BrightSpire Capital, Inc. (BRSP) Balance Sheet
BRSP balance sheet, 2025
December 31, 2025 · U.S. dollars$3.56B assets = $2.64B liabilities + $928.4M equity
Both columns are drawn to the same scale: what BRSP owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BRSP financial health
Descriptive bands, not a rating. Fiscal 2025.
BRSP balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.80B2016 | $3.56B2025 | +7.9%/yr | |
| Total liabilities | $566.6M2016 | $2.64B2025 | +18.6%/yr | |
| Shareholders’ equity | $1.24B2016 | $938.4M2025 | −3.0%/yr | |
| Cash & short-term investments | $14.0M2016 | $66.8M2025 | +19.0%/yr | |
| Total debt | $502.4M2016 | $2.49B2025 | +19.5%/yr | |
| Net cash (debt) | −$488.4M2016 | −$2.42B2025 | −$1.9B | |
| Working capital | $1.56B2016 | $2.68B2025 | +$1.1B | |
| Book value per share | $9.662016 | $7.402025 | −2.9%/yr | |
| Debt / equity | 0.412016 | 2.652025 | +2.25 | |
| Shares outstanding | 127.9M2016 | 126.9M2025 | −0.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BRSP assets
BRSP liabilities and equity
BRSP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BRSP balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $66.8M | $302.2M | $257.5M | $306.3M | $259.7M | $485.2M | $343.2M | $305.5M | $1.0M | $14.0M |
| Cash & equivalents | $66.8M | $302.2M | $257.5M | $306.3M | $259.7M | $474.8M | $69.6M | $77.3M | $1.0M | $14.0M |
| Short-term investments | — | — | $1 | $3.57B | $3.49B | $10.4M | $273.6M | $228.2M | — | — |
| Receivables | $2.65B | $2.41B | $41.5M | $40.7M | $3.53B | $2.25B | $2.64B | $48.8M | $1.30B | $1.52B |
| Inventory | $0 | $0 | −$5.6M | $16.8M | −$5.1M | −$14.7M | −$5.3M | −$5.6M | −$1.30B | $58.5M |
| Other current assets | $107.0M | $153.7M | $3.01B | $3.56B | $949.6M | $2.17B | $2.19B | $1.85B | $1.9M | $29.4M |
| Total current assets | $2.82B | $2.86B | $3.30B | $3.93B | $4.73B | $4.89B | $5.18B | $2.20B | $1.0M | $1.63B |
| Property, plant & equipment (net) | $19.8M | $23.2M | $22.1M | $25.2M | $25.0M | $22.1M | $25.5M | $1.96B | $219.7M | $8.9M |
| Goodwill & intangible assets | $27.6M | $47.2M | $46.5M | $41.2M | $65.0M | $92.9M | $141.5M | $166.3M | $11.0M | $0 |
| Long-term investments | $2.1M | $2.2M | $2.3M | $3.0M | $20.6M | $373.4M | $595.3M | $903.0M | $203.7M | $0 |
| Other non-current assets | $692.6M | $786.9M | $827.1M | $753.5M | $793.9M | $834.6M | $1.48B | $3.44B | $0 | $168.0M |
| Total assets | $3.56B | $3.72B | $4.20B | $4.75B | $5.64B | $6.21B | $7.41B | $8.66B | $10.6M | $1.80B |
| Liabilities | ||||||||||
| Accounts payable | $25.6M | $17.8M | $17.6M | $15.1M | $20.2M | $15.1M | $28.3M | $29.2M | $3.5M | $3.0M |
| Short-term debt | $59.3M | $206.1M | $917.0M | $424,000 | $905.1M | $535.2M | $1.10B | $193.2M | $3.5M | $3.0M |
| Deferred revenue | $9.7M | $7.9M | $7.2M | $7.7M | $7.7M | $9.1M | $16.7M | $10.5M | $481,000 | $1.7M |
| Total current liabilities | $144.6M | $157.8M | $174.9M | $79.2M | $170.8M | $119.1M | $191.8M | $1.17B | $42.2M | $64.2M |
| Long-term debt | $2.47B | $2.49B | $2.72B | $1.82B | $2.26B | $1.86B | $3.85B | $4.23B | $0 | $0 |
| Lease obligations | $20.7M | $24.1M | $22.9M | $26.0M | $25.2M | $22.2M | $25.5M | — | — | — |
| Other long-term liabilities | $22.0M | $28.4M | $28.9M | $1.37B | $1.71B | $2.28B | $1.17B | $1.40B | $389.7M | $502.4M |
| Total liabilities | $2.64B | $2.68B | $2.92B | $3.36B | $4.15B | $4.25B | $5.21B | $5.82B | $431.8M | $566.6M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1,000 | $1.23B |
| Retained earnings (deficit) | −$1.93B | −$1.81B | −$1.59B | −$1.47B | −$1.41B | −$1.23B | −$819.7M | −$193.3M | $258.8M | — |
| Accumulated other comprehensive income | $0 | −$6.3M | −$2.6M | −$676,000 | $8.8M | $54.6M | $28.3M | −$399,000 | −$6.0M | −$145,000 |
| Minority interest | −$10.0M | −$2.4M | $1.1M | $1.3M | $36.0M | $293.0M | — | — | — | — |
| Total shareholders' equity | $938.4M | $1.05B | $1.28B | $1.39B | $1.46B | $1.67B | $2.12B | $2.71B | −$421.2M | $1.24B |
| Key figures | ||||||||||
| Total debt | $2.49B | $2.52B | $3.66B | $3.19B | $4.87B | $4.66B | $6.08B | $5.59B | $389.7M | $502.4M |
| Net cash (debt) | −$2.42B | −$2.21B | −$3.40B | −$2.88B | −$4.61B | −$4.18B | −$5.73B | −$5.29B | −$388.7M | −$488.4M |
| Working capital | $2.68B | $2.71B | $3.13B | $3.85B | $4.56B | $4.77B | $4.98B | $1.02B | −$41.2M | $1.56B |
| Tangible book value | $910.8M | $1.00B | $1.23B | $1.35B | $1.39B | $1.57B | $1.98B | $2.54B | −$432.2M | $1.24B |
| Book value per share | $7.40 | $8.23 | $10.05 | $10.73 | $11.33 | $12.96 | $16.50 | $22.43 | −$3.29 | $9.66 |
| Shares outstanding | 126.9M | 127.4M | 127.1M | 129.3M | 128.5M | 128.5M | 128.4M | 120.7M | 127.9M | 127.9M |
| Current ratio | 19.52 | 18.15 | 18.87 | 49.61 | 27.72 | 41.06 | 26.99 | 1.87 | 0.02 | 25.31 |
| Quick ratio | 18.78 | 17.17 | 1.71 | 4.38 | 22.19 | 22.95 | 15.58 | 0.30 | 30.87 | 23.94 |
| Debt / equity | 2.65 | 2.40 | 2.86 | 2.30 | 3.35 | 2.80 | 2.87 | 2.07 | — | 0.41 |
| Equity / assets | 26.3% | 28.2% | 30.4% | 29.2% | 25.8% | 26.8% | 28.6% | 31.3% | −3,966.2% | 68.6% |
| 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 | $169.7M | $96.6M | $66.8M | $113.4M | $154.3M | $200.9M | $302.2M | $266.0M | $203.3M | $306.2M | $257.5M | $236.2M |
| Cash & equivalents | $169.7M | $96.6M | $66.8M | $113.4M | $154.3M | $200.9M | $302.2M | $263.8M | $203.3M | $306.2M | $257.5M | $236.2M |
| Short-term investments | — | — | — | — | — | — | — | $2.2M | — | $84.7M | — | — |
| Receivables | $51.4M | $2.71B | $2.65B | $2.29B | $2.32B | $2.36B | $2.41B | $2.53B | $2.64B | $40.9M | $41.5M | $76.4M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $524.4M | $0 | $1 | −$5.6M | $1 |
| Other current assets | $0 | $92.7M | $107.0M | $108.2M | $131.7M | $125.1M | $153.7M | $0 | $112.4M | $2.72B | $3.01B | $3.17B |
| Total current assets | $221.1M | $2.90B | $2.82B | $2.51B | $2.60B | $2.68B | $2.86B | $2.98B | $2.96B | $3.07B | $3.30B | $3.49B |
| Property, plant & equipment (net) | $12.5M | $19.0M | $19.8M | $20.7M | $21.6M | $22.3M | $23.2M | $24.1M | $24.9M | $25.7M | $22.1M | $22.9M |
| Goodwill & intangible assets | $4.3M | $28.1M | $27.6M | $35.6M | $35.5M | $46.6M | $47.2M | $49.6M | $50.5M | $42.8M | $46.5M | $47.0M |
| Long-term investments | $1.4M | $2.0M | $2.1M | $2.1M | $2.2M | $2.2M | $2.2M | $0 | $2.2M | $2.3M | $2.3M | $2.6M |
| Other non-current assets | $3.51B | $702.0M | $692.6M | $732.5M | $746.5M | $797.1M | $786.9M | $783.3M | $744.0M | $805.1M | $827.1M | $793.3M |
| Total assets | $3.75B | $3.65B | $3.56B | $3.30B | $3.41B | $3.55B | $3.72B | $3.84B | $3.78B | $3.95B | $4.20B | $4.35B |
| Liabilities | ||||||||||||
| Accounts payable | $24.8M | $21.3M | $25.6M | $28.2M | $25.7M | $16.4M | $17.8M | $18.2M | $13.0M | $9.8M | $17.6M | $16.4M |
| Short-term debt | $211.6M | $412.8M | $59.3M | $415.2M | $166.3M | $248.0M | $200.8M | $103.5M | $103.0M | $104.8M | $917.0M | $2.4M |
| Deferred revenue | — | $10.4M | $9.7M | $11.0M | $12.1M | $7.4M | $7.9M | $7.0M | $7.0M | $6.9M | $7.2M | $7.1M |
| Total current liabilities | $211.6M | $127.4M | $144.6M | $141.2M | $139.6M | $148.1M | $276.4M | $151.7M | $144.9M | $1.18B | $174.9M | $162.7M |
| Long-term debt | $2.55B | $2.59B | $2.47B | $2.17B | $2.26B | $2.34B | $2.49B | $1.97B | $1.90B | $1.55B | $2.72B | $1.64B |
| Lease obligations | $12.9M | $19.8M | $20.7M | $21.6M | $22.4M | $23.2M | $24.1M | $625.7M | $631.3M | $26.6M | $22.9M | $23.8M |
| Other long-term liabilities | $140.0M | $20.4M | $22.0M | $23.8M | $26.0M | $26.8M | $28.4M | $630.2M | $636.4M | $968.4M | $28.9M | $1.24B |
| Total liabilities | $2.90B | $2.74B | $2.64B | $2.34B | $2.42B | $2.52B | $2.68B | $2.75B | $2.68B | $2.76B | $2.92B | $3.04B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M |
| Retained earnings (deficit) | −$1.98B | −$1.94B | −$1.93B | −$1.89B | −$1.87B | −$1.83B | −$1.81B | −$1.77B | −$1.76B | −$1.67B | −$1.59B | −$1.54B |
| Accumulated other comprehensive income | — | $0 | $0 | — | — | −$4.5M | −$6.3M | −$4.7M | −$5.1M | −$6.2M | −$2.6M | −$5.2M |
| Minority interest | −$13.6M | −$11.7M | −$10.0M | −$8.4M | −$6.1M | — | — | — | — | — | — | — |
| Total shareholders' equity | $863.0M | $917.9M | $938.4M | $976.4M | $994.4M | $1.03B | $1.05B | $1.09B | $1.10B | $1.19B | $1.28B | $1.31B |
| Key figures | ||||||||||||
| Total debt | $2.76B | $2.61B | $2.49B | $2.19B | $2.28B | $2.37B | $2.52B | $2.60B | $2.53B | $2.60B | $3.65B | $2.87B |
| Net cash (debt) | −$2.59B | −$2.52B | −$2.42B | −$2.08B | −$2.12B | −$2.17B | −$2.21B | −$2.33B | −$2.33B | −$2.30B | −$3.39B | −$2.63B |
| Working capital | $9.5M | $2.77B | $2.68B | $2.37B | $2.46B | $2.53B | $2.59B | $2.83B | $2.81B | $1.89B | $3.13B | $3.32B |
| Tangible book value | $858.6M | $889.8M | $910.8M | $940.8M | $958.9M | $988.4M | $1.00B | $1.04B | $1.05B | $1.15B | $1.23B | $1.27B |
| Book value per share | $6.81 | $7.12 | $7.40 | $7.52 | $7.81 | $7.97 | $8.26 | $8.36 | $8.58 | $9.34 | $9.83 | $10.11 |
| Shares outstanding | 126.7M | 128.9M | 126.9M | 129.8M | 127.2M | 129.9M | 126.9M | 130.1M | 128.0M | 127.3M | 130.0M | 130.0M |
| Current ratio | 1.04 | 22.74 | 19.52 | 17.80 | 18.65 | 18.12 | 10.36 | 19.65 | 20.41 | 2.61 | 18.87 | 21.44 |
| Quick ratio | 1.04 | 22.02 | 18.78 | 17.04 | 17.71 | 17.27 | 9.80 | 18.44 | 19.63 | 0.29 | 1.71 | 1.92 |
| Debt / equity | 3.20 | 2.85 | 2.65 | 2.25 | 2.29 | 2.29 | 2.40 | 2.39 | 2.30 | 2.19 | 2.86 | 2.18 |
| Equity / assets | 23.0% | 25.2% | 26.3% | 29.5% | 29.2% | 29.1% | 28.2% | 28.3% | 29.1% | 30.1% | 30.4% | 30.2% |
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.
BRSP financial position
At the end of fiscal 2025 (December 31, 2025), BrightSpire Capital had total assets of $3.6 billion (down 4.3% from a year earlier), total liabilities of $2.6 billion and shareholders' equity of $938.4 million. It held $66.8 million in cash and short-term investments against $2.5 billion of debt, net debt of $2.4 billion. Its current ratio was 19.52. In the latest quarter (ended June 30, 2026) total assets were $3.7 billion and equity $863.0 million.
Related: BRSP income statement, BRSP cash flow statement, BRSP key metrics. See the BRSP stock overview for the latest quote and news.
BRSP balance sheet FAQ
What are BrightSpire Capital's total assets?
BrightSpire Capital reported total assets of $3.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $3.7 billion a year earlier.
How much debt does BrightSpire Capital have?
BrightSpire Capital had $2.5 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 2.65.
How much cash does BrightSpire Capital have?
BrightSpire Capital held $66.8 million in cash and short-term investments at the end of fiscal 2025; with $2.5 billion of debt that is net debt of $2.4 billion.
What is BrightSpire Capital's book value?
BrightSpire Capital's shareholders' equity (book value) was $938.4 million at the end of fiscal 2025, or $7.40 per share.
What is BrightSpire Capital's current ratio?
BrightSpire Capital had current assets of $2.8 billion and current liabilities of $144.6 million, a current ratio of 19.52 (it can cover its short-term obligations).
How much goodwill does BrightSpire Capital have?
BrightSpire Capital carried $27.6 million of goodwill and intangible assets, 0.8% of total assets, at the end of fiscal 2025.