Kkr Real Estate Finance Trust Inc. - Understand $kref stock

$KREF Market Cap: $796.4 Million

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Financial Snapshot

Revenue

$635.1M

TTM

Gross Margin

30.27%

TTM

Net Earnings

-$3.182M

TTM

Current Assets

$141.1M

Q3 2024

Current Liabilities

$467.1M

Q3 2024

Current Ratio

30.21%

Q3 2024

Total Assets

$6.774B

Q3 2024

Total Liabilities

$5.363B

Q3 2024

Book Value

$1.411B

Q3 2024

Cash

$108.8M

Q3 2024

P/E

-250.3

Nov 29, 2024 EST

Free Cash Flow

$78.30M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015
Revenue	$661.6M	$441.2M	$292.1M	$270.5M	$280.3M	$203.7M	$100.8M	$48.60M	$22.90M
YoY Change	49.97%	51.01%	8.0%	-3.5%	37.6%	102.08%	107.41%	112.23%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015
Revenue	$661.6M	$441.2M	$292.1M	$270.5M	$280.3M	$203.7M	$100.8M	$48.60M	$22.90M
Cost Of Revenue	$458.8M	$236.1M	$114.4M	$127.3M	$158.9M	$85.00M	$21.20M	$7.400M	$600.0K
Gross Profit	$202.8M	$205.1M	$177.7M	$143.2M	$121.5M	$118.7M	$79.60M	$41.20M	$22.30M
Gross Profit Margin	30.65%	46.48%	60.83%	52.94%	43.35%	58.27%	78.97%	84.77%	97.38%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015
Selling, General & Admin	$47.45M	$34.15M	$39.45M	$31.50M	$30.90M	$28.90M	$18.40M	$8.600M	$4.700M
YoY Change	38.95%	-13.45%	25.25%	1.94%	6.92%	57.07%	113.95%	82.98%
% of Gross Profit	23.4%	16.65%	22.2%	22.0%	25.43%	24.35%	23.12%	20.87%	21.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$233.8M	$167.4M	$39.83M	$38.10M	$30.93M	$28.91M	$18.43M	$8.569M	$4.745M
YoY Change	39.63%	320.36%	4.53%	23.19%	6.97%	56.9%	115.05%	80.59%
Operating Profit	-$30.95M	$37.65M	$137.9M	$105.1M	$90.57M	$89.79M	$61.17M	$32.63M	$17.56M
YoY Change	-182.19%	-72.69%	31.18%	16.04%	0.87%	46.78%	87.47%	85.88%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015
Interest Expense	$458.8M	$236.1M	$114.4M	$127.3M	$158.9M	$85.02M	$21.22M	$7.432M	$554.0K
YoY Change	94.33%	106.31%	-10.11%	-19.86%	86.86%	300.57%	185.58%	1241.52%
% of Operating Profit		627.06%	83.01%	121.13%	175.4%	94.69%	34.7%	22.78%	3.16%
Other Income/Expense, Net	$21.20M	$19.19M	$12.18M	$1.281M	$5.998M	$20.09M	$17.69M	$15.97M	$10.33M
YoY Change	10.45%	57.55%	851.05%	-78.64%	-70.15%	13.6%	10.77%	54.61%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015
Pretax Income	-$30.95M	$37.65M	$137.9M	$54.81M	$90.54M	$89.74M	$61.18M	$32.63M	$17.57M
YoY Change	-182.19%	-72.69%	151.54%	-39.47%	0.9%	46.67%	87.52%	85.74%
Income Tax	$710.0K	$58.00K	$684.0K	$412.0K	$600.0K	-$100.0K	$1.100M	$354.0K	$393.0K
% Of Pretax Income		0.15%	0.5%	0.75%	0.66%	-0.11%	1.8%	1.09%	2.24%
Net Earnings	-$30.85M	$38.10M	$137.2M	$54.40M	$89.97M	$89.74M	$59.06M	$31.16M	$16.76M
YoY Change	-180.97%	-72.22%	152.19%	-39.54%	0.25%	51.95%	89.56%	85.87%
Net Earnings / Revenue	-4.66%	8.64%	46.96%	20.11%	32.1%	44.06%	58.59%	64.11%	73.2%
Basic Earnings Per Share	-$0.78	$0.23	$2.22	$0.96	$1.58	$1.58	$1.30	$1.61	$1.95
Diluted Earnings Per Share	-$0.78	$0.23	$2.21	$0.96	$1.57	$1.58	$1.30	$1.61	$1.95

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015
Cash & Short-Term Investments	$135.9M	$239.8M	$271.5M	$110.8M	$67.60M	$86.50M	$103.1M	$96.20M	$26.70M
YoY Change	-43.33%	-11.67%	145.02%	63.91%	-21.85%	-16.1%	7.17%	260.3%
Cash & Equivalents	$135.9M	$239.8M	$271.5M	$110.8M	$67.60M	$86.50M	$103.1M	$96.20M	$26.70M
Short-Term Investments
Other Short-Term Assets		$1.100M	$1.400M	$500.0K				$0.00	$200.0K
YoY Change		-21.43%	180.0%					-100.0%
Inventory
Prepaid Expenses
Receivables	$41.00M	$39.01M	$15.24M	$15.40M	$16.30M	$16.20M	$8.400M	$3.500M	$1.400M
Other Receivables	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$400.0K	$0.00
Total Short-Term Assets	$176.9M	$279.9M	$288.1M	$126.7M	$83.90M	$102.7M	$111.5M	$100.1M	$28.30M
YoY Change	-36.8%	-2.86%	127.41%	51.01%	-18.31%	-7.89%	11.39%	253.71%
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$35.08M	$36.85M	$35.54M	$33.70M	$37.50M	$30.70M	$14.40M	$36.40M	$24.40M
YoY Change	-4.81%	3.69%	5.45%	-10.13%	22.15%	113.19%	-60.44%	49.18%
Other Assets	$117.1M	$15.70M	$4.000M	$2.500M	$2.400M	$2.100M	$400.0K	$1.900M	$4.700M
YoY Change	645.97%	292.5%	60.0%	4.17%	14.29%	425.0%	-78.95%	-59.57%
Total Long-Term Assets	$7.371B	$7.522B	$6.415B	$4.839B	$4.973B	$5.129B	$7.283B	$6.165B	$4.689B
YoY Change	-2.02%	17.26%	32.57%	-2.7%	-3.04%	-29.58%	18.14%	31.5%
Total Assets	$7.548B	$7.802B	$6.703B	$4.966B	$5.057B	$5.232B	$7.395B	$6.265B	$4.717B
YoY Change
Accounts Payable	$5.450M	$4.045M	$2.121M	$1.700M	$3.400M	$4.500M	$2.500M	$1.500M	$2.200M
YoY Change	34.73%	90.71%	24.76%	-50.0%	-24.44%	80.0%	66.67%	-31.82%
Accrued Expenses	$22.01M	$19.96M	$10.53M	$8.500M	$6.700M	$1.088B	$5.259B	$5.315B	$4.299B
YoY Change	10.26%	89.6%	23.85%	26.87%	-99.38%	-79.31%	-1.06%	23.63%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$156.2M
YoY Change
Total Short-Term Liabilities	$65.53M	$62.44M	$46.69M	$40.70M	$41.10M	$1.122B	$5.285B	$5.318B	$4.304B
YoY Change	4.96%	33.73%	14.71%	-0.97%	-96.34%	-78.77%	-0.62%	23.57%
Long-Term Debt	$6.060B	$6.164B	$5.295B	$3.880B	$3.892B	$2.975B	$1.046B	$439.1M	$122.1M
YoY Change	-1.69%	16.42%	36.49%	-0.33%	30.86%	184.29%	138.28%	259.62%
Other Long-Term Liabilities	$17.98M	$4.100M
YoY Change	338.61%
Total Long-Term Liabilities	$6.078B	$6.168B	$5.295B	$3.880B	$3.892B	$2.975B	$1.046B	$439.1M	$122.1M
YoY Change	-1.47%	16.5%	36.49%	-0.33%	30.86%	184.29%	138.28%	259.62%
Total Liabilities	$6.143B	$6.231B	$5.342B	$3.920B	$3.933B	$4.097B	$6.335B	$5.768B	$4.436B
YoY Change	-1.41%	16.64%	36.26%	-0.33%	-3.99%	-35.33%	9.83%	30.03%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015
Basic Shares Outstanding	69.18M shares	67.55M shares	56.57M shares	55.99M shares	57.43M shares	55.14M shares	45.32M shares	19.30M shares	8.606M shares
Diluted Shares Outstanding	69.18M shares	67.55M shares	56.78M shares	56.06M shares	57.53M shares	55.17M shares	45.32M shares	19.30M shares	8.606M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $796.38 Million

About KKR Real Estate Finance Trust Inc.

KKR Real Estate Finance Trust, Inc. engages in originating and acquiring transitional senior loans secured by commercial real estate assets. The company is headquartered in New York City, New York. The company went IPO on 2017-05-05. The firm primarily originates or acquires transitional senior loans collateralized by institutional-quality commercial real estate (CRE) assets that are owned and operated by sponsors and located in liquid markets with underlying fundamentals. The firm's target assets also include mezzanine loans, preferred equity and other debt-oriented instruments with these characteristics. The firm's investment objective is capital preservation and the generation of attractive risk-adjusted returns for its stockholders over the long term, primarily through dividends. Its portfolio of diversified investments consists of performing senior and mezzanine loans. The company focuses on originating and acquiring senior loans that are secured by CRE properties and evidenced by a first-priority mortgage. The firm is externally managed by KKR Real Estate Finance Manager LLC, an indirect wholly owned subsidiary of KKR & Co. Inc.

Industry: Real Estate Investment Trusts Peers: MFA FINANCIAL, INC. ANNALY CAPITAL MANAGEMENT INC Apollo Commercial Real Estate Finance, Inc. Franklin BSP Realty Trust, Inc. BrightSpire Capital, Inc. CHIMERA INVESTMENT CORP Ladder Capital Corp PennyMac Mortgage Investment Trust Ready Capital Corp TWO HARBORS INVESTMENT CORP.