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Side-by-side financial comparison of IRONWOOD PHARMACEUTICALS INC (IRWD) and KKR Real Estate Finance Trust Inc. (KREF). Click either name above to swap in a different company.
IRONWOOD PHARMACEUTICALS INC is the larger business by last-quarter revenue ($47.7M vs $25.8M, roughly 1.8× KKR Real Estate Finance Trust Inc.). IRONWOOD PHARMACEUTICALS INC runs the higher net margin — -4.8% vs -101.7%, a 97.0% gap on every dollar of revenue. On growth, KKR Real Estate Finance Trust Inc. posted the faster year-over-year revenue change (-26.6% vs -47.3%). Over the past eight quarters, KKR Real Estate Finance Trust Inc.'s revenue compounded faster (-18.8% CAGR vs -20.2%).
Ironwood Pharmaceuticals, Inc. is a publicly traded pharmaceutical company. It was originally called Microbia, Inc.
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.
IRWD vs KREF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $47.7M | $25.8M |
| Net Profit | $-2.3M | $-26.2M |
| Gross Margin | — | — |
| Operating Margin | 14.3% | -105.1% |
| Net Margin | -4.8% | -101.7% |
| Revenue YoY | -47.3% | -26.6% |
| Net Profit YoY | -200.9% | -229.6% |
| EPS (diluted) | $0.01 | $-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 | $47.7M | $25.8M | ||
| Q3 25 | $122.1M | $25.3M | ||
| Q2 25 | $85.2M | $30.2M | ||
| Q1 25 | $41.1M | $31.3M | ||
| Q4 24 | $90.5M | $35.1M | ||
| Q3 24 | $91.6M | $37.0M | ||
| Q2 24 | $94.4M | $40.4M | ||
| Q1 24 | $74.9M | $39.1M |
| Q4 25 | $-2.3M | $-26.2M | ||
| Q3 25 | $40.1M | $13.8M | ||
| Q2 25 | $23.6M | $-29.7M | ||
| Q1 25 | $-37.4M | $-4.9M | ||
| Q4 24 | $2.3M | $20.3M | ||
| Q3 24 | $3.6M | $-7.4M | ||
| Q2 24 | $-860.0K | $25.8M | ||
| Q1 24 | $-4.2M | $-3.1M |
| Q4 25 | 14.3% | -105.1% | ||
| Q3 25 | 61.8% | 50.4% | ||
| Q2 25 | 53.2% | -101.3% | ||
| Q1 25 | -70.7% | -18.3% | ||
| Q4 24 | 34.8% | 55.8% | ||
| Q3 24 | 28.0% | -19.6% | ||
| Q2 24 | 26.5% | 63.3% | ||
| Q1 24 | 14.7% | -8.7% |
| Q4 25 | -4.8% | -101.7% | ||
| Q3 25 | 32.8% | 54.4% | ||
| Q2 25 | 27.7% | -98.5% | ||
| Q1 25 | -90.9% | -15.5% | ||
| Q4 24 | 2.5% | 57.7% | ||
| Q3 24 | 4.0% | -20.0% | ||
| Q2 24 | -0.9% | 63.9% | ||
| Q1 24 | -5.6% | -7.9% |
| Q4 25 | $0.01 | $-0.49 | ||
| Q3 25 | $0.23 | $0.12 | ||
| Q2 25 | $0.14 | $-0.53 | ||
| Q1 25 | $-0.23 | $-0.15 | ||
| Q4 24 | $0.03 | $0.22 | ||
| Q3 24 | $0.02 | $-0.19 | ||
| Q2 24 | $-0.01 | $0.29 | ||
| Q1 24 | $-0.03 | $-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 | $215.5M | $84.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-261.8M | $1.2B |
| Total Assets | $396.9M | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $215.5M | $84.6M | ||
| Q3 25 | $140.4M | $204.1M | ||
| Q2 25 | $92.9M | $107.7M | ||
| Q1 25 | $108.5M | $106.4M | ||
| Q4 24 | $88.6M | $104.9M | ||
| Q3 24 | $88.2M | $108.8M | ||
| Q2 24 | $105.5M | $107.2M | ||
| Q1 24 | $121.5M | $106.5M |
| Q4 25 | — | — | ||
| Q3 25 | $199.5M | — | ||
| Q2 25 | $199.3M | — | ||
| Q1 25 | $199.2M | — | ||
| Q4 24 | $199.0M | — | ||
| Q3 24 | $198.8M | — | ||
| Q2 24 | $198.6M | — | ||
| Q1 24 | $398.3M | — |
| Q4 25 | $-261.8M | $1.2B | ||
| Q3 25 | $-264.2M | $1.2B | ||
| Q2 25 | $-308.2M | $1.2B | ||
| Q1 25 | $-334.1M | $1.3B | ||
| Q4 24 | $-301.3M | $1.3B | ||
| Q3 24 | $-311.3M | $1.4B | ||
| Q2 24 | $-321.7M | $1.4B | ||
| Q1 24 | $-330.5M | $1.4B |
| Q4 25 | $396.9M | $6.5B | ||
| Q3 25 | $396.1M | $6.5B | ||
| Q2 25 | $342.9M | $6.8B | ||
| Q1 25 | $327.2M | $6.6B | ||
| Q4 24 | $350.9M | $6.4B | ||
| Q3 24 | $389.5M | $6.8B | ||
| Q2 24 | $395.6M | $7.1B | ||
| Q1 24 | $438.8M | $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 | $74.6M | $72.3M |
| Free Cash FlowOCF − Capex | $74.6M | — |
| FCF MarginFCF / Revenue | 156.3% | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $127.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $74.6M | $72.3M | ||
| Q3 25 | $47.6M | $18.5M | ||
| Q2 25 | $-15.1M | $21.1M | ||
| Q1 25 | $20.0M | $15.9M | ||
| Q4 24 | $15.2M | $132.6M | ||
| Q3 24 | $9.9M | $49.1M | ||
| Q2 24 | $33.5M | $30.6M | ||
| Q1 24 | $45.0M | $34.5M |
| Q4 25 | $74.6M | — | ||
| Q3 25 | $47.6M | — | ||
| Q2 25 | $-15.1M | — | ||
| Q1 25 | $19.9M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $9.9M | — | ||
| Q2 24 | $33.4M | — | ||
| Q1 24 | $44.9M | — |
| Q4 25 | 156.3% | — | ||
| Q3 25 | 39.0% | — | ||
| Q2 25 | -17.7% | — | ||
| Q1 25 | 48.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 10.8% | — | ||
| Q2 24 | 35.4% | — | ||
| Q1 24 | 60.0% | — |
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | 0.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | 1.19× | 1.34× | ||
| Q2 25 | -0.64× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.74× | 6.54× | ||
| Q3 24 | 2.71× | — | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
