Flagstar Financial, Inc. (FLG) Balance Sheet
FLG balance sheet, 2025
December 31, 2025 · U.S. dollars$87.51B assets = $79.37B liabilities + $8.14B equity
Both columns are drawn to the same scale: what FLG owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FLG financial health
Descriptive bands, not a rating. Fiscal 2025.
FLG balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $48.93B2016 | $87.51B2025 | +6.7%/yr | |
| Total liabilities | $42.80B2016 | $79.37B2025 | +7.1%/yr | |
| Shareholders’ equity | $6.12B2016 | $8.14B2025 | +3.2%/yr | |
| Cash & short-term investments | $662.1M2016 | $16.25B2025 | +42.7%/yr | |
| Total debt | $13.67B2016 | $12.18B2025 | −1.3%/yr | |
| Net cash (debt) | −$13.01B2016 | $4.07B2025 | +$17.1B | |
| Working capital | −$29.07B2016 | −$14.04B2025 | +$15.0B | |
| Book value per share | $37.872016 | $19.612025 | −7.1%/yr | |
| Debt / equity | 2.232016 | 1.502025 | −0.74 | |
| Shares outstanding | 161.7M2016 | 415.3M2025 | +11.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FLG assets
FLG liabilities and equity
FLG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FLG balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $16.25B | $25.83B | $20.62B | $10.66B | $6.82B | $6.48B | $5.22B | $5.86B | $4.80B | $662.1M |
| Cash & equivalents | $553.0M | $15.43B | $11.47B | $2.03B | $2.21B | $1.95B | $741.9M | $1.47B | $2.53B | $557.9M |
| Short-term investments | $15.70B | $10.40B | $9.14B | $8.63B | $4.61B | $4.54B | $4.48B | $4.38B | $2.27B | $104.3M |
| Receivables | $300.0M | $2.12B | $3.19B | $1.68B | $1.80B | $1.74B | $1.27B | $683.1M | $662.6M | $802.9M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $16.25B | $27.95B | $23.81B | $12.34B | $8.62B | $8.22B | $6.49B | $6.54B | $5.46B | $1.47B |
| Property, plant & equipment (net) | $477.0M | $562.0M | $652.0M | $491.0M | $270.0M | $554.0M | $598.8M | $346.2M | $368.7M | $373.7M |
| Goodwill & intangible assets | $381.0M | $514.0M | $1.74B | $3.75B | $2.43B | $2.43B | $2.43B | $2.44B | $2.44B | $2.67B |
| Long-term investments | $15.77B | $10.42B | $9.16B | $8.64B | $4.63B | $4.57B | $0 | $0 | $0 | $0 |
| Other non-current assets | $54.63B | $60.72B | $78.70B | $64.93B | $43.58B | $40.54B | $44.12B | $42.57B | $40.85B | $44.42B |
| Total assets | $87.51B | $100.16B | $114.06B | $90.14B | $59.53B | $56.31B | $53.64B | $51.90B | $49.12B | $48.93B |
| Liabilities | ||||||||||
| Accounts payable | $39.0M | $51.0M | — | — | $18.0M | $19.0M | — | — | — | — |
| Short-term debt | — | $3.75B | $7.35B | $10.32B | $4.55B | $800.0M | $800.0M | $500.0M | $450.0M | $1.65B |
| Total current liabilities | $30.29B | $79.62B | $88.88B | $69.05B | $39.63B | $33.26B | $32.46B | $31.26B | $29.55B | $30.54B |
| Long-term debt | $12.18B | $1.03B | $1.02B | $1.01B | $15.76B | $15.28B | $0 | $0 | $0 | $0 |
| Lease obligations | — | — | — | — | $249.0M | $267.0M | — | — | — | — |
| Other long-term liabilities | $36.89B | $11.35B | $15.80B | $11.27B | $0 | $924.0M | $14.47B | $13.98B | $12.78B | $12.26B |
| Total liabilities | $79.37B | $91.99B | $105.69B | $81.32B | $52.48B | $49.46B | $46.93B | $45.24B | $42.33B | $42.80B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $4.0M | $4.0M | $2.0M | $7.0M | $5.0M | $5.0M | $4.9M | $4.9M | $4.9M | $4.9M |
| Retained earnings (deficit) | −$988.0M | −$763.0M | $443.0M | $1.04B | $741.0M | $494.0M | $342.0M | $297.2M | $237.9M | $128.4M |
| Accumulated other comprehensive income | −$489.0M | −$640.0M | −$599.0M | −$620.0M | −$85.0M | −$25.0M | −$32.8M | −$87.7M | −$15.2M | −$56.7M |
| Total shareholders' equity | $8.14B | $8.17B | $8.37B | $8.82B | $7.04B | $6.84B | $6.71B | $6.66B | $6.80B | $6.12B |
| Key figures | ||||||||||
| Total debt | $12.18B | $14.43B | $28.62B | $31.66B | $20.56B | $16.35B | $14.84B | $14.21B | $12.91B | $13.67B |
| Net cash (debt) | $4.07B | $11.41B | −$8.00B | −$21.00B | −$13.74B | −$9.87B | −$9.62B | −$8.35B | −$8.12B | −$13.01B |
| Working capital | −$14.04B | −$51.67B | −$65.07B | −$56.71B | −$31.01B | −$25.04B | −$25.96B | −$24.72B | −$24.09B | −$29.07B |
| Tangible book value | $7.76B | $7.65B | $6.63B | $5.08B | $4.62B | $4.42B | $4.29B | $4.22B | $4.35B | $3.45B |
| Book value per share | $19.61 | $24.70 | $35.17 | $54.57 | $45.54 | $44.31 | $43.24 | $40.97 | $41.85 | $37.87 |
| Shares outstanding | 415.3M | 330.7M | 237.9M | 161.7M | 154.7M | 154.4M | 155.2M | 162.4M | 162.4M | 161.7M |
| Current ratio | 0.54 | 0.35 | 0.27 | 0.18 | 0.22 | 0.25 | 0.20 | 0.21 | 0.18 | 0.05 |
| Quick ratio | 0.55 | 0.35 | 0.27 | 0.18 | 0.22 | 0.25 | 0.20 | 0.21 | 0.18 | 0.05 |
| Debt / equity | 1.50 | 1.77 | 3.42 | 3.59 | 2.92 | 2.39 | 2.21 | 2.13 | 1.90 | 2.23 |
| Equity / assets | 9.3% | 8.2% | 7.3% | 9.8% | 11.8% | 12.2% | 12.5% | 12.8% | 13.8% | 12.5% |
| 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 | $16.97B | $401.0M | $16.25B | $8.48B | $8.10B | $25.44B | $25.83B | $23.36B | $20.12B | $13.54B | $20.62B | $14.27B |
| Cash & equivalents | $416.0M | $401.0M | $553.0M | $8.48B | $8.09B | $12.61B | $15.43B | $23.08B | $18.99B | $12.89B | $11.47B | $6.93B |
| Short-term investments | $16.55B | $0 | $15.70B | $1.0M | $1.0M | $12.83B | $10.40B | $275.0M | $1.13B | $653.0M | $9.14B | $7.34B |
| Receivables | $0 | $0 | $300.0M | $0 | $0 | $2.06B | $2.12B | $2.43B | $2.73B | $2.99B | $3.19B | $3.15B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $16.97B | $401.0M | $16.25B | $8.48B | $8.10B | $27.50B | $27.95B | $25.78B | $22.85B | $16.53B | $23.81B | $17.42B |
| Property, plant & equipment (net) | $472.0M | $474.0M | $477.0M | $464.0M | $474.0M | $486.0M | $562.0M | $649.0M | $691.0M | $679.0M | $652.0M | $638.0M |
| Goodwill & intangible assets | $333.0M | $356.0M | $381.0M | $407.0M | $433.0M | $459.0M | $514.0M | $519.0M | $1.68B | $1.68B | $1.74B | $4.22B |
| Long-term investments | $16.57B | $14.57B | $15.77B | $15.11B | $14.84B | $12.84B | $10.42B | $289.0M | $1.15B | $667.0M | $9.16B | $7.36B |
| Other non-current assets | $53.37B | $71.33B | $54.63B | $67.20B | $68.40B | $56.35B | $60.72B | $87.13B | $92.68B | $93.34B | $78.70B | $81.59B |
| Total assets | $87.71B | $87.13B | $87.51B | $91.67B | $92.24B | $97.63B | $100.16B | $114.37B | $119.06B | $112.90B | $114.06B | $111.23B |
| Liabilities | ||||||||||||
| Accounts payable | — | — | $39.0M | — | — | — | $51.0M | — | — | — | — | — |
| Short-term debt | — | — | — | $2.50B | $2.50B | $3.50B | $3.75B | $60.0M | $121.0M | $1.96B | $7.35B | $547.0M |
| Total current liabilities | — | — | $30.29B | $71.65B | $72.25B | $77.41B | $79.62B | $83.07B | $79.15B | $76.82B | $88.88B | $83.22B |
| Long-term debt | $6.69B | $7.68B | $12.18B | $13.18B | $13.18B | $1.03B | $1.03B | $1.02B | $28.77B | $24.77B | $21.27B | $14.04B |
| Other long-term liabilities | $72.89B | $71.32B | $36.89B | $0 | $0 | $11.04B | $11.35B | $21.70B | $2.73B | $2.92B | $0 | $2.98B |
| Total liabilities | $79.57B | $79.01B | $79.37B | $83.56B | $84.14B | $89.47B | $91.99B | $105.80B | $110.66B | $104.51B | $105.69B | $100.24B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $4.0M | $4.0M | $4.0M | $4.0M | $4.0M | $4.0M | $4.0M | $4.0M | $4.0M | $8.0M | $2.0M | $7.0M |
| Retained earnings (deficit) | −$958.0M | −$980.0M | −$988.0M | −$1.01B | −$957.0M | −$875.0M | −$763.0M | −$562.0M | −$270.0M | $73.0M | $443.0M | $3.28B |
| Accumulated other comprehensive income | −$547.0M | −$528.0M | −$489.0M | −$495.0M | −$542.0M | −$553.0M | −$640.0M | −$421.0M | −$614.0M | −$617.0M | −$599.0M | −$795.0M |
| Total shareholders' equity | $8.14B | $8.12B | $8.14B | $8.11B | $8.10B | $8.15B | $8.17B | $8.57B | $8.40B | $8.39B | $8.37B | $10.99B |
| Key figures | ||||||||||||
| Total debt | $10.94B | $11.19B | $12.18B | $13.18B | $13.18B | $14.18B | $14.43B | $20.33B | $28.89B | $26.73B | $28.62B | $14.59B |
| Net cash (debt) | $6.03B | −$10.79B | $4.07B | −$4.70B | −$5.08B | $11.26B | $11.41B | $3.02B | −$8.77B | −$13.18B | −$8.00B | −$313.0M |
| Working capital | — | — | −$14.04B | −$63.17B | −$64.15B | −$49.91B | −$51.67B | −$57.29B | −$56.30B | −$60.28B | −$65.07B | −$65.80B |
| Tangible book value | $7.81B | $7.76B | $7.76B | $7.70B | $7.66B | $7.69B | $7.65B | $8.05B | $6.72B | $6.71B | $6.63B | $6.77B |
| Book value per share | $17.19 | $17.41 | $17.75 | $19.53 | $19.50 | $19.65 | $23.42 | $23.38 | $28.65 | $34.01 | $34.75 | $45.49 |
| Shares outstanding | 473.6M | 466.6M | 458.7M | 415.1M | 415.1M | 414.8M | 348.7M | 366.6M | 293.1M | 246.7M | 240.8M | 241.6M |
| Current ratio | — | — | 0.54 | 0.12 | 0.11 | 0.36 | 0.35 | 0.31 | 0.29 | 0.22 | 0.27 | 0.21 |
| Quick ratio | — | — | 0.55 | 0.12 | 0.11 | 0.36 | 0.35 | 0.31 | 0.29 | 0.22 | 0.27 | 0.21 |
| Debt / equity | 1.34 | 1.38 | 1.50 | 1.63 | 1.63 | 1.74 | 1.77 | 2.37 | 3.44 | 3.19 | 3.42 | 1.33 |
| Equity / assets | 9.3% | 9.3% | 9.3% | 8.8% | 8.8% | 8.4% | 8.2% | 7.5% | 7.1% | 7.4% | 7.3% | 9.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.
FLG financial position
At the end of fiscal 2025 (December 31, 2025), Flagstar Financial had total assets of $87.5 billion (down 12.6% from a year earlier), total liabilities of $79.4 billion and shareholders' equity of $8.1 billion. It held $16.3 billion in cash and short-term investments against $12.2 billion of debt, a net cash position of $4.1 billion. Its current ratio was 0.54. In the latest quarter (ended June 30, 2026) total assets were $87.7 billion and equity $8.1 billion.
Related: FLG income statement, FLG cash flow statement, FLG key metrics. See the FLG stock overview for the latest quote and news.
FLG balance sheet FAQ
What are Flagstar Financial's total assets?
Flagstar Financial reported total assets of $87.5 billion at the end of fiscal 2025 (December 31, 2025), compared with $100.2 billion a year earlier.
How much debt does Flagstar Financial have?
Flagstar Financial had $12.2 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 1.50.
How much cash does Flagstar Financial have?
Flagstar Financial held $16.3 billion in cash and short-term investments at the end of fiscal 2025; with $12.2 billion of debt that is net cash of $4.1 billion.
What is Flagstar Financial's book value?
Flagstar Financial's shareholders' equity (book value) was $8.1 billion at the end of fiscal 2025, or $19.61 per share.
What is Flagstar Financial's current ratio?
Flagstar Financial had current assets of $16.3 billion and current liabilities of $30.3 billion, a current ratio of 0.54 (current liabilities exceed current assets).
How much goodwill does Flagstar Financial have?
Flagstar Financial carried $381.0 million of goodwill and intangible assets, 0.4% of total assets, at the end of fiscal 2025.