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Side-by-side financial comparison of Evommune, Inc. (EVMN) 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 $10.0M, roughly 1.1× Evommune, Inc.). NexPoint Real Estate Finance, Inc. runs the higher net margin — 216.6% vs -124.8%, a 341.4% gap on every dollar of revenue.

Evommune, Inc. is a clinical-stage biotechnology company focused on developing innovative therapies for chronic inflammatory and immunological diseases. Its pipeline includes novel candidates targeting unmet medical needs for conditions such as atopic dermatitis, psoriasis, and other immune-mediated disorders, primarily serving global healthcare markets.

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.

EVMN vs NREF — Head-to-Head

Bigger by revenue
NREF
NREF
1.1× larger
NREF
$11.1M
$10.0M
EVMN
Higher net margin
NREF
NREF
341.4% more per $
NREF
216.6%
-124.8%
EVMN

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
EVMN
EVMN
NREF
NREF
Revenue
$10.0M
$11.1M
Net Profit
$-12.5M
$24.0M
Gross Margin
Operating Margin
-133.3%
Net Margin
-124.8%
216.6%
Revenue YoY
-48.8%
Net Profit YoY
58.7%
EPS (diluted)
$-8.07
$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.

Revenue
EVMN
EVMN
NREF
NREF
Q4 25
$11.1M
Q3 25
$10.0M
$12.5M
Q2 25
$12.1M
Q1 25
$11.5M
Q4 24
$21.7M
Q3 24
$12.5M
Q2 24
$6.7M
Q1 24
$-12.8M
Net Profit
EVMN
EVMN
NREF
NREF
Q4 25
$24.0M
Q3 25
$-12.5M
$50.9M
Q2 25
$22.3M
Q1 25
$26.0M
Q4 24
$15.2M
Q3 24
$23.3M
Q2 24
$12.1M
Q1 24
$-14.6M
Operating Margin
EVMN
EVMN
NREF
NREF
Q4 25
Q3 25
-133.3%
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Net Margin
EVMN
EVMN
NREF
NREF
Q4 25
216.6%
Q3 25
-124.8%
407.0%
Q2 25
184.5%
Q1 25
225.6%
Q4 24
69.9%
Q3 24
186.4%
Q2 24
179.7%
Q1 24
114.3%
EPS (diluted)
EVMN
EVMN
NREF
NREF
Q4 25
$0.47
Q3 25
$-8.07
$1.14
Q2 25
$0.54
Q1 25
$0.70
Q4 24
$0.71
Q3 24
$0.74
Q2 24
$0.40
Q1 24
$-0.83

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
EVMN
EVMN
NREF
NREF
Cash + ST InvestmentsLiquidity on hand
$76.1M
$31.1M
Total DebtLower is stronger
$771.2M
Stockholders' EquityBook value
$-183.1M
$388.0M
Total Assets
$84.5M
$5.3B
Debt / EquityLower = less leverage
1.99×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
EVMN
EVMN
NREF
NREF
Q4 25
$31.1M
Q3 25
$76.1M
$17.9M
Q2 25
$9.1M
Q1 25
$19.2M
Q4 24
$3.9M
Q3 24
$34.7M
Q2 24
$4.3M
Q1 24
$13.5M
Total Debt
EVMN
EVMN
NREF
NREF
Q4 25
$771.2M
Q3 25
$720.9M
Q2 25
$815.6M
Q1 25
$831.5M
Q4 24
$799.3M
Q3 24
$815.5M
Q2 24
$861.0M
Q1 24
$843.3M
Stockholders' Equity
EVMN
EVMN
NREF
NREF
Q4 25
$388.0M
Q3 25
$-183.1M
$375.4M
Q2 25
$348.2M
Q1 25
$343.7M
Q4 24
$336.5M
Q3 24
$335.8M
Q2 24
$327.5M
Q1 24
$327.1M
Total Assets
EVMN
EVMN
NREF
NREF
Q4 25
$5.3B
Q3 25
$84.5M
$5.3B
Q2 25
$5.4B
Q1 25
$5.4B
Q4 24
$5.4B
Q3 24
$5.7B
Q2 24
$6.6B
Q1 24
$7.1B
Debt / Equity
EVMN
EVMN
NREF
NREF
Q4 25
1.99×
Q3 25
1.92×
Q2 25
2.34×
Q1 25
2.42×
Q4 24
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
EVMN
EVMN
NREF
NREF
Operating Cash FlowLast quarter
$-59.7M
$-4.5M
Free Cash FlowOCF − Capex
$-59.9M
FCF MarginFCF / Revenue
-598.7%
Capex IntensityCapex / Revenue
1.3%
Cash ConversionOCF / Net Profit
-0.19×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
EVMN
EVMN
NREF
NREF
Q4 25
$-4.5M
Q3 25
$-59.7M
$8.1M
Q2 25
$3.3M
Q1 25
$16.0M
Q4 24
$4.4M
Q3 24
$14.7M
Q2 24
$-7.5M
Q1 24
$17.7M
Free Cash Flow
EVMN
EVMN
NREF
NREF
Q4 25
Q3 25
$-59.9M
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
FCF Margin
EVMN
EVMN
NREF
NREF
Q4 25
Q3 25
-598.7%
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Capex Intensity
EVMN
EVMN
NREF
NREF
Q4 25
Q3 25
1.3%
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Cash Conversion
EVMN
EVMN
NREF
NREF
Q4 25
-0.19×
Q3 25
0.16×
Q2 25
0.15×
Q1 25
0.62×
Q4 24
0.29×
Q3 24
0.63×
Q2 24
-0.62×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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