vs
Side-by-side financial comparison of KKR Real Estate Finance Trust Inc. (KREF) and SolarMax Technology, Inc. (SMXT). Click either name above to swap in a different company.
SolarMax Technology, Inc. is the larger business by last-quarter revenue ($46.6M vs $25.8M, roughly 1.8× KKR Real Estate Finance Trust Inc.). SolarMax Technology, Inc. runs the higher net margin — -1.9% vs -101.7%, a 99.9% gap on every dollar of revenue. On growth, SolarMax Technology, Inc. posted the faster year-over-year revenue change (623.5% 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.
SolarMax Technology, Inc. develops, manufactures and sells high-efficiency solar PV modules and clean energy systems. It serves residential, commercial and industrial clients in North America and key Asia-Pacific markets, offering installation and after-sales support to boost low-carbon energy use.
KREF vs SMXT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.8M | $46.6M |
| Net Profit | $-26.2M | $-872.2K |
| Gross Margin | — | 2.7% |
| Operating Margin | -105.1% | -2.7% |
| Net Margin | -101.7% | -1.9% |
| Revenue YoY | -26.6% | 623.5% |
| Net Profit YoY | -229.6% | 77.7% |
| EPS (diluted) | $-0.49 | $-0.02 |
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 | $46.6M | ||
| Q3 25 | $25.3M | $30.6M | ||
| Q2 25 | $30.2M | $6.9M | ||
| Q1 25 | $31.3M | $6.9M | ||
| Q4 24 | $35.1M | $6.4M | ||
| Q3 24 | $37.0M | $6.3M | ||
| Q2 24 | $40.4M | — | ||
| Q1 24 | $39.1M | — |
| Q4 25 | $-26.2M | $-872.2K | ||
| Q3 25 | $13.8M | $-2.3M | ||
| Q2 25 | $-29.7M | $-1.9M | ||
| Q1 25 | $-4.9M | $-1.3M | ||
| Q4 24 | $20.3M | $-3.9M | ||
| Q3 24 | $-7.4M | $-9.6M | ||
| Q2 24 | $25.8M | — | ||
| Q1 24 | $-3.1M | — |
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | 3.1% | ||
| Q2 25 | — | 8.8% | ||
| Q1 25 | — | 20.5% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -105.1% | -2.7% | ||
| Q3 25 | 50.4% | -6.9% | ||
| Q2 25 | -101.3% | -25.7% | ||
| Q1 25 | -18.3% | -16.7% | ||
| Q4 24 | 55.8% | -27.9% | ||
| Q3 24 | -19.6% | -158.4% | ||
| Q2 24 | 63.3% | — | ||
| Q1 24 | -8.7% | — |
| Q4 25 | -101.7% | -1.9% | ||
| Q3 25 | 54.4% | -7.4% | ||
| Q2 25 | -98.5% | -27.6% | ||
| Q1 25 | -15.5% | -18.7% | ||
| Q4 24 | 57.7% | -60.6% | ||
| Q3 24 | -20.0% | -152.0% | ||
| Q2 24 | 63.9% | — | ||
| Q1 24 | -7.9% | — |
| Q4 25 | $-0.49 | $-0.02 | ||
| Q3 25 | $0.12 | $-0.04 | ||
| Q2 25 | $-0.53 | $-0.04 | ||
| Q1 25 | $-0.15 | $-0.03 | ||
| Q4 24 | $0.22 | $-0.07 | ||
| Q3 24 | $-0.19 | $-0.21 | ||
| Q2 24 | $0.29 | — | ||
| 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 | $8.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $-12.2M |
| Total Assets | $6.5B | $91.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $84.6M | $8.0M | ||
| Q3 25 | $204.1M | $5.7M | ||
| Q2 25 | $107.7M | $1.9M | ||
| Q1 25 | $106.4M | $6.8M | ||
| Q4 24 | $104.9M | $7.1M | ||
| Q3 24 | $108.8M | $8.6M | ||
| Q2 24 | $107.2M | — | ||
| Q1 24 | $106.5M | — |
| Q4 25 | $1.2B | $-12.2M | ||
| Q3 25 | $1.2B | $-11.8M | ||
| Q2 25 | $1.2B | $-15.1M | ||
| Q1 25 | $1.3B | $-15.9M | ||
| Q4 24 | $1.3B | $-15.1M | ||
| Q3 24 | $1.4B | $-10.9M | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $6.5B | $91.3M | ||
| Q3 25 | $6.5B | $58.7M | ||
| Q2 25 | $6.8B | $38.2M | ||
| Q1 25 | $6.6B | $38.6M | ||
| Q4 24 | $6.4B | $38.6M | ||
| Q3 24 | $6.8B | $43.0M | ||
| Q2 24 | $7.1B | — | ||
| Q1 24 | $7.3B | — |
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 | $-2.5M |
| 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 | $-2.5M | ||
| Q3 25 | $18.5M | $3.4M | ||
| Q2 25 | $21.1M | $220.7K | ||
| Q1 25 | $15.9M | $-601.1K | ||
| Q4 24 | $132.6M | $-1.3M | ||
| Q3 24 | $49.1M | $203.6K | ||
| Q2 24 | $30.6M | — | ||
| Q1 24 | $34.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| 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.
SMXT
| Yabucoa | $35.9M | 77% |
| Other | $10.7M | 23% |
