FS KKR Capital (FSK) Incentive Fees (2009 - 2026)
FS KKR Capital (FSK) recorded Incentive Fees of $23 million in Q3 2026, down 30.3% from $33 million a year earlier and unchanged from the prior quarter.
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Analysis
FS KKR Capital (FSK) Incentive Fees (2009 - 2026) Analysis & Trends
On a TTM basis, FS KKR Capital's Incentive Fees came in at $99 million as of Sep 30, 2026, down 30.8% year-over-year; for FY2025, it came in at $136 million, down 18.6% from FY2024.
- Annual Incentive Fees has a four-year compound annual growth rate of 15.3% (FY2021 to FY2025).
- Across earlier years, Incentive Fees came in at $167 million in FY2024 (-7.7%), $181 million in FY2023 (+13.8%), $159 million in FY2022 (+106.5%) and $77 million in FY2021.
- Quarterly Incentive Fees has ranged from $23 million in Q2 2026 to $47 million in Q3 2023 over the past five years.
- On a year-over-year basis, Incentive Fees has declined for 12 consecutive quarters, with an average decline of 23.9% over the last eight quarters.
- Peak year-over-year performance for Incentive Fees in the last five years was growth of 362.5% in Q2 2022, against a decline of 36.1% in Q2 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at $23 million (Q2 2026), $25 million (Q1 2026) and $28 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Incentive Fees (Qtr) |
|---|---|---|---|---|---|
| 1 | Royalty Pharma | 39.80 Bn | 40.13 Bn | - | - |
| 2 | Rocket Companies | 38.90 Bn | 27.72 Bn | - | - |
| 3 | Orix | 38.66 Bn | 9.30 Bn | 13.83 Bn | - |
| 4 | Federal National Mortgage Association Fannie Mae | 26.46 Bn | -16,107.65 Bn | - | - |
| 5 | Synchrony Financial | 22.47 Bn | -45.15 Bn | - | - |
| 6 | Affirm Holdings | 22.07 Bn | 15.11 Bn | - | - |
| 7 | Royal Gold | 21.71 Bn | 20.92 Bn | 402.46 Mn | - |
| 8 | Ares Capital | 13.84 Bn | 11.59 Bn | - | 82.00 Mn |
| 9 | Annaly Capital Management | 13.83 Bn | 4.86 Bn | - | - |
| 10 | FS KKR Capital | 3.20 Bn | 2.69 Bn | - | 23.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 23.00 Mn |
| Jun 30, 2026 | 23.00 Mn |
| Mar 31, 2026 | 25.00 Mn |
| Dec 31, 2025 | 28.00 Mn |
| Sep 30, 2025 | 33.00 Mn |
| Jun 30, 2025 | 36.00 Mn |
| Mar 31, 2025 | 39.00 Mn |
| Dec 31, 2024 | 35.00 Mn |
| Sep 30, 2024 | 44.00 Mn |
| Jun 30, 2024 | 45.00 Mn |
| Mar 31, 2024 | 43.00 Mn |
| Dec 31, 2023 | 41.00 Mn |
| Sep 30, 2023 | 47.00 Mn |
| Jun 30, 2023 | 47.00 Mn |
| Mar 31, 2023 | 46.00 Mn |
| Dec 31, 2022 | 42.00 Mn |
| Sep 30, 2022 | 40.00 Mn |
| Jun 30, 2022 | 37.00 Mn |
| Mar 31, 2022 | 40.00 Mn |
| Dec 31, 2021 | 34.00 Mn |
API Access
FS KKR Capital Incentive Fees API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=incentive-fees&ticker=FSK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "incentive-fees", "ticker": "FSK", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=incentive-fees&ticker=FSK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();