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Side-by-side financial comparison of KKR Real Estate Finance Trust Inc. (KREF) and READING INTERNATIONAL INC (RDI). Click either name above to swap in a different company.
READING INTERNATIONAL INC is the larger business by last-quarter revenue ($50.3M vs $25.8M, roughly 1.9× KKR Real Estate Finance Trust Inc.). READING INTERNATIONAL INC runs the higher net margin — -5.1% vs -101.7%, a 96.6% gap on every dollar of revenue. On growth, READING INTERNATIONAL INC posted the faster year-over-year revenue change (-14.2% vs -26.6%). Over the past eight quarters, READING INTERNATIONAL INC's revenue compounded faster (5.6% 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.
The Reading Company was a Philadelphia-headquartered railroad that provided passenger and freight transport in eastern Pennsylvania and neighboring states from 1924 until its acquisition by Conrail in 1976.
KREF vs RDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.8M | $50.3M |
| Net Profit | $-26.2M | $-2.6M |
| Gross Margin | — | — |
| Operating Margin | -105.1% | -1.9% |
| Net Margin | -101.7% | -5.1% |
| Revenue YoY | -26.6% | -14.2% |
| Net Profit YoY | -229.6% | -14.5% |
| EPS (diluted) | $-0.49 | $-0.11 |
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 | $50.3M | ||
| Q3 25 | $25.3M | $52.2M | ||
| Q2 25 | $30.2M | $60.4M | ||
| Q1 25 | $31.3M | $40.2M | ||
| Q4 24 | $35.1M | $58.6M | ||
| Q3 24 | $37.0M | $60.1M | ||
| Q2 24 | $40.4M | $46.8M | ||
| Q1 24 | $39.1M | $45.1M |
| Q4 25 | $-26.2M | $-2.6M | ||
| Q3 25 | $13.8M | $-4.2M | ||
| Q2 25 | $-29.7M | $-2.7M | ||
| Q1 25 | $-4.9M | $-4.8M | ||
| Q4 24 | $20.3M | $-2.2M | ||
| Q3 24 | $-7.4M | $-7.0M | ||
| Q2 24 | $25.8M | $-12.8M | ||
| Q1 24 | $-3.1M | $-13.2M |
| Q4 25 | -105.1% | -1.9% | ||
| Q3 25 | 50.4% | -0.6% | ||
| Q2 25 | -101.3% | 4.8% | ||
| Q1 25 | -18.3% | -17.2% | ||
| Q4 24 | 55.8% | 2.6% | ||
| Q3 24 | -19.6% | -0.6% | ||
| Q2 24 | 63.3% | -16.4% | ||
| Q1 24 | -8.7% | -16.7% |
| Q4 25 | -101.7% | -5.1% | ||
| Q3 25 | 54.4% | -8.0% | ||
| Q2 25 | -98.5% | -4.4% | ||
| Q1 25 | -15.5% | -11.8% | ||
| Q4 24 | 57.7% | -3.8% | ||
| Q3 24 | -20.0% | -11.7% | ||
| Q2 24 | 63.9% | -27.4% | ||
| Q1 24 | -7.9% | -29.4% |
| Q4 25 | $-0.49 | $-0.11 | ||
| Q3 25 | $0.12 | $-0.18 | ||
| Q2 25 | $-0.53 | $-0.12 | ||
| Q1 25 | $-0.15 | $-0.21 | ||
| Q4 24 | $0.22 | $-0.11 | ||
| Q3 24 | $-0.19 | $-0.31 | ||
| Q2 24 | $0.29 | $-0.57 | ||
| Q1 24 | $-0.13 | $-0.59 |
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 | $10.5M |
| Total DebtLower is stronger | — | $185.1M |
| Stockholders' EquityBook value | $1.2B | $-18.2M |
| Total Assets | $6.5B | $434.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $84.6M | $10.5M | ||
| Q3 25 | $204.1M | $8.1M | ||
| Q2 25 | $107.7M | $9.1M | ||
| Q1 25 | $106.4M | $5.9M | ||
| Q4 24 | $104.9M | $12.4M | ||
| Q3 24 | $108.8M | $10.1M | ||
| Q2 24 | $107.2M | $9.3M | ||
| Q1 24 | $106.5M | $7.5M |
| Q4 25 | — | $185.1M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $202.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.2B | $-18.2M | ||
| Q3 25 | $1.2B | $-12.1M | ||
| Q2 25 | $1.2B | $-7.7M | ||
| Q1 25 | $1.3B | $-8.1M | ||
| Q4 24 | $1.3B | $-4.4M | ||
| Q3 24 | $1.4B | $1.6M | ||
| Q2 24 | $1.4B | $6.5M | ||
| Q1 24 | $1.4B | $18.0M |
| Q4 25 | $6.5B | $434.9M | ||
| Q3 25 | $6.5B | $435.2M | ||
| Q2 25 | $6.8B | $438.1M | ||
| Q1 25 | $6.6B | $441.0M | ||
| Q4 24 | $6.4B | $471.0M | ||
| Q3 24 | $6.8B | $495.7M | ||
| Q2 24 | $7.1B | $494.9M | ||
| Q1 24 | $7.3B | $494.9M |
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 | $4.3M |
| Free Cash FlowOCF − Capex | — | $4.1M |
| FCF MarginFCF / Revenue | — | 8.2% |
| Capex IntensityCapex / Revenue | — | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-2.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.3M | $4.3M | ||
| Q3 25 | $18.5M | $295.0K | ||
| Q2 25 | $21.1M | $1.6M | ||
| Q1 25 | $15.9M | $-7.7M | ||
| Q4 24 | $132.6M | $8.0M | ||
| Q3 24 | $49.1M | $1.3M | ||
| Q2 24 | $30.6M | $-10.4M | ||
| Q1 24 | $34.5M | $-2.8M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | — | $-246.0K | ||
| Q2 25 | — | $1.2M | ||
| Q1 25 | — | $-8.0M | ||
| Q4 24 | — | $7.0M | ||
| Q3 24 | — | $-1.1M | ||
| Q2 24 | — | $-10.6M | ||
| Q1 24 | — | $-4.7M |
| Q4 25 | — | 8.2% | ||
| Q3 25 | — | -0.5% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | -19.8% | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | — | -1.8% | ||
| Q2 24 | — | -22.7% | ||
| Q1 24 | — | -10.4% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | — | 4.0% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 4.3% |
| 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.
RDI
| Cinema Exhibition Segment | $46.9M | 93% |
| Real Estate Revenue | $3.4M | 7% |
