vs
Side-by-side financial comparison of KKR Real Estate Finance Trust Inc. (KREF) and NEXTNRG, INC. (NXXT). 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× NEXTNRG, INC.). KKR Real Estate Finance Trust Inc. runs the higher net margin — -101.7% vs -116.1%, a 14.4% gap on every dollar of revenue. On growth, NEXTNRG, INC. posted the faster year-over-year revenue change (238.9% vs -26.6%). Over the past eight quarters, NEXTNRG, INC.'s revenue compounded faster (86.8% 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.
KREF vs NXXT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.8M | $23.0M |
| Net Profit | $-26.2M | $-26.7M |
| Gross Margin | — | 10.3% |
| Operating Margin | -105.1% | -107.2% |
| Net Margin | -101.7% | -116.1% |
| Revenue YoY | -26.6% | 238.9% |
| Net Profit YoY | -229.6% | -974.9% |
| EPS (diluted) | $-0.49 | $1.30 |
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 | $22.9M | ||
| Q2 25 | $30.2M | $19.7M | ||
| Q1 25 | $31.3M | $16.3M | ||
| Q4 24 | $35.1M | $6.8M | ||
| Q3 24 | $37.0M | $7.0M | ||
| Q2 24 | $40.4M | $7.4M | ||
| Q1 24 | $39.1M | $6.6M |
| Q4 25 | $-26.2M | $-26.7M | ||
| Q3 25 | $13.8M | $-14.1M | ||
| Q2 25 | $-29.7M | $-36.1M | ||
| Q1 25 | $-4.9M | $-8.8M | ||
| Q4 24 | $20.3M | $-2.5M | ||
| Q3 24 | $-7.4M | $-10.6M | ||
| Q2 24 | $25.8M | $-5.6M | ||
| Q1 24 | $-3.1M | $-2.7M |
| Q4 25 | — | 10.3% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | — | 8.0% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | — | 8.7% | ||
| Q2 24 | — | 7.4% | ||
| Q1 24 | — | 7.0% |
| Q4 25 | -105.1% | -107.2% | ||
| Q3 25 | 50.4% | -39.4% | ||
| Q2 25 | -101.3% | -156.2% | ||
| Q1 25 | -18.3% | -35.4% | ||
| Q4 24 | 55.8% | -62.8% | ||
| Q3 24 | -19.6% | -42.7% | ||
| Q2 24 | 63.3% | -35.2% | ||
| Q1 24 | -8.7% | -28.2% |
| Q4 25 | -101.7% | -116.1% | ||
| Q3 25 | 54.4% | -61.8% | ||
| Q2 25 | -98.5% | -183.3% | ||
| Q1 25 | -15.5% | -54.0% | ||
| Q4 24 | 57.7% | -36.6% | ||
| Q3 24 | -20.0% | -152.0% | ||
| Q2 24 | 63.9% | -76.0% | ||
| Q1 24 | -7.9% | -40.6% |
| Q4 25 | $-0.49 | $1.30 | ||
| Q3 25 | $0.12 | $-0.12 | ||
| Q2 25 | $-0.53 | $-0.30 | ||
| Q1 25 | $-0.15 | $-1.60 | ||
| Q4 24 | $0.22 | $-3.72 | ||
| Q3 24 | $-0.19 | $-0.71 | ||
| Q2 24 | $0.29 | $-0.06 | ||
| Q1 24 | $-0.13 | $-1.48 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $-19.7M |
| Total Assets | $6.5B | $11.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $84.6M | — | ||
| Q3 25 | $204.1M | — | ||
| Q2 25 | $107.7M | — | ||
| Q1 25 | $106.4M | — | ||
| Q4 24 | $104.9M | — | ||
| Q3 24 | $108.8M | — | ||
| Q2 24 | $107.2M | $306.8K | ||
| Q1 24 | $106.5M | $48.6K |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $9.2M | ||
| Q3 24 | — | $725.3K | ||
| Q2 24 | — | $8.8M | ||
| Q1 24 | — | $7.3M |
| Q4 25 | $1.2B | $-19.7M | ||
| Q3 25 | $1.2B | $-16.3M | ||
| Q2 25 | $1.2B | $-13.6M | ||
| Q1 25 | $1.3B | $-5.6M | ||
| Q4 24 | $1.3B | $-12.7M | ||
| Q3 24 | $1.4B | $3.6M | ||
| Q2 24 | $1.4B | $-4.8M | ||
| Q1 24 | $1.4B | $-3.3M |
| Q4 25 | $6.5B | $11.1M | ||
| Q3 25 | $6.5B | $19.6M | ||
| Q2 25 | $6.8B | $25.5M | ||
| Q1 25 | $6.6B | $26.0M | ||
| Q4 24 | $6.4B | $22.4M | ||
| Q3 24 | $6.8B | $5.6M | ||
| Q2 24 | $7.1B | $22.4M | ||
| Q1 24 | $7.3B | $5.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.20× | ||
| 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 | $-392.6K |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.3M | $-392.6K | ||
| Q3 25 | $18.5M | $-7.8M | ||
| Q2 25 | $21.1M | $-564.5K | ||
| Q1 25 | $15.9M | $-5.8M | ||
| Q4 24 | $132.6M | $-1.6M | ||
| Q3 24 | $49.1M | $3.6M | ||
| Q2 24 | $30.6M | $-7.0M | ||
| Q1 24 | $34.5M | $-1.4M |
| 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.
