NREF

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NexPoint Real Estate Finance, Inc.

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Key Metrics

Previous Close: $17.53
52-Week Range: $12.36 – $18.43
Market Cap: $397.57M
P/E (TTM): 7.38
EPS (TTM): 2.34
Dividend Yield: 11.41%

Advanced Metrics

Price/Book: 0.86
PEG Ratio: —
Return on Equity: 14.87%
Return on Assets: 2.13%
Gross Margin: 99.17%
Operating Margin: 63.29%
Profit Margin: 66.61%
Current Ratio: 16.11
Debt/Equity: 5.19
Total Debt: $4.48B
Free Cash Flow: —
Revenue Growth: -13.70%
Earnings Growth: -46.80%
Enterprise Value: $5.28B

NREF Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$13.52M	$1.41M	$29.20M	$175.45M
Selling, General & Admin	$7.24M	$9.20M	$12.81M	$12.65M
Pretax Income	$14.21M	$18.74M	$35.96M	$123.14M
Net Income	$6.75M	$13.97M	$29.19M	$105.10M
Diluted EPS	0.22	0.60	1.02	2.85
Diluted Shares	14.69M	17.20M	17.40M	42.01M

NREF Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$20.05M	$13.82M	$3.88M	$31.11M
Receivables	$25.98M	$32.41M	$41.21M	$54.01M
Total Assets	$8.15B	$7.02B	$5.42B	$5.32B
Long-Term Debt	$7.26B	$6.25B	$4.58B	$4.20B
Total Debt	$7.26B	$6.25B	$4.58B	$4.20B
Total Liabilities	$7.61B	$6.57B	$4.84B	$4.49B
Retained Earnings	$4.43M	-$35.82M	-$54.95M	-$16.52M
Shareholders' Equity	$383.98M	$355.94M	$482.18M	$749.54M
Net Debt	$7.24B	$6.24B	$4.58B	$4.17B

NREF Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$65.80M	$31.56M	$29.28M	$22.92M
Free Cash Flow	$65.80M	$31.56M	$29.28M	$22.92M
Depreciation & Amortisation	$2.90M	$2.46M	$5.61M	$2.94M
Stock-Based Compensation	$3.29M	$4.41M	$6.07M	$5.99M
Investing Cash Flow	$950.58M	$741.34M	$956.54M	$321.54M
Financing Cash Flow	-$1.03B	-$721.17M	-$1.08B	-$424.26M
Dividends Paid	-$33.16M	-$51.53M	-$46.34M	—
Share Repurchases	$0.00	—	—	—
Net Change in Cash	-$12.88M	$51.72M	-$92.23M	-$79.81M

NREF Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$30.46M	$36.81M	$74.80M	$33.39M	$24.42M
Selling, General & Admin	$2.51M	$3.76M	$3.38M	$3.00M	$3.27M
Pretax Income	$25.96M	$22.27M	$50.86M	$24.05M	$22.63M
Net Income	$21.80M	$18.83M	$43.08M	$21.39M	$20.27M
Diluted EPS	0.70	0.54	1.14	—	0.42
Diluted Shares	36.05M	39.46M	43.85M	—	51.46M

NREF Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$19.22M	$9.06M	$17.92M	$31.11M	$22.64M
Receivables	$40.32M	$49.36M	$60.70M	$54.01M	$47.30M
Total Assets	$5.40B	$5.40B	$5.28B	$5.32B	$5.23B
Long-Term Debt	$4.50B	$4.40B	$4.22B	$4.20B	$4.19B
Total Debt	$4.50B	$4.40B	$4.22B	$4.20B	$4.19B
Total Liabilities	$4.78B	$4.72B	$4.50B	$4.49B	$4.39B
Retained Earnings	-$47.54M	-$44.65M	-$18.99M	-$16.52M	-$16.28M
Shareholders' Equity	$529.34M	$590.45M	$677.57M	$749.54M	$766.69M
Net Debt	$4.48B	$4.39B	$4.20B	$4.17B	$4.17B

NREF Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$16.04M	$3.32M	$8.10M	-$4.54M	$9.40M
Free Cash Flow	$16.04M	$3.32M	$8.10M	-$4.54M	$9.40M
Depreciation & Amortisation	$1.08M	$614.00K	$620.00K	$631.00K	$1.43M
Stock-Based Compensation	$1.28M	$1.69M	$1.50M	$1.51M	$1.41M
Investing Cash Flow	$71.28M	$18.30M	$190.07M	$41.88M	$84.69M
Financing Cash Flow	-$70.89M	-$31.37M	-$190.35M	-$131.66M	-$103.20M
Dividends Paid	-$14.05M	-$13.34M	-$16.41M	—	-$19.39M
Net Change in Cash	$16.43M	-$9.75M	$7.82M	-$94.31M	-$9.11M

Market Snapshot

About

NexPoint Real Estate Finance, Inc. is a mortgage real estate investment trust that originates, structures, and invests in commercial real estate debt. The company focuses on first mortgage loans, mezzanine loans, preferred equity, and other structured debt on commercial properties. NREF provides flexible financing solutions across various property types including multifamily, hospitality, and mixed-use developments.