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Kennedy-Wilson Holdings (KW)
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Kennedy-Wilson Holdings Income Statement 2025-2008 | KW
Brief overview of financial results at Kennedy-Wilson Holdings
The conclusions below are based on five years of reported results. Revenue at Kennedy-Wilson Holdings moved from $454 million in 2020 to $501 million in 2025. The cumulative result was +10.4%, corresponding to roughly 2% per year. The revenue trend is close to stagnation.
EBITDA changed from $180 million to $133 million (−25.9%). The operating result developed less favorably than sales. The EBITDA share of revenue changed from 39.6% to 26.5%. Cost pressure reduced operating profitability.
The five-year change in net income was −77.9%: from $108 million to $23.8 million. The business generated less net income by the end of the period.
Market value was $2.5 billion at the start and $872 million at the end. The negative valuation trend points to increased investor caution.
Summary assessment
The financial trajectory is weak and requires a cautious interpretation. Caution is warranted because of pressure on operating profitability, declining net profitability and weak sales momentum. Investors should continue to monitor margins, costs, and earnings quality.
Annual Income Statement Kennedy-Wilson Holdings
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
872 M | 1.34 B | 1.32 B | 2.36 B | 3.04 B | 2.48 B | 3.04 B | 2.8 B | 2.1 B | 2.21 B | 2.09 B | 2.37 B | 1.72 B | 826 M | 551 M | 433 M | 258 M | - |
Shares |
138 M | 138 M | 139 M | 137 M | 139 M | 140 M | 140 M | 143 M | 119 M | 109 M | 103 M | 89.2 M | 71.2 M | 55.3 M | 42.4 M | 39 M | 26.9 M | - |
Historical Prices |
6.32 | 9.72 | 9.51 | 17.2 | 21.9 | 17.8 | 18.1 | 17.8 | 13.5 | 17.6 | 14.8 | 20.4 | 19 | 11.9 | 9.83 | 11.1 | 9.59 | 9.2 |
Net Income |
23.8 M | -33.7 M | -281 M | 102 M | 336 M | 108 M | 227 M | 150 M | 100 M | 5.6 M | 74.7 M | 21.9 M | -6.4 M | 4.25 M | 6.35 M | 3.51 M | -15.3 M | - |
Revenue |
501 M | 531 M | 563 M | 540 M | 454 M | 454 M | 570 M | 774 M | 811 M | 703 M | 604 M | 399 M | 121 M | 64.1 M | 62.6 M | 50.5 M | 86.2 M | - |
Cost of Revenue |
- | - | - | - | - | - | - | - | 177 M | 186 M | 155 M | 114 M | 76.7 M | 55.8 M | 41.1 M | 38.2 M | 24.8 M | - |
Gross Profit |
- | - | - | - | - | - | 356 M | 439 M | 479 M | 450 M | 403 M | 262 M | 94.4 M | 57.3 M | 62.2 M | 12.4 M | 61.4 M | - |
Operating Income |
- | - | - | - | - | - | - | - | 109 M | 138 M | 128 M | 49.7 M | 15.4 M | 3.34 M | 17 M | 3 M | -618 K | - |
Interest Expense |
-13 M | 4.2 M | -5 M | 36.1 M | 192 M | 202 M | 214 M | 238 M | 218 M | 192 M | 157 M | 5.1 M | 39.9 M | 26.1 M | 19 M | 7.63 M | 13.2 M | - |
EBITDA |
133 M | 148 M | 158 M | 173 M | 166 M | 180 M | 158 M | 213 M | 252 M | 210 M | 197 M | 100 M | -10.5 M | -22.5 M | -621 K | 3.3 M | 504 K | - |
Operating Expenses |
- | - | - | - | - | - | 386 M | 432 M | 439 M | 438 M | 372 M | 266 M | 122 M | 84.8 M | 65.7 M | 68.3 M | 62.1 M | - |
General and Administrative Expenses |
36.4 M | 38.8 M | 35.7 M | 37.2 M | 33.3 M | 34.6 M | 194 M | 220 M | 219 M | 232 M | 199 M | 156 M | 101 M | 75.3 M | 58.9 M | 11.3 M | 6.35 M | - |
Annual performance
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All numbers in USD currency
Quarterly Income Statement Kennedy-Wilson Holdings
| 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
139 M | -7.37 K | 138 M | 138 M | 138 M | 137 M | 137 M | 138 M | 138 M | 139 M | 139 M | 139 M | 138 M | 138 M | 137 M | 137 M | 137 M | 138 M | 139 M | 139 M | 139 M | 141 M | 140 M | 140 M | 140 M | 142 M | 140 M | 140 M | 140 M | 143 M | 141 M | 141 M | 141 M | 152 M | 112 M | 112 M | 112 M | 128 M | 109 M | 109 M | 109 M | 115 M | 107 M | 104 M | 91.5 M | 96.1 M | 89.3 M | 89.1 M | 88.1 M | -134 M | 72.6 M | 71 M | 61.9 M | -105 M | 58 M | 51.4 M | 51.2 M | 51.8 M | 44 M | 39.1 M | 40 M |
Net Income |
13.7 M | 29.6 M | -21.2 M | -6.4 M | -40.8 M | - | -66.8 M | -48.3 M | 37.7 M | - | -64.1 M | 47.3 M | -28.7 M | - | 23.6 M | -9 M | 40 M | - | 72.5 M | 215 M | -1.6 M | 172 M | -19.7 M | -39.1 M | -5.9 M | 159 M | 19.4 M | 141 M | 1.6 M | 32.9 M | 12.9 M | 167 M | 110 M | 105 M | -8.9 M | 9.4 M | 800 K | 14.4 M | -2.5 M | -1.6 M | -7.5 M | 28.3 M | 14.9 M | 31.2 M | -3.5 M | -20.5 M | -2.2 M | 36.3 M | 10.4 M | -4.3 M | -4 M | -2.5 M | -3.7 M | 8.8 M | -6.2 M | -3.2 M | -3.3 M | 9.65 M | -6.87 M | -2.46 M | 1.04 M |
Revenue |
117 M | 121 M | 116 M | 136 M | 128 M | - | 128 M | 132 M | 136 M | - | 144 M | 146 M | 132 M | - | 140 M | 136 M | 125 M | 389 M | 114 M | 9.1 M | 99.4 M | 106 M | 116 M | 107 M | 123 M | 142 M | 143 M | 144 M | 141 M | 179 M | 186 M | 218 M | 3.4 M | 181 M | 7.5 M | 300 K | 9.7 M | -4.6 M | 5.4 M | 6.5 M | 11 M | 53.3 M | 8 M | 9.2 M | 9.5 M | 8.3 M | 6.2 M | 33.3 M | 7.3 M | 8.17 M | 15.7 M | 13.8 M | 8.35 M | 10.5 M | 8.26 M | 7.16 M | 6.54 M | 5.35 M | 4.92 M | 3.25 M | 5.26 M |
Cost of Revenue |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 39.6 M | - | 35.4 M | 45.5 M | 32.7 M | 58.1 M | 42.2 M | 40.5 M | 45.7 M | - | 35.2 M | 44 M | 26.2 M | - | 26.8 M | 32.2 M | 20.5 M | 23.9 M | 20.9 M | 18.3 M | 18.3 M | 25.1 M | 11.4 M | 10.3 M | 9 M | - | 8.47 M | 8.26 M | 7.83 M |
Gross Profit |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -36.2 M | - | -27.9 M | -45.2 M | -23 M | -62.7 M | -36.8 M | -34 M | -34.7 M | - | -27.2 M | -34.8 M | -16.7 M | - | -20.6 M | 1.1 M | -13.2 M | -15.7 M | -5.23 M | -4.5 M | -9.95 M | -14.6 M | -3.1 M | -3.13 M | -2.46 M | - | -3.55 M | -5.01 M | - |
Operating Income |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 32.6 M | 16.7 M | 16.7 M | -4.3 M | 58.9 M | 12.9 M | 41.2 M | 53.4 M | 39.9 M | 16.3 M | 28.5 M | 54.7 M | 30.6 M | 15.6 M | 27.5 M | 10.3 M | 11.6 M | 34.4 M | -6.6 M | -2.6 M | 9.5 M | 11.2 M | -2.7 M | -2.7 M | -100 K | 3.7 M | 2.4 M | 15.2 M | -2.39 M | 164 K | 4 M |
Interest Expense |
1 M | 400 K | -2.6 M | -5.6 M | -5.2 M | - | -13.1 M | 300 K | 6.8 M | - | 700 K | 24.3 M | 62.3 M | - | 57.1 M | 3.6 M | 50.5 M | - | 45.3 M | -700 K | 51.6 M | - | 50.8 M | 50.4 M | 48.8 M | - | 51.8 M | 55.7 M | 55.3 M | - | 55.2 M | 67.2 M | 11.1 M | - | -300 K | 4.4 M | 500 K | -1 M | 1.9 M | 5 M | 700 K | - | -4.3 M | 2.8 M | 800 K | - | - | - | - | 28.5 M | 13.1 M | 12.5 M | 11.4 M | 19.9 M | -6 K | 38 K | 6.17 M | - | 6.12 M | 6.23 M | 1.53 M |
EBITDA |
32.2 M | 31.8 M | 32.6 M | 34.5 M | 34.1 M | - | - | - | - | - | - | - | - | - | 46.1 M | 43.3 M | 43.3 M | - | 39.2 M | 41.7 M | 44.4 M | - | - | - | - | - | - | - | - | - | 32.6 M | 16.7 M | 16.7 M | -4.3 M | 58.9 M | 12.9 M | 41.2 M | 53.4 M | 39.9 M | 16.3 M | 28.5 M | 54.7 M | 30.6 M | 15.6 M | 27.5 M | 10.3 M | 11.6 M | 34.4 M | -6.6 M | -5 M | 11.8 M | 13.4 M | -800 K | -2.8 M | 500 K | 4.2 M | 3 M | 15.2 M | -2.39 M | 164 K | 4 M |
Operating Expenses |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -52.9 M | - | 176 M | 126 M | 106 M | 143 M | 116 M | 120 M | 114 M | - | 99.6 M | 104 M | 84.8 M | - | 79.5 M | 63.3 M | 53.5 M | 38.7 M | 32.8 M | 35.7 M | 24.5 M | 34.8 M | 19.9 M | 17.4 M | 14.5 M | - | 14.6 M | -5.17 M | - |
General and Administrative Expenses |
10.4 M | 9.6 M | 7.6 M | 8.8 M | 10.4 M | - | 10.2 M | 9.5 M | 8.3 M | - | 8.4 M | 8.7 M | 8.4 M | - | 9.2 M | 9.4 M | 7.9 M | - | 8.9 M | 9 M | 6.8 M | - | 8.6 M | 8 M | 9.5 M | - | 8.4 M | 10.9 M | 10.9 M | - | 11.7 M | 13.5 M | 13.5 M | - | 10.8 M | 10 M | 10 M | 12.9 M | 10.5 M | 11.8 M | 10.1 M | - | 10 M | 11.8 M | 9.5 M | - | 11.8 M | 8.4 M | 8.2 M | 7 M | 5.8 M | 6.4 M | 6.4 M | 5.93 M | 5.01 M | 4.89 M | 3.67 M | - | 3.33 M | 3.04 M | 2.81 M |
Quarterly performance
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All numbers in USD currency
The income statement is one of the three key financial reports of a company Kennedy-Wilson Holdings (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.