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NexPoint Real Estate Finance, Inc.（NREF）与Spire Global, Inc.（SPIR）财务数据对比。点击上方公司名可切换其他公司
Spire Global, Inc.的季度营收约是NexPoint Real Estate Finance, Inc.的1.4倍（$15.8M vs $11.1M），NexPoint Real Estate Finance, Inc.净利率更高（216.6% vs -176.6%，领先393.3%），Spire Global, Inc.同比增速更快（-26.9% vs -48.8%）
NexPoint Real Estate Finance, Inc.是一家总部位于美国的商业地产金融企业，主要为多户住宅、写字楼、工业及酒店物业提供结构化融资方案，运营并管理抵押贷款及其他地产相关投资组合，为利益相关方提供经风险调整的稳定回报。
Spire Global, Inc.是一家天基云数据与分析服务企业，核心业务依托由大量纳米卫星组成的卫星星座，提供覆盖全球的多领域数据集追踪服务，具体包含船舶航运追踪、航空航行监控以及气象模式观测等相关业务，服务覆盖全球范围。
NREF vs SPIR — 直观对比
营收规模更大
SPIR
是对方的1.4倍
$11.1M
营收增速更快
SPIR
高出21.9%
-48.8%
净利率更高
NREF
高出393.3%
-176.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $11.1M | $15.8M |
| 净利润 | $24.0M | $-28.0M |
| 毛利率 | — | 40.2% |
| 营业利润率 | — | -164.1% |
| 净利率 | 216.6% | -176.6% |
| 营收同比 | -48.8% | -26.9% |
| 净利润同比 | 58.7% | 42.7% |
| 每股收益（稀释后） | $0.47 | $-0.85 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收NREFSPIR
| Q4 25 | $11.1M | $15.8M | ||
| Q3 25 | $12.5M | $12.7M | ||
| Q2 25 | $12.1M | $19.2M | ||
| Q1 25 | $11.5M | $23.9M | ||
| Q4 24 | $21.7M | $21.7M | ||
| Q3 24 | $12.5M | $28.6M | ||
| Q2 24 | $6.7M | $25.4M | ||
| Q1 24 | $-12.8M | $34.8M |
净利润NREFSPIR
| Q4 25 | $24.0M | $-28.0M | ||
| Q3 25 | $50.9M | $-19.7M | ||
| Q2 25 | $22.3M | $119.6M | ||
| Q1 25 | $26.0M | $-20.7M | ||
| Q4 24 | $15.2M | $-48.8M | ||
| Q3 24 | $23.3M | $-12.5M | ||
| Q2 24 | $12.1M | $-16.6M | ||
| Q1 24 | $-14.6M | $-25.5M |
毛利率NREFSPIR
| Q4 25 | — | 40.2% | ||
| Q3 25 | — | 36.6% | ||
| Q2 25 | — | 48.9% | ||
| Q1 25 | — | 36.8% | ||
| Q4 24 | — | 32.4% | ||
| Q3 24 | — | 44.5% | ||
| Q2 24 | — | 43.0% | ||
| Q1 24 | — | 26.5% |
营业利润率NREFSPIR
| Q4 25 | — | -164.1% | ||
| Q3 25 | — | -166.1% | ||
| Q2 25 | — | -122.7% | ||
| Q1 25 | — | -106.5% | ||
| Q4 24 | — | -144.1% | ||
| Q3 24 | — | -48.0% | ||
| Q2 24 | — | -48.6% | ||
| Q1 24 | — | -34.4% |
净利率NREFSPIR
| Q4 25 | 216.6% | -176.6% | ||
| Q3 25 | 407.0% | -155.3% | ||
| Q2 25 | 184.5% | 623.4% | ||
| Q1 25 | 225.6% | -86.5% | ||
| Q4 24 | 69.9% | -225.2% | ||
| Q3 24 | 186.4% | -43.7% | ||
| Q2 24 | 179.7% | -65.2% | ||
| Q1 24 | 114.3% | -73.3% |
每股收益（稀释后）NREFSPIR
| Q4 25 | $0.47 | $-0.85 | ||
| Q3 25 | $1.14 | $-0.61 | ||
| Q2 25 | $0.54 | $3.72 | ||
| Q1 25 | $0.70 | $-0.77 | ||
| Q4 24 | $0.71 | $-1.93 | ||
| Q3 24 | $0.74 | $-0.50 | ||
| Q2 24 | $0.40 | $-0.68 | ||
| Q1 24 | $-0.83 | $-1.17 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $31.1M | $81.8M |
| 总债务越低越好 | $771.2M | — |
| 股东权益账面价值 | $388.0M | $112.9M |
| 总资产 | $5.3B | $211.0M |
| 负债/权益比越低杠杆越低 | 1.99× | — |
8季度趋势，按日历期对齐
现金及短期投资NREFSPIR
| Q4 25 | $31.1M | $81.8M | ||
| Q3 25 | $17.9M | $96.8M | ||
| Q2 25 | $9.1M | $117.6M | ||
| Q1 25 | $19.2M | $35.9M | ||
| Q4 24 | $3.9M | $19.2M | ||
| Q3 24 | $34.7M | $36.6M | ||
| Q2 24 | $4.3M | $45.8M | ||
| Q1 24 | $13.5M | $63.7M |
总债务NREFSPIR
| Q4 25 | $771.2M | — | ||
| Q3 25 | $720.9M | — | ||
| Q2 25 | $815.6M | — | ||
| Q1 25 | $831.5M | $103.7M | ||
| Q4 24 | $799.3M | $103.1M | ||
| Q3 24 | $815.5M | $4.9M | ||
| Q2 24 | $861.0M | $4.9M | ||
| Q1 24 | $843.3M | $123.1M |
股东权益NREFSPIR
| Q4 25 | $388.0M | $112.9M | ||
| Q3 25 | $375.4M | $133.1M | ||
| Q2 25 | $348.2M | $149.2M | ||
| Q1 25 | $343.7M | $3.7M | ||
| Q4 24 | $336.5M | $-11.7M | ||
| Q3 24 | $335.8M | $30.8M | ||
| Q2 24 | $327.5M | $40.3M | ||
| Q1 24 | $327.1M | $52.5M |
总资产NREFSPIR
| Q4 25 | $5.3B | $211.0M | ||
| Q3 25 | $5.3B | $224.3M | ||
| Q2 25 | $5.4B | $239.5M | ||
| Q1 25 | $5.4B | $208.8M | ||
| Q4 24 | $5.4B | $193.6M | ||
| Q3 24 | $5.7B | $224.2M | ||
| Q2 24 | $6.6B | $230.8M | ||
| Q1 24 | $7.1B | $252.3M |
负债/权益比NREFSPIR
| Q4 25 | 1.99× | — | ||
| Q3 25 | 1.92× | — | ||
| Q2 25 | 2.34× | — | ||
| Q1 25 | 2.42× | 27.92× | ||
| Q4 24 | 2.38× | — | ||
| Q3 24 | 2.43× | 0.16× | ||
| Q2 24 | 2.63× | 0.12× | ||
| Q1 24 | 2.58× | 2.35× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-4.5M | $-4.3M |
| 自由现金流经营现金流 - 资本支出 | — | $-16.2M |
| 自由现金流率自由现金流/营收 | — | -102.1% |
| 资本支出强度资本支出/营收 | — | 75.1% |
| 现金转化率经营现金流/净利润 | -0.19× | — |
| 过去12个月自由现金流最近4个季度 | — | $-92.6M |
8季度趋势，按日历期对齐
经营现金流NREFSPIR
| Q4 25 | $-4.5M | $-4.3M | ||
| Q3 25 | $8.1M | $-12.0M | ||
| Q2 25 | $3.3M | $-35.1M | ||
| Q1 25 | $16.0M | $-8.4M | ||
| Q4 24 | $4.4M | $-19.2M | ||
| Q3 24 | $14.7M | $14.0M | ||
| Q2 24 | $-7.5M | $-4.4M | ||
| Q1 24 | $17.7M | $-8.8M |
自由现金流NREFSPIR
| Q4 25 | — | $-16.2M | ||
| Q3 25 | — | $-20.4M | ||
| Q2 25 | — | $-38.7M | ||
| Q1 25 | — | $-17.3M | ||
| Q4 24 | — | $-24.3M | ||
| Q3 24 | — | $5.1M | ||
| Q2 24 | — | $-9.9M | ||
| Q1 24 | — | $-15.9M |
自由现金流率NREFSPIR
| Q4 25 | — | -102.1% | ||
| Q3 25 | — | -161.3% | ||
| Q2 25 | — | -201.7% | ||
| Q1 25 | — | -72.6% | ||
| Q4 24 | — | -112.2% | ||
| Q3 24 | — | 17.8% | ||
| Q2 24 | — | -39.0% | ||
| Q1 24 | — | -45.7% |
资本支出强度NREFSPIR
| Q4 25 | — | 75.1% | ||
| Q3 25 | — | 66.2% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 37.3% | ||
| Q4 24 | — | 23.5% | ||
| Q3 24 | — | 31.2% | ||
| Q2 24 | — | 21.8% | ||
| Q1 24 | — | 20.3% |
现金转化率NREFSPIR
| Q4 25 | -0.19× | — | ||
| Q3 25 | 0.16× | — | ||
| Q2 25 | 0.15× | -0.29× | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.29× | — | ||
| Q3 24 | 0.63× | — | ||
| Q2 24 | -0.62× | — | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
