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KKR Real Estate Finance Trust Inc.（KREF）与NeuroPace Inc（NPCE）财务数据对比。点击上方公司名可切换其他公司
NeuroPace Inc的季度营收约是KKR Real Estate Finance Trust Inc.的1.0倍（$26.6M vs $25.8M），NeuroPace Inc净利率更高（-10.3% vs -101.7%，领先91.5%），NeuroPace Inc同比增速更快（23.9% vs -26.6%），过去两年NeuroPace Inc的营收复合增速更高（21.1% 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。
NeuroPace Inc是一家专注于神经调控技术的医疗科技企业，核心产品为可植入式响应神经刺激系统，主要用于治疗药物难治性癫痫，通过与医疗机构合作，为北美及部分全球市场的患者提供个性化治疗方案，降低癫痫发作频率。
KREF vs NPCE — 直观对比
营收规模更大
NPCE
是对方的1.0倍
$25.8M
营收增速更快
NPCE
高出50.5%
-26.6%
净利率更高
NPCE
高出91.5%
-101.7%
两年增速更快
NPCE
近两年复合增速
-18.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $25.8M | $26.6M |
| 净利润 | $-26.2M | $-2.7M |
| 毛利率 | — | 77.4% |
| 营业利润率 | -105.1% | -6.6% |
| 净利率 | -101.7% | -10.3% |
| 营收同比 | -26.6% | 23.9% |
| 净利润同比 | -229.6% | 48.0% |
| 每股收益（稀释后） | $-0.49 | $-0.08 |
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KREFNPCE
| Q4 25 | $25.8M | $26.6M | ||
| Q3 25 | $25.3M | $27.4M | ||
| Q2 25 | $30.2M | $23.5M | ||
| Q1 25 | $31.3M | $22.5M | ||
| Q4 24 | $35.1M | $21.5M | ||
| Q3 24 | $37.0M | $21.1M | ||
| Q2 24 | $40.4M | $19.3M | ||
| Q1 24 | $39.1M | $18.1M |
净利润KREFNPCE
| Q4 25 | $-26.2M | $-2.7M | ||
| Q3 25 | $13.8M | $-3.5M | ||
| Q2 25 | $-29.7M | $-8.7M | ||
| Q1 25 | $-4.9M | $-6.6M | ||
| Q4 24 | $20.3M | $-5.3M | ||
| Q3 24 | $-7.4M | $-5.5M | ||
| Q2 24 | $25.8M | $-7.5M | ||
| Q1 24 | $-3.1M | $-8.9M |
毛利率KREFNPCE
| Q4 25 | — | 77.4% | ||
| Q3 25 | — | 77.4% | ||
| Q2 25 | — | 77.1% | ||
| Q1 25 | — | 77.0% | ||
| Q4 24 | — | 75.4% | ||
| Q3 24 | — | 73.2% | ||
| Q2 24 | — | 73.4% | ||
| Q1 24 | — | 73.6% |
营业利润率KREFNPCE
| Q4 25 | -105.1% | -6.6% | ||
| Q3 25 | 50.4% | -9.5% | ||
| Q2 25 | -101.3% | -29.0% | ||
| Q1 25 | -18.3% | -22.9% | ||
| Q4 24 | 55.8% | -17.0% | ||
| Q3 24 | -19.6% | -20.1% | ||
| Q2 24 | 63.3% | -32.4% | ||
| Q1 24 | -8.7% | -41.6% |
净利率KREFNPCE
| Q4 25 | -101.7% | -10.3% | ||
| Q3 25 | 54.4% | -12.8% | ||
| Q2 25 | -98.5% | -36.8% | ||
| Q1 25 | -15.5% | -29.3% | ||
| Q4 24 | 57.7% | -24.5% | ||
| Q3 24 | -20.0% | -25.9% | ||
| Q2 24 | 63.9% | -39.0% | ||
| Q1 24 | -7.9% | -49.2% |
每股收益（稀释后）KREFNPCE
| Q4 25 | $-0.49 | $-0.08 | ||
| Q3 25 | $0.12 | $-0.11 | ||
| Q2 25 | $-0.53 | $-0.26 | ||
| Q1 25 | $-0.15 | $-0.21 | ||
| Q4 24 | $0.22 | $-0.16 | ||
| Q3 24 | $-0.19 | $-0.19 | ||
| Q2 24 | $0.29 | $-0.26 | ||
| Q1 24 | $-0.13 | $-0.32 |
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 | $61.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.2B | $19.0M |
| 总资产 | $6.5B | $105.6M |
| 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KREFNPCE
| Q4 25 | $84.6M | $61.1M | ||
| Q3 25 | $204.1M | $60.0M | ||
| Q2 25 | $107.7M | $62.1M | ||
| Q1 25 | $106.4M | $66.3M | ||
| Q4 24 | $104.9M | $52.8M | ||
| Q3 24 | $108.8M | $56.8M | ||
| Q2 24 | $107.2M | $55.5M | ||
| Q1 24 | $106.5M | $58.9M |
股东权益KREFNPCE
| Q4 25 | $1.2B | $19.0M | ||
| Q3 25 | $1.2B | $18.5M | ||
| Q2 25 | $1.2B | $19.4M | ||
| Q1 25 | $1.3B | $24.3M | ||
| Q4 24 | $1.3B | $8.0M | ||
| Q3 24 | $1.4B | $9.8M | ||
| Q2 24 | $1.4B | $9.9M | ||
| Q1 24 | $1.4B | $14.3M |
总资产KREFNPCE
| Q4 25 | $6.5B | $105.6M | ||
| Q3 25 | $6.5B | $107.3M | ||
| Q2 25 | $6.8B | $106.1M | ||
| Q1 25 | $6.6B | $110.2M | ||
| Q4 24 | $6.4B | $94.6M | ||
| Q3 24 | $6.8B | $96.3M | ||
| Q2 24 | $7.1B | $94.4M | ||
| Q1 24 | $7.3B | $98.9M |
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 | $506.0K |
| 自由现金流经营现金流 - 资本支出 | — | $409.0K |
| 自由现金流率自由现金流/营收 | — | 1.5% |
| 资本支出强度资本支出/营收 | — | 0.4% |
| 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 | — | $-11.3M |
8季度趋势，按日历期对齐
经营现金流KREFNPCE
| Q4 25 | $72.3M | $506.0K | ||
| Q3 25 | $18.5M | $-1.9M | ||
| Q2 25 | $21.1M | $-2.1M | ||
| Q1 25 | $15.9M | $-7.5M | ||
| Q4 24 | $132.6M | $-4.8M | ||
| Q3 24 | $49.1M | $-1.7M | ||
| Q2 24 | $30.6M | $-3.9M | ||
| Q1 24 | $34.5M | $-7.5M |
自由现金流KREFNPCE
| Q4 25 | — | $409.0K | ||
| Q3 25 | — | $-2.0M | ||
| Q2 25 | — | $-2.3M | ||
| Q1 25 | — | $-7.5M | ||
| Q4 24 | — | $-4.8M | ||
| Q3 24 | — | $-1.8M | ||
| Q2 24 | — | $-4.0M | ||
| Q1 24 | — | $-7.6M |
自由现金流率KREFNPCE
| Q4 25 | — | 1.5% | ||
| Q3 25 | — | -7.2% | ||
| Q2 25 | — | -9.6% | ||
| Q1 25 | — | -33.4% | ||
| Q4 24 | — | -22.5% | ||
| Q3 24 | — | -8.7% | ||
| Q2 24 | — | -20.6% | ||
| Q1 24 | — | -42.1% |
资本支出强度KREFNPCE
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.6% |
现金转化率KREFNPCE
| 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
