NYSE : NREF
NexPoint Real Estate Finance, Inc. — Financial statements
Real Estate · REIT - Mortgage · United States
Last price 15.31 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 352.65M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest and Dividend Income | 122.97M | 109.36M | 74.52M | 68.55M | 77.99M | 55.83M |
| Total Interest Expense | 39.55M | 42.77M | 44.37M | 51.56M | 40.26M | 29.77M |
| Net Interest Income | 83.42M | 66.59M | 30.14M | 16.99M | 37.73M | 26.05M |
| Gain (Loss) on Sale of Investments | 84.33M | 119.13M | 35.87M | 25.30M | -8.90M | 70.97M |
| Other Revenue | 7.75M | 6.89M | 6.35M | 4.10M | 11.72M | 533.00K |
| Revenue Before Loan Losses | 179.15M | 196.26M | 72.37M | 46.39M | 40.55M | 97.56M |
| Provision for Loan Losses | 27.85M | 38.97M | -723.00K | 4.30M | 169.00K | 189.00K |
| Revenue | 151.29M | 157.29M | 73.09M | 42.09M | 40.38M | 97.37M |
| Salaries & Employee Benefits | 6.17M | 5.99M | 6.07M | 4.41M | 3.29M | 2.02M |
| Cost of Services Provided | 15.81M | 14.81M | 12.19M | 12.26M | 11.50M | 11.82M |
| Other Operating Expenses | 14.18M | 12.89M | 18.38M | 6.68M | 11.40M | 50.00K |
| Total Operating Expenses | 36.17M | 33.69M | 36.64M | 23.35M | 26.18M | 13.90M |
| Operating Income | 115.13M | 123.60M | 36.45M | 18.74M | 14.20M | 83.47M |
| EBT Excluding Unusual Items | 115.13M | 123.60M | 36.45M | 18.74M | 14.20M | 83.47M |
| Other Unusual Items | -286.00K | -458.00K | -488.00K | 17.00K | ||
| Pretax Income | 114.84M | 123.14M | 35.96M | 18.74M | 14.21M | 83.47M |
| Earnings From Continuing Ops. | 114.84M | 123.14M | 35.96M | 18.74M | 14.21M | 83.47M |
| Minority Interest in Earnings | -14.06M | -18.05M | -6.77M | -4.76M | -7.47M | -40.39M |
| Net Income | 100.78M | 105.10M | 29.19M | 13.97M | 6.75M | 43.09M |
| Preferred Dividends & Other Adjustments | 38.43M | 29.42M | 11.50M | 3.58M | 3.51M | 3.51M |
| Net Income to Common | 62.35M | 75.68M | 17.69M | 10.40M | 3.23M | 39.58M |
| Shares Outstanding (Basic) | 18.23M | 17.67M | 17.40M | 17.20M | 14.69M | 6.60M |
| Shares Outstanding (Diluted) | 49.63M | 42.01M | 17.40M | 17.20M | 14.69M | 20.37M |
| EPS (Basic) | 3.42 | 4.28 | 1.02 | 0.60 | 0.22 | 6.00 |
| EPS (Diluted) | 2.24 | 2.85 | 1.02 | 0.60 | 0.22 | 3.93 |
| Dividend Per Share | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 1.90 |
| Operating Margin | 76.09% | 78.58% | 49.87% | 44.52% | 35.16% | 85.73% |
| Profit Margin | 41.21% | 48.11% | 24.21% | 24.71% | 8.01% | 40.65% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 6.38M | 31.11M | 3.88M | 13.82M | 20.05M | 26.46M |
| Long-Term Investments | 347.44M | 349.90M | 105.24M | 114.58M | 110.59M | 58.46M |
| Loans & Lease Receivables | 4.62B | 4.73B | 5.10B | 6.69B | 7.71B | 8.28B |
| Other Receivables | 58.09M | 54.56M | 42.66M | 26.34M | 17.86M | 8.71M |
| Restricted Cash | 131.85M | 3.24M | 3.18M | 2.83M | 299.00K | 6.77M |
| Other Long-Term Assets | 200.04M | 154.31M | 156.81M | 167.76M | 292.10M | 132.09M |
| Total Assets | 5.37B | 5.32B | 5.42B | 7.02B | 8.15B | 8.51B |
| Accounts Payable | 15.69M | 13.70M | 9.46M | 6.43M | 6.23M | 3.90M |
| Accrued Expenses | 13.36M | 13.79M | 10.02M | 8.21M | 7.99M | 3.98M |
| Short-Term Debt | 196.75M | 268.01M | 309.87M | 303.51M | 331.02M | 286.32M |
| Current Portion of Long-Term Debt | 73.44M | 286.11M | 99.70M | |||
| Long-Term Debt | 4.21B | 3.91B | 4.42B | 6.25B | 7.26B | 7.71B |
| Total Liabilities | 4.51B | 4.49B | 4.84B | 6.57B | 7.61B | 8.01B |
| Common Stock | 189.00K | 186.00K | 174.00K | 172.00K | 171.00K | 92.00K |
| Additional Paid-In Capital | 400.46M | 404.21M | 387.89M | 395.74M | 392.12M | 222.30M |
| Retained Earnings | -21.05M | -16.52M | -54.95M | -35.82M | 4.43M | 28.37M |
| Total Common Equity | 379.60M | 387.87M | 333.12M | 355.89M | 392.54M | 246.56M |
| Minority Interest | 81.76M | 82.33M | 89.51M | 89.57M | 161.03M | 268.69M |
| Shareholders' Equity | 862.37M | 831.87M | 571.69M | 445.51M | 545.01M | 506.71M |
| Total Liabilities & Equity | 5.37B | 5.32B | 5.42B | 7.02B | 8.15B | 8.51B |
| Total Debt | 4.48B | 4.46B | 4.82B | 6.56B | 7.59B | 8.00B |
| Net Cash (Debt) | -4.47B | -4.43B | -4.82B | -6.54B | -7.57B | -7.97B |
| Net Cash Per Share | -90.05 | -105.47 | -277.04 | -380.51 | -515.79 | -391.48 |
| Filing Date Shares Outstanding | 18.85M | 18.69M | 17.64M | 17.31M | 17.47M | 14.39M |
| Total Common Shares Outstanding | 18.85M | 18.57M | 17.46M | 17.23M | 17.08M | 9.16M |
| Working Capital | 4.52B | 4.24B | 4.72B | 6.42B | 7.41B | 8.03B |
| Book Value Per Share | 20.14 | 20.88 | 19.08 | 20.65 | 22.98 | 26.91 |
| Tangible Book Value | 379.60M | 387.87M | 333.12M | 355.89M | 392.54M | 246.56M |
| Tangible Book Value Per Share | 20.14 | 20.88 | 19.08 | 20.65 | 22.98 | 26.91 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 100.78M | 105.10M | 29.19M | 13.97M | 6.75M | 43.09M |
| Depreciation & Amortization | 4.41M | 2.94M | 5.61M | 2.46M | 2.90M | |
| Other Amortization | 161.00K | 161.00K | 47.00K | -45.00K | 48.00K | |
| Loss (Gain) From Sale of Investments | -65.04M | -99.05M | 3.44M | 16.57M | 53.38M | -36.93M |
| Provision for Credit Losses | 27.85M | 38.97M | -723.00K | 4.30M | 169.00K | 189.00K |
| Loss (Gain) on Equity Investments | 585.00K | 898.00K | 3.95M | 2.56M | ||
| Stock-Based Compensation | 6.17M | 5.99M | 6.07M | 4.41M | 3.29M | 2.02M |
| Change in Accounts Payable | -53.00K | 3.09M | 2.87M | -1.85M | 3.22M | 3.27M |
| Change in Other Net Operating Assets | -785.00K | -635.00K | 4.64M | -354.00K | -433.00K | 352.00K |
| Other Operating Activities | -57.79M | -13.62M | -6.62M | -4.67M | 6.74M | 40.30M |
| Operating Cash Flow | 6.92M | 22.92M | 29.28M | 31.56M | 65.80M | 49.30M |
| Cash Acquisitions | 3.49M | 796.00K | 1.81M | |||
| Divestitures | -4.99M | |||||
| Investment in Securities | -46.03M | -141.81M | 2.22M | -22.26M | -37.95M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | 329.54M | 407.66M | 944.16M | 767.31M | 1.18B | 547.67M |
| Other Investing Activities | 11.06M | -10.37M | ||||
| Investing Cash Flow | 340.81M | 321.54M | 956.54M | 741.34M | 950.58M | 517.88M |
| Short-Term Debt Issued | 77.15M | 107.69M | 55.24M | 130.63M | 173.84M | |
| Long-Term Debt Issued | 22.73M | 139.91M | 13.97M | 185.31M | 132.81M | |
| Total Debt Issued | 415.34M | 99.88M | 247.61M | 69.21M | 315.94M | 306.66M |
| Short-Term Debt Repaid | -56.55M | -167.75M | -82.75M | -85.93M | -48.98M | |
| Long-Term Debt Repaid | -114.49M | -554.43M | -38.35M | -158.17M | -54.53M | |
| Total Debt Repaid | -388.96M | -171.04M | -722.18M | -121.09M | -244.10M | -103.52M |
| Net Debt Issued (Repaid) | 26.38M | -71.16M | -474.58M | -51.88M | 71.83M | 203.14M |
| Issuance of Preferred Stock | 157.30M | 212.61M | 140.45M | 8.60M | ||
| Preferred Share Repurchases | -1.92M | |||||
| Issuance of Common Stock | 169.07M | 83.19M | ||||
| Repurchase of Common Stock | -2.19M | -1.56M | -1.15M | -797.00K | -495.00K | -323.00K |
| Common Dividends Paid | -39.47M | -35.35M | -34.84M | -47.95M | -29.65M | -14.16M |
| Preferred Dividends Paid | -34.16M | -26.39M | -11.50M | -3.58M | -3.51M | -3.51M |
| Total Dividends Paid | -73.63M | -61.74M | -46.34M | -51.53M | -33.16M | -17.67M |
| Other Financing Activities | -329.19M | -395.31M | -613.79M | -680.99M | -1.24B | -835.75M |
| Financing Cash Flow | -223.24M | -317.16M | -995.42M | -776.60M | -1.03B | -567.41M |
| Net Cash Flow | 124.49M | 27.30M | -9.60M | -3.70M | -12.88M | -239.00K |
| Cash Interest Paid | 37.70M | 38.99M | 42.56M | 51.34M | 35.42M | 27.55M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 348.05M | 249.52M | 273.97M | 271.40M | 271.40M | 186.62M |
| PE Ratio | 6.74 | 3.30 | 15.48 | 26.10 | 83.92 | 4.71 |
| PS Ratio | 2.30 | 1.59 | 3.75 | 6.45 | 6.72 | 1.92 |
| PB Ratio | 0.75 | 0.30 | 0.48 | 0.61 | 0.50 | 0.37 |
| P/OCF Ratio | 50.30 | 10.89 | 9.36 | 8.60 | 4.12 | 3.79 |
| Debt / Equity Ratio | 5.19 | 5.36 | 8.44 | 14.72 | 13.94 | 15.79 |
| Net Debt / Equity Ratio | 5.18 | 5.33 | 8.43 | 14.69 | 13.90 | 15.73 |
| Quick Ratio | 15.67 | 8.28 | 12.01 | 21.16 | 22.45 | 28.27 |
| Current Ratio | 16.11 | 8.28 | 12.01 | 21.17 | 22.45 | 28.29 |
| Asset Turnover | 0.03 | 0.03 | 0.01 | 0.01 | 0.01 | 0.01 |
| Return on Equity (ROE) | 14.87% | 17.55% | 7.07% | 3.78% | 2.70% | 18.33% |
| Return on Assets (ROA) | 2.13% | 2.29% | 0.58% | 0.25% | 0.17% | 1.14% |
| Earnings Yield | 14.85% | 42.12% | 10.66% | 5.15% | 2.49% | 23.09% |
| Dividend Yield | 13.24% | 14.89% | 12.75% | 12.70% | 12.59% | 9.33% |
| Payout Ratio | 89.15% | 58.74% | 158.76% | 368.70% | 491.61% | 41.02% |
| Buyback Yield / Dilution | -81.12% | -141.41% | -1.18% | -17.11% | 27.89% | -9.21% |
| Total Shareholder Return | -67.88% | -126.53% | 11.57% | -4.41% | 40.48% | 0.12% |