InvestMoat

Blackstone vs KKR

Blackstone has the wider moat. So why does KKR win?

KKR edges it, 77 to 73, on growth and valuation.

Blackstone wins on moat, but KKR's lead on growth counts for more.

BX · Financials

Blackstone

…

HoldFull analysis

KKR · Financials

KKR & Co

…

AccumulateFull analysis

BX

KKR

Composite
73
77
(higher)
Moat
68
(higher)
66
Growth
70
79
(higher)
Valuation
78
80
(higher)

BX

KKR

Bear
$95
$80
Base
$140
$130
Bull
$175
$165
Upside to base
—
—

BX

KKR

Revenue CAGR, 3–5 yr
10-14%
14-18%

BX

KKR

Proprietary Data
Intact
Intact
Regulatory Lock-In
Intact
Intact
Network Effects
Intact
Intact
Transaction Embedding
Intact
Intact
System of Record
Intact
Intact
Scale Economics
Intact (higher)
N/A
Brand & Pricing Power
Strong (higher)
Intact

BX

KKR

Learned Interfaces
Intact
Intact
Business Logic
Intact
Intact
Public Data Access
N/A
N/A
Talent Scarcity
Intact
Strong (higher)
Bundling
Intact
Intact

Shaded cells mark the higher score or stronger moat on each row. Valuation and composite use the live price when it is available, the same as each stock page.

Which is the better stock, Blackstone or KKR?

KKR edges it, 77 to 73, on growth and valuation. Blackstone wins on moat, but KKR's lead on growth counts for more. Our rating: Blackstone Hold, KKR Accumulate.

Does Blackstone or KKR have the wider moat?

Blackstone scores 68 on moat to KKR's 66. Blackstone is rated stronger on brand & pricing power. KKR is rated stronger on talent scarcity.

Which is growing faster, Blackstone or KKR?

KKR scores 79 on growth to Blackstone's 70. We expect Blackstone to grow 10–14% a year, KKR 14–18%.

Is Blackstone or KKR cheaper right now?

KKR scores 80 on valuation to Blackstone's 78. In our base case, KKR has more upside: +29% vs +20%.

Scores in the answers use the price each valuation was last struck at; the table above updates with the live price. Not investment advice.