FS KKR Capital (FSK) Operating Margin (2021 - 2025)
FS KKR Capital's (FSK) quarterly Operating Margin came in at 43.97% in Q4 2025, down 370.0% year-over-year from 16.28% in Q4 2024, and up 0.61% quarter-over-quarter from 43.7% in Q3 2025.
Analysis
FS KKR Capital (FSK) Operating Margin (2021 - 2025) Analysis & Trends
FS KKR Capital (FSK) has reported Operating Margin for 5 consecutive years, with 43.97% the latest figure, recorded in Q4 2025.
- On a quarterly basis, Operating Margin fell 370.0% year-over-year to 43.97% in Q4 2025; TTM through Dec 2025 was 47.73%, a 253.0% decrease from a year earlier, with the FY2025 full-year figure at 44.5%, down 407.0% from the prior year.
- Operating Margin was 43.97% for Q4 2025 at FS KKR Capital, up from 43.7% in the prior quarter.
- Over five years, Operating Margin peaked at 55.83% in Q3 2021 and troughed at 43.7% in Q3 2025.
- A 5-year average of 50.23% and a median of 49.99% in 2023 frame the typical range for Operating Margin.
- Across the five-year window, Operating Margin slumped 88 bps in 2022 and tumbled 505 bps in 2025, its largest moves.
- Over 5 years, Operating Margin stood at 55.22% in 2021, then declined by 2 bps to 54.34% in 2022, then retreated by 9 bps to 49.66% in 2023, then retreated by 4 bps to 47.67% in 2024, then declined by 8 bps to 43.97% in 2025.
- The last three Operating Margin figures came in at 43.97% (Q4 2025), 43.7% (Q3 2025), and 47.67% (Q4 2024), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ares Capital | 14.12 Bn | 13.73 Bn | - | 47.79% |
| 2 | Blackstone Secured Lending Fund | 5.69 Bn | 5.42 Bn | - | 55.61% |
| 3 | Blue Owl Capital | 5.52 Bn | 5.28 Bn | - | 44.07% |
| 4 | Main Street Capital | 5.26 Bn | 5.20 Bn | - | 62.71% |
| 5 | Blue Owl Technology Finance | 5.05 Bn | 4.84 Bn | - | 41.14% |
| 6 | Hercules Capital | 4.64 Bn | 4.59 Bn | - | 62.31% |
| 7 | FS KKR Capital | 3.37 Bn | 3.27 Bn | - | - |
| 8 | Golub Capital Bdc | 3.34 Bn | 3.30 Bn | - | 45.39% |
| 9 | PennantPark Floating Rate Capital | 2.48 Bn | -129.09 Mn | - | 8.79% |
| 10 | MidCap Financial Investment | 2.07 Bn | 2.03 Bn | - | 48.03% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 43.97% |
| Sep 30, 2025 | 43.70% |
| Dec 31, 2024 | 47.67% |
| Sep 30, 2024 | 48.75% |
| Dec 31, 2023 | 49.66% |
| Sep 30, 2023 | 50.32% |
| Dec 31, 2022 | 54.34% |
| Sep 30, 2022 | 52.80% |
| Dec 31, 2021 | 55.22% |
| Sep 30, 2021 | 55.83% |