Ladder Capital Corp (LADR) Balance Sheet
LADR balance sheet, 2025
December 31, 2025 · U.S. dollars$5.15B assets = $3.67B liabilities + $1.48B equity
Both columns are drawn to the same scale: what LADR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
LADR financial health
Descriptive bands, not a rating. Fiscal 2025.
LADR balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $5.58B2016 | $5.15B2025 | −0.9%/yr | |
| Total liabilities | $4.07B2016 | $3.67B2025 | −1.1%/yr | |
| Shareholders’ equity | $1.51B2016 | $1.48B2025 | −0.2%/yr | |
| Cash & short-term investments | $188.5M2016 | $321.4M2025 | +6.1%/yr | |
| Total debt | $3.97B2016 | $3.51B2025 | −1.4%/yr | |
| Net cash (debt) | −$3.78B2016 | −$3.19B2025 | +$593.0M | |
| Working capital | −$245,0002016 | −$663.1M2025 | −$662.9M | |
| Book value per share | $14.022016 | $11.762025 | −1.9%/yr | |
| Current ratio | 0.992016 | 0.352025 | −0.64 | |
| Debt / equity | 2.632016 | 2.372025 | −0.26 | |
| Shares outstanding | 107.6M2016 | 126.2M2025 | +1.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
LADR assets
LADR liabilities and equity
LADR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
LADR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $321.4M | $1.32B | $1.02B | $611.1M | $854.7M | $1.25B | $1.78B | $423.3M | $363.3M | $188.5M |
| Cash & equivalents | $38.0M | $1.32B | $1.02B | $609.1M | $548.7M | $1.25B | $58.2M | $67.9M | $76.7M | $44.6M |
| Short-term investments | $283.4M | $192.4M | $137.4M | $379.8M | $306.0M | $232.7M | $1.72B | $1.41B | $1.11B | $2.10B |
| Receivables | $15.9M | $1.54B | $3.11B | $3.86B | $13.6M | $2.31B | $21.3M | $27.2M | $26.8M | $24.4M |
| Inventory | $0 | $0 | −$1.5M | −$2.0M | −$402,000 | −$299,000 | −$693,000 | −$6.70B | −$888,000 | −$5.0M |
| Other current assets | $14.9M | $55.0M | $0 | $106.2M | $73.2M | $77.3M | $693,000 | $6.27B | $0 | $0 |
| Total current assets | $352.1M | $2.92B | $1.04B | $4.58B | $941.2M | $3.64B | $1.80B | $28.0M | $26.8M | $25.1M |
| Property, plant & equipment (net) | $0 | $636.5M | $665.4M | $635.2M | $1.1M | $894.1M | $949.7M | $893.7M | $903.5M | $715.8M |
| Goodwill & intangible assets | $116.3M | $50.6M | $63.8M | $69.1M | $149.1M | $98.4M | $163.7M | $164.3M | $191.0M | $156.8M |
| Long-term investments | $2.13B | $1.10B | $492.4M | $593.7M | $726.4M | $46.6M | $49.1M | $40.4M | $36.3M | $2.04B |
| Other non-current assets | $2.55B | $139.2M | $3.25B | $72.9M | $4.03B | $1.20B | $3.71B | $5.15B | $4.87B | $2.65B |
| Total assets | $5.15B | $4.85B | $5.51B | $5.95B | $5.85B | $5.88B | $6.67B | $6.27B | $6.03B | $5.58B |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | $100.2M | $67.8M | $71.4M | $223,000 | $1.3M | $14,000 | $394,000 |
| Short-term debt | $907.0M | $67.2M | $374.7M | $481.5M | $444.6M | $671.3M | $2.15B | $3.65B | $3.30B | $25.0M |
| Deferred revenue | — | — | — | — | — | — | −$2.15B | −$8.28B | −$7.83B | −$4.07B |
| Total current liabilities | $1.02B | $173.8M | $472.1M | $581.7M | $512.4M | $742.8M | $223,000 | $1.3M | $14,000 | $25.4M |
| Long-term debt | $2.60B | $3.07B | $3.18B | $4.25B | $4.22B | $3.12B | $4.86B | $4.45B | $2.6M | $3.95B |
| Lease obligations | — | — | — | — | $1.0M | $1.3M | — | — | — | — |
| Other long-term liabilities | $52.5M | $65.4M | $351.0M | $0 | $0 | $467.5M | $4.7M | $175.7M | $4.53B | $123.2M |
| Total liabilities | $3.67B | $3.31B | $3.98B | $4.42B | $4.34B | $4.33B | $5.03B | $4.63B | $4.54B | $4.07B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $127,000 | $127,000 | $127,000 | $127,000 | $126,000 | $127,000 | $120,000 | $118,000 | $1.31B | $110,000 |
| Retained earnings (deficit) | −$260.1M | −$206.9M | −$197.9M | −$177.0M | −$207.8M | −$163.7M | −$35.7M | $11.3M | −$39.1M | −$11.1M |
| Treasury stock | — | — | — | — | −$76.3M | −$62.9M | −$42.7M | −$32.8M | −$32.0M | −$11.2M |
| Accumulated other comprehensive income | −$4.1M | −$4.9M | −$13.9M | −$21.0M | −$4.1M | −$10.5M | $4.2M | −$4.6M | −$212,000 | $1.4M |
| Minority interest | −$2.6M | −$2.1M | −$950,000 | $215,000 | $6.5M | $5.3M | $180.7M | $198.5M | $253.2M | $538.2M |
| Total shareholders' equity | $1.48B | $1.54B | $1.53B | $1.53B | $1.51B | $1.54B | $1.64B | $1.64B | $1.23B | $1.51B |
| Key figures | ||||||||||
| Total debt | $3.51B | $3.15B | $3.80B | $4.25B | $4.22B | $4.21B | $7.01B | $4.45B | $3.91B | $3.97B |
| Net cash (debt) | −$3.19B | −$1.83B | −$2.79B | −$3.63B | −$3.37B | −$2.96B | −$5.23B | −$4.03B | −$3.54B | −$3.78B |
| Working capital | −$663.1M | $2.74B | $567.4M | $4.00B | $428.7M | $2.90B | $1.80B | $26.7M | $26.8M | −$245,000 |
| Tangible book value | $1.37B | $1.48B | $1.47B | $1.46B | $1.36B | $1.44B | $1.48B | $1.48B | $1.04B | $1.35B |
| Book value per share | $11.76 | $12.20 | $12.28 | $12.19 | $12.10 | $13.73 | $15.40 | $16.83 | $11.26 | $14.02 |
| Shares outstanding | 126.2M | 125.8M | 124.9M | 125.8M | 124.6M | 112.4M | 106.4M | 97.7M | 109.7M | 107.6M |
| Current ratio | 0.35 | 16.79 | 2.20 | 7.87 | 1.84 | 4.91 | 8,075.27 | 21.53 | 1,912.50 | 0.99 |
| Quick ratio | 0.33 | 16.47 | 8.74 | 7.69 | 1.69 | 4.80 | 8,075.27 | 346.25 | 27,860.29 | 8.39 |
| Debt / equity | 2.37 | 2.05 | 2.48 | 2.77 | 2.80 | 2.73 | 4.28 | 2.71 | 3.16 | 2.63 |
| Equity / assets | 28.8% | 31.7% | 27.8% | 25.8% | 25.8% | 26.2% | 24.6% | 26.2% | 20.5% | 27.1% |
| Sep '26 | 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 | $41.8M | $37.6M | $51.6M | $321.4M | $418.3M | $135.2M | $480.2M | $1.32B | $1.61B | $1.20B | $1.23B | $1.02B |
| Cash & equivalents | $41.8M | $37.6M | $51.6M | $38.0M | $49.4M | $134.9M | $479.8M | $1.32B | $1.61B | $1.20B | $1.23B | $1.02B |
| Short-term investments | — | $155.7M | $192.3M | $283.4M | $368.9M | $332.7M | $1.46B | $192.4M | $101.3M | $73.1M | $76.8M | $137.4M |
| Receivables | $20.4M | $17.0M | $17.8M | $15.9M | $14.5M | $1.54B | $1.61B | $1.54B | $1.99B | $2.49B | $23.2M | $3.11B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$757,000 | −$673,999 | $1.04B |
| Other current assets | $0 | $27.0M | $0 | $14.9M | $13.5M | $58.0M | $122.4M | $55.0M | $77.5M | $74.6M | $0 | $0 |
| Total current assets | $62.1M | $81.6M | $54.3M | $352.1M | $446.2M | $1.73B | $2.22B | $2.92B | $3.67B | $3.76B | $1.24B | $4.20B |
| Property, plant & equipment (net) | $0 | $12.1M | $12.7M | $13.3M | $14.0M | $652.2M | $622.7M | $636.5M | $653.7M | $665.1M | −$110,000 | $14.7M |
| Goodwill & intangible assets | $654.2M | $776.5M | $775.7M | $116.3M | $116.3M | $53.0M | $654.7M | $50.6M | $51.6M | $56.2M | −$432,000 | $61.0M |
| Long-term investments | $0 | $1.91B | $2.12B | $2.13B | $1.96B | $1.99B | $1.49B | $1.10B | $872.8M | $501.1M | $473.6M | $492.4M |
| Other non-current assets | $5.33B | $2.82B | $2.65B | $2.54B | $2.15B | $32.1M | $0 | $139.2M | $128.3M | $70.4M | $0 | $749.3M |
| Total assets | $6.04B | $5.61B | $5.61B | $5.15B | $4.69B | $4.46B | $4.47B | $4.85B | $5.38B | $5.05B | −$527,000 | $5.51B |
| Liabilities | ||||||||||||
| Short-term debt | — | $842.8M | $1.43B | $907.0M | $381.6M | $64.8M | $66.0M | $67.2M | $245.1M | $106.2M | $294.1M | $374.7M |
| Total current liabilities | — | $842.8M | $1.50B | $1.02B | $468.4M | $151.1M | $142.0M | $173.8M | $343.8M | $186.1M | $294.1M | $472.1M |
| Long-term debt | $0 | $2.87B | $2.60B | $2.60B | $2.62B | $2.43B | $2.71B | $3.07B | $3.34B | $3.02B | $3.18B | $3.18B |
| Other long-term liabilities | — | $467.1M | $58.8M | $52.5M | $109.1M | $380.3M | $106.6M | $65.4M | $163.8M | $309.0M | $620.8M | $351.0M |
| Total liabilities | $4.58B | $4.18B | $4.16B | $3.67B | $3.19B | $2.96B | $2.96B | $3.31B | $3.85B | $3.52B | $3.80B | $3.98B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $126,000 | $127,000 | $128,000 | $127,000 | $127,000 | $127,000 | $128,000 | $127,000 | $128,000 | $128,000 | $128,000 | $127,000 |
| Retained earnings (deficit) | −$264.6M | −$301.4M | −$286.8M | −$260.1M | −$246.7M | −$236.6M | −$224.6M | −$206.9M | −$209.2M | −$207.7M | −$210.6M | −$197.9M |
| Accumulated other comprehensive income | −$3.2M | −$4.6M | −$5.8M | −$4.1M | −$3.3M | −$5.6M | −$7.2M | −$4.9M | −$8.7M | −$10.8M | −$9.8M | −$13.9M |
| Minority interest | — | −$2.6M | −$2.6M | −$2.6M | −$2.6M | −$2.5M | — | — | — | — | — | — |
| Total shareholders' equity | $1.46B | $1.43B | $1.45B | $1.48B | $1.50B | $1.50B | $1.52B | $1.54B | $1.53B | $1.53B | $1.53B | $1.53B |
| Key figures | ||||||||||||
| Total debt | — | $4.00B | $4.03B | $3.51B | $3.00B | $2.80B | $2.79B | $3.15B | $3.60B | $3.39B | $3.67B | $3.80B |
| Net cash (debt) | — | −$3.97B | −$3.98B | −$3.19B | −$2.58B | −$2.66B | −$2.31B | −$1.83B | −$1.99B | −$2.20B | −$2.43B | −$2.79B |
| Working capital | — | −$761.2M | −$1.45B | −$663.1M | −$22.2M | $1.58B | $2.07B | $2.74B | $3.33B | $3.57B | $949.4M | $3.72B |
| Tangible book value | $809.0M | $652.8M | $671.4M | $1.37B | $1.38B | $1.45B | $862.0M | $1.48B | $1.48B | $1.47B | $1.53B | $1.47B |
| Book value per share | $11.72 | $11.41 | $11.48 | $11.76 | $11.86 | $11.91 | $12.01 | $12.20 | $12.17 | $12.16 | $12.15 | $12.26 |
| Shares outstanding | 124.9M | 125.2M | 126.0M | 126.2M | 126.1M | 126.2M | 126.3M | 125.9M | 125.9M | 125.8M | 125.5M | 125.1M |
| Current ratio | — | 0.10 | 0.04 | 0.35 | 0.95 | 11.48 | 15.61 | 16.79 | 10.68 | 20.18 | 4.23 | 8.89 |
| Quick ratio | — | 0.06 | 0.05 | 0.33 | 0.92 | 11.10 | 14.74 | 16.47 | 10.46 | 19.78 | 4.27 | 8.74 |
| Debt / equity | — | 2.80 | 2.78 | 2.37 | 2.00 | 1.86 | 1.84 | 2.05 | 2.35 | 2.22 | 2.40 | 2.48 |
| Equity / assets | 24.2% | 25.5% | 25.8% | 28.8% | 31.9% | 33.7% | 33.9% | 31.7% | 28.5% | 30.3% | — | 27.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 9, 2026); data from EODHD.
LADR financial position
At the end of fiscal 2025 (December 31, 2025), Ladder Capital had total assets of $5.2 billion (up 6.3% from a year earlier), total liabilities of $3.7 billion and shareholders' equity of $1.5 billion. It held $321.4 million in cash and short-term investments against $3.5 billion of debt, net debt of $3.2 billion. Its current ratio was 0.35. In the latest quarter (ended September 30, 2026) total assets were $6.0 billion and equity $1.5 billion.
Related: LADR income statement, LADR cash flow statement, LADR key metrics. See the LADR stock overview for the latest quote and news.
LADR balance sheet FAQ
What are Ladder Capital's total assets?
Ladder Capital reported total assets of $5.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $4.8 billion a year earlier.
How much debt does Ladder Capital have?
Ladder Capital had $3.5 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 2.37.
How much cash does Ladder Capital have?
Ladder Capital held $321.4 million in cash and short-term investments at the end of fiscal 2025; with $3.5 billion of debt that is net debt of $3.2 billion.
What is Ladder Capital's book value?
Ladder Capital's shareholders' equity (book value) was $1.5 billion at the end of fiscal 2025, or $11.76 per share.
What is Ladder Capital's current ratio?
Ladder Capital had current assets of $352.1 million and current liabilities of $1.0 billion, a current ratio of 0.35 (current liabilities exceed current assets).
How much goodwill does Ladder Capital have?
Ladder Capital carried $116.3 million of goodwill and intangible assets, 2.3% of total assets, at the end of fiscal 2025.