KKR Real Estate Finance Trust (KREF) EBITDA (2016 - 2026)
KKR Real Estate Finance Trust (KREF) posted EBITDA of -$50.0 million for Q2 2026, down 498.38% on a QoQ basis from $12.6 million in Q1 2026, and down 197.09% year-over-year from $51.5 million in Q2 2025.
KKR Real Estate Finance Trust (KREF) EBITDA (2016 - 2026) Analysis & Trends
KKR Real Estate Finance Trust's EBITDA history runs 11 years deep, the most recent figure standing at -$50.0 million for Q2 2026.
- Quarterly EBITDA fell 197.09% year-over-year to -$50.0 million in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $106.4 million (down 68.18% YoY) and the FY2025 annual result came in at $272.3 million, down 39.15% from the prior year.
- EBITDA was -$50.0 million for Q2 2026 at KKR Real Estate Finance Trust, down from $12.6 million in the prior quarter.
- Across five years, EBITDA topped out at $145.6 million in Q3 2023 and bottomed at -$50.0 million in Q2 2026.
- A 5-year average of $77.0 million and a median of $88.2 million in 2023 frame the typical range for EBITDA.
- Annual changes were most pronounced in 2023 — EBITDA surged 496.88% — and 2026, when it sank 197.09%.
- KKR Real Estate Finance Trust's EBITDA stood at $111.8 million in 2022, then fell by 5.49% to $105.6 million in 2023, then grew by 2.33% to $108.1 million in 2024, then tumbled by 55.17% to $48.5 million in 2025, then slumped by 203.25% to -$50.0 million in 2026.
- Business Quant data shows KREF's EBITDA at -$50.0 million in Q2 2026, $12.6 million in Q1 2026, and $48.5 million in Q4 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Annaly Capital Management | 16.30 Bn | 14.44 Bn | - | 1.56 Bn |
| 2 | AGNC Investment | 11.85 Bn | 11.36 Bn | - | - |
| 3 | Starwood Property Trust | 5.99 Bn | 5.94 Bn | - | 382.38 Mn |
| 4 | Rithm Capital | 5.01 Bn | 5.01 Bn | - | 598.90 Mn |
| 5 | Blackstone Mortgage Trust | 2.78 Bn | 2.24 Bn | - | 215.55 Mn |
| 6 | Ellington Financial | 1.63 Bn | 1.51 Bn | - | 188.28 Mn |
| 7 | Dynex Capital | 1.56 Bn | 1.05 Bn | - | - |
| 8 | Armour Residential REIT | 1.42 Bn | 1.34 Bn | - | - |
| 9 | Two Harbors Investment | 1.27 Bn | 987.19 Mn | - | 167.51 Mn |
| 10 | KKR Real Estate Finance Trust | 446.61 Mn | 422.08 Mn | - | -50.03 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -50.03 Mn |
| Mar 31, 2026 | 12.56 Mn |
| Dec 31, 2025 | 48.45 Mn |
| Sep 30, 2025 | 95.46 Mn |
| Jun 30, 2025 | 51.53 Mn |
| Mar 31, 2025 | 78.97 Mn |
| Dec 31, 2024 | 108.08 Mn |
| Sep 30, 2024 | 95.91 Mn |
| Jun 30, 2024 | 134.42 Mn |
| Mar 31, 2024 | 109.09 Mn |
| Dec 31, 2023 | 105.62 Mn |
| Sep 30, 2023 | 145.62 Mn |
| Jun 30, 2023 | 95.73 Mn |
| Mar 31, 2023 | 80.89 Mn |
| Dec 31, 2022 | 111.75 Mn |
| Sep 30, 2022 | 24.40 Mn |
| Jun 30, 2022 | 69.73 Mn |
| Mar 31, 2022 | 67.87 Mn |
| Dec 31, 2021 | 71.04 Mn |
| Sep 30, 2021 | 65.61 Mn |