ARMOUR Residential REIT, Inc. (ARR) Balance Sheet
ARR balance sheet, 2025
December 31, 2025 · U.S. dollars$21.01B assets = $18.74B liabilities + $2.26B equity
Both columns are drawn to the same scale: what ARR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ARR financial health
Descriptive bands, not a rating. Fiscal 2025.
ARR balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $7.98B2016 | $21.01B2025 | +11.4%/yr | |
| Total liabilities | $6.89B2016 | $18.74B2025 | +11.8%/yr | |
| Shareholders’ equity | $1.09B2016 | $2.26B2025 | +8.4%/yr | |
| Cash & short-term investments | $6.78B2016 | $63.3M2025 | −40.5%/yr | |
| Total debt | $6.87B2016 | $17.94B2025 | +11.3%/yr | |
| Net cash (debt) | −$85.2M2016 | −$17.88B2025 | −$17.8B | |
| Working capital | $6.79B2016 | −$17.79B2025 | −$24.6B | |
| Book value per share | $29.532023 | $23.992025 | −9.9%/yr | |
| Current ratio | 478.502016 | 0.012025 | −478.49 | |
| Debt / equity | 6.292016 | 7.942025 | +1.65 | |
| Shares outstanding | 43.1M2023 | 94.3M2025 | +48.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ARR assets
ARR liabilities and equity
ARR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ARR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $63.3M | $68.0M | $221.9M | $87.3M | $338.0M | $5.35B | $12.12B | $7.27B | $7.74B | $6.78B |
| Cash & equivalents | $63.3M | $68.0M | $221.9M | $87.3M | $338.0M | $167.7M | $181.4M | $221.7M | $265.2M | $271.8M |
| Short-term investments | — | — | $11.48B | $9.00B | $3.22B | $5.18B | $11.94B | $7.05B | $7.48B | $6.51B |
| Receivables | $86.2M | $52.9M | $47.1M | $28.8M | $10.0M | $12.8M | $35.1M | $22.5M | $22.2M | $18.5M |
| Inventory | $0 | $0 | $0 | −$9.00B | −$3.22B | −$3.26B | $308.3M | −$332.1M | −$64.4M | $369.7M |
| Other current assets | $0 | $0 | $12.08B | $9.00B | $3.22B | $3.26B | $0 | $332.1M | $64.4M | $0 |
| Total current assets | $149.4M | $120.8M | $12.34B | $116.1M | $348.0M | $5.36B | $12.16B | $7.30B | $7.77B | $6.80B |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $1.35B | $642.6M | $560.4M | $984.5M | $199.1M | $3.26B | $12.85B | $98.6M | $8.52B | $7.61B |
| Other non-current assets | $19.51B | $12.78B | $0 | $8.34B | $4.73B | $0 | $0 | $1.07B | $0 | $0 |
| Total assets | $21.01B | $13.55B | $12.34B | $9.44B | $5.28B | $5.52B | $13.27B | $8.46B | $8.93B | $7.98B |
| Liabilities | ||||||||||
| Accounts payable | $2.2M | $40.6M | $38.3M | $28.9M | $4.0M | $4.2M | $35.5M | $13.9M | $9.4M | $14.2M |
| Short-term debt | $17.94B | $10.72B | $9.65B | $6.46B | $3.95B | $4.54B | $11.35B | $7.04B | $7.56B | $6.82B |
| Deferred revenue | — | — | −$38.3M | −$6.46B | −$3.94B | −$4.53B | −$11.32B | −$7.02B | −$7.55B | −$6.80B |
| Total current liabilities | $17.94B | $12.08B | $11.10B | $6.4M | $4.0M | $4.2M | $35.5M | $13.9M | $9.4M | $14.2M |
| Long-term debt | $0 | $0 | $0 | $13.0M | $10.9M | $1.2M | $72.0M | $24.5M | $7.9M | $49.7M |
| Other long-term liabilities | $802.3M | $103.5M | $1.43B | $8.31B | $174.7M | $48.9M | $409.2M | $277.1M | $39.0M | $18.0M |
| Total liabilities | $18.74B | $12.19B | $11.07B | $8.32B | $4.0M | $4.2M | $35.5M | $7.34B | $7.60B | $6.89B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $112,000 | $62,000 | $49,000 | $163,000 | $94,000 | $65,000 | $59,000 | $44,000 | $42,000 | $37,000 |
| Retained earnings (deficit) | −$3.19B | −$840.9M | −$826.5M | −$758.5M | −$2.37B | −$2.27B | −$1.97B | −$1.58B | −$1.36B | −$1.44B |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | — | — | −$107,000 | −$11.5M | $107.0M | $179.0M | $355.5M | −$43.9M | −$20.1M | −$29.1M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $2.26B | $1.36B | $1.27B | $1.11B | $5.27B | $5.52B | $13.24B | $1.13B | $1.33B | $1.09B |
| Key figures | ||||||||||
| Total debt | $17.94B | $10.72B | $9.65B | $6.48B | $3.96B | $4.54B | $11.43B | $7.06B | $7.56B | $6.87B |
| Net cash (debt) | −$17.88B | −$10.65B | −$9.43B | −$6.39B | −$3.62B | $808.7M | $696.6M | $211.5M | $180.3M | −$85.2M |
| Working capital | −$17.79B | −$11.96B | $1.24B | $109.7M | $344.0M | $5.35B | $12.12B | $7.28B | $7.76B | $6.79B |
| Tangible book value | $2.26B | $1.36B | $1.27B | $1.11B | $5.27B | $5.52B | $13.24B | $1.13B | $1.33B | $1.09B |
| Book value per share | $23.99 | $26.10 | $29.53 | — | — | — | — | — | — | — |
| Shares outstanding | 94.3M | 52.2M | 43.1M | — | — | — | — | — | — | — |
| Current ratio | 0.01 | 0.01 | 1.11 | 18.13 | 87.00 | 1,277.13 | 342.27 | 525.81 | 825.51 | 478.50 |
| Quick ratio | 0.01 | 0.01 | 0.02 | 18.13 | 87.00 | 1,277.13 | 342.27 | 525.81 | 825.51 | 478.50 |
| Debt / equity | 7.94 | 7.87 | 7.59 | 5.82 | 0.75 | 0.82 | 0.86 | 6.28 | 5.70 | 6.29 |
| Equity / assets | 10.8% | 10.0% | 10.3% | 11.8% | 99.9% | 99.9% | 99.7% | 13.3% | 14.9% | 13.7% |
| 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 | $83.7M | $66.5M | $290.0M | $44.2M | $141.2M | $49.1M | $68.0M | $63.9M | $126.6M | $221.3M | $258.9M | $147.1M |
| Cash & equivalents | $83.7M | $66.5M | $290.0M | $44.2M | $141.2M | $49.1M | $68.0M | $63.9M | $126.6M | $221.3M | $258.9M | $147.1M |
| Short-term investments | — | — | — | — | — | — | — | — | $9.82B | $11.87B | $12.04B | $13.62B |
| Receivables | $91.3M | $88.6M | $86.2M | $376.2M | $64.1M | $62.2M | $52.9M | $49.0M | $37.0M | $82.2M | $47.1M | $150.9M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $247.1M | $0 | $0 | $0 | $201.5M |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $9.89B | $0 | $0 | $0 |
| Total current assets | $83.7M | $155.1M | $149.4M | $123.9M | $205.3M | $111.3M | $120.8M | $112.9M | $10.05B | $267.5M | −$1 | $187.9M |
| 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 | $885.0M | $1.14B | $1.35B | $806.7M | $1.24B | $733.0M | $642.6M | $1.17B | $840.2M | $601.3M | $560.4M | $289.3M |
| Other non-current assets | $21.78B | $20.16B | $19.51B | $18.43B | $14.80B | $14.65B | $12.78B | $12.12B | $0 | $11.34B | $11.78B | $13.44B |
| Total assets | $22.75B | $21.45B | $21.01B | $19.36B | $16.24B | $15.50B | $13.55B | $13.40B | $10.05B | $12.21B | $12.34B | $13.91B |
| Liabilities | ||||||||||||
| Accounts payable | $78.2M | $89.9M | $2.2M | $70.8M | $49.7M | $69.2M | $40.6M | $40.6M | $47.2M | $75.1M | $38.3M | $24.2M |
| Short-term debt | $19.44B | $18.46B | $17.94B | $16.56B | $12.81B | $12.49B | $10.71B | $10.19B | $7.07B | $8.65B | $9.65B | $11.50B |
| Deferred revenue | — | — | — | — | — | — | — | — | $9.7M | $8.58B | −$38.3M | −$11.48B |
| Total current liabilities | $20.16B | — | $17.94B | $16.70B | — | — | — | $627.9M | $8.55B | $8.65B | $9.86B | $11.54B |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $5.9M | $19.12B | $802.3M | $527.3M | $634.1M | — | — | $11.46B | $1.82B | $2.31B | $1.43B | $1.17B |
| Total liabilities | $20.17B | $19.12B | $18.74B | $17.23B | $14.58B | $13.79B | $12.19B | $12.09B | $8.89B | $10.96B | $11.07B | $12.68B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $136,000 | $124,000 | $112,000 | $112,000 | $88,000 | $82,000 | $62,000 | $55,000 | $49,000 | $49,000 | $49,000 | $49,000 |
| Retained earnings (deficit) | −$3.31B | −$3.33B | −$3.19B | −$729.9M | −$889.1M | −$3.25B | −$840.9M | −$794.4M | −$860.3M | −$811.9M | −$3.05B | −$3.08B |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | $3.13B | $0 | −$49,000 | −$49,000 | $926.1M |
| Total shareholders' equity | $2.58B | $2.34B | $2.26B | $2.13B | $1.66B | $1.70B | $1.36B | $1.32B | $1.16B | $1.25B | $1.27B | $1.24B |
| Key figures | ||||||||||||
| Total debt | $19.44B | $18.46B | $17.94B | $16.56B | $12.81B | $12.49B | $10.71B | $10.19B | $7.07B | $8.65B | $9.65B | $11.50B |
| Net cash (debt) | −$19.36B | −$18.40B | −$17.65B | −$16.51B | −$12.67B | −$12.44B | −$10.65B | −$10.12B | −$6.95B | −$8.43B | −$9.39B | −$11.36B |
| Working capital | −$20.08B | — | −$17.79B | −$16.58B | — | — | — | −$515.0M | $1.50B | −$8.39B | −$9.86B | −$11.36B |
| Tangible book value | $2.58B | $2.34B | $2.26B | $2.13B | $1.66B | $1.70B | $1.36B | $1.32B | $1.16B | $1.25B | $1.27B | $1.24B |
| Book value per share | $19.84 | $19.54 | $20.14 | $20.36 | $19.81 | $22.60 | $26.10 | $25.41 | $23.81 | $25.46 | $25.85 | $26.58 |
| Shares outstanding | 130.0M | 119.6M | 112.2M | 104.6M | 83.8M | 75.4M | 52.2M | 51.8M | 48.8M | 49.0M | 49.2M | 46.5M |
| Current ratio | 0.00 | — | 0.01 | 0.01 | — | — | — | 0.18 | 1.18 | 0.03 | −0.00 | 0.02 |
| Quick ratio | 0.01 | — | 0.02 | 0.03 | — | — | — | 0.18 | 0.02 | 0.04 | 0.03 | 0.03 |
| Debt / equity | 7.54 | 7.90 | 7.94 | 7.78 | 7.72 | 7.33 | 7.87 | 7.74 | 6.09 | 6.94 | 7.59 | 9.31 |
| Equity / assets | 11.3% | 10.9% | 10.8% | 11.0% | 10.2% | 11.0% | 10.0% | 9.8% | 11.6% | 10.2% | 10.3% | 8.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 18, 2026); data from EODHD.
ARR financial position
At the end of fiscal 2025 (December 31, 2025), ARMOUR Residential REIT had total assets of $21.0 billion (up 55.0% from a year earlier), total liabilities of $18.7 billion and shareholders' equity of $2.3 billion. It held $63.3 million in cash and short-term investments against $17.9 billion of debt, net debt of $17.9 billion. Its current ratio was 0.01. In the latest quarter (ended June 30, 2026) total assets were $22.7 billion and equity $2.6 billion.
Related: ARR income statement, ARR cash flow statement, ARR key metrics. See the ARR stock overview for the latest quote and news.
ARR balance sheet FAQ
What are ARMOUR Residential REIT's total assets?
ARMOUR Residential REIT reported total assets of $21.0 billion at the end of fiscal 2025 (December 31, 2025), compared with $13.5 billion a year earlier.
How much debt does ARMOUR Residential REIT have?
ARMOUR Residential REIT had $17.9 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 7.94.
How much cash does ARMOUR Residential REIT have?
ARMOUR Residential REIT held $63.3 million in cash and short-term investments at the end of fiscal 2025; with $17.9 billion of debt that is net debt of $17.9 billion.
What is ARMOUR Residential REIT's book value?
ARMOUR Residential REIT's shareholders' equity (book value) was $2.3 billion at the end of fiscal 2025, or $23.99 per share.
What is ARMOUR Residential REIT's current ratio?
ARMOUR Residential REIT had current assets of $149.4 million and current liabilities of $17.9 billion, a current ratio of 0.01 (current liabilities exceed current assets).