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Side-by-side financial comparison of KKR Real Estate Finance Trust Inc. (KREF) and SANDRIDGE ENERGY INC (SD). Click either name above to swap in a different company.
SANDRIDGE ENERGY INC is the larger business by last-quarter revenue ($39.4M vs $25.8M, roughly 1.5× KKR Real Estate Finance Trust Inc.). SANDRIDGE ENERGY INC runs the higher net margin — 54.9% vs -101.7%, a 156.7% gap on every dollar of revenue. On growth, SANDRIDGE ENERGY INC posted the faster year-over-year revenue change (1.1% vs -26.6%). Over the past eight quarters, SANDRIDGE ENERGY INC's revenue compounded faster (14.1% 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.
SandRidge Energy, Inc. is a company engaged in hydrocarbon exploration in the Mid-Continent region of the United States. It is organized in Delaware and headquartered in Oklahoma City, Oklahoma.
KREF vs SD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.8M | $39.4M |
| Net Profit | $-26.2M | $21.6M |
| Gross Margin | — | — |
| Operating Margin | -105.1% | 38.5% |
| Net Margin | -101.7% | 54.9% |
| Revenue YoY | -26.6% | 1.1% |
| Net Profit YoY | -229.6% | 23.1% |
| EPS (diluted) | $-0.49 | $0.59 |
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 | $39.4M | ||
| Q3 25 | $25.3M | $39.8M | ||
| Q2 25 | $30.2M | $34.5M | ||
| Q1 25 | $31.3M | $42.6M | ||
| Q4 24 | $35.1M | $39.0M | ||
| Q3 24 | $37.0M | $30.1M | ||
| Q2 24 | $40.4M | $26.0M | ||
| Q1 24 | $39.1M | $30.3M |
| Q4 25 | $-26.2M | $21.6M | ||
| Q3 25 | $13.8M | $16.0M | ||
| Q2 25 | $-29.7M | $19.6M | ||
| Q1 25 | $-4.9M | $13.0M | ||
| Q4 24 | $20.3M | $17.6M | ||
| Q3 24 | $-7.4M | $25.5M | ||
| Q2 24 | $25.8M | $8.8M | ||
| Q1 24 | $-3.1M | $11.1M |
| Q4 25 | -105.1% | 38.5% | ||
| Q3 25 | 50.4% | 37.8% | ||
| Q2 25 | -101.3% | 53.7% | ||
| Q1 25 | -18.3% | 28.6% | ||
| Q4 24 | 55.8% | 25.9% | ||
| Q3 24 | -19.6% | 28.3% | ||
| Q2 24 | 63.3% | 23.9% | ||
| Q1 24 | -8.7% | 27.8% |
| Q4 25 | -101.7% | 54.9% | ||
| Q3 25 | 54.4% | 40.1% | ||
| Q2 25 | -98.5% | 56.6% | ||
| Q1 25 | -15.5% | 30.6% | ||
| Q4 24 | 57.7% | 45.1% | ||
| Q3 24 | -20.0% | 84.8% | ||
| Q2 24 | 63.9% | 33.9% | ||
| Q1 24 | -7.9% | 36.7% |
| Q4 25 | $-0.49 | $0.59 | ||
| Q3 25 | $0.12 | $0.43 | ||
| Q2 25 | $-0.53 | $0.53 | ||
| Q1 25 | $-0.15 | $0.35 | ||
| Q4 24 | $0.22 | $0.46 | ||
| Q3 24 | $-0.19 | $0.69 | ||
| Q2 24 | $0.29 | $0.24 | ||
| Q1 24 | $-0.13 | $0.30 |
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 | $111.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $510.9M |
| Total Assets | $6.5B | $644.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $84.6M | $111.0M | ||
| Q3 25 | $204.1M | $101.2M | ||
| Q2 25 | $107.7M | $102.8M | ||
| Q1 25 | $106.4M | $99.7M | ||
| Q4 24 | $104.9M | $98.1M | ||
| Q3 24 | $108.8M | $92.7M | ||
| Q2 24 | $107.2M | $209.9M | ||
| Q1 24 | $106.5M | $207.0M |
| Q4 25 | $1.2B | $510.9M | ||
| Q3 25 | $1.2B | $492.4M | ||
| Q2 25 | $1.2B | $480.2M | ||
| Q1 25 | $1.3B | $464.9M | ||
| Q4 24 | $1.3B | $460.5M | ||
| Q3 24 | $1.4B | $446.8M | ||
| Q2 24 | $1.4B | $424.8M | ||
| Q1 24 | $1.4B | $419.7M |
| Q4 25 | $6.5B | $644.0M | ||
| Q3 25 | $6.5B | $619.0M | ||
| Q2 25 | $6.8B | $602.3M | ||
| Q1 25 | $6.6B | $588.3M | ||
| Q4 24 | $6.4B | $581.5M | ||
| Q3 24 | $6.8B | $565.2M | ||
| Q2 24 | $7.1B | $529.6M | ||
| Q1 24 | $7.3B | $527.4M |
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 | $31.7M |
| Free Cash FlowOCF − Capex | — | $14.4M |
| FCF MarginFCF / Revenue | — | 36.6% |
| Capex IntensityCapex / Revenue | — | 43.8% |
| Cash ConversionOCF / Net Profit | — | 1.46× |
| TTM Free Cash FlowTrailing 4 quarters | — | $41.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.3M | $31.7M | ||
| Q3 25 | $18.5M | $25.3M | ||
| Q2 25 | $21.1M | $22.9M | ||
| Q1 25 | $15.9M | $20.3M | ||
| Q4 24 | $132.6M | $26.0M | ||
| Q3 24 | $49.1M | $20.8M | ||
| Q2 24 | $30.6M | $11.4M | ||
| Q1 24 | $34.5M | $15.7M |
| Q4 25 | — | $14.4M | ||
| Q3 25 | — | $5.9M | ||
| Q2 25 | — | $7.3M | ||
| Q1 25 | — | $13.9M | ||
| Q4 24 | — | $13.2M | ||
| Q3 24 | — | $10.8M | ||
| Q2 24 | — | $9.0M | ||
| Q1 24 | — | $14.6M |
| Q4 25 | — | 36.6% | ||
| Q3 25 | — | 14.9% | ||
| Q2 25 | — | 21.0% | ||
| Q1 25 | — | 32.7% | ||
| Q4 24 | — | 33.8% | ||
| Q3 24 | — | 36.1% | ||
| Q2 24 | — | 34.5% | ||
| Q1 24 | — | 48.1% |
| Q4 25 | — | 43.8% | ||
| Q3 25 | — | 48.6% | ||
| Q2 25 | — | 45.2% | ||
| Q1 25 | — | 15.0% | ||
| Q4 24 | — | 32.9% | ||
| Q3 24 | — | 33.3% | ||
| Q2 24 | — | 9.4% | ||
| Q1 24 | — | 3.7% |
| Q4 25 | — | 1.46× | ||
| Q3 25 | 1.34× | 1.58× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | 6.54× | 1.48× | ||
| Q3 24 | — | 0.82× | ||
| Q2 24 | 1.19× | 1.30× | ||
| Q1 24 | — | 1.41× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KREF
Segment breakdown not available.
SD
| Oil Reserves | $19.0M | 48% |
| Natural Gas Reserves | $11.6M | 30% |
| Natural Gas Liquids Reserves | $8.7M | 22% |
