AH Realty Trust, Inc. (AHRT) Balance Sheet
AHRT balance sheet, 2025
December 31, 2025 · U.S. dollars$2.60B assets = $1.77B liabilities + $829.2M equity
Both columns are drawn to the same scale: what AHRT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AHRT financial health
Descriptive bands, not a rating. Fiscal 2025.
AHRT balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $982.5M2016 | $2.60B2025 | +11.4%/yr | |
| Total liabilities | $633.5M2016 | $1.77B2025 | +12.1%/yr | |
| Shareholders’ equity | $148.1M2016 | $627.8M2025 | +17.4%/yr | |
| Cash & short-term investments | $25.2M2016 | $52.4M2025 | +8.5%/yr | |
| Total debt | $553.3M2016 | $1.80B2025 | +14.0%/yr | |
| Net cash (debt) | −$528.1M2016 | −$1.75B2025 | −$1.2B | |
| Working capital | $94.0M2016 | −$176.8M2025 | −$270.8M | |
| Book value per share | $4.482016 | $7.832025 | +6.4%/yr | |
| Current ratio | 3.082016 | 0.582025 | −2.50 | |
| Debt / equity | 3.732016 | 2.862025 | −0.87 | |
| Shares outstanding | 33.1M2016 | 80.2M2025 | +10.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AHRT assets
AHRT liabilities and equity
AHRT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AHRT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $52.4M | $33.5M | $30.2M | $51.9M | $40.4M | $50.4M | $43.6M | $24.1M | $22.9M | $25.2M |
| Cash & equivalents | $52.4M | $33.5M | $30.2M | $51.9M | $40.4M | $50.4M | $43.6M | $24.1M | $22.9M | $25.2M |
| Receivables | $194.8M | $270.1M | $266.2M | $246.4M | $174.1M | $202.4M | $219.2M | $173.9M | $122.7M | $114.0M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $247.2M | $218.9M | $169.9M | $227.1M | $196.4M | $252.9M | $262.8M | $197.9M | $145.6M | $139.2M |
| Property, plant & equipment (net) | $110.1M | $111.8M | $113.7M | $69.2M | $70.5M | $56.3M | $57.2M | $0 | $0 | $0 |
| Goodwill & intangible assets | $77.6M | $89.7M | $109.1M | $103.9M | $62.0M | $61.5M | $140.3M | $32.8M | $34.1M | $4.8M |
| Long-term investments | $47.9M | $158.2M | $142.0M | $72.0M | $12.7M | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $2.11B | $1.93B | $2.03B | $1.77B | $1.60B | $1.55B | $1.34B | $1.03B | $863.4M | $838.5M |
| Total assets | $2.60B | $2.51B | $2.56B | $2.24B | $1.94B | $1.92B | $1.80B | $1.27B | $1.04B | $982.5M |
| Liabilities | ||||||||||
| Accounts payable | $40.2M | $143.3M | $159.3M | $120.3M | $60.8M | — | — | — | — | — |
| Short-term debt | $424.0M | $136.7M | $73.7M | $12.1M | $34.1M | $108.7M | $13.1M | $14.9M | $77.7M | $45.2M |
| Total current liabilities | $424.0M | $136.7M | $73.7M | $12.1M | $34.1M | $108.7M | $13.1M | $14.9M | $77.7M | $45.2M |
| Long-term debt | $1.53B | $1.30B | $1.40B | $1.07B | $917.6M | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $124.7M | $124.0M | $123.4M | $78.2M | $77.8M | — | — | — | — | — |
| Other long-term liabilities | $0 | $190.9M | $287.0M | $258.0M | $206.6M | $1.05B | $1.14B | $794.6M | $545.2M | $588.3M |
| Total liabilities | $1.77B | $1.62B | $1.76B | $1.34B | $1.16B | $1.16B | $1.15B | $809.5M | $622.8M | $633.5M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $805,000 | $797,000 | $668,000 | $677,000 | $630,000 | $591,000 | $563,000 | $500,000 | $449,000 | $374,000 |
| Retained earnings (deficit) | −$269.5M | −$218.6M | −$184.7M | −$126.9M | −$141.4M | −$112.4M | −$106.7M | −$82.7M | −$61.2M | −$49.3M |
| Minority interest | $201.4M | $219.0M | $232.6M | $256.6M | — | — | — | — | — | — |
| Total shareholders' equity | $627.8M | $670.6M | $572.6M | $647.5M | $555.4M | $523.2M | $408.6M | $273.9M | $226.7M | $148.1M |
| Key figures | ||||||||||
| Total debt | $1.80B | $1.57B | $1.68B | $1.26B | $1.11B | $1.11B | $1.11B | $719.6M | $544.9M | $553.3M |
| Net cash (debt) | −$1.75B | −$1.54B | −$1.65B | −$1.21B | −$1.07B | −$1.06B | −$1.06B | −$695.5M | −$522.0M | −$528.1M |
| Working capital | −$176.8M | $82.2M | $96.1M | $215.0M | $162.3M | $144.2M | $249.6M | $183.0M | $67.9M | $94.0M |
| Tangible book value | $550.2M | $580.9M | $463.5M | $543.6M | $493.3M | $461.7M | $268.3M | $241.1M | $192.6M | $143.4M |
| Book value per share | $7.83 | $8.41 | $6.48 | $7.33 | $6.64 | $9.13 | $7.69 | $5.76 | $5.34 | $4.48 |
| Shares outstanding | 80.2M | 79.7M | 88.3M | 88.3M | 83.6M | 57.3M | 53.1M | 47.5M | 42.4M | 33.1M |
| Current ratio | 0.58 | 1.60 | 2.30 | 18.80 | 5.76 | 2.33 | 20.01 | 13.26 | 1.87 | 3.08 |
| Quick ratio | 0.58 | 2.22 | 4.02 | 24.69 | 6.29 | 2.33 | 20.01 | 13.26 | 1.87 | 3.08 |
| Debt / equity | 2.86 | 2.35 | 2.93 | 1.94 | 2.00 | 2.13 | 2.71 | 2.63 | 2.40 | 3.73 |
| Equity / assets | 24.2% | 26.7% | 22.3% | 28.9% | 28.7% | 27.3% | 22.6% | 21.6% | 21.7% | 15.1% |
| 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 | $22.2M | $30.6M | $52.4M | $49.8M | $54.6M | $48.6M | $33.5M | $45.7M | $21.7M | $43.9M | $30.2M | $35.0M |
| Cash & equivalents | $22.2M | $30.6M | $52.4M | $49.8M | $54.6M | $48.6M | $33.5M | $45.7M | $21.7M | $43.9M | $30.2M | $35.0M |
| Receivables | $71.7M | $63.2M | $194.8M | $247.8M | $243.9M | $266.0M | $270.1M | $275.7M | $168.3M | $152.4M | $266.2M | $127.5M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $93.9M | $93.7M | $247.2M | $260.4M | $248.4M | $239.9M | $257.6M | $214.9M | $190.0M | $196.3M | $169.9M | $162.5M |
| Property, plant & equipment (net) | $99.4M | $99.8M | $110.1M | $110.5M | $111.0M | $111.4M | $111.8M | $112.3M | $112.7M | $113.2M | $113.7M | $115.7M |
| Goodwill & intangible assets | $70.0M | $73.1M | $77.6M | $80.2M | $83.5M | $86.4M | $89.7M | $97.7M | $101.4M | $105.2M | $120.6M | $127.0M |
| Long-term investments | $58.4M | $48.2M | $47.9M | $47.9M | $47.3M | $158.3M | $158.2M | $155.3M | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.61B | $2.16B | $2.11B | $2.08B | $2.09B | $1.87B | $1.90B | $1.98B | $2.17B | $2.19B | $2.16B | $2.13B |
| Total assets | $1.93B | $2.48B | $2.60B | $2.58B | $2.58B | $2.47B | $2.51B | $2.56B | $2.57B | $2.60B | $2.56B | $2.53B |
| Liabilities | ||||||||||||
| Accounts payable | $30.3M | $29.5M | $40.2M | $81.0M | $93.5M | $101.3M | $143.3M | $160.3M | — | — | $159.3M | — |
| Short-term debt | $124.0M | $388.6M | $424.0M | $31.8M | $33.6M | $134.8M | $140.3M | $2.6M | $29.2M | $68.0M | $73.7M | $2.5M |
| Total current liabilities | $124.0M | $388.6M | $424.0M | $31.8M | $33.6M | $134.8M | $140.3M | $2.6M | $29.2M | $68.0M | $73.7M | $2.5M |
| Long-term debt | $1.03B | $1.49B | $1.53B | $1.49B | $1.45B | $1.32B | $1.30B | $1.33B | $0 | $0 | $0 | $0 |
| Lease obligations | $116.4M | $116.2M | $124.7M | $124.5M | $124.4M | $124.2M | $124.0M | $123.9M | — | — | — | — |
| Other long-term liabilities | $56.2M | $0 | $0 | $216.0M | $235.4M | $141.1M | $187.4M | $349.0M | $1.75B | $1.73B | $1.68B | $1.66B |
| Total liabilities | $1.21B | $1.72B | $1.77B | $1.73B | $1.72B | $1.60B | $1.62B | $1.68B | $1.78B | $1.80B | $1.76B | $1.67B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $749,000 | $768,000 | $805,000 | $804,000 | $804,000 | $805,000 | $797,000 | $797,000 | $674,000 | $670,000 | $668,000 | $679,000 |
| Retained earnings (deficit) | −$335.1M | −$306.1M | −$269.5M | −$257.7M | −$243.7M | −$235.5M | −$218.6M | −$222.8M | −$200.7M | −$187.3M | −$184.7M | −$151.5M |
| Minority interest | $185.7M | $190.7M | $201.4M | $204.8M | $208.8M | — | — | — | — | — | — | — |
| Total shareholders' equity | $529.3M | $569.5M | $627.8M | $638.8M | $652.0M | $657.4M | $670.6M | $663.9M | $562.7M | $571.4M | $572.6M | $621.0M |
| Key figures | ||||||||||||
| Total debt | $1.07B | $1.36B | $1.80B | $1.73B | $1.70B | $1.57B | $1.57B | $1.58B | $1.67B | $1.68B | $1.68B | $1.57B |
| Net cash (debt) | −$1.05B | −$1.33B | −$1.75B | −$1.68B | −$1.64B | −$1.52B | −$1.54B | −$1.53B | −$1.64B | −$1.63B | −$1.65B | −$1.54B |
| Working capital | −$30.1M | −$294.9M | −$176.8M | $228.6M | $214.7M | $105.1M | $117.4M | $212.3M | $160.8M | $128.3M | $96.1M | $160.0M |
| Tangible book value | $459.4M | $496.4M | $550.2M | $558.7M | $568.5M | $571.0M | $580.9M | $566.2M | $461.3M | $466.2M | $452.0M | $493.9M |
| Book value per share | $5.40 | $5.58 | $6.15 | $7.97 | $8.13 | $8.22 | $6.62 | $6.55 | $6.32 | $6.44 | $6.48 | $6.94 |
| Shares outstanding | 98.0M | 102.0M | 102.1M | 80.2M | 80.2M | 80.0M | 101.4M | 101.4M | 89.1M | 88.7M | 88.3M | 89.4M |
| Current ratio | 0.76 | 0.24 | 0.58 | 8.18 | 7.39 | 1.78 | 1.84 | 81.69 | 6.50 | 2.89 | 2.30 | 65.64 |
| Quick ratio | 0.76 | 0.24 | 0.58 | 9.35 | 8.88 | 2.33 | 2.16 | 122.17 | 6.50 | 2.89 | 4.02 | 65.64 |
| Debt / equity | 2.03 | 2.39 | 2.86 | 2.72 | 2.60 | 2.39 | 2.34 | 2.37 | 2.96 | 2.93 | 2.93 | 2.53 |
| Equity / assets | 27.5% | 23.0% | 24.2% | 24.8% | 25.3% | 26.7% | 26.7% | 25.9% | 21.9% | 22.0% | 22.3% | 24.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
AHRT financial position
At the end of fiscal 2025 (December 31, 2025), AH Realty had total assets of $2.6 billion (up 3.3% from a year earlier), total liabilities of $1.8 billion and shareholders' equity of $627.8 million. It held $52.4 million in cash and short-term investments against $1.8 billion of debt, net debt of $1.7 billion. Its current ratio was 0.58. In the latest quarter (ended June 30, 2026) total assets were $1.9 billion and equity $529.3 million.
Related: AHRT income statement, AHRT cash flow statement, AHRT key metrics. See the AHRT stock overview for the latest quote and news.
AHRT balance sheet FAQ
What are AH Realty's total assets?
AH Realty reported total assets of $2.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.5 billion a year earlier.
How much debt does AH Realty have?
AH Realty had $1.8 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 2.86.
How much cash does AH Realty have?
AH Realty held $52.4 million in cash and short-term investments at the end of fiscal 2025; with $1.8 billion of debt that is net debt of $1.7 billion.
What is AH Realty's book value?
AH Realty's shareholders' equity (book value) was $627.8 million at the end of fiscal 2025, or $7.83 per share.
What is AH Realty's current ratio?
AH Realty had current assets of $247.2 million and current liabilities of $424.0 million, a current ratio of 0.58 (current liabilities exceed current assets).
How much goodwill does AH Realty have?
AH Realty carried $77.6 million of goodwill and intangible assets, 3.0% of total assets, at the end of fiscal 2025.