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Side-by-side financial comparison of ADC Therapeutics SA (ADCT) and KKR Real Estate Finance Trust Inc. (KREF). Click either name above to swap in a different company.
KKR Real Estate Finance Trust Inc. is the larger business by last-quarter revenue ($25.8M vs $23.1M, roughly 1.1× ADC Therapeutics SA). On growth, ADC Therapeutics SA posted the faster year-over-year revenue change (36.4% vs -26.6%). Over the past eight quarters, ADC Therapeutics SA's revenue compounded faster (13.7% CAGR vs -18.8%).
ADC Telecommunications, Inc. was a communications company in Eden Prairie, Minnesota, a southwest suburb of Minneapolis. It was acquired by TE Connectivity in December 2010 and ceased to exist as a separate entity. ADC products were sold by CommScope after it acquired the Broadband Network Solutions business unit from TE Connectivity in August 2015.
KKR Real Estate Finance Trust Inc. is a specialized real estate finance firm sponsored by global investment firm KKR. It primarily originates, acquires, and manages a portfolio of senior secured commercial real estate loans, mostly backed by high-quality institutional commercial properties across the United States, delivering stable risk-adjusted returns to investors via interest income from its diversified assets.
ADCT vs KREF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $23.1M | $25.8M |
| Net Profit | — | $-26.2M |
| Gross Margin | — | — |
| Operating Margin | -77.7% | -105.1% |
| Net Margin | — | -101.7% |
| Revenue YoY | 36.4% | -26.6% |
| Net Profit YoY | — | -229.6% |
| EPS (diluted) | $0.04 | $-0.49 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $23.1M | $25.8M | ||
| Q3 25 | $15.8M | $25.3M | ||
| Q2 25 | $18.1M | $30.2M | ||
| Q1 25 | $17.4M | $31.3M | ||
| Q4 24 | $16.9M | $35.1M | ||
| Q3 24 | $18.0M | $37.0M | ||
| Q2 24 | $17.0M | $40.4M | ||
| Q1 24 | $17.8M | $39.1M |
| Q4 25 | — | $-26.2M | ||
| Q3 25 | $-41.0M | $13.8M | ||
| Q2 25 | $-56.6M | $-29.7M | ||
| Q1 25 | $-38.6M | $-4.9M | ||
| Q4 24 | — | $20.3M | ||
| Q3 24 | $-44.0M | $-7.4M | ||
| Q2 24 | $-36.5M | $25.8M | ||
| Q1 24 | $-46.6M | $-3.1M |
| Q4 25 | -77.7% | -105.1% | ||
| Q3 25 | -196.6% | 50.4% | ||
| Q2 25 | -244.1% | -101.3% | ||
| Q1 25 | -163.5% | -18.3% | ||
| Q4 24 | -191.8% | 55.8% | ||
| Q3 24 | -197.4% | -19.6% | ||
| Q2 24 | -170.5% | 63.3% | ||
| Q1 24 | -188.3% | -8.7% |
| Q4 25 | — | -101.7% | ||
| Q3 25 | -260.1% | 54.4% | ||
| Q2 25 | -313.2% | -98.5% | ||
| Q1 25 | -221.8% | -15.5% | ||
| Q4 24 | — | 57.7% | ||
| Q3 24 | -244.1% | -20.0% | ||
| Q2 24 | -214.6% | 63.9% | ||
| Q1 24 | -261.1% | -7.9% |
| Q4 25 | $0.04 | $-0.49 | ||
| Q3 25 | $-0.30 | $0.12 | ||
| Q2 25 | $-0.50 | $-0.53 | ||
| Q1 25 | $-0.36 | $-0.15 | ||
| Q4 24 | $-0.26 | $0.22 | ||
| Q3 24 | $-0.42 | $-0.19 | ||
| Q2 24 | $-0.38 | $0.29 | ||
| Q1 24 | $-0.56 | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $261.3M | $84.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-185.8M | $1.2B |
| Total Assets | $323.1M | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $261.3M | $84.6M | ||
| Q3 25 | $234.7M | $204.1M | ||
| Q2 25 | $264.6M | $107.7M | ||
| Q1 25 | $194.7M | $106.4M | ||
| Q4 24 | $250.9M | $104.9M | ||
| Q3 24 | $274.3M | $108.8M | ||
| Q2 24 | $300.1M | $107.2M | ||
| Q1 24 | $234.3M | $106.5M |
| Q4 25 | $-185.8M | $1.2B | ||
| Q3 25 | $-238.2M | $1.2B | ||
| Q2 25 | $-199.2M | $1.2B | ||
| Q1 25 | $-238.2M | $1.3B | ||
| Q4 24 | $-202.6M | $1.3B | ||
| Q3 24 | $-171.9M | $1.4B | ||
| Q2 24 | $-131.7M | $1.4B | ||
| Q1 24 | $-194.4M | $1.4B |
| Q4 25 | $323.1M | $6.5B | ||
| Q3 25 | $289.8M | $6.5B | ||
| Q2 25 | $321.6M | $6.8B | ||
| Q1 25 | $272.5M | $6.6B | ||
| Q4 24 | $322.0M | $6.4B | ||
| Q3 24 | $349.1M | $6.8B | ||
| Q2 24 | $371.8M | $7.1B | ||
| Q1 24 | $308.0M | $7.3B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-31.1M | $72.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-31.1M | $72.3M | ||
| Q3 25 | $-29.6M | $18.5M | ||
| Q2 25 | $-24.1M | $21.1M | ||
| Q1 25 | $-56.3M | $15.9M | ||
| Q4 24 | $-21.9M | $132.6M | ||
| Q3 24 | $-25.0M | $49.1M | ||
| Q2 24 | $-32.8M | $30.6M | ||
| Q1 24 | $-44.1M | $34.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $-56.6M | — | ||
| Q4 24 | $-21.9M | — | ||
| Q3 24 | $-25.3M | — | ||
| Q2 24 | $-32.9M | — | ||
| Q1 24 | $-44.6M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -325.2% | — | ||
| Q4 24 | -129.8% | — | ||
| Q3 24 | -140.2% | — | ||
| Q2 24 | -193.0% | — | ||
| Q1 24 | -250.0% | — |
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 1.2% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 3.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.54× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
