NexPoint Real Estate Finance, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data NexPoint Real Estate Finance, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
General and administrative	3.38	6.37	7.24	9.2	12.8	12.7
Operating expenses	9.25	13.9	26.2	23.4	36.6	33.7
Interest expense	21.3	29.8	40.3	51.6
Other non-operating income	25.8	71.3	2.66	25.3	44.5	110
Net income to minority interests			-2.5
Net income	11.1	39.6	3.23	10.4	17.7	75.7
EPS, basic	2.13	6.00	0.22	0.60	1.02	4.28
EPS, diluted	1.74	3.93	0.22	0.60	1.02	2.85
Shares, basic (weighted)	5.21	6.6	14.7	17.2	17.4	17.7
Shares, diluted (weighted)	18.6	20.4	14.7	17.2	17.4	42
Dividend per share	1.42	1.90	2.00	2.74	2.00	2.00

Balance sheet

	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	30.2	26.5	20	13.8	3.88	31.1
Total assets	6,176	8,514	8,154	7,018	5,416	5,321
Total liabilities	5,772	8,007	7,609	6,573	4,844	4,489
Total debt	1,038	1,277	1,349	1,272	799	771
Paid-in capital	138	222	392	396	388	404
Retained earnings	3.49	28.4	4.44	-35.8	-54.9	-16.5
Treasury stock	-4.78	-4.2	-4.2	-4.2	0
Shareholders' equity	128
Total equity	128	245	449	347	336	388
Total liabilities and equity	6,176	8,514	8,154	7,018	5,416	5,321
Shares outstanding	5.02	9.16	17.1	17.2	17.5	18.6

Cash flow statement

	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	34.2	83.5	14.2	18.7	36	123
Depreciation and amortization	0	0	2.9	2.47	5.61	2.94
Stock-based compensation	0.55	2.02	3.29	4.41	6.07	5.99
Cash from operations	32.9	49.3	65.8	31.6	29.3	22.9
Purchases of investments	-40.2	-39.1
Sales and maturities of investments	0	3.92
Cash from investing	-68.3	518	951	741	957	322
Stock issued	0	32.4	156	0	0
Share buybacks	-4.79	0	0
Dividends paid	-7.38	-14.2	-29.7	-48	-34.8	-35.3
Cash from financing	68.8	-567	-1,029	-777	-995	-317
Net change in cash	33.5	-0.24	-12.9	-3.7	-9.6	27.3
Interest paid	23.2	27.5	35.4	51.3	42.6	39

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $15.77 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Return on assets (ROA)	1.2%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	327.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	186.0%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	46.8%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	179.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	134.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	10.4%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-21.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-29.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-7.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	7.1%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-1.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-13.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-2.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	141.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	42.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	17.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	83.9%	Total liabilities / total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.16	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Operating cash flow per share	$0.13	Cash from operations / diluted weighted shares.
Cash per share	$0.34	(Cash + short-term investments) / shares outstanding.
Payout ratio	63.3%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$297.2M	Share price x shares outstanding.
Enterprise value	$290.9M	Market cap + total debt - cash - short-term investments.
P/E	4.77x	Market cap / net income. Only when net income is positive.
P/OCF	43.0x	Market cap / cash from operations, when positive.
Earnings yield	21.0%	Net income / market cap (the inverse of P/E).
Dividend yield	13.3%	Dividends paid over the period / market cap.
Shareholder yield	13.3%	(Dividends paid + share buybacks) / market cap.
PEG	0.04x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

Was NexPoint Real Estate Finance, Inc. profitable in fiscal 2025?

Yes. Net income was $75.7M, a net margin of -.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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