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KKR Real Estate Finance Trust Inc.（KREF）与Spok Holdings, Inc（SPOK）财务数据对比。点击上方公司名可切换其他公司
Spok Holdings, Inc的季度营收约是KKR Real Estate Finance Trust Inc.的1.3倍（$33.9M vs $25.8M），Spok Holdings, Inc净利率更高（8.7% vs -101.7%，领先110.4%），Spok Holdings, Inc同比增速更快（-0.1% vs -26.6%），过去两年Spok Holdings, Inc的营收复合增速更高（-1.5% 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。
Spok Holdings, Inc.是一家主要服务医疗健康行业的关键通信解决方案提供商，主打统一临床通信平台、安全消息工具、警报系统和值班调度软件，帮助医护团队高效协作，缩短响应时长，提升医疗机构的患者安全水平。
KREF vs SPOK — 直观对比
营收规模更大
SPOK
是对方的1.3倍
$25.8M
营收增速更快
SPOK
高出26.5%
-26.6%
净利率更高
SPOK
高出110.4%
-101.7%
两年增速更快
SPOK
近两年复合增速
-18.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $25.8M | $33.9M |
| 净利润 | $-26.2M | $2.9M |
| 毛利率 | — | 76.7% |
| 营业利润率 | -105.1% | 11.6% |
| 净利率 | -101.7% | 8.7% |
| 营收同比 | -26.6% | -0.1% |
| 净利润同比 | -229.6% | -19.6% |
| 每股收益（稀释后） | $-0.49 | $0.13 |
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KREFSPOK
| Q4 25 | $25.8M | $33.9M | ||
| Q3 25 | $25.3M | $33.9M | ||
| Q2 25 | $30.2M | $35.7M | ||
| Q1 25 | $31.3M | $36.3M | ||
| Q4 24 | $35.1M | $33.9M | ||
| Q3 24 | $37.0M | $34.9M | ||
| Q2 24 | $40.4M | $34.0M | ||
| Q1 24 | $39.1M | $34.9M |
净利润KREFSPOK
| Q4 25 | $-26.2M | $2.9M | ||
| Q3 25 | $13.8M | $3.2M | ||
| Q2 25 | $-29.7M | $4.6M | ||
| Q1 25 | $-4.9M | $5.2M | ||
| Q4 24 | $20.3M | $3.6M | ||
| Q3 24 | $-7.4M | $3.7M | ||
| Q2 24 | $25.8M | $3.4M | ||
| Q1 24 | $-3.1M | $4.2M |
毛利率KREFSPOK
| Q4 25 | — | 76.7% | ||
| Q3 25 | — | 78.3% | ||
| Q2 25 | — | 79.5% | ||
| Q1 25 | — | 80.1% | ||
| Q4 24 | — | 78.5% | ||
| Q3 24 | — | 79.5% | ||
| Q2 24 | — | 78.9% | ||
| Q1 24 | — | 79.5% |
营业利润率KREFSPOK
| Q4 25 | -105.1% | 11.6% | ||
| Q3 25 | 50.4% | 12.9% | ||
| Q2 25 | -101.3% | 15.1% | ||
| Q1 25 | -18.3% | 16.6% | ||
| Q4 24 | 55.8% | 13.7% | ||
| Q3 24 | -19.6% | 14.2% | ||
| Q2 24 | 63.3% | 13.2% | ||
| Q1 24 | -8.7% | 14.0% |
净利率KREFSPOK
| Q4 25 | -101.7% | 8.7% | ||
| Q3 25 | 54.4% | 9.5% | ||
| Q2 25 | -98.5% | 12.8% | ||
| Q1 25 | -15.5% | 14.3% | ||
| Q4 24 | 57.7% | 10.8% | ||
| Q3 24 | -20.0% | 10.5% | ||
| Q2 24 | 63.9% | 10.1% | ||
| Q1 24 | -7.9% | 12.1% |
每股收益（稀释后）KREFSPOK
| Q4 25 | $-0.49 | $0.13 | ||
| Q3 25 | $0.12 | $0.15 | ||
| Q2 25 | $-0.53 | $0.22 | ||
| Q1 25 | $-0.15 | $0.25 | ||
| Q4 24 | $0.22 | $0.17 | ||
| Q3 24 | $-0.19 | $0.18 | ||
| Q2 24 | $0.29 | $0.17 | ||
| 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 | $25.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.2B | $146.4M |
| 总资产 | $6.5B | $206.1M |
| 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KREFSPOK
| Q4 25 | $84.6M | $25.3M | ||
| Q3 25 | $204.1M | $21.4M | ||
| Q2 25 | $107.7M | $20.2M | ||
| Q1 25 | $106.4M | $19.9M | ||
| Q4 24 | $104.9M | $29.1M | ||
| Q3 24 | $108.8M | $27.8M | ||
| Q2 24 | $107.2M | $23.9M | ||
| Q1 24 | $106.5M | $23.3M |
股东权益KREFSPOK
| Q4 25 | $1.2B | $146.4M | ||
| Q3 25 | $1.2B | $148.7M | ||
| Q2 25 | $1.2B | $150.9M | ||
| Q1 25 | $1.3B | $151.7M | ||
| Q4 24 | $1.3B | $154.7M | ||
| Q3 24 | $1.4B | $156.3M | ||
| Q2 24 | $1.4B | $158.2M | ||
| Q1 24 | $1.4B | $160.2M |
总资产KREFSPOK
| Q4 25 | $6.5B | $206.1M | ||
| Q3 25 | $6.5B | $209.7M | ||
| Q2 25 | $6.8B | $208.7M | ||
| Q1 25 | $6.6B | $204.5M | ||
| Q4 24 | $6.4B | $217.1M | ||
| Q3 24 | $6.8B | $216.8M | ||
| Q2 24 | $7.1B | $216.4M | ||
| Q1 24 | $7.3B | $215.0M |
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 | $11.5M |
| 自由现金流经营现金流 - 资本支出 | — | $10.1M |
| 自由现金流率自由现金流/营收 | — | 29.9% |
| 资本支出强度资本支出/营收 | — | 4.1% |
| 现金转化率经营现金流/净利润 | — | 3.93× |
| 过去12个月自由现金流最近4个季度 | — | $25.2M |
8季度趋势，按日历期对齐
经营现金流KREFSPOK
| Q4 25 | $72.3M | $11.5M | ||
| Q3 25 | $18.5M | $8.1M | ||
| Q2 25 | $21.1M | $7.0M | ||
| Q1 25 | $15.9M | $2.3M | ||
| Q4 24 | $132.6M | $8.4M | ||
| Q3 24 | $49.1M | $11.1M | ||
| Q2 24 | $30.6M | $7.4M | ||
| Q1 24 | $34.5M | $2.0M |
自由现金流KREFSPOK
| Q4 25 | — | $10.1M | ||
| Q3 25 | — | $7.6M | ||
| Q2 25 | — | $6.0M | ||
| Q1 25 | — | $1.5M | ||
| Q4 24 | — | $7.5M | ||
| Q3 24 | — | $10.3M | ||
| Q2 24 | — | $6.8M | ||
| Q1 24 | — | $1.1M |
自由现金流率KREFSPOK
| Q4 25 | — | 29.9% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 22.3% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 20.0% | ||
| Q1 24 | — | 3.2% |
资本支出强度KREFSPOK
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 1.9% | ||
| Q1 24 | — | 2.5% |
现金转化率KREFSPOK
| Q4 25 | — | 3.93× | ||
| Q3 25 | 1.34× | 2.54× | ||
| Q2 25 | — | 1.55× | ||
| Q1 25 | — | 0.43× | ||
| Q4 24 | 6.54× | 2.31× | ||
| Q3 24 | — | 3.03× | ||
| Q2 24 | 1.19× | 2.17× | ||
| Q1 24 | — | 0.47× |
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
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
