Nexpoint Real Estate Finance Inc Financials

NREF

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Neutral

4/9

Nexpoint Real Estate Finance Inc passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.

Earnings Quality Mixed

0.81x

For every $1 of reported earnings, Nexpoint Real Estate Finance Inc generates $0.81 in operating cash flow ($29.3M OCF vs $36.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

This page shows Nexpoint Real Estate Finance Inc (NREF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Export CSV

Key Financial Metrics

Revenue

N/A

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$36.0M

YoY+91.9%

Nexpoint Real Estate Finance Inc reported $36.0M in net income in fiscal year 2024. This represents an increase of 91.9% from the prior year.

EPS (Diluted)

$1.02

YoY+70.0%

Nexpoint Real Estate Finance Inc earned $1.02 per diluted share (EPS) in fiscal year 2024. This represents an increase of 70.0% from the prior year.

Cash & Debt

$3.9M

YoY-72.0%

Nexpoint Real Estate Finance Inc held $3.9M in cash against $799.3M in long-term debt as of fiscal year 2024.

Dividends Per Share

$2.00

YoY-27.0%

Nexpoint Real Estate Finance Inc paid $2.00 per share in dividends in fiscal year 2024. This represents a decrease of 27.0% from the prior year.

Shares Outstanding

17M

YoY+1.3%

Nexpoint Real Estate Finance Inc had 17M shares outstanding in fiscal year 2024. This represents an increase of 1.3% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

10.7%

YoY+5.3pp

Nexpoint Real Estate Finance Inc's ROE was 10.7% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 5.3 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

NREF Income Statement

Metric	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$12.8M+39.2%	$9.2M+27.1%	$7.2M+13.7%	$6.4M+88.4%	$3.4M
Operating Income	N/A	N/A	N/A	N/A	N/A
Interest Expense	$44.4M-13.9%	$51.6M+28.1%	$40.3M+35.2%	$29.8M+39.7%	$21.3M
Income Tax	N/A	N/A	N/A	N/A	N/A
Net Income	$36.0M+91.9%	$18.7M+31.8%	$14.2M-83.0%	$83.5M+144.3%	$34.2M
EPS (Diluted)	$1.02+70.0%	$0.60+172.7%	$0.22-94.4%	$3.93+125.9%	$1.74

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$3.4M-10.3%	$3.8M+49.8%	$2.5M+16.2%	$2.2M-32.0%	$3.2M-24.1%	$4.2M	N/A	$2.5M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$10.4M-3.8%	$10.8M+2.2%	$10.5M-4.6%	$11.0M-3.9%	$11.5M+2.3%	$11.2M	N/A	$13.2M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$50.9M+128.4%	$22.3M-14.2%	$26.0M+11.3%	$23.3M+92.6%	$12.1M+182.7%	-$14.6M	N/A	-$17.1M
EPS (Diluted)	$1.14+111.1%	$0.54-22.9%	$0.70-5.4%	$0.74+85.0%	$0.40+148.2%	$-0.83	N/A	$-0.90

NREF Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20
Total Assets	$5.4B-22.8%	$7.0B-13.9%	$8.2B-4.2%	$8.5B+37.8%	$6.2B
Current Assets	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$3.9M-72.0%	$13.8M-31.0%	$20.0M-24.2%	$26.5M-12.5%	$30.2M
Inventory	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.8B-26.3%	$6.6B-13.6%	$7.6B-5.0%	$8.0B+38.7%	$5.8B
Current Liabilities	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$799.3M-37.2%	$1.3B-5.7%	$1.3B+5.7%	$1.3B+22.9%	$1.0B
Total Equity	$336.5M-3.2%	$347.4M-22.5%	$448.5M+82.9%	$245.3M+91.3%	$128.2M
Retained Earnings	-$54.9M-53.4%	-$35.8M-907.7%	$4.4M-84.4%	$28.4M+714.0%	$3.5M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$5.3B-2.3%	$5.4B+0.1%	$5.4B-0.3%	$5.4B-17.6%	$6.6B-7.2%	$7.1B+0.9%	$7.0B+1.9%	$6.9B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$17.9M+97.9%	$9.1M-52.9%	$19.2M+395.8%	$3.9M-9.1%	$4.3M-68.4%	$13.5M-2.5%	$13.8M+25.9%	$11.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.5B-4.6%	$4.7B-1.2%	$4.8B-1.4%	$4.8B-20.5%	$6.1B-8.2%	$6.6B+1.0%	$6.6B+1.9%	$6.5B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$720.9M-11.6%	$815.6M-1.9%	$831.5M+4.0%	$799.3M-7.2%	$861.0M+2.1%	$843.3M-33.7%	$1.3B+4.7%	$1.2B
Total Equity	$375.4M+7.8%	$348.2M+1.3%	$343.7M+2.1%	$336.5M+2.8%	$327.5M+0.1%	$327.1M-5.9%	$347.4M+0.7%	$345.0M
Retained Earnings	-$19.0M+57.5%	-$44.6M+6.1%	-$47.5M+13.5%	-$54.9M+10.0%	-$61.1M-2.9%	-$59.3M-65.6%	-$35.8M+3.8%	-$37.2M

NREF Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$29.3M-7.2%	$31.6M-52.0%	$65.8M+33.5%	$49.3M+49.8%	$32.9M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$956.5M+29.0%	$741.3M-22.0%	$950.6M+83.6%	$517.9M+858.7%	-$68.3M
Financing Cash Flow	-$995.4M-28.2%	-$776.6M+24.5%	-$1.0B-81.4%	-$567.4M-924.4%	$68.8M
Dividends Paid	$34.8M-27.3%	$48.0M+61.7%	$29.7M+109.3%	$14.2M+92.0%	$7.4M
Share Buybacks	N/A	N/A	$0	$0-100.0%	$4.8M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$8.1M+144.0%	$3.3M-79.3%	$16.0M+268.0%	$4.4M+158.1%	-$7.5M-142.4%	$17.7M+466.2%	$3.1M-47.5%	$6.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$190.1M+938.5%	$18.3M-74.3%	$71.3M-67.7%	$220.6M+327.6%	$51.6M-90.5%	$545.4M+435.5%	$101.9M-51.1%	$208.1M
Financing Cash Flow	-$190.3M-506.8%	-$31.4M+55.7%	-$70.9M+72.4%	-$256.6M-357.7%	-$56.1M+90.0%	-$560.5M-453.5%	-$101.3M+54.5%	-$222.7M
Dividends Paid	$8.4M-5.6%	$8.9M+1.0%	$8.8M-9.2%	$9.7M+10.7%	$8.7M+0.9%	$8.7M-31.2%	$12.6M+6.5%	$11.8M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

NREF Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A
Return on Equity	10.7%+5.3pp	5.4%+2.2pp	3.2%-30.9pp	34.0%+7.4pp	26.6%
Return on Assets	0.7%+0.4pp	0.3%+0.1pp	0.2%-0.8pp	1.0%+0.4pp	0.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.38-1.3	3.66+0.7	3.01-2.2	5.20-2.9	8.10
FCF Margin	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	13.6%+7.2pp	6.4%-1.1pp	7.5%+0.6pp	7.0%+3.3pp	3.7%	N/A	N/A	N/A
Return on Assets	1.0%+0.5pp	0.4%-0.1pp	0.5%+0.1pp	0.4%+0.2pp	0.2%+0.4pp	-0.2%	N/A	-0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.92-0.4	2.34-0.1	2.42+0.0	2.38-0.3	2.63+0.1	2.58-1.1	3.66+0.1	3.52
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Similar Companies

Claros Mtg Tr Inc CMTG

$360.4M

Invesco Mort IVR

$625.3M

Tpg Re Finance T TRTX

$692.6M

Kkr Real Estate KREF

$450.6M

Brightspire Capital Inc BRSP

$743.4M

Frequently Asked Questions

Is Nexpoint Real Estate Finance Inc profitable?

Yes, Nexpoint Real Estate Finance Inc (NREF) reported a net income of $36.0M in fiscal year 2024.

What is Nexpoint Real Estate Finance Inc's earnings per share (EPS)?

Nexpoint Real Estate Finance Inc (NREF) reported diluted earnings per share of $1.02 for fiscal year 2024. This represents a 70.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Nexpoint Real Estate Finance Inc have?

As of fiscal year 2024, Nexpoint Real Estate Finance Inc (NREF) had $3.9M in cash and equivalents against $799.3M in long-term debt.

Does Nexpoint Real Estate Finance Inc pay dividends?

Yes, Nexpoint Real Estate Finance Inc (NREF) paid $2.00 per share in dividends during fiscal year 2024.

What is Nexpoint Real Estate Finance Inc's return on equity (ROE)?

Nexpoint Real Estate Finance Inc (NREF) has a return on equity of 10.7% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Nexpoint Real Estate Finance Inc's operating cash flow?

Nexpoint Real Estate Finance Inc (NREF) generated $29.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Nexpoint Real Estate Finance Inc's total assets?

Nexpoint Real Estate Finance Inc (NREF) had $5.4B in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does Nexpoint Real Estate Finance Inc have outstanding?

Nexpoint Real Estate Finance Inc (NREF) had 17M shares outstanding as of fiscal year 2024.

What is Nexpoint Real Estate Finance Inc's debt-to-equity ratio?

Nexpoint Real Estate Finance Inc (NREF) had a debt-to-equity ratio of 2.38 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Nexpoint Real Estate Finance Inc's return on assets (ROA)?

Nexpoint Real Estate Finance Inc (NREF) had a return on assets of 0.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Nexpoint Real Estate Finance Inc's Piotroski F-Score?

Nexpoint Real Estate Finance Inc (NREF) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Nexpoint Real Estate Finance Inc's earnings high quality?

Nexpoint Real Estate Finance Inc (NREF) has an earnings quality ratio of 0.81x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.