Detailed financial statements for K&F Growth Acquisition Corp. II (KFIIR): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
K&F Growth Acquisition Corp. II operates as a blank check company. The company was founded by Edward King and Dan Fetters on July 2, 2024 and is headquartered in Manhattan Beach, CA.
Analysis Summary
Trailing-twelve-month margins: gross margin 0.0%, operating margin 0.0%, net margin 0.0%.
At the current price of $0.09, KFIIR trades at a P/E of 34.91 and an ROE of -108.26%. Market capitalisation stands at $3M.
Balance sheet quality for KFIIR: current ratio of 8.7. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is below average: free cash flow of -$849099 represents -8% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2025 |
|---|---|
| Revenue | 0 |
| Cost of Revenue | 0 |
| Gross Profit | 0 |
| Research & Development | 0 |
| Selling, General & Admin | $742263 |
| Operating Expenses | $742263 |
| Operating Income | -$742263 |
| EBITDA | -$742263 |
| Interest Expense | 0 |
| Pre-tax Income | $10.2M |
| Income Tax | 0 |
| Net Income | $10.2M |
| EPS | $0.28 |
| EPS (Diluted) | $0.28 |
| Shares Outstanding (Diluted) | $26.7M |
Balance Sheet (10y)
| Year | 2025 |
|---|---|
| Cash & Equivalents | $577446 |
| Short-term Investments | 0 |
| Receivables | 0 |
| Inventory | 0 |
| Total Current Assets | $727191 |
| Property, Plant & Equipment | 0 |
| Goodwill | 0 |
| Intangible Assets | 0 |
| Total Assets | $300.6M |
| Accounts Payable | 0 |
| Short-term Debt | 0 |
| Total Current Liabilities | $83264 |
| Long-term Debt | 0 |
| Total Liabilities | $10.1M |
| Retained Earnings | -$9.4M |
| Total Equity | -$9.4M |
| Total Debt | 0 |
| Net Debt | -$577446 |
| Working Capital | $643927 |
Cash Flow (10y)
| Year | 2025 |
|---|---|
| Net Income | $10.2M |
| Depreciation & Amortization | 0 |
| Stock-based Compensation | 0 |
| Change in Working Capital | 0 |
| Operating Cash Flow | -$849099 |
| Capital Expenditure | 0 |
| Acquisitions | 0 |
| Stock Repurchased | 0 |
| Dividends Paid | 0 |
| Free Cash Flow | -$849099 |
Growth & Margins (10y)
| Year | 2025 |
|---|---|
| Effective Tax Rate | 0.0% |
Per-Share Data (10y)
| Year | 2025 |
|---|---|
| FCF Per Share | $-0.03 |
| Dividends Per Share | $0.00 |
| Shares Outstanding (Basic) | $26.7M |
What to look at in Financial Services
Asset managers, brokers, fintech, exchanges. They are not banks — look at AUM, fees and FCF quality.
- 5y revenue growth — Without growth, there is no long-term value creation
- Operating margin — Good asset managers have >30% margins thanks to scalability
- ROE — Quality financial services have a consistent ROE >15%
- FCF / Net Income — Earnings quality — >90% expected in capital-light businesses
- Debt / Equity — Fintech and brokers with high D/E are time bombs in crises
- P/E vs own 5y — Asset managers have stable multiples in well-known ranges
- Dividend yield + buybacks — These businesses return a lot of capital — look at total yield (div + buybacks)
Profitability
| Return on Equity | -108.26% |
| Return on Invested Capital | -0.25% |
| Return on Assets | 3.39% |
| Gross Margin | 0.00% |
| Operating Margin | 0.00% |
| Net Margin | 0.00% |
Financial Health
| Debt / Equity | 0.00 |
| Current Ratio | 36.73 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 0.16 |
Key Ratios (10y)
| Year | 2025 |
|---|---|
| P/E | 0.46 |
| P/B | -0.37 |
| P/S | 0.00 |
| Gross Margin | 0.0% |
| Operating Margin | 0.0% |
| Net Margin | 0.0% |
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