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Side-by-side financial comparison of KKR Real Estate Finance Trust Inc. (KREF) and TrueCar, Inc. (TRUE). Click either name above to swap in a different company.
TrueCar, Inc. is the larger business by last-quarter revenue ($43.2M vs $25.8M, roughly 1.7× KKR Real Estate Finance Trust Inc.). TrueCar, Inc. runs the higher net margin — 11.6% vs -101.7%, a 113.3% gap on every dollar of revenue. On growth, TrueCar, Inc. posted the faster year-over-year revenue change (-7.2% vs -26.6%). Over the past eight quarters, TrueCar, Inc.'s revenue compounded faster (2.3% 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.
TrueCar, Inc. is an American car retailing website company headquartered in Santa Monica, California. It also maintains a sales office in Austin, Texas.
KREF vs TRUE — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.8M | $43.2M |
| Net Profit | $-26.2M | $5.0M |
| Gross Margin | — | — |
| Operating Margin | -105.1% | -17.0% |
| Net Margin | -101.7% | 11.6% |
| Revenue YoY | -26.6% | -7.2% |
| Net Profit YoY | -229.6% | 185.7% |
| 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 | — | ||
| Q3 25 | $25.3M | $43.2M | ||
| Q2 25 | $30.2M | $47.0M | ||
| Q1 25 | $31.3M | $44.8M | ||
| Q4 24 | $35.1M | $46.2M | ||
| Q3 24 | $37.0M | $46.5M | ||
| Q2 24 | $40.4M | $41.8M | ||
| Q1 24 | $39.1M | $41.1M |
| Q4 25 | $-26.2M | — | ||
| Q3 25 | $13.8M | $5.0M | ||
| Q2 25 | $-29.7M | $-7.6M | ||
| Q1 25 | $-4.9M | $-10.1M | ||
| Q4 24 | $20.3M | $-5.8M | ||
| Q3 24 | $-7.4M | $-5.8M | ||
| Q2 24 | $25.8M | $-13.5M | ||
| Q1 24 | $-3.1M | $-5.8M |
| Q4 25 | -105.1% | — | ||
| Q3 25 | 50.4% | -17.0% | ||
| Q2 25 | -101.3% | -18.3% | ||
| Q1 25 | -18.3% | -25.0% | ||
| Q4 24 | 55.8% | -15.4% | ||
| Q3 24 | -19.6% | -15.9% | ||
| Q2 24 | 63.3% | -36.3% | ||
| Q1 24 | -8.7% | -18.2% |
| Q4 25 | -101.7% | — | ||
| Q3 25 | 54.4% | 11.6% | ||
| Q2 25 | -98.5% | -16.2% | ||
| Q1 25 | -15.5% | -22.6% | ||
| Q4 24 | 57.7% | -12.7% | ||
| Q3 24 | -20.0% | -12.5% | ||
| Q2 24 | 63.9% | -32.3% | ||
| Q1 24 | -7.9% | -14.2% |
| Q4 25 | $-0.49 | — | ||
| Q3 25 | $0.12 | — | ||
| Q2 25 | $-0.53 | — | ||
| Q1 25 | $-0.15 | — | ||
| Q4 24 | $0.22 | — | ||
| Q3 24 | $-0.19 | — | ||
| 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 | $103.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $114.2M |
| Total Assets | $6.5B | $148.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $84.6M | — | ||
| Q3 25 | $204.1M | $103.2M | ||
| Q2 25 | $107.7M | $92.5M | ||
| Q1 25 | $106.4M | $98.0M | ||
| Q4 24 | $104.9M | $111.8M | ||
| Q3 24 | $108.8M | $114.5M | ||
| Q2 24 | $107.2M | $128.0M | ||
| Q1 24 | $106.5M | $133.7M |
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $114.2M | ||
| Q2 25 | $1.2B | $106.4M | ||
| Q1 25 | $1.3B | $111.1M | ||
| Q4 24 | $1.3B | $118.1M | ||
| Q3 24 | $1.4B | $128.0M | ||
| Q2 24 | $1.4B | $143.9M | ||
| Q1 24 | $1.4B | $156.0M |
| Q4 25 | $6.5B | — | ||
| Q3 25 | $6.5B | $148.7M | ||
| Q2 25 | $6.8B | $139.8M | ||
| Q1 25 | $6.6B | $145.0M | ||
| Q4 24 | $6.4B | $159.7M | ||
| Q3 24 | $6.8B | $167.5M | ||
| Q2 24 | $7.1B | $183.0M | ||
| Q1 24 | $7.3B | $193.5M |
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 | $12.7M |
| Free Cash FlowOCF − Capex | — | $11.2M |
| FCF MarginFCF / Revenue | — | 25.9% |
| Capex IntensityCapex / Revenue | — | 3.5% |
| Cash ConversionOCF / Net Profit | — | 2.55× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-19.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.3M | — | ||
| Q3 25 | $18.5M | $12.7M | ||
| Q2 25 | $21.1M | $-2.8M | ||
| Q1 25 | $15.9M | $-7.9M | ||
| Q4 24 | $132.6M | $5.9M | ||
| Q3 24 | $49.1M | $1.8M | ||
| Q2 24 | $30.6M | $-2.0M | ||
| Q1 24 | $34.5M | $2.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | $11.2M | ||
| Q2 25 | — | $-4.8M | ||
| Q1 25 | — | $-10.6M | ||
| Q4 24 | — | $4.1M | ||
| Q3 24 | — | $-170.0K | ||
| Q2 24 | — | $-3.6M | ||
| Q1 24 | — | $-511.0K |
| Q4 25 | — | — | ||
| Q3 25 | — | 25.9% | ||
| Q2 25 | — | -10.2% | ||
| Q1 25 | — | -23.6% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | — | -0.4% | ||
| Q2 24 | — | -8.7% | ||
| Q1 24 | — | -1.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | — | 4.2% | ||
| Q1 25 | — | 6.0% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | 4.2% | ||
| Q2 24 | — | 3.9% | ||
| Q1 24 | — | 6.2% |
| Q4 25 | — | — | ||
| Q3 25 | 1.34× | 2.55× | ||
| 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.
