Shareholder returns
- Dividends have been paid for 11 consecutive years.
- The dividend has declined 7.1% per year over the past 5 years.
KREF Financials Kkr Real Estate Finance Trust Inc.
11 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
Net income
ROEROA
Equity
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | — | -$47M | — | — | -4.0% | -0.7% | — | — | $85M |
| 2024 | — | $36M | — | — | 2.6% | 0.6% | — | — | $105M |
| 2023 | — | -$31M | — | — | -2.2% | -0.4% | — | — | $136M |
| 2022 | — | $38M | — | — | 2.4% | 0.5% | — | — | $240M |
| 2021 | — | $137M | — | — | 10.1% | 2.0% | — | — | $271M |
| 2020 | — | $54M | — | — | 5.2% | 1.1% | — | — | $111M |
| 2019 | — | $90M | — | — | 8.0% | 1.8% | — | — | $68M |
| 2018 | — | $90M | — | — | 7.9% | 1.7% | — | — | $87M |
| 2017 | — | $59M | — | — | 5.6% | 0.8% | — | $6.2B | $103M |
| 2016 | — | $31M | — | — | 6.3% | 0.5% | — | $5.8B | $96M |
| 2015 | — | $17M | — | — | — | — | — | — | — |
Net income
ROEROA
Equity
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Jun '26 | — | -$116M | — | — | -12.5% | -1.8% | — | — | $83M |
| Mar '26 | — | -$56M | — | — | -5.1% | -0.8% | — | — | $135M |
| Dec '25 | — | -$26M | — | — | -2.2% | -0.4% | — | — | $85M |
| Sep '25 | — | $14M | — | — | 1.1% | 0.2% | — | — | $204M |
| Jun '25 | — | -$30M | — | — | -2.4% | -0.4% | — | — | $108M |
| Mar '25 | — | -$5M | — | — | -0.4% | -0.1% | — | — | $106M |
| Dec '24 | — | $20M | — | — | 1.5% | 0.3% | — | — | $105M |
| Sep '24 | — | -$7M | — | — | -0.5% | -0.1% | — | — | $109M |
| Jun '24 | — | $26M | — | — | 1.9% | 0.4% | — | — | $107M |
| Mar '24 | — | -$3M | — | — | -0.2% | -0.0% | — | — | $107M |
| Dec '23 | — | -$13M | — | — | -0.9% | -0.2% | — | — | $136M |
| Sep '23 | — | $27M | — | — | 1.9% | 0.4% | — | — | $108M |
| Jun '23 | — | -$20M | — | — | -1.4% | -0.3% | — | — | $208M |
| Mar '23 | — | -$25M | — | — | -1.7% | -0.3% | — | — | $254M |
| Dec '22 | — | $20M | — | — | 1.3% | 0.3% | — | — | $240M |
| Sep '22 | — | -$43M | — | — | -2.7% | -0.6% | — | — | $183M |
| Jun '22 | — | $25M | — | — | 1.5% | 0.3% | — | — | $118M |
| Mar '22 | — | $35M | — | — | 2.2% | 0.5% | — | — | $173M |
| Dec '21 | — | $40M | — | — | 3.0% | 0.6% | — | — | $271M |
| Sep '21 | — | $36M | — | — | 2.9% | 0.6% | — | — | $308M |
Valuation over time
How the market has priced KREF against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has fallen from 17.5× (Mar '23) to 14.0× (Nov '25).
- The dividend yield has fallen from 17.3% (Mar '23) to 15.1% (Sep '26).
P/E
Dividend yield %
Frequently asked questions
Is KREF growing its revenue and profit?
See the revenue and net-income charts above for Kkr Real Estate Finance Trust Inc.'s multi-year trend.
How much debt does KREF have?
As of FY2025, Kkr Real Estate Finance Trust Inc. reported — of total debt against $85M of cash.
What is KREF's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin —.
What is KREF's P/E ratio?
As of Sep '26, Kkr Real Estate Finance Trust Inc. traded at a price-to-earnings ratio of about 14.0× (market cap ÷ latest annual net income). The valuation charts above show how its P/E and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.