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Side-by-side financial comparison of MODIV INDUSTRIAL, INC. (MDV) 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 $11.1M, roughly 1.0× MODIV INDUSTRIAL, INC.). NexPoint Real Estate Finance, Inc. runs the higher net margin — 216.6% vs 11.0%, a 205.7% gap on every dollar of revenue. On growth, MODIV INDUSTRIAL, INC. posted the faster year-over-year revenue change (-5.6% vs -48.8%).
MODIV INDUSTRIAL, INC. is a U.S.-based industrial real estate enterprise focused on acquiring, owning and operating high-quality industrial properties mainly located in key logistics and distribution hubs across North America. It serves tenants from sectors including e-commerce fulfillment, manufacturing and third-party logistics, addressing rising demand for modern supply chain infrastructure.
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.
MDV vs NREF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $11.1M | $11.1M |
| Net Profit | $1.2M | $24.0M |
| Gross Margin | — | — |
| Operating Margin | 45.8% | — |
| Net Margin | 11.0% | 216.6% |
| Revenue YoY | -5.6% | -48.8% |
| Net Profit YoY | -22.0% | 58.7% |
| EPS (diluted) | $0.02 | $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 | $11.1M | $11.1M | ||
| Q3 25 | $11.7M | $12.5M | ||
| Q2 25 | $11.8M | $12.1M | ||
| Q1 25 | $11.8M | $11.5M | ||
| Q4 24 | $11.7M | $21.7M | ||
| Q3 24 | $11.7M | $12.5M | ||
| Q2 24 | $11.4M | $6.7M | ||
| Q1 24 | $12.0M | $-12.8M |
| Q4 25 | $1.2M | $24.0M | ||
| Q3 25 | $1.0M | $50.9M | ||
| Q2 25 | $-2.0M | $22.3M | ||
| Q1 25 | $829.0K | $26.0M | ||
| Q4 24 | $1.6M | $15.2M | ||
| Q3 24 | $-587.0K | $23.3M | ||
| Q2 24 | $1.3M | $12.1M | ||
| Q1 24 | $3.7M | $-14.6M |
| Q4 25 | 45.8% | — | ||
| Q3 25 | 41.4% | — | ||
| Q2 25 | 9.8% | — | ||
| Q1 25 | 40.2% | — | ||
| Q4 24 | 45.4% | — | ||
| Q3 24 | 42.0% | — | ||
| Q2 24 | 44.6% | — | ||
| Q1 24 | 55.6% | — |
| Q4 25 | 11.0% | 216.6% | ||
| Q3 25 | 9.0% | 407.0% | ||
| Q2 25 | -17.1% | 184.5% | ||
| Q1 25 | 7.0% | 225.6% | ||
| Q4 24 | 13.3% | 69.9% | ||
| Q3 24 | -5.0% | 186.4% | ||
| Q2 24 | 11.6% | 179.7% | ||
| Q1 24 | 31.1% | 114.3% |
| Q4 25 | $0.02 | $0.47 | ||
| Q3 25 | $0.00 | $1.14 | ||
| Q2 25 | $-0.32 | $0.54 | ||
| Q1 25 | $-0.01 | $0.70 | ||
| Q4 24 | $0.07 | $0.71 | ||
| Q3 24 | $-0.18 | $0.74 | ||
| Q2 24 | $0.03 | $0.40 | ||
| Q1 24 | $0.33 | $-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 | $14.4M | $31.1M |
| Total DebtLower is stronger | $261.5M | $771.2M |
| Stockholders' EquityBook value | $162.7M | $388.0M |
| Total Assets | $476.5M | $5.3B |
| Debt / EquityLower = less leverage | 1.61× | 1.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.4M | $31.1M | ||
| Q3 25 | $8.3M | $17.9M | ||
| Q2 25 | $5.8M | $9.1M | ||
| Q1 25 | $6.2M | $19.2M | ||
| Q4 24 | $11.5M | $3.9M | ||
| Q3 24 | $6.8M | $34.7M | ||
| Q2 24 | $18.9M | $4.3M | ||
| Q1 24 | $18.4M | $13.5M |
| Q4 25 | $261.5M | $771.2M | ||
| Q3 25 | $279.7M | $720.9M | ||
| Q2 25 | $279.7M | $815.6M | ||
| Q1 25 | $279.7M | $831.5M | ||
| Q4 24 | $279.8M | $799.3M | ||
| Q3 24 | $279.7M | $815.5M | ||
| Q2 24 | $279.7M | $861.0M | ||
| Q1 24 | $279.6M | $843.3M |
| Q4 25 | $162.7M | $388.0M | ||
| Q3 25 | $164.8M | $375.4M | ||
| Q2 25 | $165.6M | $348.2M | ||
| Q1 25 | $171.1M | $343.7M | ||
| Q4 24 | $190.1M | $336.5M | ||
| Q3 24 | $186.3M | $335.8M | ||
| Q2 24 | $187.0M | $327.5M | ||
| Q1 24 | $188.0M | $327.1M |
| Q4 25 | $476.5M | $5.3B | ||
| Q3 25 | $499.6M | $5.3B | ||
| Q2 25 | $498.9M | $5.4B | ||
| Q1 25 | $506.8M | $5.4B | ||
| Q4 24 | $507.8M | $5.4B | ||
| Q3 24 | $507.4M | $5.7B | ||
| Q2 24 | $519.5M | $6.6B | ||
| Q1 24 | $522.5M | $7.1B |
| Q4 25 | 1.61× | 1.99× | ||
| Q3 25 | 1.70× | 1.92× | ||
| Q2 25 | 1.69× | 2.34× | ||
| Q1 25 | 1.63× | 2.42× | ||
| Q4 24 | 1.47× | 2.38× | ||
| Q3 24 | 1.50× | 2.43× | ||
| Q2 24 | 1.50× | 2.63× | ||
| Q1 24 | 1.49× | 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 | $15.0M | $-4.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 12.34× | -0.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.0M | $-4.5M | ||
| Q3 25 | $4.1M | $8.1M | ||
| Q2 25 | $3.9M | $3.3M | ||
| Q1 25 | $3.0M | $16.0M | ||
| Q4 24 | $18.2M | $4.4M | ||
| Q3 24 | $5.1M | $14.7M | ||
| Q2 24 | $4.7M | $-7.5M | ||
| Q1 24 | $3.0M | $17.7M |
| Q4 25 | 12.34× | -0.19× | ||
| Q3 25 | 3.95× | 0.16× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | 3.68× | 0.62× | ||
| Q4 24 | 11.72× | 0.29× | ||
| Q3 24 | — | 0.63× | ||
| Q2 24 | 3.55× | -0.62× | ||
| Q1 24 | 0.80× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
