KKR Real Estate Finance Trust (KREF) Cash from Operations (2016 - 2026)
KKR Real Estate Finance Trust (KREF) recorded Cash from Operations of $2.53 million in Q3 2026, down 86.3% from $18.51 million a year earlier and down 82.7% from the prior quarter.
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Analysis
KKR Real Estate Finance Trust (KREF) Cash from Operations (2016 - 2026) Analysis & Trends
On a TTM basis, KKR Real Estate Finance Trust's Cash from Operations came in at $47.03 million as of Sep 30, 2026, down 36.3% year-over-year; for FY2025, it came in at $72.28 million, down 45.5% from FY2024.
- Annual Cash from Operations has a five-year compound annual growth rate of -8.9% (FY2020 to FY2025).
- Across earlier years, Cash from Operations came in at $132.56 million in FY2024 (-14.9%), $155.72 million in FY2023 (+10.3%), $141.13 million in FY2022 (+13.1%) and $124.79 million in FY2021 (+8.5%).
- The Q3 2026 figure is the lowest quarterly Cash from Operations since Q3 2017.
- On a year-over-year basis, Cash from Operations has declined for eight consecutive quarters, with an average decline of 42.6% over the last eight quarters.
- Peak year-over-year performance for Cash from Operations in the last five years was growth of 33.1% in Q4 2022, against a decline of 86.3% in Q3 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at $14.62 million (Q2 2026), $13.14 million (Q1 2026) and $16.74 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cash from Ops. (Qtr) |
|---|---|---|---|---|---|
| 1 | Royalty Pharma | 39.80 Bn | 40.13 Bn | - | 686.08 Mn |
| 2 | Rocket Companies | 38.90 Bn | 27.72 Bn | - | 1.91 Bn |
| 3 | Orix | 38.66 Bn | 9.30 Bn | 13.83 Bn | - |
| 4 | Federal National Mortgage Association Fannie Mae | 26.46 Bn | -16,107.65 Bn | - | 876.00 Mn |
| 5 | Synchrony Financial | 22.47 Bn | -45.15 Bn | - | 2.50 Bn |
| 6 | Affirm Holdings | 22.07 Bn | 15.11 Bn | - | 207.08 Mn |
| 7 | Royal Gold | 21.71 Bn | 20.92 Bn | 402.46 Mn | 344.40 Mn |
| 8 | Ares Capital | 13.84 Bn | 11.59 Bn | - | 1.05 Bn |
| 9 | Annaly Capital Management | 13.83 Bn | 4.86 Bn | - | 2.86 Bn |
| 10 | KKR Real Estate Finance Trust | 308.52 Mn | -98.81 Mn | - | 2.53 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 2.53 Mn |
| Jun 30, 2026 | 14.62 Mn |
| Mar 31, 2026 | 13.14 Mn |
| Dec 31, 2025 | 16.74 Mn |
| Sep 30, 2025 | 18.51 Mn |
| Jun 30, 2025 | 21.13 Mn |
| Mar 31, 2025 | 15.92 Mn |
| Dec 31, 2024 | 18.32 Mn |
| Sep 30, 2024 | 49.11 Mn |
| Jun 30, 2024 | 30.64 Mn |
| Mar 31, 2024 | 34.49 Mn |
| Dec 31, 2023 | 36.84 Mn |
| Sep 30, 2023 | 41.77 Mn |
| Jun 30, 2023 | 35.47 Mn |
| Mar 31, 2023 | 41.64 Mn |
| Dec 31, 2022 | 37.17 Mn |
| Sep 30, 2022 | 35.57 Mn |
| Jun 30, 2022 | 35.25 Mn |
| Mar 31, 2022 | 33.13 Mn |
| Dec 31, 2021 | 27.94 Mn |
API Access
KKR Real Estate Finance Trust Cash from Operations API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cash-from-operations&ticker=KREF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cash-from-operations", "ticker": "KREF", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cash-from-operations&ticker=KREF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();