KKR Real Estate Finance Trust Inc. (KREF) Earnings History
Net Loss12 years of earnings data (2014–2025) · Currently unprofitable on a TTM basis
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KKR Real Estate Finance Trust Inc. (KREF) Earnings Overview
As of July 8, 2026, KKR Real Estate Finance Trust Inc. (KREF) reported trailing twelve-month net income of -$104M, reflecting -652.6% year-over-year growth. The company earned $-1.61 per diluted share over the past four quarters, with a net profit margin of -10.3%.
Looking at the long-term picture, KREF's historical earnings data spans multiple years. The company achieved its highest annual net income of $137M in fiscal 2021.
KKR Real Estate Finance Trust Inc. is currently reporting a net loss, though operating performance should be evaluated in the context of growth investments and industry dynamics View revenue history →
Compared to peers including BXMT ($104M net income, 7.2% margin), STWD ($351M net income, 21.9% margin), RC (-$510M net income, -45.8% margin), KREF has room to improve margins relative to the peer group. Compare KREF vs BXMT →
KREF Earnings vs Peers
Earnings metrics vs comparable public companies
KREF Historical Earnings Data (2014–2025)
12 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | -$47M | -232.2% | $272M | $-1.05 | -10.3% | 59.3% |
| 2024 | $36M | +215.4% | $446M | $0.19 | 6.0% | 75.3% |
| 2023 | -$31M | -181.0% | $426M | $-0.78 | -4.7% | 64.6% |
| 2022 | $38M | -72.2% | $269M | $0.23 | 8.7% | 61.6% |
| 2021 | $137M | +152.2% | $246M | $2.21 | 48.0% | 86.1% |
| 2020 | $54M | -39.5% | $182M | $0.96 | 20.2% | 67.3% |
| 2019 | $90M | +0.2% | $245M | $1.57 | 32.6% | 88.8% |
| 2018 | $90M | +51.9% | $172M | $1.63 | 45.3% | 86.7% |
| 2017 | $59M | +89.6% | $60M | $1.30 | 70.2% | 71.7% |
| 2016 | $31M | +85.9% | $33M | $0.60 | 93.9% | 98.4% |
| 2015 | $17M | +902.8% | $18M | $0.32 | 119.8% | 125.5% |
| 2014 | -$2M | - | -$2M | $-6.54 | -298.3% | -314.3% |
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KREF — Frequently Asked Questions
Quick answers to the most common questions about buying KREF stock.
What is KREF earnings per share (EPS)?
KREF trailing twelve-month (TTM) diluted EPS is $-1.61, reflecting -652.6% year-over-year growth. The 5-year EPS CAGR is N/A. Complete EPS history from 2014 to 2025 is available in the table on this page.
What is KKR Real Estate Finance Trust Inc.'s net income?
KKR Real Estate Finance Trust Inc. (KREF) trailing twelve-month net income is $-104M as of 2025. Earnings declined -652.6% year-over-year.
Is KREF profitable?
KREF is not currently profitable on a TTM basis, reporting a net loss of $-104M. Net margin is -10.3%. Investors should monitor for a return to profitability.
What is KREF's earnings growth rate?
KREF compound annual EPS growth rates (CAGR): 1-Year: N/A, 3-Year: N/A, 5-Year: N/A, 10-Year: N/A. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 2014 to 2025.
What are KREF's profit margins?
KKR Real Estate Finance Trust Inc. net profit margin is -10.3%, operating margin is +59.3%, and gross margin is +88.3%. Below-average margins reflect competitive or cost pressures. Return on Equity is -3.6%.
Is KREF growing earnings?
KREF earnings are declining — EPS fell -652.6% year-over-year. TTM net income dropped to $-104M. This contrasts with the 5-year CAGR of N/A.
What was KREF's best earnings year?
KKR Real Estate Finance Trust Inc.'s highest annual net income on record is $137M, achieved in fiscal year 2021. Earnings history on this page spans 2014 to 2025 and includes all annual and quarterly figures.
What were KREF's earnings last quarter?
KREF's most recent reported quarter was Q1 2026. Net income was $-62M with diluted EPS of $-0.96. For a full breakdown of all quarters, see the quarterly earnings table on this page.