Ames National Corporation (ATLO) Balance Sheet
ATLO balance sheet, 2025
December 31, 2025 · U.S. dollars$2.13B assets = $1.93B liabilities + $207.9M equity
Both columns are drawn to the same scale: what ATLO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ATLO financial health
Descriptive bands, not a rating. Fiscal 2025.
ATLO balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.37B2016 | $2.13B2025 | +5.1%/yr | |
| Total liabilities | $1.20B2016 | $1.93B2025 | +5.4%/yr | |
| Shareholders’ equity | $165.1M2016 | $207.9M2025 | +2.6%/yr | |
| Cash & short-term investments | $577.3M2016 | $676.4M2025 | +1.8%/yr | |
| Total debt | $71.3M2016 | $60.2M2025 | −1.9%/yr | |
| Net cash (debt) | $506.0M2016 | $616.3M2025 | +$110.3M | |
| Working capital | $243.0M2016 | $1.56B2025 | +$1.3B | |
| Book value per share | $17.732016 | $23.302025 | +3.1%/yr | |
| Debt / equity | 0.432016 | 0.292025 | −0.14 | |
| Shares outstanding | 9.3M2016 | 8.9M2025 | −0.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ATLO assets
ATLO liabilities and equity
ATLO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ATLO balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $676.4M | $302.2M | $800.4M | $829.0M | $937.1M | $788.5M | $623.4M | $515.4M | $567.8M | $577.3M |
| Cash & equivalents | $20.5M | $107.4M | $64.0M | $42.6M | $106.1M | $191.5M | $143.6M | $56.4M | $69.4M | $61.2M |
| Short-term investments | $656.0M | $194.8M | $736.4M | $786.4M | $831.0M | $597.0M | $479.8M | $459.0M | $498.3M | $516.1M |
| Receivables | $1.28B | $13.9M | $13.0M | $11.3M | $10.1M | $11.1M | $11.8M | $9.4M | $8.4M | $7.8M |
| Inventory | $0 | $0 | −$1.25B | −$53.8M | −$116.2M | −$202.9M | −$159.4M | $829,603 | $385,509 | $545,757 |
| Other current assets | $0 | $0 | $1.25B | $53.8M | $116.2M | $202.9M | $159.4M | $442.8M | $277.0M | $240.6M |
| Total current assets | $1.96B | $316.0M | $813.3M | $840.3M | $947.2M | $799.7M | $635.2M | $968.5M | $853.5M | $826.2M |
| Property, plant & equipment (net) | $20.9M | $21.6M | $22.5M | $18.9M | $17.5M | $17.3M | $17.8M | $15.8M | $15.4M | $16.0M |
| Goodwill & intangible assets | $13.2M | $13.5M | $13.9M | $14.4M | $14.9M | $15.6M | $16.1M | $12.3M | $7.8M | $8.1M |
| Long-term investments | $360.6M | $648.5M | $736.4M | $786.4M | $831.0M | $1.73B | $1.53B | $891.7M | $771.9M | $753.0M |
| Other non-current assets | $0 | $1.13B | $569.3M | $475.0M | $326.4M | $0 | $0 | $0 | $0 | $0 |
| Total assets | $2.13B | $2.13B | $2.16B | $2.13B | $2.14B | $1.98B | $1.74B | $1.46B | $1.38B | $1.37B |
| Liabilities | ||||||||||
| Accounts payable | $2.6M | $3.2M | $4.7M | $666,000 | $1.88B | $7.7M | $9.4M | $6.5M | $6.0M | $6.1M |
| Short-term debt | $38.8M | $52.4M | $54.0M | $40.7M | $39.9M | $37.3M | $42.0M | $53.3M | $61.9M | $58.3M |
| Deferred revenue | — | — | −$2.3M | −$666,000 | — | — | — | — | — | — |
| Total current liabilities | $395.1M | $1.90B | $1.87B | $1.94B | $1.92B | $1.76B | $1.54B | $652.4M | $614.2M | $583.2M |
| Long-term debt | $21.4M | $47.0M | $110.6M | $39.1M | $3.0M | $3.0M | $5.0M | $0 | $13.0M | $13.0M |
| Lease obligations | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Other long-term liabilities | $1.51B | $9.2M | $8.6M | $1.8M | $2.4M | $1.7M | $2.2M | $14.6M | $13.5M | $14.5M |
| Total liabilities | $1.93B | $1.96B | $1.99B | $1.99B | $1.93B | $1.77B | $1.55B | $1.28B | $1.20B | $1.20B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $17.7M | $17.9M | $18.0M | $18.0M | $18.2M | $18.2M | $18.4M | $18.6M | $18.6M | $18.6M |
| Retained earnings (deficit) | $196.0M | $182.2M | $180.4M | $179.9M | $170.4M | $158.2M | $146.2M | $137.9M | $131.7M | $126.2M |
| Treasury stock | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Accumulated other comprehensive income | −$17.9M | −$39.1M | −$46.9M | −$63.1M | $2.9M | $16.0M | $4.1M | −$4.1M | −$432,373 | −$576,687 |
| Minority interest | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Total shareholders' equity | $207.9M | $174.7M | $165.8M | $149.1M | $207.8M | $209.5M | $187.6M | $172.9M | $170.8M | $165.1M |
| Key figures | ||||||||||
| Total debt | $60.2M | $99.4M | $164.6M | $79.8M | $42.9M | $40.3M | $47.0M | $53.3M | $74.9M | $71.3M |
| Net cash (debt) | $616.3M | $202.8M | $635.8M | $749.2M | $894.2M | $748.2M | $576.4M | $462.1M | $492.8M | $506.0M |
| Working capital | $1.56B | −$1.59B | −$1.06B | −$1.10B | −$976.7M | −$961.8M | −$907.2M | $316.1M | $239.3M | $243.0M |
| Tangible book value | $194.7M | $161.2M | $151.9M | $134.7M | $192.8M | $193.9M | $171.5M | $160.6M | $162.9M | $157.0M |
| Book value per share | $23.30 | $19.43 | $18.44 | $16.51 | $22.80 | $22.90 | $20.31 | $18.57 | $18.33 | $17.73 |
| Shares outstanding | 8.9M | 9.0M | 9.0M | 9.0M | 9.1M | 9.1M | 9.2M | 9.3M | 9.3M | 9.3M |
| Current ratio | 4.95 | 0.17 | 0.43 | 0.43 | 0.49 | 0.45 | 0.41 | 1.48 | 1.39 | 1.42 |
| Quick ratio | 4.95 | 0.17 | 0.43 | 0.43 | 0.49 | 0.45 | 0.41 | 0.80 | 0.94 | 1.00 |
| Debt / equity | 0.29 | 0.57 | 0.99 | 0.54 | 0.21 | 0.19 | 0.25 | 0.31 | 0.44 | 0.43 |
| Equity / assets | 9.7% | 8.2% | 7.7% | 7.0% | 9.7% | 10.6% | 10.8% | 11.9% | 12.4% | 12.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & short-term investments | $807.7M | $710.3M | $676.4M | $315.9M | $746.8M | $809.0M | $302.2M | $753.7M | $760.7M | $842.3M | $800.4M |
| Cash & equivalents | $107.2M | $21.4M | $20.5M | $113.8M | $102.1M | $168.6M | $107.4M | $65.1M | $69.9M | $119.1M | $64.0M |
| Short-term investments | $700.4M | $688.8M | $656.0M | $202.1M | $644.7M | $640.4M | $194.8M | $688.6M | $690.8M | $723.2M | $736.4M |
| Receivables | $12.9M | $13.1M | $1.28B | $15.0M | $12.2M | $12.2M | $13.9M | $15.3M | $12.5M | $12.2M | $13.0M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$2.01B | −$1.34B | −$1.38B | $11.2M |
| Other current assets | $892,000 | $1.25B | $0 | $0 | $0 | $0 | $0 | $2.01B | $1.34B | $1.38B | $0 |
| Total current assets | $821.5M | $1.98B | $1.96B | $330.9M | $759.0M | $821.2M | $316.0M | $769.0M | $773.2M | $854.5M | $813.3M |
| Property, plant & equipment (net) | $21.0M | $21.0M | $20.9M | $21.0M | $21.2M | $21.4M | $21.6M | $21.9M | $22.1M | $22.3M | $22.5M |
| Goodwill & intangible assets | $13.1M | $13.1M | $13.2M | $13.3M | $13.4M | $13.4M | $13.5M | $13.6M | $13.7M | $13.8M | $13.9M |
| Long-term investments | $392.8M | $378.3M | $360.6M | $650.7M | $644.7M | $640.4M | $648.5M | $688.6M | $690.8M | $723.2M | $736.4M |
| Other non-current assets | $874.6M | $0 | $0 | $1.09B | $654.5M | $687.8M | $1.13B | $630.1M | $626.5M | $578.1M | $569.3M |
| Total assets | $2.12B | $2.14B | $2.13B | $2.11B | $2.09B | $2.18B | $2.13B | $2.12B | $2.13B | $2.19B | $2.16B |
| Liabilities | |||||||||||
| Accounts payable | $2.3M | $2.2M | $2.6M | $2.5M | $2.5M | $2.6M | $3.2M | $3.0M | $3.2M | $2.6M | $4.7M |
| Short-term debt | $47.4M | $36.7M | $38.8M | $40.6M | $40.1M | $45.8M | $52.4M | $42.8M | $40.7M | $53.0M | $54.0M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$763,000 | −$143,000 | −$2.3M |
| Total current liabilities | $1.90B | $36.7M | $395.1M | $1.88B | $1.86B | $1.95B | $1.90B | $1.85B | $1.86B | $1.93B | $1.87B |
| Long-term debt | $16.5M | $18.2M | $21.4M | $23.5M | $30.7M | $35.8M | $47.0M | $83.1M | $85.9M | $90.3M | $110.6M |
| Other long-term liabilities | $0 | $1.88B | $1.51B | $8.0M | $7.4M | $10.7M | $9.2M | $9.2M | $8.4M | $8.3M | $8.6M |
| Total liabilities | $1.91B | $1.93B | $1.93B | $1.91B | $1.90B | $2.00B | $1.96B | $1.94B | $1.96B | $2.03B | $1.99B |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | $17.7M | $17.7M | $17.7M | $17.8M | $17.8M | $17.8M | $17.9M | $18.0M | $18.0M | $18.0M | $18.0M |
| Retained earnings (deficit) | $203.7M | $199.8M | $196.0M | $191.2M | $188.4M | $183.9M | $182.2M | $180.5M | $180.1M | $180.3M | $180.4M |
| Accumulated other comprehensive income | −$20.4M | −$22.1M | −$17.9M | −$21.2M | −$26.1M | −$31.8M | −$39.1M | −$29.3M | −$45.3M | −$47.0M | −$46.9M |
| Total shareholders' equity | $213.1M | $207.6M | $207.9M | $200.6M | $193.0M | $183.1M | $174.7M | $183.4M | $167.1M | $165.5M | $165.8M |
| Key figures | |||||||||||
| Total debt | $47.4M | $54.9M | $60.2M | $64.1M | $70.7M | $81.6M | $99.4M | $125.9M | $126.6M | $143.3M | $164.6M |
| Net cash (debt) | $760.3M | $655.3M | $616.3M | $251.8M | $676.1M | $727.4M | $202.8M | $627.9M | $634.1M | $698.9M | $635.8M |
| Working capital | −$1.08B | $1.94B | $1.56B | −$1.55B | −$1.10B | −$1.13B | −$1.59B | −$1.08B | −$1.09B | −$1.07B | −$1.06B |
| Tangible book value | $200.0M | $194.4M | $194.7M | $187.3M | $179.7M | $169.6M | $161.2M | $169.8M | $153.4M | $151.8M | $151.9M |
| Book value per share | $24.06 | $23.26 | $23.30 | $22.49 | $21.65 | $20.53 | $19.52 | $20.39 | $18.58 | $18.41 | $18.44 |
| Shares outstanding | 8.9M | 8.9M | 8.9M | 8.9M | 8.9M | 8.9M | 8.9M | 9.0M | 9.0M | 9.0M | 9.0M |
| Current ratio | 0.43 | 53.78 | 4.95 | 0.18 | 0.41 | 0.42 | 0.17 | 0.42 | 0.41 | 0.44 | 0.43 |
| Quick ratio | 0.43 | 19.70 | 4.95 | 0.18 | 0.41 | 0.42 | 0.17 | 0.42 | 0.41 | 0.44 | 0.43 |
| Debt / equity | 0.22 | 0.26 | 0.29 | 0.32 | 0.37 | 0.45 | 0.57 | 0.69 | 0.76 | 0.87 | 0.99 |
| Equity / assets | 10.0% | 9.7% | 9.7% | 9.5% | 9.2% | 8.4% | 8.2% | 8.6% | 7.9% | 7.6% | 7.7% |
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.
ATLO financial position
At the end of fiscal 2025 (December 31, 2025), Ames National had total assets of $2.1 billion (up 0.0% from a year earlier), total liabilities of $1.9 billion and shareholders' equity of $207.9 million. It held $676.4 million in cash and short-term investments against $60.2 million of debt, a net cash position of $616.3 million. Its current ratio was 4.95. In the latest quarter (ended June 30, 2026) total assets were $2.1 billion and equity $213.1 million.
Related: ATLO income statement, ATLO cash flow statement, ATLO key metrics. See the ATLO stock overview for the latest quote and news.
ATLO balance sheet FAQ
What are Ames National's total assets?
Ames National reported total assets of $2.1 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.1 billion a year earlier.
How much debt does Ames National have?
Ames National had $60.2 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.29.
How much cash does Ames National have?
Ames National held $676.4 million in cash and short-term investments at the end of fiscal 2025; with $60.2 million of debt that is net cash of $616.3 million.
What is Ames National's book value?
Ames National's shareholders' equity (book value) was $207.9 million at the end of fiscal 2025, or $23.30 per share.
What is Ames National's current ratio?
Ames National had current assets of $2.0 billion and current liabilities of $395.1 million, a current ratio of 4.95 (it can cover its short-term obligations).
How much goodwill does Ames National have?
Ames National carried $13.2 million of goodwill and intangible assets, 0.6% of total assets, at the end of fiscal 2025.