Book equity contracted from $491.1M in 2024Q2 to $224.1M in 2026Q3 while total debt held near $1.6B, lifting debt-to-equity to 6.95 and reducing interest coverage to 0.36x, a profile that appears strained.
NexPoint Residential Trust, Inc. (NXRT) balance sheet — 13-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Total Assets | 1.86B | 1.89B | 1.91B | 2.11B | 2.23B | 2.06B | 1.83B | 1.87B | 1.16B | 1.06B | 1.04B | 976.27M | 697.36M | 11.23M |
| Asset Growth % | 0.54% | -1.1% | -9.5% | -5.29% | 7.84% | 12.81% | -1.97% | 60.69% | 10.03% | 1.93% | 6.06% | 40% | 6108.79% | - |
| Real Estate & Other Assets | 4.35M | 1.83B | 47.94M | 0 | -2.12B | 1.97B | 1.76B | 1.74B | -2.33B | -2.07B | -1.95B | 8.06M | 17.07M | 0 |
| PP&E (Net) | 1.77B | 0 | 1.79B | 1.86B | 1.95B | 0 | 0 | 0 | 1.07B | 956.86M | 878.47M | 900.31M | 610.64M | 8.78M |
| Investment Securities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 0 | 0 | 0 |
| Total Current Assets | 83.61M | 54.24M | 66.25M | 170.62M | 168.8M | 93.54M | 66.06M | 123.8M | 91M | 79.14M | 139.38M | 67.18M | 64.2M | 2.26M |
| Cash & Equivalents | 15.8M | 13.7M | 23.15M | 12.37M | 16.76M | 49.45M | 24.46M | 25.67M | 19.86M | 16.04M | 22.7M | 16.23M | 12.66M | 189.87K |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 7.38K |
| Other Current Assets | 60.61M | 31.48M | 30.77M | 143.66M | 23.84M | 30.76M | 30.15M | 89.5M | 49.65M | 58.61M | 113.66M | 48.83M | 49.93M | 2.06M |
| Intangible Assets | 0 | 933K | 0 | 0 | 0 | 1.55M | 1.12M | 6.24M | 1.42M | 1.34M | 4.49M | 729K | 5.44M | 193.33K |
| Total Liabilities | 1.63B | 1.59B | 1.49B | 1.61B | 1.7B | 1.59B | 1.42B | 1.44B | 862.62M | 813.8M | 779.29M | 727.34M | 499.83M | 15.2K |
| Total Debt | 1.59B | 1.56B | 1.46B | 1.48B | 1.6B | 1.55B | 1.35B | 1.36B | 824.7M | 762.48M | 763.5M | 711.34M | 486.98M | 0 |
| Net Debt | 1.58B | 1.54B | 1.44B | 1.46B | 1.58B | 1.51B | 1.32B | 1.34B | 804.84M | 746.44M | 685.11M | 695.12M | 474.31M | -189.87K |
| Long-Term Debt | 1.59B | 1.47B | 1.46B | 1.45B | 1.53B | 1.28B | 1.16B | 1.15B | 838.02M | 740.88M | 367.45M | 676.32M | 487M | 0 |
| Short-Term Borrowings | 0 | 88.1M | 0 | 23.24M | 72.64M | 278.21M | 182.32M | 216.5M | 0 | 38.42M | 340.37M | 28.8M | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 40.16M | 113.13M | 24.67M | 150.83M | 170.01M | 308.25M | 209.12M | 287.2M | 21.22M | 58.38M | 410.48M | 41.43M | 11.34M | 15.2K |
| Accounts Payable | 13.19M | 11.55M | 11.35M | 17.14M | 12.32M | 12.59M | 10.06M | 11.97M | 5.76M | 6.23M | 5.55M | 5.11M | 5.64M | 15.2K |
| Deferred Revenue | 834K | 1.17M | 1.43M | 1.77M | 1.85M | 1.77M | 1.64M | 1.66M | 0 | 1.47M | 0 | 1.82M | 792K | 0 |
| Other Liabilities | 0 | 3.46M | 2.95M | 3.16M | 3.2M | 2.94M | 44.58M | 2.22M | 0 | 29.89M | 0 | 1.54M | 2.31M | 0 |
| Total Equity | 228.87M | 300.42M | 416.15M | 499.87M | 525.3M | 475.98M | 411.02M | 429.54M | 298.6M | 241.58M | 256.1M | 248.94M | 197.52M | 11.16M |
| Equity Growth % | -114.59% | -27.81% | -16.75% | -4.84% | 10.36% | 15.8% | -4.31% | 43.85% | 23.6% | -5.67% | 2.88% | 26.03% | 1669.41% | - |
| Shareholders Equity | 224.14M | 295.5M | 410.37M | 494.62M | 519.67M | 469.85M | 407.93M | 426.24M | 296.03M | 239.44M | 231.54M | 221.55M | 176.24M | 11.16M |
| Minority Interest | 4.72M | 4.93M | 5.78M | 5.25M | 5.63M | 6.14M | 3.1M | 3.29M | 2.57M | 2.13M | 24.56M | 27.39M | 21.28M | 0 |
| Common Stock | 256K | 254K | 254K | 256K | 255K | 255K | 250K | 251K | 234K | 210K | 213K | 213K | 176.55M | 11.16M |
| Additional Paid-in Capital | 412.72M | 406.63M | 407.43M | 413.01M | 405.38M | 407.8M | 376.71M | 359.75M | 285.51M | 206.23M | 241.45M | 240.63M | 0 | 0 |
| Retained Earnings | -192.28M | -123.41M | -38.03M | 11.49M | 11.88M | 59.21M | 75.32M | 63.78M | -6.76M | 19.29M | -14.58M | -18.59M | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 281K | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | -1.98% | -1.69% | 0.06% | 2.04% | -0.43% | 1.18% | 2.38% | 6.55% | -0.15% | 5.11% | 2.18% | -1.29% | -4.4% | -1.51% |
| Return on Equity (ROE) | -14.03% | -8.94% | 0.24% | 8.64% | -1.85% | 5.19% | 10.47% | 27.23% | -0.6% | 21.45% | 8.67% | -4.85% | -14.95% | -1.52% |
| Debt / Assets | 85.54% | 82.56% | 76.73% | 70.08% | 71.88% | 75.33% | 73.54% | 72.98% | 71.02% | 72.25% | 73.74% | 72.86% | 69.83% | - |
| Debt / Equity | 6.95x | 5.18x | 3.52x | 2.95x | 3.04x | 3.27x | 3.27x | 3.17x | 2.76x | 3.16x | 2.98x | 2.86x | 2.47x | - |
| Net Debt / EBITDA | 12.90x | 12.48x | 7.94x | 7.03x | 11.00x | 9.95x | 8.00x | 6.31x | 12.52x | 5.32x | 11.92x | 14.40x | 41.66x | - |
| Book Value per Share | 8.96 | 11.83 | 15.86 | 19.05 | 20.51 | 18.48 | 16.29 | 17.47 | 13.78 | 11.29 | 12.02 | 11.69 | 9.23 | 0.52 |
Quick answers to the most common questions about buying NXRT stock.
As of 2025, NexPoint Residential Trust, Inc. (NXRT) had total assets of $1.89B including $54.2M in current assets.
NexPoint Residential Trust, Inc. (NXRT) carries total debt of $1.56B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
NexPoint Residential Trust, Inc. (NXRT) has total shareholders' equity (book value) of $295.5M ($11.83 book value per share). Book value represents the net worth of the company belonging to common stock holders.
NexPoint Residential Trust, Inc. (NXRT) reported a current ratio of 0.48x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Shrinking equity base leverage
Metrics are mathematically derived from official filings.
Equity Erosion Drives Rising Leverage
Based on reported figures, NXRT's book equity fell from $491.1M in 2024Q2 to $224.1M in 2026Q3 while total debt held near $1.6B, pushing debt-to-equity from 2.93 to 6.95 and signaling a weakening capitalization profile.
The decline in equity appears to reflect accumulated net losses and distributions outpacing retained earnings rather than asset sales, since total assets remained roughly flat near $1.9B. Because the debt base has been essentially stable, the rising leverage ratio is driven mainly by shrinking book equity, which investors should monitor closely as it may constrain flexibility. The reported figures do not isolate the exact drivers of the equity decline, so further investigation of the equity rollforward is warranted.
Property Base Shows Limited Reported Visibility
As reported in the balance sheet data, net PP&E reads $0 for most recent quarters after $13.2M in 2024Q2, leaving the depth of the residential portfolio's asset base difficult to assess from the supplied figures.
The zero reported PP&E figures in most periods are inconsistent with a $1.9B asset base dominated by income-producing property, so this likely reflects how the data was captured rather than an operational reality. Given that the asset value is substantially held in real estate investments, analysis of occupancy, asset age, and geographic diversification cannot be completed from the provided data. Investors should consult the property-level disclosures before drawing conclusions about portfolio quality.
Debt Stable While Coverage Thins
Based on EDBL's reported figures, total debt stayed in a $1.5B to $1.6B band across ten quarters, while NOI moved from $34.2M to negative $9.3M, sharply weakening the ability to service that debt from operating income.
Holding debt roughly flat while operating income deteriorates means the debt-to-NOI burden has worsened materially, which suggests refinancing and interest coverage could become more sensitive to rate and occupancy conditions. The data does not disclose maturity ladders, secured versus unsecured mix, or floating-rate exposure, so the cost and timing risk of this debt cannot be fully evaluated. This gap warrants further investigation before judging refinancing risk.
Cash Buffer Thin Against Distributions
As reported in the financial statements, NXRT's cash balance ended 2026Q3 at $15.8M against quarterly dividends of roughly $11.7M to $14.5M, leaving a narrow liquidity cushion relative to recurring obligations.
Cash of this scale covers only about one quarter of distributions, and the fluctuating cash levels, including a spike to $89.7M in 2024Q2 followed by a fall to $10.8M, suggest liquidity has been episodic rather than structurally secure. Fixed charge coverage, revolver headroom, and development funding requirements are not disclosed in the supplied data, so the adequacy of liquidity cannot be fully confirmed. Investors should monitor whether cash reserves are rebuilt or drawn down in coming periods.
Negative NOI Signals Possible Reporting Distortion
Based on reported quarterly figures, NOI swung from $87.2M in 2025Q4 to negative $9.3M in 2026Q3, a range too wide to reflect operating performance alone and suggesting reporting, classification, or timing effects may be influencing the balance sheet read.
The most non-obvious risk is that the reported NOI series may not reliably represent recurring property economics, which would make any leverage or coverage conclusion drawn from it less certain. If the swings are timing or classification artifacts, the true debt service capacity could differ meaningfully from what the raw figures imply. This possibility warrants further investigation into how NOI and property-level results are being reported before relying on them for credit judgments.