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Side-by-side financial comparison of KKR Real Estate Finance Trust Inc. (KREF) and Intellia Therapeutics, Inc. (NTLA). 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 $23.0M, roughly 1.1× Intellia Therapeutics, Inc.). KKR Real Estate Finance Trust Inc. runs the higher net margin — -101.7% vs -416.2%, a 314.4% gap on every dollar of revenue. On growth, Intellia Therapeutics, Inc. posted the faster year-over-year revenue change (78.8% vs -26.6%). Over the past eight quarters, Intellia Therapeutics, Inc.'s revenue compounded faster (-10.8% 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.
Intellia Therapeutics, Inc. is an American clinical-stage biotechnology company focused on developing novel, potentially curative therapeutics leveraging CRISPR-based technologies. The company's in vivo programs use intravenously administered CRISPR as the therapy, in which the company's proprietary delivery technology enables highly precise editing of disease-causing genes directly within specific target tissues. Intellia's ex vivo programs use CRISPR to create the therapy by using engineere...
KREF vs NTLA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.8M | $23.0M |
| Net Profit | $-26.2M | $-95.8M |
| Gross Margin | — | — |
| Operating Margin | -105.1% | -428.9% |
| Net Margin | -101.7% | -416.2% |
| Revenue YoY | -26.6% | 78.8% |
| Net Profit YoY | -229.6% | 25.7% |
| EPS (diluted) | $-0.49 | $-0.81 |
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 | $23.0M | ||
| Q3 25 | $25.3M | $13.8M | ||
| Q2 25 | $30.2M | $14.2M | ||
| Q1 25 | $31.3M | $16.6M | ||
| Q4 24 | $35.1M | $12.9M | ||
| Q3 24 | $37.0M | $9.1M | ||
| Q2 24 | $40.4M | $7.0M | ||
| Q1 24 | $39.1M | $28.9M |
| Q4 25 | $-26.2M | $-95.8M | ||
| Q3 25 | $13.8M | $-101.3M | ||
| Q2 25 | $-29.7M | $-101.3M | ||
| Q1 25 | $-4.9M | $-114.3M | ||
| Q4 24 | $20.3M | $-128.9M | ||
| Q3 24 | $-7.4M | $-135.7M | ||
| Q2 24 | $25.8M | $-147.0M | ||
| Q1 24 | $-3.1M | $-107.4M |
| Q4 25 | -105.1% | -428.9% | ||
| Q3 25 | 50.4% | -808.9% | ||
| Q2 25 | -101.3% | -772.2% | ||
| Q1 25 | -18.3% | -726.6% | ||
| Q4 24 | 55.8% | -1059.9% | ||
| Q3 24 | -19.6% | -1589.0% | ||
| Q2 24 | 63.3% | -1998.6% | ||
| Q1 24 | -8.7% | -394.0% |
| Q4 25 | -101.7% | -416.2% | ||
| Q3 25 | 54.4% | -735.2% | ||
| Q2 25 | -98.5% | -710.8% | ||
| Q1 25 | -15.5% | -687.6% | ||
| Q4 24 | 57.7% | -1001.2% | ||
| Q3 24 | -20.0% | -1489.5% | ||
| Q2 24 | 63.9% | -2112.6% | ||
| Q1 24 | -7.9% | -371.3% |
| Q4 25 | $-0.49 | $-0.81 | ||
| Q3 25 | $0.12 | $-0.92 | ||
| Q2 25 | $-0.53 | $-0.98 | ||
| Q1 25 | $-0.15 | $-1.10 | ||
| Q4 24 | $0.22 | $-1.27 | ||
| Q3 24 | $-0.19 | $-1.34 | ||
| Q2 24 | $0.29 | $-1.52 | ||
| Q1 24 | $-0.13 | $-1.12 |
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 | $449.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $671.4M |
| Total Assets | $6.5B | $842.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $84.6M | $449.9M | ||
| Q3 25 | $204.1M | $511.0M | ||
| Q2 25 | $107.7M | $459.7M | ||
| Q1 25 | $106.4M | $503.7M | ||
| Q4 24 | $104.9M | $601.5M | ||
| Q3 24 | $108.8M | $658.1M | ||
| Q2 24 | $107.2M | $691.1M | ||
| Q1 24 | $106.5M | $791.3M |
| Q4 25 | $1.2B | $671.4M | ||
| Q3 25 | $1.2B | $748.4M | ||
| Q2 25 | $1.2B | $715.3M | ||
| Q1 25 | $1.3B | $779.9M | ||
| Q4 24 | $1.3B | $872.0M | ||
| Q3 24 | $1.4B | $962.6M | ||
| Q2 24 | $1.4B | $971.1M | ||
| Q1 24 | $1.4B | $1.0B |
| Q4 25 | $6.5B | $842.1M | ||
| Q3 25 | $6.5B | $925.3M | ||
| Q2 25 | $6.8B | $898.9M | ||
| Q1 25 | $6.6B | $986.2M | ||
| Q4 24 | $6.4B | $1.2B | ||
| Q3 24 | $6.8B | $1.2B | ||
| Q2 24 | $7.1B | $1.2B | ||
| Q1 24 | $7.3B | $1.3B |
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 | $72.3M | $-69.3M |
| Free Cash FlowOCF − Capex | — | $-69.4M |
| FCF MarginFCF / Revenue | — | -301.6% |
| Capex IntensityCapex / Revenue | — | 0.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-395.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.3M | $-69.3M | ||
| Q3 25 | $18.5M | $-76.9M | ||
| Q2 25 | $21.1M | $-99.6M | ||
| Q1 25 | $15.9M | $-148.9M | ||
| Q4 24 | $132.6M | $-85.2M | ||
| Q3 24 | $49.1M | $-84.8M | ||
| Q2 24 | $30.6M | $-58.2M | ||
| Q1 24 | $34.5M | $-120.7M |
| Q4 25 | — | $-69.4M | ||
| Q3 25 | — | $-76.9M | ||
| Q2 25 | — | $-99.9M | ||
| Q1 25 | — | $-149.7M | ||
| Q4 24 | — | $-86.2M | ||
| Q3 24 | — | $-86.1M | ||
| Q2 24 | — | $-59.2M | ||
| Q1 24 | — | $-123.2M |
| Q4 25 | — | -301.6% | ||
| Q3 25 | — | -558.2% | ||
| Q2 25 | — | -701.0% | ||
| Q1 25 | — | -900.1% | ||
| Q4 24 | — | -669.4% | ||
| Q3 24 | — | -945.2% | ||
| Q2 24 | — | -850.9% | ||
| Q1 24 | — | -425.7% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 1.7% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | — | 7.6% | ||
| Q3 24 | — | 14.0% | ||
| Q2 24 | — | 14.5% | ||
| Q1 24 | — | 8.7% |
| Q4 25 | — | — | ||
| Q3 25 | 1.34× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.54× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.19× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KREF
Segment breakdown not available.
NTLA
| Avencell Therapeutics Inc | $21.0M | 91% |
| Other | $1.0M | 4% |
| Avencell | $1.0M | 4% |
