LTC Properties, Inc. (LTC) Balance Sheet
LTC balance sheet, 2025
December 31, 2025 · U.S. dollars$2.06B assets = $899.7M liabilities + $1.16B equity
Both columns are drawn to the same scale: what LTC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
LTC financial health
Descriptive bands, not a rating. Fiscal 2025.
LTC balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.39B2016 | $2.06B2025 | +4.4%/yr | |
| Total liabilities | $654.8M2016 | $899.7M2025 | +3.6%/yr | |
| Shareholders’ equity | $740.0M2016 | $1.07B2025 | +4.2%/yr | |
| Cash & short-term investments | $8.0M2016 | $14.4M2025 | +6.8%/yr | |
| Total debt | $609.4M2016 | $844.8M2025 | +3.7%/yr | |
| Net cash (debt) | −$601.4M2016 | −$830.4M2025 | −$229.0M | |
| Working capital | $296.7M2016 | $32.3M2025 | −$264.4M | |
| Book value per share | $19.172016 | $23.092025 | +2.1%/yr | |
| Current ratio | 7.532016 | 1.632025 | −5.90 | |
| Debt / equity | 0.822016 | 0.792025 | −0.04 | |
| Shares outstanding | 38.6M2016 | 46.6M2025 | +2.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
LTC assets
LTC liabilities and equity
LTC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
LTC balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $14.4M | $9.4M | $20.3M | $10.4M | $5.2M | $7.8M | $4.2M | $2.7M | $5.2M | $8.0M |
| Cash & equivalents | $14.4M | $9.4M | $20.3M | $10.4M | $5.2M | $7.8M | $4.2M | $2.7M | $5.2M | $8.0M |
| Short-term investments | $1.20B | $925.8M | $988.0M | $19.3M | $1.03B | $1.10B | $1.14B | $1.11B | $1.09B | $1.03B |
| Receivables | $69.4M | $803.0M | $810.0M | $593.7M | $436.4M | $328.9M | $344.3M | $350.2M | $319.8M | $311.2M |
| Inventory | $0 | $670,000 | $18.4M | $10.7M | $0 | $0 | $62.0M | $5.7M | $3.8M | $0 |
| Other current assets | $0 | $15.2M | $0 | $389,000 | $4.2M | $5.3M | $0 | $4.2M | $23.7M | $22.9M |
| Total current assets | $83.8M | $828.3M | $846.2M | $615.2M | $445.8M | $342.0M | $380.5M | $362.8M | $352.6M | $342.1M |
| Property, plant & equipment (net) | $1.20B | $925.2M | $969.6M | $1.01B | $1.03B | $1.10B | $1.11B | $1.10B | $1.08B | $1.03B |
| Goodwill & intangible assets | $6.5M | $439.6M | $7.9M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $12.5M | $30.6M | $19.3M | $19.3M | $363.8M | $268.6M | $273.1M | $1.39B | $1.36B | $1.30B |
| Other non-current assets | $757.5M | $0 | $12.0M | $13.0M | $0 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $2.06B | $1.79B | $1.86B | $1.66B | $1.50B | $1.46B | $1.51B | $1.51B | $1.47B | $1.39B |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | $37.9M | $37.0M | $34.3M | $35.4M | $35.6M | $30.5M | $33.2M |
| Short-term debt | $51.5M | $144.3M | $302.2M | $49.2M | $623.4M | $559.5M | $599.5M | $533.0M | $571.0M | $502.3M |
| Total current liabilities | $51.5M | $192.9M | $349.8M | $37.9M | $37.0M | $34.3M | $35.4M | $35.6M | $39.4M | $45.5M |
| Long-term debt | $842.2M | $684.6M | $891.3M | $637.9M | $611.8M | $559.5M | $599.5M | $533.0M | $571.0M | $502.3M |
| Other long-term liabilities | $6.0M | $0 | $0 | $130.0M | $110.9M | $89.9M | $93.9M | $112.0M | $96.5M | $107.1M |
| Total liabilities | $899.7M | $733.1M | $938.8M | $805.8M | $759.7M | $683.7M | $728.8M | $680.6M | $706.9M | $654.8M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $485,000 | $455,000 | $430,000 | $412,000 | $394,000 | $392,000 | $398,000 | $397,000 | $857.4M | $392,000 |
| Retained earnings (deficit) | −$115.8M | −$126.4M | −$116.9M | −$111.9M | −$120.4M | −$85.8M | −$90.8M | −$37.6M | −$102.2M | −$99.3M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | $482,000 | $3.8M | $6.1M | $8.7M | −$172,000 | −$85.8M | −$90.8M | $833.0M | $47,000 | $740.0M |
| Minority interest | $87.4M | $92.4M | $35.0M | $21.9M | $8.4M | $8.4M | $8.5M | $7.5M | $3.5M | $0 |
| Total shareholders' equity | $1.07B | $960.6M | $881.3M | $828.4M | $745.1M | $775.8M | $785.4M | $833.0M | $758.6M | $740.0M |
| Key figures | ||||||||||
| Total debt | $844.8M | $684.6M | $891.3M | $767.9M | $1.24B | $649.4M | $693.4M | $645.0M | $667.5M | $609.4M |
| Net cash (debt) | −$830.4M | −$675.2M | −$871.0M | −$757.5M | −$1.23B | −$641.6M | −$689.1M | −$642.4M | −$662.3M | −$601.4M |
| Working capital | $32.3M | $635.4M | $496.5M | $577.3M | $408.8M | $307.7M | $345.1M | $327.2M | $313.2M | $296.7M |
| Tangible book value | $1.07B | $521.0M | $873.4M | $828.4M | $745.1M | $775.8M | $785.4M | $833.0M | $758.6M | $740.0M |
| Book value per share | $23.09 | $21.71 | $21.31 | $20.67 | $19.03 | $19.76 | $19.75 | $20.91 | $19.14 | $19.17 |
| Shares outstanding | 46.6M | 44.2M | 41.4M | 40.1M | 39.2M | 39.3M | 39.8M | 39.8M | 39.6M | 38.6M |
| Current ratio | 1.63 | 4.29 | 2.42 | 16.21 | 12.06 | 9.97 | 10.75 | 10.19 | 8.94 | 7.53 |
| Quick ratio | 1.63 | 4.21 | 2.37 | 15.92 | 11.94 | 9.82 | 9.85 | 9.91 | 8.25 | 7.02 |
| Debt / equity | 0.79 | 0.71 | 1.01 | 0.93 | 1.66 | 0.84 | 0.88 | 0.77 | 0.88 | 0.82 |
| Equity / assets | 52.1% | 53.8% | 47.5% | 50.0% | 49.5% | 53.2% | 51.9% | 55.0% | 51.8% | 53.1% |
| 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 | $40.4M | $21.7M | $14.4M | $17.9M | $7.6M | $23.3M | $9.4M | $35.0M | $6.2M | $9.0M | $20.3M | $11.3M |
| Cash & equivalents | $40.4M | $21.7M | $14.4M | $17.9M | $7.6M | $23.3M | $9.4M | $35.0M | $6.2M | $9.0M | $20.3M | $11.3M |
| Short-term investments | $2.03B | $1.97B | $1.20B | $1.17B | $907.9M | $916.7M | $925.8M | $942.3M | $949.3M | $956.4M | $988.0M | $1.01B |
| Receivables | $46.9M | $746.7M | $69.4M | $20.5M | $842.3M | $802.1M | $803.0M | $847.0M | $885.5M | $814.7M | $810.0M | $809.5M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $42.5M | $670,000 | $4.1M | $4.2M | $389,000 | $18.4M | $9.4M |
| Other current assets | $16.8M | $0 | $0 | $450.5M | $19.0M | $0 | $15.2M | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $104.2M | $768.4M | $83.8M | $488.9M | $868.9M | $840.0M | $828.3M | $882.1M | $891.7M | $824.1M | $846.2M | $830.3M |
| Property, plant & equipment (net) | $1.35B | $2.5M | $1.20B | $1.13B | $865.4M | $874.3M | $925.2M | $938.3M | $945.1M | $956.0M | $969.6M | $998.3M |
| Goodwill & intangible assets | $6.2M | $6.3M | $6.5M | $6.7M | $6.9M | $7.0M | $439.6M | $7.4M | $134.6M | $0 | $0 | $0 |
| Long-term investments | $0 | $12.6M | $12.5M | $18.3M | $17.8M | $17.6M | $30.6M | $30.6M | $30.5M | $19.3M | $19.3M | $19.3M |
| Other non-current assets | $712.5M | $1.31B | $757.5M | $401.1M | $36.4M | $36.6M | $0 | $13.3M | $0 | $19.0M | $19.9M | $19.9M |
| Total assets | $2.18B | $2.10B | $2.06B | $2.04B | $1.80B | $1.78B | $1.79B | $1.87B | $1.89B | $1.82B | $1.86B | $1.87B |
| Liabilities | ||||||||||||
| Accounts payable | $4.8M | — | — | $5.4M | — | — | — | — | — | — | — | — |
| Short-term debt | $200.0M | $285.5M | $51.5M | $944.5M | $268.4M | $148.8M | $144.3M | $240.2M | $281.8M | $277.1M | $302.2M | $362.2M |
| Deferred revenue | $2.4M | $2.5M | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | $255.7M | $334.9M | $51.5M | $22.3M | $322.4M | $192.9M | $192.9M | $285.0M | $328.7M | $316.4M | $349.8M | $413.5M |
| Long-term debt | $577.1M | $584.5M | $842.2M | $944.5M | $696.5M | $682.2M | $684.6M | $785.3M | $579.3M | $583.2M | $891.3M | $956.2M |
| Lease obligations | $2.4M | $2.5M | — | — | — | — | — | — | — | — | — | — |
| Other long-term liabilities | $2.4M | $0 | $6.0M | $32.4M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total liabilities | $835.2M | $919.3M | $899.7M | $999.2M | $750.5M | $726.2M | $733.1M | $830.2M | $908.0M | $899.6M | $938.8M | $1.01B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $539,000 | $498,000 | $485,000 | $473,000 | $461,000 | $459,000 | $455,000 | $450,000 | $435,000 | $433,000 | $430,000 | $413,000 |
| Retained earnings (deficit) | −$121.6M | −$121.4M | −$115.8M | −$190.6M | −$144.2M | −$133.0M | −$126.4M | −$118.6M | −$122.7M | −$117.3M | −$116.9M | −$121.2M |
| Accumulated other comprehensive income | $3.4M | $1.6M | $482,000 | −$189.2M | $2.2M | $2.9M | $3.8M | $3.6M | $6.0M | $6.5M | $6.1M | $8.6M |
| Minority interest | $73.1M | $73.1M | $87.4M | $87.4M | $87.4M | — | — | — | — | — | — | — |
| Total shareholders' equity | $1.27B | $1.11B | $1.07B | $957.9M | $957.5M | $961.9M | $960.6M | $947.8M | $889.1M | $886.2M | $881.3M | $825.4M |
| Key figures | ||||||||||||
| Total debt | $779.5M | $869.9M | $844.8M | $947.2M | $696.5M | $682.2M | $684.6M | $785.3M | $861.0M | $860.2M | $891.3M | $1.32B |
| Net cash (debt) | −$739.1M | −$848.3M | −$830.4M | −$929.2M | −$688.8M | −$658.9M | −$675.2M | −$750.3M | −$854.8M | −$851.2M | −$871.0M | −$1.31B |
| Working capital | −$151.6M | $433.5M | $32.3M | $466.6M | $546.4M | $647.1M | $635.4M | $597.1M | $563.0M | $507.7M | $496.5M | $416.8M |
| Tangible book value | $1.26B | $1.10B | $1.07B | $951.2M | $950.6M | $954.9M | $521.0M | $940.4M | $754.6M | $886.2M | $881.3M | $825.4M |
| Book value per share | $24.30 | $22.67 | $23.09 | $20.77 | $20.80 | $21.06 | $21.10 | $21.35 | $20.46 | $20.60 | $20.96 | $20.03 |
| Shares outstanding | 52.2M | 49.0M | 46.6M | 46.1M | 46.0M | 45.7M | 45.5M | 44.4M | 43.5M | 43.0M | 42.0M | 41.2M |
| Current ratio | 0.41 | 2.29 | 1.63 | 21.93 | 2.69 | 4.35 | 4.29 | 3.09 | 2.71 | 2.60 | 2.42 | 2.01 |
| Quick ratio | 0.34 | 2.29 | 1.63 | 1.72 | 2.64 | 4.28 | 4.21 | 3.09 | 2.71 | 2.60 | 2.37 | 1.99 |
| Debt / equity | 0.61 | 0.78 | 0.79 | 0.99 | 0.73 | 0.71 | 0.71 | 0.83 | 0.97 | 0.97 | 1.01 | 1.60 |
| Equity / assets | 58.3% | 52.8% | 52.1% | 46.9% | 53.3% | 54.2% | 53.8% | 50.6% | 47.0% | 48.7% | 47.5% | 44.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 24, 2026); data from EODHD.
LTC financial position
At the end of fiscal 2025 (December 31, 2025), LTC Properties had total assets of $2.1 billion (up 15.4% from a year earlier), total liabilities of $899.7 million and shareholders' equity of $1.1 billion. It held $14.4 million in cash and short-term investments against $844.8 million of debt, net debt of $830.4 million. Its current ratio was 1.63. In the latest quarter (ended June 30, 2026) total assets were $2.2 billion and equity $1.3 billion.
Related: LTC income statement, LTC cash flow statement, LTC key metrics. See the LTC stock overview for the latest quote and news.
LTC balance sheet FAQ
What are LTC Properties's total assets?
LTC Properties reported total assets of $2.1 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.8 billion a year earlier.
How much debt does LTC Properties have?
LTC Properties had $844.8 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.79.
How much cash does LTC Properties have?
LTC Properties held $14.4 million in cash and short-term investments at the end of fiscal 2025; with $844.8 million of debt that is net debt of $830.4 million.
What is LTC Properties's book value?
LTC Properties's shareholders' equity (book value) was $1.1 billion at the end of fiscal 2025, or $23.09 per share.
What is LTC Properties's current ratio?
LTC Properties had current assets of $83.8 million and current liabilities of $51.5 million, a current ratio of 1.63 (it can cover its short-term obligations).
How much goodwill does LTC Properties have?
LTC Properties carried $6.5 million of goodwill and intangible assets, 0.3% of total assets, at the end of fiscal 2025.