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Side-by-side financial comparison of Kennedy-Wilson Holdings, Inc. (KW) and Riot Platforms, Inc. (RIOT). Click either name above to swap in a different company.
Riot Platforms, Inc. is the larger business by last-quarter revenue ($152.8M vs $120.6M, roughly 1.3× Kennedy-Wilson Holdings, Inc.). Kennedy-Wilson Holdings, Inc. runs the higher net margin — 48.1% vs -452.0%, a 500.1% gap on every dollar of revenue. On growth, Riot Platforms, Inc. posted the faster year-over-year revenue change (7.2% vs -11.0%). Kennedy-Wilson Holdings, Inc. produced more free cash flow last quarter ($-55.2M vs $-774.3M). Over the past eight quarters, Riot Platforms, Inc.'s revenue compounded faster (38.8% CAGR vs -6.0%).
Kennedy Wilson is a real estate investment company headquartered in Beverly Hills, California, United States.
Riot Platforms, Inc. is a leading U.S.-based enterprise focused on Bitcoin mining, operating multiple large-scale, energy-efficient data centers across North America. It also invests in blockchain infrastructure development and holds Bitcoin as a core long-term reserve asset, centering its business strategy around the digital asset ecosystem.
KW vs RIOT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $120.6M | $152.8M |
| Net Profit | $58.0M | $-690.7M |
| Gross Margin | — | — |
| Operating Margin | 57.3% | -447.9% |
| Net Margin | 48.1% | -452.0% |
| Revenue YoY | -11.0% | 7.2% |
| Net Profit YoY | 32.7% | -606.3% |
| EPS (diluted) | $0.22 | $-1.89 |
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 | $152.8M | ||
| Q3 25 | $116.4M | $180.2M | ||
| Q2 25 | $135.7M | $153.0M | ||
| Q1 25 | $128.3M | $161.4M | ||
| Q4 24 | $135.5M | $142.6M | ||
| Q3 24 | $127.5M | $84.8M | ||
| Q2 24 | $132.0M | $70.0M | ||
| Q1 24 | $136.4M | $79.3M |
| Q4 25 | $58.0M | $-690.7M | ||
| Q3 25 | $-10.2M | $104.5M | ||
| Q2 25 | $5.6M | $219.5M | ||
| Q1 25 | $-29.6M | $-296.4M | ||
| Q4 24 | $43.7M | $136.4M | ||
| Q3 24 | $-66.8M | $-154.4M | ||
| Q2 24 | $-48.3M | $-84.4M | ||
| Q1 24 | $37.7M | $211.8M |
| Q4 25 | 57.3% | -447.9% | ||
| Q3 25 | -6.2% | 44.4% | ||
| Q2 25 | 7.4% | — | ||
| Q1 25 | -26.9% | -144.9% | ||
| Q4 24 | 36.7% | — | ||
| Q3 24 | -60.8% | -143.3% | ||
| Q2 24 | -45.5% | -167.2% | ||
| Q1 24 | 47.2% | — |
| Q4 25 | 48.1% | -452.0% | ||
| Q3 25 | -8.8% | 58.0% | ||
| Q2 25 | 4.1% | 143.4% | ||
| Q1 25 | -23.1% | -183.6% | ||
| Q4 24 | 32.3% | 95.7% | ||
| Q3 24 | -52.4% | -182.1% | ||
| Q2 24 | -36.6% | -120.6% | ||
| Q1 24 | 27.6% | 267.1% |
| Q4 25 | $0.22 | $-1.89 | ||
| Q3 25 | $-0.15 | $0.26 | ||
| Q2 25 | $-0.05 | $0.58 | ||
| Q1 25 | $-0.30 | $-0.90 | ||
| Q4 24 | $0.24 | $0.39 | ||
| Q3 24 | $-0.56 | $-0.54 | ||
| Q2 24 | $-0.43 | $-0.32 | ||
| Q1 24 | $0.19 | $0.51 |
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 | $233.5M |
| Total DebtLower is stronger | — | $840.8M |
| Stockholders' EquityBook value | $1.5B | $2.9B |
| Total Assets | $6.6B | $3.9B |
| Debt / EquityLower = less leverage | — | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $184.5M | $233.5M | ||
| Q3 25 | $382.6M | $330.7M | ||
| Q2 25 | $309.1M | $255.4M | ||
| Q1 25 | $356.6M | $163.7M | ||
| Q4 24 | $217.5M | $277.9M | ||
| Q3 24 | $367.1M | $355.7M | ||
| Q2 24 | $366.5M | $481.2M | ||
| Q1 24 | $541.9M | $688.5M |
| Q4 25 | — | $840.8M | ||
| Q3 25 | — | $5.3M | ||
| Q2 25 | — | $5.3M | ||
| Q1 25 | — | $5.3M | ||
| Q4 24 | — | $584.6M | ||
| Q3 24 | — | $5.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.5B | $2.9B | ||
| Q3 25 | $1.5B | $3.5B | ||
| Q2 25 | $1.6B | $3.3B | ||
| Q1 25 | $1.6B | $2.9B | ||
| Q4 24 | $1.6B | $3.1B | ||
| Q3 24 | $1.6B | $2.7B | ||
| Q2 24 | $1.7B | $2.6B | ||
| Q1 24 | $1.7B | $2.5B |
| Q4 25 | $6.6B | $3.9B | ||
| Q3 25 | $6.7B | $4.5B | ||
| Q2 25 | $6.8B | $4.3B | ||
| Q1 25 | $7.2B | $3.7B | ||
| Q4 24 | $7.0B | $3.9B | ||
| Q3 24 | $7.4B | $2.9B | ||
| Q2 24 | $7.5B | $2.7B | ||
| Q1 24 | $7.7B | $2.6B |
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | — | ||
| Q1 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 | $11.4M | $-572.9M |
| Free Cash FlowOCF − Capex | $-55.2M | $-774.3M |
| FCF MarginFCF / Revenue | -45.8% | -506.6% |
| Capex IntensityCapex / Revenue | 55.2% | 131.8% |
| Cash ConversionOCF / Net Profit | 0.20× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-103.5M | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.4M | $-572.9M | ||
| Q3 25 | $-7.6M | $-114.0M | ||
| Q2 25 | $42.0M | $-231.3M | ||
| Q1 25 | $-51.9M | $-122.1M | ||
| Q4 24 | $55.1M | $-255.1M | ||
| Q3 24 | $-5.6M | $-56.3M | ||
| Q2 24 | $36.7M | $-42.5M | ||
| Q1 24 | $-5.6M | $-57.9M |
| Q4 25 | $-55.2M | $-774.3M | ||
| Q3 25 | $-18.0M | $-139.7M | ||
| Q2 25 | $29.4M | $-291.7M | ||
| Q1 25 | $-59.7M | $-154.9M | ||
| Q4 24 | $-76.5M | $-495.4M | ||
| Q3 24 | $-27.7M | $-127.6M | ||
| Q2 24 | $-500.0K | $-96.1M | ||
| Q1 24 | $-57.1M | $-115.2M |
| Q4 25 | -45.8% | -506.6% | ||
| Q3 25 | -15.5% | -77.5% | ||
| Q2 25 | 21.7% | -190.7% | ||
| Q1 25 | -46.5% | -96.0% | ||
| Q4 24 | -56.5% | -347.5% | ||
| Q3 24 | -21.7% | -150.5% | ||
| Q2 24 | -0.4% | -137.2% | ||
| Q1 24 | -41.9% | -145.2% |
| Q4 25 | 55.2% | 131.8% | ||
| Q3 25 | 8.9% | 14.3% | ||
| Q2 25 | 9.3% | 39.5% | ||
| Q1 25 | 6.1% | 20.4% | ||
| Q4 24 | 97.1% | 168.6% | ||
| Q3 24 | 17.3% | 84.1% | ||
| Q2 24 | 28.2% | 76.5% | ||
| Q1 24 | 37.8% | 72.3% |
| Q4 25 | 0.20× | — | ||
| Q3 25 | — | -1.09× | ||
| Q2 25 | 7.50× | -1.05× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.26× | -1.87× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.15× | -0.27× |
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% |
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
