KREF Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Interest and Dividend Income	435.6	564.63	640.41	421.97	279.95
Total Interest Expense	322.96	412.91	458.8	236.1	114.44
Net Interest Income	112.64	151.72	181.61	185.87	165.51
Gain (Loss) on Sale of Investments	1.19	-0.62	-	-	5.13
Other Revenue	21.39	30.12	21.2	17.89	1.96
Revenue Before Loan Losses	135.22	181.22	202.81	203.77	172.59
Provision for Loan Losses	119.37	80.61	175.12	112.37	-4.06
Revenue	15.84	100.62	27.69	91.39	176.65
Revenue Growth (YoY)	-84.25%	263.33%	-69.70%	-48.26%	90.33%
Salaries & Employee Benefits	7.93	8.26	8.08	7.84	7.43
Cost of Services Provided	58.49	57.78	50.57	47.21	36.46
Total Operating Expenses	66.41	66.04	58.64	55.04	43.89
Operating Income	-50.57	34.58	-30.95	36.35	132.77
Currency Exchange Gain (Loss)	-0.08	-	-	-	-
EBT Excluding Unusual Items	-50.65	34.58	-30.95	36.35	132.77
Other Unusual Items	-	-	-	1.3	5.1
Pretax Income	-50.65	34.58	-30.95	37.65	137.87
Income Tax Expense	-0.16	0.25	0.71	0.06	0.68
Earnings From Continuing Ops.	-50.49	34.33	-31.66	37.59	137.18
Minority Interest in Earnings	3.44	1.26	0.81	0.51	-
Net Income	-47.05	35.59	-30.85	38.1	137.18
Preferred Dividends & Other Adjustments	22.83	22.52	23.07	22.73	11.55
Net Income to Common	-69.89	13.07	-53.92	15.37	125.64
Net Income Growth	-	-	-	-72.22%	152.19%
Shares Outstanding (Basic)	67	69	69	68	57
Shares Outstanding (Diluted)	67	69	69	68	57
Shares Change (YoY)	-3.73%	0.31%	2.41%	18.97%	1.29%
EPS (Basic)	-1.05	0.19	-0.78	0.23	2.22
EPS (Diluted)	-1.05	0.19	-0.78	0.23	2.21
EPS Growth	-	-	-	-89.70%	131.04%
Free Cash Flow	72.28	132.56	155.72	141.13	124.79
Free Cash Flow Per Share	1.08	1.91	2.25	2.09	2.20
Dividend Per Share	1.000	1.000	1.720	1.720	1.720
Dividend Growth	-	-41.86%	-	-	-
Operating Margin	-319.17%	34.36%	-111.75%	39.77%	75.16%
Profit Margin	-441.08%	12.99%	-194.70%	16.82%	71.12%
Free Cash Flow Margin	456.22%	131.75%	562.29%	154.41%	70.64%
Effective Tax Rate	-	0.72%	-	0.15%	0.50%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Financial Services template. Financial Sources.

SEC Filings: 10-K · 10-Q