vs
Side-by-side financial comparison of KKR Real Estate Finance Trust Inc. (KREF) and Performance Shipping Inc. (PSHG). Click either name above to swap in a different company.
Performance Shipping Inc. is the larger business by last-quarter revenue ($39.5M vs $25.8M, roughly 1.5× KKR Real Estate Finance Trust Inc.). Performance Shipping Inc. runs the higher net margin — 97.5% vs -101.7%, a 199.3% gap on every dollar of revenue. On growth, Performance Shipping Inc. posted the faster year-over-year revenue change (-7.9% 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.
Azerbaijan Caspian Shipping Closed Joint-Stock Company is a state-owned Azerbaijani shipping company. It is also known by its Russian-derived abbreviation CASPAR.
KREF vs PSHG — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.8M | $39.5M |
| Net Profit | $-26.2M | $38.5M |
| Gross Margin | — | — |
| Operating Margin | -105.1% | 93.3% |
| Net Margin | -101.7% | 97.5% |
| Revenue YoY | -26.6% | -7.9% |
| Net Profit YoY | -229.6% | 78.1% |
| EPS (diluted) | $-0.49 | $1.00 |
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 | — | ||
| Q3 25 | $25.3M | — | ||
| Q2 25 | $30.2M | $39.5M | ||
| Q1 25 | $31.3M | — | ||
| Q4 24 | $35.1M | — | ||
| Q3 24 | $37.0M | — | ||
| Q2 24 | $40.4M | $42.9M | ||
| Q1 24 | $39.1M | — |
| Q4 25 | $-26.2M | — | ||
| Q3 25 | $13.8M | — | ||
| Q2 25 | $-29.7M | $38.5M | ||
| Q1 25 | $-4.9M | — | ||
| Q4 24 | $20.3M | — | ||
| Q3 24 | $-7.4M | — | ||
| Q2 24 | $25.8M | $21.6M | ||
| Q1 24 | $-3.1M | — |
| Q4 25 | -105.1% | — | ||
| Q3 25 | 50.4% | — | ||
| Q2 25 | -101.3% | 93.3% | ||
| Q1 25 | -18.3% | — | ||
| Q4 24 | 55.8% | — | ||
| Q3 24 | -19.6% | — | ||
| Q2 24 | 63.3% | 49.1% | ||
| Q1 24 | -8.7% | — |
| Q4 25 | -101.7% | — | ||
| Q3 25 | 54.4% | — | ||
| Q2 25 | -98.5% | 97.5% | ||
| Q1 25 | -15.5% | — | ||
| Q4 24 | 57.7% | — | ||
| Q3 24 | -20.0% | — | ||
| Q2 24 | 63.9% | 50.4% | ||
| Q1 24 | -7.9% | — |
| Q4 25 | $-0.49 | — | ||
| Q3 25 | $0.12 | — | ||
| Q2 25 | $-0.53 | $1.00 | ||
| Q1 25 | $-0.15 | — | ||
| Q4 24 | $0.22 | — | ||
| Q3 24 | $-0.19 | — | ||
| Q2 24 | $0.29 | $0.55 | ||
| 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 | $95.8M |
| Total DebtLower is stronger | — | $43.7M |
| Stockholders' EquityBook value | $1.2B | $312.8M |
| Total Assets | $6.5B | $363.8M |
| Debt / EquityLower = less leverage | — | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $84.6M | — | ||
| Q3 25 | $204.1M | — | ||
| Q2 25 | $107.7M | $95.8M | ||
| Q1 25 | $106.4M | — | ||
| Q4 24 | $104.9M | — | ||
| Q3 24 | $108.8M | — | ||
| Q2 24 | $107.2M | $61.7M | ||
| Q1 24 | $106.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $43.7M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $51.2M | ||
| Q1 24 | — | — |
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | $312.8M | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | $254.0M | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $6.5B | — | ||
| Q3 25 | $6.5B | — | ||
| Q2 25 | $6.8B | $363.8M | ||
| Q1 25 | $6.6B | — | ||
| Q4 24 | $6.4B | — | ||
| Q3 24 | $6.8B | — | ||
| Q2 24 | $7.1B | $310.5M | ||
| Q1 24 | $7.3B | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.14× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.20× | ||
| 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 | $26.8M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 0.70× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.3M | — | ||
| Q3 25 | $18.5M | — | ||
| Q2 25 | $21.1M | $26.8M | ||
| Q1 25 | $15.9M | — | ||
| Q4 24 | $132.6M | — | ||
| Q3 24 | $49.1M | — | ||
| Q2 24 | $30.6M | $31.7M | ||
| Q1 24 | $34.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 1.34× | — | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.54× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.19× | 1.47× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
