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KKR Real Estate Finance Trust (KREF) Financials

KKR Real Estate Finance Trust logo
$8.93 -0.12 (-1.33%)
Closing price 05/30/2025 03:59 PM Eastern
Extended Trading
$8.95 +0.02 (+0.21%)
As of 05/30/2025 05:59 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for KKR Real Estate Finance Trust

Annual Income Statements for KKR Real Estate Finance Trust

This table shows KKR Real Estate Finance Trust's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Net Income / (Loss) Attributable to Common Shareholders		 13 -54 15
Consolidated Net Income / (Loss)		 34 -32 38
Net Income / (Loss) Continuing Operations		 34 -32 38
Total Pre-Tax Income 		35 -31 38
Total Revenue		 151 182 186
Net Interest Income / (Expense)		 152 182 186
Total Interest Income		 565 640 422
Loans and Leases Interest Income		 565 640 422
Total Interest Expense		 413 459 236
Long-Term Debt Interest Expense		 413 459 236
Total Non-Interest Income		 -0.62 0.00 0.00
Net Realized & Unrealized Capital Gains on Investments		 -0.62 0.00 0.00
Total Non-Interest Expense		 124 225 158
Salaries and Employee Benefits		 0.00 2.49 0.63
Other Operating Expenses		 124 223 158
Nonoperating Income / (Expense), net		 7.26 13 10
Income Tax Expense		 0.25 0.71 0.06
Preferred Stock Dividends Declared		 21 21 21
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.05 0.96 0.92
Basic Earnings per Share		 $0.19 ($0.78) $0.23
Weighted Average Basic Shares Outstanding		 69.40M 69.18M 67.55M
Diluted Earnings per Share		 $0.19 ($0.78) $0.23
Weighted Average Diluted Shares Outstanding		 69.40M 69.18M 67.55M
Weighted Average Basic & Diluted Shares Outstanding		 68.71M 69.31M 69.10M
Cash Dividends to Common per Share		 $1.00 $1.72 $1.72

Quarterly Income Statements for KKR Real Estate Finance Trust

This table shows KKR Real Estate Finance Trust's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders		 -11 15 -13 20 -8.74 -19 21 -26 -31 15 -48
Consolidated Net Income / (Loss)		 -5.75 20 -7.33 26 -3.43 -13 27 -20 -25 20 -43
Net Income / (Loss) Continuing Operations		 -5.75 20 -7.33 26 -3.43 -13 27 -20 -25 20 -43
Total Pre-Tax Income 		-5.75 20 -7.24 26 -3.39 -13 27 -20 -25 20 -43
Total Revenue		 31 35 37 40 39 46 45 44 47 52 47
Net Interest Income / (Expense)		 31 35 37 40 39 46 45 44 47 52 47
Total Interest Income		 114 124 140 149 152 165 163 160 153 144 115
Loans and Leases Interest Income		 114 124 140 149 152 165 163 160 153 144 115
Total Interest Expense		 83 88 103 109 112 119 119 116 106 92 67
Long-Term Debt Interest Expense		 83 88 103 109 112 119 119 116 106 92 67
Total Non-Interest Income		 0.00 - 0.00 -0.62 0.00 - 0.00 0.00 0.00 - 0.00
Total Non-Interest Expense		 38 17 46 16 45 61 21 69 74 34 92
Other Operating Expenses		 38 17 46 16 45 61 21 68 72 34 92
Nonoperating Income / (Expense), net		 0.99 1.09 1.48 2.05 2.64 1.65 3.65 4.99 2.36 2.40 1.75
Income Tax Expense		 0.00 0.05 0.09 0.07 0.04 0.20 0.17 0.18 0.17 0.06 0.00
Preferred Stock Dividends Declared		 5.33 5.33 5.33 5.33 5.33 5.33 5.33 5.33 5.33 5.33 5.33
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.53 -0.35 0.34 -0.02 -0.02 0.30 0.11 0.32 0.23 0.17 0.18
Basic Earnings per Share		 ($0.15) $0.22 ($0.19) $0.29 ($0.13) ($0.27) $0.31 ($0.37) ($0.45) $0.18 ($0.70)
Weighted Average Basic Shares Outstanding		 68.77M 69.40M 69.43M 69.42M 69.39M 69.18M 69.12M 69.12M 69.10M 67.55M 69.38M
Diluted Earnings per Share		 ($0.15) $0.22 ($0.19) $0.29 ($0.13) ($0.27) $0.31 ($0.37) ($0.45) $0.19 ($0.70)
Weighted Average Diluted Shares Outstanding		 68.77M 69.40M 69.43M 69.42M 69.39M 69.18M 69.12M 69.12M 69.10M 67.55M 69.38M
Weighted Average Basic & Diluted Shares Outstanding		 67.81M 68.71M 69.57M 69.33M 69.31M 69.31M 69.31M 69.11M 69.10M 69.10M 69.10M
Cash Dividends to Common per Share		 $0.25 $0.25 $0.25 $0.25 $0.25 $0.43 $0.43 $0.43 $0.43 $0.43 $0.43

Annual Cash Flow Statements for KKR Real Estate Finance Trust

This table details how cash moves in and out of KKR Real Estate Finance Trust's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Net Change in Cash & Equivalents		 -42 -102 -23
Net Cash From Operating Activities		 133 156 141
Net Cash From Continuing Operating Activities		 133 156 141
Net Income / (Loss) Continuing Operations		 34 -32 38
Consolidated Net Income / (Loss)		 34 -32 38
Provision For Loan Losses		 81 175 112
Depreciation Expense		 0.98 0.00 0.00
Amortization Expense		 14 26 24
Non-Cash Adjustments to Reconcile Net Income		 -6.22 -14 -20
Changes in Operating Assets and Liabilities, net		 8.50 -0.18 -12
Net Cash From Investing Activities		 1,116 13 -1,177
Net Cash From Continuing Investing Activities		 1,116 13 -1,177
Purchase of Property, Leasehold Improvements and Equipment		 -8.11 -1.86 -1.66
Purchase of Investment Securities		 -299 -677 -2,420
Sale and/or Maturity of Investments		 1,425 693 1,244
Other Investing Activities, net		 -1.75 0.00 0.00
Net Cash From Financing Activities		 -1,291 -272 1,013
Net Cash From Continuing Financing Activities		 -1,291 -272 1,013
Issuance of Debt		 602 811 3,331
Issuance of Preferred Equity		 0.00 0.00 151
Issuance of Common Equity		 0.00 0.00 194
Repayment of Debt		 -1,779 -941 -2,487
Repurchase of Common Equity		 -10 0.00 -36
Payment of Dividends		 -103 -140 -137
Other Financing Activities, Net		 -0.50 -1.66 -3.78
Cash Interest Paid		 399 430 201
Cash Income Taxes Paid		 0.37 0.30 0.71

Quarterly Cash Flow Statements for KKR Real Estate Finance Trust

This table details how cash moves in and out of KKR Real Estate Finance Trust's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents		 0.80 -4.60 -1.53 -6.11 -30 27 -101 -43 16 60 65
Net Cash From Operating Activities		 16 18 49 31 34 37 42 35 42 37 36
Net Cash From Continuing Operating Activities		 16 18 49 31 34 37 42 35 42 37 36
Net Income / (Loss) Continuing Operations		 -5.75 20 -7.33 26 -3.43 -13 27 -20 -25 20 -43
Consolidated Net Income / (Loss)		 -5.75 20 -7.33 26 -3.43 -13 27 -20 -25 20 -43
Provision For Loan Losses		 25 4.59 38 4.55 33 50 8.81 56 60 21 81
Depreciation Expense		 0.49 0.50 - - - - - - - - -
Amortization Expense		 3.08 1.30 3.79 4.25 5.03 5.73 6.55 7.10 6.80 6.79 6.45
Non-Cash Adjustments to Reconcile Net Income		 -1.24 -3.37 2.06 -2.42 -2.49 -3.85 -3.19 -4.10 -2.61 -5.08 -5.35
Changes in Operating Assets and Liabilities, net		 -5.53 -4.25 12 -1.26 2.11 -1.43 2.76 -3.74 2.23 -5.83 -3.22
Net Cash From Investing Activities		 -220 408 244 228 237 76 -122 172 -113 -207 173
Net Cash From Continuing Investing Activities		 -220 408 244 228 237 76 -122 172 -113 -207 173
Purchase of Property, Leasehold Improvements and Equipment		 -1.28 -0.02 -0.69 -5.29 -2.11 -0.47 -0.21 -0.31 -0.87 -0.54 -0.52
Purchase of Investment Securities		 -400 -58 -53 -92 -96 -138 -165 -173 -202 -415 -213
Sale and/or Maturity of Investments		 182 467 298 325 335 215 43 345 90 209 387
Other Investing Activities, net		 -1.08 -1.27 - - - - - - - - -
Net Cash From Financing Activities		 205 -431 -295 -265 -301 -87 -21 -251 87 229 -144
Net Cash From Continuing Financing Activities		 205 -431 -295 -265 -301 -87 -21 -251 87 229 -144
Issuance of Debt		 813 137 198 148 119 155 100 394 162 582 85
Repayment of Debt		 -576 -535 -470 -390 -384 -204 -86 -610 -41 -308 -189
Repurchase of Common Equity		 -9.83 - - - - - - - - -7.45 -10
Payment of Dividends		 -23 -23 -23 -23 -35 -35 -35 -35 -35 -35 -35
Other Financing Activities, Net		 0.77 -0.74 0.23 - 0.00 -1.91 - - 0.26 -2.84 0.20
Cash Interest Paid		 85 90 93 107 108 112 111 112 95 82 56

Annual Balance Sheets for KKR Real Estate Finance Trust

This table presents KKR Real Estate Finance Trust's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Total Assets		 6,350 7,548 7,802
Cash and Due from Banks		 105 0.00 240
Trading Account Securities		 117 35 -
Loans and Leases, Net of Allowance		 -117 -210 -107
Allowance for Loan and Lease Losses		 117 210 107
Other Assets		 6,245 244 7,670
Total Liabilities & Shareholders' Equity		 6,350 7,548 7,802
Total Liabilities		 4,952 6,143 6,231
Short-Term Debt		 2,799 3,782 3,749
Accrued Interest Payable		 20 20 18
Other Short-Term Payables		 17 30 30
Long-Term Debt		 2,100 2,278 2,416
Other Long-Term Liabilities		 14 18 0.00
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,399 1,404 1,571
Total Preferred & Common Equity		 1,345 1,405 1,572
Preferred Stock		 0.13 0.13 0.13
Total Common Equity		 1,345 1,405 1,571
Common Stock		 1,715 1,816 1,810
Retained Earnings		 -370 -314 -142
Treasury Stock		 0.00 -97 -97
Noncontrolling Interest		 54 -0.59 -0.10

Quarterly Balance Sheets for KKR Real Estate Finance Trust

This table presents KKR Real Estate Finance Trust's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 3/31/2025 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets		 6,555 6,774 7,064 7,257 7,625 7,609 7,876 7,541
Cash and Due from Banks		 106 109 107 107 108 208 254 183
Trading Account Securities		 117 117 117 - - - - -
Loans and Leases, Net of Allowance		 -142 -148 -111 -244 -219 -224 0.00 0.00
Allowance for Loan and Lease Losses		 142 148 111 244 219 224 - -
Other Assets		 6,473 6,558 6,950 7,394 7,736 7,625 7,622 7,358
Total Liabilities & Shareholders' Equity		 6,555 6,774 7,064 7,257 7,625 7,609 7,876 7,541
Total Liabilities		 5,191 5,363 5,625 5,877 6,172 6,150 6,363 5,946
Short-Term Debt		 3,024 3,018 3,286 3,522 3,827 3,808 3,875 3,469
Accrued Interest Payable		 15 23 17 19 19 18 22 15
Other Short-Term Payables		 17 17 17 17 30 30 - -
Long-Term Debt		 2,117 2,275 2,276 2,278 2,277 2,276 2,426 2,423
Other Long-Term Liabilities		 17 0.00 26 0.00 0.00 0.00 40 39
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,364 1,411 1,439 1,380 1,453 1,460 1,513 1,595
Total Preferred & Common Equity		 1,310 1,358 1,386 1,381 1,454 1,460 1,513 1,595
Preferred Stock		 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13
Total Common Equity		 1,310 1,358 1,386 1,381 1,454 1,460 1,513 1,595
Common Stock		 1,708 1,726 1,724 1,818 1,816 1,814 1,812 1,811
Retained Earnings		 -398 -368 -338 -340 -266 -258 -202 -126
Noncontrolling Interest		 54 53 53 -0.91 -0.43 -0.12 -0.02 -0.04

Annual Metrics And Ratios for KKR Real Estate Finance Trust

This table displays calculated financial ratios and metrics derived from KKR Real Estate Finance Trust's official financial filings.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Growth Metrics		 - - -
Revenue Growth		 -16.80% -2.29% 8.93%
EBITDA Growth		 345.00% -133.96% -65.00%
EBIT Growth		 162.66% -258.97% -79.03%
NOPAT Growth		 188.87% -211.45% -78.96%
Net Income Growth		 208.43% -184.21% -72.60%
EPS Growth		 124.36% -439.13% -89.59%
Operating Cash Flow Growth		 -14.87% 10.34% 13.09%
Free Cash Flow Firm Growth		 394.99% 123.06% 34.94%
Invested Capital Growth		 -15.63% -3.51% 16.11%
Revenue Q/Q Growth		 -6.99% -2.90% 2.39%
EBITDA Q/Q Growth		 504.64% -209.10% -27.25%
EBIT Q/Q Growth		 574.54% -286.88% -43.07%
NOPAT Q/Q Growth		 685.36% -269.78% -42.74%
Net Income Q/Q Growth		 1,970.39% -2,133.20% -35.00%
EPS Q/Q Growth		 163.33% -143.75% -64.06%
Operating Cash Flow Q/Q Growth		 -12.26% -0.21% 7.00%
Free Cash Flow Firm Q/Q Growth		 40.67% 407.57% 39.22%
Invested Capital Q/Q Growth		 -6.07% -1.24% 3.32%
Profitability Metrics		 - - -
EBITDA Margin		 28.24% -9.59% 27.59%
EBIT Margin		 18.08% -24.01% 14.76%
Profit (Net Income) Margin		 22.72% -17.43% 20.23%
Tax Burden Percent		 99.28% 102.29% 99.85%
Interest Burden Percent		 126.56% 70.98% 137.27%
Effective Tax Rate		 0.72% 0.00% 0.15%
Return on Invested Capital (ROIC)		 0.39% -0.40% 0.38%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.53% -0.42% 0.56%
Return on Net Nonoperating Assets (RNNOA)		 2.06% -1.73% 2.18%
Return on Equity (ROE)		 2.45% -2.13% 2.56%
Cash Return on Invested Capital (CROIC)		 17.35% 3.17% -14.53%
Operating Return on Assets (OROA)		 0.39% -0.57% 0.38%
Return on Assets (ROA)		 0.49% -0.41% 0.52%
Return on Common Equity (ROCE)		 2.40% -2.13% 2.56%
Return on Equity Simple (ROE_SIMPLE)		 2.55% -2.25% 2.39%
Net Operating Profit after Tax (NOPAT)		 27 -31 27
NOPAT Margin		 17.95% -16.81% 14.73%
Net Nonoperating Expense Percent (NNEP)		 -0.13% 0.02% -0.18%
SG&A Expenses to Revenue		 0.00% 1.37% 0.34%
Operating Expenses to Revenue		 81.92% 124.01% 85.24%
Earnings before Interest and Taxes (EBIT)		 27 -44 27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 43 -17 51
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 0.52 0.59 0.48
Price to Tangible Book Value (P/TBV)		 0.52 0.59 0.48
Price to Revenue (P/Rev)		 4.65 4.58 4.09
Price to Earnings (P/E)		 53.76 0.00 49.40
Dividend Yield		 9.90% 14.34% 15.65%
Earnings Yield		 1.86% 0.00% 2.02%
Enterprise Value to Invested Capital (EV/IC)		 0.88 0.92 0.86
Enterprise Value to Revenue (EV/Rev)		 36.73 37.94 35.96
Enterprise Value to EBITDA (EV/EBITDA)		 130.06 0.00 130.33
Enterprise Value to EBIT (EV/EBIT)		 203.17 0.00 243.69
Enterprise Value to NOPAT (EV/NOPAT)		 204.64 0.00 244.07
Enterprise Value to Operating Cash Flow (EV/OCF)		 41.87 44.25 47.36
Enterprise Value to Free Cash Flow (EV/FCFF)		 4.65 28.57 0.00
Leverage & Solvency		 - - -
Debt to Equity		 3.50 4.32 3.92
Long-Term Debt to Equity		 1.50 1.62 1.54
Financial Leverage		 3.91 4.11 3.91
Leverage Ratio		 4.96 5.16 4.95
Compound Leverage Factor		 6.28 3.66 6.79
Debt to Total Capital		 77.79% 81.19% 79.69%
Short-Term Debt to Total Capital		 44.44% 50.67% 48.46%
Long-Term Debt to Total Capital		 33.35% 30.51% 31.23%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.86% -0.01% 0.00%
Common Equity to Total Capital		 21.36% 18.82% 20.31%
Debt to EBITDA		 114.78 -347.89 120.20
Net Debt to EBITDA		 112.33 -347.89 115.52
Long-Term Debt to EBITDA		 49.21 -130.75 47.10
Debt to NOPAT		 180.61 -198.55 225.09
Net Debt to NOPAT		 176.74 -198.55 216.34
Long-Term Debt to NOPAT		 77.42 -74.62 88.21
Noncontrolling Interest Sharing Ratio		 1.91% -0.01% 0.01%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 1,194 241 -1,046
Operating Cash Flow to CapEx		 1,635.37% 8,371.77% 8,491.28%
Free Cash Flow to Firm to Interest Expense		 2.89 0.53 -4.43
Operating Cash Flow to Interest Expense		 0.32 0.34 0.60
Operating Cash Flow Less CapEx to Interest Expense		 0.30 0.34 0.59
Efficiency Ratios		 - - -
Asset Turnover		 0.02 0.02 0.03
Fixed Asset Turnover		 0.00 0.00 0.00
Capital & Investment Metrics		 - - -
Invested Capital		 6,298 7,464 7,736
Invested Capital Turnover		 0.02 0.02 0.03
Increase / (Decrease) in Invested Capital		 -1,167 -272 1,073
Enterprise Value (EV)		 5,550 6,891 6,684
Market Capitalization		 703 831 759
Book Value per Share		 $19.33 $20.26 $22.74
Tangible Book Value per Share		 $19.33 $20.26 $22.74
Total Capital		 6,298 7,464 7,736
Total Debt		 4,899 6,060 6,164
Total Long-Term Debt		 2,100 2,278 2,416
Net Debt		 4,794 6,060 5,925
Capital Expenditures (CapEx)		 8.11 1.86 1.66
Net Nonoperating Expense (NNE)		 -7.20 1.14 -10
Net Nonoperating Obligations (NNO)		 4,899 6,060 6,164
Total Depreciation and Amortization (D&A)		 15 26 24
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.19 ($0.78) $0.00
Adjusted Weighted Average Basic Shares Outstanding		 69.40M 69.18M 0.00
Adjusted Diluted Earnings per Share		 $0.19 ($0.78) $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 69.40M 69.18M 0.00
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 68.71M 69.31M 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 27 -31 27
Normalized NOPAT Margin		 17.95% -16.81% 14.73%
Pre Tax Income Margin		 22.88% -17.04% 20.26%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 0.07 -0.10 0.12
NOPAT to Interest Expense		 0.07 -0.07 0.12
EBIT Less CapEx to Interest Expense		 0.05 -0.10 0.11
NOPAT Less CapEx to Interest Expense		 0.05 -0.07 0.11
Payout Ratios		 - - -
Dividend Payout Ratio		 300.36% -442.74% 364.18%
Augmented Payout Ratio		 329.56% -442.74% 459.37%

Quarterly Metrics And Ratios for KKR Real Estate Finance Trust

This table displays calculated financial ratios and metrics derived from KKR Real Estate Finance Trust's official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -19.93% -24.43% -17.05% -9.41% -15.92% -10.45% -5.71% -4.18% 14.18% 9.12% 4.02%
EBITDA Growth		 -217.47% 329.85% -116.45% 255.86% 95.18% -135.98% 178.25% -162.59% -156.65% -43.89% -202.20%
EBIT Growth		 -11.78% 227.05% -137.31% 194.44% 78.05% -182.01% 152.28% -209.73% -186.83% -53.88% -233.40%
NOPAT Growth		 -11.78% 281.08% -126.28% 234.54% 78.05% -157.57% 174.22% -176.81% -160.78% -53.53% -193.66%
Net Income Growth		 -67.66% 249.13% -127.31% 226.85% 86.42% -165.24% 162.53% -180.51% -171.31% -50.17% -220.31%
EPS Growth		 -15.38% 181.48% -161.29% 178.38% 71.11% -242.11% 144.29% -232.14% -197.83% -68.33% -222.81%
Operating Cash Flow Growth		 -53.85% -50.27% 17.58% -13.62% -17.17% -0.89% 17.42% 0.62% 25.67% 33.07% -8.21%
Free Cash Flow Firm Growth		 6.22% 353.21% 1,904.48% 437.52% 186.38% 124.77% 97.39% 104.89% 60.21% 37.89% -263.38%
Invested Capital Growth		 -9.40% -15.63% -11.29% -7.19% -8.13% -3.51% 0.94% -1.60% 10.01% 16.11% 30.93%
Revenue Q/Q Growth		 -10.80% -5.06% -7.06% 1.72% -15.80% 4.21% 1.50% -5.59% -10.33% 9.72% 3.15%
EBITDA Q/Q Growth		 -115.57% 512.70% -117.70% 2,891.16% 96.93% -129.54% 267.66% 13.63% -184.12% 164.24% -234.11%
EBIT Q/Q Growth		 -136.39% 312.42% -137.00% 490.85% 58.64% -162.39% 193.65% 9.16% -254.53% 139.77% -296.58%
NOPAT Q/Q Growth		 -125.53% 402.76% -125.97% 656.82% 58.64% -143.94% 232.96% 9.16% -208.48% 156.64% -237.61%
Net Income Q/Q Growth		 -129.40% 366.87% -128.71% 844.47% 73.85% -148.87% 233.34% 20.31% -225.64% 146.84% -271.69%
EPS Q/Q Growth		 -168.18% 215.79% -165.52% 323.08% 51.85% -187.10% 183.78% 17.78% -336.84% 127.14% -350.00%
Operating Cash Flow Q/Q Growth		 -13.13% -62.69% 60.27% -11.15% -6.39% -11.79% 17.74% -14.80% 12.01% 4.51% 0.89%
Free Cash Flow Firm Q/Q Growth		 -43.46% 39.89% 49.64% -10.26% 141.26% 656.99% -144.57% 114.42% 30.81% 41.36% 16.40%
Invested Capital Q/Q Growth		 3.29% -6.07% -4.23% -2.49% -3.81% -1.24% 0.19% -3.47% 1.02% 3.32% -2.33%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 -10.09% 57.79% -13.30% 69.82% -2.54% -19.00% 67.03% -40.58% -44.36% 47.29% -80.77%
EBIT Margin		 -21.49% 52.68% -23.55% 59.14% -15.39% -31.33% 52.34% -56.73% -58.96% 34.21% -94.41%
Profit (Net Income) Margin		 -18.34% 55.66% -19.80% 64.11% -8.76% -28.20% 60.15% -45.79% -54.25% 38.72% -90.70%
Tax Burden Percent		 100.00% 99.77% 101.26% 99.72% 101.21% 101.54% 99.39% 100.89% 100.67% 99.71% 100.00%
Interest Burden Percent		 85.36% 105.91% 83.06% 108.71% 56.23% 88.65% 115.62% 80.00% 91.39% 113.49% 96.07%
Effective Tax Rate		 0.00% 0.23% 0.00% 0.28% 0.00% 0.00% 0.61% 0.00% 0.00% 0.29% 0.00%
Return on Invested Capital (ROIC)		 -0.32% 1.15% -0.38% 1.38% -0.25% -0.52% 1.29% -0.99% -1.06% 0.88% -1.82%
ROIC Less NNEP Spread (ROIC-NNEP)		 -0.33% 1.17% -0.40% 1.41% -0.24% -0.57% 1.35% -1.04% -1.16% 0.92% -2.04%
Return on Net Nonoperating Assets (RNNOA)		 -1.33% 4.59% -1.58% 5.68% -0.99% -2.35% 5.33% -3.98% -4.32% 3.61% -7.48%
Return on Equity (ROE)		 -1.65% 5.74% -1.96% 7.06% -1.24% -2.87% 6.62% -4.98% -5.38% 4.49% -9.29%
Cash Return on Invested Capital (CROIC)		 10.25% 17.35% 11.90% 7.82% 8.26% 3.17% -1.04% 0.88% -9.83% -14.53% -26.06%
Operating Return on Assets (OROA)		 -0.45% 1.15% -0.53% 1.37% -0.35% -0.74% 1.29% -1.41% -1.50% 0.88% -2.58%
Return on Assets (ROA)		 -0.38% 1.21% -0.45% 1.49% -0.20% -0.67% 1.48% -1.13% -1.38% 0.99% -2.48%
Return on Common Equity (ROCE)		 -1.61% 5.63% -1.92% 6.93% -1.24% -2.87% 6.62% -4.98% -5.38% 4.49% -9.28%
Return on Equity Simple (ROE_SIMPLE)		 2.44% 0.00% 0.12% 2.58% -0.71% 0.00% 0.11% -4.67% -1.52% 0.00% 3.63%
Net Operating Profit after Tax (NOPAT)		 -4.71 18 -6.10 23 -4.22 -10 23 -17 -19 18 -31
NOPAT Margin		 -15.04% 52.56% -16.48% 58.98% -10.77% -21.93% 52.02% -39.71% -41.27% 34.12% -66.08%
Net Nonoperating Expense Percent (NNEP)		 0.02% -0.02% 0.02% -0.04% -0.01% 0.05% -0.06% 0.04% 0.10% -0.04% 0.22%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.15% 1.39% 3.89% 1.22% 0.00%
Operating Expenses to Revenue		 121.49% 47.32% 123.55% 40.86% 115.39% 131.33% 47.66% 156.73% 158.96% 65.79% 194.41%
Earnings before Interest and Taxes (EBIT)		 -6.74 19 -8.71 24 -6.03 -15 23 -25 -27 18 -45
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -3.16 20 -4.92 28 -1.00 -8.83 30 -18 -21 25 -38
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.57 0.52 0.63 0.45 0.49 0.59 0.51 0.51 0.45 0.48 0.56
Price to Tangible Book Value (P/TBV)		 0.57 0.52 0.63 0.45 0.49 0.59 0.51 0.51 0.45 0.48 0.56
Price to Revenue (P/Rev)		 5.18 4.65 5.27 3.69 3.89 4.58 3.95 3.93 3.52 4.09 4.95
Price to Earnings (P/E)		 65.91 53.76 0.00 0.00 0.00 0.00 0.00 0.00 0.00 49.40 18.91
Dividend Yield		 9.26% 9.90% 9.55% 15.03% 15.74% 14.34% 16.08% 15.94% 17.64% 15.65% 13.26%
Earnings Yield		 1.52% 1.86% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.02% 5.29%
Enterprise Value to Invested Capital (EV/IC)		 0.90 0.88 0.91 0.88 0.89 0.92 0.89 0.88 0.86 0.86 0.88
Enterprise Value to Revenue (EV/Rev)		 40.69 36.73 37.51 36.07 36.57 37.94 36.01 34.90 35.07 35.96 36.40
Enterprise Value to EBITDA (EV/EBITDA)		 143.93 130.06 0.00 252.69 0.00 0.00 421.83 0.00 0.00 130.33 93.73
Enterprise Value to EBIT (EV/EBIT)		 219.12 203.17 0.00 233.20 0.00 0.00 0.00 0.00 0.00 243.69 137.14
Enterprise Value to NOPAT (EV/NOPAT)		 220.54 204.64 0.00 236.30 0.00 0.00 0.00 0.00 0.00 244.07 138.15
Enterprise Value to Operating Cash Flow (EV/OCF)		 51.15 41.87 40.34 42.68 42.88 44.25 43.16 44.19 44.92 47.36 50.10
Enterprise Value to Free Cash Flow (EV/FCFF)		 8.32 4.65 7.18 10.79 10.28 28.57 0.00 98.43 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 3.77 3.50 3.75 3.86 4.20 4.32 4.20 4.17 4.16 3.92 3.69
Long-Term Debt to Equity		 1.55 1.50 1.61 1.58 1.65 1.62 1.57 1.56 1.60 1.54 1.52
Financial Leverage		 3.99 3.91 3.98 4.02 4.18 4.11 3.94 3.85 3.72 3.91 3.66
Leverage Ratio		 5.03 4.96 5.03 5.06 5.23 5.16 4.98 4.89 4.75 4.95 4.69
Compound Leverage Factor		 4.30 5.25 4.18 5.50 2.94 4.57 5.75 3.91 4.34 5.61 4.51
Debt to Total Capital		 79.04% 77.79% 78.95% 79.44% 80.78% 81.19% 80.77% 80.65% 80.64% 79.69% 78.69%
Short-Term Debt to Total Capital		 46.49% 44.44% 45.01% 46.93% 49.05% 50.67% 50.64% 50.48% 49.59% 48.46% 46.33%
Long-Term Debt to Total Capital		 32.54% 33.35% 33.94% 32.51% 31.72% 30.51% 30.13% 30.17% 31.05% 31.23% 32.36%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.83% 0.86% 0.80% 0.76% -0.01% -0.01% -0.01% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 20.13% 21.36% 20.25% 19.80% 19.23% 18.82% 19.23% 19.35% 19.36% 20.31% 21.30%
Debt to EBITDA		 126.91 114.78 -501.84 229.07 -271.52 -347.89 382.32 -116.64 -1,082.34 120.20 83.59
Net Debt to EBITDA		 124.28 112.33 -491.52 224.66 -266.53 -347.89 375.56 -112.66 -1,038.69 115.52 80.98
Long-Term Debt to EBITDA		 52.26 49.21 -215.73 93.74 -106.63 -130.75 142.60 -43.63 -416.71 47.10 34.37
Debt to NOPAT		 194.46 180.61 -1,142.30 214.21 -373.58 -198.55 -739.57 -109.61 -284.58 225.09 123.19
Net Debt to NOPAT		 190.43 176.74 -1,118.82 210.09 -366.71 -198.55 -726.48 -105.87 -273.11 216.34 119.36
Long-Term Debt to NOPAT		 80.07 77.42 -491.05 87.66 -146.71 -74.62 -275.85 -41.00 -109.57 88.21 50.66
Noncontrolling Interest Sharing Ratio		 1.94% 1.91% 1.86% 1.84% -0.02% -0.01% -0.01% 0.01% 0.01% 0.01% 0.10%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 670 1,185 847 566 631 261 -47 105 -730 -1,056 -1,800
Operating Cash Flow to CapEx		 1,241.50% 91,610.00% 7,169.34% 579.15% 1,634.50% 7,788.79% 19,608.45% 11,592.48% 4,796.66% 6,845.67% 6,840.19%
Free Cash Flow to Firm to Interest Expense		 8.11 13.39 8.21 5.20 5.61 2.21 -0.40 0.91 -6.89 -11.52 -26.74
Operating Cash Flow to Interest Expense		 0.19 0.21 0.48 0.28 0.31 0.31 0.35 0.31 0.39 0.41 0.53
Operating Cash Flow Less CapEx to Interest Expense		 0.18 0.21 0.47 0.23 0.29 0.31 0.35 0.30 0.38 0.40 0.52
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.03 0.03 0.03
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 6,505 6,298 6,704 7,001 7,179 7,464 7,557 7,543 7,815 7,736 7,487
Invested Capital Turnover		 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.03 0.03 0.03 0.03
Increase / (Decrease) in Invested Capital		 -675 -1,167 -853 -543 -635 -272 70 -123 711 1,073 1,769
Enterprise Value (EV)		 5,831 5,550 6,094 6,135 6,370 6,891 6,735 6,621 6,721 6,684 6,607
Market Capitalization		 742 703 856 627 678 831 739 746 674 759 899
Book Value per Share		 $19.06 $19.33 $19.58 $20.00 $19.90 $20.26 $21.03 $21.13 $21.90 $22.74 $23.03
Tangible Book Value per Share		 $19.06 $19.33 $19.58 $20.00 $19.90 $20.26 $21.03 $21.13 $21.90 $22.74 $23.03
Total Capital		 6,505 6,298 6,704 7,001 7,179 7,464 7,557 7,543 7,815 7,736 7,487
Total Debt		 5,141 4,899 5,293 5,561 5,799 6,060 6,104 6,084 6,301 6,164 5,892
Total Long-Term Debt		 2,117 2,100 2,275 2,276 2,278 2,278 2,277 2,276 2,426 2,416 2,423
Net Debt		 5,035 4,794 5,184 5,454 5,693 6,060 5,996 5,876 6,047 5,925 5,709
Capital Expenditures (CapEx)		 1.28 0.02 0.69 5.29 2.11 0.47 0.21 0.31 0.87 0.54 0.52
Net Nonoperating Expense (NNE)		 1.03 -1.09 1.23 -2.04 -0.79 2.92 -3.63 2.67 6.04 -2.39 12
Net Nonoperating Obligations (NNO)		 5,141 4,899 5,293 5,561 5,799 6,060 6,104 6,084 6,301 6,164 5,892
Total Depreciation and Amortization (D&A)		 3.57 1.80 3.79 4.25 5.03 5.73 6.55 7.10 6.80 6.79 6.45
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.15) $0.22 ($0.19) $0.29 ($0.13) ($0.27) $0.31 ($0.37) ($0.45) $0.18 ($0.70)
Adjusted Weighted Average Basic Shares Outstanding		 68.77M 69.40M 69.43M 69.42M 69.39M 69.18M 69.12M 69.12M 69.10M 67.55M 69.38M
Adjusted Diluted Earnings per Share		 ($0.15) $0.22 ($0.19) $0.29 ($0.13) ($0.27) $0.31 ($0.37) ($0.45) $0.19 ($0.70)
Adjusted Weighted Average Diluted Shares Outstanding		 68.77M 69.40M 69.43M 69.42M 69.39M 69.18M 69.12M 69.12M 69.10M 67.55M 69.38M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 67.81M 68.71M 69.57M 69.33M 69.31M 69.31M 69.31M 69.11M 69.10M 69.10M 69.10M
Normalized Net Operating Profit after Tax (NOPAT)		 -4.71 18 -6.10 23 -4.22 -10 23 -17 -19 18 -31
Normalized NOPAT Margin		 -15.04% 52.56% -16.48% 58.98% -10.77% -21.93% 52.02% -39.71% -41.27% 34.12% -66.08%
Pre Tax Income Margin		 -18.34% 55.79% -19.56% 64.29% -8.66% -27.78% 60.52% -45.38% -53.88% 38.83% -90.70%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -0.08 0.21 -0.08 0.22 -0.05 -0.12 0.20 -0.22 -0.26 0.19 -0.66
NOPAT to Interest Expense		 -0.06 0.21 -0.06 0.22 -0.04 -0.09 0.20 -0.15 -0.18 0.19 -0.46
EBIT Less CapEx to Interest Expense		 -0.10 0.21 -0.09 0.17 -0.07 -0.13 0.20 -0.22 -0.27 0.19 -0.67
NOPAT Less CapEx to Interest Expense		 -0.07 0.21 -0.07 0.17 -0.06 -0.09 0.19 -0.15 -0.19 0.19 -0.47
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 282.68% 300.36% 6,965.38% 356.98% -1,426.48% -442.74% 9,008.16% -206.02% -607.76% 364.18% 221.80%
Augmented Payout Ratio		 344.72% 329.56% 6,965.38% 356.98% -1,426.48% -442.74% 9,008.16% -206.02% -607.76% 459.37% 270.80%

Frequently Asked Questions About KKR Real Estate Finance Trust's Financials

When does KKR Real Estate Finance Trust's fiscal year end?

According to the most recent income statement we have on file, KKR Real Estate Finance Trust's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has KKR Real Estate Finance Trust's net income changed over the last 2 years?

KKR Real Estate Finance Trust's net income appears to be on a downward trend, with a most recent value of $34.33 million in 2024, falling from $37.59 million in 2022. The previous period was -$31.66 million in 2023. View KKR Real Estate Finance Trust's forecast to see where analysts expect KKR Real Estate Finance Trust to go next.

How has KKR Real Estate Finance Trust revenue changed over the last 2 years?

Over the last 2 years, KKR Real Estate Finance Trust's total revenue changed from $185.87 million in 2022 to $151.10 million in 2024, a change of -18.7%.

How much debt does KKR Real Estate Finance Trust have?

KKR Real Estate Finance Trust's total liabilities were at $4.95 billion at the end of 2024, a 19.4% decrease from 2023, and a 20.5% decrease since 2022.

How much cash does KKR Real Estate Finance Trust have?

In the past 2 years, KKR Real Estate Finance Trust's cash and equivalents has ranged from $0.00 in 2023 to $239.79 million in 2022, and is currently $104.93 million as of their latest financial filing in 2024.

How has KKR Real Estate Finance Trust's book value per share changed over the last 2 years?

Over the last 2 years, KKR Real Estate Finance Trust's book value per share changed from 22.74 in 2022 to 19.33 in 2024, a change of -15.0%.


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This page (NYSE:KREF) was last updated on 5/31/2025 by MarketBeat.com Staff
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