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Side-by-side financial comparison of KKR & Co. (KKR) and PG&E Corporation (PCG). Click either name above to swap in a different company.
PG&E Corporation is the larger business by last-quarter revenue ($6.9B vs $5.7B, roughly 1.2× KKR & Co.). KKR & Co. runs the higher net margin — 20.0% vs 12.9%, a 7.1% gap on every dollar of revenue. On growth, KKR & Co. posted the faster year-over-year revenue change (76.1% vs 15.0%). Over the past eight quarters, PG&E Corporation's revenue compounded faster (7.2% 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.
Pacific Gas and Electric Company (PG&E) is an American investor-owned utility (IOU). The company is headquartered at Kaiser Center, in Oakland, California. PG&E provides natural gas and electricity to 5.2 million households in the northern two-thirds of California, from Bakersfield and northern Santa Barbara County, almost to the Oregon and Nevada state lines.
KKR vs PCG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.7B | $6.9B |
| Net Profit | $1.1B | $885.0M |
| Gross Margin | — | — |
| Operating Margin | 45.3% | 21.4% |
| Net Margin | 20.0% | 12.9% |
| Revenue YoY | 76.1% | 15.0% |
| Net Profit YoY | 1.8% | 39.6% |
| EPS (diluted) | — | $0.39 |
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 | — | $6.9B | ||
| Q4 25 | $5.7B | $6.8B | ||
| Q3 25 | $5.5B | $6.3B | ||
| Q2 25 | $5.1B | $5.9B | ||
| Q1 25 | $3.1B | $6.0B | ||
| Q4 24 | $3.3B | $6.6B | ||
| Q3 24 | $4.8B | $5.9B | ||
| Q2 24 | $4.2B | $6.0B |
| Q1 26 | — | $885.0M | ||
| Q4 25 | $1.1B | $670.0M | ||
| Q3 25 | $900.4M | $850.0M | ||
| Q2 25 | $510.1M | $549.0M | ||
| Q1 25 | $-185.9M | $634.0M | ||
| Q4 24 | $1.1B | $674.0M | ||
| Q3 24 | $600.5M | $579.0M | ||
| Q2 24 | $667.9M | $524.0M |
| Q1 26 | — | 21.4% | ||
| Q4 25 | 45.3% | 18.0% | ||
| Q3 25 | 39.8% | 19.3% | ||
| Q2 25 | 30.0% | 18.6% | ||
| Q1 25 | 24.8% | 20.4% | ||
| Q4 24 | 50.4% | 15.4% | ||
| Q3 24 | 34.3% | 17.3% | ||
| Q2 24 | 29.0% | 18.9% |
| Q1 26 | — | 12.9% | ||
| Q4 25 | 20.0% | 9.8% | ||
| Q3 25 | 16.3% | 13.6% | ||
| Q2 25 | 10.0% | 9.3% | ||
| Q1 25 | -6.0% | 10.6% | ||
| Q4 24 | 34.5% | 10.2% | ||
| Q3 24 | 12.5% | 9.7% | ||
| Q2 24 | 16.0% | 8.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | — | $0.29 | ||
| Q3 25 | — | $0.37 | ||
| Q2 25 | — | $0.24 | ||
| Q1 25 | — | $0.28 | ||
| Q4 24 | — | $0.30 | ||
| Q3 24 | — | $0.27 | ||
| Q2 24 | — | $0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $30.9B | — |
| Total Assets | $410.1B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $713.0M | ||
| Q3 25 | — | $404.0M | ||
| Q2 25 | — | $494.0M | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $940.0M | ||
| Q3 24 | — | $895.0M | ||
| Q2 24 | — | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | $57.4B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $53.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $30.9B | $32.5B | ||
| Q3 25 | $29.7B | $32.0B | ||
| Q2 25 | $28.2B | $31.2B | ||
| Q1 25 | $27.5B | $30.7B | ||
| Q4 24 | $23.7B | $30.1B | ||
| Q3 24 | $24.1B | $26.8B | ||
| Q2 24 | $21.7B | $26.3B |
| Q1 26 | — | — | ||
| Q4 25 | $410.1B | $141.6B | ||
| Q3 25 | $398.5B | $138.2B | ||
| Q2 25 | $380.9B | $136.4B | ||
| Q1 25 | $372.4B | $135.4B | ||
| Q4 24 | $360.1B | $133.7B | ||
| Q3 24 | $360.7B | $132.3B | ||
| Q2 24 | $348.5B | $130.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.76× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.78× | ||
| 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 | $2.0B | ||
| Q3 25 | $2.4B | $2.9B | ||
| Q2 25 | $438.8M | $1.1B | ||
| Q1 25 | $2.5B | $2.8B | ||
| Q4 24 | $-111.7M | $1.9B | ||
| Q3 24 | $1.9B | $3.1B | ||
| Q2 24 | $3.4B | $711.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-1.2B | ||
| Q3 25 | — | $-80.0M | ||
| Q2 25 | — | $-2.0B | ||
| Q1 25 | — | $213.0M | ||
| Q4 24 | — | $-896.0M | ||
| Q3 24 | — | $526.0M | ||
| Q2 24 | — | $-1.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | -17.6% | ||
| Q3 25 | — | -1.3% | ||
| Q2 25 | — | -34.0% | ||
| Q1 25 | — | 3.6% | ||
| Q4 24 | — | -13.5% | ||
| Q3 24 | — | 8.9% | ||
| Q2 24 | — | -26.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 46.4% | ||
| Q3 25 | — | 46.9% | ||
| Q2 25 | — | 52.0% | ||
| Q1 25 | — | 44.0% | ||
| Q4 24 | — | 42.6% | ||
| Q3 24 | — | 43.8% | ||
| Q2 24 | — | 38.4% |
| Q1 26 | — | — | ||
| Q4 25 | -4.28× | 2.93× | ||
| Q3 25 | 2.65× | 3.35× | ||
| Q2 25 | 0.86× | 1.93× | ||
| Q1 25 | — | 4.49× | ||
| Q4 24 | -0.10× | 2.87× | ||
| Q3 24 | 3.12× | 5.41× | ||
| Q2 24 | 5.03× | 1.36× |
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% |
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
