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Side-by-side financial comparison of NexPoint Real Estate Finance, Inc. (NREF) and Protalix BioTherapeutics, Inc. (PLX). 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 $9.1M, roughly 1.2× Protalix BioTherapeutics, Inc.). NexPoint Real Estate Finance, Inc. runs the higher net margin — 216.6% vs -60.3%, a 277.0% gap on every dollar of revenue. On growth, NexPoint Real Estate Finance, Inc. posted the faster year-over-year revenue change (-48.8% vs -49.9%).

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.

Protalix BioTherapeutics is an Israeli pharmaceutical company that manufactures a plant-based enzyme, taliglucerase alfa, which has received U.S. Food and Drug Administration approval for the treatment of Gaucher disease.

NREF vs PLX — Head-to-Head

Bigger by revenue
NREF
NREF
1.2× larger
NREF
$11.1M
$9.1M
PLX
Growing faster (revenue YoY)
NREF
NREF
+1.1% gap
NREF
-48.8%
-49.9%
PLX
Higher net margin
NREF
NREF
277.0% more per $
NREF
216.6%
-60.3%
PLX

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
NREF
NREF
PLX
PLX
Revenue
$11.1M
$9.1M
Net Profit
$24.0M
$-5.5M
Gross Margin
49.4%
Operating Margin
-51.1%
Net Margin
216.6%
-60.3%
Revenue YoY
-48.8%
-49.9%
Net Profit YoY
58.7%
-184.8%
EPS (diluted)
$0.47
$-0.06

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
NREF
NREF
PLX
PLX
Q4 25
$11.1M
$9.1M
Q3 25
$12.5M
$17.9M
Q2 25
$12.1M
$15.7M
Q1 25
$11.5M
$10.1M
Q4 24
$21.7M
$18.2M
Q3 24
$12.5M
$18.0M
Q2 24
$6.7M
$13.5M
Q1 24
$-12.8M
Net Profit
NREF
NREF
PLX
PLX
Q4 25
$24.0M
$-5.5M
Q3 25
$50.9M
$2.4M
Q2 25
$22.3M
$164.0K
Q1 25
$26.0M
$-3.6M
Q4 24
$15.2M
$6.5M
Q3 24
$23.3M
$3.2M
Q2 24
$12.1M
$-2.2M
Q1 24
$-14.6M
Gross Margin
NREF
NREF
PLX
PLX
Q4 25
49.4%
Q3 25
53.4%
Q2 25
62.5%
Q1 25
19.1%
Q4 24
78.7%
Q3 24
53.4%
Q2 24
29.8%
Q1 24
Operating Margin
NREF
NREF
PLX
PLX
Q4 25
-51.1%
Q3 25
11.9%
Q2 25
7.5%
Q1 25
-41.0%
Q4 24
39.6%
Q3 24
22.2%
Q2 24
-18.0%
Q1 24
Net Margin
NREF
NREF
PLX
PLX
Q4 25
216.6%
-60.3%
Q3 25
407.0%
13.2%
Q2 25
184.5%
1.0%
Q1 25
225.6%
-35.8%
Q4 24
69.9%
35.6%
Q3 24
186.4%
18.0%
Q2 24
179.7%
-16.4%
Q1 24
114.3%
EPS (diluted)
NREF
NREF
PLX
PLX
Q4 25
$0.47
$-0.06
Q3 25
$1.14
$0.03
Q2 25
$0.54
$0.00
Q1 25
$0.70
$-0.05
Q4 24
$0.71
$0.10
Q3 24
$0.74
$0.03
Q2 24
$0.40
$-0.03
Q1 24
$-0.83

Balance Sheet & Financial Strength

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

Metric
NREF
NREF
PLX
PLX
Cash + ST InvestmentsLiquidity on hand
$31.1M
$14.7M
Total DebtLower is stronger
$771.2M
Stockholders' EquityBook value
$388.0M
$48.2M
Total Assets
$5.3B
$82.3M
Debt / EquityLower = less leverage
1.99×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
NREF
NREF
PLX
PLX
Q4 25
$31.1M
$14.7M
Q3 25
$17.9M
$13.6M
Q2 25
$9.1M
$17.9M
Q1 25
$19.2M
$19.5M
Q4 24
$3.9M
$19.8M
Q3 24
$34.7M
$27.4M
Q2 24
$4.3M
$23.4M
Q1 24
$13.5M
Total Debt
NREF
NREF
PLX
PLX
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
NREF
NREF
PLX
PLX
Q4 25
$388.0M
$48.2M
Q3 25
$375.4M
$52.9M
Q2 25
$348.2M
$49.9M
Q1 25
$343.7M
$45.2M
Q4 24
$336.5M
$43.2M
Q3 24
$335.8M
$32.4M
Q2 24
$327.5M
$28.6M
Q1 24
$327.1M
Total Assets
NREF
NREF
PLX
PLX
Q4 25
$5.3B
$82.3M
Q3 25
$5.3B
$82.3M
Q2 25
$5.4B
$78.5M
Q1 25
$5.4B
$73.9M
Q4 24
$5.4B
$73.4M
Q3 24
$5.7B
$61.6M
Q2 24
$6.6B
$91.5M
Q1 24
$7.1B
Debt / Equity
NREF
NREF
PLX
PLX
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
NREF
NREF
PLX
PLX
Operating Cash FlowLast quarter
$-4.5M
$2.0M
Free Cash FlowOCF − Capex
$1.6M
FCF MarginFCF / Revenue
17.8%
Capex IntensityCapex / Revenue
4.4%
Cash ConversionOCF / Net Profit
-0.19×
TTM Free Cash FlowTrailing 4 quarters
$-13.6M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
NREF
NREF
PLX
PLX
Q4 25
$-4.5M
$2.0M
Q3 25
$8.1M
$-3.7M
Q2 25
$3.3M
$-5.2M
Q1 25
$16.0M
$-5.1M
Q4 24
$4.4M
$4.0M
Q3 24
$14.7M
$4.1M
Q2 24
$-7.5M
$-3.6M
Q1 24
$17.7M
Free Cash Flow
NREF
NREF
PLX
PLX
Q4 25
$1.6M
Q3 25
$-4.2M
Q2 25
$-5.7M
Q1 25
$-5.4M
Q4 24
$3.6M
Q3 24
$4.0M
Q2 24
$-3.8M
Q1 24
FCF Margin
NREF
NREF
PLX
PLX
Q4 25
17.8%
Q3 25
-23.7%
Q2 25
-36.2%
Q1 25
-53.0%
Q4 24
19.6%
Q3 24
22.4%
Q2 24
-28.1%
Q1 24
Capex Intensity
NREF
NREF
PLX
PLX
Q4 25
4.4%
Q3 25
2.8%
Q2 25
2.8%
Q1 25
3.0%
Q4 24
2.3%
Q3 24
0.5%
Q2 24
1.3%
Q1 24
Cash Conversion
NREF
NREF
PLX
PLX
Q4 25
-0.19×
Q3 25
0.16×
-1.58×
Q2 25
0.15×
-31.91×
Q1 25
0.62×
Q4 24
0.29×
0.61×
Q3 24
0.63×
1.27×
Q2 24
-0.62×
Q1 24

Financial Flow Comparison

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

Revenue Breakdown by Segment

NREF
NREF

Segment breakdown not available.

PLX
PLX

Products$8.7M95%
Other$428.0K5%

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