FS KKR Capital Corp. is a business development company specializing in investments in debt securities.
FS KKR Capital Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$22.45|
|52 Week High||US$14.22|
|52 Week Low||US$23.45|
|1 Month Change||-1.66%|
|3 Month Change||2.51%|
|1 Year Change||41.20%|
|3 Year Change||-22.59%|
|5 Year Change||-40.36%|
|Change since IPO||-45.24%|
Recent News & Updates
FS KKR: Attractive 12% Yield On Offer At A Bargain Price
FS KKR delivers some solid financial results, outperforming across the top and bottom lines at its first post-merger quarter. The recent Home Partners of America sale could unlock additional earnings potential, further boosting earnings down the line. With shares still at a wide discount to NAV despite offering an increasingly attractive capital return, I see upside ahead.
FS KKR Capital NII beats by $0.01, beats on total investment income
FS KKR Capital (FSK): Q1 NII of $0.63 beats by $0.01.Total investment income of $151M (-15.6% Y/Y) beats by $1.18M.Net asset value of $26.03 per share, compared to $25.02 per share as of December 31, 2020, an increase of 4.0%.Net debt to equity ratio(3) as of the end of the quarter was
FS KKR Capital goes ex-dividend tomorrow
FS KKR Capital (FSK) had declared $0.60/share quarterly dividend, in line with previous.Payable Jan. 5; for shareholders of record Dec. 16; ex-div Dec. 15.See FSK Dividend Scorecard, Yield Chart, & Dividend Growth.
FS KKR Capital's Merger Creates A 25% NAV Discount Opportunity For Investors
FS KKR Capital Corp. (FSK) and FS KKR Capital Corp. II (FSKR) have finally entered into a plan to merge creating a $7.2B behemoth of a BDC. For those following FS/KKR's activities since April of 2018, this move does not come as a surprise and is rather the culmination of 2.5 years of restructuring. The transaction is expected to close during Q2 or Q3 of 2021 following shareholder approval. Both companies saw their shares pop
|FSK||US Capital Markets||US Market|
Return vs Industry: FSK underperformed the US Capital Markets industry which returned 61.6% over the past year.
Return vs Market: FSK exceeded the US Market which returned 30.7% over the past year.
Stable Share Price: FSK is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: FSK's weekly volatility (3%) has been stable over the past year.
About the Company
FS KKR Capital Corp. is a business development company specializing in investments in debt securities. 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.
FS KKR Capital Fundamentals Summary
|FSK fundamental statistics|
Is FSK overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|FSK income statement (TTM)|
|Cost of Revenue||US$0|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||10.86|
|Net Profit Margin||212.44%|
How did FSK perform over the long term?See historical performance and comparison
10.7%Current Dividend Yield
Is FS KKR Capital undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FSK ($22.73) is trading below our estimate of fair value ($41.58)
Significantly Below Fair Value: FSK is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: FSK is good value based on its PE Ratio (4.6x) compared to the US Capital Markets industry average (13.3x).
PE vs Market: FSK is good value based on its PE Ratio (4.6x) compared to the US market (17.1x).
Price to Earnings Growth Ratio
PEG Ratio: FSK's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: FSK is good value based on its PB Ratio (0.8x) compared to the US Capital Markets industry average (61.4x).
How is FS KKR Capital forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FSK's earnings are forecast to decline over the next 3 years (-42.3% per year).
Earnings vs Market: FSK's earnings are forecast to decline over the next 3 years (-42.3% per year).
High Growth Earnings: FSK's earnings are forecast to decline over the next 3 years.
Revenue vs Market: FSK's revenue (24.3% per year) is forecast to grow faster than the US market (9.5% per year).
High Growth Revenue: FSK's revenue (24.3% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: FSK's Return on Equity is forecast to be low in 3 years time (9.1%).
How has FS KKR Capital performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FSK has a large one-off gain of $1.1B impacting its June 30 2021 financial results.
Growing Profit Margin: FSK became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: FSK's earnings have declined by 0.7% per year over the past 5 years.
Accelerating Growth: FSK has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: FSK has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (58.7%).
Return on Equity
High ROE: FSK's Return on Equity (18.5%) is considered low.
How is FS KKR Capital's financial position?
Financial Position Analysis
Short Term Liabilities: FSK's short term assets ($975.0M) exceed its short term liabilities ($350.0M).
Long Term Liabilities: FSK's short term assets ($975.0M) do not cover its long term liabilities ($7.7B).
Debt to Equity History and Analysis
Debt Level: FSK's debt to equity ratio (100.9%) is considered high.
Reducing Debt: FSK's debt to equity ratio has increased from 76% to 100.9% over the past 5 years.
Debt Coverage: FSK's debt is not well covered by operating cash flow (9.6%).
Interest Coverage: FSK's interest payments on its debt are well covered by EBIT (3.1x coverage).
What is FS KKR Capital current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FSK's dividend (10.56%) is higher than the bottom 25% of dividend payers in the US market (1.36%).
High Dividend: FSK's dividend (10.56%) is in the top 25% of dividend payers in the US market (3.6%)
Stability and Growth of Payments
Stable Dividend: FSK has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: FSK has only been paying a dividend for 7 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (22.1%), FSK's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: FSK's dividends in 3 years are not forecast to be well covered by earnings (97.6% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Michael Forman (60 yo)
Mr. Michael Craig Forman, JD, serves as the Chief Executive Officer at FS Structured Products Advisor, LLC. He also serves as the Chief Executive Officer at FS/KKR Advisor, LLC. He serves as the Chief Exec...
Experienced Management: FSK's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.
Experienced Board: FSK's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: FSK insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 130.4%.
FS KKR Capital Corp.'s employee growth, exchange listings and data sources
- Name: FS KKR Capital Corp.
- Ticker: FSK
- Exchange: NYSE
- Founded: 2007
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Market Cap: US$6.481b
- Shares outstanding: 285.13m
- Website: https://www.fsinvestmentcorp.com
- FS KKR Capital Corp.
- 201 Rouse Boulevard
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/16 22:13|
|End of Day Share Price||2021/09/16 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.