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Side-by-side financial comparison of NexPoint Real Estate Finance, Inc. (NREF) and Xilio Therapeutics, Inc. (XLO). Click either name above to swap in a different company.

Xilio Therapeutics, Inc. is the larger business by last-quarter revenue ($13.7M vs $11.1M, roughly 1.2× NexPoint Real Estate Finance, Inc.). NexPoint Real Estate Finance, Inc. runs the higher net margin — 216.6% vs 75.7%, a 140.9% gap on every dollar of revenue.

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.

Xilio Therapeutics is a clinical-stage biotechnology company dedicated to developing novel tumor-selective immunotherapies for cancer treatment. Its product pipeline features candidates engineered to trigger anti-tumor immune responses specifically inside tumor microenvironments, reducing systemic toxicities, and it primarily targets oncology patient populations in North America and other global markets.

NREF vs XLO — Head-to-Head

Bigger by revenue
XLO
XLO
1.2× larger
XLO
$13.7M
$11.1M
NREF
Higher net margin
NREF
NREF
140.9% more per $
NREF
216.6%
75.7%
XLO

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
NREF
NREF
XLO
XLO
Revenue
$11.1M
$13.7M
Net Profit
$24.0M
$10.4M
Gross Margin
Operating Margin
-86.5%
Net Margin
216.6%
75.7%
Revenue YoY
-48.8%
Net Profit YoY
58.7%
179.1%
EPS (diluted)
$0.47
$-3.74

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
XLO
XLO
Q4 25
$11.1M
$13.7M
Q3 25
$12.5M
$19.1M
Q2 25
$12.1M
$8.1M
Q1 25
$11.5M
$2.9M
Q4 24
$21.7M
Q3 24
$12.5M
Q2 24
$6.7M
Q1 24
$-12.8M
Net Profit
NREF
NREF
XLO
XLO
Q4 25
$24.0M
$10.4M
Q3 25
$50.9M
$-16.3M
Q2 25
$22.3M
$-15.8M
Q1 25
$26.0M
$-13.3M
Q4 24
$15.2M
Q3 24
$23.3M
Q2 24
$12.1M
Q1 24
$-14.6M
Operating Margin
NREF
NREF
XLO
XLO
Q4 25
-86.5%
Q3 25
-10.1%
Q2 25
-177.7%
Q1 25
-472.7%
Q4 24
Q3 24
Q2 24
Q1 24
Net Margin
NREF
NREF
XLO
XLO
Q4 25
216.6%
75.7%
Q3 25
407.0%
-85.4%
Q2 25
184.5%
-196.0%
Q1 25
225.6%
-452.7%
Q4 24
69.9%
Q3 24
186.4%
Q2 24
179.7%
Q1 24
114.3%
EPS (diluted)
NREF
NREF
XLO
XLO
Q4 25
$0.47
$-3.74
Q3 25
$1.14
$-0.11
Q2 25
$0.54
$-0.16
Q1 25
$0.70
$-0.18
Q4 24
$0.71
Q3 24
$0.74
Q2 24
$0.40
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
XLO
XLO
Cash + ST InvestmentsLiquidity on hand
$31.1M
$137.5M
Total DebtLower is stronger
$771.2M
Stockholders' EquityBook value
$388.0M
$35.3M
Total Assets
$5.3B
$154.7M
Debt / EquityLower = less leverage
1.99×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
NREF
NREF
XLO
XLO
Q4 25
$31.1M
$137.5M
Q3 25
$17.9M
$103.8M
Q2 25
$9.1M
$121.6M
Q1 25
$19.2M
$89.1M
Q4 24
$3.9M
Q3 24
$34.7M
Q2 24
$4.3M
Q1 24
$13.5M
Total Debt
NREF
NREF
XLO
XLO
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
XLO
XLO
Q4 25
$388.0M
$35.3M
Q3 25
$375.4M
$-8.1M
Q2 25
$348.2M
$7.1M
Q1 25
$343.7M
$10.7M
Q4 24
$336.5M
Q3 24
$335.8M
Q2 24
$327.5M
Q1 24
$327.1M
Total Assets
NREF
NREF
XLO
XLO
Q4 25
$5.3B
$154.7M
Q3 25
$5.3B
$133.7M
Q2 25
$5.4B
$133.8M
Q1 25
$5.4B
$103.7M
Q4 24
$5.4B
Q3 24
$5.7B
Q2 24
$6.6B
Q1 24
$7.1B
Debt / Equity
NREF
NREF
XLO
XLO
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
XLO
XLO
Operating Cash FlowLast quarter
$-4.5M
$-2.0M
Free Cash FlowOCF − Capex
$-2.1M
FCF MarginFCF / Revenue
-15.3%
Capex IntensityCapex / Revenue
0.7%
Cash ConversionOCF / Net Profit
-0.19×
-0.19×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
NREF
NREF
XLO
XLO
Q4 25
$-4.5M
$-2.0M
Q3 25
$8.1M
$-17.5M
Q2 25
$3.3M
$-14.5M
Q1 25
$16.0M
$29.0M
Q4 24
$4.4M
Q3 24
$14.7M
Q2 24
$-7.5M
Q1 24
$17.7M
Free Cash Flow
NREF
NREF
XLO
XLO
Q4 25
$-2.1M
Q3 25
Q2 25
$-14.9M
Q1 25
$29.0M
Q4 24
Q3 24
Q2 24
Q1 24
FCF Margin
NREF
NREF
XLO
XLO
Q4 25
-15.3%
Q3 25
Q2 25
-184.0%
Q1 25
988.3%
Q4 24
Q3 24
Q2 24
Q1 24
Capex Intensity
NREF
NREF
XLO
XLO
Q4 25
0.7%
Q3 25
0.0%
Q2 25
5.0%
Q1 25
0.8%
Q4 24
Q3 24
Q2 24
Q1 24
Cash Conversion
NREF
NREF
XLO
XLO
Q4 25
-0.19×
-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.

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