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Side-by-side financial comparison of International Paper (IP) 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 $4.7B, roughly 1.2× International Paper). KKR & Co. runs the higher net margin — 20.0% vs -50.3%, a 70.2% gap on every dollar of revenue. On growth, KKR & Co. posted the faster year-over-year revenue change (76.1% vs 3.6%). Over the past eight quarters, International Paper's revenue compounded faster (1.3% CAGR vs -22.9%).
The International Paper Company is an American pulp and paper company, the largest such company in the world. It has approximately 39,000 employees, and is headquartered in Memphis, Tennessee.
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.
IP vs KKR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $5.7B |
| Net Profit | $-2.4B | $1.1B |
| Gross Margin | 32.2% | — |
| Operating Margin | -56.4% | 45.3% |
| Net Margin | -50.3% | 20.0% |
| Revenue YoY | 3.6% | 76.1% |
| Net Profit YoY | -1521.8% | 1.8% |
| EPS (diluted) | $-4.76 | — |
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 | $4.7B | $5.7B | ||
| Q3 25 | $6.2B | $5.5B | ||
| Q2 25 | $6.8B | $5.1B | ||
| Q1 25 | $5.9B | $3.1B | ||
| Q4 24 | $4.6B | $3.3B | ||
| Q3 24 | $4.7B | $4.8B | ||
| Q2 24 | $4.7B | $4.2B | ||
| Q1 24 | $4.6B | $9.7B |
| Q4 25 | $-2.4B | $1.1B | ||
| Q3 25 | $-1.1B | $900.4M | ||
| Q2 25 | $75.0M | $510.1M | ||
| Q1 25 | $-105.0M | $-185.9M | ||
| Q4 24 | $-147.0M | $1.1B | ||
| Q3 24 | $150.0M | $600.5M | ||
| Q2 24 | $498.0M | $667.9M | ||
| Q1 24 | $56.0M | $682.2M |
| Q4 25 | 32.2% | — | ||
| Q3 25 | 31.1% | — | ||
| Q2 25 | 27.9% | — | ||
| Q1 25 | 27.8% | — | ||
| Q4 24 | 29.0% | — | ||
| Q3 24 | 28.7% | — | ||
| Q2 24 | 29.0% | — | ||
| Q1 24 | 25.9% | — |
| Q4 25 | -56.4% | 45.3% | ||
| Q3 25 | -10.8% | 39.8% | ||
| Q2 25 | 1.7% | 30.0% | ||
| Q1 25 | -2.3% | 24.8% | ||
| Q4 24 | -4.9% | 50.4% | ||
| Q3 24 | 5.1% | 34.3% | ||
| Q2 24 | 6.8% | 29.0% | ||
| Q1 24 | 3.7% | 14.1% |
| Q4 25 | -50.3% | 20.0% | ||
| Q3 25 | -17.7% | 16.3% | ||
| Q2 25 | 1.1% | 10.0% | ||
| Q1 25 | -1.8% | -6.0% | ||
| Q4 24 | -3.2% | 34.5% | ||
| Q3 24 | 3.2% | 12.5% | ||
| Q2 24 | 10.5% | 16.0% | ||
| Q1 24 | 1.2% | 7.1% |
| Q4 25 | $-4.76 | — | ||
| Q3 25 | $-2.09 | — | ||
| Q2 25 | $0.14 | — | ||
| Q1 25 | $-0.24 | — | ||
| Q4 24 | $-0.42 | — | ||
| Q3 24 | $0.42 | — | ||
| Q2 24 | $1.41 | — | ||
| Q1 24 | $0.16 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.1B | — |
| Total DebtLower is stronger | $8.8B | — |
| Stockholders' EquityBook value | $14.8B | $30.9B |
| Total Assets | $38.0B | $410.1B |
| Debt / EquityLower = less leverage | 0.60× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | — | ||
| Q3 25 | $995.0M | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $8.8B | — | ||
| Q3 25 | $9.0B | — | ||
| Q2 25 | $9.7B | — | ||
| Q1 25 | $9.2B | — | ||
| Q4 24 | $5.4B | — | ||
| Q3 24 | $5.3B | — | ||
| Q2 24 | $5.3B | — | ||
| Q1 24 | $5.5B | — |
| Q4 25 | $14.8B | $30.9B | ||
| Q3 25 | $17.3B | $29.7B | ||
| Q2 25 | $18.6B | $28.2B | ||
| Q1 25 | $18.1B | $27.5B | ||
| Q4 24 | $8.2B | $23.7B | ||
| Q3 24 | $8.6B | $24.1B | ||
| Q2 24 | $8.6B | $21.7B | ||
| Q1 24 | $8.3B | $21.4B |
| Q4 25 | $38.0B | $410.1B | ||
| Q3 25 | $40.6B | $398.5B | ||
| Q2 25 | $42.4B | $380.9B | ||
| Q1 25 | $41.2B | $372.4B | ||
| Q4 24 | $22.8B | $360.1B | ||
| Q3 24 | $23.2B | $360.7B | ||
| Q2 24 | $23.1B | $348.5B | ||
| Q1 24 | $23.0B | $339.8B |
| Q4 25 | 0.60× | — | ||
| Q3 25 | 0.52× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.51× | — | ||
| Q4 24 | 0.66× | — | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 0.62× | — | ||
| Q1 24 | 0.66× | — |
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 | $905.0M | $-4.9B |
| Free Cash FlowOCF − Capex | $255.0M | — |
| FCF MarginFCF / Revenue | 5.4% | — |
| Capex IntensityCapex / Revenue | 13.7% | — |
| Cash ConversionOCF / Net Profit | — | -4.28× |
| TTM Free Cash FlowTrailing 4 quarters | $-159.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $905.0M | $-4.9B | ||
| Q3 25 | $605.0M | $2.4B | ||
| Q2 25 | $476.0M | $438.8M | ||
| Q1 25 | $-288.0M | $2.5B | ||
| Q4 24 | $397.0M | $-111.7M | ||
| Q3 24 | $521.0M | $1.9B | ||
| Q2 24 | $365.0M | $3.4B | ||
| Q1 24 | $395.0M | $1.5B |
| Q4 25 | $255.0M | — | ||
| Q3 25 | $150.0M | — | ||
| Q2 25 | $54.0M | — | ||
| Q1 25 | $-618.0M | — | ||
| Q4 24 | $137.0M | — | ||
| Q3 24 | $309.0M | — | ||
| Q2 24 | $167.0M | — | ||
| Q1 24 | $144.0M | — |
| Q4 25 | 5.4% | — | ||
| Q3 25 | 2.4% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | -10.5% | — | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 6.6% | — | ||
| Q2 24 | 3.5% | — | ||
| Q1 24 | 3.1% | — |
| Q4 25 | 13.7% | — | ||
| Q3 25 | 7.3% | — | ||
| Q2 25 | 6.2% | — | ||
| Q1 25 | 5.6% | — | ||
| Q4 24 | 5.7% | — | ||
| Q3 24 | 4.5% | — | ||
| Q2 24 | 4.2% | — | ||
| Q1 24 | 5.4% | — |
| Q4 25 | — | -4.28× | ||
| Q3 25 | — | 2.65× | ||
| Q2 25 | 6.35× | 0.86× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -0.10× | ||
| Q3 24 | 3.47× | 3.12× | ||
| Q2 24 | 0.73× | 5.03× | ||
| Q1 24 | 7.05× | 2.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IP
| Other | $2.4B | 52% |
| DS Smith Packaging | $2.3B | 48% |
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% |
