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Side-by-side financial comparison of FREQUENCY ELECTRONICS INC (FEIM) 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 $17.1M, roughly 1.5× FREQUENCY ELECTRONICS INC). FREQUENCY ELECTRONICS INC runs the higher net margin — 10.5% vs -101.7%, a 112.3% gap on every dollar of revenue. On growth, FREQUENCY ELECTRONICS INC posted the faster year-over-year revenue change (8.3% vs -26.6%). Over the past eight quarters, FREQUENCY ELECTRONICS INC's revenue compounded faster (11.8% CAGR vs -18.8%).
Ultra Electronics Holdings is a British defence and security company. It was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index until it was acquired by Cobham, which is itself owned by Advent International.
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.
FEIM vs KREF — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $17.1M | $25.8M |
| Net Profit | $1.8M | $-26.2M |
| Gross Margin | 38.2% | — |
| Operating Margin | 10.0% | -105.1% |
| Net Margin | 10.5% | -101.7% |
| Revenue YoY | 8.3% | -26.6% |
| Net Profit YoY | -32.1% | -229.6% |
| EPS (diluted) | $0.18 | $-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 | $17.1M | $25.8M | ||
| Q3 25 | $13.8M | $25.3M | ||
| Q2 25 | $20.0M | $30.2M | ||
| Q1 25 | $18.9M | $31.3M | ||
| Q4 24 | $15.8M | $35.1M | ||
| Q3 24 | $15.1M | $37.0M | ||
| Q2 24 | $15.6M | $40.4M | ||
| Q1 24 | $13.7M | $39.1M |
| Q4 25 | $1.8M | $-26.2M | ||
| Q3 25 | $634.0K | $13.8M | ||
| Q2 25 | $3.2M | $-29.7M | ||
| Q1 25 | $15.4M | $-4.9M | ||
| Q4 24 | $2.7M | $20.3M | ||
| Q3 24 | $2.4M | $-7.4M | ||
| Q2 24 | $2.6M | $25.8M | ||
| Q1 24 | $130.0K | $-3.1M |
| Q4 25 | 38.2% | — | ||
| Q3 25 | 36.8% | — | ||
| Q2 25 | 37.5% | — | ||
| Q1 25 | 43.8% | — | ||
| Q4 24 | 48.2% | — | ||
| Q3 24 | 44.4% | — | ||
| Q2 24 | 40.3% | — | ||
| Q1 24 | 22.6% | — |
| Q4 25 | 10.0% | -105.1% | ||
| Q3 25 | 2.6% | 50.4% | ||
| Q2 25 | 16.4% | -101.3% | ||
| Q1 25 | 18.3% | -18.3% | ||
| Q4 24 | 16.5% | 55.8% | ||
| Q3 24 | 15.7% | -19.6% | ||
| Q2 24 | 16.0% | 63.3% | ||
| Q1 24 | -3.4% | -8.7% |
| Q4 25 | 10.5% | -101.7% | ||
| Q3 25 | 4.6% | 54.4% | ||
| Q2 25 | 16.0% | -98.5% | ||
| Q1 25 | 81.4% | -15.5% | ||
| Q4 24 | 16.8% | 57.7% | ||
| Q3 24 | 16.1% | -20.0% | ||
| Q2 24 | 16.9% | 63.9% | ||
| Q1 24 | 0.9% | -7.9% |
| Q4 25 | $0.18 | $-0.49 | ||
| Q3 25 | $0.07 | $0.12 | ||
| Q2 25 | $0.33 | $-0.53 | ||
| Q1 25 | $1.60 | $-0.15 | ||
| Q4 24 | $0.28 | $0.22 | ||
| Q3 24 | $0.25 | $-0.19 | ||
| Q2 24 | $0.28 | $0.29 | ||
| Q1 24 | $0.01 | $-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 | $3.0M | $84.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $58.5M | $1.2B |
| Total Assets | $92.3M | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0M | $84.6M | ||
| Q3 25 | $4.5M | $204.1M | ||
| Q2 25 | $4.7M | $107.7M | ||
| Q1 25 | $5.5M | $106.4M | ||
| Q4 24 | $9.7M | $104.9M | ||
| Q3 24 | $16.2M | $108.8M | ||
| Q2 24 | $18.3M | $107.2M | ||
| Q1 24 | $11.7M | $106.5M |
| Q4 25 | $58.5M | $1.2B | ||
| Q3 25 | $56.3M | $1.2B | ||
| Q2 25 | $55.6M | $1.2B | ||
| Q1 25 | $51.8M | $1.3B | ||
| Q4 24 | $36.2M | $1.3B | ||
| Q3 24 | $33.2M | $1.4B | ||
| Q2 24 | $39.8M | $1.4B | ||
| Q1 24 | $36.7M | $1.4B |
| Q4 25 | $92.3M | $6.5B | ||
| Q3 25 | $93.2M | $6.5B | ||
| Q2 25 | $93.7M | $6.8B | ||
| Q1 25 | $86.4M | $6.6B | ||
| Q4 24 | $77.8M | $6.4B | ||
| Q3 24 | $84.3M | $6.8B | ||
| Q2 24 | $83.3M | $7.1B | ||
| Q1 24 | $77.7M | $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 | $-523.0K | $72.3M |
| Free Cash FlowOCF − Capex | $-1.1M | — |
| FCF MarginFCF / Revenue | -6.6% | — |
| Capex IntensityCapex / Revenue | 3.6% | — |
| Cash ConversionOCF / Net Profit | -0.29× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-5.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-523.0K | $72.3M | ||
| Q3 25 | $1.2M | $18.5M | ||
| Q2 25 | $-155.0K | $21.1M | ||
| Q1 25 | $-3.6M | $15.9M | ||
| Q4 24 | $3.8M | $132.6M | ||
| Q3 24 | $-1.5M | $49.1M | ||
| Q2 24 | $7.5M | $30.6M | ||
| Q1 24 | $4.2M | $34.5M |
| Q4 25 | $-1.1M | — | ||
| Q3 25 | $385.0K | — | ||
| Q2 25 | $-786.0K | — | ||
| Q1 25 | $-4.0M | — | ||
| Q4 24 | $3.3M | — | ||
| Q3 24 | $-1.8M | — | ||
| Q2 24 | $6.7M | — | ||
| Q1 24 | $3.9M | — |
| Q4 25 | -6.6% | — | ||
| Q3 25 | 2.8% | — | ||
| Q2 25 | -3.9% | — | ||
| Q1 25 | -20.9% | — | ||
| Q4 24 | 20.8% | — | ||
| Q3 24 | -11.8% | — | ||
| Q2 24 | 42.8% | — | ||
| Q1 24 | 28.4% | — |
| Q4 25 | 3.6% | — | ||
| Q3 25 | 5.6% | — | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 3.3% | — | ||
| Q3 24 | 2.2% | — | ||
| Q2 24 | 5.3% | — | ||
| Q1 24 | 2.3% | — |
| Q4 25 | -0.29× | — | ||
| Q3 25 | 1.83× | 1.34× | ||
| Q2 25 | -0.05× | — | ||
| Q1 25 | -0.24× | — | ||
| Q4 24 | 1.44× | 6.54× | ||
| Q3 24 | -0.60× | — | ||
| Q2 24 | 2.85× | 1.19× | ||
| Q1 24 | 32.36× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FEIM
| POC Revenue | $14.8M | 86% |
| POT Revenue | $2.3M | 13% |
KREF
Segment breakdown not available.
