Kennedy-Wilson Holdings, Inc. (KW) intrinsic value & 10-year financials
Kennedy-Wilson Holdings, Inc. (KW) has a Graham intrinsic value of $0.61 per share. Over the last 10 fiscal years revenue shrank 3.5% a year to $501.0M, with an average return on invested capital of 7.0%.
- Graham intrinsic value
- $0.61
- Revenue (FY2025)
- $501.0M
- Revenue growth (10-yr CAGR)
- -3.5%
- ROIC (10-yr avg)
- 7.0%
- Free cash flow (FY2025)
- —
KW 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $501.0M | $23.8M | -$0.28 | — | — | 1.5% |
| FY2024 | $531.4M | -$33.7M | -$0.56 | — | — | -2.0% |
| FY2023 | $562.6M | -$281.4M | -$2.46 | — | — | -15.1% |
| FY2022 | $540.0M | $101.9M | $0.47 | — | — | 5.4% |
| FY2021 | $453.6M | $336.4M | $2.24 | — | — | 19.7% |
| FY2020 | $450.9M | $107.8M | $0.66 | — | — | 6.5% |
| FY2019 | $569.7M | $321.1M | $1.58 | — | — | 22.0% |
| FY2018 | $773.5M | $212.1M | $1.04 | — | — | 16.2% |
| FY2017 | $801.8M | $100.5M | $0.83 | — | 13.6% | 9.0% |
| FY2016 | $690.4M | $5.6M | $0.01 | — | 20.0% | 6.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Kennedy-Wilson Holdings, Inc. is facing top-line stagnation, with revenue contracting over the decade.
Kennedy-Wilson Holdings, Inc. has historically struggled to out-earn its cost of capital, averaging just 7.0% ROIC.
Kennedy-Wilson Holdings, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Kennedy-Wilson Holdings, Inc. is modeled at -3.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $0.61 per share.