NREF Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2018 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2018 - 2019
Cash & Equivalents	17.92	3.88	13.82	20.05	26.46	30.24	Upgrade
Long-Term Investments	325.17	105.24	114.58	110.59	58.46	44.63	Upgrade
Loans & Lease Receivables	4,760	5,104	6,693	7,713	8,281	6,053	Upgrade
Other Receivables	64.62	42.67	26.35	17.86	8.71	5.82	Upgrade
Restricted Cash	3.64	3.18	2.83	0.3	6.77	3.23	Upgrade
Other Long-Term Assets	106.64	156.82	167.76	292.1	132.09	38.98	Upgrade
Total Assets	5,278	5,416	7,018	8,154	8,514	6,176	Upgrade
Accounts Payable	11.89	9.46	6.43	6.23	3.9	1.78	Upgrade
Accrued Expenses	15.33	10.02	8.21	7.99	3.99	2.31	Upgrade
Short-Term Debt	257.61	309.87	303.51	331.02	286.32	161.47	Upgrade
Current Portion of Long-Term Debt	289.18	63.5	-	-	-	-	Upgrade
Long-Term Debt	3,929	4,452	6,255	7,264	7,713	5,607	Upgrade
Total Liabilities	4,503	4,844	6,573	7,609	8,007	5,772	Upgrade
Common Stock	0.18	0.17	0.17	0.17	0.09	0.05	Upgrade
Additional Paid-In Capital	390.8	387.89	395.74	392.12	222.3	138.04	Upgrade
Retained Earnings	-18.99	-54.95	-35.82	4.44	28.37	3.49	Upgrade
Total Common Equity	371.99	333.12	355.89	392.54	246.56	136.79	Upgrade
Minority Interest	97.4	89.51	89.57	161.03	268.69	275.67	Upgrade
Shareholders' Equity	774.98	571.69	445.51	545.01	506.71	403.91	Upgrade
Total Liabilities & Equity	5,278	5,416	7,018	8,154	8,514	6,176	Upgrade
Total Debt	4,476	4,825	6,558	7,595	7,999	5,768	Upgrade
Net Cash (Debt)	-4,458	-4,821	-6,544	-7,575	-7,973	-5,738	Upgrade
Net Cash Per Share	-130.79	-277.04	-380.51	-515.79	-391.48	-307.70	Upgrade
Filing Date Shares Outstanding	17.72	17.64	17.31	17.47	14.39	5.02	Upgrade
Total Common Shares Outstanding	17.72	17.46	17.23	17.08	9.16	5.02	Upgrade
Working Capital	4,272	4,761	6,418	7,406	8,029	5,927	Upgrade
Book Value Per Share	20.99	19.08	20.65	22.98	26.91	27.24	Upgrade
Tangible Book Value	371.99	333.12	355.89	392.54	246.56	136.79	Upgrade
Tangible Book Value Per Share	20.99	19.08	20.65	22.98	26.91	27.24	Upgrade

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Financial Services template. Financial Sources.

SEC Filings: 10-K · 10-Q