Blackstone Inc (BX) is overvalued and KKR & Co Inc (KKR) is slightly undervalued.
Against our estimates of intrinsic value, KKR trades at the wider discount: a margin of safety of +10%, against -41% for BX.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 11.5% (average of 3 methods) values the shares at $87.98; the price of $124.01 is 41% above that value, and 68% of that value comes from beyond year five.
Leak Score 57/100 on 8 of 12 signals
Discounting its cash flows at 10.2% values the shares at $109.07; the price of $98.44 is 10% below that value, and 74% of that value comes from beyond year five.
Leak Score 43/100 on 9 of 12 signals
| Metric | BX | KKR |
|---|---|---|
| Verdict | Overvalued | Slightly undervalued |
| Price | $124.01 | $98.44 |
| Intrinsic value | $87.98 | $109.07 |
| Margin of safety | -41% | +10% |
| Leak Score | 57/100 (8/12) | 43/100 (9/12) |
| Market cap | $154.0B | $88.4B |
| Revenue growth, 5 years | 16.1% | 35.4% |
| Operating margin | 53.9% | 23.5% |
| Net margin | 22.1% | 12.7% |
| Return on equity | 40.5% | 10.6% |
| Debt to equity | 1.56 | 1.78 |
| P/E | 27.8x | 31.4x |
| Forward P/E | 16.6x | 13.3x |
| P/B | 17.1x | 3.1x |
| Dividend yield | 4.2% | 0.8% |