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KKR Real Estate Finance Trust Inc.（KREF）与百捷租车（SMRT）财务数据对比。点击上方公司名可切换其他公司
百捷租车的季度营收约是KKR Real Estate Finance Trust Inc.的1.4倍（$36.5M vs $25.8M），百捷租车净利率更高（-8.9% vs -101.7%，领先92.9%），百捷租车同比增速更快（3.1% vs -26.6%），过去两年百捷租车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。
百捷租车是美国知名汽车租赁企业，1958年由莫里斯·米尔金创立于加州洛杉矶，如今是安飞士百捷集团旗下子品牌，运营总部设在新泽西州帕西帕尼，在全球汽车租赁市场拥有广泛的业务布局与品牌影响力。
KREF vs SMRT — 直观对比
营收规模更大
SMRT
是对方的1.4倍
$25.8M
营收增速更快
SMRT
高出29.7%
-26.6%
净利率更高
SMRT
高出92.9%
-101.7%
两年增速更快
SMRT
近两年复合增速
-18.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $25.8M | $36.5M |
| 净利润 | $-26.2M | $-3.2M |
| 毛利率 | — | 38.6% |
| 营业利润率 | -105.1% | -10.9% |
| 净利率 | -101.7% | -8.9% |
| 营收同比 | -26.6% | 3.1% |
| 净利润同比 | -229.6% | 71.6% |
| 每股收益（稀释后） | $-0.49 | $-0.02 |
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KREFSMRT
| Q4 25 | $25.8M | $36.5M | ||
| Q3 25 | $25.3M | $36.2M | ||
| Q2 25 | $30.2M | $38.3M | ||
| Q1 25 | $31.3M | $41.3M | ||
| Q4 24 | $35.1M | $35.4M | ||
| Q3 24 | $37.0M | $40.5M | ||
| Q2 24 | $40.4M | $48.5M | ||
| Q1 24 | $39.1M | $50.5M |
净利润KREFSMRT
| Q4 25 | $-26.2M | $-3.2M | ||
| Q3 25 | $13.8M | $-6.3M | ||
| Q2 25 | $-29.7M | $-10.9M | ||
| Q1 25 | $-4.9M | $-40.2M | ||
| Q4 24 | $20.3M | $-11.4M | ||
| Q3 24 | $-7.4M | $-9.9M | ||
| Q2 24 | $25.8M | $-4.6M | ||
| Q1 24 | $-3.1M | $-7.7M |
毛利率KREFSMRT
| Q4 25 | — | 38.6% | ||
| Q3 25 | — | 26.4% | ||
| Q2 25 | — | 33.1% | ||
| Q1 25 | — | 32.8% | ||
| Q4 24 | — | 28.7% | ||
| Q3 24 | — | 33.2% | ||
| Q2 24 | — | 35.7% | ||
| Q1 24 | — | 38.5% |
营业利润率KREFSMRT
| Q4 25 | -105.1% | -10.9% | ||
| Q3 25 | 50.4% | -19.4% | ||
| Q2 25 | -101.3% | -30.5% | ||
| Q1 25 | -18.3% | -99.9% | ||
| Q4 24 | 55.8% | -36.6% | ||
| Q3 24 | -19.6% | -29.0% | ||
| Q2 24 | 63.3% | -14.3% | ||
| Q1 24 | -8.7% | -20.1% |
净利率KREFSMRT
| Q4 25 | -101.7% | -8.9% | ||
| Q3 25 | 54.4% | -17.3% | ||
| Q2 25 | -98.5% | -28.3% | ||
| Q1 25 | -15.5% | -97.2% | ||
| Q4 24 | 57.7% | -32.3% | ||
| Q3 24 | -20.0% | -24.5% | ||
| Q2 24 | 63.9% | -9.5% | ||
| Q1 24 | -7.9% | -15.2% |
每股收益（稀释后）KREFSMRT
| Q4 25 | $-0.49 | $-0.02 | ||
| Q3 25 | $0.12 | $-0.03 | ||
| Q2 25 | $-0.53 | $-0.06 | ||
| Q1 25 | $-0.15 | $-0.21 | ||
| Q4 24 | $0.22 | $-0.06 | ||
| Q3 24 | $-0.19 | $-0.05 | ||
| Q2 24 | $0.29 | $-0.02 | ||
| Q1 24 | $-0.13 | $-0.04 |
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 | $104.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.2B | $232.1M |
| 总资产 | $6.5B | $320.9M |
| 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KREFSMRT
| Q4 25 | $84.6M | $104.5M | ||
| Q3 25 | $204.1M | $100.0M | ||
| Q2 25 | $107.7M | $105.0M | ||
| Q1 25 | $106.4M | $125.6M | ||
| Q4 24 | $104.9M | $142.5M | ||
| Q3 24 | $108.8M | $163.4M | ||
| Q2 24 | $107.2M | $187.4M | ||
| Q1 24 | $106.5M | $204.7M |
股东权益KREFSMRT
| Q4 25 | $1.2B | $232.1M | ||
| Q3 25 | $1.2B | $234.4M | ||
| Q2 25 | $1.2B | $238.8M | ||
| Q1 25 | $1.3B | $250.7M | ||
| Q4 24 | $1.3B | $289.4M | ||
| Q3 24 | $1.4B | $305.1M | ||
| Q2 24 | $1.4B | $329.4M | ||
| Q1 24 | $1.4B | $333.1M |
总资产KREFSMRT
| Q4 25 | $6.5B | $320.9M | ||
| Q3 25 | $6.5B | $335.8M | ||
| Q2 25 | $6.8B | $354.0M | ||
| Q1 25 | $6.6B | $366.1M | ||
| Q4 24 | $6.4B | $420.2M | ||
| Q3 24 | $6.8B | $448.6M | ||
| Q2 24 | $7.1B | $475.3M | ||
| Q1 24 | $7.3B | $485.5M |
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 | $7.7M |
| 自由现金流经营现金流 - 资本支出 | — | $7.7M |
| 自由现金流率自由现金流/营收 | — | 21.0% |
| 资本支出强度资本支出/营收 | — | 0.0% |
| 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 | — | $-25.1M |
8季度趋势，按日历期对齐
经营现金流KREFSMRT
| Q4 25 | $72.3M | $7.7M | ||
| Q3 25 | $18.5M | $-2.1M | ||
| Q2 25 | $21.1M | $-14.9M | ||
| Q1 25 | $15.9M | $-12.2M | ||
| Q4 24 | $132.6M | $-12.0M | ||
| Q3 24 | $49.1M | $-3.7M | ||
| Q2 24 | $30.6M | $-13.9M | ||
| Q1 24 | $34.5M | $-3.3M |
自由现金流KREFSMRT
| Q4 25 | — | $7.7M | ||
| Q3 25 | — | $-2.2M | ||
| Q2 25 | — | $-16.2M | ||
| Q1 25 | — | $-14.3M | ||
| Q4 24 | — | $-13.3M | ||
| Q3 24 | — | $-3.9M | ||
| Q2 24 | — | $-14.1M | ||
| Q1 24 | — | $-3.4M |
自由现金流率KREFSMRT
| Q4 25 | — | 21.0% | ||
| Q3 25 | — | -6.1% | ||
| Q2 25 | — | -42.3% | ||
| Q1 25 | — | -34.7% | ||
| Q4 24 | — | -37.5% | ||
| Q3 24 | — | -9.7% | ||
| Q2 24 | — | -29.1% | ||
| Q1 24 | — | -6.7% |
资本支出强度KREFSMRT
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | — | 3.5% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.1% |
现金转化率KREFSMRT
| 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
SMRT
| Hosted Services | $18.1M | 50% |
| Hardware Service | $12.5M | 34% |
| Smart Operations Solutions | $2.6M | 7% |
| Access Control | $2.0M | 5% |
| Other Smart Communities Solutions | $1.3M | 3% |
