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Side-by-side financial comparison of Angel Oak Mortgage REIT, Inc. (AOMR) and NexPoint Real Estate Finance, Inc. (NREF). Click either name above to swap in a different company.
NexPoint Real Estate Finance, Inc. is the larger business by last-quarter revenue ($11.1M vs $10.9M, roughly 1.0× Angel Oak Mortgage REIT, Inc.). NexPoint Real Estate Finance, Inc. runs the higher net margin — 216.6% vs 103.9%, a 112.7% gap on every dollar of revenue. On growth, Angel Oak Mortgage REIT, Inc. posted the faster year-over-year revenue change (10.4% vs -48.8%).
Angel Oak Mortgage REIT, Inc. is a U.S.-based real estate investment trust focused on investing in residential mortgage assets, including non-agency mortgage-backed securities, residential mortgage loans, and credit-linked real estate instruments. It serves U.S. institutional and retail investors, targeting competitive risk-adjusted returns through regular income and long-term capital growth.
NexPoint Real Estate Finance, Inc. is a US-based commercial real estate finance firm that offers structured financing solutions for multifamily, office, industrial, and hospitality properties. It focuses on originating, managing and servicing a diversified portfolio of mortgage loans and real estate-related investments to deliver stable risk-adjusted returns to stakeholders.
AOMR vs NREF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $10.9M | $11.1M |
| Net Profit | $11.3M | $24.0M |
| Gross Margin | — | — |
| Operating Margin | — | — |
| Net Margin | 103.9% | 216.6% |
| Revenue YoY | 10.4% | -48.8% |
| Net Profit YoY | 175.2% | 58.7% |
| EPS (diluted) | $0.44 | $0.47 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $10.9M | $11.1M | ||
| Q3 25 | $10.2M | $12.5M | ||
| Q2 25 | $9.9M | $12.1M | ||
| Q1 25 | $10.1M | $11.5M | ||
| Q4 24 | $9.9M | $21.7M | ||
| Q3 24 | $9.0M | $12.5M | ||
| Q2 24 | $9.5M | $6.7M | ||
| Q1 24 | $8.6M | $-12.8M |
| Q4 25 | $11.3M | $24.0M | ||
| Q3 25 | $11.4M | $50.9M | ||
| Q2 25 | $767.0K | $22.3M | ||
| Q1 25 | $20.5M | $26.0M | ||
| Q4 24 | $-15.1M | $15.2M | ||
| Q3 24 | $31.2M | $23.3M | ||
| Q2 24 | $-273.0K | $12.1M | ||
| Q1 24 | $12.9M | $-14.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -152.6% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.4% | — | ||
| Q1 24 | — | — |
| Q4 25 | 103.9% | 216.6% | ||
| Q3 25 | 112.1% | 407.0% | ||
| Q2 25 | 7.7% | 184.5% | ||
| Q1 25 | 203.5% | 225.6% | ||
| Q4 24 | -152.6% | 69.9% | ||
| Q3 24 | 345.9% | 186.4% | ||
| Q2 24 | -2.9% | 179.7% | ||
| Q1 24 | 150.1% | 114.3% |
| Q4 25 | $0.44 | $0.47 | ||
| Q3 25 | $0.46 | $1.14 | ||
| Q2 25 | $0.03 | $0.54 | ||
| Q1 25 | $0.87 | $0.70 | ||
| Q4 24 | $-0.62 | $0.71 | ||
| Q3 24 | $1.29 | $0.74 | ||
| Q2 24 | $-0.01 | $0.40 | ||
| Q1 24 | $0.51 | $-0.83 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $41.6M | $31.1M |
| Total DebtLower is stronger | $2.3B | $771.2M |
| Stockholders' EquityBook value | $267.5M | $388.0M |
| Total Assets | $2.7B | $5.3B |
| Debt / EquityLower = less leverage | 8.51× | 1.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $41.6M | $31.1M | ||
| Q3 25 | $51.6M | $17.9M | ||
| Q2 25 | $40.5M | $9.1M | ||
| Q1 25 | $38.7M | $19.2M | ||
| Q4 24 | $40.8M | $3.9M | ||
| Q3 24 | $42.1M | $34.7M | ||
| Q2 24 | $44.0M | $4.3M | ||
| Q1 24 | $39.4M | $13.5M |
| Q4 25 | $2.3B | $771.2M | ||
| Q3 25 | $2.2B | $720.9M | ||
| Q2 25 | — | $815.6M | ||
| Q1 25 | — | $831.5M | ||
| Q4 24 | $1.8B | $799.3M | ||
| Q3 24 | — | $815.5M | ||
| Q2 24 | — | $861.0M | ||
| Q1 24 | — | $843.3M |
| Q4 25 | $267.5M | $388.0M | ||
| Q3 25 | $264.2M | $375.4M | ||
| Q2 25 | $246.4M | $348.2M | ||
| Q1 25 | $251.5M | $343.7M | ||
| Q4 24 | $239.0M | $336.5M | ||
| Q3 24 | $265.1M | $335.8M | ||
| Q2 24 | $255.8M | $327.5M | ||
| Q1 24 | $263.3M | $327.1M |
| Q4 25 | $2.7B | $5.3B | ||
| Q3 25 | $2.6B | $5.3B | ||
| Q2 25 | $2.6B | $5.4B | ||
| Q1 25 | $2.7B | $5.4B | ||
| Q4 24 | $2.3B | $5.4B | ||
| Q3 24 | $2.3B | $5.7B | ||
| Q2 24 | $2.1B | $6.6B | ||
| Q1 24 | $2.3B | $7.1B |
| Q4 25 | 8.51× | 1.99× | ||
| Q3 25 | 8.37× | 1.92× | ||
| Q2 25 | — | 2.34× | ||
| Q1 25 | — | 2.42× | ||
| Q4 24 | 7.62× | 2.38× | ||
| Q3 24 | — | 2.43× | ||
| Q2 24 | — | 2.63× | ||
| Q1 24 | — | 2.58× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-407.0M | $-4.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | -35.96× | -0.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-407.0M | $-4.5M | ||
| Q3 25 | $-173.4M | $8.1M | ||
| Q2 25 | $20.6M | $3.3M | ||
| Q1 25 | $-201.7M | $16.0M | ||
| Q4 24 | $-221.5M | $4.4M | ||
| Q3 24 | $-212.4M | $14.7M | ||
| Q2 24 | $-24.2M | $-7.5M | ||
| Q1 24 | $40.2M | $17.7M |
| Q4 25 | -35.96× | -0.19× | ||
| Q3 25 | -15.19× | 0.16× | ||
| Q2 25 | 26.92× | 0.15× | ||
| Q1 25 | -9.83× | 0.62× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | -6.81× | 0.63× | ||
| Q2 24 | — | -0.62× | ||
| Q1 24 | 3.12× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AOMR
| Nonrelated Party | $6.4M | 59% |
| Other | $4.5M | 41% |
NREF
Segment breakdown not available.
