FS KKR Capital Corp. (FSK) — RQD Stock Rating Cockpit

Per the Roarable RQD rating, FSK scores 53 out of 100, grade D+, labeled "Roarable Sell — Weak Fundamentals / Trim." The five pillars are:

• Fundamental Cash Engine: 11 / 20. Per the Roarable RQD rating, this pillar reflects ROIC of 0.2% and an FCF yield of 19.18%. The gap between a near-zero ROIC and a high FCF yield is the central tension: cash generation looks strong relative to market value, but the return earned on invested capital is minimal.
• Whale 13F Flow: 9 / 20. Per the Roarable RQD rating, this pillar measures institutional accumulation and options positioning. It is the second-weakest pillar, indicating limited institutional conviction in the current data.
• Insider Conviction: 12 / 20. Per the Roarable RQD rating, this pillar reflects SEC Form 4 and Congressional PTR cluster flow. It is a moderate score with no source-level detail provided in this dossier.
• Macro Regime Fit: 8 / 20. Per the Roarable RQD rating, this pillar reflects a beta of 1.0 and sector sensitivity. This is the lowest pillar score, suggesting the stock's macro alignment is weak under the rating's framework.
• Forensic Balance Sheet: 13 / 20. Per the Roarable RQD rating, this pillar reflects an Altman Z-Score of 2.5, a Piotroski F-Score of 4/9, and Debt/Equity of 0.5. This is the strongest pillar, though still below the midpoint of its range.

For a prospective investor evaluating the stock today, the rating points to a mixed but leaning-negative picture. The strongest signal is the high FCF yield, which would appeal to a value-oriented reader. The weakest signals are the near-zero ROIC, the lowest macro-fit score, and weak institutional flow. A high cash yield paired with minimal return on capital raises a valuation question that the rating does not resolve on its own: whether reported cash generation is durable and whether it is being reinvested productively. The rating's "Trim" label reflects its view that fundamentals do not currently justify the position size an investor might otherwise hold. This is an analytical framework, not personalized advice.

FS KKR Capital Corp. (FSK) is a NYSE-listed issuer in the Financials sector, Investment Managers industry, per the company profile. The profile identifies the company as an investment manager with a market capitalization of $3.1B. Revenue, customer, and revenue-model details are not available in source data. Per the market data section, the company reports a dividend yield of 0%.

Per the SEC financials, reported net income declined from $696.0M (FY 2023) to $585.0M (FY 2024) and to $11.0M (FY 2025), and FCF declined from $1384.0M to $1901.0M (FY 2024, an increase) and then to $592.0M (FY 2025). Revenue and operating income are reported as $0.0M in each period, and margin metrics are reported as 0% in the market data. Per the Roarable RQD rating, ROIC is 0.2%, the Altman Z-Score is 2.5, the Piotroski F-Score is 4/9, and Debt/Equity is 0.5. Cash and debt balances are not available in source data.

• Special dividend (CATALYST, GREEN): Per the news wire, FS KKR Capital announced a special dividend of $0.20 per share, payable Dec. 15, to shareholders of record Dec. 1. This is the only item flagged GREEN in the wire.
• Options activity (MARKET WIRE, YELLOW): Per the news wire, FSK was reported to see unusually large options volume.
• Earnings call (MARKET WIRE, YELLOW): Per the news wire, a transcript of the Q2 2026 earnings conference call was published. Call content is not included in source data.
• Analyst and value coverage (MARKET WIRE, YELLOW): Multiple news wire items cover institutional positioning and whether the stock is undervalued, without substantive detail in the summaries.
• Market action: Per the market data, the stock moved +4.3% on volume of 2,378,242.
• Butterfly signals: Per the Butterfly Supply-Chain Graph, supply chain is NONE, with no butterfly links and no proprietary signals.

Per the Butterfly Supply-Chain Graph, no upstream or downstream supply-chain dependencies, butterfly links, or proprietary signals are recorded for FSK. Sector correlation data is not available in source data. Second-order bottlenecks cannot be mapped from the provided sources. An investor watching this name should note that the absence of mapped links means this dossier cannot identify ripple effects from related issuers.

• What are the reported revenue, operating income, EPS, cash, and debt figures? The financial table shows $0.0M for revenue and operating income and N/A for EPS, cash, and debt.
• What explains the drop in reported net income from $696.0M (FY 2023) to $11.0M (FY 2025), and is FY 2025 representative?
• Why is ROIC 0.2% despite an FCF yield of 19.18%, and how is invested capital being deployed?
• What do the Q2 2026 earnings call transcript and the reported unusually large options volume indicate about near-term positioning?
• What are the P/E, forward P/E, and EV/EBITDA multiples, which are absent from source data, and how do they compare with peers?