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Side-by-side financial comparison of KKR & Co. (KKR) and United Rentals (URI). Click either name above to swap in a different company.
KKR & Co. is the larger business by last-quarter revenue ($5.7B vs $4.0B, roughly 1.4× United Rentals). KKR & Co. runs the higher net margin — 20.0% vs 13.3%, a 6.6% gap on every dollar of revenue. On growth, KKR & Co. posted the faster year-over-year revenue change (76.1% vs 7.2%). Over the past eight quarters, United Rentals's revenue compounded faster (114.0% 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.
United Rentals, Inc. is an American equipment rental company, with about 16 percent of the North American market share as of 2022. It owns the largest rental fleet in the world with approximately 4,800 classes of equipment totaling about $20.59 billion in original equipment cost (OEC) as of 2025. The company has a combined total of 1,625 locations, including an integrated network of 1,504 rental locations in North America, 38 in Europe, 23 in Australia and 19 in New Zealand.
KKR vs URI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.7B | $4.0B |
| Net Profit | $1.1B | $531.0M |
| Gross Margin | — | 36.9% |
| Operating Margin | 45.3% | 21.8% |
| Net Margin | 20.0% | 13.3% |
| Revenue YoY | 76.1% | 7.2% |
| Net Profit YoY | 1.8% | — |
| EPS (diluted) | — | $8.43 |
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 | — | $4.0B | ||
| Q4 25 | $5.7B | $992.0M | ||
| Q3 25 | $5.5B | $938.0M | ||
| Q2 25 | $5.1B | $872.0M | ||
| Q1 25 | $3.1B | $893.0M | ||
| Q4 24 | $3.3B | $1.0B | ||
| Q3 24 | $4.8B | $874.0M | ||
| Q2 24 | $4.2B | $870.0M |
| Q1 26 | — | $531.0M | ||
| Q4 25 | $1.1B | $653.0M | ||
| Q3 25 | $900.4M | $701.0M | ||
| Q2 25 | $510.1M | $622.0M | ||
| Q1 25 | $-185.9M | $518.0M | ||
| Q4 24 | $1.1B | $689.0M | ||
| Q3 24 | $600.5M | $708.0M | ||
| Q2 24 | $667.9M | $636.0M |
| Q1 26 | — | 36.9% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | 21.8% | ||
| Q4 25 | 45.3% | — | ||
| Q3 25 | 39.8% | — | ||
| Q2 25 | 30.0% | — | ||
| Q1 25 | 24.8% | 90.0% | ||
| Q4 24 | 50.4% | — | ||
| Q3 24 | 34.3% | — | ||
| Q2 24 | 29.0% | — |
| Q1 26 | — | 13.3% | ||
| Q4 25 | 20.0% | 65.8% | ||
| Q3 25 | 16.3% | 74.7% | ||
| Q2 25 | 10.0% | 71.3% | ||
| Q1 25 | -6.0% | 58.0% | ||
| Q4 24 | 34.5% | 67.6% | ||
| Q3 24 | 12.5% | 81.0% | ||
| Q2 24 | 16.0% | 73.1% |
| Q1 26 | — | $8.43 | ||
| Q4 25 | — | $10.20 | ||
| Q3 25 | — | $10.91 | ||
| Q2 25 | — | $9.59 | ||
| Q1 25 | — | $7.91 | ||
| Q4 24 | — | $10.41 | ||
| Q3 24 | — | $10.70 | ||
| Q2 24 | — | $9.54 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $156.0M |
| Total DebtLower is stronger | — | $13.9B |
| Stockholders' EquityBook value | $30.9B | $9.0B |
| Total Assets | $410.1B | $29.9B |
| Debt / EquityLower = less leverage | — | 1.55× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $156.0M | ||
| Q4 25 | — | $459.0M | ||
| Q3 25 | — | $512.0M | ||
| Q2 25 | — | $548.0M | ||
| Q1 25 | — | $542.0M | ||
| Q4 24 | — | $457.0M | ||
| Q3 24 | — | $479.0M | ||
| Q2 24 | — | $467.0M |
| Q1 26 | — | $13.9B | ||
| Q4 25 | — | $12.7B | ||
| Q3 25 | — | $12.6B | ||
| Q2 25 | — | $12.1B | ||
| Q1 25 | — | $11.5B | ||
| Q4 24 | — | $12.2B | ||
| Q3 24 | — | $11.9B | ||
| Q2 24 | — | $11.5B |
| Q1 26 | — | $9.0B | ||
| Q4 25 | $30.9B | $9.0B | ||
| Q3 25 | $29.7B | $9.0B | ||
| Q2 25 | $28.2B | $9.0B | ||
| Q1 25 | $27.5B | $8.8B | ||
| Q4 24 | $23.7B | $8.6B | ||
| Q3 24 | $24.1B | $8.6B | ||
| Q2 24 | $21.7B | $8.3B |
| Q1 26 | — | $29.9B | ||
| Q4 25 | $410.1B | $29.9B | ||
| Q3 25 | $398.5B | $30.1B | ||
| Q2 25 | $380.9B | $29.2B | ||
| Q1 25 | $372.4B | $28.1B | ||
| Q4 24 | $360.1B | $28.2B | ||
| Q3 24 | $360.7B | $28.4B | ||
| Q2 24 | $348.5B | $27.6B |
| Q1 26 | — | 1.55× | ||
| Q4 25 | — | 1.41× | ||
| Q3 25 | — | 1.40× | ||
| Q2 25 | — | 1.34× | ||
| Q1 25 | — | 1.31× | ||
| Q4 24 | — | 1.42× | ||
| Q3 24 | — | 1.38× | ||
| Q2 24 | — | 1.39× |
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 | $1.5B |
| Free Cash FlowOCF − Capex | — | $1.1B |
| FCF MarginFCF / Revenue | — | 26.4% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | -4.28× | 2.85× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.5B | ||
| Q4 25 | $-4.9B | $1.3B | ||
| Q3 25 | $2.4B | $1.2B | ||
| Q2 25 | $438.8M | $1.3B | ||
| Q1 25 | $2.5B | $1.4B | ||
| Q4 24 | $-111.7M | $1.0B | ||
| Q3 24 | $1.9B | $1.2B | ||
| Q2 24 | $3.4B | $1.3B |
| Q1 26 | — | $1.1B | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $471.0M | ||
| Q3 24 | — | $-168.0M | ||
| Q2 24 | — | $-263.0M |
| Q1 26 | — | 26.4% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 46.2% | ||
| Q3 24 | — | -19.2% | ||
| Q2 24 | — | -30.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 56.6% | ||
| Q3 24 | — | 157.0% | ||
| Q2 24 | — | 175.6% |
| Q1 26 | — | 2.85× | ||
| Q4 25 | -4.28× | 1.92× | ||
| Q3 25 | 2.65× | 1.68× | ||
| Q2 25 | 0.86× | 2.14× | ||
| Q1 25 | — | 2.75× | ||
| Q4 24 | -0.10× | 1.52× | ||
| Q3 24 | 3.12× | 1.70× | ||
| Q2 24 | 5.03× | 1.99× |
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% |
URI
| Equipment rentals | $3.4B | 86% |
| Sales of rental equipment | $350.0M | 9% |
| Service and other revenues | $92.0M | 2% |
| Sales of new equipment | $84.0M | 2% |
| Contractor supplies sales | $40.0M | 1% |
