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KKR Real Estate Finance Trust Inc.

KREF Clue Score45
United States Fiscal year ends December CIK 0001631596
$5.97 -6.28% Close, 9 Oct 2026
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Price $5.97 −72.68% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 5 May 2017. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
Net income
Fiscal year 2016Net income31.2EPS, diluted1.61Fiscal year 2017Net income59.1 +89.6%EPS, diluted1.30Fiscal year 2018Net income89.7 +51.9%EPS, diluted1.58Fiscal year 2019Net income90.0 +0.2%EPS, diluted1.57Fiscal year 2020Net income54.4 −39.5%EPS, diluted0.96Fiscal year 2021Net income137.2 +152.2%EPS, diluted2.21Fiscal year 2022Net income38.1 −72.2%EPS, diluted0.23Fiscal year 2023Net income−30.9 −181.0%EPS, diluted−0.78Fiscal year 2024Net income35.6EPS, diluted0.19Fiscal year 2025Net income−47.1 −232.2%EPS, diluted−1.05
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net income 31.2 59.1 89.7 90.0 54.4 137.2 38.1 −30.9 35.6 −47.1
Growth +89.6% +51.9% +0.2% −39.5% +152.2% −72.2% −181.0% −232.2%
EPS, diluted 1.61 1.30 1.58 1.57 0.96 2.21 0.23 −0.78 0.19 −1.05

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2016Operating cash flow25.4Buybacks0.0Dividends paid−21.9Fiscal year 2017Operating cash flow53.8Buybacks−0.5Dividends paid−50.6Fiscal year 2018Operating cash flow76.8Buybacks−31.3Dividends paid−88.8Fiscal year 2019Operating cash flow91.7Buybacks−4.1Dividends paid−99.0Fiscal year 2020Operating cash flow115.1Buybacks−25.1Dividends paid−96.5Fiscal year 2021Operating cash flow124.8Buybacks0.0Dividends paid−95.7Fiscal year 2022Operating cash flow141.1Buybacks−35.8Dividends paid−115.4Fiscal year 2023Operating cash flow155.7Buybacks0.0Dividends paid−118.9Fiscal year 2024Operating cash flow132.6Buybacks−10.0Dividends paid−81.8Fiscal year 2025Operating cash flow72.3Buybacks−43.4Dividends paid−66.9
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 25.4 53.8 76.8 91.7 115.1 124.8 141.1 155.7 132.6 72.3
Buybacks 0.0 −0.5 −31.3 −4.1 −25.1 0.0 −35.8 0.0 −10.0 −43.4
Dividends paid −21.9 −50.6 −88.8 −99.0 −96.5 −95.7 −115.4 −118.9 −81.8 −66.9

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash96.2Total debt5,752.7Net cash (debt)−5,656.5Shareholders’ equity497.7Debt to equity11.56Fiscal year 2017Cash103.1Total debt6,221.7Net cash (debt)−6,118.6Shareholders’ equity1,059.1Debt to equity5.87Fiscal year 2018Cash86.5Shareholders’ equity1,132.3Fiscal year 2019Cash67.6Shareholders’ equity1,122.0Fiscal year 2020Cash110.8Shareholders’ equity1,043.6Fiscal year 2021Cash271.5Shareholders’ equity1,361.4Fiscal year 2022Cash239.8Shareholders’ equity1,571.5Fiscal year 2023Cash135.9Shareholders’ equity1,404.8Fiscal year 2024Cash104.9Shareholders’ equity1,345.0Fiscal year 2025Cash84.6Shareholders’ equity1,172.6
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 96.2 103.1 86.5 67.6 110.8 271.5 239.8 135.9 104.9 84.6
Total debt 5,752.7 6,221.7 n/a n/a n/a n/a n/a n/a n/a n/a
Net cash (debt) −5,656.5 −6,118.6 n/a n/a n/a n/a n/a n/a n/a n/a
Shareholders’ equity 497.7 1,059.1 1,132.3 1,122.0 1,043.6 1,361.4 1,571.5 1,404.8 1,345.0 1,172.6
Debt to equity 11.56 5.87 n/a n/a n/a n/a n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Cash flow

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Operations
25.4 53.8 76.8 91.7 115.1 124.8 141.1 155.7 132.6 72.3
Growth +111.8% +42.8% +19.4% +25.5% +8.5% +13.1% +10.3% −14.9% −45.5%
n/a n/a n/a n/a n/a n/a 0.0 0.0 1.0 2.6
Investment
−456.4 −1,083.7 −1,997.2 −926.3 88.7 −1,540.8 −1,177.1 13.5 1,116.2 264.3
Financing
500.6 1,037.1 1,903.4 815.7 −160.6 1,579.0 1,012.9 −271.5 −1,290.6 −355.8
−21.9 −50.6 −88.8 −99.0 −96.5 −95.7 −115.4 −118.9 −81.8 −66.9
0.0 −0.5 −31.3 −4.1 −25.1 0.0 −35.8 0.0 −10.0 −43.4

Capital expenditure, dividends and buybacks are shown as money out, so negative.