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Side-by-side financial comparison of KKR & Co. (KKR) and Lennar (LEN). Click either name above to swap in a different company.
Lennar is the larger business by last-quarter revenue ($6.6B vs $5.7B, roughly 1.2× KKR & Co.). KKR & Co. runs the higher net margin — 20.0% vs 3.5%, a 16.5% gap on every dollar of revenue. On growth, KKR & Co. posted the faster year-over-year revenue change (76.1% vs -13.3%). Over the past eight quarters, Lennar's revenue compounded faster (-13.1% CAGR vs -22.9%).
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.
Lennar Corporation is an American home construction company based in Miami-Dade County, Florida. As of 2025, it is the second-largest home construction company in the United States based on the number of homes sold. Lennar has investments in multifamily and single-family residential rental properties, luxury development, property technology with LenX, and mortgage lending from Lennar Mortgage.
KKR vs LEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.7B | $6.6B |
| Net Profit | $1.1B | $229.4M |
| Gross Margin | — | — |
| Operating Margin | 45.3% | — |
| Net Margin | 20.0% | 3.5% |
| Revenue YoY | 76.1% | -13.3% |
| Net Profit YoY | 1.8% | -55.8% |
| EPS (diluted) | — | $0.93 |
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.
| Q1 26 | — | $6.6B | ||
| Q4 25 | $5.7B | $9.4B | ||
| Q3 25 | $5.5B | $8.8B | ||
| Q2 25 | $5.1B | $8.4B | ||
| Q1 25 | $3.1B | $7.6B | ||
| Q4 24 | $3.3B | $9.9B | ||
| Q3 24 | $4.8B | $9.4B | ||
| Q2 24 | $4.2B | $8.8B |
| Q1 26 | — | $229.4M | ||
| Q4 25 | $1.1B | $490.2M | ||
| Q3 25 | $900.4M | $591.0M | ||
| Q2 25 | $510.1M | $477.4M | ||
| Q1 25 | $-185.9M | $519.5M | ||
| Q4 24 | $1.1B | $1.1B | ||
| Q3 24 | $600.5M | $1.2B | ||
| Q2 24 | $667.9M | $954.3M |
| Q1 26 | — | — | ||
| Q4 25 | 45.3% | 7.3% | ||
| Q3 25 | 39.8% | 9.0% | ||
| Q2 25 | 30.0% | 7.7% | ||
| Q1 25 | 24.8% | 9.1% | ||
| Q4 24 | 50.4% | 14.7% | ||
| Q3 24 | 34.3% | 16.3% | ||
| Q2 24 | 29.0% | 14.4% |
| Q1 26 | — | 3.5% | ||
| Q4 25 | 20.0% | 5.2% | ||
| Q3 25 | 16.3% | 6.7% | ||
| Q2 25 | 10.0% | 5.7% | ||
| Q1 25 | -6.0% | 6.8% | ||
| Q4 24 | 34.5% | 11.0% | ||
| Q3 24 | 12.5% | 12.3% | ||
| Q2 24 | 16.0% | 10.9% |
| Q1 26 | — | $0.93 | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $2.29 | ||
| Q2 25 | — | $1.81 | ||
| Q1 25 | — | $1.96 | ||
| Q4 24 | — | $4.03 | ||
| Q3 24 | — | $4.26 | ||
| Q2 24 | — | $3.45 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $2.1B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $30.9B | $21.9B |
| Total Assets | $410.1B | $33.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $2.1B | ||
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $4.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $5.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $21.9B | ||
| Q4 25 | $30.9B | $22.0B | ||
| Q3 25 | $29.7B | $22.6B | ||
| Q2 25 | $28.2B | $22.6B | ||
| Q1 25 | $27.5B | $22.7B | ||
| Q4 24 | $23.7B | $27.9B | ||
| Q3 24 | $24.1B | $27.4B | ||
| Q2 24 | $21.7B | $26.9B |
| Q1 26 | — | $33.2B | ||
| Q4 25 | $410.1B | $34.4B | ||
| Q3 25 | $398.5B | $34.9B | ||
| Q2 25 | $380.9B | $34.4B | ||
| Q1 25 | $372.4B | $35.0B | ||
| Q4 24 | $360.1B | $41.3B | ||
| Q3 24 | $360.7B | $39.7B | ||
| Q2 24 | $348.5B | $38.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.15× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $-4.9B | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | -4.28× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-4.9B | $1.8B | ||
| Q3 25 | $2.4B | $-158.6M | ||
| Q2 25 | $438.8M | $-1.1B | ||
| Q1 25 | $2.5B | $-289.0M | ||
| Q4 24 | $-111.7M | $974.5M | ||
| Q3 24 | $1.9B | $819.2M | ||
| Q2 24 | $3.4B | $241.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $-190.8M | ||
| Q2 25 | — | $-1.1B | ||
| Q1 25 | — | $-345.1M | ||
| Q4 24 | — | $933.1M | ||
| Q3 24 | — | $800.8M | ||
| Q2 24 | — | $203.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 17.9% | ||
| Q3 25 | — | -2.2% | ||
| Q2 25 | — | -13.3% | ||
| Q1 25 | — | -4.5% | ||
| Q4 24 | — | 9.4% | ||
| Q3 24 | — | 8.5% | ||
| Q2 24 | — | 2.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | -4.28× | 3.59× | ||
| Q3 25 | 2.65× | -0.27× | ||
| Q2 25 | 0.86× | -2.29× | ||
| Q1 25 | — | -0.56× | ||
| Q4 24 | -0.10× | 0.89× | ||
| Q3 24 | 3.12× | 0.70× | ||
| Q2 24 | 5.03× | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
LEN
| Homebuilding | $6.3B | 95% |
| Financial Services | $215.6M | 3% |
| Multifamily | $82.5M | 1% |
| Lennar Other | $22.9M | 0% |
