BX vs KKR: Blackstone vs KKR Stock Comparison: AI Score, Valuation, Performance and Upside
Blackstone and KKR are two of the world's premier alternative asset managers, both compounding AUM and fee-related earnings across private equity, real assets, and credit. Blackstone is larger and more real-estate-focused; KKR has made a distinctive strategic bet on insurance via Global Atlantic and has stronger Asia-Pacific and private credit positioning.
Use this BX vs KKR comparison to choose between the largest alternative asset manager and a differentiated competitor with an insurance-linked capital strategy. Blackstone benefits from scale and brand in real estate and private equity; KKR's Global Atlantic provides a structural source of low-cost capital that accelerates its credit and infrastructure deployment.
KKR holds the edge across 3 of 5 key metrics in this comparison. KKR leads on both 1-year return (-25.92%) and forward P/E quality (14.48x vs 18.28x for BX), a relatively favorable combination of momentum and valuation. BX leads on both revenue growth (28.60%) and operating margin (54.36%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies meaningfully more upside for KKR (+19.29%) than for BX (+5.20%).
Human Wall Street analysts' price targets, typically implying a ~12-month view — a separate signal from this site's own AI Prediction Signal further down the page, which is a 5-/30-day machine-learning forecast based on price history alone.
- Want exposure to the world's largest alternative asset manager with unrivalled scale and LP access
- Value BREIT and retail investor products as a structural long-term AUM growth channel
- Believe real estate and infrastructure are durable alternative asset categories for secular AUM growth
- Prefer the highest fee-related earnings base and brand recognition in the alternative asset space
- Want an alternative asset manager with a distinctive insurance-linked capital strategy via Global Atlantic
- Value KKR's strong private credit franchise as a beneficiary of bank retreat from direct lending
- Prefer KKR's Asia-Pacific investment exposure as a geographic diversification vs Blackstone's US-heavy portfolio
- Are comfortable with a slightly lower AUM base than BX in exchange for KKR's strategic capital differentiation
| Metric | BX | KKR |
|---|---|---|
| AI scorei | 59.6 | 59.1 |
| AI ranki | #146 | #152 |
| Latest closei | $117.97 | $91.34 |
| 1M returni | -1.09% | -6.04% |
| 3M returni | -9.25% | -8.07% |
| 6M returni | -3.03% | -10.30% |
| 1Y returni | -27.05% | -25.92% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | BX | KKR |
|---|---|---|
| 1Y ago | $7.61K (-23.9%) started 2025-10-23 | $7.55K (-24.5%) started 2025-10-23 |
| 5Y ago | $11.03K (+10.3%) started 2021-10-25 | $13.05K (+30.5%) started 2021-10-25 |
| 10Y ago | $115.08K (+1050.8%) started 2016-10-24 | $86.23K (+762.3%) started 2016-10-24 |
Hypothetical — past performance does not guarantee future results.
| Metric | BX | KKR |
|---|---|---|
| Market capi | $163.67B | $99.08B |
| Trailing P/Ei | 30.63 | 34.27 |
| Forward P/Ei | 18.28 | 14.48 |
| Price/Salesi | N/A | N/A |
| EV/Revenuei | 8.74 | 6.04 |
| Analyst targeti | $144.05 | $127.98 |
| Target upsidei | +5.20% | +19.29% |
| Metric | BX | KKR |
|---|---|---|
| Revenue growthi | 28.60% | 7.80% |
| Earnings growthi | 57.30% | 40.00% |
| EPS growthi | +57.30% | +40.00% |
| FCF margini | N/A | N/A |
| Operating margini | 54.36% | 20.65% |
| Profit margini | 22.73% | 12.20% |
| ROIC proxyi | 31.37% | 7.28% |
| Return on equityi | 31.37% | 7.28% |
| Dividend yieldi | 3.83% | 0.73% |
| Payout ratioi | 111.19% | 23.96% |
| Dividend growth streaki | No increase yet | No increase yet |
| Betai | 1.55 | 1.79 |
| Debt/equityi | 68.19 | 69.81 |
| Current ratioi | 0.87 | 0.86 |
| Quick ratioi | 0.83 | 0.82 |
Over the past year, BX and KKR have moved strongly in the same direction (correlation of 0.83), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | BX | KKR |
|---|---|---|---|
| 1Y | Growthi | -23.88% | -24.49% |
| CAGRi | -23.91% | -24.52% | |
| Volatilityi | 37.14% | 37.67% | |
| Sharpe ratioi | -0.67 | -0.68 | |
| Sortino ratioi | -0.92 | -0.91 | |
| Max drawdowni | 37.54% | 41.25% | |
| Current drawdowni | 27.85% | 36.02% | |
| Avg drawdowni | 19.50% | 24.67% | |
| Ulcer Indexi | 22.22% | 27.61% | |
| Max daily dropi | 6.23% | 9.69% | |
| Max wkly dropi | 12.44% | 13.75% | |
| 5Y | Growthi | -3.85% | +26.17% |
| CAGRi | -0.78% | +4.76% | |
| Volatilityi | 39.85% | 39.76% | |
| Sharpe ratioi | 0.07 | 0.20 | |
| Sortino ratioi | 0.09 | 0.29 | |
| Max drawdowni | 49.29% | 49.65% | |
| Current drawdowni | 39.81% | 45.17% | |
| Avg drawdowni | 23.40% | 24.35% | |
| Ulcer Indexi | 26.85% | 28.67% | |
| Max daily dropi | 10.00% | 15.18% | |
| Max wkly dropi | 21.23% | 19.80% | |
| 10Y | Growthi | +608.52% | +633.56% |
| CAGRi | +21.64% | +22.06% | |
| Volatilityi | 36.14% | 36.86% | |
| Sharpe ratioi | 0.60 | 0.60 | |
| Sortino ratioi | 0.87 | 0.88 | |
| Max drawdowni | 49.29% | 49.65% | |
| Current drawdowni | 39.81% | 45.17% | |
| Avg drawdowni | 14.99% | 15.62% | |
| Ulcer Indexi | 20.20% | 21.60% | |
| Max daily dropi | 15.40% | 15.18% | |
| Max wkly dropi | 30.68% | 24.77% |
| Category | BX | KKR |
|---|---|---|
| Company | Blackstone Inc. | KKR & Co. Inc. |
| Sector | Financial Services | Financial Services |
| Industry | Asset Management | Asset Management |
| Core business | World's largest alternative asset manager with over $1 trillion in AUM. Segments include Real Estate, Private Equity, Credit & Insurance, and Hedge Fund Solutions. BREIT (Blackstone Real Estate Income Trust) is the largest non-traded REIT. Strategic Partners and Secondary investments round out the platform. | Global investment firm with over $600B in AUM across Private Equity, Infrastructure, Real Assets, and Credit & Liquid Strategies. Acquired Global Atlantic (insurance) as a major strategic pivot to insurance-linked AUM. Strong Asia-Pacific investment franchise. |
| Investor focus | Fee-related earnings growth, AUM inflow momentum, BREIT net asset value and redemptions, infrastructure deployment, and distribution consistency. | Fee-related earnings growth, Global Atlantic insurance AUM growth, private credit deployment, Asia-Pacific investment performance, and capital markets fee revenue. |
- Largest alternative asset manager globally — scale creates access to the best deals and broadest LP relationships
- BREIT and other retail investor products are democratising private markets access and building a massive recurring fee base
- Real estate and infrastructure expertise positions Blackstone to benefit from AI data center and energy transition demand
- Global Atlantic acquisition transforms KKR into an insurance-linked asset manager with a large, stable capital base
- Strong private credit franchise is well-positioned to benefit from bank lending retreat and direct lending demand
- Asia-Pacific investment platform is among the strongest in private equity and infrastructure globally
- BREIT redemption queues in 2022–2023 raised questions about liquidity management in non-traded vehicles
- Real estate portfolio faces ongoing valuation pressure from elevated interest rates
- Heavy dependence on realisation activity — performance fees can be lumpy and unpredictable
- Global Atlantic insurance integration complexity and ALM (asset-liability management) risk
- Credit quality in private lending books could deteriorate if economic conditions worsen
- Management succession planning — founder-led firm transitioning leadership to the next generation
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