--- title: "KKR & Co.: Business Model" description: "KKR & Co. revenue by business segment from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained." canonical: https://www.getswoopr.com/stocks/companies/kkr-and-co/business-model/ source: "Swoopr Investment: https://www.getswoopr.com" --- # KKR & Co.: Business Model & Revenue Engine ## Direct Answer KKR & Co. reports revenue across 2 business segments in its fiscal 2025 Form 10-K. Insurance is the largest, with $11.6 billion of revenue (60% of the total), followed by Asset Management and Strategic Holdings at $7.8 billion (40%). ## How Does KKR & Co. Make Money? No single line supplies a majority of revenue: the largest, Insurance, is 60%, which spreads KKR & Co.'s exposure across several demand drivers. Between fiscal 2024 and 2025, Asset Management and Strategic Holdings grew fastest (+8.6%) and Insurance slowest (-20.7%), so the revenue mix tilts toward Asset Management and Strategic Holdings while that gap lasts. | Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change | | --- | --- | --- | --- | --- | | Insurance | $11.6 billion | $14.7 billion | 59.7% | -20.7% | | Asset Management and Strategic Holdings | $7.8 billion | $7.2 billion | 40.3% | 8.6% | ![Bar chart of KKR & Co. revenue by segment for fiscal 2025: Insurance 59.7%, Asset Management and Strategic Holdings 40.3%.](https://www.getswoopr.com/images/charts/kkr-and-co-business-model-segment-mix.webp) *KKR & Co. revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.* ## What the Segment Figures Do Not Show The rows above add up to 100% of KKR & Co.'s reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin. ## Where These Numbers Come From Every figure on this page is a value KKR & Co. reported in the segment note and revenue disclosures of its Form 10-K filed February 27, 2026 (accession 0001404912-26-000007), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading. Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What are KKR & Co.'s business segments? In its fiscal 2025 Form 10-K, KKR & Co. reports revenue for Insurance and Asset Management and Strategic Holdings. ### Which part of KKR & Co. brings in the most revenue? Insurance, with $11.6 billion of revenue in fiscal 2025, or 60% of the total. ### Where does KKR & Co. report its segment results? In the segment note to the financial statements in its Form 10-K, most recently filed February 27, 2026, alongside management's discussion of each segment's results. ## References - [SEC EDGAR: KKR & Co. Inc. Form 10-K filed February 27, 2026](https://www.sec.gov/Archives/edgar/data/1404912/000140491226000007/kkr-20251231.htm) - [SEC EDGAR: KKR & Co. Inc. annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1404912&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) - [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets) ## Related Pages - [KKR & Co. company dossier](https://www.getswoopr.com/stocks/companies/kkr-and-co/) - [KKR & Co. financial metrics](https://www.getswoopr.com/stocks/companies/kkr-and-co/metrics/) - [KKR & Co. financial risk indicators](https://www.getswoopr.com/stocks/companies/kkr-and-co/risks/) - [KKR & Co. peer comparison](https://www.getswoopr.com/stocks/companies/kkr-and-co/competitors/) - [KKR & Co. business model and revenue mix](https://www.getswoopr.com/stocks/companies/kkr-and-co/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. 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