KKR Real Estate Finance Trust Inc. (KREF) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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KREF Revenue Growth
KREF Revenue Analysis (2014–2025)
As of May 8, 2026, KKR Real Estate Finance Trust Inc. (KREF) generated trailing twelve-month (TTM) revenue of $441.7 million, reflecting significant decline in growth of -13.8% year-over-year. The most recent quarter (Q1 2026) recorded $101.7 million in revenue, down 5.4% sequentially.
Looking at the longer-term picture, KREF's 5-year compound annual growth rate (CAGR) stands at +11.2%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $660.2 million in 2023.
When compared to Real Estate sector peers including BXMT (-7.0% YoY), STWD (-7.4% YoY), and RC (+1726.0% YoY), KREF has underperformed the peer group in terms of revenue growth. Compare KREF vs BXMT →
KREF Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| KREFCurrent | $442M | -13.8% | +11.2% | 59.3% | |
 BXMT | $1.5B | -7.0% | +14.4% | 71.6% | |
 STWD | $1.9B | -7.4% | +10.6% | 76.2% | |
 RC | $499M | +1726.0% | +5.4% | 24.2% | |
 GPMT | $145M | +249.6% | +6.7% | 43.6% | |
 TRTX | $333M | +307.7% | +32.7% | 73.0% |
KREF Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $458.0M | -22.7% | $404.4M | 88.3% | $271.6M | 59.3% |
| 2024 | $592.6M | -10.2% | $543.0M | 91.6% | $446.0M | 75.3% |
| 2023 | $660.2M | +51.2% | $620.3M | 94.0% | $426.4M | 64.6% |
| 2022 | $436.5M | +52.8% | $399.1M | 91.4% | $269.1M | 61.6% |
| 2021 | $285.8M | +5.9% | $256.1M | 89.6% | $245.9M | 86.1% |
| 2020 | $269.9M | -2.1% | $246.2M | 91.2% | $181.6M | 67.3% |
| 2019 | $275.8M | +39.3% | $255.4M | 92.6% | $244.8M | 88.8% |
| 2018 | $198.0M | +135.4% | $176.9M | 89.3% | $171.7M | 86.7% |
| 2017 | $84.1M | +153.6% | $70.6M | 84.0% | $60.3M | 71.7% |
| 2016 | $33.2M | +137.0% | $26.9M | 81.0% | $32.6M | 98.4% |
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Start ComparisonKREF — Frequently Asked Questions
Quick answers to the most common questions about buying KREF stock.
Is KREF's revenue growth accelerating or slowing?
KREF revenue declined -13.8% year-over-year, contrasting with the 5-year CAGR of +11.2%. TTM revenue fell to $442M. This reverses the prior growth trend.
What is KREF's long-term revenue growth rate?
KKR Real Estate Finance Trust Inc.'s 5-year revenue CAGR of +11.2% reflects the variable expansion pattern. Current YoY growth of -13.8% is below this long-term average.
How is KREF's revenue distributed by segment?
KREF reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.