Apple Hospitality REIT, Inc. (APLE) Balance Sheet
APLE balance sheet, 2025
December 31, 2025 · U.S. dollars$4.90B assets = $1.75B liabilities + $3.15B equity
Both columns are drawn to the same scale: what APLE owns equals what it owes plus shareholders’ equity. Hover a block for its value.
APLE financial health
Descriptive bands, not a rating. Fiscal 2025.
APLE balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $4.98B2016 | $4.90B2025 | −0.2%/yr | |
| Total liabilities | $1.46B2016 | $1.75B2025 | +2.0%/yr | |
| Shareholders’ equity | $3.52B2016 | $3.15B2025 | −1.2%/yr | |
| Cash & short-term investments | $29.4M2016 | $39.4M2025 | +3.3%/yr | |
| Total debt | $1.34B2016 | $1.77B2025 | +3.2%/yr | |
| Net cash (debt) | −$1.31B2016 | −$1.73B2025 | −$426.3M | |
| Working capital | −$295.0M2016 | −$200.2M2025 | +$94.8M | |
| Book value per share | $18.432016 | $13.242025 | −3.6%/yr | |
| Current ratio | 0.252016 | 0.272025 | +0.01 | |
| Debt / equity | 0.382016 | 0.562025 | +0.18 | |
| Shares outstanding | 190.9M2016 | 237.8M2025 | +2.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
APLE assets
APLE liabilities and equity
APLE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
APLE balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $39.4M | $10.3M | $10.3M | $4.1M | $3.3M | $5.6M | −$216.6M | $33.6M | $29.8M | $29.4M |
| Cash & equivalents | $39.4M | $10.3M | $10.3M | $4.1M | $3.3M | $5.6M | −$216.6M | $33.6M | $29.8M | $29.4M |
| Short-term investments | — | — | $22.7M | $36.9M | $79,000 | $14,000 | $9.7M | $24.5M | $19.6M | $9.2M |
| Receivables | $33.5M | $34.5M | $36.4M | $43.3M | $40.1M | $22.1M | $26.9M | $29.1M | $31.8M | $41.7M |
| Inventory | $0 | $0 | $0 | $0 | $117.0M | $90.9M | $325.5M | $63.1M | $61.5M | $0 |
| Other current assets | $0 | $50.8M | $48.6M | $39.4M | $0 | $0 | $0 | $0 | $0 | $28.8M |
| Total current assets | $72.9M | $95.6M | $95.3M | $86.8M | $80.0M | $61.8M | $73.7M | $62.7M | $61.2M | $99.9M |
| Property, plant & equipment (net) | $23.3M | $0 | $25.4M | $26.3M | $27.1M | $27.2M | $28.3M | $4.82B | $4.79B | $4.82B |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $26.2M | $27.3M | $28.4M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $39.0M |
| Other non-current assets | $4.81B | $4.87B | $4.82B | $4.66B | $4.68B | $4.74B | $4.84B | $23.3M | $20.6M | $0 |
| Total assets | $4.90B | $4.97B | $4.94B | $4.77B | $4.79B | $4.83B | $4.94B | $4.93B | $4.90B | $4.98B |
| Liabilities | ||||||||||
| Accounts payable | $103.9M | $121.0M | $129.9M | $116.1M | $92.7M | $97.9M | $114.4M | $107.4M | $52.7M | $45.7M |
| Short-term debt | $273.0M | $82.5M | $111.9M | $112.0M | $76.0M | $105.8M | $50.9M | $268.8M | $12.0M | $40.3M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$44.7M | −$34.7M |
| Total current liabilities | $273.0M | $203.5M | $129.9M | $116.1M | $168.7M | $203.7M | $165.3M | $107.4M | $216.0M | $394.9M |
| Long-term debt | $1.48B | $1.39B | $1.37B | $1.37B | $1.44B | $1.48B | $1.32B | $1.41B | $1.12B | $1.07B |
| Lease obligations | $111.1M | $111.6M | $111.9M | $112.0M | $111.8M | $220.0M | $216.6M | — | — | — |
| Other long-term liabilities | $3.0M | $111.6M | $111.9M | $112.0M | $35.8M | $114.2M | $165.7M | $0 | $0 | $0 |
| Total liabilities | $1.75B | $1.70B | $1.61B | $1.59B | $1.64B | $1.80B | $1.65B | $1.52B | $1.33B | $1.46B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $4.72B | $4.77B | $4.79B | $4.58B | $4.57B | $4.49B | $4.49B | $4.50B | $4.59B | $4.45B |
| Retained earnings (deficit) | −$1.57B | −$1.52B | −$1.49B | −$1.44B | −$1.41B | −$1.42B | −$1.20B | −$1.10B | −$1.03B | −$940.7M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | $2.3M | $15.6M | $20.4M | $36.9M | −$15.5M | −$42.8M | −$4.7M | $10.0M | $9.8M | $4.6M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $3.15B | $3.27B | $3.32B | $3.18B | $3.15B | $3.03B | $3.29B | $3.41B | $3.57B | $3.52B |
| Key figures | ||||||||||
| Total debt | $1.77B | $1.58B | $1.48B | $1.48B | $1.55B | $1.70B | $1.54B | $1.68B | $1.22B | $1.34B |
| Net cash (debt) | −$1.73B | −$1.57B | −$1.47B | −$1.47B | −$1.55B | −$1.70B | −$1.75B | −$1.65B | −$1.19B | −$1.31B |
| Working capital | −$200.2M | −$107.9M | −$34.6M | −$29.2M | −$88.7M | −$141.8M | −$91.6M | −$44.7M | −$154.7M | −$295.0M |
| Tangible book value | $3.15B | $3.27B | $3.32B | $3.18B | $3.15B | $3.03B | $3.29B | $3.38B | $3.54B | $3.49B |
| Book value per share | $13.24 | $13.54 | $14.49 | $13.88 | $13.90 | $13.55 | $14.70 | $14.84 | $15.98 | $18.43 |
| Shares outstanding | 237.8M | 241.3M | 229.3M | 228.9M | 226.4M | 223.5M | 223.9M | 229.7M | 223.5M | 190.9M |
| Current ratio | 0.27 | 0.47 | 0.73 | 0.75 | 0.47 | 0.30 | 0.45 | 0.58 | 0.28 | 0.25 |
| Quick ratio | 0.27 | 0.22 | 0.36 | 0.41 | 0.26 | 0.14 | −1.15 | 0.58 | 0.29 | 0.18 |
| Debt / equity | 0.56 | 0.48 | 0.45 | 0.47 | 0.49 | 0.56 | 0.47 | 0.49 | 0.34 | 0.38 |
| Equity / assets | 64.2% | 65.7% | 67.3% | 66.6% | 65.7% | 62.7% | 66.6% | 69.2% | 72.8% | 70.6% |
| 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 | $10.2M | $7.8M | $39.4M | $50.3M | $7.9M | $14.9M | $10.3M | $6.1M | $7.2M | $4.9M | $10.3M | $35.4M |
| Cash & equivalents | $10.2M | $7.8M | $39.4M | $50.3M | $7.9M | $14.9M | $10.3M | $6.1M | $7.2M | $4.9M | $10.3M | $35.4M |
| Short-term investments | — | — | — | — | — | — | — | — | $21.4M | $24.5M | $18.1M | $37.4M |
| Receivables | $70,765 | $64.6M | $33.5M | $52.8M | $64.4M | $59.0M | $34.5M | $57.4M | $62.9M | $63.0M | $36.4M | $60.8M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $38.7M | $0 | $0 | $0 | $163.9M |
| Other current assets | $8,793 | $21.3M | $0 | $65.6M | $45.1M | $46.4M | $50.8M | $0 | $31.3M | $29.6M | $48.6M | $0 |
| Total current assets | $10.2M | $93.7M | $72.9M | $168.8M | $117.5M | $120.3M | $95.6M | $99.1M | $101.4M | $97.6M | $95.3M | $129.9M |
| Property, plant & equipment (net) | $4.7M | $0 | $23.3M | $0 | $0 | $0 | $0 | $0 | $4.91B | $4.87B | $25.4M | $4.55B |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $4.85B | $4.80B | $4.81B | $4.74B | $4.81B | $4.83B | $4.87B | $4.92B | $62.1M | $63.4M | $4.82B | $85.4M |
| Total assets | $4.87B | $4.89B | $4.90B | $4.91B | $4.93B | $4.95B | $4.97B | $5.02B | $5.08B | $5.03B | $4.94B | $4.76B |
| Liabilities | ||||||||||||
| Accounts payable | $110,795 | $91.1M | $103.9M | $104.4M | $93.1M | $88.5M | $121.0M | $112.1M | $93.8M | $85.7M | $129.9M | $104.9M |
| Short-term debt | $110.8M | $89.1M | $273.0M | $31.0M | $173.0M | $148.0M | $82.5M | $110.5M | $169.0M | $131.0M | $120.9M | $2.2M |
| Deferred revenue | — | — | — | — | — | — | — | — | $60.0M | $19.2M | — | — |
| Total current liabilities | $110.9M | $180.2M | $273.0M | $104.4M | $266.1M | $236.5M | $203.5M | $222.6M | $262.8M | $216.7M | $129.9M | $104.9M |
| Long-term debt | $1.46B | $1.48B | $1.48B | $1.51B | $1.35B | $1.39B | $1.39B | $1.39B | $1.37B | $1.37B | $1.37B | $1.37B |
| Lease obligations | $110.8M | $110.9M | $111.1M | $111.2M | $111.4M | $111.5M | $111.6M | $111.7M | $111.8M | $111.8M | $111.9M | $111.9M |
| Other long-term liabilities | $158.4M | $110.9M | $3.0M | $111.2M | $111.4M | $111.5M | $111.6M | $111.7M | $111.8M | $111.8M | $111.9M | $111.9M |
| Total liabilities | $1.73B | $1.77B | $1.75B | $1.72B | $1.73B | $1.74B | $1.70B | $1.72B | $1.74B | $1.70B | $1.61B | $1.59B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $4.72B | $4.72B | $4.72B | $4.73B | $4.74B | $4.75B | $4.77B | $4.77B | $4.79B | $4.81B | $4.79B | $4.58B |
| Retained earnings (deficit) | −$1.59B | −$1.60B | −$1.57B | −$1.55B | −$1.54B | −$1.55B | −$1.52B | −$1.48B | −$1.48B | −$1.50B | −$1.49B | −$1.44B |
| Accumulated other comprehensive income | $8.4M | $5.1M | $2.3M | $2.8M | $4.2M | $8.6M | $15.6M | $4.8M | $21.4M | $24.1M | $20.4M | $37.4M |
| Total shareholders' equity | $3.14B | $3.13B | $3.15B | $3.19B | $3.20B | $3.21B | $3.27B | $3.30B | $3.33B | $3.33B | $3.32B | $3.17B |
| Key figures | ||||||||||||
| Total debt | $112.4M | $1.68B | $1.77B | $1.62B | $1.64B | $1.65B | $1.58B | $1.61B | $1.65B | $1.61B | $1.48B | $1.49B |
| Net cash (debt) | −$102.2M | −$1.67B | −$1.73B | −$1.57B | −$1.63B | −$1.63B | −$1.57B | −$1.61B | −$1.64B | −$1.61B | −$1.47B | −$1.45B |
| Working capital | −$100.7M | −$86.4M | −$200.2M | $64.4M | −$148.6M | −$116.2M | −$107.9M | −$123.5M | −$161.3M | −$119.0M | −$34.6M | $24.9M |
| Tangible book value | $3.14B | $3.13B | $3.15B | $3.19B | $3.20B | $3.21B | $3.27B | $3.30B | $3.33B | $3.33B | $3.32B | $3.17B |
| Book value per share | $13.30 | $13.24 | $13.24 | $13.46 | $13.46 | $13.38 | $13.61 | $13.71 | $13.76 | $13.75 | $14.45 | $13.87 |
| Shares outstanding | 236.2M | 236.1M | 237.8M | 237.1M | 237.7M | 240.1M | 240.0M | 240.5M | 242.2M | 242.4M | 230.0M | 228.9M |
| Current ratio | 0.09 | 0.52 | 0.27 | 1.62 | 0.44 | 0.51 | 0.47 | 0.45 | 0.39 | 0.45 | 0.73 | 1.24 |
| Quick ratio | 0.09 | 0.40 | 0.27 | 0.99 | 0.27 | 0.31 | 0.22 | 0.29 | 0.27 | 0.31 | 0.36 | 0.92 |
| Debt / equity | 0.04 | 0.54 | 0.56 | 0.51 | 0.51 | 0.51 | 0.48 | 0.49 | 0.49 | 0.48 | 0.45 | 0.47 |
| Equity / assets | 64.5% | 63.9% | 64.2% | 64.9% | 64.9% | 64.9% | 65.7% | 65.7% | 65.7% | 66.3% | 67.3% | 66.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 23, 2026); data from EODHD.
APLE financial position
At the end of fiscal 2025 (December 31, 2025), Apple Hospitality REIT had total assets of $4.9 billion (down 1.4% from a year earlier), total liabilities of $1.8 billion and shareholders' equity of $3.1 billion. It held $39.4 million in cash and short-term investments against $1.8 billion of debt, net debt of $1.7 billion. Its current ratio was 0.27. In the latest quarter (ended June 30, 2026) total assets were $4.9 billion and equity $3.1 billion.
Related: APLE income statement, APLE cash flow statement, APLE key metrics. See the APLE stock overview for the latest quote and news.
APLE balance sheet FAQ
What are Apple Hospitality REIT's total assets?
Apple Hospitality REIT reported total assets of $4.9 billion at the end of fiscal 2025 (December 31, 2025), compared with $5.0 billion a year earlier.
How much debt does Apple Hospitality REIT have?
Apple Hospitality REIT 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 0.56.
How much cash does Apple Hospitality REIT have?
Apple Hospitality REIT held $39.4 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 Apple Hospitality REIT's book value?
Apple Hospitality REIT's shareholders' equity (book value) was $3.1 billion at the end of fiscal 2025, or $13.24 per share.
What is Apple Hospitality REIT's current ratio?
Apple Hospitality REIT had current assets of $72.9 million and current liabilities of $273.0 million, a current ratio of 0.27 (current liabilities exceed current assets).