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Side-by-side financial comparison of ALPHA PRO TECH LTD (APT) 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 $13.9M, roughly 1.9× ALPHA PRO TECH LTD). ALPHA PRO TECH LTD runs the higher net margin — 5.0% vs -101.7%, a 106.8% gap on every dollar of revenue. On growth, ALPHA PRO TECH LTD posted the faster year-over-year revenue change (0.3% vs -26.6%). Over the past eight quarters, ALPHA PRO TECH LTD's revenue compounded faster (1.4% CAGR vs -18.8%).
Alpha Pro Tech Ltd is a leading developer, manufacturer and marketer of disposable protective apparel, face masks, and building supply products including weather-resistant barriers. It primarily serves the healthcare, industrial, and construction sectors, with core operating markets concentrated in North America.
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.
APT vs KREF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.9M | $25.8M |
| Net Profit | $698.0K | $-26.2M |
| Gross Margin | 37.1% | — |
| Operating Margin | 6.9% | -105.1% |
| Net Margin | 5.0% | -101.7% |
| Revenue YoY | 0.3% | -26.6% |
| Net Profit YoY | -17.6% | -229.6% |
| EPS (diluted) | $0.06 | $-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 | $13.9M | $25.8M | ||
| Q3 25 | $14.8M | $25.3M | ||
| Q2 25 | $16.7M | $30.2M | ||
| Q1 25 | $13.8M | $31.3M | ||
| Q4 24 | $13.8M | $35.1M | ||
| Q3 24 | $14.3M | $37.0M | ||
| Q2 24 | $16.3M | $40.4M | ||
| Q1 24 | $13.5M | $39.1M |
| Q4 25 | $698.0K | $-26.2M | ||
| Q3 25 | $976.0K | $13.8M | ||
| Q2 25 | $1.2M | $-29.7M | ||
| Q1 25 | $613.0K | $-4.9M | ||
| Q4 24 | $847.0K | $20.3M | ||
| Q3 24 | $862.0K | $-7.4M | ||
| Q2 24 | $1.6M | $25.8M | ||
| Q1 24 | $576.0K | $-3.1M |
| Q4 25 | 37.1% | — | ||
| Q3 25 | 39.7% | — | ||
| Q2 25 | 36.8% | — | ||
| Q1 25 | 39.0% | — | ||
| Q4 24 | 37.6% | — | ||
| Q3 24 | 38.5% | — | ||
| Q2 24 | 42.0% | — | ||
| Q1 24 | 40.2% | — |
| Q4 25 | 6.9% | -105.1% | ||
| Q3 25 | 7.4% | 50.4% | ||
| Q2 25 | 8.0% | -101.3% | ||
| Q1 25 | 3.3% | -18.3% | ||
| Q4 24 | 4.9% | 55.8% | ||
| Q3 24 | 5.2% | -19.6% | ||
| Q2 24 | 10.5% | 63.3% | ||
| Q1 24 | 2.4% | -8.7% |
| Q4 25 | 5.0% | -101.7% | ||
| Q3 25 | 6.6% | 54.4% | ||
| Q2 25 | 7.5% | -98.5% | ||
| Q1 25 | 4.4% | -15.5% | ||
| Q4 24 | 6.1% | 57.7% | ||
| Q3 24 | 6.0% | -20.0% | ||
| Q2 24 | 10.1% | 63.9% | ||
| Q1 24 | 4.3% | -7.9% |
| Q4 25 | $0.06 | $-0.49 | ||
| Q3 25 | $0.09 | $0.12 | ||
| Q2 25 | $0.12 | $-0.53 | ||
| Q1 25 | $0.06 | $-0.15 | ||
| Q4 24 | $0.07 | $0.22 | ||
| Q3 24 | $0.08 | $-0.19 | ||
| Q2 24 | $0.15 | $0.29 | ||
| Q1 24 | $0.05 | $-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 | $17.0M | $84.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $62.5M | $1.2B |
| Total Assets | $74.1M | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $17.0M | $84.6M | ||
| Q3 25 | $17.7M | $204.1M | ||
| Q2 25 | $14.5M | $107.7M | ||
| Q1 25 | $13.4M | $106.4M | ||
| Q4 24 | $18.6M | $104.9M | ||
| Q3 24 | $18.4M | $108.8M | ||
| Q2 24 | $16.2M | $107.2M | ||
| Q1 24 | $18.5M | $106.5M |
| Q4 25 | $62.5M | $1.2B | ||
| Q3 25 | $62.5M | $1.2B | ||
| Q2 25 | $62.2M | $1.2B | ||
| Q1 25 | $61.7M | $1.3B | ||
| Q4 24 | $62.2M | $1.3B | ||
| Q3 24 | $62.1M | $1.4B | ||
| Q2 24 | $62.0M | $1.4B | ||
| Q1 24 | $61.6M | $1.4B |
| Q4 25 | $74.1M | $6.5B | ||
| Q3 25 | $73.9M | $6.5B | ||
| Q2 25 | $73.2M | $6.8B | ||
| Q1 25 | $72.2M | $6.6B | ||
| Q4 24 | $73.7M | $6.4B | ||
| Q3 24 | $73.3M | $6.8B | ||
| Q2 24 | $72.7M | $7.1B | ||
| Q1 24 | $72.7M | $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 | $318.0K | $72.3M |
| Free Cash FlowOCF − Capex | $51.0K | — |
| FCF MarginFCF / Revenue | 0.4% | — |
| Capex IntensityCapex / Revenue | 1.9% | — |
| Cash ConversionOCF / Net Profit | 0.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $318.0K | $72.3M | ||
| Q3 25 | $3.9M | $18.5M | ||
| Q2 25 | $2.1M | $21.1M | ||
| Q1 25 | $-4.0M | $15.9M | ||
| Q4 24 | $2.4M | $132.6M | ||
| Q3 24 | $5.3M | $49.1M | ||
| Q2 24 | $-873.0K | $30.6M | ||
| Q1 24 | $-1.2M | $34.5M |
| Q4 25 | $51.0K | — | ||
| Q3 25 | $3.8M | — | ||
| Q2 25 | $1.9M | — | ||
| Q1 25 | $-4.1M | — | ||
| Q4 24 | $970.0K | — | ||
| Q3 24 | $3.2M | — | ||
| Q2 24 | $-1.0M | — | ||
| Q1 24 | $-1.3M | — |
| Q4 25 | 0.4% | — | ||
| Q3 25 | 25.9% | — | ||
| Q2 25 | 11.7% | — | ||
| Q1 25 | -29.6% | — | ||
| Q4 24 | 7.0% | — | ||
| Q3 24 | 22.3% | — | ||
| Q2 24 | -6.2% | — | ||
| Q1 24 | -9.3% | — |
| Q4 25 | 1.9% | — | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 10.4% | — | ||
| Q3 24 | 15.1% | — | ||
| Q2 24 | 0.8% | — | ||
| Q1 24 | 0.6% | — |
| Q4 25 | 0.46× | — | ||
| Q3 25 | 4.02× | 1.34× | ||
| Q2 25 | 1.68× | — | ||
| Q1 25 | -6.46× | — | ||
| Q4 24 | 2.85× | 6.54× | ||
| Q3 24 | 6.18× | — | ||
| Q2 24 | -0.53× | 1.19× | ||
| Q1 24 | -2.03× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APT
| Other | $7.3M | 53% |
| Disposable Protective Apparel | $6.6M | 47% |
KREF
Segment breakdown not available.
