vs
Side-by-side financial comparison of Kennedy-Wilson Holdings, Inc. (KW) and P10, Inc. (PX). Click either name above to swap in a different company.
Kennedy-Wilson Holdings, Inc. is the larger business by last-quarter revenue ($120.6M vs $81.0M, roughly 1.5× P10, Inc.). Kennedy-Wilson Holdings, Inc. runs the higher net margin — 48.1% vs 11.7%, a 36.4% gap on every dollar of revenue. On growth, P10, Inc. posted the faster year-over-year revenue change (-4.7% vs -11.0%). P10, Inc. produced more free cash flow last quarter ($18.1M vs $-55.2M). Over the past eight quarters, P10, Inc.'s revenue compounded faster (10.7% CAGR vs -6.0%).
Kennedy Wilson is a real estate investment company headquartered in Beverly Hills, California, United States.
P10, Inc. is a global alternative investment management firm that offers a diversified portfolio of investment solutions spanning private equity, private credit, real assets and venture capital. It primarily caters to institutional clients including pension funds, endowments, foundations, and high-net-worth individuals across North America, Europe, and Asia Pacific.
KW vs PX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $120.6M | $81.0M |
| Net Profit | $58.0M | $9.5M |
| Gross Margin | — | — |
| Operating Margin | 57.3% | 31.9% |
| Net Margin | 48.1% | 11.7% |
| Revenue YoY | -11.0% | -4.7% |
| Net Profit YoY | 32.7% | 79.0% |
| EPS (diluted) | $0.22 | $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 | $120.6M | $81.0M | ||
| Q3 25 | $116.4M | $75.9M | ||
| Q2 25 | $135.7M | $72.7M | ||
| Q1 25 | $128.3M | $67.7M | ||
| Q4 24 | $135.5M | $85.0M | ||
| Q3 24 | $127.5M | $74.2M | ||
| Q2 24 | $132.0M | $71.1M | ||
| Q1 24 | $136.4M | $66.1M |
| Q4 25 | $58.0M | $9.5M | ||
| Q3 25 | $-10.2M | $2.1M | ||
| Q2 25 | $5.6M | $3.4M | ||
| Q1 25 | $-29.6M | $4.5M | ||
| Q4 24 | $43.7M | $5.3M | ||
| Q3 24 | $-66.8M | $1.4M | ||
| Q2 24 | $-48.3M | $7.0M | ||
| Q1 24 | $37.7M | $5.0M |
| Q4 25 | 57.3% | 31.9% | ||
| Q3 25 | -6.2% | 14.1% | ||
| Q2 25 | 7.4% | 24.4% | ||
| Q1 25 | -26.9% | 16.6% | ||
| Q4 24 | 36.7% | 26.9% | ||
| Q3 24 | -60.8% | 11.9% | ||
| Q2 24 | -45.5% | 23.7% | ||
| Q1 24 | 47.2% | 18.3% |
| Q4 25 | 48.1% | 11.7% | ||
| Q3 25 | -8.8% | 2.8% | ||
| Q2 25 | 4.1% | 4.7% | ||
| Q1 25 | -23.1% | 6.7% | ||
| Q4 24 | 32.3% | 6.2% | ||
| Q3 24 | -52.4% | 1.9% | ||
| Q2 24 | -36.6% | 9.8% | ||
| Q1 24 | 27.6% | 7.6% |
| Q4 25 | $0.22 | $0.08 | ||
| Q3 25 | $-0.15 | $0.02 | ||
| Q2 25 | $-0.05 | $0.03 | ||
| Q1 25 | $-0.30 | $0.04 | ||
| Q4 24 | $0.24 | $0.05 | ||
| Q3 24 | $-0.56 | $0.01 | ||
| Q2 24 | $-0.43 | $0.06 | ||
| Q1 24 | $0.19 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $184.5M | $28.2M |
| Total DebtLower is stronger | — | $373.2M |
| Stockholders' EquityBook value | $1.5B | $403.5M |
| Total Assets | $6.6B | $928.3M |
| Debt / EquityLower = less leverage | — | 0.93× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $184.5M | $28.2M | ||
| Q3 25 | $382.6M | $40.0M | ||
| Q2 25 | $309.1M | $33.4M | ||
| Q1 25 | $356.6M | $74.4M | ||
| Q4 24 | $217.5M | $67.5M | ||
| Q3 24 | $367.1M | $61.5M | ||
| Q2 24 | $366.5M | $31.2M | ||
| Q1 24 | $541.9M | $29.0M |
| Q4 25 | — | $373.2M | ||
| Q3 25 | — | $393.4M | ||
| Q2 25 | — | $373.0M | ||
| Q1 25 | — | $357.2M | ||
| Q4 24 | — | $319.8M | ||
| Q3 24 | — | $319.4M | ||
| Q2 24 | — | $300.6M | ||
| Q1 24 | — | $314.0M |
| Q4 25 | $1.5B | $403.5M | ||
| Q3 25 | $1.5B | $396.8M | ||
| Q2 25 | $1.6B | $388.9M | ||
| Q1 25 | $1.6B | $374.3M | ||
| Q4 24 | $1.6B | $386.9M | ||
| Q3 24 | $1.6B | $394.1M | ||
| Q2 24 | $1.7B | $396.9M | ||
| Q1 24 | $1.7B | $400.1M |
| Q4 25 | $6.6B | $928.3M | ||
| Q3 25 | $6.7B | $936.0M | ||
| Q2 25 | $6.8B | $932.2M | ||
| Q1 25 | $7.2B | $877.4M | ||
| Q4 24 | $7.0B | $869.3M | ||
| Q3 24 | $7.4B | $857.0M | ||
| Q2 24 | $7.5B | $823.2M | ||
| Q1 24 | $7.7B | $832.8M |
| Q4 25 | — | 0.93× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | — | 0.96× | ||
| Q1 25 | — | 0.95× | ||
| Q4 24 | — | 0.83× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | — | 0.78× |
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 | $11.4M | $23.0M |
| Free Cash FlowOCF − Capex | $-55.2M | $18.1M |
| FCF MarginFCF / Revenue | -45.8% | 22.3% |
| Capex IntensityCapex / Revenue | 55.2% | 6.0% |
| Cash ConversionOCF / Net Profit | 0.20× | 2.43× |
| TTM Free Cash FlowTrailing 4 quarters | $-103.5M | $14.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.4M | $23.0M | ||
| Q3 25 | $-7.6M | $-8.6M | ||
| Q2 25 | $42.0M | $13.4M | ||
| Q1 25 | $-51.9M | $-4.7M | ||
| Q4 24 | $55.1M | $101.0M | ||
| Q3 24 | $-5.6M | $27.5M | ||
| Q2 24 | $36.7M | $34.8M | ||
| Q1 24 | $-5.6M | $11.0M |
| Q4 25 | $-55.2M | $18.1M | ||
| Q3 25 | $-18.0M | $-9.5M | ||
| Q2 25 | $29.4M | $11.6M | ||
| Q1 25 | $-59.7M | $-6.0M | ||
| Q4 24 | $-76.5M | $96.6M | ||
| Q3 24 | $-27.7M | $25.2M | ||
| Q2 24 | $-500.0K | $33.9M | ||
| Q1 24 | $-57.1M | $10.7M |
| Q4 25 | -45.8% | 22.3% | ||
| Q3 25 | -15.5% | -12.6% | ||
| Q2 25 | 21.7% | 15.9% | ||
| Q1 25 | -46.5% | -8.9% | ||
| Q4 24 | -56.5% | 113.6% | ||
| Q3 24 | -21.7% | 34.0% | ||
| Q2 24 | -0.4% | 47.7% | ||
| Q1 24 | -41.9% | 16.2% |
| Q4 25 | 55.2% | 6.0% | ||
| Q3 25 | 8.9% | 1.2% | ||
| Q2 25 | 9.3% | 2.5% | ||
| Q1 25 | 6.1% | 1.9% | ||
| Q4 24 | 97.1% | 5.2% | ||
| Q3 24 | 17.3% | 3.0% | ||
| Q2 24 | 28.2% | 1.3% | ||
| Q1 24 | 37.8% | 0.4% |
| Q4 25 | 0.20× | 2.43× | ||
| Q3 25 | — | -4.01× | ||
| Q2 25 | 7.50× | 3.96× | ||
| Q1 25 | — | -1.05× | ||
| Q4 24 | 1.26× | 19.12× | ||
| Q3 24 | — | 19.54× | ||
| Q2 24 | — | 4.98× | ||
| Q1 24 | -0.15× | 2.18× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KW
| Consolidated Portfolio Segment | $84.9M | 70% |
| Investment Management Fees | $30.4M | 25% |
| Real Estate | $5.1M | 4% |
PX
| Management Fees | $78.1M | 96% |
| Advisory Fees | $1.8M | 2% |
