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Side-by-side financial comparison of NexPoint Real Estate Finance, Inc. (NREF) and TRANSCONTINENTAL REALTY INVESTORS INC (TCI). Click either name above to swap in a different company.
TRANSCONTINENTAL REALTY INVESTORS INC is the larger business by last-quarter revenue ($12.1M vs $11.1M, roughly 1.1× NexPoint Real Estate Finance, Inc.). NexPoint Real Estate Finance, Inc. runs the higher net margin — 216.6% vs 68.8%, a 147.9% gap on every dollar of revenue. On growth, TRANSCONTINENTAL REALTY INVESTORS INC posted the faster year-over-year revenue change (2.3% 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.
Transcontinental Realty Investors Inc. (TCI) is a U.S.-based real estate investment firm that owns, operates and develops a diversified portfolio of residential, commercial and mixed-use properties across core U.S. regional markets. It pursues long-term value growth via strategic property acquisitions, efficient asset management and tailored leasing solutions for individual and business tenants.
NREF vs TCI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $11.1M | $12.1M |
| Net Profit | $24.0M | $8.3M |
| Gross Margin | — | — |
| Operating Margin | — | -28.9% |
| Net Margin | 216.6% | 68.8% |
| Revenue YoY | -48.8% | 2.3% |
| Net Profit YoY | 58.7% | 7577.8% |
| EPS (diluted) | $0.47 | $0.97 |
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 | $12.1M | ||
| Q3 25 | $12.5M | $12.8M | ||
| Q2 25 | $12.1M | $12.2M | ||
| Q1 25 | $11.5M | $12.0M | ||
| Q4 24 | $21.7M | $11.8M | ||
| Q3 24 | $12.5M | $11.6M | ||
| Q2 24 | $6.7M | $11.8M | ||
| Q1 24 | $-12.8M | $11.9M |
| Q4 25 | $24.0M | $8.3M | ||
| Q3 25 | $50.9M | $724.0K | ||
| Q2 25 | $22.3M | $169.0K | ||
| Q1 25 | $26.0M | $4.6M | ||
| Q4 24 | $15.2M | $108.0K | ||
| Q3 24 | $23.3M | $1.7M | ||
| Q2 24 | $12.1M | $1.5M | ||
| Q1 24 | $-14.6M | $2.5M |
| Q4 25 | — | -28.9% | ||
| Q3 25 | — | -10.9% | ||
| Q2 25 | — | -6.8% | ||
| Q1 25 | — | -5.3% | ||
| Q4 24 | — | -14.3% | ||
| Q3 24 | — | -14.4% | ||
| Q2 24 | — | -9.2% | ||
| Q1 24 | — | -11.2% |
| Q4 25 | 216.6% | 68.8% | ||
| Q3 25 | 407.0% | 5.6% | ||
| Q2 25 | 184.5% | 1.4% | ||
| Q1 25 | 225.6% | 38.5% | ||
| Q4 24 | 69.9% | 0.9% | ||
| Q3 24 | 186.4% | 14.7% | ||
| Q2 24 | 179.7% | 12.7% | ||
| Q1 24 | 114.3% | 21.4% |
| Q4 25 | $0.47 | $0.97 | ||
| Q3 25 | $1.14 | $0.08 | ||
| Q2 25 | $0.54 | $0.02 | ||
| Q1 25 | $0.70 | $0.53 | ||
| Q4 24 | $0.71 | $0.01 | ||
| Q3 24 | $0.74 | $0.20 | ||
| Q2 24 | $0.40 | $0.17 | ||
| Q1 24 | $-0.83 | $0.30 |
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 | $89.0M |
| Total DebtLower is stronger | $771.2M | $210.8M |
| Stockholders' EquityBook value | $388.0M | $846.7M |
| Total Assets | $5.3B | $1.1B |
| Debt / EquityLower = less leverage | 1.99× | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.1M | $89.0M | ||
| Q3 25 | $17.9M | $82.7M | ||
| Q2 25 | $9.1M | $73.5M | ||
| Q1 25 | $19.2M | $88.6M | ||
| Q4 24 | $3.9M | $99.7M | ||
| Q3 24 | $34.7M | $131.6M | ||
| Q2 24 | $4.3M | $127.5M | ||
| Q1 24 | $13.5M | $130.8M |
| Q4 25 | $771.2M | $210.8M | ||
| Q3 25 | $720.9M | $223.5M | ||
| Q2 25 | $815.6M | $212.4M | ||
| Q1 25 | $831.5M | $198.2M | ||
| Q4 24 | $799.3M | $181.9M | ||
| Q3 24 | $815.5M | $180.3M | ||
| Q2 24 | $861.0M | $177.4M | ||
| Q1 24 | $843.3M | $178.3M |
| Q4 25 | $388.0M | $846.7M | ||
| Q3 25 | $375.4M | $838.4M | ||
| Q2 25 | $348.2M | $837.7M | ||
| Q1 25 | $343.7M | $837.3M | ||
| Q4 24 | $336.5M | $832.3M | ||
| Q3 24 | $335.8M | $832.2M | ||
| Q2 24 | $327.5M | $830.4M | ||
| Q1 24 | $327.1M | $828.9M |
| Q4 25 | $5.3B | $1.1B | ||
| Q3 25 | $5.3B | $1.1B | ||
| Q2 25 | $5.4B | $1.1B | ||
| Q1 25 | $5.4B | $1.1B | ||
| Q4 24 | $5.4B | $1.1B | ||
| Q3 24 | $5.7B | $1.1B | ||
| Q2 24 | $6.6B | $1.0B | ||
| Q1 24 | $7.1B | $1.0B |
| Q4 25 | 1.99× | 0.25× | ||
| Q3 25 | 1.92× | 0.27× | ||
| Q2 25 | 2.34× | 0.25× | ||
| Q1 25 | 2.42× | 0.24× | ||
| Q4 24 | 2.38× | 0.22× | ||
| Q3 24 | 2.43× | 0.22× | ||
| Q2 24 | 2.63× | 0.21× | ||
| Q1 24 | 2.58× | 0.22× |
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 | $-2.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | -0.19× | -0.35× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-4.5M | $-2.9M | ||
| Q3 25 | $8.1M | $8.2M | ||
| Q2 25 | $3.3M | $-2.9M | ||
| Q1 25 | $16.0M | $-7.4M | ||
| Q4 24 | $4.4M | $1.3M | ||
| Q3 24 | $14.7M | $13.7M | ||
| Q2 24 | $-7.5M | $-511.0K | ||
| Q1 24 | $17.7M | $3.9M |
| Q4 25 | -0.19× | -0.35× | ||
| Q3 25 | 0.16× | 11.28× | ||
| Q2 25 | 0.15× | -17.24× | ||
| Q1 25 | 0.62× | -1.61× | ||
| Q4 24 | 0.29× | 12.13× | ||
| Q3 24 | 0.63× | 8.03× | ||
| Q2 24 | -0.62× | -0.34× | ||
| Q1 24 | — | 1.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
