Angel Oak Mortgage, Inc. (AOMR) Balance Sheet
AOMR balance sheet, 2025
December 31, 2025 · U.S. dollars$2.75B assets = $2.48B liabilities + $267.5M equity
Both columns are drawn to the same scale: what AOMR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AOMR financial health
Descriptive bands, not a rating. Fiscal 2025.
AOMR balance sheet trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $431.0M2018 | $2.75B2025 | +30.3%/yr | |
| Total liabilities | $386.9M2018 | $2.48B2025 | +30.4%/yr | |
| Shareholders’ equity | $44.0M2018 | $267.5M2025 | +29.4%/yr | |
| Cash & short-term investments | $791,0002018 | $41.6M2025 | +76.1%/yr | |
| Total debt | $385.7M2018 | $2.28B2025 | +28.9%/yr | |
| Net cash (debt) | −$384.9M2018 | −$2.24B2025 | −$1.9B | |
| Working capital | −$154.6M2018 | −$201.9M2025 | −$47.4M | |
| Book value per share | $1.682018 | $11.002025 | +30.8%/yr | |
| Current ratio | 0.602018 | 0.222025 | −0.38 | |
| Debt / equity | 8.762018 | 8.512025 | −0.24 | |
| Shares outstanding | 26.2M2018 | 24.3M2025 | −1.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AOMR assets
AOMR liabilities and equity
AOMR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AOMR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | $41.6M | $40.8M | $41.6M | $29.3M | $40.8M | $43.6M | $7.5M | $791,000 |
| Cash & equivalents | $41.6M | $40.8M | $41.6M | $29.3M | $40.8M | $43.6M | $7.4M | $791,000 |
| Short-term investments | — | — | $22.8M | $14.8M | $2.4M | — | $59,000 | — |
| Receivables | $10.4M | $8.1M | $7.5M | $17.5M | $26.0M | $149.5M | $183.6M | $229.5M |
| Inventory | $0 | $0 | $0 | −$14.8M | −$2.4M | $1 | −$58,999 | $1 |
| Other current assets | $5.2M | $0 | $0 | $14.8M | $2.4M | $7.5M | $6.1M | $2.1M |
| Total current assets | $57.2M | $48.9M | $49.1M | $46.8M | $66.8M | $200.5M | $197.1M | $232.3M |
| Property, plant & equipment (net) | $0 | $0 | −$3.5M | −$3.5M | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $3.5M | $3.5M | $0 | $0 | $0 | $0 |
| Long-term investments | $310.2M | $326.5M | $644.8M | $1.06B | $746.4M | $308.7M | $261.9M | $0 |
| Other non-current assets | $2.38B | $1.89B | $1.61B | $1.84B | $1.76B | $388,000 | $55,000 | $198.6M |
| Total assets | $2.75B | $2.27B | $2.31B | $2.95B | $2.58B | $509.7M | $459.1M | $431.0M |
| Liabilities | ||||||||
| Accounts payable | $201.6M | $202.9M | $392.8M | $1.01B | $1.3M | $100,000 | $434,000 | — |
| Short-term debt | $54.0M | $180.0M | $484.3M | $639.9M | $853.4M | $225.5M | $325.1M | $385.7M |
| Deferred revenue | — | — | −$392.8M | — | −$852.1M | −$225.2M | −$223.7M | — |
| Total current liabilities | $259.1M | $389.4M | $881.4M | $1.01B | $1.3M | $226.4M | $326.8M | $386.9M |
| Long-term debt | $2.22B | $1.77B | $1.46B | $1.00B | $1.47B | $81.9M | $138.5M | $0 |
| Other long-term liabilities | $32,000 | $80.0M | $0 | $5.1M | $0 | $0 | $0 | $0 |
| Total liabilities | $2.48B | $2.03B | $2.05B | $2.71B | $2.09B | $261.3M | $364.2M | $386.9M |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | $249,000 | $234,000 | $249,000 | $249,000 | $252,000 | $157,000 | $3.6M | — |
| Retained earnings (deficit) | −$206.0M | −$218.8M | −$216.2M | −$218.0M | $11.5M | $2.6M | $3.6M | −$1.5M |
| Accumulated other comprehensive income | −$1.3M | −$3.5M | −$5.0M | −$21.1M | $3.0M | −$1.0M | $3.6M | $0 |
| Total shareholders' equity | $267.5M | $239.0M | $256.1M | $236.5M | $491.4M | $248.3M | $94.9M | $44.0M |
| Key figures | ||||||||
| Total debt | $2.28B | $1.77B | $1.46B | $1.64B | $1.47B | $260.4M | $362.5M | $385.7M |
| Net cash (debt) | −$2.24B | −$1.73B | −$1.42B | −$1.61B | −$1.43B | −$216.8M | −$355.1M | −$384.9M |
| Working capital | −$201.9M | −$340.5M | −$832.3M | −$961.8M | $65.5M | −$25.9M | −$129.7M | −$154.6M |
| Tangible book value | $267.5M | $239.0M | $252.6M | $233.0M | $491.4M | $248.3M | $94.9M | $44.0M |
| Book value per share | $11.00 | $9.79 | $10.27 | $9.63 | $23.56 | $15.79 | $3.62 | $1.68 |
| Shares outstanding | 24.3M | 24.4M | 24.9M | 24.5M | 20.9M | 15.7M | 26.2M | 26.2M |
| Current ratio | 0.22 | 0.13 | 0.06 | 0.05 | 52.05 | 0.89 | 0.60 | 0.60 |
| Quick ratio | 0.20 | 0.13 | 0.06 | 0.05 | 52.05 | 0.85 | 0.58 | 0.60 |
| Debt / equity | 8.51 | 7.41 | 5.70 | 6.95 | 2.99 | 1.05 | 3.82 | 8.76 |
| Equity / assets | 9.7% | 10.5% | 11.1% | 8.0% | 19.1% | 48.7% | 20.7% | 10.2% |
| 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 | $48.6M | $42.0M | $41.6M | $51.6M | $40.5M | $38.7M | $40.8M | $42.1M | $44.0M | $39.4M | $41.6M | $43.0M |
| Cash & equivalents | $48.6M | $42.0M | $41.6M | $51.6M | $40.5M | $38.7M | $40.8M | $42.1M | $44.0M | $39.4M | $41.6M | $43.0M |
| Short-term investments | — | — | — | — | — | — | — | — | $1.7M | — | — | $7.9M |
| Receivables | $16.5M | $11.3M | $10.4M | $14.8M | $6.8M | $9.8M | $8.1M | $6.6M | $6.2M | $10.6M | $1.60B | $4.7M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $51.4M | −$1.7M | $1 | $0 | −$7.9M |
| Other current assets | $0 | $3.2M | $5.2M | $4.0M | $0 | $0 | $0 | $0 | $1.7M | $1.57B | $11.8M | $6.8M |
| Total current assets | $65.1M | $56.4M | $57.2M | $70.4M | $47.3M | $48.5M | $48.9M | $48.7M | $50.1M | $1.62B | $1.65B | $46.6M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $338.5M | $243.3M | $310.2M | $261.1M | $388.2M | $499.8M | $326.5M | $357.7M | $441.9M | $619.5M | $644.8M | $736.2M |
| Other non-current assets | $2.59B | $2.51B | $2.38B | $2.31B | $2.12B | $2.13B | $1.89B | $1.90B | $1.62B | $8.7M | $8.7M | $1.51B |
| Total assets | $2.99B | $2.81B | $2.75B | $2.64B | $2.55B | $2.68B | $2.27B | $2.30B | $2.11B | $2.25B | $2.31B | $2.30B |
| Liabilities | ||||||||||||
| Accounts payable | $257.9M | $131.2M | $201.6M | $156.0M | $256.5M | $304.5M | $202.9M | $196.0M | $182.3M | $360.7M | $392.8M | $512.6M |
| Short-term debt | $435.1M | $57.0M | $54.0M | $54.0M | $191.0M | $509.9M | $180.0M | $380.7M | $302.3M | $477.5M | $485.6M | $385.9M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$182.3M | −$359.8M | −$392.8M | — |
| Total current liabilities | $435.1M | $191.9M | $259.1M | $214.6M | $207.4M | $411.1M | $180.0M | $637.4M | $485.7M | $842.0M | $882.8M | $902.5M |
| Long-term debt | $2.42B | $2.36B | $2.22B | $2.16B | $1.98B | $1.96B | $1.77B | $1.73B | $1.47B | $1.43B | $1.46B | $1.36B |
| Other long-term liabilities | $0 | $0 | $32,000 | $1.3M | $0 | $49.5M | $80.0M | $0 | $0 | $0 | $0 | $506.9M |
| Total liabilities | $2.76B | $2.55B | $2.48B | $2.37B | $2.31B | $2.43B | $2.03B | $2.04B | $1.86B | $1.99B | $2.05B | $2.06B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $230,000 | $249,000 | $249,000 | $249,000 | $238,000 | $234,000 | $234,000 | $234,000 | $249,000 | $249,000 | $249,000 | $249,000 |
| Retained earnings (deficit) | −$225.6M | −$221.4M | −$206.0M | −$209.2M | −$212.8M | −$205.9M | −$218.8M | −$195.9M | −$219.6M | −$211.4M | −$216.2M | −$236.8M |
| Accumulated other comprehensive income | −$220,000 | $3.1M | −$1.3M | −$996,000 | −$4.7M | −$4.2M | −$3.5M | −$441,000 | −$3.1M | −$3.3M | −$5.0M | −$8.2M |
| Total shareholders' equity | $234.9M | $256.9M | $267.5M | $264.2M | $246.4M | $251.5M | $239.0M | $265.1M | $255.8M | $263.3M | $256.1M | $231.8M |
| Key figures | ||||||||||||
| Total debt | $2.49B | $2.42B | $2.28B | $2.21B | $1.98B | $1.96B | $1.77B | $1.73B | $1.67B | $1.43B | $1.65B | $1.55B |
| Net cash (debt) | −$2.44B | −$2.38B | −$2.24B | −$2.16B | −$1.93B | −$1.93B | −$1.73B | −$1.69B | −$1.63B | −$1.39B | −$1.61B | −$1.50B |
| Working capital | −$370.0M | −$135.5M | −$201.9M | −$144.1M | −$160.0M | −$362.6M | −$131.1M | −$588.7M | −$435.6M | $781.8M | $771.8M | −$855.9M |
| Tangible book value | $234.9M | $256.9M | $267.5M | $264.2M | $246.4M | $251.5M | $239.0M | $265.1M | $255.8M | $263.3M | $256.1M | $231.8M |
| Book value per share | $9.62 | $10.38 | $10.61 | $10.76 | $10.39 | $10.64 | $10.16 | $11.01 | $10.31 | $10.55 | $10.26 | $9.29 |
| Shares outstanding | 24.4M | 24.8M | 25.2M | 24.6M | 23.7M | 23.6M | 23.5M | 24.1M | 24.8M | 25.0M | 25.0M | 25.0M |
| Current ratio | 0.15 | 0.29 | 0.22 | 0.33 | 0.23 | 0.12 | 0.27 | 0.08 | 0.10 | 1.93 | 1.87 | 0.05 |
| Quick ratio | 0.15 | 0.28 | 0.20 | 0.31 | 0.23 | 0.12 | 0.27 | 0.08 | 0.10 | 0.06 | 1.86 | 0.05 |
| Debt / equity | 10.62 | 9.41 | 8.51 | 8.37 | 8.02 | 7.81 | 7.41 | 6.54 | 6.55 | 5.43 | 6.46 | 6.67 |
| Equity / assets | 7.9% | 9.1% | 9.7% | 10.0% | 9.6% | 9.4% | 10.5% | 11.5% | 12.1% | 11.7% | 11.1% | 10.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 3, 2026); data from EODHD.
AOMR financial position
At the end of fiscal 2025 (December 31, 2025), Angel Oak Mortgage had total assets of $2.7 billion (up 21.1% from a year earlier), total liabilities of $2.5 billion and shareholders' equity of $267.5 million. It held $41.6 million in cash and short-term investments against $2.3 billion of debt, net debt of $2.2 billion. Its current ratio was 0.22. In the latest quarter (ended June 30, 2026) total assets were $3.0 billion and equity $234.9 million.
Related: AOMR income statement, AOMR cash flow statement, AOMR key metrics. See the AOMR stock overview for the latest quote and news.
AOMR balance sheet FAQ
What are Angel Oak Mortgage's total assets?
Angel Oak Mortgage reported total assets of $2.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.3 billion a year earlier.
How much debt does Angel Oak Mortgage have?
Angel Oak Mortgage had $2.3 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 8.51.
How much cash does Angel Oak Mortgage have?
Angel Oak Mortgage held $41.6 million in cash and short-term investments at the end of fiscal 2025; with $2.3 billion of debt that is net debt of $2.2 billion.
What is Angel Oak Mortgage's book value?
Angel Oak Mortgage's shareholders' equity (book value) was $267.5 million at the end of fiscal 2025, or $11.00 per share.
What is Angel Oak Mortgage's current ratio?
Angel Oak Mortgage had current assets of $57.2 million and current liabilities of $259.1 million, a current ratio of 0.22 (current liabilities exceed current assets).