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FS KKR Capital

DB:FS5
Snowflake Description

Very undervalued with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FS5
DB
$1B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

FS KKR Capital Corp. is a business development company specializing in investments in debt securities. The last earnings update was 34 days ago. More info.


Add to Portfolio Compare Print
  • FS KKR Capital is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • FS KKR Capital has significant price volatility in the past 3 months.
FS5 Share Price and Events
7 Day Returns
9.7%
DB:FS5
3%
DE Capital Markets
2.2%
DE Market
1 Year Returns
-49.9%
DB:FS5
-6.9%
DE Capital Markets
-17.2%
DE Market
FS5 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
FS KKR Capital (FS5) 9.7% -42.9% -50.1% -49.9% -70% -
DE Capital Markets 3% -17.7% -13.1% -6.9% -24.7% -54.9%
DE Market 2.2% -15.7% -24% -17.2% -23.3% -27.8%
1 Year Return vs Industry and Market
  • FS5 underperformed the Capital Markets industry which returned -6.9% over the past year.
  • FS5 underperformed the Market in Germany which returned -17.2% over the past year.
Price Volatility
FS5
Industry
5yr Volatility vs Market
Related Companies

FS5 Value

 Is FS KKR Capital undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of FS KKR Capital to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for FS KKR Capital.

DB:FS5 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity
= $7.17 * 9.9%
$0.71
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. $7.17
Discount Rate (Cost of Equity) See below 10.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:FS5
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.753 (1 + (1- 21%) (293.96%))
2.006
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 5.44%)
10.49%

Discounted Cash Flow Calculation for DB:FS5 using Excess Returns Model Model

The calculations below outline how an intrinsic value for FS KKR Capital is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:FS5 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.9% – 10.49%) * $7.17)
$-0.04
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.04 / (10.49% - -0.39%)
$-0.39
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $7.17 + $-0.39
$6.78
DB:FS5 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:FS5 represents 0.96454x of NYSE:FSK
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.96454x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 6.78 x 0.96454
€6.54
Value per share (EUR) From above. €6.54
Current discount Discount to share price of €2.72
= -1 x (€2.72 - €6.54) / €6.54
58.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price FS KKR Capital is available for.
Intrinsic value
>50%
Share price is €2.72 vs Future cash flow value of €6.54
Current Discount Checks
For FS KKR Capital to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • FS KKR Capital's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • FS KKR Capital's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for FS KKR Capital's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are FS KKR Capital's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:FS5 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $0.47
NYSE:FSK Share Price ** NYSE (2020-04-01) in USD $2.82
Germany Capital Markets Industry PE Ratio Median Figure of 16 Publicly-Listed Capital Markets Companies 22.55x
Germany Market PE Ratio Median Figure of 398 Publicly-Listed Companies 16.76x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of FS KKR Capital.

DB:FS5 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:FSK Share Price ÷ EPS (both in USD)

= 2.82 ÷ 0.47

5.95x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • FS KKR Capital is good value based on earnings compared to the DE Capital Markets industry average.
  • FS KKR Capital is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does FS KKR Capital's expected growth come at a high price?
Raw Data
DB:FS5 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.95x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
20.4%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 6 Publicly-Listed Capital Markets Companies 1.59x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

DB:FS5 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.95x ÷ 20.4%

0.29x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • FS KKR Capital is good value based on expected growth next year.
Price based on value of assets
What value do investors place on FS KKR Capital's assets?
Raw Data
DB:FS5 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $7.64
NYSE:FSK Share Price * NYSE (2020-04-01) in USD $2.82
Germany Capital Markets Industry PB Ratio Median Figure of 31 Publicly-Listed Capital Markets Companies 1.5x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.44x
DB:FS5 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:FSK Share Price ÷ Book Value per Share (both in USD)

= 2.82 ÷ 7.64

0.37x

* Primary Listing of FS KKR Capital.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • FS KKR Capital is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess FS KKR Capital's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. FS KKR Capital has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FS5 Future Performance

 How is FS KKR Capital expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
20.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is FS KKR Capital expected to grow at an attractive rate?
  • FS KKR Capital's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • FS KKR Capital's earnings growth is expected to exceed the Germany market average.
  • FS KKR Capital's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:FS5 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:FS5 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 20.4%
DB:FS5 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts -1.9%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 39.4%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:FS5 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:FS5 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 753 164 373 6
2020-12-31 742 583 311 7
2020-04-01
DB:FS5 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 779 -256 246
2019-09-30 695 230 872
2019-06-30 591 354 789
2019-03-31 488 231 657
2018-12-31 394 280 569
2018-09-30 403 335 -15
2018-06-30 411 375 82
2018-03-31 414 483 132
2017-12-31 419 66 182
2017-09-30 417 283 219
2017-06-30 414 301 248
2017-03-31 426 111 370

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • FS KKR Capital's earnings are expected to grow significantly at over 20% yearly.
  • FS KKR Capital's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:FS5 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from FS KKR Capital Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:FS5 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.72 0.84 0.61 6.00
2020-12-31 0.63 0.83 -0.43 8.00
2020-04-01
DB:FS5 Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 0.47
2019-09-30 1.89
2019-06-30 2.01
2019-03-31 2.04
2018-12-31 2.26
2018-09-30 -0.06
2018-06-30 0.34
2018-03-31 0.54
2017-12-31 0.74
2017-09-30 0.89
2017-06-30 1.02
2017-03-31 1.52

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • FS KKR Capital is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess FS KKR Capital's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
FS KKR Capital has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FS5 Past Performance

  How has FS KKR Capital performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare FS KKR Capital's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • FS KKR Capital has delivered over 20% year on year earnings growth in the past 5 years.
  • FS KKR Capital's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • FS KKR Capital's 1-year earnings growth is negative, it can't be compared to the DE Capital Markets industry average.
Earnings and Revenue History
FS KKR Capital's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from FS KKR Capital Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:FS5 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 779.00 246.00 192.00
2019-09-30 695.00 872.00 177.00
2019-06-30 591.00 789.00 153.00
2019-03-31 488.00 657.00 125.00
2018-12-31 394.00 569.00 98.00
2018-09-30 402.55 -15.23 108.19
2018-06-30 411.24 82.17 123.35
2018-03-31 413.94 131.61 126.97
2017-12-31 419.00 182.00 131.00
2017-09-30 417.43 219.10 132.88
2017-06-30 414.29 248.07 132.99
2017-03-31 425.81 369.78 135.68
2016-12-31 423.00 294.00 136.00
2016-09-30 428.59 163.96 135.94
2016-06-30 431.71 44.31 123.22
2016-03-31 469.23 -44.14 123.07
2015-12-31 474.80 38.39 128.52
2015-09-30 473.42 106.66 116.26
2015-06-30 485.67 167.54 132.58
2015-03-31 458.66 185.15 140.45
2014-12-31 464.82 194.78 147.56
2014-09-30 468.30 281.78 170.30
2014-06-30 475.69 285.80 175.26
2014-03-31 479.32 263.42 169.74
2013-12-31 474.57 265.84 170.27
2013-09-30 463.32 269.99 170.15
2013-06-30 424.03 332.14 168.93

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • FS KKR Capital has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • FS KKR Capital used its assets more efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • FS KKR Capital has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess FS KKR Capital's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
FS KKR Capital has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FS5 Health

 How is FS KKR Capital's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up FS KKR Capital's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • FS KKR Capital is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • FS KKR Capital's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of FS KKR Capital's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from FS KKR Capital Company Filings, last reported 3 months ago.

DB:FS5 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 3,866.00 4,173.00 106.00
2019-09-30 4,024.00 3,508.00 126.00
2019-06-30 4,098.00 3,441.00 235.00
2019-03-31 4,120.00 3,398.00 92.00
2018-12-31 4,166.00 3,391.00 104.00
2018-09-30 2,066.86 1,550.32 99.97
2018-06-30 2,134.78 1,628.54 200.78
2018-03-31 2,249.96 1,713.37 215.06
2017-12-31 2,285.00 1,712.00 139.00
2017-09-30 2,316.69 1,713.27 178.99
2017-06-30 2,280.70 1,709.79 142.71
2017-03-31 2,311.64 1,829.28 53.68
2016-12-31 2,297.38 1,693.51 264.60
2016-09-30 2,294.46 1,724.48 113.66
2016-06-30 2,234.32 1,697.50 44.17
2016-03-31 2,142.74 1,746.69 71.38
2015-12-31 2,208.93 1,822.90 81.99
2015-09-30 2,335.96 1,820.97 85.94
2015-06-30 2,389.54 1,832.62 286.92
2015-03-31 2,385.71 1,849.01 88.88
2014-12-31 2,366.99 1,863.83 96.84
2014-09-30 2,445.78 1,914.29 179.98
2014-06-30 2,457.57 1,915.69 244.07
2014-03-31 2,685.17 1,688.48 297.69
2013-12-31 2,640.99 1,673.68 227.33
2013-09-30 2,597.69 1,892.50 290.44
2013-06-30 2,571.55 1,798.34 380.25
  • FS KKR Capital's level of debt (107.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (78.7% vs 107.9% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 3.5x coverage).
X
Financial health checks
We assess FS KKR Capital's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. FS KKR Capital has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FS5 Dividends

 What is FS KKR Capital's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
26.95%
Current annual income from FS KKR Capital dividends. Estimated to be 25.45% next year.
If you bought €2,000 of FS KKR Capital shares you are expected to receive €539 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • FS KKR Capital's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.65%).
  • FS KKR Capital's dividend is above the markets top 25% of dividend payers in Germany (4.87%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:FS5 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 322 Stocks 3.8%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:FS5 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.68 4.00
2020-12-31 0.75 5.00
2020-04-01
DB:FS5 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-27 0.760 21.190
2019-11-07 0.760 12.314
2019-08-07 0.760 13.160
2019-02-27 0.760 12.421
2018-08-09 0.760 11.781
2018-03-01 0.760 9.971
2017-11-09 0.760 9.894
2017-08-09 0.891 10.826
2017-05-10 0.891 9.764
2017-03-01 0.891 9.144
2016-11-09 0.891 8.670
2016-08-09 0.891 9.368
2016-02-29 0.891 9.814
2015-11-09 0.891 10.157
2015-05-11 0.891 8.852
2015-01-13 0.891 8.995
2014-12-05 0.891 8.884
2014-11-07 0.891 8.559

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • FS KKR Capital has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • FS KKR Capital has only been paying a dividend for 5 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of FS KKR Capital's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess FS KKR Capital's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can FS KKR Capital afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. FS KKR Capital has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FS5 Management

 What is the CEO of FS KKR Capital's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Michael Forman
COMPENSATION $0
AGE 58
TENURE AS CEO 2.3 years
CEO Bio

Mr. Michael Craig Forman serves as the Chief Executive Officer and Chairman of FS KKR Capital Corp. (formerly known as fsic corporation). Mr. Forman has been leading Franklin Square Holdings, L.P. since co-founding it in 2007. Mr. Forman had been the Chief Executive Officer, Corporate Capital Trust, Inc., at KKR Credit Advisors (US) LLC since April 2018. He has served as the Chairman, President and Chief Executive Officer at FB Advisor since its inception. He has been a Member of Advisory Board of Innovatus Capital Partners, LLC since joining on JUly 25, 2018. Mr. Forman also serves as Chief Executive Officer at FS Global Advisor LLC. He has been the Chairman, President and Chief Executive Officer at FSIC III Advisor since its inception in October 2013. Mr. Forman also currently serves as Chairman, President and Chief Executive Officer of FB Income Advisor, LLC and FS Investment Advisor, LLC and has presided in such roles since each entity's inception in October 2007 and September 2010 respectively. He serves as the Founder, Managing General Partner and Chairman of FB Capital Partners, L.P. In May 2007, Mr. Forman co-founded Franklin Square Holdings. Prior to co-founding Franklin Square, he founded a private equity and real estate investment firm. Prior to co-founding FB Capital Partners, L.P., Mr. Forman spent nearly 20 years as an Attorney and Senior Partner in the Corporate and Securities Department at Klehr, Harrison, Harvey, Branzburg & Ellers LLP. He was a Partner from 1991 until leaving the firm to focus exclusively on investments. Mr. Forman had earlier served in a number of leadership positions at the firm, including as Hiring Partner. He was employed at the firm for over 17 years. He has built a number of other successful businesses in the private equity and debt, financial services and investment management industries. In addition to his career as an attorney and investor, Mr. Forman has been an active entrepreneur and has founded several companies, including companies engaged in the gaming, specialty finance and asset management industries. Mr. Forman started his career as corporate and securities lawyer. He is the Chairman of FS OneEquity Partners Co. L.P. since September 2015. Mr. Forman is a Director of Murex Investments. He is the Chairman of The Vetri Foundation for Children. He is a member of a number of civic and charitable boards, including The Franklin Institute, Drexel University and the Philadelphia Center City District Foundation. Mr. Forman serves as Co-Chair of the Capital Campaign for The Philadelphia School. He also serves on the Board of Advisors of Temple University's Fox School of Business. Mr. Forman is a Corporate Leadership Board Member of The Barnes Foundation and a Corporate Council Member of the Children's Hospital of Philadelphia. He is a member of the Board of the Center City District Foundation. Mr. Forman previously served as a Director of Cosentino Signature Wines PLC since February 09, 2007. He also served The University of the Arts as a Trustee. Mr. Forman was named 'Ernst & Young Entrepreneur of the Year' for the Greater Philadelphia region in 2013. He has extensive experience in corporate and securities law. Mr. Forman earned a JD from Rutgers School of Law-Newark. He received a BA degree from the University Of Rhode Island, where he graduated summa cum laude and was elected Phi Beta Kappa.

CEO Compensation
  • Insufficient data for Michael to compare compensation growth.
  • Insufficient data for Michael to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the FS KKR Capital management team in years:

2.3
Average Tenure
50
Average Age
  • The tenure for the FS KKR Capital management team is about average.
Management Team

Michael Forman

TITLE
Chairman & CEO
AGE
58
TENURE
2.3 yrs

Brian Gerson

TITLE
President & Head of Private Credit at FS Investments
AGE
51
TENURE
2.3 yrs

Dan Pietrzak

TITLE
Chief Investment Officer
AGE
43
TENURE
2 yrs

Marc Yaklofsky

TITLE
Senior Vice President

Stephen Sypherd

TITLE
General Counsel & Secretary
AGE
42
TENURE
2.3 yrs

Jim Volk

TITLE
Chief Compliance Officer
AGE
56
TENURE
5 yrs

Mike Kelly

TITLE
President & Chief Investment Officer of FS Investments
AGE
49
TENURE
2.8 yrs

Robert Paun

TITLE
Director of Investor Relations
Board of Directors Tenure

Average tenure and age of the FS KKR Capital board of directors in years:

1.3
Average Tenure
57.5
Average Age
  • The average tenure for the FS KKR Capital board of directors is less than 3 years, this suggests a new board.
Board of Directors

Michael Forman

TITLE
Chairman & CEO
AGE
58
TENURE
2.3 yrs

Jeffrey Harrow

TITLE
Director
COMPENSATION
$156K
AGE
62
TENURE
10.3 yrs

Brian Ford

TITLE
Director
AGE
70
TENURE
1.3 yrs

Mike Hagan

TITLE
Lead Independent Director
COMPENSATION
$166K
AGE
57
TENURE
6.7 yrs

Todd Builione

TITLE
Director
AGE
44
TENURE
0.5 yrs

Barbara Adams

TITLE
Director
AGE
67
TENURE
1.3 yrs

Richard Goldstein

TITLE
Director
AGE
57
TENURE
1.3 yrs

Jerel Hopkins

TITLE
Director
AGE
46
TENURE
1.3 yrs

Jim Kropp

TITLE
Director
AGE
70
TENURE
1.3 yrs

Osagie Imasogie

TITLE
Independent Director
AGE
57
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by FS KKR Capital individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
17. Mar 20 Buy Daniel Pietrzak Individual 16. Mar 20 16. Mar 20 10,000 €2.94 €29,351
16. Mar 20 Buy Brian Gerson Individual 16. Mar 20 16. Mar 20 10,000 €3.08 €30,826
11. Mar 20 Buy Todd Builione Individual 09. Mar 20 09. Mar 20 25,000 €4.09 €102,133
10. Mar 20 Buy Brian Gerson Individual 09. Mar 20 09. Mar 20 10,000 €3.80 €38,010
10. Mar 20 Buy Daniel Pietrzak Individual 09. Mar 20 09. Mar 20 10,000 €3.67 €36,742
05. Mar 20 Buy Osagie Imasogie Individual 04. Mar 20 04. Mar 20 18,083 €5.02 €90,782
04. Mar 20 Buy Brian Gerson Individual 02. Mar 20 02. Mar 20 10,000 €4.95 €49,514
04. Mar 20 Buy Elizabeth Sandler Individual 04. Mar 20 04. Mar 20 3,560 €5.06 €18,002
04. Mar 20 Buy Daniel Pietrzak Individual 02. Mar 20 02. Mar 20 10,000 €4.94 €49,447
02. Mar 20 Buy Richard Goldstein Individual 02. Mar 20 02. Mar 20 5,000 €4.89 €24,443
25. Nov 19 Buy Barbara Adams Individual 22. Nov 19 22. Nov 19 4,000 €5.52 €22,079
21. Nov 19 Buy Brian Gerson Individual 20. Nov 19 20. Nov 19 10,000 €5.43 €54,312
20. Nov 19 Buy Osagie Imasogie Individual 20. Nov 19 20. Nov 19 16,575 €5.46 €90,472
19. Nov 19 Buy Daniel Pietrzak Individual 15. Nov 19 18. Nov 19 10,000 €5.35 €53,422
19. Nov 19 Buy Brian Ford Individual 19. Nov 19 19. Nov 19 7,000 €5.41 €37,842
12. Nov 19 Buy Richard Goldstein Individual 12. Nov 19 12. Nov 19 5,000 €5.41 €27,058
09. Sep 19 Buy Michael Hagan Individual 09. Sep 19 09. Sep 19 42,100 €5.38 €226,519
15. Aug 19 Buy Daniel Pietrzak Individual 14. Aug 19 14. Aug 19 10,000 €5.07 €50,703
12. Aug 19 Buy Richard Goldstein Individual 12. Aug 19 12. Aug 19 5,000 €5.13 €25,636
10. Jun 19 Buy Brian Ford Individual 07. Jun 19 07. Jun 19 2,500 €5.29 €13,230
07. Jun 19 Buy Daniel Pietrzak Individual 05. Jun 19 05. Jun 19 10,000 €5.28 €52,813
07. Jun 19 Buy Richard Goldstein Individual 07. Jun 19 07. Jun 19 3,300 €5.29 €17,463
06. Jun 19 Buy Stephen Sypherd Individual 05. Jun 19 05. Jun 19 16,807 €5.29 €88,911
05. Jun 19 Buy Richard Goldstein Individual 05. Jun 19 05. Jun 19 5,000 €5.32 €26,620
X
Management checks
We assess FS KKR Capital's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. FS KKR Capital has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FS5 News

Simply Wall St News

FS5 Company Info

Description

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. In connection with the debt investments, the firm also receives equity interests such as warrants or options as additional consideration. It also seek to purchase minority interests in the form of common or preferred equity in our target companies, either in conjunction with one of the debt investments or through a co-investment with a financial sponsor. Additionally, on an opportunistic basis, the fund may also invest in corporate bonds and similar debt securities. The fund does not seek to invest in start-up companies, turnaround situations, or companies with speculative business plans. It seeks to invest in small and middle-market companies based in United States. The fund seeks to invest in firms with annual revenue between $10 million to $2.5 billion. It seeks to exit from securities by selling them in a privately negotiated over- the- counter market. For any investments that are not able to be sold within the secondary market, the firm seeks to exit such investments through repayment, an initial public offering of equity securities, merger, sale or recapitalization.

Details
Name: FS KKR Capital Corp.
FS5
Exchange: DB
Founded: 2007
$1,298,196,795
503,393,629
Website: http://www.fsinvestmentcorp.com
Address: FS KKR Capital Corp.
201 Rouse Boulevard,
Philadelphia,
Pennsylvania, 19112,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE FSK Common Stock New York Stock Exchange US USD 16. Apr 2014
DB FS5 Common Stock Deutsche Boerse AG DE EUR 16. Apr 2014
Number of employees
Current staff
Staff numbers
0
FS KKR Capital employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/01 22:53
End of day share price update: 2020/04/01 00:00
Last estimates confirmation: 2020/03/31
Last earnings filing: 2020/02/27
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.