KREF (KKR Real Estate Finance Trust) Pre-Tax Income: $-102.1 Mil (TTM As of Mar. 2026)

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KREF KKR Real Estate Finance Trust Inc KREF
45 GF Score
Price $7.29
GF Value $7.06
Valuation Fairly Valued
! 3 Warning Signs
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What is KKR Real Estate Finance Trust Pre-Tax Income?

KKR Real Estate Finance Trust KREF -4.08% 45 Pre-Tax Income is $-102.1 Mil as of Mar. 2026. GuruFocus rates KREF with a GF Score™ of 45/100 and a GF Value™ of $7.06 (Fairly Valued). The stock has 3 warning signs investors should review.

Pretax income is the income that a company earns before paying income taxes. KKR Real Estate Finance Trust's pretax income for the three months ended in Mar. 2026 was $-57.2 Mil. Its pretax income for the trailing twelve months (TTM) ended in Mar. 2026 was $-102.1 Mil. KKR Real Estate Finance Trust's pretax margin was -201.04%.

During the past 11 years, KKR Real Estate Finance Trust's highest Pretax Margin was 93.78%. The lowest was -91.29%. And the median was 67.03%.


KKR Real Estate Finance Trust  (NYSE:KREF) Pre-Tax Income Explanation

KKR Real Estate Finance Trust's Pretax Margin for the quarter that ended in Mar. 2026 is calculated as

Pretax Margin=Pretax Income/Revenue
=-57.159/28.431
=-201.04%

During the past 11 years, KKR Real Estate Finance Trust's highest Pretax Margin was 93.78%. The lowest was -91.29%. And the median was 67.03%.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


KKR Real Estate Finance Trust Pre-Tax Income Related Terms


KKR Real Estate Finance Trust Pre-Tax Income Historical Data

* Premium members only.

The historical data trend for KKR Real Estate Finance Trust's Pre-Tax Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

KKR Real Estate Finance Trust Pre-Tax Income Chart

KKR Real Estate Finance Trust Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Pre-Tax Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 137.87 37.65 -30.95 34.58 -50.65

KKR Real Estate Finance Trust Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Pre-Tax Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -5.75 -30.57 12.77 -27.10 -57.16

KREF vs CMTG, RWT, RC: Pre-Tax Income Comparison

For the REIT - Mortgage subindustry, KKR Real Estate Finance Trust's Pre-Tax Income, along with its competitors' market caps and Pre-Tax Income data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


KKR Real Estate Finance Trust Pre-Tax Income vs REITs Industry

For the REITs industry and Real Estate sector, KKR Real Estate Finance Trust's Pre-Tax Income distribution charts can be found below:

* The bar in red indicates where KKR Real Estate Finance Trust's Pre-Tax Income falls into.


KREF
45GF Score
KKR Real Estate Finance Trust Inc KREF
Pre-Tax Income is just one metric. See GF Score™, valuation, warning signs, and more.
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KKR Real Estate Finance Trust Pre-Tax Income Calculation

This is the income that a company earns before paying income taxes.

KKR Real Estate Finance Trust's Pretax Income for the fiscal year that ended in Dec. 2025 is calculated as

Pretax Income=Operating Income+Other
=0+-50.645
=-50.6

KKR Real Estate Finance Trust's Pretax Income for the quarter that ended in Mar. 2026 is calculated as

Pretax Income=Operating Income+Other
=0+-57.159
=-57.2

Pre-Tax Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-102.1 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Pre-Tax Income →
What does a Pre-Tax Income of $-102.1 Mil mean?
KKR Real Estate Finance Trust (KREF) has a Pre-Tax Income of $-102.1 Mil as of Mar. 2026. Pre-Tax Income is the total earnings before taxes but after all operating and interest expenses. View historical data on KKR Real Estate Finance Trust and its competitors.
Is KKR Real Estate Finance Trust's Pre-Tax Income too high?
KKR Real Estate Finance Trust's current Pre-Tax Income is $-102.1 Mil. Overall, KKR Real Estate Finance Trust has a GF Score™ of 45/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does KKR Real Estate Finance Trust's Pre-Tax Income compare to CMTG and RWT?
KKR Real Estate Finance Trust's Pre-Tax Income of $-102.1 Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Pre-Tax Income for a REITs company?
A good Pre-Tax Income depends on the REITs industry context. However, Pre-Tax Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Pre-Tax Income mean?
A high Pre-Tax Income can signal that a stock is expensive relative to its fundamentals. Pre-Tax Income is the total earnings before taxes but after all operating and interest expenses. View historical data on KKR Real Estate Finance Trust and its competitors. KKR Real Estate Finance Trust's current Pre-Tax Income is $-102.1 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KKR Real Estate Finance Trust stock overvalued right now?
Based on GuruFocus' analysis, KKR Real Estate Finance Trust (KREF) is currently considered Fairly Valued. The stock's GF Value™ is $7.06, compared to a current price of $7.29 — trading 3.3% above its estimated fair value. The current Pre-Tax Income is $-102.1 Mil. KKR Real Estate Finance Trust's overall GF Score™ is 45/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Pre-Tax Income calculated?
Pre-Tax Income is calculated from a company's financial statements. For KKR Real Estate Finance Trust (KREF), the current Pre-Tax Income is $-102.1 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is KKR Real Estate Finance Trust (KREF) Overvalued in 2026?

Based on GuruFocus' analysis, KKR Real Estate Finance Trust stock appears to be overvalued. The current stock price of $7.29 is trading 3.3% above its estimated GF Value™ of $7.06. GuruFocus considers KKR Real Estate Finance Trust to be Fairly Valued.

Key valuation signals for KREF:

  • Pre-Tax Income: $-102.1 Mil
  • GF Value™: $7.06 vs. price of $7.29 (3.3% above fair value)
  • GF Score™: 45/100 with 3 warning signs

No single metric tells the full story. See the KREF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


KKR Real Estate Finance Trust Business Description

Industry Real EstateREITs
Other Exchanges KREFpA.PFD:USA8KR:Germany
Address 30 Hudson Yards, Suite 7500, New York, NY, USA, 10001
KKR Real Estate Finance Trust Inc is a real estate finance company that focuses on originating and acquiring senior mortgage loans secured by CRE assets. The investment is to originate or acquire senior mortgage loans collateralized by institutional-quality CRE assets that are owned and operated by experienced and well-capitalized sponsors and located in liquid markets with underlying fundamentals. KKR manages investments across multiple asset classes, including private equity, real estates, energy, infrastructure, credit, and hedge funds. The company's investment objective is capital preservation and generating attractive risk-adjusted returns for its stockholders over the long term, through dividends.
45GF Score

Get the complete analysis for KREF

Pre-Tax Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$7.29
Price
$7.06
GF Value