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Journey Medical Corp（DERM）与KKR Real Estate Finance Trust Inc.（KREF）财务数据对比。点击上方公司名可切换其他公司
KKR Real Estate Finance Trust Inc.的季度营收约是Journey Medical Corp的1.6倍（$25.8M vs $16.1M），Journey Medical Corp净利率更高（-7.8% vs -101.7%，领先94.0%），Journey Medical Corp同比增速更快（27.3% vs -26.6%），过去两年Journey Medical Corp的营收复合增速更高（11.0% vs -18.8%）
Journey Medical Corp是一家处于商业化阶段的生物制药企业，专注于皮肤病治疗领域，研发、生产并销售处方及非处方皮肤用药，覆盖痤疮、特应性皮炎、皮肤真菌感染等适应症，主要服务美国市场的医疗机构与患者。
KKR房地产金融信托公司是全球投资机构KKR旗下的专业房地产金融平台，主要发起、收购并管理优先担保商业地产贷款组合，抵押物多为美国各地的优质机构级商业地产，通过贷款利息收入为投资者提供稳定的经风险调整后的回报。
DERM vs KREF — 直观对比
营收规模更大
KREF
是对方的1.6倍
$16.1M
营收增速更快
DERM
高出53.9%
-26.6%
净利率更高
DERM
高出94.0%
-101.7%
两年增速更快
DERM
近两年复合增速
-18.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $16.1M | $25.8M |
| 净利润 | $-1.2M | $-26.2M |
| 毛利率 | — | — |
| 营业利润率 | -2.8% | -105.1% |
| 净利率 | -7.8% | -101.7% |
| 营收同比 | 27.3% | -26.6% |
| 净利润同比 | -182.0% | -229.6% |
| 每股收益（稀释后） | $-0.04 | $-0.49 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收DERMKREF
| Q4 25 | $16.1M | $25.8M | ||
| Q3 25 | $17.0M | $25.3M | ||
| Q2 25 | $15.0M | $30.2M | ||
| Q1 25 | $13.1M | $31.3M | ||
| Q4 24 | $12.6M | $35.1M | ||
| Q3 24 | $14.6M | $37.0M | ||
| Q2 24 | $14.9M | $40.4M | ||
| Q1 24 | $13.0M | $39.1M |
净利润DERMKREF
| Q4 25 | $-1.2M | $-26.2M | ||
| Q3 25 | $-2.3M | $13.8M | ||
| Q2 25 | $-3.8M | $-29.7M | ||
| Q1 25 | $-4.1M | $-4.9M | ||
| Q4 24 | $1.5M | $20.3M | ||
| Q3 24 | $-2.4M | $-7.4M | ||
| Q2 24 | $-3.4M | $25.8M | ||
| Q1 24 | $-10.4M | $-3.1M |
毛利率DERMKREF
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 82.3% | — | ||
| Q3 24 | 63.9% | — | ||
| Q2 24 | 56.0% | — | ||
| Q1 24 | 47.7% | — |
营业利润率DERMKREF
| Q4 25 | -2.8% | -105.1% | ||
| Q3 25 | -9.0% | 50.4% | ||
| Q2 25 | -19.2% | -101.3% | ||
| Q1 25 | -25.3% | -18.3% | ||
| Q4 24 | 17.7% | 55.8% | ||
| Q3 24 | -19.8% | -19.6% | ||
| Q2 24 | -19.7% | 63.3% | ||
| Q1 24 | -77.4% | -8.7% |
净利率DERMKREF
| Q4 25 | -7.8% | -101.7% | ||
| Q3 25 | -13.6% | 54.4% | ||
| Q2 25 | -25.3% | -98.5% | ||
| Q1 25 | -31.0% | -15.5% | ||
| Q4 24 | 12.1% | 57.7% | ||
| Q3 24 | -16.3% | -20.0% | ||
| Q2 24 | -22.6% | 63.9% | ||
| Q1 24 | -80.1% | -7.9% |
每股收益（稀释后）DERMKREF
| Q4 25 | $-0.04 | $-0.49 | ||
| Q3 25 | $-0.09 | $0.12 | ||
| Q2 25 | $-0.16 | $-0.53 | ||
| Q1 25 | $-0.18 | $-0.15 | ||
| Q4 24 | $0.10 | $0.22 | ||
| Q3 24 | $-0.12 | $-0.19 | ||
| Q2 24 | $-0.17 | $0.29 | ||
| Q1 24 | $-0.53 | $-0.13 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $24.1M | $84.6M |
| 总债务越低越好 | $25.3M | — |
| 股东权益账面价值 | $31.9M | $1.2B |
| 总资产 | $94.6M | $6.5B |
| 负债/权益比越低杠杆越低 | 0.79× | — |
8季度趋势，按日历期对齐
现金及短期投资DERMKREF
| Q4 25 | $24.1M | $84.6M | ||
| Q3 25 | $24.9M | $204.1M | ||
| Q2 25 | $20.3M | $107.7M | ||
| Q1 25 | $21.1M | $106.4M | ||
| Q4 24 | $20.3M | $104.9M | ||
| Q3 24 | $22.5M | $108.8M | ||
| Q2 24 | $23.9M | $107.2M | ||
| Q1 24 | $24.1M | $106.5M |
总债务DERMKREF
| Q4 25 | $25.3M | — | ||
| Q3 25 | $25.2M | — | ||
| Q2 25 | $25.1M | — | ||
| Q1 25 | $25.0M | — | ||
| Q4 24 | $24.9M | — | ||
| Q3 24 | $19.8M | — | ||
| Q2 24 | $19.7M | — | ||
| Q1 24 | $14.7M | — |
股东权益DERMKREF
| Q4 25 | $31.9M | $1.2B | ||
| Q3 25 | $25.9M | $1.2B | ||
| Q2 25 | $19.2M | $1.2B | ||
| Q1 25 | $21.5M | $1.3B | ||
| Q4 24 | $20.1M | $1.3B | ||
| Q3 24 | $10.9M | $1.4B | ||
| Q2 24 | $11.3M | $1.4B | ||
| Q1 24 | $13.0M | $1.4B |
总资产DERMKREF
| Q4 25 | $94.6M | $6.5B | ||
| Q3 25 | $85.2M | $6.5B | ||
| Q2 25 | $81.2M | $6.8B | ||
| Q1 25 | $85.0M | $6.6B | ||
| Q4 24 | $80.2M | $6.4B | ||
| Q3 24 | $64.0M | $6.8B | ||
| Q2 24 | $65.2M | $7.1B | ||
| Q1 24 | $66.6M | $7.3B |
负债/权益比DERMKREF
| Q4 25 | 0.79× | — | ||
| Q3 25 | 0.97× | — | ||
| Q2 25 | 1.30× | — | ||
| Q1 25 | 1.16× | — | ||
| Q4 24 | 1.24× | — | ||
| Q3 24 | 1.81× | — | ||
| Q2 24 | 1.75× | — | ||
| Q1 24 | 1.13× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-6.3M | $72.3M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流DERMKREF
| Q4 25 | $-6.3M | $72.3M | ||
| Q3 25 | $-2.4M | $18.5M | ||
| Q2 25 | $-942.0K | $21.1M | ||
| Q1 25 | $-2.8M | $15.9M | ||
| Q4 24 | $2.2M | $132.6M | ||
| Q3 24 | $-1.2M | $49.1M | ||
| Q2 24 | $-5.2M | $30.6M | ||
| Q1 24 | $-5.0M | $34.5M |
现金转化率DERMKREF
| Q4 25 | — | — | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.46× | 6.54× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
DERM
| Qbrexza | $5.5M | 35% |
| Emrosi | $5.0M | 31% |
| Accutane | $3.1M | 19% |
| Other | $2.5M | 15% |
KREF
暂无分部数据
