Accelerant Holdings (ARX) Balance Sheet
ARX balance sheet, 2025
December 31, 2025 · U.S. dollars$8.26B assets = $7.54B liabilities + $726.4M equity
Both columns are drawn to the same scale: what ARX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ARX financial health
Descriptive bands, not a rating. Fiscal 2025.
ARX balance sheet trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.16B2021 | $8.26B2025 | +63.5%/yr | |
| Total liabilities | $899.4M2021 | $7.54B2025 | +70.1%/yr | |
| Shareholders’ equity | $257.9M2021 | $697.7M2025 | +28.2%/yr | |
| Cash & short-term investments | $340.1M2021 | $2.51B2025 | +64.8%/yr | |
| Total debt | $49.9M2021 | $121.3M2025 | +24.9%/yr | |
| Net cash (debt) | $290.2M2021 | $2.39B2025 | +$2.1B | |
| Working capital | $92.7M2021 | $542.5M2025 | +$449.8M | |
| Book value per share | $1.192021 | $3.672025 | +32.5%/yr | |
| Debt / equity | 0.192021 | 0.172025 | −0.02 | |
| Shares outstanding | 216.7M2021 | 190.3M2025 | −3.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ARX assets
ARX liabilities and equity
ARX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ARX balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $2.51B | $1.29B | $783.4M | $509.0M | $340.1M |
| Cash & equivalents | $1.80B | $1.23B | $775.4M | $446.2M | $301.9M |
| Short-term investments | $712.0M | $64.8M | $8.0M | $62.8M | $38.2M |
| Receivables | $3.40B | $3.73B | $2.27B | $659.2M | $295.2M |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $1.83B | $231.7M | $233.8M | $638.4M | $274.2M |
| Total current assets | $7.74B | $5.25B | $3.28B | $1.81B | $909.5M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $292.5M | $147.6M | $120.6M | $119.7M | $74.3M |
| Long-term investments | $722.4M | $562.5M | $226.9M | $260.5M | $146.9M |
| Other non-current assets | $0 | $133.1M | $105.6M | $12.3M | $24.8M |
| Total assets | $8.26B | $6.09B | $3.74B | $2.20B | $1.16B |
| Liabilities | |||||
| Accounts payable | $1.52B | $13.8M | $9.5M | $277.4M | $192.2M |
| Short-term debt | $3.1M | $800,000 | $0 | $0 | — |
| Deferred revenue | $2.16B | $193.0M | $120.4M | $828.1M | $364.9M |
| Total current liabilities | $7.20B | $541.8M | $101.1M | $1.81B | $816.8M |
| Long-term debt | $121.3M | $121.4M | $120.3M | $100.5M | $49.9M |
| Other long-term liabilities | $213.9M | $5.00B | $3.23B | $0 | $32.7M |
| Total liabilities | $7.54B | $5.67B | $3.45B | $1.85B | $899.4M |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $220 | $0 | $0 | $0 | — |
| Retained earnings (deficit) | −$1.54B | −$182.8M | −$210.0M | −$161.2M | −$69.5M |
| Accumulated other comprehensive income | $2.2M | −$19.5M | −$7.5M | −$10.9M | $8.1M |
| Minority interest | $28.7M | $18.3M | −$23.8M | −$4.5M | — |
| Total shareholders' equity | $697.7M | $408.7M | $310.5M | $354.5M | $257.9M |
| Key figures | |||||
| Total debt | $121.3M | $121.4M | $120.3M | $100.5M | $49.9M |
| Net cash (debt) | $2.39B | $1.17B | $663.1M | $408.5M | $290.2M |
| Working capital | $542.5M | $4.71B | $3.18B | −$2.1M | $92.7M |
| Tangible book value | $405.2M | $261.1M | $189.9M | $234.8M | $183.6M |
| Book value per share | $3.67 | $1.89 | $1.43 | $2.14 | $1.19 |
| Shares outstanding | 190.3M | 216.7M | 216.7M | 165.6M | 216.7M |
| Current ratio | 1.08 | 9.69 | 32.48 | 1.00 | 1.11 |
| Quick ratio | 0.82 | 9.27 | 30.17 | 0.65 | 0.78 |
| Debt / equity | 0.17 | 0.30 | 0.39 | 0.28 | 0.19 |
| Equity / assets | 8.4% | 6.7% | 8.3% | 16.1% | 22.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Cash & short-term investments | $1.74B | $2.43B | $2.51B | $2.46B | $2.21B | $1.89B | $1.29B | $1.11B | $783.4M |
| Cash & equivalents | $1.66B | $1.54B | $1.80B | $1.68B | $1.46B | $1.24B | $1.23B | $1.06B | $775.4M |
| Short-term investments | $86.4M | $890.2M | $712.0M | $786.7M | $751.4M | $646.9M | $64.8M | $48.6M | $8.0M |
| Receivables | $1.16B | $3.77B | $3.40B | $3.04B | $2.89B | $2.54B | $3.73B | $3.47B | $2.27B |
| Inventory | $6.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $1.80B | $1.87B | $1.83B | $1.89B | $1.94B | $1.73B | $231.7M | $203.6M | $233.8M |
| Total current assets | $4.70B | $8.06B | $7.74B | $7.39B | $7.04B | $6.15B | $5.25B | $4.78B | $3.28B |
| Property, plant & equipment (net) | $3.06B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $327.4M | $299.4M | $292.5M | $271.2M | $264.4M | $258.1M | $147.6M | $50.7M | $120.6M |
| Long-term investments | $675.2M | $902.0M | $722.4M | $796.1M | $761.6M | $655.8M | $562.5M | $0 | $226.9M |
| Other non-current assets | $178.1M | $0 | $0 | $0 | $0 | $0 | $133.1M | $672.7M | $105.6M |
| Total assets | $8.94B | $8.60B | $8.26B | $7.86B | $7.50B | $6.66B | $6.09B | $5.50B | $3.74B |
| Liabilities | |||||||||
| Accounts payable | $1.98B | $1.64B | $1.52B | $1.41B | $1.54B | $1.40B | $13.8M | $8.4M | $9.5M |
| Short-term debt | — | — | $3.1M | $0 | $5.0M | $0 | $800,000 | $3.1M | — |
| Deferred revenue | — | $2.21B | $2.16B | $2.39B | $2.41B | $2.18B | — | — | — |
| Total current liabilities | $603.4M | $7.57B | $7.20B | $7.08B | $6.94B | $6.23B | $541.8M | $1.52B | $101.1M |
| Long-term debt | $120.1M | $120.7M | $121.3M | $121.9M | $126.7M | $121.5M | $121.4M | $0 | $120.3M |
| Other long-term liabilities | $1.16B | $189.0M | $213.9M | $0 | $0 | $0 | $5.00B | $3.69B | $3.23B |
| Total liabilities | $8.20B | $7.88B | $7.54B | $7.16B | $7.01B | $6.26B | $5.67B | $5.21B | $3.45B |
| Shareholders' equity | |||||||||
| Common stock & paid-in capital | — | — | $220 | $220 | $0 | $0 | — | — | — |
| Retained earnings (deficit) | −$1.46B | −$1.54B | −$1.54B | −$1.54B | −$167.5M | −$1.56B | −$182.8M | −$203.8M | −$210.0M |
| Accumulated other comprehensive income | −$11.0M | −$8.8M | $2.2M | −$1.5M | $1.7M | −$11.2M | −$19.5M | −$7.1M | −$7.5M |
| Minority interest | $26.6M | $27.3M | $28.7M | $27.7M | $31.6M | — | — | — | — |
| Total shareholders' equity | $717.4M | $692.6M | $697.7M | $676.1M | $450.6M | $374.1M | $408.7M | $284.1M | $310.5M |
| Key figures | |||||||||
| Total debt | $120.1M | $120.7M | $121.3M | $121.9M | $126.7M | $121.5M | $121.4M | $121.1M | $120.3M |
| Net cash (debt) | $1.62B | $2.31B | $2.39B | $2.34B | $2.08B | $1.76B | $1.17B | $985.8M | $663.1M |
| Working capital | $4.10B | $489.8M | $542.5M | $314.5M | $100.8M | −$82.1M | $4.71B | $3.26B | $3.18B |
| Tangible book value | $390.0M | $393.2M | $405.2M | $404.9M | $186.2M | $116.0M | $261.1M | $233.4M | $189.9M |
| Book value per share | $3.24 | $3.12 | $3.15 | $3.28 | $2.05 | $1.73 | $1.89 | $1.31 | $1.62 |
| Shares outstanding | 221.1M | 222.0M | 221.8M | 206.1M | 220.0M | 216.7M | 216.7M | 216.7M | 191.1M |
| Current ratio | 7.79 | 1.06 | 1.08 | 1.04 | 1.01 | 0.99 | 9.69 | 3.15 | 32.48 |
| Quick ratio | 4.81 | 0.82 | 0.82 | 0.78 | 0.73 | 0.71 | 9.27 | 3.02 | 30.17 |
| Debt / equity | 0.17 | 0.17 | 0.17 | 0.18 | 0.28 | 0.32 | 0.30 | 0.43 | 0.39 |
| Equity / assets | 8.0% | 8.0% | 8.4% | 8.6% | 6.0% | 5.6% | 6.7% | 5.2% | 8.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 18, 2026); data from EODHD.
ARX financial position
At the end of fiscal 2025 (December 31, 2025), Accelerant had total assets of $8.3 billion (up 35.6% from a year earlier), total liabilities of $7.5 billion and shareholders' equity of $697.7 million. It held $2.5 billion in cash and short-term investments against $121.3 million of debt, a net cash position of $2.4 billion. Its current ratio was 1.08. In the latest quarter (ended June 30, 2026) total assets were $8.9 billion and equity $717.4 million.
Related: ARX income statement, ARX cash flow statement, ARX key metrics. See the ARX stock overview for the latest quote and news.
ARX balance sheet FAQ
What are Accelerant's total assets?
Accelerant reported total assets of $8.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $6.1 billion a year earlier.
How much debt does Accelerant have?
Accelerant had $121.3 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.17.
How much cash does Accelerant have?
Accelerant held $2.5 billion in cash and short-term investments at the end of fiscal 2025; with $121.3 million of debt that is net cash of $2.4 billion.
What is Accelerant's book value?
Accelerant's shareholders' equity (book value) was $697.7 million at the end of fiscal 2025, or $3.67 per share.
What is Accelerant's current ratio?
Accelerant had current assets of $7.7 billion and current liabilities of $7.2 billion, a current ratio of 1.08 (it can cover its short-term obligations).
How much goodwill does Accelerant have?
Accelerant carried $292.5 million of goodwill and intangible assets, 3.5% of total assets, at the end of fiscal 2025.