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Financials · KREF

KKR Real Estate Finance Trust Inc. (KREF) financials

For the twelve months ended Sep 30, 2026, KKR Real Estate Finance Trust Inc. reported $19.11M of revenue and -$199.66M of net income.

Revenue, TTM
$19.11M
Revenue growth, YoY
+62.9%
Net income, TTM
-$199.66M
Net margin
-1044.9%
EPS, diluted, TTM
-$3.51
Cash
$165.88M
P/S
17.08
Market cap
$326.4M
Annual revenue$13.64M
FY2022FY2025
Annual net income-$47.05M
FY2016FY2025

KREF revenue and earnings growth

KREF revenueQ3 2026$6.91M

Quarter YoY
+59.2%
QoQ
+83.2%
FY YoY
-1.8%

KREF revenue was $6.91M in fiscal Q3 2026 (ended Sep 30, 2026), up 59.2% from a year earlier and up 83.2% from the prior quarter. For the full fiscal 2025 it was $13.64M, down 1.8% from fiscal 2024. It rose in 1 of the last 3 fiscal years.

KREF net incomeQ3 2026-$919.0K

KREF net income was -$919.0K in fiscal Q3 2026 (ended Sep 30, 2026), compared with $13.78M a year earlier. For the full fiscal 2025 it was -$47.05M, compared with $35.59M in fiscal 2024.

KREF EPSQ3 2026-$0.11

KREF diluted EPS was -$0.11 in fiscal Q3 2026 (ended Sep 30, 2026), compared with $0.12 a year earlier. For the full fiscal 2025 it was -$1.05, compared with $0.19 in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$13.64M$13.90M$7.04M$7.59M------
Selling, general and admin$18.06M$18.41M$18.79M$17.62M$14.23M$14.24M$10.52M$7.81M$4.94M$2.27M
Interest expense--$458.80M$236.09M$114.44M$127.31M$158.86M$85.02M$21.22M$7.43M
Pre-tax income-$50.65M$34.58M-$30.95M$37.65M$137.87M$54.81M$90.54M$89.74M$61.18M$32.63M
Income tax-$156.0K$248.0K$710.0K$58.0K$684.0K$412.0K$579.0K-$70.0K$1.10M$354.0K
Net income-$47.05M$35.59M-$30.85M$38.10M$137.18M$54.40M$90.49M$89.74M$59.06M$31.16M
EPS, basic-$1.05$0.19-$0.78$0.23$2.22$0.96$1.58$1.58$1.30$1.61
EPS, diluted-$1.05$0.19-$0.78$0.23$2.21$0.96$1.57$1.58$1.30$1.61
Diluted shares66.8M69.4M69.2M67.6M56.8M56.1M57.5M55.2M45.3M19.3M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$84.62M$106.55M$135.90M$250.62M$273.77M$110.83M$67.62M$86.53M$103.52M$96.35M
Total assets$6.46B$6.35B$7.55B$7.80B$6.70B$4.97B$5.06B$5.23B$7.39B$6.27B
Total debt--------$6.22B$5.75B
Total liabilities$5.24B$4.95B$6.14B$6.23B$5.34B$3.92B$3.93B$4.10B$6.33B$5.76B
Shareholders' equity$1.17B$1.40B$1.40B$1.57B$1.36B$1.04B$1.12B$1.13B$1.06B$505.04M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$72.28M$132.56M$155.72M$141.13M$124.79M$115.06M$91.71M$76.83M$53.80M$25.41M
Investing cash flow$264.29M$1.12B$13.49M-$1.18B-$1.54B$88.71M-$926.31M-$2.00B-$1.08B-$456.45M
Financing cash flow-$355.78M-$1.29B-$271.51M$1.01B$1.58B-$160.56M$815.69M$1.90B$1.04B$500.60M
Dividends paid$66.86M$81.80M$118.85M$115.37M$95.68M$96.45M$98.95M$88.85M$50.58M$21.91M
Share repurchases$43.41M$10.03M$0$35.79M$0$25.06M$4.11M$31.35M$523.0K$0
Stock-based compensation$7.93M$8.26M$8.07M$7.83M$7.43M$5.68M$4.09M$1.97M$65.0K$0
Depreciation and amortization$2.60M$983.0K$0$0------

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY-1.8%97.5%-7.3%-------
Net income growth, YoY----72.2%152.2%-39.9%0.8%51.9%89.6%85.9%
EPS growth, YoY----89.6%130.2%-38.9%-0.6%21.5%--
Net margin-344.9%256.1%-438.3%502.1%------
Return on equity-4.0%2.5%-2.2%2.4%10.1%5.2%8.1%7.9%5.6%6.2%
Return on assets-0.7%0.6%-0.4%0.5%2.0%1.1%1.8%1.7%0.8%0.5%
Debt to equity--------5.8711.39

Source: XBRL data KKR Real Estate Finance Trust Inc. files with the SEC, latest filing dated Oct 28, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

KREF peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
KREF$19.11M+62.9%-$199.66M-1044.9%$326.4M
WELL$13.79B+39.2%$1.67B12.1%$181.46B
PLD$8.95B+6.7%$3.71B41.5%$124.09B
EQIX$10.06B+11.1%$1.65B16.4%$104.38B
AMT$11.01B+5.3%$3.31B30.1%$87.65B
SPG$7.15B+16.2%$4.51B63.0%$75.39B
DLR$6.34B+12.6%$1.38B21.7%$68.13B
PSA$5.03B+5.2%$1.90B37.8%$63.18B
O$6.21B+10.8%$1.36B21.8%$56.58B

KREF FAQ

7 questions
  • What is KREF revenue?
    KKR Real Estate Finance Trust Inc. (KREF) reported $19.11M of revenue for the twelve months ended Sep 30, 2026. That is up 62.9% from the year before. Revenue for fiscal 2025 was $13.64M.
  • Is KREF profitable?
    No. KKR Real Estate Finance Trust Inc. reported a net loss of $199.66M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does KREF have?
    KKR Real Estate Finance Trust Inc. reported $165.88M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is KREF revenue growing?
    KKR Real Estate Finance Trust Inc.'s revenue changed -1.8% in fiscal 2025, to $13.64M.
  • What is KREF earnings per share?
    Diluted earnings per share were -$3.51 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did KREF last report financial results?
    The latest statements here come from KKR Real Estate Finance Trust Inc.'s 10-Q filed on Oct 28, 2026, covering the period ended Sep 30, 2026.
  • Where does this KREF financial data come from?
    Quantisnow builds these statements from the structured XBRL data KKR Real Estate Finance Trust Inc. files with the SEC. It is provided for information only and is not investment advice.