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Side-by-side financial comparison of NexPoint Real Estate Finance, Inc. (NREF) and NextPlat Corp (NXPL). Click either name above to swap in a different company.
NextPlat Corp is the larger business by last-quarter revenue ($12.8M vs $11.1M, roughly 1.2× NexPoint Real Estate Finance, Inc.). NexPoint Real Estate Finance, Inc. runs the higher net margin — 216.6% vs -40.2%, a 256.8% gap on every dollar of revenue. On growth, NextPlat Corp posted the faster year-over-year revenue change (-21.1% vs -48.8%).
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.
NREF vs NXPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $11.1M | $12.8M |
| Net Profit | $24.0M | $-5.1M |
| Gross Margin | — | 14.3% |
| Operating Margin | — | -28.9% |
| Net Margin | 216.6% | -40.2% |
| Revenue YoY | -48.8% | -21.1% |
| Net Profit YoY | 58.7% | -70.6% |
| EPS (diluted) | $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 | $12.8M | ||
| Q3 25 | $12.5M | $13.8M | ||
| Q2 25 | $12.1M | $13.2M | ||
| Q1 25 | $11.5M | $14.5M | ||
| Q4 24 | $21.7M | $16.2M | ||
| Q3 24 | $12.5M | $15.4M | ||
| Q2 24 | $6.7M | $17.0M | ||
| Q1 24 | $-12.8M | $17.5M |
| Q4 25 | $24.0M | $-5.1M | ||
| Q3 25 | $50.9M | $-2.2M | ||
| Q2 25 | $22.3M | $-1.8M | ||
| Q1 25 | $26.0M | $-1.3M | ||
| Q4 24 | $15.2M | $-3.0M | ||
| Q3 24 | $23.3M | $-4.2M | ||
| Q2 24 | $12.1M | $-5.3M | ||
| Q1 24 | $-14.6M | $-1.5M |
| Q4 25 | — | 14.3% | ||
| Q3 25 | — | 19.9% | ||
| Q2 25 | — | 21.8% | ||
| Q1 25 | — | 23.8% | ||
| Q4 24 | — | 16.8% | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 34.5% | ||
| Q1 24 | — | 27.8% |
| Q4 25 | — | -28.9% | ||
| Q3 25 | — | -14.5% | ||
| Q2 25 | — | -13.8% | ||
| Q1 25 | — | -10.2% | ||
| Q4 24 | — | -14.1% | ||
| Q3 24 | — | -52.1% | ||
| Q2 24 | — | -64.1% | ||
| Q1 24 | — | -10.5% |
| Q4 25 | 216.6% | -40.2% | ||
| Q3 25 | 407.0% | -15.9% | ||
| Q2 25 | 184.5% | -13.5% | ||
| Q1 25 | 225.6% | -9.2% | ||
| Q4 24 | 69.9% | -18.6% | ||
| Q3 24 | 186.4% | -27.4% | ||
| Q2 24 | 179.7% | -31.3% | ||
| Q1 24 | 114.3% | -8.5% |
| Q4 25 | $0.47 | — | ||
| Q3 25 | $1.14 | — | ||
| Q2 25 | $0.54 | — | ||
| Q1 25 | $0.70 | $-0.05 | ||
| Q4 24 | $0.71 | — | ||
| Q3 24 | $0.74 | $-0.22 | ||
| Q2 24 | $0.40 | — | ||
| Q1 24 | $-0.83 | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $31.1M | $13.7M |
| Total DebtLower is stronger | $771.2M | $1.3M |
| Stockholders' EquityBook value | $388.0M | $17.3M |
| Total Assets | $5.3B | $27.5M |
| Debt / EquityLower = less leverage | 1.99× | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.1M | $13.7M | ||
| Q3 25 | $17.9M | $13.9M | ||
| Q2 25 | $9.1M | $16.6M | ||
| Q1 25 | $19.2M | $17.7M | ||
| Q4 24 | $3.9M | $20.0M | ||
| Q3 24 | $34.7M | $20.4M | ||
| Q2 24 | $4.3M | $24.9M | ||
| Q1 24 | $13.5M | $23.5M |
| Q4 25 | $771.2M | $1.3M | ||
| Q3 25 | $720.9M | $1.2M | ||
| Q2 25 | $815.6M | $1.2M | ||
| Q1 25 | $831.5M | $1.3M | ||
| Q4 24 | $799.3M | $1.4M | ||
| Q3 24 | $815.5M | $1.5M | ||
| Q2 24 | $861.0M | $1.3M | ||
| Q1 24 | $843.3M | $1.4M |
| Q4 25 | $388.0M | $17.3M | ||
| Q3 25 | $375.4M | $21.4M | ||
| Q2 25 | $348.2M | $23.5M | ||
| Q1 25 | $343.7M | $25.3M | ||
| Q4 24 | $336.5M | $27.3M | ||
| Q3 24 | $335.8M | $22.5M | ||
| Q2 24 | $327.5M | $26.5M | ||
| Q1 24 | $327.1M | $31.2M |
| Q4 25 | $5.3B | $27.5M | ||
| Q3 25 | $5.3B | $30.0M | ||
| Q2 25 | $5.4B | $31.0M | ||
| Q1 25 | $5.4B | $35.2M | ||
| Q4 24 | $5.4B | $37.1M | ||
| Q3 24 | $5.7B | $41.1M | ||
| Q2 24 | $6.6B | $51.5M | ||
| Q1 24 | $7.1B | $65.1M |
| Q4 25 | 1.99× | 0.07× | ||
| Q3 25 | 1.92× | 0.05× | ||
| Q2 25 | 2.34× | 0.05× | ||
| Q1 25 | 2.42× | 0.05× | ||
| Q4 24 | 2.38× | 0.05× | ||
| Q3 24 | 2.43× | 0.07× | ||
| Q2 24 | 2.63× | 0.05× | ||
| Q1 24 | 2.58× | 0.04× |
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 | $-4.5M | $-302.0K |
| Free Cash FlowOCF − Capex | — | $-339.0K |
| FCF MarginFCF / Revenue | — | -2.6% |
| Capex IntensityCapex / Revenue | — | 0.3% |
| Cash ConversionOCF / Net Profit | -0.19× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-4.5M | $-302.0K | ||
| Q3 25 | $8.1M | $-2.7M | ||
| Q2 25 | $3.3M | $-1.0M | ||
| Q1 25 | $16.0M | $-2.1M | ||
| Q4 24 | $4.4M | $-476.0K | ||
| Q3 24 | $14.7M | $-4.6M | ||
| Q2 24 | $-7.5M | $2.3M | ||
| Q1 24 | $17.7M | $-2.7M |
| Q4 25 | — | $-339.0K | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-1.1M | ||
| Q1 25 | — | $-2.1M | ||
| Q4 24 | — | $-508.0K | ||
| Q3 24 | — | $-4.7M | ||
| Q2 24 | — | $2.2M | ||
| Q1 24 | — | $-2.7M |
| Q4 25 | — | -2.6% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -8.0% | ||
| Q1 25 | — | -14.3% | ||
| Q4 24 | — | -3.1% | ||
| Q3 24 | — | -30.6% | ||
| Q2 24 | — | 13.2% | ||
| Q1 24 | — | -15.7% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.4% |
| 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.
Revenue Breakdown by Segment
NREF
Segment breakdown not available.
NXPL
| Healthcare Operations | $9.0M | 70% |
| Ecommerce Revenue | $3.8M | 30% |
