American Realty Investors, Inc. (ARL) Balance Sheet
ARL balance sheet, 2025
December 31, 2025 · U.S. dollars$1.10B assets = $277.6M liabilities + $819.7M equity
Both columns are drawn to the same scale: what ARL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ARL financial health
Descriptive bands, not a rating. Fiscal 2025.
ARL balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.17B2016 | $1.10B2025 | −0.8%/yr | |
| Total liabilities | $998.8M2016 | $277.6M2025 | −13.3%/yr | |
| Shareholders’ equity | $176.1M2016 | $617.4M2025 | +15.0%/yr | |
| Cash & short-term investments | $17.5M2016 | $89.1M2025 | +19.8%/yr | |
| Total debt | $1.70B2016 | $214.4M2025 | −20.5%/yr | |
| Net cash (debt) | −$1.68B2016 | −$125.2M2025 | +$1.6B | |
| Working capital | $150.9M2016 | $466.2M2025 | +$315.3M | |
| Book value per share | $11.352016 | $38.222025 | +14.4%/yr | |
| Debt / equity | 9.632016 | 0.352025 | −9.28 | |
| Shares outstanding | 15.5M2016 | 16.2M2025 | +0.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ARL assets
ARL liabilities and equity
ARL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ARL balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $89.1M | $99.7M | $127.2M | $233.2M | $66.7M | $36.8M | $51.2M | $36.4M | $42.9M | $17.5M |
| Cash & equivalents | $14.2M | $19.9M | $36.7M | $113.4M | $50.7M | $36.8M | $51.2M | $36.4M | $42.9M | $17.5M |
| Short-term investments | $75.0M | $79.8M | $90.4M | $119.8M | $16.0M | $0 | — | — | $45.6M | $38.4M |
| Receivables | $364.6M | $237.7M | $242.7M | $247.8M | $237.2M | $260.0M | $242.2M | $196.4M | $150.4M | $151.2M |
| Inventory | $0 | $0 | $0 | $703.5M | $347.9M | $397.2M | $344.5M | $0 | $48.2M | $48.9M |
| Other current assets | $15.2M | $20.6M | $42.3M | $0 | $0 | $0 | $0 | $70.2M | $0 | $0 |
| Total current assets | $469.0M | $358.0M | $412.2M | $589.9M | $325.9M | $347.0M | $325.5M | $303.1M | $238.9M | $207.2M |
| Property, plant & equipment (net) | $0 | $0 | $501.6M | $493.8M | $296.4M | $374.8M | $379.8M | $294.3M | $862.3M | $901.0M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $1.3M | $10.2M | $10.1M | $28.2M | $61.6M | $60.4M | $8.5M | $76.0M | $118.5M | $132.7M |
| Other non-current assets | $627.1M | $664.5M | $99.6M | $85.5M | $86.6M | $83.5M | $116.8M | $152.8M | $77.0M | $0 |
| Total assets | $1.10B | $1.03B | $1.02B | $1.20B | $770.6M | $865.8M | $830.6M | $826.1M | $1.30B | $1.17B |
| Liabilities | ||||||||||
| Accounts payable | $49.6M | $32.1M | $11.9M | $53.1M | $44.5M | $27.3M | $24.8M | $25.6M | $39.4M | $56.3M |
| Short-term debt | $2.8M | $0 | $23.3M | $188.0M | $183.4M | $242.7M | $24.8M | $33.9M | $86.3M | $850.7M |
| Deferred revenue | $9.8M | $9.8M | $2.6M | $9.8M | $9.8M | $19.8M | $24.8M | $33.9M | $77.3M | $91.4M |
| Total current liabilities | $2.8M | $35.3M | $14.5M | $246.3M | $51.1M | $277.6M | $32.0M | $30.5M | $43.0M | $56.3M |
| Long-term debt | $214.4M | $185.4M | $182.7M | $188.0M | $183.4M | $242.7M | $254.9M | $445.5M | $898.8M | $845.1M |
| Other long-term liabilities | $60.4M | $9.8M | $9.8M | $0 | $199.2M | $15.0M | $247.2M | $29.0M | $189.1M | $97.4M |
| Total liabilities | $277.6M | $230.5M | $207.0M | $385.3M | $433.7M | $535.4M | $534.1M | $505.0M | $1.13B | $998.8M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $162,000 | $162,000 | $162,000 | $162,000 | $162,000 | $162,000 | $164,000 | $164,000 | $110.0M | $103.1M |
| Retained earnings (deficit) | $554.4M | $538.7M | $553.4M | $549.4M | $176.1M | $172.7M | $163.7M | $179.7M | $6.0M | $14.4M |
| Treasury stock | — | — | — | — | — | −$2,000 | −$6.4M | −$6.4M | −$6.4M | −$6.4M |
| Accumulated other comprehensive income | — | — | −$1.8M | $812.2M | $0 | $0 | $0 | $0 | $0 | −$165.6M |
| Minority interest | $202.3M | $200.4M | $199.5M | $198.7M | $96.7M | $93.6M | $57.0M | $62.8M | $53.8M | $54.3M |
| Total shareholders' equity | $617.4M | $601.8M | $617.0M | $812.2M | $240.1M | $330.4M | $296.5M | $321.1M | $112.1M | $176.1M |
| Key figures | ||||||||||
| Total debt | $214.4M | $185.4M | $182.7M | $317.2M | $556.2M | $480.6M | $477.4M | $479.4M | $1.01B | $1.70B |
| Net cash (debt) | −$125.2M | −$85.7M | −$55.5M | −$84.0M | −$489.5M | −$443.8M | −$426.1M | −$443.0M | −$967.6M | −$1.68B |
| Working capital | $466.2M | $322.7M | $397.7M | $343.6M | $274.9M | $69.3M | $293.5M | $272.6M | $195.9M | $150.9M |
| Tangible book value | $617.4M | $601.8M | $617.0M | $812.2M | $240.1M | $330.4M | $296.5M | $321.1M | $112.1M | $176.1M |
| Book value per share | $38.22 | $37.26 | $38.20 | $50.28 | $14.87 | $20.59 | $18.54 | $19.23 | $7.22 | $11.35 |
| Shares outstanding | 16.2M | 16.2M | 16.2M | 16.2M | 16.2M | 16.0M | 16.0M | 16.7M | 15.5M | 15.5M |
| Current ratio | 166.96 | 10.13 | 28.43 | 2.40 | 6.38 | 1.25 | 10.17 | 9.94 | 5.56 | 3.68 |
| Quick ratio | 161.54 | 9.55 | 25.51 | 1.95 | 5.95 | 1.07 | 9.17 | 7.64 | 4.50 | 3.00 |
| Debt / equity | 0.35 | 0.31 | 0.30 | 0.39 | 2.32 | 1.45 | 1.61 | 1.49 | 9.02 | 9.63 |
| Equity / assets | 56.3% | 58.3% | 60.3% | 67.8% | 31.2% | 38.2% | 35.7% | 38.9% | 8.6% | 15.0% |
| 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 | $84.3M | $88.3M | $89.1M | $82.8M | $92.3M | $88.7M | $99.7M | $131.6M | $127.5M | $130.9M | $127.2M | $181.4M |
| Cash & equivalents | $10.8M | $9.6M | $14.2M | $12.0M | $34.2M | $13.8M | $19.9M | $39.5M | $46.1M | $54.7M | $36.7M | $47.2M |
| Short-term investments | $73.4M | $78.7M | $75.0M | $70.8M | $58.0M | $74.9M | $79.8M | $92.1M | $81.4M | $76.2M | $90.4M | $134.2M |
| Receivables | $364.1M | $360.1M | $247.5M | $347.0M | $352.6M | $236.7M | $237.7M | $236.1M | $242.2M | $238.1M | $242.7M | $238.1M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $491.8M |
| Other current assets | $11.2M | $13.4M | $15.2M | $17.7M | $15.4M | $18.2M | $20.6M | $29.6M | $31.0M | $38.4M | $42.3M | $0 |
| Total current assets | $459.6M | $461.8M | $351.8M | $447.5M | $460.3M | $343.6M | $358.0M | $397.2M | $400.6M | $407.3M | $412.2M | $455.6M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $612.1M | $0 | $0 | $0 | $0 | $513.3M | $503.1M | $501.6M | $502.0M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $1.3M | $1.3M | $1.3M | $10.2M | $10.1M | $10.1M | $10.2M | $10.6M | $10.2M | $10.5M | $10.1M | $10.3M |
| Other non-current assets | $629.3M | $625.8M | $744.2M | $26.2M | $615.9M | $691.4M | $664.5M | $634.9M | $102.2M | $101.2M | $99.6M | $94.4M |
| Total assets | $1.09B | $1.09B | $1.10B | $1.10B | $1.09B | $1.04B | $1.03B | $1.04B | $1.03B | $1.02B | $1.02B | $1.06B |
| Liabilities | ||||||||||||
| Accounts payable | $44.4M | $44.4M | $49.6M | $47.3M | $49.1M | $24.6M | $32.1M | $43.5M | $13.0M | $9.6M | $11.9M | $46.9M |
| Short-term debt | $29.3M | $29.4M | $2.8M | $0 | $0 | $0 | $14.3M | $0 | — | — | $23.3M | $182.4M |
| Deferred revenue | $9.8M | $9.8M | $9.8M | $9.8M | $9.8M | $9.8M | — | $9.8M | $9.8M | $9.8M | $2.6M | $9.8M |
| Total current liabilities | $29.3M | $29.4M | $53.4M | $50.8M | $3.4M | $28.0M | $35.3M | $46.6M | $15.9M | $12.3M | $14.5M | $231.8M |
| Long-term debt | $218.0M | $215.4M | $214.4M | $227.0M | $216.0M | $201.7M | $185.4M | $183.8M | $181.0M | $181.8M | $182.7M | $182.4M |
| Other long-term liabilities | $29.1M | $28.7M | $9.8M | $60.6M | $9.8M | $9.8M | $9.8M | $9.8M | $9.8M | $9.8M | $9.8M | $0 |
| Total liabilities | $276.5M | $273.6M | $277.6M | $287.6M | $278.2M | $239.4M | $230.5M | $240.2M | $206.7M | $204.0M | $207.0M | $241.6M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $162,000 | $162,000 | $162,000 | $162,000 | $162,000 | $162,000 | $162,000 | $162,000 | $162,000 | $162,000 | $162,000 | $162,000 |
| Retained earnings (deficit) | $552.8M | $553.9M | $554.4M | $544.6M | $544.5M | $541.7M | $538.7M | $538.9M | $556.3M | $555.2M | $553.4M | $555.5M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | −$1.8M | $0 | −$1.8M | −$162,000 | −$1.8M |
| Minority interest | $195.0M | $195.8M | $202.3M | $200.6M | $200.3M | — | — | — | — | — | — | — |
| Total shareholders' equity | $618.6M | $619.5M | $617.4M | $607.8M | $607.8M | $604.9M | $601.8M | $602.2M | $619.9M | $618.8M | $617.0M | $619.6M |
| Key figures | ||||||||||||
| Total debt | $218.0M | $215.4M | $214.4M | $227.0M | $216.0M | $201.7M | $185.4M | $183.8M | $181.0M | $181.8M | $182.7M | $182.4M |
| Net cash (debt) | −$133.7M | −$127.2M | −$125.2M | −$144.3M | −$123.7M | −$113.0M | −$85.7M | −$52.2M | −$53.5M | −$51.0M | −$55.5M | −$1.0M |
| Working capital | $430.2M | $432.4M | $298.4M | $396.7M | $456.9M | $315.6M | $322.7M | $350.6M | $384.7M | $395.0M | $397.7M | $223.9M |
| Tangible book value | $618.6M | $619.5M | $617.4M | $607.8M | $607.8M | $604.9M | $601.8M | $602.2M | $619.9M | $618.8M | $617.0M | $619.6M |
| Book value per share | $38.30 | $38.36 | $38.22 | $37.63 | $37.63 | $37.45 | $37.26 | $37.28 | $38.38 | $38.31 | $38.20 | $38.36 |
| Shares outstanding | 16.2M | 16.2M | 16.2M | 16.2M | 16.2M | 16.2M | 16.2M | 16.2M | 16.2M | 16.2M | 16.2M | 16.2M |
| Current ratio | 15.66 | 15.71 | 6.58 | 8.81 | 137.40 | 12.29 | 10.13 | 8.52 | 25.18 | 33.02 | 28.43 | 1.97 |
| Quick ratio | 15.28 | 15.25 | 6.30 | 8.46 | 132.80 | 11.64 | 9.55 | 7.88 | 23.23 | 29.91 | 25.51 | 1.81 |
| Debt / equity | 0.35 | 0.35 | 0.35 | 0.37 | 0.36 | 0.33 | 0.31 | 0.31 | 0.29 | 0.29 | 0.30 | 0.29 |
| Equity / assets | 56.7% | 56.9% | 56.3% | 55.5% | 55.9% | 57.9% | 58.3% | 57.8% | 60.4% | 60.5% | 60.3% | 58.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 12, 2026); data from EODHD.
ARL financial position
At the end of fiscal 2025 (December 31, 2025), American Realty Investors had total assets of $1.1 billion (up 6.2% from a year earlier), total liabilities of $277.6 million and shareholders' equity of $617.4 million. It held $89.1 million in cash and short-term investments against $214.4 million of debt, net debt of $125.2 million. Its current ratio was 166.96. In the latest quarter (ended June 30, 2026) total assets were $1.1 billion and equity $618.6 million.
Related: ARL income statement, ARL cash flow statement, ARL key metrics. See the ARL stock overview for the latest quote and news.
ARL balance sheet FAQ
What are American Realty Investors's total assets?
American Realty Investors reported total assets of $1.1 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.0 billion a year earlier.
How much debt does American Realty Investors have?
American Realty Investors had $214.4 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.35.
How much cash does American Realty Investors have?
American Realty Investors held $89.1 million in cash and short-term investments at the end of fiscal 2025; with $214.4 million of debt that is net debt of $125.2 million.
What is American Realty Investors's book value?
American Realty Investors's shareholders' equity (book value) was $617.4 million at the end of fiscal 2025, or $38.22 per share.
What is American Realty Investors's current ratio?
American Realty Investors had current assets of $469.0 million and current liabilities of $2.8 million, a current ratio of 166.96 (it can cover its short-term obligations).