ACRES Commercial Realty Corp. (ACR) Balance Sheet
ACR balance sheet, 2025
December 31, 2025 · U.S. dollars$2.16B assets = $1.61B liabilities + $550.6M equity
Both columns are drawn to the same scale: what ACR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ACR financial health
Debt / equity3.78
High leverage · $3.78 of debt for each $1 of equity
Equity / assets19.5%
Thin equity · of assets funded by shareholders
Cash / debt5.4%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles0.3%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
ACR balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.05B2016 | $2.16B2025 | +0.6%/yr | |
| Total liabilities | $1.35B2016 | $1.61B2025 | +2.0%/yr | |
| Shareholders’ equity | $704.3M2016 | $420.8M2025 | −5.6%/yr | |
| Cash & short-term investments | $241.0M2016 | $86.0M2025 | −10.8%/yr | |
| Total debt | $1.19B2016 | $1.59B2025 | +3.3%/yr | |
| Net cash (debt) | −$950.5M2016 | −$1.50B2025 | −$554.5M | |
| Working capital | $262.2M2016 | $49.1M2024 | −$213.1M | |
| Book value per share | $69.182016 | $56.772025 | −2.2%/yr | |
| Debt / equity | 1.692016 | 3.782025 | +2.09 | |
| Shares outstanding | 10.2M2016 | 7.4M2025 | −3.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ACR assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
ACR liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
ACR debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ACR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $86.0M | $56.7M | $83.4M | $67.8M | $35.5M | $31.4M | $80.0M | $501.8M | $393.2M | $241.0M |
| Cash & equivalents | $86.0M | $56.7M | $83.4M | $66.2M | $35.5M | $29.4M | $80.0M | $82.8M | $181.5M | $116.0M |
| Short-term investments | — | — | — | $1.5M | $1.5M | $2.1M | $520.7M | $419.0M | $211.7M | $125.0M |
| Receivables | $27.3M | $16.9M | $12.6M | $13.3M | $24.7M | $14.9M | $1.81B | $43.8M | $6.9M | $6.4M |
| Inventory | $0 | $0 | $62.6M | $53.8M | $17.8M | $1 | −$29,999 | −$985,000 | −$780,000 | −$5.1M |
| Other current assets | $0 | $1.6M | $0 | $0 | $0 | $0 | $42.5M | $985,000 | $780,000 | $24.4M |
| Total current assets | $113.2M | $75.3M | $105.6M | $79.7M | $60.2M | $46.3M | $1.93B | $545.6M | $400.1M | $266.7M |
| Property, plant & equipment (net) | $19.5M | $20.1M | $20.2M | $20.6M | $6.4M | $5.8M | $89,000 | $174,000 | $151,000 | $527,000 |
| Goodwill & intangible assets | $6.2M | $7.0M | $7.9M | $8.9M | $3.9M | $3.3M | $0 | $0 | $0 | $213,000 |
| Long-term investments | $29.2M | $21.9M | $1.5M | $55.3M | $19.4M | $5.8M | $21.1M | $34.6M | $89.1M | $113.9M |
| Other non-current assets | $1.99B | $1.76B | $2.06B | $2.21B | $2.19B | $1.59B | $501.2M | $1.55B | $1.42B | $1.67B |
| Total assets | $2.16B | $1.88B | $2.20B | $2.38B | $2.28B | $1.65B | $2.45B | $2.13B | $1.91B | $2.05B |
| Liabilities | ||||||||||
| Accounts payable | $6.8M | $7.0M | $8.5M | $17.3M | $13.0M | $8.1M | $2.3M | $4.2M | $4.4M | $4.5M |
| Short-term debt | $0 | $131.0M | $94.7M | $331.0M | $71.2M | $41.6M | $400.6M | $850.4M | $497,846 | $78.5M |
| Deferred revenue | — | — | −$86.2M | −$313.7M | −$58.2M | — | −$614.1M | — | $4.7M | −$74.0M |
| Total current liabilities | — | $26.2M | $12.4M | $17.3M | $13.0M | $49.7M | $421.4M | $862.2M | $5.2M | $4.5M |
| Long-term debt | $840.0M | $1.23B | $1.68B | $1.87B | $1.81B | $1.30B | $4.6M | $1.0M | $76,000 | $97,000 |
| Lease obligations | $45.9M | $45.3M | $44.3M | $43.7M | $3.5M | $3.1M | — | — | — | — |
| Other long-term liabilities | $771.8M | $191.2M | $61.3M | $0 | $3.5M | $3.1M | $1.47B | $702.7M | $1.16B | $1.19B |
| Total liabilities | $1.61B | $1.43B | $1.75B | $1.94B | $1.84B | $1.32B | $1.90B | $1.58B | $1.24B | $1.35B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $7,000 | $8,000 | $8,000 | $9,000 | $9,000 | $10,000 | $11,000 | $32,000 | $31,000 | $31,000 |
| Retained earnings (deficit) | −$720.0M | −$720.3M | −$729.4M | −$732.4M | −$723.6M | −$741.6M | −$530.5M | −$525.8M | −$517.8M | −$517.2M |
| Accumulated other comprehensive income | −$1.6M | −$3.2M | −$4.8M | −$6.4M | −$8.1M | −$10.0M | $1.8M | −$3.1M | $1.3M | $3.1M |
| Minority interest | $129.8M | $10.5M | $10.4M | $5.8M | — | — | — | — | — | −$1.2M |
| Total shareholders' equity | $420.8M | $439.1M | $435.8M | $441.3M | $448.2M | $334.4M | $556.4M | $553.8M | $671.5M | $704.3M |
| Key figures | ||||||||||
| Total debt | $1.59B | $1.41B | $1.72B | $2.20B | $1.89B | $1.35B | $1.88B | $1.55B | $1.16B | $1.19B |
| Net cash (debt) | −$1.50B | −$1.35B | −$1.64B | −$2.13B | −$1.85B | −$1.31B | −$1.80B | −$1.05B | −$770.3M | −$950.5M |
| Working capital | — | $49.1M | $93.2M | $62.4M | $47.2M | −$3.4M | $1.51B | −$316.6M | $394.9M | $262.2M |
| Tangible book value | $414.6M | $432.1M | $427.9M | $432.4M | $444.3M | $331.1M | $556.4M | $553.8M | $671.5M | $704.1M |
| Book value per share | $56.77 | $55.41 | $50.88 | $50.08 | $45.91 | $31.07 | $52.70 | $52.94 | $64.82 | $69.18 |
| Shares outstanding | 7.4M | 7.9M | 8.6M | 8.8M | 9.8M | 10.8M | 10.6M | 10.5M | 10.4M | 10.2M |
| Current ratio | — | 2.88 | 8.50 | 4.61 | 4.64 | 0.93 | 4.59 | 0.63 | 77.64 | 59.53 |
| Quick ratio | — | 2.81 | 7.73 | 4.68 | 4.64 | 0.93 | 4.48 | 0.63 | 77.64 | 55.22 |
| Debt / equity | 3.78 | 3.20 | 3.95 | 4.98 | 4.21 | 4.03 | 3.37 | 2.81 | 1.73 | 1.69 |
| Equity / assets | 19.5% | 23.3% | 19.8% | 18.6% | 19.6% | 20.2% | 22.7% | 26.0% | 35.1% | 34.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $41.9M | $49.8M | $83.8M | $40.9M | $42.7M | $66.0M | $56.7M | $70.1M | $89.6M | $84.6M | $83.4M | $64.4M |
| Cash & equivalents | $41.9M | $49.8M | $83.8M | $40.9M | $42.7M | $66.0M | $56.7M | $70.1M | $89.6M | $84.6M | $83.4M | $64.4M |
| Receivables | $33.6M | $30.0M | $27.3M | $22.2M | $19.1M | $16.0M | $16.9M | $41.9M | $17.3M | $13.2M | $1.84B | $13.0M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $63.0M | $62.6M | $62.2M |
| Other current assets | $0 | $0 | $4.1M | $5.3M | $4.9M | $4.8M | $1.6M | $0 | $2.0M | $0 | $22.9M | $0 |
| Total current assets | $75.6M | $79.9M | $115.1M | $68.4M | $66.7M | $86.8M | $75.3M | $86.4M | $108.9M | $101.8M | $2.01B | $76.9M |
| Property, plant & equipment (net) | $19.3M | $19.4M | $19.9M | $19.9M | $20.0M | $20.1M | $20.1M | $19.9M | $20.0M | $20.1M | $20.2M | $20.3M |
| Goodwill & intangible assets | $5.8M | $6.0M | $12.4M | $6.4M | $6.7M | $6.9M | $7.0M | $7.2M | $7.4M | $7.6M | $7.9M | $8.1M |
| Long-term investments | $30.3M | $29.7M | $29.2M | $28.7M | $25.3M | $23.6M | $21.9M | $22.0M | $21.6M | $21.7M | $1.5M | $1.5M |
| Other non-current assets | $2.28B | $2.35B | $1.99B | $1.57B | $1.70B | $1.64B | $1.76B | $1.87B | $1.94B | $1.99B | $158.2M | $2.15B |
| Total assets | $2.41B | $2.49B | $2.16B | $1.69B | $1.82B | $1.78B | $1.88B | $2.01B | $2.10B | $2.14B | $2.20B | $2.26B |
| Liabilities | ||||||||||||
| Accounts payable | $11.5M | $5.1M | $6.8M | $3.8M | $6.6M | $2.2M | $7.0M | $4.9M | $7.9M | $6.0M | $13.3M | $22.9M |
| Short-term debt | — | — | $0 | $0 | $127.4M | $106.0M | $131.0M | $73.1M | $73.2M | $73.3M | $94.7M | $253.2M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$73.2M | −$73.3M | −$86.2M | −$230.3M |
| Total current liabilities | — | — | $10.3M | $7.9M | $10.7M | $6.9M | $26.2M | $9.9M | $24.2M | $26.7M | $29.4M | $22.9M |
| Long-term debt | $1.78B | $1.86B | $840.0M | $1.07B | $1.31B | $1.17B | $1.23B | $1.42B | $1.58B | $1.63B | $1.68B | $1.74B |
| Lease obligations | $46.3M | $46.1M | $45.9M | $45.7M | $45.6M | $45.4M | $45.3M | $44.7M | $44.6M | $44.4M | $44.3M | $44.1M |
| Other long-term liabilities | $73.1M | $66.5M | $761.5M | $172.0M | $63.0M | $167.5M | $191.2M | $137.4M | $0 | $0 | $44.3M | $44.1M |
| Total liabilities | $1.86B | $1.93B | $1.61B | $1.25B | $1.38B | $1.34B | $1.43B | $1.56B | $1.65B | $1.70B | $1.75B | $1.81B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 |
| Retained earnings (deficit) | −$733.6M | −$721.1M | −$720.0M | −$717.1M | −$726.9M | −$726.1M | −$720.3M | −$724.4M | −$727.2M | −$728.8M | −$729.4M | −$731.1M |
| Accumulated other comprehensive income | −$965,000 | −$1.3M | −$1.6M | −$2.0M | −$2.4M | −$2.8M | −$3.2M | −$3.6M | −$4.0M | −$4.4M | −$4.8M | −$5.2M |
| Minority interest | $136.9M | $134.3M | $129.8M | $1.6M | $10.1M | — | — | — | — | — | — | — |
| Total shareholders' equity | $413.3M | $420.6M | $420.8M | $432.9M | $425.3M | $430.1M | $439.1M | $436.3M | $434.0M | $432.8M | $435.8M | $437.7M |
| Key figures | ||||||||||||
| Total debt | $1.83B | $1.91B | $1.59B | $1.23B | $1.35B | $1.32B | $1.41B | $1.53B | $1.63B | $1.67B | $1.72B | $1.99B |
| Net cash (debt) | −$1.79B | −$1.86B | −$1.51B | −$1.19B | −$1.31B | −$1.25B | −$1.35B | −$1.46B | −$1.54B | −$1.59B | −$1.64B | −$1.93B |
| Working capital | — | — | $104.8M | $60.5M | $56.1M | $80.0M | $49.1M | $76.5M | $84.7M | $75.1M | $1.98B | $54.0M |
| Tangible book value | $407.5M | $414.6M | $408.4M | $426.5M | $418.6M | $423.2M | $432.1M | $429.2M | $426.6M | $425.1M | $427.9M | $429.6M |
| Book value per share | $61.75 | $64.13 | $61.84 | $59.19 | $58.65 | $58.42 | $55.41 | $54.91 | $55.34 | $53.87 | $51.65 | $50.94 |
| Shares outstanding | 6.7M | 6.6M | 6.8M | 7.3M | 7.3M | 7.4M | 7.9M | 7.9M | 7.8M | 8.0M | 8.4M | 8.6M |
| Current ratio | — | — | 11.20 | 8.63 | 6.26 | 12.67 | 2.88 | 8.74 | 4.50 | 3.81 | 68.28 | 3.36 |
| Quick ratio | — | — | 10.80 | 7.97 | 5.80 | 11.98 | 2.81 | 11.33 | 4.41 | 3.66 | 65.37 | 3.39 |
| Debt / equity | 4.43 | 4.54 | 3.78 | 2.85 | 3.19 | 3.06 | 3.20 | 3.52 | 3.75 | 3.86 | 3.95 | 4.55 |
| Equity / assets | 17.2% | 16.9% | 19.5% | 25.6% | 23.4% | 24.2% | 23.3% | 21.7% | 20.7% | 20.2% | 19.8% | 19.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 10, 2026); data from EODHD.
ACR financial position
At the end of fiscal 2025 (December 31, 2025), ACRES Commercial Realty had total assets of $2.2 billion (up 14.9% from a year earlier), total liabilities of $1.6 billion and shareholders' equity of $420.8 million. It held $86.0 million in cash and short-term investments against $1.6 billion of debt, net debt of $1.5 billion. In the latest quarter (ended June 30, 2026) total assets were $2.4 billion and equity $413.3 million.
Related: ACR income statement, ACR cash flow statement, ACR key metrics. See the ACR stock overview for the latest quote and news.
ACR balance sheet FAQ
What are ACRES Commercial Realty's total assets?
ACRES Commercial Realty reported total assets of $2.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.9 billion a year earlier.
How much debt does ACRES Commercial Realty have?
ACRES Commercial Realty had $1.6 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 3.78.
How much cash does ACRES Commercial Realty have?
ACRES Commercial Realty held $86.0 million in cash and short-term investments at the end of fiscal 2025; with $1.6 billion of debt that is net debt of $1.5 billion.
What is ACRES Commercial Realty's book value?
ACRES Commercial Realty's shareholders' equity (book value) was $420.8 million at the end of fiscal 2025, or $56.77 per share.
How much goodwill does ACRES Commercial Realty have?
ACRES Commercial Realty carried $6.2 million of goodwill and intangible assets, 0.3% of total assets, at the end of fiscal 2025.