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KKR Real Estate Finance Trust Inc.（KREF）与REDWOOD TRUST INC（RWT）财务数据对比。点击上方公司名可切换其他公司
REDWOOD TRUST INC的季度营收约是KKR Real Estate Finance Trust Inc.的1.0倍（$25.9M vs $25.8M），REDWOOD TRUST INC净利率更高（77.2% vs -101.7%，领先179.0%），REDWOOD TRUST INC同比增速更快（-6.1% vs -26.6%），过去两年KKR Real Estate Finance Trust Inc.的营收复合增速更高（-18.8% vs -41.0%）
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。
Redwood Trust Inc是总部位于美国的专业房地产投资信托公司，主营住宅与商业抵押贷款、抵押贷款支持证券及房地产信贷类资产的投资管理，核心业务覆盖住宅抵押贷款发放、商业地产信贷和投资服务，客户以机构投资者和房地产市场参与者为主。
KREF vs RWT — 直观对比
营收规模更大
RWT
是对方的1.0倍
$25.8M
营收增速更快
RWT
高出20.5%
-26.6%
净利率更高
RWT
高出179.0%
-101.7%
两年增速更快
KREF
近两年复合增速
-41.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $25.8M | $25.9M |
| 净利润 | $-26.2M | $20.0M |
| 毛利率 | — | — |
| 营业利润率 | -105.1% | — |
| 净利率 | -101.7% | 77.2% |
| 营收同比 | -26.6% | -6.1% |
| 净利润同比 | -229.6% | 402.6% |
| 每股收益（稀释后） | $-0.49 | $0.11 |
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KREFRWT
| Q4 25 | $25.8M | $25.9M | ||
| Q3 25 | $25.3M | $15.0M | ||
| Q2 25 | $30.2M | $13.8M | ||
| Q1 25 | $31.3M | $27.9M | ||
| Q4 24 | $35.1M | $27.6M | ||
| Q3 24 | $37.0M | $25.5M | ||
| Q2 24 | $40.4M | $67.4M | ||
| Q1 24 | $39.1M | $74.5M |
净利润KREFRWT
| Q4 25 | $-26.2M | $20.0M | ||
| Q3 25 | $13.8M | $-7.7M | ||
| Q2 25 | $-29.7M | $-98.5M | ||
| Q1 25 | $-4.9M | $16.1M | ||
| Q4 24 | $20.3M | $-6.6M | ||
| Q3 24 | $-7.4M | $14.8M | ||
| Q2 24 | $25.8M | $15.5M | ||
| Q1 24 | $-3.1M | $30.3M |
营业利润率KREFRWT
| Q4 25 | -105.1% | — | ||
| Q3 25 | 50.4% | -9.0% | ||
| Q2 25 | -101.3% | -679.0% | ||
| Q1 25 | -18.3% | 80.2% | ||
| Q4 24 | 55.8% | -1.3% | ||
| Q3 24 | -19.6% | 86.1% | ||
| Q2 24 | 63.3% | 30.3% | ||
| Q1 24 | -8.7% | 41.3% |
净利率KREFRWT
| Q4 25 | -101.7% | 77.2% | ||
| Q3 25 | 54.4% | -51.4% | ||
| Q2 25 | -98.5% | -712.0% | ||
| Q1 25 | -15.5% | 57.8% | ||
| Q4 24 | 57.7% | -24.0% | ||
| Q3 24 | -20.0% | 58.1% | ||
| Q2 24 | 63.9% | 23.0% | ||
| Q1 24 | -7.9% | 40.6% |
每股收益（稀释后）KREFRWT
| Q4 25 | $-0.49 | $0.11 | ||
| Q3 25 | $0.12 | $-0.08 | ||
| Q2 25 | $-0.53 | $-0.76 | ||
| Q1 25 | $-0.15 | $0.10 | ||
| Q4 24 | $0.22 | $-0.08 | ||
| Q3 24 | $-0.19 | $0.09 | ||
| Q2 24 | $0.29 | $0.10 | ||
| Q1 24 | $-0.13 | $0.21 |
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 | $255.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.2B | $982.6M |
| 总资产 | $6.5B | $23.7B |
| 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KREFRWT
| Q4 25 | $84.6M | $255.7M | ||
| Q3 25 | $204.1M | $226.3M | ||
| Q2 25 | $107.7M | $302.0M | ||
| Q1 25 | $106.4M | $259.9M | ||
| Q4 24 | $104.9M | $245.2M | ||
| Q3 24 | $108.8M | $253.7M | ||
| Q2 24 | $107.2M | $275.6M | ||
| Q1 24 | $106.5M | $275.4M |
总债务KREFRWT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.7B |
股东权益KREFRWT
| Q4 25 | $1.2B | $982.6M | ||
| Q3 25 | $1.2B | $999.0M | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.3B | $1.2B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.4B | $1.2B |
总资产KREFRWT
| Q4 25 | $6.5B | $23.7B | ||
| Q3 25 | $6.5B | $22.6B | ||
| Q2 25 | $6.8B | $21.3B | ||
| Q1 25 | $6.6B | $19.9B | ||
| Q4 24 | $6.4B | $18.3B | ||
| Q3 24 | $6.8B | $18.4B | ||
| Q2 24 | $7.1B | $16.5B | ||
| Q1 24 | $7.3B | $15.1B |
负债/权益比KREFRWT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.39× |
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 | $-10.1B |
| 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 | — | -504.15× |
| 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KREFRWT
| Q4 25 | $72.3M | $-10.1B | ||
| Q3 25 | $18.5M | $-2.7B | ||
| Q2 25 | $21.1M | $-2.1B | ||
| Q1 25 | $15.9M | $-2.0B | ||
| Q4 24 | $132.6M | $-5.9B | ||
| Q3 24 | $49.1M | $-2.1B | ||
| Q2 24 | $30.6M | $-2.0B | ||
| Q1 24 | $34.5M | $-954.2M |
现金转化率KREFRWT
| Q4 25 | — | -504.15× | ||
| Q3 25 | 1.34× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -120.92× | ||
| Q4 24 | 6.54× | — | ||
| Q3 24 | — | -140.86× | ||
| Q2 24 | 1.19× | -126.56× | ||
| Q1 24 | — | -31.53× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
