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Side-by-side financial comparison of AVALON HOLDINGS CORP (AWX) 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 $21.5M, roughly 1.2× AVALON HOLDINGS CORP). AVALON HOLDINGS CORP runs the higher net margin — -1.7% vs -101.7%, a 100.1% gap on every dollar of revenue. On growth, AVALON HOLDINGS CORP posted the faster year-over-year revenue change (21.7% vs -26.6%). Over the past eight quarters, AVALON HOLDINGS CORP's revenue compounded faster (6.7% CAGR vs -18.8%).
Avalon Hill Games Inc. is a game company that publishes wargames and strategic board games. It has also published miniature wargaming rules, role-playing games and sports simulations. It is a subsidiary of Hasbro, and operates under the company's "Hasbro Gaming" division.
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.
AWX vs KREF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.5M | $25.8M |
| Net Profit | $-356.0K | $-26.2M |
| Gross Margin | 17.1% | — |
| Operating Margin | 0.4% | -105.1% |
| Net Margin | -1.7% | -101.7% |
| Revenue YoY | 21.7% | -26.6% |
| Net Profit YoY | 28.4% | -229.6% |
| EPS (diluted) | — | $-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 | $21.5M | $25.8M | ||
| Q3 25 | $25.7M | $25.3M | ||
| Q2 25 | $20.3M | $30.2M | ||
| Q1 25 | $16.1M | $31.3M | ||
| Q4 24 | $17.6M | $35.1M | ||
| Q3 24 | $24.2M | $37.0M | ||
| Q2 24 | $23.1M | $40.4M | ||
| Q1 24 | $18.9M | $39.1M |
| Q4 25 | $-356.0K | $-26.2M | ||
| Q3 25 | $1.9M | $13.8M | ||
| Q2 25 | $274.0K | $-29.7M | ||
| Q1 25 | $-1.5M | $-4.9M | ||
| Q4 24 | $-497.0K | $20.3M | ||
| Q3 24 | $1.8M | $-7.4M | ||
| Q2 24 | $954.0K | $25.8M | ||
| Q1 24 | $-979.0K | $-3.1M |
| Q4 25 | 17.1% | — | ||
| Q3 25 | 23.7% | — | ||
| Q2 25 | 20.6% | — | ||
| Q1 25 | 14.8% | — | ||
| Q4 24 | 17.5% | — | ||
| Q3 24 | 24.6% | — | ||
| Q2 24 | 22.1% | — | ||
| Q1 24 | 16.2% | — |
| Q4 25 | 0.4% | -105.1% | ||
| Q3 25 | 9.1% | 50.4% | ||
| Q2 25 | 3.7% | -101.3% | ||
| Q1 25 | -7.2% | -18.3% | ||
| Q4 24 | -0.8% | 55.8% | ||
| Q3 24 | 9.4% | -19.6% | ||
| Q2 24 | 6.3% | 63.3% | ||
| Q1 24 | -2.7% | -8.7% |
| Q4 25 | -1.7% | -101.7% | ||
| Q3 25 | 7.4% | 54.4% | ||
| Q2 25 | 1.4% | -98.5% | ||
| Q1 25 | -9.3% | -15.5% | ||
| Q4 24 | -2.8% | 57.7% | ||
| Q3 24 | 7.6% | -20.0% | ||
| Q2 24 | 4.1% | 63.9% | ||
| Q1 24 | -5.2% | -7.9% |
| Q4 25 | — | $-0.49 | ||
| Q3 25 | — | $0.12 | ||
| Q2 25 | — | $-0.53 | ||
| Q1 25 | — | $-0.15 | ||
| Q4 24 | — | $0.22 | ||
| Q3 24 | — | $-0.19 | ||
| Q2 24 | — | $0.29 | ||
| Q1 24 | — | $-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 | $4.1M | $84.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $38.4M | $1.2B |
| Total Assets | $87.4M | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.1M | $84.6M | ||
| Q3 25 | $4.6M | $204.1M | ||
| Q2 25 | $3.7M | $107.7M | ||
| Q1 25 | $1.3M | $106.4M | ||
| Q4 24 | $2.8M | $104.9M | ||
| Q3 24 | $3.9M | $108.8M | ||
| Q2 24 | $3.8M | $107.2M | ||
| Q1 24 | $1.2M | $106.5M |
| Q4 25 | $38.4M | $1.2B | ||
| Q3 25 | $38.7M | $1.2B | ||
| Q2 25 | $36.8M | $1.2B | ||
| Q1 25 | $36.5M | $1.3B | ||
| Q4 24 | $38.0M | $1.3B | ||
| Q3 24 | $38.5M | $1.4B | ||
| Q2 24 | $36.7M | $1.4B | ||
| Q1 24 | $35.7M | $1.4B |
| Q4 25 | $87.4M | $6.5B | ||
| Q3 25 | $90.7M | $6.5B | ||
| Q2 25 | $88.1M | $6.8B | ||
| Q1 25 | $87.6M | $6.6B | ||
| Q4 24 | $86.2M | $6.4B | ||
| Q3 24 | $89.1M | $6.8B | ||
| Q2 24 | $91.7M | $7.1B | ||
| Q1 24 | $90.6M | $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 | $278.0K | $72.3M |
| Free Cash FlowOCF − Capex | $-166.0K | — |
| FCF MarginFCF / Revenue | -0.8% | — |
| Capex IntensityCapex / Revenue | 2.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $2.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $278.0K | $72.3M | ||
| Q3 25 | $1.5M | $18.5M | ||
| Q2 25 | $3.0M | $21.1M | ||
| Q1 25 | $-982.0K | $15.9M | ||
| Q4 24 | $-579.0K | $132.6M | ||
| Q3 24 | $342.0K | $49.1M | ||
| Q2 24 | $3.2M | $30.6M | ||
| Q1 24 | $411.0K | $34.5M |
| Q4 25 | $-166.0K | — | ||
| Q3 25 | $852.0K | — | ||
| Q2 25 | $2.7M | — | ||
| Q1 25 | $-1.4M | — | ||
| Q4 24 | $-1.1M | — | ||
| Q3 24 | $-660.0K | — | ||
| Q2 24 | $2.9M | — | ||
| Q1 24 | $56.0K | — |
| Q4 25 | -0.8% | — | ||
| Q3 25 | 3.3% | — | ||
| Q2 25 | 13.5% | — | ||
| Q1 25 | -8.5% | — | ||
| Q4 24 | -6.4% | — | ||
| Q3 24 | -2.7% | — | ||
| Q2 24 | 12.4% | — | ||
| Q1 24 | 0.3% | — |
| Q4 25 | 2.1% | — | ||
| Q3 25 | 2.3% | — | ||
| Q2 25 | 1.4% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 3.1% | — | ||
| Q3 24 | 4.1% | — | ||
| Q2 24 | 1.5% | — | ||
| Q1 24 | 1.9% | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.76× | 1.34× | ||
| Q2 25 | 11.07× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.54× | ||
| Q3 24 | 0.19× | — | ||
| Q2 24 | 3.35× | 1.19× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
