NexPoint Residential Trust (NXRT) FY2025 results: revenue $251 million, down 3.2% on the year
NexPoint Residential Trust, Inc. (NXRT) reported revenue of $251 million for fiscal 2025, the year ended 31 December 2025, down 3.2% on the year before. Net income was -$32 million, and diluted earnings per share $-1.26. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2026.
Revenue
$251 million
-3.2% on the year
FY2018FY2025
Operating margin
11.1%
32.2% a year earlier
FY2018FY2025
Net income
-$32 million
FY2018FY2025
Diluted EPS
-$1.26
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 14 new.
Full-year result turned to net loss: Net loss attributable to common stockholders was $32.0 million, or $1.26 per diluted share, versus net income of $1.1 million in 2024. Depreciation and amortization was $95.8 million.
Phoenix rental income fell, occupancy rose: Phoenix Same Store rental income declined 4.7% for 2025 to $36.1 million, while occupancy rose 70 bps to 94.5%.
Q4 new leases priced below prior rents: Q4 new leases totaled 1,192 at a 6.4% rent change and a lease trade-out of -$100 per unit. Renewals totaled 1,828 at 1.9% and $27.
Total NOI declined to $151.7 million: Total NOI was $151.7 million for 2025 on 36 properties, compared with $157.0 million for 2024 on 35 properties.
Upgrades delivered rent premium: In 2025 NXRT completed 1,767 full and partial upgrades and washer/dryer installations, with a $60 average monthly rent premium and a 21.8% ROI.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
83.6
73.6
96.6
+13.6%
Capital expenditure
42.6
37.3
71.4
+14.2%
Free cash flow
41.0
36.3
25.2
+13.0%
Free cash flow margin
16.3%
14.0%
9.1%
Cash from investing
-116
131
51.9
Cash from financing
23.4
-196
-155
Depreciation and amortisation
95.8
97.8
95.2
-2.1%
Share-based compensation
9.9
10.5
9.3
-6.3%
Buybacks
7.7
14.6
n/a
-47.5%
Dividends paid
53.5
49.3
44.8
+8.6%
Dividend per share
$2.06
$1.90
$1.72
+8.4%
Diluted shares, weighted
25m
26m
26m
-3.3%
Shares outstanding at period end
25m
25m
26m
-0.2%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
295
410
495
-28.0%
Redeemable equity
4.9
5.8
5.2
-14.8%
Debt
1,593
0.0
1,575
Other liabilities
n/a
1,491
32.5
Total liabilities and equity
1,886
1,907
2,108
-1.1%
Cash and equivalents
13.7
23.1
12.4
-40.8%
Other assets
1,873
1,884
2,095
-0.6%
Total assets
1,886
1,907
2,108
-1.1%
10-K for the year ended 31 December 2025, filed 26 February 2026: the filing.