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KKR Real Estate Finance Trust Inc.（KREF）与NATIONAL RESEARCH CORP（NRC）财务数据对比。点击上方公司名可切换其他公司
NATIONAL RESEARCH CORP的季度营收约是KKR Real Estate Finance Trust Inc.的1.4倍（$35.2M vs $25.8M），NATIONAL RESEARCH CORP净利率更高（5.1% vs -101.7%，领先106.9%），NATIONAL RESEARCH CORP同比增速更快（-4.6% vs -26.6%），过去两年NATIONAL RESEARCH CORP的营收复合增速更高（-0.2% 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。
NRC Health（原国家研究公司）是一家美国医疗健康企业，1981年成立，总部位于内布拉斯加州林肯市。公司主要在美加两国提供医疗健康相关产品及订阅式解决方案，深耕区域医疗健康服务领域。
KREF vs NRC — 直观对比
营收规模更大
NRC
是对方的1.4倍
$25.8M
营收增速更快
NRC
高出21.9%
-26.6%
净利率更高
NRC
高出106.9%
-101.7%
两年增速更快
NRC
近两年复合增速
-18.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $25.8M | $35.2M |
| 净利润 | $-26.2M | $1.8M |
| 毛利率 | — | — |
| 营业利润率 | -105.1% | 13.3% |
| 净利率 | -101.7% | 5.1% |
| 营收同比 | -26.6% | -4.6% |
| 净利润同比 | -229.6% | -72.6% |
| 每股收益（稀释后） | $-0.49 | $49.58 |
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KREFNRC
| Q4 25 | $25.8M | $35.2M | ||
| Q3 25 | $25.3M | $34.6M | ||
| Q2 25 | $30.2M | $34.0M | ||
| Q1 25 | $31.3M | $33.6M | ||
| Q4 24 | $35.1M | $36.9M | ||
| Q3 24 | $37.0M | $35.8M | ||
| Q2 24 | $40.4M | $35.0M | ||
| Q1 24 | $39.1M | $35.3M |
净利润KREFNRC
| Q4 25 | $-26.2M | $1.8M | ||
| Q3 25 | $13.8M | $4.1M | ||
| Q2 25 | $-29.7M | $-106.0K | ||
| Q1 25 | $-4.9M | $5.8M | ||
| Q4 24 | $20.3M | $6.6M | ||
| Q3 24 | $-7.4M | $5.7M | ||
| Q2 24 | $25.8M | $6.2M | ||
| Q1 24 | $-3.1M | $6.4M |
营业利润率KREFNRC
| Q4 25 | -105.1% | 13.3% | ||
| Q3 25 | 50.4% | 22.4% | ||
| Q2 25 | -101.3% | 4.7% | ||
| Q1 25 | -18.3% | 25.6% | ||
| Q4 24 | 55.8% | 26.0% | ||
| Q3 24 | -19.6% | 22.3% | ||
| Q2 24 | 63.3% | 25.3% | ||
| Q1 24 | -8.7% | 24.8% |
净利率KREFNRC
| Q4 25 | -101.7% | 5.1% | ||
| Q3 25 | 54.4% | 11.9% | ||
| Q2 25 | -98.5% | -0.3% | ||
| Q1 25 | -15.5% | 17.2% | ||
| Q4 24 | 57.7% | 17.8% | ||
| Q3 24 | -20.0% | 15.9% | ||
| Q2 24 | 63.9% | 17.6% | ||
| Q1 24 | -7.9% | 18.0% |
每股收益（稀释后）KREFNRC
| Q4 25 | $-0.49 | $49.58 | ||
| Q3 25 | $0.12 | $0.18 | ||
| Q2 25 | $-0.53 | $-0.01 | ||
| Q1 25 | $-0.15 | $0.25 | ||
| Q4 24 | $0.22 | $0.27 | ||
| Q3 24 | $-0.19 | $0.24 | ||
| Q2 24 | $0.29 | $0.26 | ||
| Q1 24 | $-0.13 | $0.27 |
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 | $4.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.2B | $14.0M |
| 总资产 | $6.5B | $134.9M |
| 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KREFNRC
| Q4 25 | $84.6M | $4.1M | ||
| Q3 25 | $204.1M | $2.2M | ||
| Q2 25 | $107.7M | $5.3M | ||
| Q1 25 | $106.4M | $2.5M | ||
| Q4 24 | $104.9M | $4.2M | ||
| Q3 24 | $108.8M | $3.5M | ||
| Q2 24 | $107.2M | $485.0K | ||
| Q1 24 | $106.5M | $1.7M |
总债务KREFNRC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $48.7M | ||
| Q2 24 | — | $33.3M | ||
| Q1 24 | — | $35.2M |
股东权益KREFNRC
| Q4 25 | $1.2B | $14.0M | ||
| Q3 25 | $1.2B | $14.3M | ||
| Q2 25 | $1.2B | $21.3M | ||
| Q1 25 | $1.3B | $29.7M | ||
| Q4 24 | $1.3B | $31.3M | ||
| Q3 24 | $1.4B | $34.6M | ||
| Q2 24 | $1.4B | $40.2M | ||
| Q1 24 | $1.4B | $36.9M |
总资产KREFNRC
| Q4 25 | $6.5B | $134.9M | ||
| Q3 25 | $6.5B | $135.7M | ||
| Q2 25 | $6.8B | $141.4M | ||
| Q1 25 | $6.6B | $135.2M | ||
| Q4 24 | $6.4B | $132.5M | ||
| Q3 24 | $6.8B | $131.8M | ||
| Q2 24 | $7.1B | $119.1M | ||
| Q1 24 | $7.3B | $120.9M |
负债/权益比KREFNRC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 0.83× | ||
| Q1 24 | — | 0.95× |
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 | $7.2M |
| 自由现金流经营现金流 - 资本支出 | — | $6.1M |
| 自由现金流率自由现金流/营收 | — | 17.2% |
| 资本支出强度资本支出/营收 | — | 3.2% |
| 现金转化率经营现金流/净利润 | — | 3.99× |
| 过去12个月自由现金流最近4个季度 | — | $15.7M |
8季度趋势，按日历期对齐
经营现金流KREFNRC
| Q4 25 | $72.3M | $7.2M | ||
| Q3 25 | $18.5M | $13.8M | ||
| Q2 25 | $21.1M | $-1.1M | ||
| Q1 25 | $15.9M | $6.6M | ||
| Q4 24 | $132.6M | $6.4M | ||
| Q3 24 | $49.1M | $9.4M | ||
| Q2 24 | $30.6M | $6.8M | ||
| Q1 24 | $34.5M | $12.0M |
自由现金流KREFNRC
| Q4 25 | — | $6.1M | ||
| Q3 25 | — | $10.2M | ||
| Q2 25 | — | $-4.1M | ||
| Q1 25 | — | $3.7M | ||
| Q4 24 | — | $1.9M | ||
| Q3 24 | — | $7.8M | ||
| Q2 24 | — | $1.5M | ||
| Q1 24 | — | $7.9M |
自由现金流率KREFNRC
| Q4 25 | — | 17.2% | ||
| Q3 25 | — | 29.4% | ||
| Q2 25 | — | -12.2% | ||
| Q1 25 | — | 10.9% | ||
| Q4 24 | — | 5.2% | ||
| Q3 24 | — | 21.8% | ||
| Q2 24 | — | 4.3% | ||
| Q1 24 | — | 22.4% |
资本支出强度KREFNRC
| Q4 25 | — | 3.2% | ||
| Q3 25 | — | 10.4% | ||
| Q2 25 | — | 8.8% | ||
| Q1 25 | — | 8.9% | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | — | 4.5% | ||
| Q2 24 | — | 15.0% | ||
| Q1 24 | — | 11.7% |
现金转化率KREFNRC
| Q4 25 | — | 3.99× | ||
| Q3 25 | 1.34× | 3.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.15× | ||
| Q4 24 | 6.54× | 0.97× | ||
| Q3 24 | — | 1.66× | ||
| Q2 24 | 1.19× | 1.10× | ||
| Q1 24 | — | 1.89× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
