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KKR Real Estate Finance Trust Inc.（KREF）与LIGHTPATH TECHNOLOGIES INC（LPTH）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LIGHTPATH TECHNOLOGIES INC的1.6倍（$25.8M vs $16.4M），LIGHTPATH TECHNOLOGIES INC净利率更高（-57.5% vs -101.7%，领先44.2%），LIGHTPATH TECHNOLOGIES INC同比增速更快（120.2% vs -26.6%），过去两年LIGHTPATH TECHNOLOGIES INC的营收复合增速更高（45.7% vs -18.8%）
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。
LightPath Technologies Inc是一家精密光学组件及组件生产商，主营非球面透镜、红外光学器件、光纤产品等，服务工业自动化、航空航天、国防、医疗成像、电信等领域的全球客户，提供标准及定制化光学解决方案。
KREF vs LPTH — 直观对比
营收规模更大
KREF
是对方的1.6倍
$16.4M
营收增速更快
LPTH
高出146.8%
-26.6%
净利率更高
LPTH
高出44.2%
-101.7%
两年增速更快
LPTH
近两年复合增速
-18.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $25.8M | $16.4M |
| 净利润 | $-26.2M | $-9.4M |
| 毛利率 | — | 36.8% |
| 营业利润率 | -105.1% | -52.6% |
| 净利率 | -101.7% | -57.5% |
| 营收同比 | -26.6% | 120.2% |
| 净利润同比 | -229.6% | -260.1% |
| 每股收益（稀释后） | $-0.49 | $-0.20 |
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KREFLPTH
| Q4 25 | $25.8M | $16.4M | ||
| Q3 25 | $25.3M | $15.1M | ||
| Q2 25 | $30.2M | $12.2M | ||
| Q1 25 | $31.3M | $9.2M | ||
| Q4 24 | $35.1M | $7.4M | ||
| Q3 24 | $37.0M | $8.4M | ||
| Q2 24 | $40.4M | $8.6M | ||
| Q1 24 | $39.1M | $7.7M |
净利润KREFLPTH
| Q4 25 | $-26.2M | $-9.4M | ||
| Q3 25 | $13.8M | $-2.9M | ||
| Q2 25 | $-29.7M | $-7.1M | ||
| Q1 25 | $-4.9M | $-3.6M | ||
| Q4 24 | $20.3M | $-2.6M | ||
| Q3 24 | $-7.4M | $-1.6M | ||
| Q2 24 | $25.8M | $-2.4M | ||
| Q1 24 | $-3.1M | $-2.6M |
毛利率KREFLPTH
| Q4 25 | — | 36.8% | ||
| Q3 25 | — | 29.8% | ||
| Q2 25 | — | 22.0% | ||
| Q1 25 | — | 29.1% | ||
| Q4 24 | — | 26.0% | ||
| Q3 24 | — | 33.9% | ||
| Q2 24 | — | 29.2% | ||
| Q1 24 | — | 20.9% |
营业利润率KREFLPTH
| Q4 25 | -105.1% | -52.6% | ||
| Q3 25 | 50.4% | -16.6% | ||
| Q2 25 | -101.3% | -38.0% | ||
| Q1 25 | -18.3% | -36.3% | ||
| Q4 24 | 55.8% | -33.5% | ||
| Q3 24 | -19.6% | -16.4% | ||
| Q2 24 | 63.3% | -25.6% | ||
| Q1 24 | -8.7% | -33.6% |
净利率KREFLPTH
| Q4 25 | -101.7% | -57.5% | ||
| Q3 25 | 54.4% | -19.2% | ||
| Q2 25 | -98.5% | -57.8% | ||
| Q1 25 | -15.5% | -39.1% | ||
| Q4 24 | 57.7% | -35.2% | ||
| Q3 24 | -20.0% | -19.3% | ||
| Q2 24 | 63.9% | -27.3% | ||
| Q1 24 | -7.9% | -33.7% |
每股收益（稀释后）KREFLPTH
| Q4 25 | $-0.49 | $-0.20 | ||
| Q3 25 | $0.12 | $-0.07 | ||
| Q2 25 | $-0.53 | $0.19 | ||
| Q1 25 | $-0.15 | $-0.44 | ||
| Q4 24 | $0.22 | $-0.07 | ||
| Q3 24 | $-0.19 | $-0.04 | ||
| Q2 24 | $0.29 | $-0.15 | ||
| Q1 24 | $-0.13 | $-0.07 |
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 | $84.6M | $73.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.2B | $77.9M |
| 总资产 | $6.5B | $148.6M |
| 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KREFLPTH
| Q4 25 | $84.6M | $73.6M | ||
| Q3 25 | $204.1M | — | ||
| Q2 25 | $107.7M | $4.9M | ||
| Q1 25 | $106.4M | — | ||
| Q4 24 | $104.9M | — | ||
| Q3 24 | $108.8M | — | ||
| Q2 24 | $107.2M | — | ||
| Q1 24 | $106.5M | — |
总债务KREFLPTH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $535.0K | ||
| Q1 24 | — | $599.4K |
股东权益KREFLPTH
| Q4 25 | $1.2B | $77.9M | ||
| Q3 25 | $1.2B | $21.4M | ||
| Q2 25 | $1.2B | $15.6M | ||
| Q1 25 | $1.3B | $15.7M | ||
| Q4 24 | $1.3B | $26.7M | ||
| Q3 24 | $1.4B | $29.4M | ||
| Q2 24 | $1.4B | $30.2M | ||
| Q1 24 | $1.4B | $31.7M |
总资产KREFLPTH
| Q4 25 | $6.5B | $148.6M | ||
| Q3 25 | $6.5B | $87.3M | ||
| Q2 25 | $6.8B | $81.5M | ||
| Q1 25 | $6.6B | $81.4M | ||
| Q4 24 | $6.4B | $45.8M | ||
| Q3 24 | $6.8B | $48.4M | ||
| Q2 24 | $7.1B | $48.1M | ||
| Q1 24 | $7.3B | $49.7M |
负债/权益比KREFLPTH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.02× | ||
| Q1 24 | — | 0.02× |
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 | $72.3M | $2.8M |
| 自由现金流经营现金流 - 资本支出 | — | $2.0M |
| 自由现金流率自由现金流/营收 | — | 12.0% |
| 资本支出强度资本支出/营收 | — | 5.3% |
| 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 | — | $-6.3M |
8季度趋势，按日历期对齐
经营现金流KREFLPTH
| Q4 25 | $72.3M | $2.8M | ||
| Q3 25 | $18.5M | $-1.1M | ||
| Q2 25 | $21.1M | $-2.6M | ||
| Q1 25 | $15.9M | $-3.2M | ||
| Q4 24 | $132.6M | $-737.4K | ||
| Q3 24 | $49.1M | $-1.7M | ||
| Q2 24 | $30.6M | $64.7K | ||
| Q1 24 | $34.5M | $-394.2K |
自由现金流KREFLPTH
| Q4 25 | — | $2.0M | ||
| Q3 25 | — | $-1.2M | ||
| Q2 25 | — | $-3.3M | ||
| Q1 25 | — | $-3.7M | ||
| Q4 24 | — | $-817.8K | ||
| Q3 24 | — | $-1.8M | ||
| Q2 24 | — | $-225.5K | ||
| Q1 24 | — | $-802.5K |
自由现金流率KREFLPTH
| Q4 25 | — | 12.0% | ||
| Q3 25 | — | -8.1% | ||
| Q2 25 | — | -27.3% | ||
| Q1 25 | — | -40.0% | ||
| Q4 24 | — | -11.0% | ||
| Q3 24 | — | -21.2% | ||
| Q2 24 | — | -2.6% | ||
| Q1 24 | — | -10.4% |
资本支出强度KREFLPTH
| Q4 25 | — | 5.3% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | 5.6% | ||
| Q1 25 | — | 4.6% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 3.4% | ||
| Q1 24 | — | 5.3% |
现金转化率KREFLPTH
| 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
KREF
暂无分部数据
LPTH
| Other | $7.9M | 48% |
| Infrared Components | $5.0M | 31% |
| Visible Components | $3.4M | 21% |
