Atlanticus Holdings Corporation (ATLC) Balance Sheet
ATLC balance sheet, 2025
December 31, 2025 · U.S. dollars$7.62B assets = $7.02B liabilities + $603.8M equity
Both columns are drawn to the same scale: what ATLC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ATLC financial health
Descriptive bands, not a rating. Fiscal 2025.
ATLC balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $364.0M2016 | $7.62B2025 | +40.2%/yr | |
| Total liabilities | $358.2M2016 | $7.02B2025 | +39.2%/yr | |
| Shareholders’ equity | $5.8M2016 | $608.7M2025 | +67.8%/yr | |
| Cash & short-term investments | $76.6M2016 | $621.1M2025 | +26.2%/yr | |
| Total debt | $397.3M2016 | $6.54B2025 | +36.5%/yr | |
| Net cash (debt) | −$320.7M2016 | −$5.92B2025 | −$5.6B | |
| Working capital | $129.5M2016 | $330.8M2025 | +$201.3M | |
| Book value per share | $0.412016 | $31.722025 | +61.9%/yr | |
| Current ratio | 1.702016 | 1.762025 | +0.06 | |
| Debt / equity | 68.772016 | 10.752025 | −58.02 | |
| Shares outstanding | 13.9M2016 | 19.2M2025 | +3.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ATLC assets
ATLC liabilities and equity
ATLC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ATLC balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $621.1M | $375.4M | $339.3M | $385.0M | $409.7M | $178.1M | $135.5M | $61.1M | $41.7M | $76.6M |
| Cash & equivalents | $621.1M | $375.4M | $339.3M | $385.0M | $409.7M | $178.1M | $135.5M | $61.1M | $41.7M | $76.6M |
| Short-term investments | — | — | — | — | — | — | — | — | $29.4M | $17.1M |
| Receivables | $0 | $0 | $2.27B | $3.72B | $2.85B | $1.88B | $1.54B | $424.5M | $305.1M | $239.4M |
| Inventory | $0 | $0 | $383.7M | $433.2M | −$2.34B | −$1.62B | −$1.37B | $141.8M | $70.4M | $92.1M |
| Other current assets | $146.3M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $767.4M | $375.4M | $339.3M | $4.11B | $409.7M | $178.1M | $135.5M | $485.6M | $346.6M | $315.5M |
| Property, plant & equipment (net) | $27.7M | $24.4M | $22.8M | $21.8M | $11.4M | $11.4M | $16.8M | $3.6M | $3.2M | $3.9M |
| Goodwill & intangible assets | $30.3M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $1.91B | $1.41B | $1.4M | $727.9M | $2.5M | $309.3M | $246.2M |
| Other non-current assets | $6.80B | $2.87B | $2.34B | $0 | $112.6M | $1.02B | $56.0M | $90.9M | $0 | $0 |
| Total assets | $7.62B | $3.27B | $2.71B | $2.39B | $1.94B | $1.21B | $936.3M | $582.6M | $425.6M | $364.0M |
| Liabilities | ||||||||||
| Accounts payable | $284.5M | $72.1M | $61.6M | $44.3M | $42.3M | $41.7M | $41.6M | $105.8M | $115.7M | $86.8M |
| Short-term debt | $79.7M | $92.1M | $64.7M | $1.67B | $1.28B | $899.3M | $775.4M | $436.6M | $275.5M | $193.9M |
| Deferred revenue | — | — | −$17.9M | −$16.2M | −$29.3M | −$39.5M | −$90.3M | −$43.9M | −$37.0M | −$23.6M |
| Total current liabilities | $436.7M | $72.1M | $61.6M | $1.76B | $42.3M | $41.7M | $41.6M | $105.8M | $247.7M | $186.0M |
| Long-term debt | $6.52B | $2.48B | $2.01B | $1.80B | $1.42B | $907.0M | $773.3M | $498.7M | $287.6M | $203.4M |
| Lease obligations | $25.3M | $24.2M | $20.2M | $20.1M | $4.8M | $13.8M | $22.3M | — | — | — |
| Other long-term liabilities | $65.3M | $228.3M | $246.3M | $0 | $4.8M | $16.7M | $26.2M | $0 | $0 | $0 |
| Total liabilities | $7.02B | $2.78B | $2.31B | $2.02B | $1.62B | $1.09B | $895.9M | $604.7M | $461.7M | $358.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | — | — | — | — | — | — | — | $3.6M | $212.8M | $417.5M |
| Retained earnings (deficit) | $506.4M | $394.6M | $307.3M | $204.4M | $60.2M | −$117.7M | −$211.8M | −$238.8M | −$246.6M | −$205.9M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | — | — | $0 | $0 | $0 | $0 | $89.4M | $3.6M | −$2.2M | $0 |
| Minority interest | −$4.9M | −$3.5M | −$2.3M | −$1.4M | −$500,000 | −$774,000 | −$571,000 | −$338,000 | −$94,000 | −$10,000 |
| Total shareholders' equity | $608.7M | $492.9M | $394.7M | $365.0M | $327.5M | $116.5M | $40.3M | −$22.1M | −$36.1M | $5.8M |
| Key figures | ||||||||||
| Total debt | $6.54B | $2.51B | $2.03B | $3.47B | $2.71B | $1.81B | $1.55B | $935.3M | $563.1M | $397.3M |
| Net cash (debt) | −$5.92B | −$2.13B | −$1.69B | −$3.09B | −$2.30B | −$1.63B | −$1.41B | −$874.2M | −$521.4M | −$320.7M |
| Working capital | $330.8M | $303.3M | $277.7M | $2.34B | $367.4M | $136.4M | $93.9M | $379.9M | $98.9M | $129.5M |
| Tangible book value | $578.4M | $492.9M | $394.7M | $365.0M | $327.5M | $116.5M | $40.3M | −$22.1M | −$36.1M | $5.8M |
| Book value per share | $31.72 | $26.22 | $20.90 | $18.84 | $15.67 | $5.80 | $2.64 | −$1.58 | −$2.59 | $0.41 |
| Shares outstanding | 19.2M | 18.8M | 18.9M | 19.4M | 20.9M | 20.1M | 15.3M | 14.0M | 13.9M | 13.9M |
| Current ratio | 1.76 | 5.21 | 5.51 | 2.33 | 9.69 | 4.27 | 3.26 | 4.59 | 1.40 | 1.70 |
| Quick ratio | 1.42 | 5.21 | 42.37 | 2.33 | 77.08 | 49.32 | 40.31 | 4.59 | 1.40 | 1.70 |
| Debt / equity | 10.75 | 5.08 | 5.13 | 9.51 | 8.26 | 15.50 | 38.40 | — | — | 68.77 |
| Equity / assets | 8.0% | 15.1% | 14.6% | 15.3% | 16.8% | 9.7% | 4.3% | −3.8% | −8.5% | 1.6% |
| 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 | $645.2M | $804.1M | $621.1M | $425.0M | $329.4M | $350.4M | $375.4M | $308.7M | $407.2M | $444.8M | $339.3M | $355.7M |
| Cash & equivalents | $645.2M | $804.1M | $621.1M | $425.0M | $329.4M | $350.4M | $375.4M | $308.7M | $407.2M | $444.8M | $339.3M | $355.7M |
| Short-term investments | — | — | — | — | — | — | — | $76.1M | — | — | — | $44.3M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.27B | $4.31B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $383.7M | $434.5M |
| Other current assets | $0 | $0 | $146.3M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $645.2M | $804.1M | $767.4M | $425.0M | $329.4M | $350.4M | $375.4M | $308.7M | $407.2M | $444.8M | $339.3M | $355.7M |
| Property, plant & equipment (net) | $24.8M | $26.3M | $27.7M | $29.0M | $27.4M | $26.2M | $24.4M | $20.7M | $21.4M | $22.2M | $22.8M | $23.4M |
| Goodwill & intangible assets | $25.1M | $27.7M | $30.3M | $31.9M | $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 | $6.80B | $6.61B | $6.80B | $6.59B | $3.29B | $2.90B | $2.87B | $2.71B | $2.41B | $2.32B | $2.34B | $2.22B |
| Total assets | $7.49B | $7.47B | $7.62B | $7.08B | $3.64B | $3.27B | $3.27B | $3.04B | $2.84B | $2.79B | $2.71B | $2.60B |
| Liabilities | ||||||||||||
| Accounts payable | $275.3M | $258.3M | $284.5M | $253.1M | $112.8M | $81.1M | $72.1M | $59.6M | $70.6M | $59.2M | $61.6M | $48.2M |
| Short-term debt | $43.3M | $78.4M | $79.7M | $68.6M | $78.7M | — | $92.1M | $163.3M | $38.9M | $30.5M | $64.7M | $36.7M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$70.6M | −$59.2M | −$17.9M | −$18.2M |
| Total current liabilities | $43.3M | $78.4M | $436.7M | $68.6M | $112.8M | $81.1M | $72.1M | $59.6M | $2.00B | $59.2M | $61.6M | $48.2M |
| Long-term debt | $6.27B | $6.33B | $6.52B | $6.04B | $2.77B | $2.47B | $2.48B | $2.29B | $2.08B | $2.06B | $2.01B | $1.93B |
| Lease obligations | $23.6M | $24.5M | $25.3M | $25.9M | $24.0M | $24.1M | $24.2M | $19.4M | $19.7M | $20.0M | $20.2M | $20.4M |
| Other long-term liabilities | $440.0M | $372.8M | $65.3M | $351.2M | $196.8M | $187.9M | $228.3M | $239.6M | $0 | $253.2M | $246.3M | $241.7M |
| Total liabilities | $6.75B | $6.78B | $7.02B | $6.45B | $3.08B | $2.74B | $2.78B | $2.59B | $2.27B | $2.37B | $2.31B | $2.22B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | — | — | — | — | — | — | — | — | $1 | — | — |
| Retained earnings (deficit) | $595.7M | $548.3M | $506.4M | $473.6M | $450.9M | $422.6M | $394.6M | $368.3M | $345.1M | $327.1M | $307.3M | $281.0M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | — | $0 | — | $0 |
| Minority interest | −$4.4M | −$4.5M | −$4.9M | −$4.5M | −$4.1M | — | — | — | — | — | — | — |
| Total shareholders' equity | $741.9M | $688.4M | $608.7M | $629.3M | $563.3M | $532.7M | $492.9M | $457.7M | $473.8M | $416.0M | $394.7M | $376.8M |
| Key figures | ||||||||||||
| Total debt | $6.29B | $6.35B | $6.54B | $6.06B | $2.80B | $2.50B | $2.51B | $2.31B | $2.10B | $2.08B | $2.03B | $1.95B |
| Net cash (debt) | −$5.65B | −$5.55B | −$5.92B | −$5.64B | −$2.47B | −$2.15B | −$2.13B | −$2.00B | −$1.69B | −$1.64B | −$1.69B | −$1.60B |
| Working capital | $601.9M | $725.6M | $330.8M | $356.4M | $216.6M | $269.3M | $303.3M | $249.1M | −$1.59B | $385.6M | $277.7M | $307.5M |
| Tangible book value | $716.7M | $660.7M | $578.4M | $597.5M | $563.3M | $532.7M | $492.9M | $457.7M | $473.8M | $416.0M | $394.7M | $376.8M |
| Book value per share | $38.67 | $35.88 | $31.72 | $32.80 | $29.36 | $28.13 | $26.03 | $24.34 | $25.19 | $22.22 | $21.11 | $19.92 |
| Shares outstanding | 19.2M | 19.2M | 19.2M | 19.2M | 19.2M | 18.9M | 18.9M | 18.8M | 18.8M | 18.7M | 18.7M | 18.9M |
| Current ratio | 14.90 | 10.25 | 1.76 | 6.19 | 2.92 | 4.32 | 5.21 | 5.18 | 0.20 | 7.52 | 5.51 | 7.38 |
| Quick ratio | 14.90 | 10.25 | 1.42 | 6.19 | 2.92 | 4.32 | 5.21 | 5.18 | 0.20 | 7.52 | 42.37 | 96.94 |
| Debt / equity | 8.48 | 9.23 | 10.75 | 9.63 | 4.97 | 4.69 | 5.08 | 5.04 | 4.43 | 5.00 | 5.13 | 5.18 |
| Equity / assets | 9.9% | 9.2% | 8.0% | 8.9% | 15.5% | 16.3% | 15.1% | 15.1% | 16.7% | 14.9% | 14.6% | 14.5% |
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.
ATLC financial position
At the end of fiscal 2025 (December 31, 2025), Atlanticus had total assets of $7.6 billion (up 133.1% from a year earlier), total liabilities of $7.0 billion and shareholders' equity of $608.7 million. It held $621.1 million in cash and short-term investments against $6.5 billion of debt, net debt of $5.9 billion. Its current ratio was 1.76. In the latest quarter (ended June 30, 2026) total assets were $7.5 billion and equity $741.9 million.
Related: ATLC income statement, ATLC cash flow statement, ATLC key metrics. See the ATLC stock overview for the latest quote and news.
ATLC balance sheet FAQ
What are Atlanticus's total assets?
Atlanticus reported total assets of $7.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $3.3 billion a year earlier.
How much debt does Atlanticus have?
Atlanticus had $6.5 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 10.75.
How much cash does Atlanticus have?
Atlanticus held $621.1 million in cash and short-term investments at the end of fiscal 2025; with $6.5 billion of debt that is net debt of $5.9 billion.
What is Atlanticus's book value?
Atlanticus's shareholders' equity (book value) was $608.7 million at the end of fiscal 2025, or $31.72 per share.
What is Atlanticus's current ratio?
Atlanticus had current assets of $767.4 million and current liabilities of $436.7 million, a current ratio of 1.76 (it can cover its short-term obligations).
How much goodwill does Atlanticus have?
Atlanticus carried $30.3 million of goodwill and intangible assets, 0.4% of total assets, at the end of fiscal 2025.