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GRAIL, Inc.（GRAL）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
GRAIL, Inc.的季度营收约是KKR Real Estate Finance Trust Inc.的1.7倍（$43.6M vs $25.8M），KKR Real Estate Finance Trust Inc.净利率更高（-101.7% vs -227.5%，领先125.7%），GRAIL, Inc.同比增速更快（14.0% vs -26.6%），过去两年GRAIL, Inc.的营收复合增速更高（27.7% vs -18.8%）
GRAIL是2015年成立的美国生物技术企业，总部位于加利福尼亚州门洛帕克，核心业务是研发面向无症状人群的癌症早期筛查检测产品。该公司最初是基因测序企业Illumina旗下的初创子公司，2021年被Illumina全资收购。
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。
GRAL vs KREF — 直观对比
营收规模更大
GRAL
是对方的1.7倍
$25.8M
营收增速更快
GRAL
高出40.6%
-26.6%
净利率更高
KREF
高出125.7%
-227.5%
两年增速更快
GRAL
近两年复合增速
-18.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $43.6M | $25.8M |
| 净利润 | $-99.2M | $-26.2M |
| 毛利率 | — | — |
| 营业利润率 | -285.4% | -105.1% |
| 净利率 | -227.5% | -101.7% |
| 营收同比 | 14.0% | -26.6% |
| 净利润同比 | -2.2% | -229.6% |
| 每股收益（稀释后） | $-2.37 | $-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GRALKREF
| Q4 25 | $43.6M | $25.8M | ||
| Q3 25 | $36.2M | $25.3M | ||
| Q2 25 | $35.5M | $30.2M | ||
| Q1 25 | $31.8M | $31.3M | ||
| Q4 24 | $38.3M | $35.1M | ||
| Q3 24 | $28.7M | $37.0M | ||
| Q2 24 | $32.0M | $40.4M | ||
| Q1 24 | $26.7M | $39.1M |
净利润GRALKREF
| Q4 25 | $-99.2M | $-26.2M | ||
| Q3 25 | $-89.0M | $13.8M | ||
| Q2 25 | $-114.0M | $-29.7M | ||
| Q1 25 | $-106.2M | $-4.9M | ||
| Q4 24 | $-97.1M | $20.3M | ||
| Q3 24 | $-125.7M | $-7.4M | ||
| Q2 24 | $-1.6B | $25.8M | ||
| Q1 24 | $-218.9M | $-3.1M |
营业利润率GRALKREF
| Q4 25 | -285.4% | -105.1% | ||
| Q3 25 | -346.2% | 50.4% | ||
| Q2 25 | -446.9% | -101.3% | ||
| Q1 25 | -482.5% | -18.3% | ||
| Q4 24 | -358.0% | 55.8% | ||
| Q3 24 | -640.5% | -19.6% | ||
| Q2 24 | -5133.8% | 63.3% | ||
| Q1 24 | -851.1% | -8.7% |
净利率GRALKREF
| Q4 25 | -227.5% | -101.7% | ||
| Q3 25 | -245.8% | 54.4% | ||
| Q2 25 | -320.7% | -98.5% | ||
| Q1 25 | -333.6% | -15.5% | ||
| Q4 24 | -253.8% | 57.7% | ||
| Q3 24 | -438.7% | -20.0% | ||
| Q2 24 | -4958.8% | 63.9% | ||
| Q1 24 | -819.3% | -7.9% |
每股收益（稀释后）GRALKREF
| Q4 25 | $-2.37 | $-0.49 | ||
| Q3 25 | $-2.46 | $0.12 | ||
| Q2 25 | $-3.18 | $-0.53 | ||
| Q1 25 | $-3.10 | $-0.15 | ||
| Q4 24 | $-1.49 | $0.22 | ||
| Q3 24 | $-3.94 | $-0.19 | ||
| Q2 24 | $-51.06 | $0.29 | ||
| Q1 24 | $-7.05 | $-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 | $249.7M | $84.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $1.2B |
| 总资产 | $2.9B | $6.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资GRALKREF
| Q4 25 | $249.7M | $84.6M | ||
| Q3 25 | $126.9M | $204.1M | ||
| Q2 25 | $127.4M | $107.7M | ||
| Q1 25 | $133.9M | $106.4M | ||
| Q4 24 | $214.2M | $104.9M | ||
| Q3 24 | $853.6M | $108.8M | ||
| Q2 24 | $958.8M | $107.2M | ||
| Q1 24 | $199.7M | $106.5M |
股东权益GRALKREF
| Q4 25 | $2.6B | $1.2B | ||
| Q3 25 | $2.2B | $1.2B | ||
| Q2 25 | $2.3B | $1.2B | ||
| Q1 25 | $2.4B | $1.3B | ||
| Q4 24 | $2.5B | $1.3B | ||
| Q3 24 | $2.6B | $1.4B | ||
| Q2 24 | $2.7B | $1.4B | ||
| Q1 24 | — | $1.4B |
总资产GRALKREF
| Q4 25 | $2.9B | $6.5B | ||
| Q3 25 | $2.6B | $6.5B | ||
| Q2 25 | $2.7B | $6.8B | ||
| Q1 25 | $2.8B | $6.6B | ||
| Q4 24 | $3.0B | $6.4B | ||
| Q3 24 | $3.1B | $6.8B | ||
| Q2 24 | $3.3B | $7.1B | ||
| Q1 24 | — | $7.3B |
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 | $-63.8M | $72.3M |
| 自由现金流经营现金流 - 资本支出 | $-63.9M | — |
| 自由现金流率自由现金流/营收 | -146.5% | — |
| 资本支出强度资本支出/营收 | 0.2% | — |
| 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 | $-299.9M | — |
8季度趋势，按日历期对齐
经营现金流GRALKREF
| Q4 25 | $-63.8M | $72.3M | ||
| Q3 25 | $-63.2M | $18.5M | ||
| Q2 25 | $-77.0M | $21.1M | ||
| Q1 25 | $-95.0M | $15.9M | ||
| Q4 24 | — | $132.6M | ||
| Q3 24 | $-104.6M | $49.1M | ||
| Q2 24 | $-171.8M | $30.6M | ||
| Q1 24 | $-207.3M | $34.5M |
自由现金流GRALKREF
| Q4 25 | $-63.9M | — | ||
| Q3 25 | $-63.6M | — | ||
| Q2 25 | $-77.3M | — | ||
| Q1 25 | $-95.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-105.6M | — | ||
| Q2 24 | $-173.2M | — | ||
| Q1 24 | $-209.8M | — |
自由现金流率GRALKREF
| Q4 25 | -146.5% | — | ||
| Q3 25 | -175.8% | — | ||
| Q2 25 | -217.6% | — | ||
| Q1 25 | -298.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -368.4% | — | ||
| Q2 24 | -541.7% | — | ||
| Q1 24 | -785.3% | — |
资本支出强度GRALKREF
| Q4 25 | 0.2% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.4% | — | ||
| Q2 24 | 4.3% | — | ||
| Q1 24 | 9.5% | — |
现金转化率GRALKREF
| Q4 25 | — | — | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 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
GRAL
| Screening Revenue | $42.3M | 97% |
| Developmental Services Revenue | $1.3M | 3% |
KREF
暂无分部数据
