KKR Real Estate Finance Trust Inc. (New York Stock Exchange:KREF)
Insiders here have filed 2 Form 4s in the last 90 days, but all of them are share awards, grants or other non-market transactions. Those are compensation, not a decision to buy, so they are not scored.
Loses money on what it sells.
- Revenue
- $414.2M
- Net income
- -$185.0M
- Net margin
- -44.7%
Heavily indebted for what it earns.
- Total debt
- $4.31B
- Cash
- $83.1M
- Net debt / EBITDA
- 38.46x
Owes more within a year than it holds to pay it.
- Current assets
- $83.1M
- Current liabilities
- $1.03B
- Current ratio
- 0.08
The business funds itself from operations.
- Operating cash flow
- $63.0M
- Free cash flow
- $34.3M
- FCF margin
- 8.3%
Not funding itself by issuing shares.
- Shares outstanding
- 62.5M
- Share growth (1y)
- -7.0%
Five pillars — profitability, leverage, liquidity, cash generation, dilution & runway — each scored 0–20 from the company’s own income statement, balance sheet and cash-flow statement, then scaled to 100. A pillar the statements cannot answer is left out rather than guessed; fewer than three and no score is shown.
KREF Income Statement
| Fiscal Period | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|
| Period Ending | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 |
| Revenue | 91.07 M | 101.74 M | 107.51 M | 113.86 M | 118.55 M | 118.04 M |
| Revenue Growth (YoY) | -23.18 % | -13.81 % | -16.25 % | -24.10 % | -23.93 % | -25.47 % |
| Cost of Revenue | 15.77 M | 15.59 M | 14.03 M | 14.38 M | 12.90 M | 12.25 M |
| Gross Profit | 75.30 M | 86.15 M | 93.48 M | 99.48 M | 105.65 M | 105.79 M |
| SG&A Expense | 4.65 M | 4.58 M | 9.33 M | 10.37 M | 0.00 | 10.63 M |
| R&D Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Expenses | 125.87 M | 68.88 M | 46.63 M | 3.91 M | 53.51 M | 28.71 M |
| Operating Income | -50.57 M | 17.28 M | 46.85 M | 95.56 M | 52.15 M | 77.08 M |
| Pretax Income | -117.33 M | -57.16 M | -27.09 M | 12.77 M | -30.57 M | -5.75 M |
| Tax Provision | 0.00 | 0.00 | -156.00 K | 0.00 | 0.00 | 0.00 |
| Net Income | -116.36 M | -56.14 M | -26.24 M | 13.78 M | -29.73 M | -4.86 M |
| EPS (Basic) | -1.95 | -0.96 | -0.49 | 0.12 | -0.53 | -0.15 |
| EPS (Diluted) | -1.95 | -0.96 | -0.49 | 0.12 | -0.53 | -0.15 |
| Shares Outstanding | 62.46 M | 64.67 M | 65.44 M | 65.88 M | 67.19 M | 68.77 M |
Quarterly figures; YoY compares the same fiscal quarter a year earlier. Source: public market data.