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KKR Real Estate Finance Trust Inc.（KREF）与Spire Global, Inc.（SPIR）财务数据对比。点击上方公司名可切换其他公司
KKR Real Estate Finance Trust Inc.的季度营收约是Spire Global, Inc.的1.6倍（$25.8M vs $15.8M），KKR Real Estate Finance Trust Inc.净利率更高（-101.7% vs -176.6%，领先74.9%），KKR Real Estate Finance Trust Inc.同比增速更快（-26.6% vs -26.9%），过去两年KKR Real Estate Finance Trust Inc.的营收复合增速更高（-18.8% vs -32.6%）
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。
Spire Global, Inc.是一家天基云数据与分析服务企业，核心业务依托由大量纳米卫星组成的卫星星座，提供覆盖全球的多领域数据集追踪服务，具体包含船舶航运追踪、航空航行监控以及气象模式观测等相关业务，服务覆盖全球范围。
KREF vs SPIR — 直观对比
营收规模更大
KREF
是对方的1.6倍
$15.8M
营收增速更快
KREF
高出0.3%
-26.9%
净利率更高
KREF
高出74.9%
-176.6%
两年增速更快
KREF
近两年复合增速
-32.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $25.8M | $15.8M |
| 净利润 | $-26.2M | $-28.0M |
| 毛利率 | — | 40.2% |
| 营业利润率 | -105.1% | -164.1% |
| 净利率 | -101.7% | -176.6% |
| 营收同比 | -26.6% | -26.9% |
| 净利润同比 | -229.6% | 42.7% |
| 每股收益（稀释后） | $-0.49 | $-0.85 |
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KREFSPIR
| Q4 25 | $25.8M | $15.8M | ||
| Q3 25 | $25.3M | $12.7M | ||
| Q2 25 | $30.2M | $19.2M | ||
| Q1 25 | $31.3M | $23.9M | ||
| Q4 24 | $35.1M | $21.7M | ||
| Q3 24 | $37.0M | $28.6M | ||
| Q2 24 | $40.4M | $25.4M | ||
| Q1 24 | $39.1M | $34.8M |
净利润KREFSPIR
| Q4 25 | $-26.2M | $-28.0M | ||
| Q3 25 | $13.8M | $-19.7M | ||
| Q2 25 | $-29.7M | $119.6M | ||
| Q1 25 | $-4.9M | $-20.7M | ||
| Q4 24 | $20.3M | $-48.8M | ||
| Q3 24 | $-7.4M | $-12.5M | ||
| Q2 24 | $25.8M | $-16.6M | ||
| Q1 24 | $-3.1M | $-25.5M |
毛利率KREFSPIR
| Q4 25 | — | 40.2% | ||
| Q3 25 | — | 36.6% | ||
| Q2 25 | — | 48.9% | ||
| Q1 25 | — | 36.8% | ||
| Q4 24 | — | 32.4% | ||
| Q3 24 | — | 44.5% | ||
| Q2 24 | — | 43.0% | ||
| Q1 24 | — | 26.5% |
营业利润率KREFSPIR
| Q4 25 | -105.1% | -164.1% | ||
| Q3 25 | 50.4% | -166.1% | ||
| Q2 25 | -101.3% | -122.7% | ||
| Q1 25 | -18.3% | -106.5% | ||
| Q4 24 | 55.8% | -144.1% | ||
| Q3 24 | -19.6% | -48.0% | ||
| Q2 24 | 63.3% | -48.6% | ||
| Q1 24 | -8.7% | -34.4% |
净利率KREFSPIR
| Q4 25 | -101.7% | -176.6% | ||
| Q3 25 | 54.4% | -155.3% | ||
| Q2 25 | -98.5% | 623.4% | ||
| Q1 25 | -15.5% | -86.5% | ||
| Q4 24 | 57.7% | -225.2% | ||
| Q3 24 | -20.0% | -43.7% | ||
| Q2 24 | 63.9% | -65.2% | ||
| Q1 24 | -7.9% | -73.3% |
每股收益（稀释后）KREFSPIR
| Q4 25 | $-0.49 | $-0.85 | ||
| Q3 25 | $0.12 | $-0.61 | ||
| Q2 25 | $-0.53 | $3.72 | ||
| Q1 25 | $-0.15 | $-0.77 | ||
| Q4 24 | $0.22 | $-1.93 | ||
| Q3 24 | $-0.19 | $-0.50 | ||
| Q2 24 | $0.29 | $-0.68 | ||
| Q1 24 | $-0.13 | $-1.17 |
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 | $81.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.2B | $112.9M |
| 总资产 | $6.5B | $211.0M |
| 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KREFSPIR
| Q4 25 | $84.6M | $81.8M | ||
| Q3 25 | $204.1M | $96.8M | ||
| Q2 25 | $107.7M | $117.6M | ||
| Q1 25 | $106.4M | $35.9M | ||
| Q4 24 | $104.9M | $19.2M | ||
| Q3 24 | $108.8M | $36.6M | ||
| Q2 24 | $107.2M | $45.8M | ||
| Q1 24 | $106.5M | $63.7M |
总债务KREFSPIR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $103.7M | ||
| Q4 24 | — | $103.1M | ||
| Q3 24 | — | $4.9M | ||
| Q2 24 | — | $4.9M | ||
| Q1 24 | — | $123.1M |
股东权益KREFSPIR
| Q4 25 | $1.2B | $112.9M | ||
| Q3 25 | $1.2B | $133.1M | ||
| Q2 25 | $1.2B | $149.2M | ||
| Q1 25 | $1.3B | $3.7M | ||
| Q4 24 | $1.3B | $-11.7M | ||
| Q3 24 | $1.4B | $30.8M | ||
| Q2 24 | $1.4B | $40.3M | ||
| Q1 24 | $1.4B | $52.5M |
总资产KREFSPIR
| Q4 25 | $6.5B | $211.0M | ||
| Q3 25 | $6.5B | $224.3M | ||
| Q2 25 | $6.8B | $239.5M | ||
| Q1 25 | $6.6B | $208.8M | ||
| Q4 24 | $6.4B | $193.6M | ||
| Q3 24 | $6.8B | $224.2M | ||
| Q2 24 | $7.1B | $230.8M | ||
| Q1 24 | $7.3B | $252.3M |
负债/权益比KREFSPIR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 27.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 2.35× |
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 | $-4.3M |
| 自由现金流经营现金流 - 资本支出 | — | $-16.2M |
| 自由现金流率自由现金流/营收 | — | -102.1% |
| 资本支出强度资本支出/营收 | — | 75.1% |
| 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 | — | $-92.6M |
8季度趋势，按日历期对齐
经营现金流KREFSPIR
| Q4 25 | $72.3M | $-4.3M | ||
| Q3 25 | $18.5M | $-12.0M | ||
| Q2 25 | $21.1M | $-35.1M | ||
| Q1 25 | $15.9M | $-8.4M | ||
| Q4 24 | $132.6M | $-19.2M | ||
| Q3 24 | $49.1M | $14.0M | ||
| Q2 24 | $30.6M | $-4.4M | ||
| Q1 24 | $34.5M | $-8.8M |
自由现金流KREFSPIR
| Q4 25 | — | $-16.2M | ||
| Q3 25 | — | $-20.4M | ||
| Q2 25 | — | $-38.7M | ||
| Q1 25 | — | $-17.3M | ||
| Q4 24 | — | $-24.3M | ||
| Q3 24 | — | $5.1M | ||
| Q2 24 | — | $-9.9M | ||
| Q1 24 | — | $-15.9M |
自由现金流率KREFSPIR
| Q4 25 | — | -102.1% | ||
| Q3 25 | — | -161.3% | ||
| Q2 25 | — | -201.7% | ||
| Q1 25 | — | -72.6% | ||
| Q4 24 | — | -112.2% | ||
| Q3 24 | — | 17.8% | ||
| Q2 24 | — | -39.0% | ||
| Q1 24 | — | -45.7% |
资本支出强度KREFSPIR
| Q4 25 | — | 75.1% | ||
| Q3 25 | — | 66.2% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 37.3% | ||
| Q4 24 | — | 23.5% | ||
| Q3 24 | — | 31.2% | ||
| Q2 24 | — | 21.8% | ||
| Q1 24 | — | 20.3% |
现金转化率KREFSPIR
| Q4 25 | — | — | ||
| Q3 25 | 1.34× | — | ||
| Q2 25 | — | -0.29× | ||
| 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
