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KKR Real Estate Finance Trust Inc.（KREF）与泛美白银（USAS）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.的季度营收约是泛美白银的1.4倍（$25.8M vs $19.1M），泛美白银净利率更高（-82.3% vs -101.7%，领先19.4%），KKR Real Estate Finance Trust Inc.同比增速更快（-26.6% vs -28.0%）
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。
泛美白银是一家总部位于加拿大的矿业企业，业务布局集中在拉丁美洲，在墨西哥、秘鲁、玻利维亚、阿根廷多国持有运营矿山及其他矿产开发项目，是美洲地区重要的贵金属开采企业。
KREF vs USAS — 直观对比
营收规模更大
KREF
是对方的1.4倍
$19.1M
营收增速更快
KREF
高出1.4%
-28.0%
净利率更高
USAS
高出19.4%
-101.7%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $25.8M | $19.1M |
| 净利润 | $-26.2M | $-15.7M |
| 毛利率 | — | 34.2% |
| 营业利润率 | -105.1% | — |
| 净利率 | -101.7% | -82.3% |
| 营收同比 | -26.6% | -28.0% |
| 净利润同比 | -229.6% | 2.8% |
| 每股收益（稀释后） | $-0.49 | — |
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KREFUSAS
| Q4 25 | $25.8M | — | ||
| Q3 25 | $25.3M | $19.1M | ||
| Q2 25 | $30.2M | — | ||
| Q1 25 | $31.3M | — | ||
| Q4 24 | $35.1M | — | ||
| Q3 24 | $37.0M | $26.5M | ||
| Q2 24 | $40.4M | — | ||
| Q1 24 | $39.1M | — |
净利润KREFUSAS
| Q4 25 | $-26.2M | — | ||
| Q3 25 | $13.8M | $-15.7M | ||
| Q2 25 | $-29.7M | — | ||
| Q1 25 | $-4.9M | — | ||
| Q4 24 | $20.3M | — | ||
| Q3 24 | $-7.4M | $-16.2M | ||
| Q2 24 | $25.8M | — | ||
| Q1 24 | $-3.1M | — |
毛利率KREFUSAS
| Q4 25 | — | — | ||
| Q3 25 | — | 34.2% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.6% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率KREFUSAS
| Q4 25 | -105.1% | — | ||
| Q3 25 | 50.4% | — | ||
| Q2 25 | -101.3% | — | ||
| Q1 25 | -18.3% | — | ||
| Q4 24 | 55.8% | — | ||
| Q3 24 | -19.6% | — | ||
| Q2 24 | 63.3% | — | ||
| Q1 24 | -8.7% | — |
净利率KREFUSAS
| Q4 25 | -101.7% | — | ||
| Q3 25 | 54.4% | -82.3% | ||
| Q2 25 | -98.5% | — | ||
| Q1 25 | -15.5% | — | ||
| Q4 24 | 57.7% | — | ||
| Q3 24 | -20.0% | -60.9% | ||
| Q2 24 | 63.9% | — | ||
| Q1 24 | -7.9% | — |
每股收益（稀释后）KREFUSAS
| Q4 25 | $-0.49 | — | ||
| Q3 25 | $0.12 | — | ||
| Q2 25 | $-0.53 | — | ||
| Q1 25 | $-0.15 | — | ||
| Q4 24 | $0.22 | — | ||
| Q3 24 | $-0.19 | — | ||
| Q2 24 | $0.29 | — | ||
| Q1 24 | $-0.13 | — |
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 | $39.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.2B | $50.2M |
| 总资产 | $6.5B | $234.7M |
| 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KREFUSAS
| Q4 25 | $84.6M | — | ||
| Q3 25 | $204.1M | $39.1M | ||
| Q2 25 | $107.7M | — | ||
| Q1 25 | $106.4M | — | ||
| Q4 24 | $104.9M | — | ||
| Q3 24 | $108.8M | — | ||
| Q2 24 | $107.2M | — | ||
| Q1 24 | $106.5M | — |
股东权益KREFUSAS
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $50.2M | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.4B | $53.1M | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
总资产KREFUSAS
| Q4 25 | $6.5B | — | ||
| Q3 25 | $6.5B | $234.7M | ||
| Q2 25 | $6.8B | — | ||
| Q1 25 | $6.6B | — | ||
| Q4 24 | $6.4B | — | ||
| Q3 24 | $6.8B | — | ||
| Q2 24 | $7.1B | — | ||
| Q1 24 | $7.3B | — |
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 | $-12.5M |
| 自由现金流经营现金流 - 资本支出 | — | $-41.3M |
| 自由现金流率自由现金流/营收 | — | -216.5% |
| 资本支出强度资本支出/营收 | — | 150.8% |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流KREFUSAS
| Q4 25 | $72.3M | — | ||
| Q3 25 | $18.5M | $-12.5M | ||
| Q2 25 | $21.1M | — | ||
| Q1 25 | $15.9M | — | ||
| Q4 24 | $132.6M | — | ||
| Q3 24 | $49.1M | $2.4M | ||
| Q2 24 | $30.6M | — | ||
| Q1 24 | $34.5M | — |
自由现金流KREFUSAS
| Q4 25 | — | — | ||
| Q3 25 | — | $-41.3M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-11.2M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率KREFUSAS
| Q4 25 | — | — | ||
| Q3 25 | — | -216.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -42.2% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度KREFUSAS
| Q4 25 | — | — | ||
| Q3 25 | — | 150.8% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 51.2% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率KREFUSAS
| 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
