KKR Real Estate Finance Trust I — Earnings Quality Grade F
KREF · Real Estate
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO surged by 22 days (68 → 89)
Small-cap context: DSO swings on a small revenue base are more often quarterly customer-mix effects than red flags.
AR growth -3.7% vs revenue growth -27.2%
Revenue -27.2%, CFFO -45.5%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth -31.1% vs revenue -27.2%. Normal
Insufficient data
Insufficient data
Cash Flow Quality
CFFO/NI = -1.54. Below 1.0
FCF $0.1B, FCF/NI = -1.42
Accruals ratio = -1.8%. Low accruals
Cash $0.1B covers only 2% of debt $4.1B
Balance Sheet Health
No goodwill. Clean balance sheet
Insufficient data
Insufficient data
No write-off data
Acquisition Risk
FCF after acquisitions positive
No goodwill
Manipulation Score
Insufficient data
Portfolio monitoring
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Altman Z-Score — Not Applicable
KKR Real Estate Finance Trust I is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25