Claros Mortgage Trust, Inc. (CMTG) Balance Sheet
CMTG balance sheet, 2025
December 31, 2025 · U.S. dollars$4.72B assets = $3.19B liabilities + $1.53B equity
Both columns are drawn to the same scale: what CMTG owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CMTG financial health
Descriptive bands, not a rating. Fiscal 2025.
CMTG balance sheet trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $3.87B2018 | $4.72B2025 | +2.9%/yr | |
| Total liabilities | $1.98B2018 | $3.19B2025 | +7.1%/yr | |
| Shareholders’ equity | $1.85B2018 | $1.53B2025 | −2.7%/yr | |
| Cash & short-term investments | $69.4M2018 | $173.2M2025 | +13.9%/yr | |
| Total debt | $1.43B2018 | $3.15B2025 | +11.9%/yr | |
| Net cash (debt) | −$1.37B2018 | −$2.97B2025 | −$1.6B | |
| Working capital | $2.37B2018 | $1.69B2025 | −$671.1M | |
| Book value per share | $13.152018 | $10.902025 | −2.6%/yr | |
| Current ratio | 2.582018 | 1.802025 | −0.78 | |
| Debt / equity | 0.772018 | 2.052025 | +1.28 | |
| Shares outstanding | 140.9M2018 | 140.6M2025 | −0.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CMTG assets
CMTG liabilities and equity
CMTG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CMTG balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | $173.2M | $99.1M | $187.3M | $7.80B | $310.2M | $427.5M | $335.0M | $69.4M |
| Cash & equivalents | $173.2M | $99.1M | $187.3M | $306.5M | $310.2M | $427.5M | $335.0M | $69.4M |
| Short-term investments | — | — | $900,000 | $7.49B | $6.41B | — | — | — |
| Receivables | $3.62B | $5.95B | $7.15B | $7.36B | $26.0M | $6.48B | $6.16B | $3.77B |
| Inventory | $0 | $0 | $214.9M | −$6.0M | $6.99B | $6.93B | $6.54B | −$3.87B |
| Other current assets | $17.6M | $618.5M | $0 | $0 | $0 | $0 | $0 | $3.90B |
| Total current assets | $3.81B | $6.66B | $187.3M | $7.80B | $336.2M | $6.94B | $6.54B | $3.86B |
| Property, plant & equipment (net) | $730.0M | $127.1M | $523.0M | $401.2M | $406.9M | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $20.4M | $23.0M | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $42.2M | $42.3M | $42.5M | $7.80B | $6.75B | $338.3M | $222.9M | $0 |
| Other non-current assets | $143.4M | $112.2M | $7.29B | $0 | $0 | $0 | $0 | $11.4M |
| Total assets | $4.72B | $6.97B | $8.07B | $8.24B | $7.46B | $6.95B | $6.55B | $3.87B |
| Liabilities | ||||||||
| Accounts payable | — | — | — | $9.9M | $54.5M | $3.7M | $5.9M | $4.6M |
| Short-term debt | $2.11B | $274.6M | $2.17B | $1.71B | $863.8M | $1.04B | $839.8M | $1.43B |
| Deferred revenue | — | — | — | — | −$809.4M | −$1.21B | −$824.5M | −$2.11B |
| Total current liabilities | $2.11B | $304.7M | $2.17B | $1.50B | $54.5M | $1.23B | $925.6M | $1.50B |
| Long-term debt | $1.29B | $1.70B | $1.87B | $886.4M | $787.8M | $1.57B | $1.07B | $0 |
| Other long-term liabilities | $0 | $2.96B | $0 | $4.90B | $457.6M | $1.67B | $2.12B | $477.1M |
| Total liabilities | $3.19B | $4.96B | $5.77B | $5.79B | $4.85B | $4.47B | $4.12B | $1.98B |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.3M | $2.4M | $1.9M |
| Retained earnings (deficit) | −$1.22B | −$733.3M | −$426.7M | −$257.2M | −$161.0M | −$47.5M | −$34.3M | −$7.3M |
| Treasury stock | — | — | — | — | −$3.6M | — | — | — |
| Accumulated other comprehensive income | — | $0 | $0 | $0 | $0 | $0 | $0 | $1.90B |
| Minority interest | — | — | — | $0 | $37.6M | — | — | — |
| Total shareholders' equity | $1.53B | $2.01B | $2.30B | $2.46B | $2.60B | $2.45B | $2.38B | $1.85B |
| Key figures | ||||||||
| Total debt | $3.15B | $4.89B | $1.87B | $2.59B | $1.65B | $3.73B | $3.41B | $1.43B |
| Net cash (debt) | −$2.97B | −$4.79B | −$1.68B | $5.20B | −$1.34B | −$3.31B | −$3.08B | −$1.37B |
| Working capital | $1.69B | $6.36B | −$1.98B | $6.29B | $281.7M | $5.71B | $5.61B | $2.37B |
| Tangible book value | $1.53B | $1.99B | $2.28B | $2.46B | $2.60B | $2.45B | $2.38B | $1.85B |
| Book value per share | $10.90 | $14.42 | $16.58 | $17.63 | $19.36 | $17.36 | $16.93 | $13.15 |
| Shares outstanding | 140.6M | 139.2M | 138.7M | 139.3M | 134.5M | 140.9M | 140.9M | 140.9M |
| Current ratio | 1.80 | 21.87 | 0.09 | 5.19 | 6.17 | 5.64 | 7.06 | 2.58 |
| Quick ratio | 1.79 | 19.84 | 3.39 | 10.08 | 6.17 | 5.60 | 7.02 | 2.56 |
| Debt / equity | 2.05 | 2.43 | 0.81 | 1.05 | 0.63 | 1.53 | 1.43 | 0.77 |
| Equity / assets | 32.4% | 28.8% | 28.5% | 29.8% | 34.9% | 35.2% | 36.4% | 47.8% |
| 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 | $90.3M | $116.8M | $173.2M | $339.5M | $209.2M | $127.8M | $99.1M | $144.4M | $148.5M | $232.9M | $187.3M | $307.4M |
| Cash & equivalents | $90.3M | $116.8M | $173.2M | $339.5M | $209.2M | $127.8M | $99.1M | $144.4M | $148.5M | $232.9M | $187.3M | $307.4M |
| Short-term investments | — | — | — | — | — | — | — | — | $300,000 | $400,000 | $900,000 | $2.7M |
| Receivables | $2.79B | $3.11B | $0 | $4.24B | $4.88B | $5.74B | $5.95B | $6.47B | $6.71B | $6.64B | $7.15B | $7.01B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $251.8M | $214.9M | −$2.7M |
| Other current assets | $11.9M | $0 | $17.6M | $0 | $0 | $0 | $618.5M | $0 | $21.2M | $0 | $0 | $0 |
| Total current assets | $2.89B | $130.4M | $190.8M | $356.3M | $227.9M | $148.9M | $6.66B | $144.4M | $6.88B | $7.06B | $187.3M | $307.4M |
| Property, plant & equipment (net) | $0 | $764.8M | $0 | $0 | $218.5M | $126.9M | $127.1M | $516.4M | $518.7M | $521.0M | $523.0M | $520.5M |
| Goodwill & intangible assets | $1.3M | $0 | $0 | $0 | $21.6M | $19.8M | $20.4M | $0 | $0 | $0 | $23.0M | $0 |
| Long-term investments | $42.1M | $42.2M | $42.2M | $42.2M | $42.3M | $42.3M | $42.3M | $42.4M | $42.4M | $42.4M | $42.5M | $42.5M |
| Other non-current assets | $899.4M | $3.23B | $4.49B | $5.04B | $5.31B | $6.32B | $112.2M | $6.60B | $144.2M | $132.7M | $7.29B | $7.18B |
| Total assets | $3.84B | $4.16B | $4.72B | $5.44B | $5.82B | $6.66B | $6.97B | $7.31B | $7.58B | $7.76B | $8.07B | $8.05B |
| Liabilities | ||||||||||||
| Short-term debt | $1.43B | $1.59B | $1.86B | $2.18B | $2.44B | $3.04B | $274.6M | $1.70B | $827.8M | $277.6M | $2.17B | $2.47B |
| Total current liabilities | $1.43B | $1.60B | $1.87B | $2.19B | $2.45B | $3.05B | $304.7M | $1.74B | $974.1M | $423.7M | $2.17B | $464.0M |
| Long-term debt | $1.03B | $1.04B | $1.29B | $1.46B | $1.58B | $1.64B | $1.70B | $1.68B | $1.70B | $1.85B | $1.87B | $1.84B |
| Other long-term liabilities | $137.6M | $34.7M | $37.1M | $39.1M | $38.4M | $37.4M | $2.96B | $41.2M | $2.73B | $3.27B | $0 | $0 |
| Total liabilities | $2.60B | $2.67B | $3.19B | $3.69B | $4.07B | $4.72B | $4.96B | $5.20B | $5.41B | $5.54B | $5.77B | $5.75B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M |
| Retained earnings (deficit) | −$1.53B | −$1.28B | −$1.22B | −$1.00B | −$993.7M | −$811.9M | −$733.3M | −$632.6M | −$562.2M | −$515.1M | −$426.7M | −$425.4M |
| Accumulated other comprehensive income | — | — | — | — | — | $0 | $0 | — | $0 | $0 | $0 | $0 |
| Total shareholders' equity | $1.24B | $1.49B | $1.53B | $1.75B | $1.76B | $1.93B | $2.01B | $2.10B | $2.17B | $2.22B | $2.30B | $2.30B |
| Key figures | ||||||||||||
| Total debt | $2.57B | $2.63B | $3.15B | $3.65B | $4.02B | $4.68B | $4.89B | $5.13B | $5.22B | $5.35B | $1.87B | $1.84B |
| Net cash (debt) | −$2.48B | −$2.51B | −$2.97B | −$3.31B | −$3.81B | −$4.55B | −$4.79B | −$4.99B | −$5.08B | −$5.12B | −$1.68B | −$1.53B |
| Working capital | $1.46B | −$1.47B | −$1.67B | −$1.84B | −$2.22B | −$2.90B | $6.36B | −$1.59B | $5.91B | $6.64B | −$1.98B | −$156.6M |
| Tangible book value | $1.24B | $1.49B | $1.53B | $1.75B | $1.74B | $1.91B | $1.99B | $2.10B | $2.17B | $2.22B | $2.28B | $2.30B |
| Book value per share | $8.75 | $10.62 | $10.90 | $12.44 | $12.54 | $13.87 | $14.42 | $15.08 | $15.61 | $15.97 | $16.58 | $16.56 |
| Shares outstanding | 141.4M | 140.6M | 140.6M | 140.6M | 140.1M | 139.5M | 139.2M | 139.6M | 139.1M | 138.8M | 138.7M | 138.7M |
| Current ratio | 2.02 | 0.08 | 0.10 | 0.16 | 0.09 | 0.05 | 21.87 | 0.08 | 7.06 | 16.66 | 0.09 | 0.66 |
| Quick ratio | 2.01 | 2.01 | 0.09 | 2.09 | 2.08 | 1.93 | 19.84 | 3.81 | 7.04 | 16.21 | 3.39 | 15.78 |
| Debt / equity | 2.07 | 1.76 | 2.05 | 2.08 | 2.29 | 2.42 | 2.43 | 2.44 | 2.41 | 2.41 | 0.81 | 0.80 |
| Equity / assets | 32.3% | 35.8% | 32.4% | 32.1% | 30.2% | 29.1% | 28.8% | 28.8% | 28.6% | 28.6% | 28.5% | 28.5% |
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.
CMTG financial position
At the end of fiscal 2025 (December 31, 2025), Claros Mortgage had total assets of $4.7 billion (down 32.2% from a year earlier), total liabilities of $3.2 billion and shareholders' equity of $1.5 billion. It held $173.2 million in cash and short-term investments against $3.1 billion of debt, net debt of $3.0 billion. Its current ratio was 1.80. In the latest quarter (ended June 30, 2026) total assets were $3.8 billion and equity $1.2 billion.
Related: CMTG income statement, CMTG cash flow statement, CMTG key metrics. See the CMTG stock overview for the latest quote and news.
CMTG balance sheet FAQ
What are Claros Mortgage's total assets?
Claros Mortgage reported total assets of $4.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $7.0 billion a year earlier.
How much debt does Claros Mortgage have?
Claros Mortgage had $3.1 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 2.05.
How much cash does Claros Mortgage have?
Claros Mortgage held $173.2 million in cash and short-term investments at the end of fiscal 2025; with $3.1 billion of debt that is net debt of $3.0 billion.
What is Claros Mortgage's book value?
Claros Mortgage's shareholders' equity (book value) was $1.5 billion at the end of fiscal 2025, or $10.90 per share.
What is Claros Mortgage's current ratio?
Claros Mortgage had current assets of $3.8 billion and current liabilities of $2.1 billion, a current ratio of 1.80 (it can cover its short-term obligations).