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Side-by-side financial comparison of KKR Real Estate Finance Trust Inc. (KREF) and MANNATECH INC (MTEX). Click either name above to swap in a different company.

MANNATECH INC is the larger business by last-quarter revenue ($29.2M vs $25.8M, roughly 1.1× KKR Real Estate Finance Trust Inc.). MANNATECH INC runs the higher net margin — 6.6% vs -101.7%, a 108.3% gap on every dollar of revenue. On growth, MANNATECH INC posted the faster year-over-year revenue change (-8.1% vs -26.6%). Over the past eight quarters, MANNATECH INC's revenue compounded faster (-5.4% CAGR vs -18.8%).

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.

Mannatech Inc. is a publicly traded, multinational multi-level marketing firm that sells dietary supplements and personal care products. It was founded in November 1993 by Samuel Caster, and is headquartered in Flower Mound, Texas. The company's stock is traded on the NASDAQ exchange under the symbol MTEX. As of 2017, Mannatech employed 252 people and sold its products through some 220,000 independent sales associates.

KREF vs MTEX — Head-to-Head

Bigger by revenue
MTEX
MTEX
1.1× larger
MTEX
$29.2M
$25.8M
KREF
Growing faster (revenue YoY)
MTEX
MTEX
+18.5% gap
MTEX
-8.1%
-26.6%
KREF
Higher net margin
MTEX
MTEX
108.3% more per $
MTEX
6.6%
-101.7%
KREF
Faster 2-yr revenue CAGR
MTEX
MTEX
Annualised
MTEX
-5.4%
-18.8%
KREF

Income Statement — Q4 FY2025 vs Q3 FY2025

Metric
KREF
KREF
MTEX
MTEX
Revenue
$25.8M
$29.2M
Net Profit
$-26.2M
$1.9M
Gross Margin
76.4%
Operating Margin
-105.1%
6.9%
Net Margin
-101.7%
6.6%
Revenue YoY
-26.6%
-8.1%
Net Profit YoY
-229.6%
686.6%
EPS (diluted)
$-0.49
$1.01

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.

Revenue
KREF
KREF
MTEX
MTEX
Q4 25
$25.8M
Q3 25
$25.3M
$29.2M
Q2 25
$30.2M
Q1 25
$31.3M
$26.6M
Q4 24
$35.1M
$29.0M
Q3 24
$37.0M
$31.7M
Q2 24
$40.4M
$27.7M
Q1 24
$39.1M
$29.4M
Net Profit
KREF
KREF
MTEX
MTEX
Q4 25
$-26.2M
Q3 25
$13.8M
$1.9M
Q2 25
$-29.7M
Q1 25
$-4.9M
$-1.5M
Q4 24
$20.3M
$2.3M
Q3 24
$-7.4M
$-328.0K
Q2 24
$25.8M
$-624.0K
Q1 24
$-3.1M
$1.2M
Gross Margin
KREF
KREF
MTEX
MTEX
Q4 25
Q3 25
76.4%
Q2 25
Q1 25
74.3%
Q4 24
80.6%
Q3 24
74.5%
Q2 24
77.1%
Q1 24
78.6%
Operating Margin
KREF
KREF
MTEX
MTEX
Q4 25
-105.1%
Q3 25
50.4%
6.9%
Q2 25
-101.3%
Q1 25
-18.3%
-3.1%
Q4 24
55.8%
3.0%
Q3 24
-19.6%
2.8%
Q2 24
63.3%
-4.1%
Q1 24
-8.7%
2.8%
Net Margin
KREF
KREF
MTEX
MTEX
Q4 25
-101.7%
Q3 25
54.4%
6.6%
Q2 25
-98.5%
Q1 25
-15.5%
-5.8%
Q4 24
57.7%
7.8%
Q3 24
-20.0%
-1.0%
Q2 24
63.9%
-2.2%
Q1 24
-7.9%
4.0%
EPS (diluted)
KREF
KREF
MTEX
MTEX
Q4 25
$-0.49
Q3 25
$0.12
$1.01
Q2 25
$-0.53
Q1 25
$-0.15
$-0.80
Q4 24
$0.22
$1.19
Q3 24
$-0.19
$-0.17
Q2 24
$0.29
$-0.33
Q1 24
$-0.13
$0.63

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
KREF
KREF
MTEX
MTEX
Cash + ST InvestmentsLiquidity on hand
$84.6M
$7.1M
Total DebtLower is stronger
$2.9M
Stockholders' EquityBook value
$1.2B
$7.0M
Total Assets
$6.5B
$33.9M
Debt / EquityLower = less leverage
0.42×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
KREF
KREF
MTEX
MTEX
Q4 25
$84.6M
Q3 25
$204.1M
$7.1M
Q2 25
$107.7M
Q1 25
$106.4M
$9.3M
Q4 24
$104.9M
$11.4M
Q3 24
$108.8M
$12.2M
Q2 24
$107.2M
$9.2M
Q1 24
$106.5M
$7.9M
Total Debt
KREF
KREF
MTEX
MTEX
Q4 25
Q3 25
$2.9M
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Stockholders' Equity
KREF
KREF
MTEX
MTEX
Q4 25
$1.2B
Q3 25
$1.2B
$7.0M
Q2 25
$1.2B
Q1 25
$1.3B
$7.6M
Q4 24
$1.3B
$8.6M
Q3 24
$1.4B
$10.0M
Q2 24
$1.4B
$8.2M
Q1 24
$1.4B
$10.4M
Total Assets
KREF
KREF
MTEX
MTEX
Q4 25
$6.5B
Q3 25
$6.5B
$33.9M
Q2 25
$6.8B
Q1 25
$6.6B
$36.7M
Q4 24
$6.4B
$36.1M
Q3 24
$6.8B
$40.6M
Q2 24
$7.1B
$39.9M
Q1 24
$7.3B
$41.1M
Debt / Equity
KREF
KREF
MTEX
MTEX
Q4 25
Q3 25
0.42×
Q2 25
Q1 25
Q4 24
Q3 24
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
KREF
KREF
MTEX
MTEX
Operating Cash FlowLast quarter
$72.3M
$-1.3M
Free Cash FlowOCF − Capex
$-2.0M
FCF MarginFCF / Revenue
-6.8%
Capex IntensityCapex / Revenue
2.4%
Cash ConversionOCF / Net Profit
-0.68×
TTM Free Cash FlowTrailing 4 quarters
$-1.2M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
KREF
KREF
MTEX
MTEX
Q4 25
$72.3M
Q3 25
$18.5M
$-1.3M
Q2 25
$21.1M
Q1 25
$15.9M
$-1.4M
Q4 24
$132.6M
$-219.0K
Q3 24
$49.1M
$3.3M
Q2 24
$30.6M
$-2.7M
Q1 24
$34.5M
$1.9M
Free Cash Flow
KREF
KREF
MTEX
MTEX
Q4 25
Q3 25
$-2.0M
Q2 25
Q1 25
$-1.9M
Q4 24
$-325.0K
Q3 24
$3.0M
Q2 24
$-2.7M
Q1 24
$1.8M
FCF Margin
KREF
KREF
MTEX
MTEX
Q4 25
Q3 25
-6.8%
Q2 25
Q1 25
-7.0%
Q4 24
-1.1%
Q3 24
9.5%
Q2 24
-9.9%
Q1 24
6.2%
Capex Intensity
KREF
KREF
MTEX
MTEX
Q4 25
Q3 25
2.4%
Q2 25
Q1 25
1.8%
Q4 24
0.4%
Q3 24
0.8%
Q2 24
0.3%
Q1 24
0.2%
Cash Conversion
KREF
KREF
MTEX
MTEX
Q4 25
Q3 25
1.34×
-0.68×
Q2 25
Q1 25
Q4 24
6.54×
-0.10×
Q3 24
Q2 24
1.19×
Q1 24
1.59×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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