(FSK) FS KKR Capital - NYSE
Sector: Financial Services | Industry: Asset Management | Exchange: NYSE (USA) | Market Cap: 2.876m USD | Total Return: -39.9% in 12m
Avg Turnover: 29.7M
EPS Trend: -91.6%
Qual. Beats: -2
Rev. Trend: -62.2%
Qual. Beats: -2
Warnings
Below Avwap Earnings
Tailwinds
No distinct edge detected
FS KKR Capital Corp. (NYSE: FSK) is a business development company (BDC) that provides customized credit solutions to private U.S. middle-market companies. BDCs are regulated under the Investment Company Act of 1940 and generally must distribute most of their taxable income as dividends, making them a yield-oriented vehicle within the financials sector.
The fund invests primarily in senior secured debt-chiefly first lien loans, with second lien and mezzanine loans to a lesser extent-acquired either in the secondary loan market or directly from borrowers. Debt investments are often paired with equity kickers such as warrants or options, and FSK may take minority common or preferred equity stakes alongside a debt position or via co-investment with a financial sponsor. Corporate bonds are pursued on an opportunistic basis.
FSK targets established, cash-generating U.S. businesses with annual revenue between $10 million and $2.5 billion, focusing on upper middle-market companies with EBITDA of $50 million to $150 million or more at investment. It explicitly avoids start-ups, turnarounds, and speculative business plans. Portfolio exits are pursued through over-the-counter loan sales, loan repayments, IPOs, mergers, sales, or recapitalizations.
- Floating-rate loan yields rise with elevated SOFR benchmark
- Non-accruals and credit losses pressure NAV as middle market weakens
- Private credit origination volumes accelerate through KKR partnership
| Net Income: -550.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -3.63 > 1.0 |
| NWC/Revenue: 82.47% < 20% (prev 42.94%; Δ 39.53% < -1%) |
| CFO/TA 0.03 > 3% & CFO 409.0m > Net Income -550.0m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: error (cannot be calculated; needs correct Total Current Assets and Liabilities) |
| Outstanding Shares: last quarter (280.1m) vs 12m ago 0.00% < -2% |
| Gross Margin: 33.56% > 18% (prev 57.16%; Δ -23.60% > 0.5%) |
| Asset Turnover: 4.32% > 50% (prev 7.07%; Δ -2.75% > 0%) |
| Interest Coverage Ratio: -0.70 > 6 (EBIT TTM -323.0m / Interest Expense TTM 461.0m) |
| A: 0.04 (Total Current Assets 494.0m - Total Current Liabilities 0.0) / Total Assets 12.8b |
| B: -0.31 (Retained Earnings -3.92b / Total Assets 12.8b) |
| C: -0.02 (EBIT TTM -323.0m / Avg Total Assets 13.9b) |
| D: 0.70 (Book Value of Equity 5.27b / Total Liabilities 7.55b) |
| Altman-Z'' = -0.17 = B |
As of June 27, 2026, the stock is trading at USD 10.40 with a total of 2,050,784 shares traded. Over the past week, the price has changed by +1.27%, over one month by -0.08%, over three months by +6.20% and over the past year by -39.88%.
Current recommended Stop Loss: 9.60 (which is 7.7% or 2.8 ATR below the current price).
FS KKR Capital has received a consensus analysts rating of 3.00. Therefore, it is recommended to hold FSK.
- StrongBuy: 1
- Buy: 0
- Hold: 8
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 11.5 | 10.6% |
P/E Forward = 6.1125
P/S = 2.0213
P/B = 0.5454
P/EG = 3.2724
Revenue TTM = 599.0m USD
EBIT TTM = -323.0m USD
EBITDA TTM = -145.0m USD
Long Term Debt = 7.63b USD (from longTermDebt, last fiscal year)
Short Term Debt = unknown (none)
Debt = 7.63b USD (corrected: LT Debt 7.63b + ST Debt none)
Net Debt = 7.51b USD (calculated: Debt 7.63b - CCE 124.0m)
Enterprise Value = 10.4b USD (2.88b + Debt 7.63b - CCE 124.0m)
Interest Coverage Ratio = -0.70 (Ebit TTM -323.0m / Interest Expense TTM 461.0m)
EV/FCF = 25.39x (Enterprise Value 10.4b / FCF TTM 409.0m)
FCF Yield = 3.94% (FCF TTM 409.0m / Enterprise Value 10.4b)
FCF Margin = 68.28% (FCF TTM 409.0m / Revenue TTM 599.0m)
Net Margin = -91.82% (Net Income TTM -550.0m / Revenue TTM 599.0m)
Gross Margin = 33.56% ((Revenue TTM 599.0m - Cost of Revenue TTM 398.0m) / Revenue TTM)
Gross Margin QoQ = 27.62% (prev 61.24%)
Tobins Q-Ratio = 0.81 (Enterprise Value 10.4b / Total Assets 12.8b)
Interest Expense / Debt = 6.04% (Interest Expense 461.0m / Debt 7.63b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -255.2m (EBIT -323.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = unknown (Total Current Assets 494.0m / Total Current Liabilities 0.0)
Debt / Equity = 1.45 (Debt 7.63b / totalStockholderEquity, last quarter 5.27b)
Debt / EBITDA = -51.79 (negative EBITDA) (Net Debt 7.51b / EBITDA -145.0m)
Debt / FCF = 18.36 (Net Debt 7.51b / FCF TTM 409.0m)
Total Stockholder Equity = 5.86b (last 4 quarters mean from totalStockholderEquity)
RoA = -3.97% (Net Income -550.0m / Total Assets 12.8b)
RoE = -9.39% (Net Income TTM -550.0m / Total Stockholder Equity 5.86b)
RoCE = -2.39% (EBIT -323.0m / Capital Employed (Equity 5.86b + L.T.Debt 7.63b))
RoIC = -2.54% (negative operating profit) (EBIT -323.0m / (Assets 12.8b - Curr.Liab 0.0 - Cash 124.0m))
WACC = 5.74% (E(2.88b)/V(10.5b) * Re(8.32%) + D(7.63b)/V(10.5b) * Rd(6.04%) * (1-Tc(0.21)))
Discount Rate = 8.32% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 0.0 | Cagr: 0.0%
[DCF] Terminal Value 73.10% ; FCFF base≈652.2m ; Y1≈571.9m ; Y5≈462.1m
[DCF] Fair Price = N/A (negative equity: EV 7.42b - Net Debt 7.51b = -92.7m; debt exceeds intrinsic value)
EPS Correlation: -91.61 | EPS CAGR: -13.49% | SUE: -2.93 | # QB: -2
Revenue Correlation: -62.24 | Revenue CAGR: -15.53% | SUE: -0.98 | # QB: -2
EPS current Quarter (2026-06-30): EPS=0.42 | Chg30d=-3.92% | Revisions=-45% | Analysts=10
EPS next Quarter (2026-09-30): EPS=0.42 | Chg30d=-2.57% | Revisions=-27% | Analysts=10
EPS current Year (2026-12-31): EPS=1.62 | Chg30d=-4.72% | Revisions=-54% | GrowthEPS=-30.6% | GrowthRev=-25.3%
EPS next Year (2027-12-31): EPS=1.55 | Chg30d=-4.64% | Revisions=-54% | GrowthEPS=-4.5% | GrowthRev=-4.5%
[Analyst] Revisions Ratio: -54%