KKR Real Estate Finance Trust (KREF) FCF Margin (2016 - 2026)
KKR Real Estate Finance Trust (KREF) reported FCF Margin of -46.14% for Q3 2026, down 76.76 percentage points from 30.62% a year earlier and down 2.86 percentage points from the prior quarter.
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Analysis
KKR Real Estate Finance Trust (KREF) FCF Margin (2016 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, KKR Real Estate Finance Trust's FCF Margin came in at 11.03%, down 43.16 percentage points year-over-year; for FY2025, it was 54.64%, down 26.67 percentage points from FY2024.
- FCF Margin has a five-year change of -26.16 percentage points (FY2020 to FY2025).
- By year, FCF Margin came in at 81.31% in FY2024 (-2.75 pp), 84.06% in FY2023 (+10.86 pp), 73.20% in FY2022 (+2.70 pp) and 70.50% in FY2021 (-10.29 pp).
- The Q3 2026 figure ranks as the lowest quarterly FCF Margin since Q3 2017.
- Year over year, FCF Margin has now declined in each of the last three quarters, with an average year-over-year change of -43.57 percentage points over the last eight quarters.
- The high point for year-over-year FCF Margin in five years was Q3 2024 (a gain of 38.89 percentage points); the low point was Q2 2026 (a drop of 126.32 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at -43.28% (Q2 2026), 38.01% (Q1 2026) and 53.53% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Royalty Pharma | 39.80 Bn | 40.13 Bn | - | 99.42% |
| 2 | Rocket Companies | 38.90 Bn | 27.72 Bn | - | 56.70% |
| 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 | - | 10.46% |
| 5 | Synchrony Financial | 22.47 Bn | -45.15 Bn | - | 50.83% |
| 6 | Affirm Holdings | 22.07 Bn | 15.11 Bn | - | 11.45% |
| 7 | Royal Gold | 21.71 Bn | 20.92 Bn | 402.46 Mn | 73.88% |
| 8 | Ares Capital | 13.84 Bn | 11.59 Bn | - | 137.88% |
| 9 | Annaly Capital Management | 13.83 Bn | 4.86 Bn | - | 332.74% |
| 10 | KKR Real Estate Finance Trust | 308.52 Mn | -98.81 Mn | - | -46.14% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -46.14% |
| Jun 30, 2026 | -43.28% |
| Mar 31, 2026 | 38.01% |
| Dec 31, 2025 | 53.53% |
| Sep 30, 2025 | 30.62% |
| Jun 30, 2025 | 83.03% |
| Mar 31, 2025 | 46.99% |
| Dec 31, 2024 | 52.24% |
| Sep 30, 2024 | 130.31% |
| Jun 30, 2024 | 61.80% |
| Mar 31, 2024 | 80.97% |
| Dec 31, 2023 | 77.60% |
| Sep 30, 2023 | 91.42% |
| Jun 30, 2023 | 79.02% |
| Mar 31, 2023 | 88.23% |
| Dec 31, 2022 | 69.46% |
| Sep 30, 2022 | 72.67% |
| Jun 30, 2022 | 73.88% |
| Mar 31, 2022 | 77.67% |
| Dec 31, 2021 | 63.04% |
API Access
KKR Real Estate Finance Trust FCF Margin 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=fcf-margin&ticker=KREF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "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=fcf-margin&ticker=KREF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();