Kennedy-Wilson Holdings, Inc. (KW) FY2025 10-K Annual Report

Filed: Feb 27, 2026
Real Estate
Real EstateSEC EDGAR

Kennedy-Wilson Holdings, Inc. (KW) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 27, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

Kennedy-Wilson Holdings, Inc. FY2025 10-K Analysis

Business Overview

  • Core business model: Real estate investment and fund management with carried interests from real estate funds and equity method investments
  • Emphasis on carried interests recognized based on cumulative performance per ASC 606 and Topic 323, included in income from unconsolidated investments
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Management Discussion & Analysis

  • Net loss $38.8M in 2025 vs loss $76.5M in 2024; comprehensive loss $16.3M vs $78.0M benefiting from foreign currency gains
  • Euro strengthened 13.4% and GBP 7.5% vs USD in 2025 reversing 2024 currency losses
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Risk Factors

  • Interest rate risk: 7% of debt is floating rate without caps, causing $11.3M expense rise if rates increase 100 bps in 2026
  • Geopolitical exposure: 42% of investment account in foreign currencies, with 96% euro and 83% GBP hedged, $19.5M net asset value decline on 5% currency move
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Kennedy-Wilson Holdings, Inc. FY2025 Key Financial Metrics
XBRL

Revenue

$501M

-5.7% YoY

Net Income

-$39M

+49.3% YoY

Net Margin

-7.7%

+665bp YoY

ROE

-2.5%

+225bp YoY

Total Assets

$6.6B

-4.9% YoY

EPS (Diluted)

$-0.28

+50.0% YoY

Operating Cash Flow

$11M

-79.3% YoY

Source: XBRL data from Kennedy-Wilson Holdings, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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