FS KKR Capital Corp.
Description
FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It provides customized credit solutions to private middle market U.S. companies. It invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S. companies. It seeks to purchase interests in loans through secondary market transactions or directly from the target companies as primary market investments. It also seeks to invest in first lien senior secured loans, second lien secured loans and, to a lesser extent, subordinated loans, or mezzanine loans. In connection with the debt investments, the firm also receives equity interests such as warrants or options as additional consideration. It also seek to purchase minority interests in the form of common or preferred equity in our target companies, either in conjunction with one of the debt investments or through a co-investment with a financial sponsor. Additionally, on an opportunistic basis, the fund may also invest in corporate bonds and similar debt securities. The fund does not seek to invest in start-up companies, turnaround situations, or companies with speculative business plans. It seeks to invest in small and middle-market companies based in United States. The fund seeks to invest in firms with annual revenue between $10 million to $2.5 billion. It focus on providing customized one-stop credit solutions to private upper middle market companies with annual EBITDA of $50 million to $100 million at the time of investment. It seeks to exit from securities by selling them in a privately negotiated over- the- counter market. For any investments that are not able to be sold within the secondary market, the firm seeks to exit such investments through repayment, an initial public offering of equity securities, merger, sale or recapitalization.
About
CEO
Mr. Michael Craig Forman J.D.
Employees
0
Instrument type
Common Stock
Sector
Financial Services
Industry
Asset Management
MIC code
XNYS
Address
201 Rouse Boulevard, Philadelphia, PA 19112, United States
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Summary
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 5, 2025 | — | — | — | — |
| Aug 5, 2025 | — | — | — | — |
| May 7, 2025 | — | — | — | — |
| Feb 25, 2025 | 0.67 | — | — | — |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 8 | — | 10 |
| Average estimate | — | 0.67 | — | 2.60 |
| Low estimate | — | 0.64 | — | 2.53 |
| High estimate | — | 0.70 | — | 2.67 |
| Last year EPS | — | 0.76 | — | 2.92 |
[stock_revenue_estimate]
Growth estimates
Current qtr
-7.890%
Next qtr. (Mar 2025)
-11.680%
Current year
-8.240%
Next year (Dec 2025)
-10.980%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 779.00M | 112.00M | 1.54B | -361.00M | 279.00M |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 42.00M | 42.00M | 34.00M | 22.00M | 20.00M |
| Other operating expenses | 16.00M | -46.00M | -18.00M | 12.00M | 6.00M |
| Operating income | — | — | — | — | — |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | — | — | — | — | — |
| Other income expense | — | — | — | — | — |
| Pretax income | 721.00M | 116.00M | 1.53B | -395.00M | 253.00M |
| Tax provision | 25.00M | 24.00M | 12.00M | 10.00M | 7.00M |
| Net income | 696.00M | 92.00M | 1.52B | -405.00M | 246.00M |
| Basic EPS | 2.48 | 0.32 | 7.16 | -3.26 | 1.90 |
| Diluted EPS | 2.48 | 0.32 | 7.16 | -3.26 | 1.90 |
| Basic average shares | 280.28M | 283.51M | 211.67M | 124.29M | 129.74M |
| Diluted average shares | 280.28M | 283.51M | 211.67M | 124.29M | 129.74M |
| EBITDA | — | — | — | — | — |
| Net income from continuing op. | 696.00M | 92.00M | 1.52B | -405.00M | 246.00M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | — | — | — | — | — |
| Current assets | |||||
| Cash | 223.00M | 248.00M | 258.00M | 182.00M | 93.00M |
| Cash equivalents | 8.00M | 3.00M | 119.00M | 9.00M | 13.00M |
| Cash and cash equivalents | 231.00M | 251.00M | 377.00M | 191.00M | 106.00M |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | — | — | — | — | — |
| Other receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Prepaid assets | 8.00M | 9.00M | 5.00M | 4.00M | 3.00M |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | — | — | — | — | — |
| Non current assets | |||||
| Properties | — | — | — | — | — |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | — | — | — | — | — |
| Construction in progress | — | — | — | — | — |
| Leases | — | — | — | — | — |
| Accumulated depreciation | — | — | — | — | — |
| Goodwill | — | — | — | — | — |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | — | — | — | — | — |
| Investments and advances | 14.66B | 15.40B | 16.11B | 6.78B | 7.36B |
| Other non current assets | — | — | — | — | — |
| Total liabilities | — | — | — | — | — |
| Current liabilities | |||||
| Accounts payable | 294.00M | 296.00M | 248.00M | 99.00M | 134.00M |
| Accrued expenses | — | — | — | — | — |
| Short term debt | — | — | — | — | — |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 8.19B | 8.69B | 9.14B | 4.00B | 4.17B |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | 4.00M | 1.00M | 1.00M | 3.00M | — |
| Other non current liabilities | — | — | — | — | — |
| Shareholders equity | |||||
| Common stock | — | — | — | — | 1.00M |
| Retained earnings | -2.59B | -2.60B | -1.93B | -770.00M | -176.00M |
| Other shareholders equity | — | — | — | — | — |
| Total shareholders equity | 6.85B | 7.01B | 7.73B | 3.10B | 3.87B |
| Additional paid in capital | 9.44B | 9.61B | 9.66B | 3.87B | 4.04B |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Net Income | 696.00M | 92.00M | 1.52B | -405.00M | 246.00M | 569.00M | 182.00M | 294.00M | 38.39M | 194.78M | 265.84M | 330.20M | 53.47M | 28.26M | 11.46M |
| Depreciation | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Deferred Taxes | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | -186.00M | -193.00M | -170.00M | -87.00M | -75.00M | -773.00M | -61.00M | -39.00M | -49.65M | -33.96M | -48.41M | -22.04M | -11.09M | -4.42M | -106.23M |
| Accounts Receivable | -97.00M | 281.00M | -475.00M | 494.00M | -535.00M | -170.00M | 77.00M | -78.00M | 26.12M | 13.55M | -9.47M | 23.30M | -79.38M | -8.38M | -417,000 |
| Accounts Payable | — | — | — | — | — | 5.00M | 2.71M | -1.92M | 6.21M | 5.29M | 321,000 | 7.72M | 1.64M | 883,000 | — |
| Other Assets & Liabilities | — | — | 1.00M | -1.00M | — | — | — | — | — | — | — | — | — | — | — |
| Operating Cash Flow | 413.00M | 180.00M | 871.00M | 1.00M | -364.00M | -369.00M | 200.71M | 175.08M | 21.07M | 179.67M | 208.27M | 339.18M | -35.35M | 16.35M | -95.19M |
| Investing Activities | |||||||||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Purchase of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Sale of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing Cash Flow | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing Activities | |||||||||||||||
| Long-Term Debt Issuance | 2.17B | 3.24B | 5.01B | 3.38B | 4.79B | 482.00M | 291.00M | 1.26B | 492.90M | 1.11B | 290.38M | 1.24B | 257.09M | 297.20M | — |
| Long-Term Debt Payments | -2.70B | -3.66B | -3.64B | -3.54B | -4.02B | -732.00M | -278.00M | -1.39B | -518.41M | -921.03M | -266.41M | -140.00M | — | — | — |
| Other Financing Charges | — | — | — | — | — | 197.00M | 16.00M | 11.00M | 19.16M | 57.97M | 109.37M | 98.76M | 36.60M | 7.70M | -911,000 |
| Financing Cash Flow | -1.38B | -1.21B | 853.00M | -550.00M | 284.00M | -310.00M | -189.00M | -338.00M | -185.75M | -279.43M | -110.95M | 1.79B | 1.33B | 569.22M | 81.36M |
| Other Cash Details | |||||||||||||||
| End Cash Position | 231.00M | 251.00M | 377.00M | 191.00M | 106.00M | 104.00M | 139.00M | 265.00M | 81.99M | 96.84M | 227.33M | 338.90M | 210.71M | 38.79M | 9.04M |
| Income Tax Paid | — | — | — | — | — | 6.00M | 5.89M | 6.00M | 5.85M | — | — | — | — | — | — |
| Interest Paid | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | 1.38B | 1.11B | -639.00M | 675.00M | -256.00M | 280.00M | 66.00M | 526.00M | 175.18M | 163.71M | -618,000 | -1.65B | -1.15B | -536.47M | -73.32M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| VanEck ETF Trust -VanEck BDC Income ETF | Nov 30, 2024 | 5,749,883 | 133.57M | 2.05% |
| Invesco ETF Tr-Invesco KBW High Div Yld Financial ETF | Nov 30, 2024 | 720,690 | 16.74M | 0.26% |
| Putnam BDC ETF | Oct 31, 2024 | 342,209 | 7.95M | 0.12% |
| Special Opportunities Fd | Sep 30, 2024 | 171,024 | 3.97M | 0.06% |
| Vanguard Growth and Income Fund | Sep 30, 2024 | 148,600 | 3.45M | 0.05% |
| Bridge Builder Tr-Bridge Builder Small/Mid Cap Value Fd | Sep 30, 2024 | 122,125 | 2.84M | 0.04% |
| Alternative Credit Income Fund | Sep 30, 2024 | 105,137 | 2.44M | 0.04% |
| Invesco ETF Tr-Invesco Global Listed Private Equity ETF | Nov 30, 2024 | 121,719 | 2.83M | 0.04% |
| GraniteShares ETF Tr-GraniteShares HIPS U.S. High Income ETF | Sep 30, 2024 | 114,796 | 2.67M | 0.04% |
| Listed Funds Tr-TrueShares Active Yield ETF | Sep 30, 2024 | 97,716 | 2.27M | 0.03% |
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