Amalgamated Financial Corp. (AMAL) Balance Sheet
AMAL balance sheet, 2025
December 31, 2025 · U.S. dollars$8.87B assets = $8.08B liabilities + $794.5M equity
Both columns are drawn to the same scale: what AMAL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AMAL financial health
Descriptive bands, not a rating. Fiscal 2025.
AMAL balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $4.04B2016 | $8.87B2025 | +9.1%/yr | |
| Total liabilities | $3.70B2016 | $8.08B2025 | +9.1%/yr | |
| Shareholders’ equity | $341.0M2016 | $794.5M2025 | +9.9%/yr | |
| Cash & short-term investments | $140.6M2016 | $53.2M2025 | −10.2%/yr | |
| Total debt | $638.9M2016 | $94.1M2025 | −19.2%/yr | |
| Net cash (debt) | −$498.2M2016 | −$40.9M2025 | +$457.3M | |
| Working capital | −$2.07B2016 | $109.0M2025 | +$2.2B | |
| Book value per share | $11.402016 | $26.242025 | +9.7%/yr | |
| Debt / equity | 1.872016 | 0.122025 | −1.76 | |
| Shares outstanding | 29.9M2016 | 30.3M2025 | +0.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AMAL assets
AMAL liabilities and equity
AMAL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AMAL balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $53.2M | $1.69B | $1.57B | $1.88B | $2.44B | $1.58B | $1.35B | $1.26B | $1.06B | $140.6M |
| Cash & equivalents | $4.5M | $60.7M | $90.2M | $63.5M | $330.5M | $38.8M | $122.5M | $80.8M | $116.5M | $140.6M |
| Short-term investments | $48.7M | $1.63B | $1.48B | $1.81B | $2.11B | $1.54B | $1.22B | $1.18B | $943.4M | $133.2M |
| Receivables | $65.1M | $61.2M | $55.5M | $41.4M | $28.8M | $24.0M | $19.1M | $14.4M | $11.2M | $0 |
| Inventory | $0 | $0 | −$4.46B | −$142.8M | −$609.1M | −$240.6M | −$142.4M | $937,000 | $14.2M | $3.1M |
| Other current assets | $0 | $0 | $4.46B | $142.8M | $609.1M | $240.6M | $142.4M | $0 | $0 | $15.7M |
| Total current assets | $118.3M | $1.75B | $1.63B | $1.92B | $2.47B | $1.60B | $1.37B | $1.27B | $1.07B | $159.5M |
| Property, plant & equipment (net) | $14.3M | $20.6M | $28.9M | $38.1M | $44.9M | $49.1M | $65.1M | $21.7M | $22.4M | $25.5M |
| Goodwill & intangible assets | $13.8M | $14.4M | $15.2M | $16.0M | $17.1M | $18.3M | $19.7M | $21.0M | $0 | $0 |
| Long-term investments | $1.80B | $3.22B | $3.19B | $16.2M | $2.96B | $2.05B | $1.52B | $1.18B | $953.0M | $1.21B |
| Other non-current assets | $6.92B | $3.25B | $3.11B | $5.86B | $1.58B | $2.26B | $2.36B | $2.19B | $1.99B | $2.64B |
| Total assets | $8.87B | $8.26B | $7.97B | $7.84B | $7.08B | $5.98B | $5.33B | $4.69B | $4.04B | $4.04B |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | $6.60B | $6.36B | $5.34B | $4.64B | $4.11B | $3.23B | $2.9M |
| Short-term debt | — | $10.8M | $245.7M | $11.3M | $11.0M | $9.8M | $85.7M | $76.3M | $355.8M | $173.7M |
| Total current liabilities | $9.3M | $7.18B | $7.01B | $6.60B | $6.36B | $5.34B | $4.64B | $4.11B | $3.29B | $2.23B |
| Long-term debt | $69.6M | $314.4M | $304.9M | $77.7M | $83.8M | $0 | $75.0M | $16.6M | $402.6M | $430.6M |
| Lease obligations | $12.3M | $19.7M | $30.6M | $40.8M | $48.2M | $53.2M | $62.4M | — | — | — |
| Other long-term liabilities | $8.01B | $54.2M | $70.0M | $661.4M | $73.9M | $104.1M | $118.8M | $124.2M | $0 | $3.27B |
| Total liabilities | $8.08B | $7.55B | $7.39B | $7.33B | $6.51B | $5.44B | $4.83B | $4.25B | $3.70B | $3.70B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $312,000 | $308,000 | $307,000 | $307,000 | $311,000 | $310,000 | $315,000 | $318,000 | $281,000 | $14.0M |
| Retained earnings (deficit) | $567.3M | $480.1M | $388.0M | $330.3M | $260.0M | $217.2M | $181.1M | $142.2M | $99.5M | $93.1M |
| Accumulated other comprehensive income | −$32.1M | −$58.6M | −$86.0M | −$108.7M | $5.4M | $17.2M | $3.2M | −$12.0M | −$6.3M | −$2.9M |
| Minority interest | $0 | $0 | $133,000 | $133,000 | $133,000 | $133,000 | — | — | — | — |
| Total shareholders' equity | $794.5M | $707.7M | $585.2M | $508.8M | $563.7M | $535.7M | $490.4M | $439.2M | $344.1M | $341.0M |
| Key figures | ||||||||||
| Total debt | $94.1M | $334.1M | $335.6M | $698.5M | $132.0M | $53.2M | $137.4M | $92.9M | $758.4M | $638.9M |
| Net cash (debt) | −$40.9M | $1.36B | $1.24B | $1.18B | $2.31B | $1.53B | $1.21B | $1.16B | $301.4M | −$498.2M |
| Working capital | $109.0M | −$5.43B | −$5.38B | −$4.68B | −$3.88B | −$3.74B | −$3.27B | −$2.83B | −$2.22B | −$2.07B |
| Tangible book value | $780.6M | $693.2M | $570.1M | $492.8M | $546.7M | $517.4M | $470.7M | $418.2M | $344.1M | $341.0M |
| Book value per share | $26.24 | $22.87 | $19.01 | $16.31 | $17.89 | $17.15 | $15.23 | $14.34 | $10.83 | $11.40 |
| Shares outstanding | 30.3M | 30.9M | 30.8M | 31.2M | 31.5M | 31.2M | 32.2M | 30.6M | 31.8M | 29.9M |
| Current ratio | 12.77 | 0.24 | 0.23 | 0.29 | 0.39 | 0.30 | 0.29 | 0.31 | 0.33 | 0.07 |
| Quick ratio | 12.77 | 0.24 | 0.23 | 0.29 | 0.39 | 0.30 | 0.29 | 0.31 | 0.33 | 0.06 |
| Debt / equity | 0.12 | 0.47 | 0.57 | 1.37 | 0.23 | 0.10 | 0.28 | 0.21 | 2.20 | 1.87 |
| Equity / assets | 9.0% | 8.6% | 7.3% | 6.5% | 8.0% | 9.0% | 9.2% | 9.4% | 8.5% | 8.4% |
| 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 | $4.2M | $11.6M | $53.2M | $670.2M | $772.4M | $523.0M | $1.69B | $705.8M | $1.75B | $1.68B | $1.57B | $1.63B |
| Cash & equivalents | $4.2M | $11.6M | $4.5M | $115.5M | $171.1M | $65.7M | $60.7M | $149.2M | $58.0M | $155.2M | $90.6M | $140.2M |
| Short-term investments | $750.8M | $993.3M | $48.7M | $554.7M | $601.3M | $457.3M | $1.63B | $556.5M | $1.69B | $1.53B | $1.48B | $1.49B |
| Receivables | $63.8M | $56.2M | $65.1M | $57.1M | $55.5M | $55.1M | $61.2M | $54.3M | $52.6M | $53.4M | $55.5M | $47.7M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$4.61B | −$4.52B | −$4.63B | −$52.6M | $4.15B |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4.61B | $4.52B | $4.63B | $52.6M | $0 |
| Total current assets | $68.0M | $67.9M | $118.3M | $727.3M | $827.9M | $578.1M | $1.75B | $760.0M | $1.80B | $1.74B | $1.63B | $1.68B |
| Property, plant & equipment (net) | $27.8M | $19.5M | $14.3M | $17.7M | $20.2M | $19.8M | $20.6M | $22.5M | $24.6M | $26.9M | $28.9M | $31.3M |
| Goodwill & intangible assets | $13.6M | $13.7M | $13.8M | $14.0M | $14.1M | $14.2M | $14.4M | $14.6M | $14.8M | $15.0M | $15.2M | $15.4M |
| Long-term investments | $1.95B | $2.14B | $1.80B | $1.66B | $1.71B | $2.04B | $3.22B | $2.18B | $3.37B | $3.22B | $3.19B | $3.19B |
| Other non-current assets | $7.36B | $6.93B | $6.92B | $6.27B | $6.05B | $5.64B | $3.25B | $5.44B | $3.04B | $3.14B | $3.11B | $3.00B |
| Total assets | $9.41B | $9.17B | $8.87B | $8.68B | $8.62B | $8.29B | $8.26B | $8.41B | $8.25B | $8.14B | $7.97B | $7.91B |
| Liabilities | ||||||||||||
| Short-term debt | — | — | — | — | $17.0M | $8.0M | $10.8M | $71.1M | $14.5M | $77.2M | $245.7M | $230.0M |
| Total current liabilities | — | — | $9.3M | $7.77B | $7.73B | $7.41B | $7.18B | $7.59B | $7.45B | $7.31B | $7.01B | $6.99B |
| Long-term debt | $69.7M | $69.6M | $69.6M | $75.5M | $75.5M | $69.7M | $314.4M | $68.4M | $77.3M | $139.7M | $304.9M | $304.8M |
| Lease obligations | $9.1M | $11.5M | $12.3M | $14.8M | $15.4M | $17.2M | $19.7M | $22.3M | $24.8M | $27.2M | $30.6M | $33.2M |
| Other long-term liabilities | $8.51B | $8.29B | $8.01B | $62.0M | $58.6M | $67.5M | $54.2M | $52.3M | $78.4M | $74.3M | $70.0M | $67.8M |
| Total liabilities | $8.58B | $8.36B | $8.08B | $7.91B | $7.87B | $7.55B | $7.55B | $7.72B | $7.60B | $7.52B | $7.39B | $7.36B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $315,000 | $315,000 | $312,000 | $310,000 | $310,000 | $309,000 | $308,000 | $308,000 | $307,000 | $307,000 | $307,000 | $307,000 |
| Retained earnings (deficit) | $616.9M | $587.3M | $567.3M | $544.9M | $522.4M | $500.8M | $480.1M | $459.4M | $435.2M | $412.2M | $388.0M | $368.4M |
| Accumulated other comprehensive income | −$40.8M | −$36.6M | −$32.1M | −$35.2M | −$43.0M | −$47.3M | −$58.6M | −$46.7M | −$73.6M | −$78.9M | −$86.0M | −$105.3M |
| Minority interest | — | — | $0 | — | — | — | — | — | — | — | — | — |
| Total shareholders' equity | $835.0M | $807.6M | $794.5M | $775.6M | $754.0M | $736.0M | $707.7M | $698.2M | $646.0M | $616.8M | $585.2M | $546.2M |
| Key figures | ||||||||||||
| Total debt | $78.8M | $81.1M | $94.1M | $90.3M | $90.9M | $86.9M | $334.1M | $90.7M | $102.0M | $167.0M | $335.6M | $338.1M |
| Net cash (debt) | −$74.7M | −$69.5M | −$40.9M | $579.9M | $681.5M | $436.1M | $1.36B | $615.0M | $1.65B | $1.52B | $1.24B | $1.29B |
| Working capital | — | — | $109.0M | −$7.04B | −$6.91B | −$6.83B | −$5.43B | −$6.83B | −$5.64B | −$5.57B | −$5.38B | −$5.31B |
| Tangible book value | $821.4M | $793.8M | $780.6M | $761.5M | $739.8M | $721.8M | $693.2M | $683.6M | $631.2M | $601.8M | $570.1M | $530.8M |
| Book value per share | $27.66 | $26.79 | $26.24 | $25.50 | $24.51 | $23.78 | $22.87 | $22.59 | $20.95 | $20.07 | $19.12 | $17.85 |
| Shares outstanding | 30.2M | 30.1M | 30.3M | 30.4M | 30.8M | 30.9M | 30.9M | 30.9M | 30.8M | 30.7M | 30.6M | 30.6M |
| Current ratio | — | — | 12.77 | 0.09 | 0.11 | 0.08 | 0.24 | 0.10 | 0.24 | 0.24 | 0.23 | 0.24 |
| Quick ratio | — | — | 12.77 | 0.09 | 0.11 | 0.08 | 0.24 | 0.10 | 0.24 | 0.24 | 0.23 | 0.24 |
| Debt / equity | 0.09 | 0.10 | 0.12 | 0.12 | 0.12 | 0.12 | 0.47 | 0.13 | 0.16 | 0.27 | 0.57 | 0.62 |
| Equity / assets | 8.9% | 8.8% | 9.0% | 8.9% | 8.7% | 8.9% | 8.6% | 8.3% | 7.8% | 7.6% | 7.3% | 6.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 5, 2026); data from EODHD.
AMAL financial position
At the end of fiscal 2025 (December 31, 2025), Amalgamated Financial had total assets of $8.9 billion (up 7.4% from a year earlier), total liabilities of $8.1 billion and shareholders' equity of $794.5 million. It held $53.2 million in cash and short-term investments against $94.1 million of debt, net debt of $40.9 million. Its current ratio was 12.77. In the latest quarter (ended June 30, 2026) total assets were $9.4 billion and equity $835.0 million.
Related: AMAL income statement, AMAL cash flow statement, AMAL key metrics. See the AMAL stock overview for the latest quote and news.
AMAL balance sheet FAQ
What are Amalgamated Financial's total assets?
Amalgamated Financial reported total assets of $8.9 billion at the end of fiscal 2025 (December 31, 2025), compared with $8.3 billion a year earlier.
How much debt does Amalgamated Financial have?
Amalgamated Financial had $94.1 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.12.
How much cash does Amalgamated Financial have?
Amalgamated Financial held $53.2 million in cash and short-term investments at the end of fiscal 2025; with $94.1 million of debt that is net debt of $40.9 million.
What is Amalgamated Financial's book value?
Amalgamated Financial's shareholders' equity (book value) was $794.5 million at the end of fiscal 2025, or $26.24 per share.
What is Amalgamated Financial's current ratio?
Amalgamated Financial had current assets of $118.3 million and current liabilities of $9.3 million, a current ratio of 12.77 (it can cover its short-term obligations).
How much goodwill does Amalgamated Financial have?
Amalgamated Financial carried $13.8 million of goodwill and intangible assets, 0.2% of total assets, at the end of fiscal 2025.