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Side-by-side financial comparison of KKR Real Estate Finance Trust Inc. (KREF) and Snail, Inc. (SNAL). Click either name above to swap in a different company.
KKR Real Estate Finance Trust Inc. is the larger business by last-quarter revenue ($25.8M vs $25.1M, roughly 1.0× Snail, Inc.). Snail, Inc. runs the higher net margin — -3.4% vs -101.7%, a 98.3% gap on every dollar of revenue. On growth, Snail, Inc. posted the faster year-over-year revenue change (-4.2% vs -26.6%). Over the past eight quarters, Snail, Inc.'s revenue compounded faster (33.4% 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.
Suzhou Snail Digital Technology Co., Ltd., doing business as Snail, is a Chinese video game company and a Virtual Network Operator headquartered in Suzhou, China, which has branches Snail Games and Snail Mobile. Its division, Snail USA, markets Snail Games products in North America, South America, & Europe. Snail Games products include massively multiplayer online (MMOs), real-time strategy (RTS), and casual games. Its global registered user base has reached over 70 million accounts. The U.S....
KREF vs SNAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.8M | $25.1M |
| Net Profit | $-26.2M | $-862.2K |
| Gross Margin | — | 38.3% |
| Operating Margin | -105.1% | -6.0% |
| Net Margin | -101.7% | -3.4% |
| Revenue YoY | -26.6% | -4.2% |
| Net Profit YoY | -229.6% | -177.0% |
| EPS (diluted) | $-0.49 | — |
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 | $25.1M | ||
| Q3 25 | $25.3M | $13.8M | ||
| Q2 25 | $30.2M | $22.2M | ||
| Q1 25 | $31.3M | $20.1M | ||
| Q4 24 | $35.1M | $26.2M | ||
| Q3 24 | $37.0M | $22.5M | ||
| Q2 24 | $40.4M | $21.6M | ||
| Q1 24 | $39.1M | $14.1M |
| Q4 25 | $-26.2M | $-862.2K | ||
| Q3 25 | $13.8M | $-7.9M | ||
| Q2 25 | $-29.7M | $-16.6M | ||
| Q1 25 | $-4.9M | $-1.9M | ||
| Q4 24 | $20.3M | $1.1M | ||
| Q3 24 | $-7.4M | $235.1K | ||
| Q2 24 | $25.8M | $2.3M | ||
| Q1 24 | $-3.1M | $-1.8M |
| Q4 25 | — | 38.3% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 31.3% | ||
| Q1 25 | — | 29.1% | ||
| Q4 24 | — | 43.3% | ||
| Q3 24 | — | 38.6% | ||
| Q2 24 | — | 37.5% | ||
| Q1 24 | — | 14.7% |
| Q4 25 | -105.1% | -6.0% | ||
| Q3 25 | 50.4% | -71.3% | ||
| Q2 25 | -101.3% | -8.2% | ||
| Q1 25 | -18.3% | -20.4% | ||
| Q4 24 | 55.8% | 11.5% | ||
| Q3 24 | -19.6% | 1.8% | ||
| Q2 24 | 63.3% | 12.4% | ||
| Q1 24 | -8.7% | -15.6% |
| Q4 25 | -101.7% | -3.4% | ||
| Q3 25 | 54.4% | -56.9% | ||
| Q2 25 | -98.5% | -74.7% | ||
| Q1 25 | -15.5% | -9.7% | ||
| Q4 24 | 57.7% | 4.3% | ||
| Q3 24 | -20.0% | 1.0% | ||
| Q2 24 | 63.9% | 10.4% | ||
| Q1 24 | -7.9% | -12.6% |
| Q4 25 | $-0.49 | — | ||
| Q3 25 | $0.12 | — | ||
| Q2 25 | $-0.53 | $-0.44 | ||
| Q1 25 | $-0.15 | $-0.06 | ||
| Q4 24 | $0.22 | $0.03 | ||
| Q3 24 | $-0.19 | $0.01 | ||
| Q2 24 | $0.29 | $0.06 | ||
| Q1 24 | $-0.13 | $-0.05 |
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 | $8.6M |
| Total DebtLower is stronger | — | $14.6M |
| Stockholders' EquityBook value | $1.2B | $-16.4M |
| Total Assets | $6.5B | $59.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $84.6M | $8.6M | ||
| Q3 25 | $204.1M | $12.3M | ||
| Q2 25 | $107.7M | $7.9M | ||
| Q1 25 | $106.4M | $9.4M | ||
| Q4 24 | $104.9M | $7.3M | ||
| Q3 24 | $108.8M | $10.6M | ||
| Q2 24 | $107.2M | $15.5M | ||
| Q1 24 | $106.5M | $16.1M |
| Q4 25 | — | $14.6M | ||
| Q3 25 | — | $10.5M | ||
| Q2 25 | — | $11.8M | ||
| Q1 25 | — | $9.0M | ||
| Q4 24 | — | $5.7M | ||
| Q3 24 | — | $5.7M | ||
| Q2 24 | — | $5.8M | ||
| Q1 24 | — | $6.5M |
| Q4 25 | $1.2B | $-16.4M | ||
| Q3 25 | $1.2B | $-15.6M | ||
| Q2 25 | $1.2B | $-8.0M | ||
| Q1 25 | $1.3B | $9.1M | ||
| Q4 24 | $1.3B | $9.7M | ||
| Q3 24 | $1.4B | $8.2M | ||
| Q2 24 | $1.4B | $7.9M | ||
| Q1 24 | $1.4B | $5.6M |
| Q4 25 | $6.5B | $59.3M | ||
| Q3 25 | $6.5B | $51.1M | ||
| Q2 25 | $6.8B | $58.0M | ||
| Q1 25 | $6.6B | $64.5M | ||
| Q4 24 | $6.4B | $62.2M | ||
| Q3 24 | $6.8B | $66.8M | ||
| Q2 24 | $7.1B | $75.4M | ||
| Q1 24 | $7.3B | $78.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | — | 0.59× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.73× | ||
| Q1 24 | — | 1.16× |
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 | $-5.3M |
| 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 | $-5.3M | ||
| Q3 25 | $18.5M | $6.6M | ||
| Q2 25 | $21.1M | $-3.2M | ||
| Q1 25 | $15.9M | $764.5K | ||
| Q4 24 | $132.6M | $-3.6M | ||
| Q3 24 | $49.1M | $-5.0M | ||
| Q2 24 | $30.6M | $206.6K | ||
| Q1 24 | $34.5M | $6.8M |
| Q4 25 | — | — | ||
| Q3 25 | 1.34× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.54× | -3.21× | ||
| Q3 24 | — | -21.05× | ||
| Q2 24 | 1.19× | 0.09× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KREF
Segment breakdown not available.
SNAL
| Pc | $14.7M | 59% |
| Platform Three | $5.2M | 21% |
| Platform Two | $3.3M | 13% |
| Sales Channel Directly To Consumer Mobile Sale | $1.6M | 6% |
