KKR Real Estate Finance Trust Inc. (KREF) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Revenue | 101.74M | 107.51M | 113.86M | 118.55M | 118.04M | 128.37M | 150.01M | 155.85M | 158.39M | 168.82M | 167.83M | 166.05M | 157.49M | 147.5M | 117.56M | 93.67M | 77.77M | 78.23M | 75.45M | 67.25M |
| Revenue Growth % | -13.81% | -16.25% | -24.1% | -23.93% | -25.47% | -23.96% | -10.62% | -6.14% | 0.57% | 14.46% | 42.76% | 77.27% | 102.49% | 88.55% | 55.81% | 39.29% | 19.96% | 23.61% | 11.3% | -0.25% |
| Property Operating Expenses | 15.59M | 14.03M | 14.38M | 12.9M | 12.25M | 12.63M | 12.37M | 12.71M | 11.89M | 9.48M | 9.45M | 9.83M | 11.09M | 10.8M | 9.19M | 8.87M | 8.56M | 8.75M | 7.18M | 7.24M |
| Net Operating Income (NOI) | 86.15M | 93.48M | 99.48M | 105.65M | 105.79M | 115.74M | 137.64M | 143.14M | 146.5M | 159.34M | 158.38M | 156.22M | 146.4M | 136.7M | 108.37M | 84.8M | 69.21M | 69.48M | 68.27M | 60.01M |
| NOI Margin % | 84.68% | 86.95% | 87.37% | 89.12% | 89.62% | 90.16% | 91.76% | 91.84% | 92.49% | 94.38% | 94.37% | 94.08% | 92.96% | 92.67% | 92.19% | 90.53% | 88.99% | 88.81% | 90.49% | 89.24% |
| Operating Expenses | 68.88M | 46.63M | 3.91M | 53.51M | 28.71M | 7.56M | 41.89M | 9.34M | 38.26M | 54.1M | 13.6M | 61.05M | 65.16M | 25.77M | 84.89M | 16.11M | 3.23M | 306K | 4.82M | 3.13M |
| G&A Expenses | 4.58M | 9.33M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBITDA | -57.16M | 47.74M | 96.29M | 52.64M | 77.57M | 108.67M | 96.24M | 134.41M | 109.09M | 105.62M | 145.62M | 95.73M | 80.89M | 111.75M | 24.4M | 69.73M | 67.87M | 71.04M | 65.61M | 58.14M |
| EBITDA Margin % | -56.18% | 44.41% | 84.57% | 44.4% | 65.71% | 84.66% | 64.16% | 86.25% | 68.87% | 62.56% | 86.76% | 57.65% | 51.36% | 75.76% | 20.75% | 74.44% | 87.27% | 90.8% | 86.96% | 86.45% |
| Depreciation & Amortization | 0 | 893K | 730K | 491K | 490K | 495K | 488K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A / Revenue % | 0% | 0.83% | 0.64% | 0.41% | 0.42% | 0.39% | 0.33% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Operating Income | 17.28M | 46.85M | 95.56M | 52.15M | 77.08M | 108.18M | 95.75M | 133.8M | 108.24M | 105.24M | 144.78M | 95.18M | 81.24M | 110.93M | 23.48M | 68.69M | 65.98M | 69.17M | 63.45M | 56.88M |
| Operating Margin % | 16.98% | 43.58% | 83.93% | 43.99% | 65.3% | 84.27% | 63.83% | 85.85% | 68.34% | 62.34% | 86.26% | 57.32% | 51.58% | 75.21% | 19.97% | 73.33% | 84.84% | 88.42% | 84.09% | 84.58% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | -0.82x | 0.64x | 1.15x | 0.63x | 0.93x | 1.22x | 0.93x | 1.24x | 0.97x | 0.89x | 1.23x | 0.83x | 0.76x | 1.22x | 0.36x | 1.56x | 2.09x | 2.35x | 2.20x | 2.16x |
| Non-Operating Income | 4.72M | -1.6M | 105K | 619K | 201K | 101K | -156K | -618K | -845K | -374K | -839K | -551K | 347K | -820K | -914K | -1.03M | -1.89M | -1.86M | -2.16M | -1.26M |
| Pretax Income | -57.16M | -27.09M | 12.77M | -30.57M | -5.75M | 19.6M | -7.24M | 25.6M | -3.39M | -12.91M | 27M | -19.95M | -25.09M | 20.16M | -42.91M | 25M | 35.41M | 40.77M | 35.78M | 31.18M |
| Pretax Margin % | -56.18% | -25.2% | 11.22% | -25.79% | -4.87% | 15.27% | -4.82% | 16.43% | -2.14% | -7.65% | 16.09% | -12.01% | -15.93% | 13.67% | -36.51% | 26.68% | 45.53% | 52.11% | 47.42% | 46.37% |
| Income Tax | 4.72M | -156K | 0 | 0 | 0 | 45K | 91K | 71K | 41K | 199K | 165K | 177K | 169K | 58K | 0 | 0 | 0 | 427K | 106K | 103K |
| Effective Tax Rate % | -8.26% | 0.58% | 0% | 0% | 0% | 0.23% | -1.26% | 0.28% | -1.21% | -1.54% | 0.61% | -0.89% | -0.67% | 0.29% | 0% | 0% | 0% | 1.05% | 0.3% | 0.33% |
| Net Income | -61.88M | -26.24M | 13.78M | -29.73M | -4.86M | 20.25M | -7.39M | 25.83M | -3.11M | -12.89M | 27.14M | -20.03M | -25.08M | 20.33M | -42.75M | 25.06M | 35.47M | 40.34M | 35.67M | 31.08M |
| Net Margin % | -60.82% | -24.41% | 12.1% | -25.07% | -4.12% | 15.78% | -4.93% | 16.57% | -1.96% | -7.63% | 16.17% | -12.06% | -15.92% | 13.78% | -36.37% | 26.75% | 45.6% | 51.57% | 47.28% | 46.21% |
| Net Income Growth % | -1173.01% | -229.56% | 286.49% | -215.07% | -56.4% | 257.17% | -127.22% | 228.98% | 87.61% | -163.4% | 163.48% | -179.92% | -170.7% | -49.61% | -219.86% | -19.36% | 17.87% | 39.8% | 14.38% | 7.44% |
| Funds From Operations (FFO) | -58.34M | -25.35M | 14.51M | -29.23M | -4.37M | 20.75M | -6.9M | 25.83M | -3.11M | -12.89M | 27.14M | -20.03M | -25.08M | 20.33M | -42.75M | 25.06M | 35.47M | 40.34M | 35.67M | 31.08M |
| FFO Margin % | -57.34% | -23.58% | 12.74% | -24.66% | -3.7% | 16.16% | -4.6% | 16.57% | -1.96% | -7.63% | 16.17% | -12.06% | -15.92% | 13.78% | -36.37% | 26.75% | 45.6% | 51.57% | 47.28% | 46.21% |
| FFO Growth % | -1234.64% | -222.16% | 310.26% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| FFO per Share | -0.90 | -0.39 | 0.22 | -0.44 | -0.06 | 0.30 | -0.10 | 0.37 | -0.04 | -0.19 | 0.39 | -0.29 | -0.36 | 0.29 | -0.62 | 0.37 | 0.51 | 0.68 | 0.64 | 0.56 |
| FFO Payout Ratio % | 0% | -64.33% | 113.17% | -58% | -393% | 83.53% | -251.2% | 67.08% | -958.98% | -230.59% | 109.49% | -148.35% | -118.48% | 146.67% | -70.05% | 116.56% | 74.4% | 59.3% | 67.07% | 76.96% |
| EPS (Diluted) | -0.96 | -0.49 | 0.12 | -0.53 | -0.15 | 0.21 | -0.19 | 0.29 | -0.05 | -0.19 | 0.31 | -0.29 | -0.37 | 0.21 | -0.62 | 0.37 | 0.51 | 0.68 | 0.64 | 0.56 |
| EPS Growth % | -540% | -333.33% | 163.16% | -282.76% | -204.88% | 210.53% | -161.29% | 200% | 86.7% | -190.48% | 150% | -178.38% | -172.55% | -69.12% | -196.88% | -33.93% | -5.56% | 30.77% | 14.29% | 7.69% |
| EPS (Basic) | -0.96 | -0.49 | 0.12 | -0.53 | -0.15 | 0.21 | -0.19 | 0.29 | -0.05 | -0.19 | 0.31 | -0.29 | -0.37 | 0.21 | -0.62 | 0.37 | 0.51 | 0.68 | 0.64 | 0.56 |
| Diluted Shares Outstanding | 64.67M | 65.44M | 65.88M | 67.19M | 68.77M | 69.4M | 69.44M | 69.42M | 69.39M | 69.38M | 69.12M | 69.12M | 69.1M | 69.11M | 69.38M | 68.55M | 69.4M | 59.45M | 56.01M | 55.91M |