(FSK) FS KKR Capital - Ratings and Ratios
Senior Secured Debt, Subordinated Debt, Equity Warrants, Mezzanine Loans
Dividends
| Dividend Yield | 18.11% |
| Yield on Cost 5y | 31.53% |
| Yield CAGR 5y | 17.14% |
| Payout Consistency | 97.2% |
| Payout Ratio | 2.5% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 17.3% |
| Value at Risk 5%th | 28.5% |
| Relative Tail Risk | 0.13% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.70 |
| Alpha | -27.48 |
| CAGR/Max DD | 0.31 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.630 |
| Beta | 0.756 |
| Beta Downside | 0.729 |
| Drawdowns 3y | |
|---|---|
| Max DD | 34.32% |
| Mean DD | 5.89% |
| Median DD | 2.23% |
Description: FSK FS KKR Capital November 06, 2025
FS KKR Capital Corp. (NYSE: FSK) is a Business Development Company that focuses on providing bespoke credit solutions to U.S. middle-market companies. It primarily acquires senior secured debt-often first-lien loans-through secondary-market purchases or direct primary issuances, and to a lesser extent takes subordinated or mezzanine debt, sometimes accompanied by equity kickers such as warrants. The firm also makes minority equity investments when paired with debt deals or co-invested with sponsors, and it may opportunistically buy corporate bonds. Its target universe consists of privately held firms with revenues of $10 million to $2.5 billion and EBITDA of $50 million–$100 million; it avoids startups, turnarounds, or speculative businesses. Exits are pursued via OTC secondary sales, repayments, IPOs, mergers, sales, or recapitalizations.
As of FY 2023, FSK reported a net asset value (NAV) of roughly $1.2 billion and delivered an annualized distribution yield near 8.5%, reflecting its high-yield, senior-secured loan focus. The portfolio is about 85 % senior secured loans with an average loan-to-value ratio of 70 % and a weighted-average maturity of 5 years, positioning the BDC to benefit from a low-default environment in the U.S. middle market. Key economic drivers include the prevailing interest-rate spread (which supports loan pricing), corporate cash-flow health in the $10 M–$2.5 B revenue segment, and the continued demand for non-bank financing amid tighter bank lending standards.
For a deeper dive into FSK’s risk-adjusted return profile and how its credit exposure stacks up against sector benchmarks, you may find ValueRay’s analytics platform a useful next step.
Piotroski VR‑10 (Strict, 0-10) 4.0
| Net Income (272.0m TTM) > 0 and > 6% of Revenue (6% = 49.3m TTM) |
| FCFTA 0.06 (>2.0%) and ΔFCFTA -1.45pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 17.52% (prev 80.91%; Δ -63.39pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.06 (>3.0%) and CFO 784.0m > Net Income 272.0m (YES >=105%, WARN >=100%) |
| Net Debt (7.16b) to EBITDA (310.0m) ratio: 23.11 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.54 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (280.1m) change vs 12m ago 0.00% (target <= -2.0% for YES) |
| Gross Margin 44.04% (prev 56.62%; Δ -12.58pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 5.66% (prev 6.98%; Δ -1.33pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 1.28 (EBITDA TTM 310.0m / Interest Expense TTM 460.0m) >= 6 (WARN >= 3) |
Altman Z'' -0.81
| (A) 0.01 = (Total Current Assets 412.0m - Total Current Liabilities 268.0m) / Total Assets 13.91b |
| (B) -0.22 = Retained Earnings (Balance) -3.12b / Total Assets 13.91b |
| (C) 0.04 = EBIT TTM 590.0m / Avg Total Assets 14.53b |
| (D) -0.40 = Book Value of Equity -3.10b / Total Liabilities 7.75b |
| Total Rating: -0.81 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 57.19
| 1. Piotroski 4.0pt |
| 2. FCF Yield 6.72% |
| 3. FCF Margin 95.38% |
| 4. Debt/Equity 1.19 |
| 5. Debt/Ebitda 23.11 |
| 6. ROIC - WACC (= -0.19)% |
| 7. RoE 4.27% |
| 8. Rev. Trend -0.85% |
| 9. EPS Trend -41.12% |
What is the price of FSK shares?
Over the past week, the price has changed by +2.70%, over one month by +6.21%, over three months by -6.82% and over the past year by -15.81%.
Is FSK a buy, sell or hold?
- Strong Buy: 1
- Buy: 0
- Hold: 8
- Sell: 0
- Strong Sell: 1
What are the forecasts/targets for the FSK price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 17.3 | 12.1% |
| Analysts Target Price | 17.3 | 12.1% |
| ValueRay Target Price | 19.6 | 26.8% |
FSK Fundamental Data Overview December 02, 2025
P/E Trailing = 16.4286
P/E Forward = 7.593
P/S = 2.8575
P/B = 0.7321
Beta = 0.86
Revenue TTM = 822.0m USD
EBIT TTM = 590.0m USD
EBITDA TTM = 310.0m USD
Long Term Debt = 7.35b USD (from longTermDebt, last fiscal year)
Short Term Debt = unknown (none)
Debt = 7.32b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 7.16b USD (from netDebt column, last quarter)
Enterprise Value = 11.67b USD (4.51b + Debt 7.32b - CCE 155.0m)
Interest Coverage Ratio = 1.28 (Ebit TTM 590.0m / Interest Expense TTM 460.0m)
FCF Yield = 6.72% (FCF TTM 784.0m / Enterprise Value 11.67b)
FCF Margin = 95.38% (FCF TTM 784.0m / Revenue TTM 822.0m)
Net Margin = 33.09% (Net Income TTM 272.0m / Revenue TTM 822.0m)
Gross Margin = 44.04% ((Revenue TTM 822.0m - Cost of Revenue TTM 460.0m) / Revenue TTM)
Gross Margin QoQ = 66.28% (prev none%)
Tobins Q-Ratio = 0.84 (Enterprise Value 11.67b / Total Assets 13.91b)
Interest Expense / Debt = 1.58% (Interest Expense 116.0m / Debt 7.32b)
Taxrate = 1.83% (4.00m / 218.0m)
NOPAT = 579.2m (EBIT 590.0m * (1 - 1.83%))
Current Ratio = 1.54 (Total Current Assets 412.0m / Total Current Liabilities 268.0m)
Debt / Equity = 1.19 (Debt 7.32b / totalStockholderEquity, last quarter 6.16b)
Debt / EBITDA = 23.11 (Net Debt 7.16b / EBITDA 310.0m)
Debt / FCF = 9.14 (Net Debt 7.16b / FCF TTM 784.0m)
Total Stockholder Equity = 6.37b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.96% (Net Income 272.0m / Total Assets 13.91b)
RoE = 4.27% (Net Income TTM 272.0m / Total Stockholder Equity 6.37b)
RoCE = 4.30% (EBIT 590.0m / Capital Employed (Equity 6.37b + L.T.Debt 7.35b))
RoIC = 4.13% (NOPAT 579.2m / Invested Capital 14.04b)
WACC = 4.32% (E(4.51b)/V(11.83b) * Re(8.80%) + D(7.32b)/V(11.83b) * Rd(1.58%) * (1-Tc(0.02)))
Discount Rate = 8.80% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.00%
[DCF Debug] Terminal Value 75.44% ; FCFE base≈899.6m ; Y1≈892.5m ; Y5≈931.9m
Fair Price DCF = 51.38 (DCF Value 14.39b / Shares Outstanding 280.1m; 5y FCF grow -1.53% → 3.0% )
EPS Correlation: -41.12 | EPS CAGR: -3.83% | SUE: 0.0 | # QB: 0
Revenue Correlation: -0.85 | Revenue CAGR: 7.21% | SUE: -0.13 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.55 | Chg30d=-0.020 | Revisions Net=-4 | Analysts=11
EPS next Year (2026-12-31): EPS=2.09 | Chg30d=-0.083 | Revisions Net=-9 | Growth EPS=-11.6% | Growth Revenue=-10.0%
Additional Sources for FSK Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle