Last 34 quarters of trend data · Real Estate · REIT - Mortgage
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 5.48 | 13.36 | 8.02 | 7.33 | 3.11 | 6.38 | 5.46 | 15.69 | 6.11 | 8.57 | — | 4.98 | — | 11.81 | 10.31 | 1.65 | — | — | 7.24 | 5.23 | 4.16 |
| — | +109.3% | +46.8% | -53.3% | -49.1% | -25.5% | — | +214.8% | — | -27.4% | — | +202.4% | — | — | +42.3% | -68.5% | — | — | +96.5% | +1166.6% | -41.0% | |
| P/S Ratio | 6.68 | 6.09 | 5.13 | 5.09 | 4.79 | 2.86 | 3.36 | 3.47 | 3.47 | 4.83 | 3.37 | 2.50 | — | 13.82 | 66.90 | 188.82 | — | 16.34 | 6.85 | 4.30 | 14.47 |
| — | +113.1% | +52.5% | +46.9% | +37.8% | -40.8% | -0.3% | +38.5% | — | -65.1% | -95.0% | -98.7% | — | -15.4% | +876.9% | +4289.7% | — | +5.3% | -49.9% | +25.2% | +202.3% | |
| P/B Ratio | 0.94 | 0.97 | 0.82 | 0.83 | 0.80 | 0.80 | 0.89 | 0.92 | 0.89 | 0.79 | 0.55 | 0.61 | 0.65 | 0.77 | 0.75 | 0.44 | 0.69 | 0.89 | 0.98 | 0.83 | 0.81 |
| — | +21.7% | -8.1% | -10.3% | -10.2% | +0.7% | +60.6% | +51.1% | +37.7% | +2.6% | -26.4% | +37.8% | -5.4% | -12.9% | -23.2% | -46.9% | -15.6% | -5.3% | +15.2% | +266.7% | +288.2% | |
| P/FCF | 36.77 | — | 18.43 | — | 19.20 | 41.00 | 8.59 | 30.18 | 8.09 | — | 3.50 | 21.69 | 11.84 | 11.95 | 5.94 | 18.85 | 7.56 | 8.86 | 3.23 | 8.73 | 7.02 |
| — | — | +114.6% | — | +137.4% | — | +145.5% | +39.1% | -31.7% | — | -41.1% | +15.1% | +56.5% | +34.9% | +83.9% | +115.8% | +7.8% | +19.1% | -67.1% | +352.3% | +214.3% | |
| EV / EBITDA | 31.66 | 45.14 | 37.86 | 37.66 | 21.08 | 57.14 | 48.89 | 49.60 | 37.92 | 130.15 | 119.84 | 53.18 | — | 81.33 | 89.17 | 1326.51 | 1083.17 | 64.97 | 61.09 | 57.07 | 61.93 |
| — | -21.0% | -22.6% | -24.1% | -44.4% | -56.1% | -59.2% | -6.7% | — | +60.0% | +34.4% | -96.0% | — | +25.2% | +46.0% | +2224.5% | +1649.0% | -38.6% | +14.7% | +23.4% | -25.1% | |
| EV / EBIT | 32.23 | 49.33 | 39.49 | 36.39 | 20.74 | 58.72 | 50.92 | 51.74 | 39.09 | 65.36 | 143.05 | 54.96 | — | — | — | — | — | 107.02 | 71.68 | — | 61.93 |
| — | -16.0% | -22.4% | -29.7% | -46.9% | -10.2% | -64.4% | -5.9% | — | — | — | — | — | — | — | — | — | +1.1% | +55.2% | — | -25.1% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 88.9% | 82.6% | 84.1% | 89.4% | 89.6% | 66.3% | 65.5% | 93.3% | 92.8% | 105.1% | -22.8% | 89.4% | 100.0% | 100.0% | 100.0% | -632.3% | 100.0% | 59.8% | 84.5% | 95.0% | 73.1% |
| — | +24.6% | +28.5% | -4.2% | -3.4% | -36.9% | +387.7% | +4.4% | -7.2% | +5.1% | -122.8% | +114.1% | 0.0% | +67.3% | +18.3% | -765.9% | +36.9% | -17.8% | +18.1% | +16.3% | +3.2% | |
| Operating Margin | 129.7% | 78.5% | 93.9% | 98.9% | 183.6% | 46.8% | 63.3% | 68.1% | 104.0% | 57.3% | 65.1% | 114.4% | 20.1% | 345.1% | 1625.8% | 317.6% | -74.1% | 413.2% | 174.1% | 85.7% | 473.0% |
| — | +67.6% | +48.3% | +45.2% | +76.5% | -18.3% | -2.7% | -40.4% | +418.3% | -83.4% | -96.0% | -64.0% | +127.1% | -16.5% | +834.0% | +270.6% | -115.7% | +122.4% | -54.7% | -78.2% | +74.4% | |
| Net Margin | 83.3% | 46.8% | 60.0% | 63.5% | 132.7% | 39.6% | 53.2% | 33.5% | 56.6% | 49.8% | -69.4% | 53.9% | 135.2% | 101.7% | 560.3% | -1808.2% | 472.5% | 67.8% | 75.9% | 54.3% | 202.3% |
| — | +18.1% | +12.8% | +89.4% | +134.5% | -20.6% | +176.7% | -37.8% | -58.2% | -51.0% | -112.4% | +103.0% | -71.4% | +50.0% | +638.3% | -3428.4% | +133.5% | -30.3% | -46.5% | -64.4% | +130.4% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.0% | 1.9% | 2.4% | 2.7% | 5.9% | 2.9% | 3.7% | 2.3% | 3.8% | 2.1% | -2.9% | 3.3% | -3.3% | 1.4% | 1.5% | -1.1% | -1.7% | 0.9% | 2.7% | 2.7% | 3.0% |
| — | -35.1% | -34.1% | +15.7% | +54.6% | +36.6% | +228.2% | -30.6% | +217.3% | +50.1% | -295.1% | +399.1% | -95.6% | +52.4% | -46.2% | -141.8% | -155.2% | -38.2% | +21.1% | +3.3% | +193.8% | |
| ROA | 2.0% | 0.3% | 0.4% | 0.4% | 0.8% | 0.3% | 0.4% | 0.2% | 0.3% | 0.1% | -0.2% | 0.2% | -0.2% | 0.1% | 0.1% | -0.1% | -0.1% | 0.1% | 0.2% | 0.2% | 0.2% |
| — | -13.2% | -4.7% | +76.3% | +155.0% | +142.0% | +323.0% | +9.1% | +256.1% | +70.3% | -296.7% | +398.9% | -94.2% | +41.9% | -44.9% | -144.3% | -162.2% | -32.7% | +9.5% | -4.1% | +125.0% | |
| ROIC | 2.3% | 0.4% | 0.5% | 0.5% | 0.8% | 0.3% | 0.4% | 0.4% | 0.4% | 0.1% | 0.1% | 0.3% | -0.0% | 0.2% | 0.2% | 0.0% | 0.0% | 0.3% | 0.3% | 0.2% | 0.3% |
| — | +25.0% | +25.9% | +35.6% | +92.2% | +149.5% | +183.2% | +4.7% | +2042.0% | -42.4% | -36.4% | +3508.6% | -283.7% | -21.0% | -30.3% | -95.1% | -95.8% | +114.4% | -7.3% | -41.2% | +71.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 5.36 | 5.19 | 5.13 | 5.36 | 5.78 | 6.88 | 7.67 | 8.44 | 9.64 | 12.62 | 14.76 | 14.72 | 14.83 | 15.28 | 15.97 | 13.94 | 15.67 | 14.25 | 14.74 | 15.79 | 15.69 |
| — | -24.6% | -33.1% | -36.4% | -40.1% | -45.5% | -48.1% | -42.7% | -35.0% | -17.4% | -7.6% | +5.6% | -5.4% | +7.2% | +8.3% | -11.7% | -0.1% | -22.3% | +11.9% | +10.5% | +5.7% | |
| Debt / EBITDA | 26.79 | 156.19 | 131.29 | 131.34 | 74.31 | 205.20 | 175.90 | 179.03 | 139.69 | 490.21 | 462.96 | 204.77 | — | 310.50 | 342.34 | 5156.08 | 4162.28 | 246.32 | 230.15 | 217.51 | 236.16 |
| — | -23.9% | -25.4% | -26.6% | -46.8% | -58.1% | -62.0% | -12.6% | — | +57.9% | +35.2% | -96.0% | — | +26.1% | +48.7% | +2270.5% | +1662.5% | -39.1% | +14.7% | +18.8% | -27.8% | |
| Current Ratio | 0.31 | 1.28 | 0.44 | 0.31 | 0.29 | 12.06 | 12.12 | 13.12 | 13.32 | 21.21 | 18.57 | 0.12 | 21.46 | 21.23 | 21.38 | 22.45 | 21.55 | 23.33 | 25.17 | 28.29 | 34.97 |
| — | -89.4% | -96.4% | -97.6% | -97.8% | -43.1% | -34.7% | +10690.5% | -37.9% | -0.1% | -13.1% | -99.5% | -0.4% | -9.0% | -15.1% | -20.6% | -38.4% | -30.0% | -27.7% | -23.1% | -5.9% | |
| Quick Ratio | 0.31 | 1.28 | 0.44 | 0.31 | 0.29 | 12.06 | 12.12 | 13.12 | 13.32 | 21.21 | 18.57 | 0.12 | 21.46 | 21.23 | 21.38 | 22.45 | 21.55 | 23.33 | 25.17 | 28.29 | 34.97 |
| — | -89.4% | -96.4% | -97.6% | -97.8% | -43.1% | -34.7% | +10690.5% | -37.9% | -0.1% | -13.1% | -99.5% | -0.4% | -9.0% | -15.1% | -20.6% | -38.4% | -30.0% | -27.7% | -23.1% | -5.9% | |
| Interest Coverage | 3.88 | 2.94 | 3.47 | 3.16 | 5.91 | 2.07 | 2.46 | 2.44 | 3.23 | 2.15 | 1.06 | 2.37 | -0.04 | -0.04 | -0.04 | -0.04 | -0.05 | 1.98 | 3.15 | 2.66 | 4.23 |
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Includes 30+ ratios · 34 years · Updated daily
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Quick answers to the most common questions about buying NREF stock.
NexPoint Real Estate Finance, Inc.'s current P/E is 5.5x. The average P/E over the last 4 quarters is 8.0x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
NexPoint Real Estate Finance, Inc.'s current operating margin is 129.7%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking NexPoint Real Estate Finance, Inc.'s business trajectory between earnings reports.