Better Home & Finance Holding Company (BETR) Balance Sheet
BETR balance sheet, 2025
December 31, 2025 · U.S. dollars$1.51B assets = $1.47B liabilities + $37.2M equity
Both columns are drawn to the same scale: what BETR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BETR financial health
Descriptive bands, not a rating. Fiscal 2025.
BETR balance sheet trends, 2015–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $360.8M2015 | $1.51B2025 | +26.9%/yr | |
| Total liabilities | $345.4M2015 | $1.47B2025 | +27.3%/yr | |
| Shareholders’ equity | $15.4M2015 | $37.2M2025 | +15.8%/yr | |
| Cash & short-term investments | $18.8M2015 | $220.2M2025 | +50.8%/yr | |
| Total debt | $16.5M2015 | $615.3M2025 | +82.8%/yr | |
| Net cash (debt) | $2.2M2015 | −$395.1M2025 | −$397.3M | |
| Working capital | −$20.5M2015 | −$175.2M2025 | −$154.7M | |
| Book value per share | −$3.852024 | $2.422025 | — | |
| Current ratio | 0.652015 | 0.582025 | −0.08 | |
| Debt / equity | 1.072015 | 16.552025 | +15.48 | |
| Shares outstanding | 15.1M2024 | 15.3M2025 | +1.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BETR assets
BETR liabilities and equity
BETR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BETR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $220.2M | $264.9M | $529.2M | $318.0M | $938.3M | $10.3M | $18.8M |
| Cash & equivalents | $116.6M | $211.1M | $503.6M | $318.0M | $938.3M | $10.3M | $18.8M |
| Short-term investments | $103.6M | $53.8M | $25.6M | $0 | — | — | — |
| Receivables | $21.1M | $32.2M | $35.3M | $300.6M | $502,956 | $42.9M | $12.0M |
| Inventory | $0 | $501.6M | $135.6M | $1.1M | $1.1M | $18.2M | $6.8M |
| Other current assets | $0 | $63.2M | $92.0M | $74.5M | $2.15B | $7.8M | $1.3M |
| Total current assets | $241.3M | $861.9M | $792.1M | $694.2M | $3.09B | $79.2M | $38.9M |
| Property, plant & equipment (net) | $6.6M | $4.1M | $36.4M | $70.2M | $97.9M | $45.9M | $2.2M |
| Goodwill & intangible assets | $33.0M | $44.6M | $70.5M | $79.4M | $92.3M | $711.9M | $316.9M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.22B | $2.5M | $6.5M | $239.7M | $23.6M | $1.2M | $2.9M |
| Total assets | $1.51B | $913.1M | $905.6M | $1.08B | $3.30B | $838.2M | $360.8M |
| Liabilities | |||||||
| Accounts payable | $74.6M | $48.1M | $66.6M | $82.4M | $133.3M | $32.6M | $9.3M |
| Short-term debt | $411.9M | $244.1M | $126.2M | $144.0M | $1.67B | $991,000 | $12.8M |
| Deferred revenue | $763.0M | $137.2M | $12.1M | $30.2M | $50.0M | — | $437,000 |
| Total current liabilities | $416.5M | $435.6M | $208.3M | $264.7M | $2.34B | $60.0M | $59.3M |
| Long-term debt | $198.8M | $519.7M | $514.6M | $144.4M | $149.0M | $0 | $0 |
| Lease obligations | $4.6M | $4.1M | $31.2M | $60.0M | $73.7M | — | — |
| Other long-term liabilities | $853.0M | $15.9M | $60.0M | $842.2M | $134.2M | $726.5M | $286.0M |
| Total liabilities | $1.47B | $971.2M | $783.0M | $1.25B | $2.62B | $786.5M | $345.4M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $2,000 | $2,000 | $74,000 | $10,000 | $10,000 | $8,000 | $0 |
| Retained earnings (deficit) | −$2.08B | −$1.91B | −$1.70B | −$1.17B | −$292.6M | $41.9M | $14.6M |
| Accumulated other comprehensive income | $3.7M | −$1.9M | −$1.7M | −$1.4M | −$105,000 | −$31.5M | — |
| Total shareholders' equity | $37.2M | −$58.2M | $122.6M | −$167.9M | $676.4M | $51.7M | $15.4M |
| Key figures | |||||||
| Total debt | $615.3M | $767.9M | $672.1M | $1.10B | $2.37B | $7.7M | $16.5M |
| Net cash (debt) | −$395.1M | −$503.0M | −$142.9M | −$778.0M | −$1.43B | $2.7M | $2.2M |
| Working capital | −$175.2M | $426.3M | $583.8M | $429.5M | $745.9M | $19.2M | −$20.5M |
| Tangible book value | $4.2M | −$102.7M | $52.1M | −$247.3M | $584.1M | −$660.2M | −$301.5M |
| Book value per share | $2.42 | −$3.85 | — | — | — | — | — |
| Shares outstanding | 15.3M | 15.1M | — | — | — | — | — |
| Current ratio | 0.58 | 1.98 | 3.80 | 2.62 | 1.32 | 1.32 | 0.65 |
| Quick ratio | 0.58 | 0.68 | 2.71 | 2.34 | 0.40 | 0.89 | 0.52 |
| Debt / equity | 16.55 | — | 5.48 | — | 3.50 | 0.15 | 1.07 |
| Equity / assets | 2.5% | −6.4% | 13.5% | −15.5% | 20.5% | 6.2% | 4.3% |
| 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 | $111.9M | $73.7M | $220.2M | $218.3M | $221.5M | $228.0M | $264.9M | $262.1M | $378.8M | $482.6M | $529.2M | $556.6M |
| Cash & equivalents | $111.9M | $73.7M | $116.6M | $86.4M | $87.1M | $110.6M | $211.1M | $207.7M | $320.9M | $424.5M | $503.6M | $526.8M |
| Short-term investments | — | — | $103.6M | $131.9M | $134.4M | $117.4M | $53.8M | $54.4M | $57.8M | $58.1M | $25.6M | $29.8M |
| Receivables | $18.2M | $22.8M | $21.1M | $46.5M | $40.3M | $42.5M | $32.2M | $33.6M | $420.5M | $30.9M | $35.3M | $184.4M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $501.6M | $0 | $355.1M | $605.0M | $656.5M | $685.1M |
| Other current assets | $0 | $0 | $0 | $0 | $912.0M | $678.1M | $63.2M | $470.7M | $0 | $0 | $0 | $0 |
| Total current assets | $130.1M | $96.5M | $241.3M | $264.9M | $1.17B | $948.7M | $861.9M | $766.3M | $861.0M | $742.1M | $792.1M | $811.1M |
| Property, plant & equipment (net) | $6.4M | $6.4M | $6.6M | $6.5M | $6.7M | $7.9M | $4.1M | $16.3M | $33.9M | $34.7M | $36.4M | $41.4M |
| Goodwill & intangible assets | $28.5M | $29.0M | $33.0M | $46.0M | $46.0M | $44.5M | $44.6M | $58.1M | $58.2M | $63.1M | $70.5M | $80.9M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.38B | $1.44B | $1.22B | $1.08B | $5.2M | $4.0M | $2.5M | $4.4M | $4.7M | $1.7M | $6.5M | $3.7M |
| Total assets | $1.54B | $1.57B | $1.51B | $1.39B | $1.23B | $1.00B | $913.1M | $845.2M | $957.9M | $841.6M | $905.6M | $937.1M |
| Liabilities | ||||||||||||
| Accounts payable | $50.1M | $60.4M | $74.6M | $74.3M | $63.8M | $58.9M | $48.1M | $68.6M | $62.3M | $55.7M | $66.6M | $103.4M |
| Short-term debt | $454.3M | $507.6M | $411.9M | $354.9M | $571.6M | $236.0M | $244.1M | $134.5M | $247.4M | $126.2M | $126.2M | $73.5M |
| Deferred revenue | — | — | — | — | $482.4M | $261.1M | $137.2M | $97.8M | $36.6M | $11.8M | $12.1M | $9.9M |
| Total current liabilities | $458.9M | $512.0M | $416.5M | $354.9M | $1.13B | $562.4M | $435.6M | $305.6M | $350.3M | $197.5M | $208.3M | $190.5M |
| Long-term debt | $198.8M | $198.8M | $198.8M | $198.8M | $200.4M | $521.4M | $519.7M | $518.0M | $516.4M | $514.8M | $514.6M | $513.0M |
| Lease obligations | $4.6M | $4.4M | $4.6M | $5.1M | $6.0M | $7.5M | $4.1M | $4.8M | $27.2M | $29.2M | $31.2M | $33.3M |
| Other long-term liabilities | $826.7M | $849.5M | $853.0M | $788.5M | $0 | $23.3M | $15.9M | $21.2M | $46.3M | $53.1M | $60.0M | $76.3M |
| Total liabilities | $1.48B | $1.56B | $1.47B | $1.34B | $1.16B | $1.11B | $971.2M | $844.8M | $913.0M | $765.3M | $783.0M | $779.8M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $75,000 | $75,000 | $74,000 | $74,000 |
| Retained earnings (deficit) | −$2.18B | −$2.15B | −$2.08B | −$2.04B | −$2.00B | −$1.96B | −$1.91B | −$1.85B | −$1.80B | −$1.76B | −$1.70B | −$1.66B |
| Accumulated other comprehensive income | $2.1M | $2.0M | $3.7M | $3.9M | $5.6M | $287,000 | −$1.9M | $2.6M | −$1.4M | −$2.0M | −$1.7M | −$2.4M |
| Total shareholders' equity | $57.9M | $8.6M | $37.2M | $51.1M | $76.6M | −$102.1M | −$58.2M | $388,000 | $44.9M | $76.3M | $122.6M | $157.2M |
| Key figures | ||||||||||||
| Total debt | $657.7M | $710.8M | $615.3M | $553.7M | $577.6M | $764.9M | $767.9M | $657.3M | $790.9M | $670.1M | $672.1M | $619.8M |
| Net cash (debt) | −$545.8M | −$637.1M | −$395.1M | −$335.4M | −$356.1M | −$536.9M | −$503.0M | −$395.2M | −$412.2M | −$187.5M | −$142.9M | −$63.2M |
| Working capital | −$328.8M | −$415.5M | −$175.2M | −$90.0M | $48.8M | $386.2M | $426.3M | $460.8M | $510.7M | $544.6M | $583.8M | $620.6M |
| Tangible book value | $29.4M | −$20.4M | $4.2M | $5.0M | $30.5M | −$146.6M | −$102.7M | −$57.7M | −$13.3M | $13.2M | $52.1M | $76.3M |
| Book value per share | $3.10 | $0.52 | $2.37 | $3.35 | $5.04 | −$6.73 | −$3.83 | $0.03 | — | — | — | — |
| Shares outstanding | 18.7M | 16.4M | 15.7M | 15.3M | 15.2M | 15.2M | 15.2M | 15.1M | — | — | — | — |
| Current ratio | 0.28 | 0.19 | 0.58 | 0.75 | 1.04 | 1.69 | 1.98 | 2.51 | 2.46 | 3.76 | 3.80 | 4.26 |
| Quick ratio | 0.28 | 0.19 | 0.58 | 0.75 | 0.23 | 0.48 | 0.68 | 0.97 | 2.28 | 2.60 | 2.71 | 3.89 |
| Debt / equity | 11.36 | 83.10 | 16.55 | 10.84 | 7.55 | — | — | 1,694.12 | 17.61 | 8.78 | 5.48 | 3.94 |
| Equity / assets | 3.8% | 0.5% | 2.5% | 3.7% | 6.2% | −10.2% | −6.4% | 0.0% | 4.7% | 9.1% | 13.5% | 16.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
BETR financial position
At the end of fiscal 2025 (December 31, 2025), Better Home & Finance had total assets of $1.5 billion (up 64.9% from a year earlier), total liabilities of $1.5 billion and shareholders' equity of $37.2 million. It held $220.2 million in cash and short-term investments against $615.3 million of debt, net debt of $395.1 million. Its current ratio was 0.58. In the latest quarter (ended June 30, 2026) total assets were $1.5 billion and equity $57.9 million.
Related: BETR income statement, BETR cash flow statement, BETR key metrics. See the BETR stock overview for the latest quote and news.
BETR balance sheet FAQ
What are Better Home & Finance's total assets?
Better Home & Finance reported total assets of $1.5 billion at the end of fiscal 2025 (December 31, 2025), compared with $913.1 million a year earlier.
How much debt does Better Home & Finance have?
Better Home & Finance had $615.3 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 16.55.
How much cash does Better Home & Finance have?
Better Home & Finance held $220.2 million in cash and short-term investments at the end of fiscal 2025; with $615.3 million of debt that is net debt of $395.1 million.
What is Better Home & Finance's book value?
Better Home & Finance's shareholders' equity (book value) was $37.2 million at the end of fiscal 2025, or $2.42 per share.
What is Better Home & Finance's current ratio?
Better Home & Finance had current assets of $241.3 million and current liabilities of $416.5 million, a current ratio of 0.58 (current liabilities exceed current assets).
How much goodwill does Better Home & Finance have?
Better Home & Finance carried $33.0 million of goodwill and intangible assets, 2.2% of total assets, at the end of fiscal 2025.