fee Related Performance | $33.6M | 1% |
| Interest Sensitive Life | $21.7M | 0% |
| Incentive Fee | $11.0M | 0% |
