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Side-by-side financial comparison of KKR Real Estate Finance Trust Inc. (KREF) and Postal Realty Trust, Inc. (PSTL). Click either name above to swap in a different company.
Postal Realty Trust, Inc. is the larger business by last-quarter revenue ($26.0M vs $25.8M, roughly 1.0× KKR Real Estate Finance Trust Inc.). Postal Realty Trust, Inc. runs the higher net margin — 17.9% vs -101.7%, a 119.6% gap on every dollar of revenue. On growth, Postal Realty Trust, Inc. posted the faster year-over-year revenue change (21.7% vs -26.6%). Over the past eight quarters, Postal Realty Trust, Inc.'s revenue compounded faster (22.6% 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.
Postal Realty Trust, Inc. is a specialized real estate investment trust that acquires, owns, and manages properties primarily leased to the United States Postal Service. Its portfolio includes last-mile postal facilities, sorting centers, and retail post office locations across the U.S., supporting critical mail and package delivery infrastructure.
KREF vs PSTL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.8M | $26.0M |
| Net Profit | $-26.2M | $4.6M |
| Gross Margin | — | — |
| Operating Margin | -105.1% | 39.2% |
| Net Margin | -101.7% | 17.9% |
| Revenue YoY | -26.6% | 21.7% |
| Net Profit YoY | -229.6% | 3.1% |
| EPS (diluted) | $-0.49 | $0.16 |
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 | $26.0M | ||
| Q3 25 | $25.3M | $24.3M | ||
| Q2 25 | $30.2M | $23.4M | ||
| Q1 25 | $31.3M | $22.1M | ||
| Q4 24 | $35.1M | $21.4M | ||
| Q3 24 | $37.0M | $19.7M | ||
| Q2 24 | $40.4M | $18.1M | ||
| Q1 24 | $39.1M | $17.3M |
| Q4 25 | $-26.2M | $4.6M | ||
| Q3 25 | $13.8M | $3.8M | ||
| Q2 25 | $-29.7M | $3.6M | ||
| Q1 25 | $-4.9M | $2.1M | ||
| Q4 24 | $20.3M | $4.5M | ||
| Q3 24 | $-7.4M | $1.1M | ||
| Q2 24 | $25.8M | $817.0K | ||
| Q1 24 | $-3.1M | $206.0K |
| Q4 25 | -105.1% | 39.2% | ||
| Q3 25 | 50.4% | 37.6% | ||
| Q2 25 | -101.3% | 37.3% | ||
| Q1 25 | -18.3% | 28.4% | ||
| Q4 24 | 55.8% | 43.2% | ||
| Q3 24 | -19.6% | 24.3% | ||
| Q2 24 | 63.3% | 22.8% | ||
| Q1 24 | -8.7% | 17.6% |
| Q4 25 | -101.7% | 17.9% | ||
| Q3 25 | 54.4% | 15.7% | ||
| Q2 25 | -98.5% | 15.5% | ||
| Q1 25 | -15.5% | 9.4% | ||
| Q4 24 | 57.7% | 21.1% | ||
| Q3 24 | -20.0% | 5.4% | ||
| Q2 24 | 63.9% | 4.5% | ||
| Q1 24 | -7.9% | 1.2% |
| Q4 25 | $-0.49 | $0.16 | ||
| Q3 25 | $0.12 | $0.13 | ||
| Q2 25 | $-0.53 | $0.12 | ||
| Q1 25 | $-0.15 | $0.06 | ||
| Q4 24 | $0.22 | $0.17 | ||
| Q3 24 | $-0.19 | $0.03 | ||
| Q2 24 | $0.29 | $0.02 | ||
| Q1 24 | $-0.13 | $-0.01 |
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 | $1.5M |
| Total DebtLower is stronger | — | $361.1M |
| Stockholders' EquityBook value | $1.2B | $285.2M |
| Total Assets | $6.5B | $759.1M |
| Debt / EquityLower = less leverage | — | 1.27× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $84.6M | $1.5M | ||
| Q3 25 | $204.1M | $1.9M | ||
| Q2 25 | $107.7M | $1.1M | ||
| Q1 25 | $106.4M | $639.0K | ||
| Q4 24 | $104.9M | $1.8M | ||
| Q3 24 | $108.8M | $970.0K | ||
| Q2 24 | $107.2M | $1.7M | ||
| Q1 24 | $106.5M | $1.9M |
| Q4 25 | — | $361.1M | ||
| Q3 25 | — | $347.0M | ||
| Q2 25 | — | $328.8M | ||
| Q1 25 | — | $306.7M | ||
| Q4 24 | — | $296.7M | ||
| Q3 24 | — | $277.0M | ||
| Q2 24 | — | $273.7M | ||
| Q1 24 | — | $247.6M |
| Q4 25 | $1.2B | $285.2M | ||
| Q3 25 | $1.2B | $273.9M | ||
| Q2 25 | $1.2B | $250.8M | ||
| Q1 25 | $1.3B | $245.5M | ||
| Q4 24 | $1.3B | $251.3M | ||
| Q3 24 | $1.4B | $245.6M | ||
| Q2 24 | $1.4B | $245.5M | ||
| Q1 24 | $1.4B | $248.1M |
| Q4 25 | $6.5B | $759.1M | ||
| Q3 25 | $6.5B | $735.2M | ||
| Q2 25 | $6.8B | $689.8M | ||
| Q1 25 | $6.6B | $654.0M | ||
| Q4 24 | $6.4B | $646.8M | ||
| Q3 24 | $6.8B | $615.1M | ||
| Q2 24 | $7.1B | $608.2M | ||
| Q1 24 | $7.3B | $584.1M |
| Q4 25 | — | 1.27× | ||
| Q3 25 | — | 1.27× | ||
| Q2 25 | — | 1.31× | ||
| Q1 25 | — | 1.25× | ||
| Q4 24 | — | 1.18× | ||
| Q3 24 | — | 1.13× | ||
| Q2 24 | — | 1.11× | ||
| Q1 24 | — | 1.00× |
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 | $44.5M |
| Free Cash FlowOCF − Capex | — | $37.6M |
| FCF MarginFCF / Revenue | — | 144.5% |
| Capex IntensityCapex / Revenue | — | 26.7% |
| Cash ConversionOCF / Net Profit | — | 9.59× |
| TTM Free Cash FlowTrailing 4 quarters | — | $65.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.3M | $44.5M | ||
| Q3 25 | $18.5M | $10.9M | ||
| Q2 25 | $21.1M | $11.4M | ||
| Q1 25 | $15.9M | $10.8M | ||
| Q4 24 | $132.6M | $33.5M | ||
| Q3 24 | $49.1M | $8.0M | ||
| Q2 24 | $30.6M | $9.9M | ||
| Q1 24 | $34.5M | $6.4M |
| Q4 25 | — | $37.6M | ||
| Q3 25 | — | $8.8M | ||
| Q2 25 | — | $9.1M | ||
| Q1 25 | — | $10.2M | ||
| Q4 24 | — | $30.7M | ||
| Q3 24 | — | $7.4M | ||
| Q2 24 | — | $8.9M | ||
| Q1 24 | — | $5.8M |
| Q4 25 | — | 144.5% | ||
| Q3 25 | — | 36.1% | ||
| Q2 25 | — | 38.8% | ||
| Q1 25 | — | 45.9% | ||
| Q4 24 | — | 143.8% | ||
| Q3 24 | — | 37.6% | ||
| Q2 24 | — | 49.4% | ||
| Q1 24 | — | 33.6% |
| Q4 25 | — | 26.7% | ||
| Q3 25 | — | 8.9% | ||
| Q2 25 | — | 10.1% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | — | 13.0% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | 5.4% | ||
| Q1 24 | — | 3.5% |
| Q4 25 | — | 9.59× | ||
| Q3 25 | 1.34× | 2.87× | ||
| Q2 25 | — | 3.16× | ||
| Q1 25 | — | 5.20× | ||
| Q4 24 | 6.54× | 7.44× | ||
| Q3 24 | — | 7.48× | ||
| Q2 24 | 1.19× | 12.10× | ||
| Q1 24 | — | 31.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
