Last 42 quarters of trend data · Real Estate · REIT - Mortgage
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -6.07 | — | — | — | 18.75 | — | — | 12.02 | — | 7.80 | — | — | 9.57 | — | — | 16.62 | — | 11.79 | 10.10 | 7.66 | 8.24 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | +117.0% | — | +22.1% | +18.7% | -11.1% | +11.7% | |
| P/S Ratio | 0.89 | 1.17 | 0.97 | 1.25 | 1.30 | 1.24 | 1.57 | 1.37 | 1.43 | 1.01 | 1.10 | 1.36 | 1.22 | 1.27 | 1.25 | 1.64 | 2.40 | 3.19 | 4.60 | 3.96 | 3.92 |
| — | -5.6% | -38.2% | -8.4% | -8.9% | +23.3% | +42.8% | +0.4% | +16.9% | -20.4% | -11.8% | -16.9% | -49.0% | -60.3% | -72.8% | -58.7% | -38.8% | -29.0% | +16.3% | +0.4% | +15.5% | |
| P/B Ratio | 0.35 | 0.43 | 0.34 | 0.44 | 0.46 | 0.46 | 0.54 | 0.50 | 0.61 | 0.44 | 0.51 | 0.65 | 0.56 | 0.58 | 0.52 | 0.61 | 0.71 | 0.71 | 0.87 | 0.91 | 0.96 |
| — | -5.3% | -37.0% | -12.4% | -23.9% | +4.4% | +7.7% | -23.4% | +7.6% | -24.2% | -2.8% | +6.5% | -20.1% | -19.2% | -40.0% | -32.5% | -26.0% | -27.6% | -10.9% | -4.7% | +8.1% | |
| P/FCF | 6.14 | — | 9.70 | 9.59 | 8.46 | 7.18 | 12.69 | 9.57 | 4.43 | 6.20 | 5.39 | 6.23 | 4.94 | 5.98 | 4.83 | 6.49 | 8.04 | 8.48 | 10.79 | 11.08 | 7.62 |
| — | — | -23.6% | +0.1% | +91.0% | +15.9% | +135.4% | +53.7% | -10.3% | +3.6% | +11.7% | -4.0% | -38.6% | -29.5% | -55.3% | -41.5% | +5.5% | -21.9% | +27.5% | +5.1% | +27.3% | |
| EV / EBITDA | 18.30 | — | 65.17 | 26.95 | 14.38 | 27.99 | 18.62 | 12.64 | 15.69 | 11.31 | 14.65 | 16.20 | 11.70 | 17.54 | 21.10 | 15.41 | 69.96 | 25.31 | 24.69 | 22.04 | 20.39 |
| — | — | +250.0% | +113.2% | -8.3% | +147.4% | +27.1% | -22.0% | +34.1% | -35.5% | -30.6% | +5.1% | -83.3% | -30.7% | -14.5% | -30.1% | +243.2% | +11.4% | +15.3% | +8.5% | +4.3% | |
| EV / EBIT | 18.48 | — | 94.74 | 26.56 | 14.51 | 28.59 | 18.79 | 12.71 | 15.75 | 11.31 | 14.65 | 16.20 | 11.70 | 17.54 | 21.10 | 15.41 | 69.96 | 25.31 | 24.69 | 22.04 | 20.39 |
| — | — | +404.3% | +108.9% | -7.9% | +152.7% | +28.3% | -21.5% | +34.6% | -35.5% | -30.6% | +5.1% | -83.3% | -30.7% | -14.5% | -30.1% | +243.2% | +11.4% | +15.3% | +8.5% | +4.3% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 88.3% | 82.7% | 84.7% | 86.9% | 87.4% | 89.1% | 89.6% | 90.2% | 91.8% | 91.8% | 92.5% | 94.4% | 94.4% | 94.1% | 93.0% | 92.7% | 92.2% | 90.5% | 89.0% | 88.8% | 90.5% |
| — | -7.2% | -5.5% | -3.6% | -4.8% | -3.0% | -3.1% | -4.5% | -2.8% | -2.4% | -0.5% | +1.8% | +2.4% | +3.9% | +4.5% | +4.3% | +1.9% | +1.4% | -1.1% | +0.2% | -2.0% | |
| Operating Margin | 59.3% | -55.5% | 17.0% | 43.6% | 83.9% | 44.0% | 65.3% | 84.3% | 63.8% | 85.8% | 68.3% | 62.3% | 86.3% | 57.3% | 51.6% | 75.2% | 20.0% | 73.3% | 84.8% | 88.4% | 84.1% |
| — | -226.2% | -74.0% | -48.3% | +31.5% | -48.8% | -4.5% | +35.2% | -26.0% | +49.8% | +32.5% | -17.1% | +331.9% | -21.8% | -39.2% | -14.9% | -76.2% | -13.3% | -2.5% | -1.3% | +88.1% | |
| Net Margin | -10.3% | -127.8% | -55.2% | -24.4% | 12.1% | -25.1% | -4.1% | 15.8% | -4.9% | 16.6% | -2.0% | -7.6% | 16.2% | -12.1% | -15.9% | 13.8% | -36.4% | 26.8% | 45.6% | 51.6% | 47.3% |
| — | -409.5% | -1239.9% | -254.7% | +345.7% | -251.3% | -109.9% | +306.7% | -130.5% | +237.4% | +87.7% | -155.4% | +144.5% | -145.1% | -134.9% | -73.3% | -176.9% | -42.1% | -1.7% | +13.1% | +2.8% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -3.6% | -10.9% | -4.7% | -2.1% | 1.1% | -2.2% | -0.4% | 1.4% | -0.5% | 1.8% | -0.2% | -0.9% | 1.9% | -1.3% | -1.6% | 1.3% | -2.6% | 1.5% | 2.4% | 3.1% | 2.9% |
| — | -385.2% | -1241.7% | -245.2% | +306.4% | -222.1% | -57.6% | +259.8% | -127.8% | +236.0% | +86.3% | -170.3% | +171.3% | -189.4% | -169.0% | -58.6% | -190.3% | -44.7% | -17.9% | +12.2% | -3.7% | |
| ROA | -0.7% | -1.7% | -0.8% | -0.4% | 0.2% | -0.4% | -0.1% | 0.3% | -0.1% | 0.4% | -0.0% | -0.2% | 0.4% | -0.3% | -0.3% | 0.3% | -0.6% | 0.3% | 0.5% | 0.6% | 0.6% |
| — | -285.6% | -1011.6% | -231.3% | +294.9% | -223.8% | -79.3% | +281.7% | -130.0% | +239.5% | +86.9% | -164.1% | +163.6% | -176.7% | -162.5% | -59.1% | -188.6% | -41.4% | -12.9% | +14.4% | +6.2% | |
| ROIC | 3.4% | -0.7% | 0.2% | 0.6% | 1.1% | 0.6% | 0.9% | 1.3% | 1.1% | 1.4% | 1.1% | 1.1% | 1.5% | 1.0% | 0.8% | 1.1% | 0.2% | 0.7% | 0.7% | 0.9% | 0.9% |
| — | -217.3% | -75.1% | -54.1% | +4.9% | -58.1% | -18.5% | +18.8% | -27.5% | +49.8% | +39.2% | -5.0% | +518.7% | +34.6% | +8.9% | +27.8% | -73.3% | -14.4% | -14.7% | -0.9% | +92.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.83 | 4.36 | 3.90 | 3.83 | 4.02 | 4.19 | 3.77 | 3.50 | 3.75 | 3.86 | 4.20 | 4.32 | 4.20 | 4.17 | 4.16 | 3.92 | 3.69 | 3.57 | 3.30 | 3.89 | 3.62 |
| — | +4.1% | +3.5% | +9.4% | +7.1% | +8.3% | -10.3% | -18.9% | -10.7% | -7.3% | +1.0% | +10.0% | +13.9% | +16.8% | +26.0% | +0.9% | +1.9% | +4.4% | -15.5% | +6.6% | -7.7% | |
| Debt / EBITDA | 17.11 | — | 246.41 | 98.31 | 53.50 | 102.81 | 66.28 | 45.08 | 55.00 | 41.38 | 53.16 | 57.38 | 41.92 | 63.55 | 77.79 | 55.16 | 241.14 | 85.78 | 80.23 | 74.54 | 68.23 |
| — | — | +271.8% | +118.1% | -2.7% | +148.5% | +24.7% | -21.4% | +31.2% | -34.9% | -31.7% | +4.0% | -82.6% | -25.9% | -3.0% | -26.0% | +253.4% | +19.0% | +12.2% | +13.1% | +0.5% | |
| Current Ratio | 0.32 | 0.08 | 0.21 | 0.32 | 10.43 | 4.43 | 0.80 | 0.38 | 0.53 | 0.54 | 0.98 | 0.10 | 1.20 | 0.96 | 0.50 | 0.55 | 0.79 | 0.31 | 0.33 | 0.18 | 0.59 |
| — | -98.2% | -73.5% | -16.9% | +1859.1% | +718.0% | -18.9% | +289.9% | -55.8% | -43.3% | +95.3% | -82.1% | +52.0% | +209.2% | +54.5% | +209.1% | +33.9% | +73.8% | +15.9% | +26.5% | -73.4% | |
| Quick Ratio | 0.32 | 0.08 | 0.21 | 0.32 | 10.43 | 4.43 | 0.80 | 0.38 | 0.53 | 0.54 | 0.98 | 0.10 | 1.20 | 0.96 | 0.50 | 0.55 | 0.79 | 0.31 | 0.33 | 0.18 | 0.59 |
| — | -98.2% | -73.5% | -16.9% | +1859.1% | +718.0% | -18.9% | +289.9% | -55.8% | -43.3% | +95.3% | -82.1% | +52.0% | +209.2% | +54.5% | +209.1% | +33.9% | +73.8% | +15.9% | +26.5% | -73.4% | |
| Interest Coverage | 0.84 | -0.74 | 0.18 | 0.64 | 1.15 | 0.63 | 0.93 | 1.22 | 0.93 | 1.24 | 0.97 | 0.89 | 1.23 | 0.83 | 0.76 | 1.22 | 0.36 | 1.56 | 2.09 | 2.35 | 2.20 |
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Includes 30+ ratios · 42 years · Updated daily
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Quick answers to the most common questions about buying KREF stock.
KKR Real Estate Finance Trust Inc.'s current P/E is -6.1x. The average P/E over the last 1 quarters is 18.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
KKR Real Estate Finance Trust Inc.'s current operating margin is 59.3%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking KKR Real Estate Finance Trust Inc.'s business trajectory between earnings reports.