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Side-by-side financial comparison of KKR Real Estate Finance Trust Inc. (KREF) and Legacy Education Inc. (LGCY). 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 $19.2M, roughly 1.3× Legacy Education Inc.). Legacy Education Inc. runs the higher net margin — 10.6% vs -101.7%, a 112.4% gap on every dollar of revenue. On growth, Legacy Education Inc. posted the faster year-over-year revenue change (40.7% vs -26.6%).
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.
Legacy Education Inc. is a professional educational service provider focused on financial literacy, real estate investment, entrepreneurship, and personal wealth management training programs. It mainly serves individual learners across North America, Europe and select Asia-Pacific markets, offering both in-person workshops and online digital courses to help users build practical financial and business skills.
KREF vs LGCY — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $25.8M | $19.2M |
| Net Profit | $-26.2M | $2.0M |
| Gross Margin | — | — |
| Operating Margin | -105.1% | 13.3% |
| Net Margin | -101.7% | 10.6% |
| Revenue YoY | -26.6% | 40.7% |
| Net Profit YoY | -229.6% | 46.0% |
| EPS (diluted) | $-0.49 | $0.15 |
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 | $25.8M | $19.2M | ||
| Q3 25 | $25.3M | $19.4M | ||
| Q2 25 | $30.2M | $18.0M | ||
| Q1 25 | $31.3M | $18.6M | ||
| Q4 24 | $35.1M | $13.6M | ||
| Q3 24 | $37.0M | $14.0M | ||
| Q2 24 | $40.4M | — | ||
| Q1 24 | $39.1M | — |
| Q4 25 | $-26.2M | $2.0M | ||
| Q3 25 | $13.8M | $2.2M | ||
| Q2 25 | $-29.7M | $1.2M | ||
| Q1 25 | $-4.9M | $2.8M | ||
| Q4 24 | $20.3M | $1.4M | ||
| Q3 24 | $-7.4M | $2.1M | ||
| Q2 24 | $25.8M | — | ||
| Q1 24 | $-3.1M | — |
| Q4 25 | -105.1% | 13.3% | ||
| Q3 25 | 50.4% | 13.9% | ||
| Q2 25 | -101.3% | 11.1% | ||
| Q1 25 | -18.3% | 19.7% | ||
| Q4 24 | 55.8% | 12.2% | ||
| Q3 24 | -19.6% | 19.1% | ||
| Q2 24 | 63.3% | — | ||
| Q1 24 | -8.7% | — |
| Q4 25 | -101.7% | 10.6% | ||
| Q3 25 | 54.4% | 11.3% | ||
| Q2 25 | -98.5% | 6.8% | ||
| Q1 25 | -15.5% | 15.2% | ||
| Q4 24 | 57.7% | 10.3% | ||
| Q3 24 | -20.0% | 14.9% | ||
| Q2 24 | 63.9% | — | ||
| Q1 24 | -7.9% | — |
| Q4 25 | $-0.49 | $0.15 | ||
| Q3 25 | $0.12 | $0.16 | ||
| Q2 25 | $-0.53 | $0.07 | ||
| Q1 25 | $-0.15 | $0.21 | ||
| Q4 24 | $0.22 | $0.10 | ||
| Q3 24 | $-0.19 | $0.21 | ||
| 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 | $84.6M | $21.1M |
| Total DebtLower is stronger | — | $660.3K |
| Stockholders' EquityBook value | $1.2B | $46.1M |
| Total Assets | $6.5B | $73.1M |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $84.6M | $21.1M | ||
| Q3 25 | $204.1M | $20.6M | ||
| Q2 25 | $107.7M | $20.3M | ||
| Q1 25 | $106.4M | $17.3M | ||
| Q4 24 | $104.9M | $16.9M | ||
| Q3 24 | $108.8M | $21.5M | ||
| Q2 24 | $107.2M | — | ||
| Q1 24 | $106.5M | — |
| Q4 25 | — | $660.3K | ||
| Q3 25 | — | $776.9K | ||
| Q2 25 | — | $1.4M | ||
| Q1 25 | — | $1.0M | ||
| Q4 24 | — | $1.1M | ||
| Q3 24 | — | $758.2K | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.2B | $46.1M | ||
| Q3 25 | $1.2B | $43.7M | ||
| Q2 25 | $1.2B | $41.0M | ||
| Q1 25 | $1.3B | $39.3M | ||
| Q4 24 | $1.3B | $36.4M | ||
| Q3 24 | $1.4B | $32.6M | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $6.5B | $73.1M | ||
| Q3 25 | $6.5B | $72.1M | ||
| Q2 25 | $6.8B | $69.2M | ||
| Q1 25 | $6.6B | $67.1M | ||
| Q4 24 | $6.4B | $62.1M | ||
| Q3 24 | $6.8B | $50.6M | ||
| Q2 24 | $7.1B | — | ||
| Q1 24 | $7.3B | — |
| Q4 25 | — | 0.01× | ||
| Q3 25 | — | 0.02× | ||
| Q2 25 | — | 0.03× | ||
| Q1 25 | — | 0.03× | ||
| Q4 24 | — | 0.03× | ||
| Q3 24 | — | 0.02× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $72.3M | $1.1M |
| Free Cash FlowOCF − Capex | — | $512.7K |
| FCF MarginFCF / Revenue | — | 2.7% |
| Capex IntensityCapex / Revenue | — | 2.8% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | — | $4.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.3M | $1.1M | ||
| Q3 25 | $18.5M | $1.1M | ||
| Q2 25 | $21.1M | $3.0M | ||
| Q1 25 | $15.9M | $918.7K | ||
| Q4 24 | $132.6M | $659.0K | ||
| Q3 24 | $49.1M | $3.2M | ||
| Q2 24 | $30.6M | — | ||
| Q1 24 | $34.5M | — |
| Q4 25 | — | $512.7K | ||
| Q3 25 | — | $809.7K | ||
| Q2 25 | — | $2.9M | ||
| Q1 25 | — | $596.6K | ||
| Q4 24 | — | $466.8K | ||
| Q3 24 | — | $2.9M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | 4.2% | ||
| Q2 25 | — | 16.2% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | — | 21.1% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 2.8% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.52× | ||
| Q3 25 | 1.34× | 0.48× | ||
| Q2 25 | — | 2.45× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | 6.54× | 0.47× | ||
| Q3 24 | — | 1.52× | ||
| Q2 24 | 1.19× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
