FS KKR Capital Corp. (FSK) Key Metrics
FSK valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $2.85B
- Enterprise value
- $9.37B
- P/E (TTM)
- — 10-yr median 9.9
- Forward P/E
- 7.9
- PEG ratio
- 3.27
- Price / sales
- 2.2 10-yr median 4.2
- Price / book
- 0.6 10-yr median 0.7
- EV / EBITDA
- — 10-yr median 18.8
- Dividend yield
- 17.04% $1.76 a year
- Beta
- 0.93
FSK key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsFSK valuation Price multiples at each fiscal year-end price.
P/E ratio+3,526.3%
377.1
2025 · hover or tap a bar for each year
20162025
Price / sales−35.4%
3.5
2025 · hover or tap a bar for each year
20162025
Price / book−22.8%
0.7
2025 · hover or tap a bar for each year
20162025
EV / EBITDA+5.1%
22.7
2025 · hover or tap a bar for each year
20162025
Price / free cash flow+119.0%
7.0
2025 · hover or tap a bar for each year
20162025
Free cash flow yield−17.0 pts
14.3%
2025 · hover or tap a bar for each year
20162025
FSK returns How much profit the business earns on the capital it uses.
Return on equity−8.5 pts
0.2%
2025 · hover or tap a bar for each year
20162025
Return on invested capital−2.0 pts
2.1%
2025 · hover or tap a bar for each year
20162025
Return on assets−3.9 pts
0.1%
2025 · hover or tap a bar for each year
20162025
Free cash flow margin−120.7 pts
50.6%
2025 · hover or tap a bar for each year
20162025
Cash conversion (OCF / net income)+1,556.2%
53.82
2025 · hover or tap a bar for each year
20162025
Asset turnover+12.1%
0.08
2025 · hover or tap a bar for each year
20162025
FSK per-share figures Results divided by the shares outstanding at year-end.
Revenue per share+5.5%
$4.18
2025 · hover or tap a bar for each year
20162025
Earnings per share−98.1%
$0.04
2025 · hover or tap a bar for each year
20162025
Free cash flow per share−68.9%
$2.11
2025 · hover or tap a bar for each year
20162025
Book value per share−11.7%
$20.88
2025 · hover or tap a bar for each year
20162025
Dividends per share−22.2%
$2.80
2025 · hover or tap a bar for each year
20162025
Shares outstanding0.0%
280.1M
2025 · hover or tap a bar for each year
20162025
FSK financial health Debt, liquidity and how easily interest is covered.
Debt / equity+17.6%
1.31
2025 · hover or tap a bar for each year
20162025
Net debt+$398.0M
$7.45B
2025 · hover or tap a bar for each year
20162025
Net debt / EBITDA+2.98
14.59
2025 · hover or tap a bar for each year
20162025
Interest coverage−8.3%
1.2
2025 · hover or tap a bar for each year
20162025
Debt / assets+7.6%
0.56
2025 · hover or tap a bar for each year
20162025
FSK efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding−27 days
122 days
2025 · hover or tap a bar for each year
20162025
Days payables outstanding−65 days
100 days
2025 · hover or tap a bar for each year
20162025
Cash conversion cycle+38 days
22 days
2025 · hover or tap a bar for each year
20162025
Capex / revenue0.0 pts
0.0%
2025 · hover or tap a bar for each year
20162025
Dividends + buybacks / FCF+79.4 pts
132.4%
2025 · hover or tap a bar for each year
20162025
FSK valuation history
Fiscal year-endToday10-year median
FSK returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FSK debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FSK cash returned to shareholders
DividendsBuybacksFree cash flow
FSK price vs earnings per share
Share price at year-endEPS (right axis)
FSK key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $4.15B | $6.08B | $5.60B | $4.96B | $4.43B | $2.06B | $3.18B | $1.30B | $1.80B | $2.51B |
| Enterprise value | $11.60B | $13.14B | $13.55B | $13.40B | $13.20B | $5.86B | $7.25B | $5.91B | $4.45B | $5.00B |
| P/E ratio | 377.1 | 10.4 | 8.0 | 53.9 | 2.9 | — | 12.9 | 2.3 | 9.9 | 8.5 |
| Price / sales | 3.5 | 5.5 | 4.6 | 10.7 | 4.1 | 3.2 | 4.1 | 3.3 | 4.3 | 6.5 |
| Price / book | 0.7 | 0.9 | 0.8 | 0.7 | 0.6 | 0.7 | 0.8 | 0.3 | 0.8 | 1.1 |
| Price / free cash flow | 7.0 | 3.2 | 8.9 | 4.5 | — | 3.0 | — | 4.7 | 27.2 | 4.8 |
| Price / operating cash flow | 7.0 | 3.2 | 8.9 | 4.5 | — | 3.0 | — | 4.7 | 27.2 | 4.8 |
| EV / sales | 9.9 | 11.8 | 11.0 | 29.0 | 12.2 | 9.2 | 9.3 | 15.0 | 10.6 | 12.9 |
| EV / EBITDA | 22.7 | 21.6 | 18.8 | 115.6 | 16.3 | — | 28.6 | 9.1 | 17.1 | 16.7 |
| EV / free cash flow | 19.6 | 6.9 | 21.5 | 12.1 | — | 8.7 | — | 21.1 | 67.1 | 9.5 |
| Earnings yield | 0.3% | 9.6% | 12.4% | 1.9% | 34.2% | −19.7% | 7.7% | 43.7% | 10.1% | 11.7% |
| Free cash flow yield | 14.3% | 31.3% | 11.3% | 22.3% | −14.4% | 32.8% | −8.0% | 21.5% | 3.7% | 21.0% |
| Dividend yield | 18.9% | 16.6% | 14.7% | 14.9% | 11.3% | 16.5% | 10.8% | 15.9% | 12.1% | 8.7% |
| Shareholder yield (dividends + buybacks) | 18.9% | 16.6% | 15.3% | 16.0% | 11.6% | 18.8% | 15.6% | 19.7% | 12.1% | 8.7% |
| Share price at fiscal year-end | $14.81 | $21.72 | $19.97 | $17.50 | $20.94 | $16.56 | $24.52 | $20.72 | $29.40 | $41.20 |
| Per share | ||||||||||
| Revenue per share | $4.18 | $3.96 | $4.39 | $1.63 | $5.11 | $5.14 | $6.00 | $6.27 | $6.83 | $6.36 |
| Earnings per share | $0.04 | $2.09 | $2.48 | $0.32 | $7.16 | −$3.26 | $1.90 | $9.05 | $2.97 | $4.83 |
| Operating cash flow per share | $2.11 | $6.79 | $2.25 | $3.90 | −$3.02 | $5.43 | −$1.97 | $4.46 | $1.08 | $8.64 |
| Free cash flow per share | $2.11 | $6.79 | $2.25 | $3.90 | −$3.02 | $5.43 | −$1.97 | $4.46 | $1.08 | $8.64 |
| Cash per share | $0.65 | $1.06 | $0.82 | $0.89 | $1.78 | $1.54 | $0.82 | $1.61 | $2.20 | $4.35 |
| Book value per share | $20.88 | $23.64 | $24.44 | $24.73 | $36.52 | $24.91 | $29.80 | $66.29 | $37.26 | $37.75 |
| Tangible book value per share | $20.88 | $23.64 | $24.44 | $24.73 | $36.52 | $24.91 | $29.80 | $66.29 | $37.26 | $37.75 |
| Dividends per share | $2.80 | $3.60 | $2.94 | $2.60 | $2.37 | $2.74 | $2.64 | $3.29 | $3.56 | $3.57 |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Debt per share | $27.26 | $26.25 | $29.21 | $30.67 | $43.19 | $32.16 | $32.17 | $74.98 | $45.43 | $45.37 |
| Shares outstanding | 280.1M | 280.1M | 280.3M | 283.5M | 211.7M | 124.3M | 129.7M | 62.8M | 61.3M | 60.9M |
| Change in shares outstanding | +0.0% | −0.1% | −1.1% | +33.9% | +70.3% | −4.2% | +106.4% | +2.5% | +0.7% | +0.6% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 0.2% | 8.7% | 10.0% | 1.2% | 28.0% | −11.6% | 6.1% | 17.6% | 7.9% | 13.0% |
| Return on invested capital (ROIC) | 2.1% | 4.1% | 4.6% | 0.6% | 13.0% | −4.2% | 2.9% | 9.4% | 5.2% | 6.6% |
| Return on assets (ROA) | 0.1% | 3.9% | 4.4% | 0.6% | 12.4% | −5.2% | 3.1% | 9.6% | 4.4% | 7.1% |
| Return on tangible assets | 0.1% | 4.1% | 4.5% | 0.6% | 8.8% | −5.6% | 3.0% | 7.4% | 4.4% | 7.2% |
| Free cash flow margin | 50.6% | 171.3% | 51.3% | 239.1% | −59.1% | 105.6% | −32.9% | 71.1% | 15.8% | 135.9% |
| Income quality (OCF / net income) | 53.82 | 3.25 | 0.91 | 12.03 | −0.42 | — | −1.04 | 0.49 | 0.36 | 1.79 |
| Financial health | ||||||||||
| Total debt | $7.63B | $7.35B | $8.19B | $8.69B | $9.14B | $4.00B | $4.17B | $4.71B | $2.79B | $2.76B |
| Cash & short-term investments | $181.0M | $296.0M | $231.0M | $251.0M | $377.0M | $191.0M | $106.0M | $101.0M | $134.9M | $264.6M |
| Net debt | $7.45B | $7.05B | $7.96B | $8.44B | $8.77B | $3.81B | $4.07B | $4.61B | $2.65B | $2.50B |
| Debt / equity | 1.31 | 1.11 | 1.20 | 1.24 | 1.18 | 1.29 | 1.08 | 1.13 | 1.22 | 1.20 |
| Debt / assets | 0.56 | 0.52 | 0.53 | 0.54 | 0.53 | 0.55 | 0.51 | 0.61 | 0.68 | 0.67 |
| Net debt / EBITDA | 14.59 | 11.60 | 11.03 | 72.78 | 10.82 | — | 16.08 | 7.06 | 10.15 | 8.32 |
| Current ratio | — | 6.08 | 2.64 | 2.33 | 4.42 | 4.40 | 6.31 | 2.06 | 1.25 | 2.46 |
| Quick ratio | — | 6.08 | 1.90 | 2.33 | 4.42 | 4.40 | 6.31 | 54.12 | 39.74 | 36.76 |
| Interest coverage | 1.2 | 1.4 | 1.6 | 0.3 | 6.6 | -2.3 | 1.5 | 7.8 | 3.5 | 4.3 |
| Working capital | — | $559.0M | $481.0M | $394.0M | $849.0M | $337.0M | $711.0M | $157.0M | $27.4M | $178.6M |
| Invested capital | $13.30B | $13.68B | $14.80B | $15.46B | $16.50B | $6.90B | $7.93B | $8.78B | $4.94B | $4.79B |
| Tangible asset value | $5.85B | $6.62B | $6.85B | $7.01B | $7.73B | $3.10B | $3.87B | $4.17B | $2.28B | $2.30B |
| Net current asset value | −$7.70B | −$6.93B | −$7.84B | −$8.42B | −$8.40B | −$3.71B | −$3.50B | −$3.23B | −$1.68B | −$1.51B |
| Graham number | $4.30 | $33.34 | $36.95 | $13.44 | $76.69 | — | $35.66 | $116.21 | $49.88 | $64.05 |
| Graham net-net per share | −$26.39 | −$25.07 | −$28.11 | −$30.09 | −$40.54 | −$30.30 | −$28.44 | −$113.57 | −$60.80 | −$58.44 |
| Capital allocation | ||||||||||
| Dividends paid | $784.0M | $1.01B | $823.0M | $738.0M | $502.0M | $340.0M | $342.0M | $207.0M | $218.0M | $217.0M |
| Share buybacks (net) | $0 | $0 | $32.0M | $56.0M | $12.0M | $47.0M | $153.0M | $50.0M | — | $0 |
| Dividend payout ratio | — | 172.3% | 118.2% | 802.2% | 33.1% | — | 139.0% | 36.4% | 119.8% | 73.8% |
| Dividends + buybacks / free cash flow | 132.4% | 53.0% | 135.5% | 71.7% | — | 57.3% | — | 91.8% | 328.4% | 41.3% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Capex / operating cash flow | 0.0% | 0.0% | 0.0% | 0.0% | — | 0.0% | — | 0.0% | 0.0% | 0.0% |
| Capex / depreciation | 0.00 | — | — | 0.00 | — | 0.00 | 0.00 | 0.00 | — | — |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 3.2% | 3.3% | 3.4% | 9.1% | 3.1% | 3.4% | 2.6% | 3.0% | 2.5% | 3.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 122.2 | 149.5 | 144.7 | 456.8 | 162.9 | 281.0 | 220.9 | 110.3 | 63.7 | 69.2 |
| Days of inventory on hand | — | — | 174.0 | — | — | — | — | -12,493.8 | -7,511.9 | -10,609.5 |
| Days payables outstanding | 100.0 | 165.3 | 238.7 | 282.8 | 5,277.3 | 154.1 | 113.7 | 158.8 | 137.0 | 407.8 |
| Cash conversion cycle (days) | 22.2 | -15.9 | 79.9 | 174.0 | -5,114.4 | 127.0 | 107.3 | -12,542.3 | -7,585.2 | -10,948.1 |
| Receivables turnover | 2.99 | 2.44 | 2.52 | 0.80 | 2.24 | 1.30 | 1.65 | 3.31 | 5.73 | 5.28 |
| Payables turnover | 3.65 | 2.21 | 1.53 | 1.29 | 0.07 | 2.37 | 3.21 | 2.30 | 2.66 | 0.90 |
| Inventory turnover | — | — | 2.10 | — | — | — | — | — | — | — |
| Asset turnover | 0.08 | 0.07 | 0.08 | 0.03 | 0.09 | 0.08 | 0.10 | 0.07 | 0.10 | 0.09 |
| Average receivables | $392.0M | $454.5M | $487.5M | $579.5M | $482.5M | $492.0M | $471.5M | $119.1M | $73.1M | $73.3M |
| Average payables | $97.5M | $202.0M | $295.0M | $272.0M | $173.5M | $116.5M | $106.5M | $75.3M | $75.9M | $78.2M |
| Average inventory | — | — | $215.0M | — | — | — | — | −$5.92B | −$4.16B | −$2.03B |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from FSK's annual financial statements (latest annual report filed February 25, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FSK valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), FS KKR Capital traded at 377.1 times earnings, against a 10-year median of 9.9. FS KKR Capital earned a return on equity of 0.2% and a return on invested capital of 2.1% in fiscal 2025. It ended the year with $7.6 billion of debt and $181.0 million in cash and short-term investments, net debt of $7.5 billion. It returned $784.0 million to shareholders: $784.0 million in dividends and $0 in share buybacks, 132% of free cash flow. The share count rose 360.2% from 60.9M to 280.1M over 9 years.
See the FSK income statement, the FSK chart for price history, or the FSK stock overview for the latest quote and news.
FSK key metrics FAQ
What is FS KKR Capital's P/E ratio?
FS KKR Capital traded at 377.1 times earnings at the end of fiscal 2025.
What is FS KKR Capital's EV/EBITDA?
FS KKR Capital's enterprise value was 22.7 times EBITDA at the end of fiscal 2025 (enterprise value $11.6 billion, EBITDA $511.0 million).
What is FS KKR Capital's return on equity?
FS KKR Capital's return on equity (ROE) was 0.2% in fiscal 2025: net income of $11.0 million on average shareholders' equity of $6.2 billion.
What is FS KKR Capital's ROIC?
FS KKR Capital's return on invested capital was 2.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does FS KKR Capital have?
FS KKR Capital had total debt of $7.6 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.31 and $7.5 billion of net debt (14.59 times EBITDA).
What is FS KKR Capital's dividend yield?
FS KKR Capital's forward dividend yield is 17.04%. FS KKR Capital paid $784.0 million in dividends in fiscal 2025 ($2.80 per share), a payout ratio of —.
What is FS KKR Capital's free cash flow yield?
FS KKR Capital generated $592.0 million of free cash flow in fiscal 2025, a free cash flow yield of 14.3% on its market value at year-end ($4.1 billion).