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Side-by-side financial comparison of NexPoint Real Estate Finance, Inc. (NREF) and Relay Therapeutics, Inc. (RLAY). 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 $7.0M, roughly 1.6× Relay Therapeutics, Inc.).
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.
Relay Therapeutics is a clinical-stage biotechnology company focused on developing precision oncology therapies. It leverages advanced computational modeling of protein dynamics, paired with cutting-edge experimental biology, to design targeted medicines for previously intractable cancer types, serving global oncology care markets and patient populations.
NREF vs RLAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $11.1M | $7.0M |
| Net Profit | $24.0M | — |
| Gross Margin | — | — |
| Operating Margin | — | — |
| Net Margin | 216.6% | — |
| Revenue YoY | -48.8% | — |
| Net Profit YoY | 58.7% | — |
| 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 | $7.0M | ||
| Q3 25 | $12.5M | $0 | ||
| Q2 25 | $12.1M | — | ||
| Q1 25 | $11.5M | $7.7M | ||
| Q4 24 | $21.7M | $0 | ||
| Q3 24 | $12.5M | $0 | ||
| Q2 24 | $6.7M | $0 | ||
| Q1 24 | $-12.8M | $10.0M |
| Q4 25 | $24.0M | — | ||
| Q3 25 | $50.9M | $-74.1M | ||
| Q2 25 | $22.3M | — | ||
| Q1 25 | $26.0M | $-77.1M | ||
| Q4 24 | $15.2M | — | ||
| Q3 24 | $23.3M | $-88.1M | ||
| Q2 24 | $12.1M | $-92.2M | ||
| Q1 24 | $-14.6M | $-81.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -1105.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -903.0% |
| Q4 25 | 216.6% | — | ||
| Q3 25 | 407.0% | — | ||
| Q2 25 | 184.5% | — | ||
| Q1 25 | 225.6% | -1003.6% | ||
| Q4 24 | 69.9% | — | ||
| Q3 24 | 186.4% | — | ||
| Q2 24 | 179.7% | — | ||
| Q1 24 | 114.3% | -813.3% |
| Q4 25 | $0.47 | — | ||
| Q3 25 | $1.14 | $-0.43 | ||
| Q2 25 | $0.54 | — | ||
| Q1 25 | $0.70 | $-0.46 | ||
| Q4 24 | $0.71 | — | ||
| Q3 24 | $0.74 | $-0.63 | ||
| Q2 24 | $0.40 | $-0.69 | ||
| Q1 24 | $-0.83 | $-0.62 |
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 | $84.0M |
| Total DebtLower is stronger | $771.2M | — |
| Stockholders' EquityBook value | $388.0M | $567.1M |
| Total Assets | $5.3B | $621.3M |
| Debt / EquityLower = less leverage | 1.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.1M | $84.0M | ||
| Q3 25 | $17.9M | $91.6M | ||
| Q2 25 | $9.1M | — | ||
| Q1 25 | $19.2M | $93.5M | ||
| Q4 24 | $3.9M | $124.3M | ||
| Q3 24 | $34.7M | $152.4M | ||
| Q2 24 | $4.3M | $134.1M | ||
| Q1 24 | $13.5M | $152.9M |
| 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 | — |
| Q4 25 | $388.0M | $567.1M | ||
| Q3 25 | $375.4M | $607.7M | ||
| Q2 25 | $348.2M | — | ||
| Q1 25 | $343.7M | $721.1M | ||
| Q4 24 | $336.5M | $777.8M | ||
| Q3 24 | $335.8M | $838.9M | ||
| Q2 24 | $327.5M | $681.7M | ||
| Q1 24 | $327.1M | $745.8M |
| Q4 25 | $5.3B | $621.3M | ||
| Q3 25 | $5.3B | $670.0M | ||
| Q2 25 | $5.4B | — | ||
| Q1 25 | $5.4B | $799.4M | ||
| Q4 24 | $5.4B | $871.3M | ||
| Q3 24 | $5.7B | $930.1M | ||
| Q2 24 | $6.6B | $772.5M | ||
| Q1 24 | $7.1B | $841.4M |
| 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-4.5M | $-235.5M |
| Free Cash FlowOCF − Capex | — | $-235.9M |
| FCF MarginFCF / Revenue | — | -3370.0% |
| Capex IntensityCapex / Revenue | — | 5.9% |
| Cash ConversionOCF / Net Profit | -0.19× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-622.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-4.5M | $-235.5M | ||
| Q3 25 | $8.1M | $-62.1M | ||
| Q2 25 | $3.3M | — | ||
| Q1 25 | $16.0M | $-73.2M | ||
| Q4 24 | $4.4M | $-249.1M | ||
| Q3 24 | $14.7M | $-75.1M | ||
| Q2 24 | $-7.5M | $-65.8M | ||
| Q1 24 | $17.7M | $-50.3M |
| Q4 25 | — | $-235.9M | ||
| Q3 25 | — | $-62.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-73.6M | ||
| Q4 24 | — | $-251.1M | ||
| Q3 24 | — | $-75.3M | ||
| Q2 24 | — | $-65.8M | ||
| Q1 24 | — | $-52.1M |
| Q4 25 | — | -3370.0% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -958.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -520.7% |
| Q4 25 | — | 5.9% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 17.8% |
| 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.
