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KKR Real Estate Finance Trust Inc.（KREF）与湘南美容医疗集团（SBC）财务数据对比。点击上方公司名可切换其他公司
湘南美容医疗集团的季度营收约是KKR Real Estate Finance Trust Inc.的1.5倍（$39.6M vs $25.8M），湘南美容医疗集团净利率更高（35.9% vs -101.7%，领先137.6%），湘南美容医疗集团同比增速更快（-10.9% vs -26.6%），过去两年湘南美容医疗集团的营收复合增速更高（-15.0% 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。
湘南美容医疗集团是总部位于日本的知名医疗服务提供商，核心业务覆盖美容整形、皮肤科诊疗、抗衰老健康护理等领域，在日本各地运营大量连锁诊所，同时服务本地居民及赴日就医的国际游客。
KREF vs SBC — 直观对比
营收规模更大
SBC
是对方的1.5倍
$25.8M
营收增速更快
SBC
高出15.7%
-26.6%
净利率更高
SBC
高出137.6%
-101.7%
两年增速更快
SBC
近两年复合增速
-18.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $25.8M | $39.6M |
| 净利润 | $-26.2M | $14.2M |
| 毛利率 | — | 73.1% |
| 营业利润率 | -105.1% | 32.5% |
| 净利率 | -101.7% | 35.9% |
| 营收同比 | -26.6% | -10.9% |
| 净利润同比 | -229.6% | 117.2% |
| 每股收益（稀释后） | $-0.49 | $0.15 |
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KREFSBC
| Q4 25 | $25.8M | $39.6M | ||
| Q3 25 | $25.3M | $43.4M | ||
| Q2 25 | $30.2M | $43.4M | ||
| Q1 25 | $31.3M | $47.3M | ||
| Q4 24 | $35.1M | $44.4M | ||
| Q3 24 | $37.0M | $53.1M | ||
| Q2 24 | $40.4M | $53.1M | ||
| Q1 24 | $39.1M | $54.8M |
净利润KREFSBC
| Q4 25 | $-26.2M | $14.2M | ||
| Q3 25 | $13.8M | $12.8M | ||
| Q2 25 | $-29.7M | $2.5M | ||
| Q1 25 | $-4.9M | $21.5M | ||
| Q4 24 | $20.3M | $6.5M | ||
| Q3 24 | $-7.4M | $2.8M | ||
| Q2 24 | $25.8M | $18.5M | ||
| Q1 24 | $-3.1M | $18.8M |
毛利率KREFSBC
| Q4 25 | — | 73.1% | ||
| Q3 25 | — | 70.6% | ||
| Q2 25 | — | 69.2% | ||
| Q1 25 | — | 79.7% | ||
| Q4 24 | — | 76.3% | ||
| Q3 24 | — | 81.5% | ||
| Q2 24 | — | 74.2% | ||
| Q1 24 | — | 72.1% |
营业利润率KREFSBC
| Q4 25 | -105.1% | 32.5% | ||
| Q3 25 | 50.4% | 36.6% | ||
| Q2 25 | -101.3% | 33.6% | ||
| Q1 25 | -18.3% | 51.1% | ||
| Q4 24 | 55.8% | 10.6% | ||
| Q3 24 | -19.6% | 26.1% | ||
| Q2 24 | 63.3% | 51.4% | ||
| Q1 24 | -8.7% | 44.6% |
净利率KREFSBC
| Q4 25 | -101.7% | 35.9% | ||
| Q3 25 | 54.4% | 29.6% | ||
| Q2 25 | -98.5% | 5.7% | ||
| Q1 25 | -15.5% | 45.4% | ||
| Q4 24 | 57.7% | 14.7% | ||
| Q3 24 | -20.0% | 5.3% | ||
| Q2 24 | 63.9% | 34.8% | ||
| Q1 24 | -7.9% | 34.2% |
每股收益（稀释后）KREFSBC
| Q4 25 | $-0.49 | $0.15 | ||
| Q3 25 | $0.12 | $0.12 | ||
| Q2 25 | $-0.53 | $0.02 | ||
| Q1 25 | $-0.15 | $0.21 | ||
| Q4 24 | $0.22 | $0.05 | ||
| Q3 24 | $-0.19 | $0.03 | ||
| Q2 24 | $0.29 | $0.20 | ||
| Q1 24 | $-0.13 | $0.20 |
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 | $164.1M |
| 总债务越低越好 | — | $42.8M |
| 股东权益账面价值 | $1.2B | $248.3M |
| 总资产 | $6.5B | $380.4M |
| 负债/权益比越低杠杆越低 | — | 0.17× |
8季度趋势，按日历期对齐
现金及短期投资KREFSBC
| Q4 25 | $84.6M | $164.1M | ||
| Q3 25 | $204.1M | $127.4M | ||
| Q2 25 | $107.7M | $152.7M | ||
| Q1 25 | $106.4M | $132.1M | ||
| Q4 24 | $104.9M | $125.0M | ||
| Q3 24 | $108.8M | $137.4M | ||
| Q2 24 | $107.2M | — | ||
| Q1 24 | $106.5M | — |
总债务KREFSBC
| Q4 25 | — | $42.8M | ||
| Q3 25 | — | $21.1M | ||
| Q2 25 | — | $7.1M | ||
| Q1 25 | — | $6.9M | ||
| Q4 24 | — | $6.6M | ||
| Q3 24 | — | $823.2K | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益KREFSBC
| Q4 25 | $1.2B | $248.3M | ||
| Q3 25 | $1.2B | $248.0M | ||
| Q2 25 | $1.2B | $244.6M | ||
| Q1 25 | $1.3B | $226.4M | ||
| Q4 24 | $1.3B | $195.1M | ||
| Q3 24 | $1.4B | $205.0M | ||
| Q2 24 | $1.4B | $8.8M | ||
| Q1 24 | $1.4B | $9.0M |
总资产KREFSBC
| Q4 25 | $6.5B | $380.4M | ||
| Q3 25 | $6.5B | $321.4M | ||
| Q2 25 | $6.8B | $315.3M | ||
| Q1 25 | $6.6B | $284.6M | ||
| Q4 24 | $6.4B | $266.1M | ||
| Q3 24 | $6.8B | $296.5M | ||
| Q2 24 | $7.1B | $19.5M | ||
| Q1 24 | $7.3B | $19.8M |
负债/权益比KREFSBC
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.09× | ||
| Q2 25 | — | 0.03× | ||
| Q1 25 | — | 0.03× | ||
| Q4 24 | — | 0.03× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $52.0M |
| 自由现金流经营现金流 - 资本支出 | — | $51.2M |
| 自由现金流率自由现金流/营收 | — | 129.3% |
| 资本支出强度资本支出/营收 | — | 2.0% |
| 现金转化率经营现金流/净利润 | — | 3.66× |
| 过去12个月自由现金流最近4个季度 | — | $23.3M |
8季度趋势，按日历期对齐
经营现金流KREFSBC
| Q4 25 | $72.3M | $52.0M | ||
| Q3 25 | $18.5M | $-20.9M | ||
| Q2 25 | $21.1M | $-8.3M | ||
| Q1 25 | $15.9M | $1.9M | ||
| Q4 24 | $132.6M | $-7.3M | ||
| Q3 24 | $49.1M | $5.0M | ||
| Q2 24 | $30.6M | $19.2M | ||
| Q1 24 | $34.5M | $3.7M |
自由现金流KREFSBC
| Q4 25 | — | $51.2M | ||
| Q3 25 | — | $-20.9M | ||
| Q2 25 | — | $-8.6M | ||
| Q1 25 | — | $1.7M | ||
| Q4 24 | — | $-7.9M | ||
| Q3 24 | — | $4.6M | ||
| Q2 24 | — | $18.3M | ||
| Q1 24 | — | $3.0M |
自由现金流率KREFSBC
| Q4 25 | — | 129.3% | ||
| Q3 25 | — | -48.3% | ||
| Q2 25 | — | -19.9% | ||
| Q1 25 | — | 3.5% | ||
| Q4 24 | — | -17.8% | ||
| Q3 24 | — | 8.7% | ||
| Q2 24 | — | 34.5% | ||
| Q1 24 | — | 5.4% |
资本支出强度KREFSBC
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | 1.3% |
现金转化率KREFSBC
| Q4 25 | — | 3.66× | ||
| Q3 25 | 1.34× | -1.63× | ||
| Q2 25 | — | -3.39× | ||
| Q1 25 | — | 0.09× | ||
| Q4 24 | 6.54× | -1.12× | ||
| Q3 24 | — | 1.77× | ||
| Q2 24 | 1.19× | 1.04× | ||
| Q1 24 | — | 0.20× |
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
SBC
| Franchising | $10.3M | 26% |
| Medical Corporation Shobikai | $8.1M | 21% |
| Medical Corporation Nasukai | $7.2M | 18% |
| Management Services | $6.3M | 16% |
| Rental Services | $4.3M | 11% |
| Medical Corporation Association Furinkai | $3.0M | 8% |
| Japan Medical And Beauty Inc | $656.5K | 2% |
