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NexPoint Real Estate Finance, Inc. (NREF) 10-Year Financial Performance & Capital Metrics

NREF • • REIT / Real Estate
Real EstateMortgage REITsCommercial Mortgage REITsDiversified Commercial Lenders
AboutNexPoint Real Estate Finance, Inc. operates as a real estate finance company in the United States. It focuses on originating, structuring, and investing in first mortgage loans, mezzanine loans, preferred equity, and preferred stock, as well as multifamily commercial mortgage backed securities securitizations. The company intends to qualify as a real estate investment trust for U.S. federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was incorporated in 2019 and is based in Dallas, Texas.Show more
  • Revenue $110M +162.1%
  • FFO $35M +111.7%
  • FFO/Share 2.00 +109.2%
  • FFO Payout 100.11% -65.7%
  • FFO per Share 2.00 +109.2%
  • NOI Margin 89.97%
  • FFO Margin 31.55% -19.2%
  • ROE 5.74% +103.4%
  • ROA 0.47% +154.9%
  • Debt/Assets 89.08% -4.7%
  • Net Debt/EBITDA 53.34 -79.3%
  • Book Value/Share 32.85 +26.8%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓FFO growing 196.2% TTM
  • ✓High NOI margin of 90.0%
  • ✓Trading at only 0.5x book value

✗Weaknesses

  • ✗High debt to equity ratio of 8.4x
  • ✗Weak 3Y average ROE of 3.3%
  • ✗Dividend exceeds FFO - may not be sustainable
  • ✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y26.35%
3Y46.97%
TTM68.32%

Profit (Net Income) CAGR

10Y-
5Y8.53%
3Y-12.17%
TTM210.3%

EPS CAGR

10Y-
5Y-23.45%
3Y-36.21%
TTM163%

ROCE

10Y Avg-0.13%
5Y Avg0.71%
3Y Avg0.71%
Latest1.45%

Peer Comparison

Diversified Commercial Lenders
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Size & Scale
Valuation
Per Share
Growth
Profitability
Quality & Returns
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TTM Growth
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Latest Quarter
Momentum & Returns
Total Return (DRIP)
Technical
Volume & Trading
Shares & Dilution
Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
ACRACRES Commercial Realty Corp.150.01M20.5917.90-8.39%29.62%7.27%12.92%3.13
NREFNexPoint Real Estate Finance, Inc.263.17M14.8514.56162.1%57.58%12.44%11.13%8.44
FBRTFranklin BSP Realty Trust, Inc.836.47M10.2512.50-3.62%14.83%5.54%6.84%2.84
TRTXTPG RE Finance Trust, Inc.716.09M9.1511.88302.62%31.56%6.15%14.92%2.31
ABRArbor Realty Trust, Inc.1.61B8.216.96-12.72%49.85%5.9%28.72%3.19
RPTRithm Property Trust Inc.123.34M16.30-7.12380.09%-17.24%-2.24%0.24%2.93
ACREAres Commercial Real Estate Corporation280.08M5.09-7.9578.75%-29.15%-1.48%12.69%2.17
ARIApollo Commercial Real Estate Finance, Inc.1.4B10.09-10.40146.01%23.05%7.42%2.19%3.41

Profit & Loss

Dec 2015Dec 2016Dec 2018Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Revenue+1.5M3.88M34.27M19.49M34.75M40.38M42.09M110.32M
Revenue Growth %-1.58%7.82%-0.43%0.78%0.16%0.04%1.62%
Property Operating Expenses600K1.46M11.07M004.39M4.19M11.06M
Net Operating Income (NOI)+--------
NOI Margin %--------
Operating Expenses+2.14M3.11M3.8M19.49M34.75M10.39M12.48M16.68M
G&A Expenses414K1.5M3.8M4.93M6.37M7.24M12.48M12.81M
EBITDA+94K882K00028.49M25.42M90.39M
EBITDA Margin %--------
Depreciation & Amortization+1.33M1.6M-19.39M002.9M05.61M
D&A / Revenue %--------
Operating Income+-1.23M-721K19.39M0025.59M25.42M84.77M
Operating Margin %--------
Interest Expense+429K1.51M021.31M29.77M40.26M51.56M44.37M
Interest Coverage-2.88x-0.48x---0.64x0.49x1.91x
Non-Operating Income147K-727K19.39M00025.42M0
Pretax Income+-1.81M-1.5M19.39M34.17M83.47M14.21M18.74M35.96M
Pretax Margin %--------
Income Tax+00000000
Effective Tax Rate %--------
Net Income+-1.76M-1.5M19.39M12.85M43.09M6.75M13.97M29.19M
Net Margin %--------
Net Income Growth %-0.15%13.9%-0.34%2.35%-0.84%1.07%1.09%
Funds From Operations (FFO)+--------
FFO Margin %--------
FFO Growth %-1.23%-1%---0.71%1.12%
FFO per Share+--------
FFO Payout Ratio %--------
EPS (Diluted)+-0.35-0.303.881.743.930.220.601.02
EPS Growth %-0.14%13.93%-0.55%1.26%-0.94%1.73%0.7%
EPS (Basic)-0.35-0.303.882.136.000.220.601.02
Diluted Shares Outstanding5M5M5M5.21M20.37M14.69M17.2M17.4M

Balance Sheet

Dec 2015Dec 2016Dec 2018Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Assets+41.06M45.83M2.02B6.18B8.51B8.15B7.02B5.42B
Asset Growth %-0.12%43.02%2.06%0.38%-0.04%-0.14%-0.23%
Real Estate & Other Assets+40.03M39.64M038.98M132.09M292.1M167.76M156.81M
PP&E (Net)00000000
Investment Securities01000K1000K1000K1000K1000K1000K1000K
Total Current Assets+1.03M934K1.98B6.09B8.32B7.75B6.74B5.15B
Cash & Equivalents601K456K10.82M30.24M26.46M20.05M13.82M3.88M
Receivables25K164K1000K1000K1000K1000K1000K1000K
Other Current Assets368K227K3.44M9.05M15.48M18.16M29.17M45.84M
Intangible Assets00000000
Total Liabilities37.96M39.18M1.78B5.77B8.01B7.61B6.57B4.84B
Total Debt+36.7M37.69M1.78B5.77B8B7.59B6.56B4.82B
Net Debt36.1M37.23M1.77B5.74B7.97B7.57B6.54B4.82B
Long-Term Debt36.7M37.69M1.72B5.61B7.71B7.26B6.25B4.45B
Short-Term Borrowings001000K1000K1000K1000K1000K1000K
Capital Lease Obligations00000000
Total Current Liabilities+1.26M1.49M57.66M165.56M294.21M345.24M318.15M392.85M
Accounts Payable267K851K170.71K1.78M3.9M6.23M6.43M9.46M
Deferred Revenue00000000
Other Liabilities0000-1000
Total Equity+3.1M6.64M239.85M403.91M506.71M545.01M445.51M571.69M
Equity Growth %-1.14%35.1%0.68%0.25%0.08%-0.18%0.28%
Shareholders Equity2.42M6M0128.24M238.01M383.98M355.94M482.18M
Minority Interest681K647K239.85M275.67M268.69M161.03M89.57M89.51M
Common Stock5K10K050K92K171K172K174K
Additional Paid-in Capital4.2M9.48M0138.04M222.3M392.12M395.74M387.89M
Retained Earnings-1.76M-3.47M03.48M28.37M4.43M-35.82M-54.95M
Preferred Stock000-8.55M-8.55M-8.55M48K149.06M
Return on Assets (ROA)-0.04%-0.03%0.02%0%0.01%0%0%0%
Return on Equity (ROE)-0.57%-0.31%0.16%0.04%0.09%0.01%0.03%0.06%
Debt / Assets0.89%0.82%0.88%0.93%0.94%0.93%0.93%0.89%
Debt / Equity11.84x5.67x7.41x14.28x15.79x13.94x14.72x8.44x
Net Debt / EBITDA384.00x42.21x---265.88x257.47x53.34x
Book Value per Share0.621.3347.9777.5924.8837.1125.9032.85

Cash Flow

Dec 2015Dec 2016Dec 2018Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+471K767K032.9M49.3M65.8M31.56M29.28M
Operating CF Growth %-0.63%-1%-0.5%0.33%-0.52%-0.07%
Operating CF / Revenue %--------
Net Income-1.81M-1.5M19.39M34.17M83.47M14.21M13.97M35.96M
Depreciation & Amortization1.33M1.6M0002.9M2.46M5.61M
Stock-Based Compensation021K0548K2.02M3.29M4.41M6.07M
Other Non-Cash Items20K919K-19.39M1.95M-36.58M52.86M17.23M-6.68M
Working Capital Changes933K456K0-3.77M378K-7.46M-6.53M-11.68M
Cash from Investing+-41.08M-6.42M0-68.26M517.88M950.58M741.34M956.54M
Acquisitions (Net)000-87K001.81M0
Purchase of Investments0-11.25M0-190.52M-243.63M-153.74M-20.77M-139.77M
Sale of Investments01000K001000K1000K546K1000K
Other Investing-41.08M-1.17M0122.35M757.59M1.1B759.75M878.1M
Cash from Financing+41.38M5.36M068.83M-567.41M-1.03B-776.6M-995.42M
Dividends Paid0-12K0-8.25M-17.67M-33.16M-51.53M-46.34M
Common Dividends0-12K0-8.25M-14.16M-29.65M-47.95M-34.84M
Debt Issuance (Net)1000K1000K01000K1000K1000K-1000K-1000K
Share Repurchases000-13.36M00-797K0
Other Financing460K-237K0-200.19M-711.31M-1.19B-709.29M-675M
Net Change in Cash+769K-286K033.47M-239K-12.88M-3.7M-9.6M
Exchange Rate Effect00000000
Cash at Beginning200K969K0033.47M33.23M20.35M16.65M
Cash at End969K683K033.47M33.23M20.35M16.65M7.05M
Free Cash Flow+471K767K032.9M49.3M65.8M31.56M29.28M
FCF Growth %-0.63%-1%-0.5%0.33%-0.52%-0.07%
FCF / Revenue %--------

Key Ratios

Metric20152016201820202021202220232024
FFO per Share-0.090.0202.472.120.660.962
FFO Payout Ratio0%12%-64.22%32.87%307.56%291.67%100.11%
NOI Margin60.11%62.51%67.68%100%100%89.13%90.05%89.97%
Net Debt / EBITDA384.00x42.21x---265.88x257.47x53.34x
Debt / Assets89.37%82.24%88.06%93.39%93.96%93.14%93.44%89.08%
Interest Coverage-2.88x-0.48x---0.64x0.49x1.91x
Book Value / Share0.621.3347.9777.5924.8837.1125.932.85
Revenue Growth-158.24%782.21%-43.11%78.28%16.19%4.24%162.1%

Revenue by Segment

2021202220232024
Rental Income10K11.12M4.96M8.71M
Rental Income Growth-111060.00%-55.36%75.63%

Frequently Asked Questions

Valuation & Price

NexPoint Real Estate Finance, Inc. (NREF) has a price-to-earnings (P/E) ratio of 14.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

NexPoint Real Estate Finance, Inc. (NREF) reported $167.4M in revenue for fiscal year 2024. This represents a 11033% increase from $1.5M in 2015.

NexPoint Real Estate Finance, Inc. (NREF) grew revenue by 162.1% over the past year. This is strong growth.

Yes, NexPoint Real Estate Finance, Inc. (NREF) is profitable, generating $96.4M in net income for fiscal year 2024 (26.5% net margin).

Dividend & Returns

Yes, NexPoint Real Estate Finance, Inc. (NREF) pays a dividend with a yield of 13.48%. This makes it attractive for income-focused investors.

NexPoint Real Estate Finance, Inc. (NREF) has a return on equity (ROE) of 5.7%. This is below average, suggesting room for improvement.

Industry Metrics

NexPoint Real Estate Finance, Inc. (NREF) generated Funds From Operations (FFO) of $108.4M in the trailing twelve months. FFO is the primary profitability metric for REITs.

NexPoint Real Estate Finance, Inc. (NREF) offers a 13.48% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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