Tanger Factory Outlet Centers, Inc. (SKT) Balance Sheet
SKT balance sheet, 2025
December 31, 2025 · U.S. dollars$2.66B assets = $1.92B liabilities + $735.1M equity
Both columns are drawn to the same scale: what SKT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SKT financial health
Descriptive bands, not a rating. Fiscal 2025.
SKT balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.53B2016 | $2.66B2025 | +0.6%/yr | |
| Total liabilities | $1.82B2016 | $1.92B2025 | +0.6%/yr | |
| Shareholders’ equity | $705.4M2016 | $706.5M2025 | +0.0%/yr | |
| Cash & short-term investments | $12.2M2016 | $18.1M2025 | +4.5%/yr | |
| Total debt | $1.75B2016 | $1.69B2025 | −0.4%/yr | |
| Net cash (debt) | −$1.73B2016 | −$1.67B2025 | +$63.4M | |
| Working capital | −$40.9M2016 | −$123.5M2025 | −$82.6M | |
| Book value per share | $7.402016 | $6.172025 | −2.0%/yr | |
| Current ratio | 0.702016 | 0.302025 | −0.40 | |
| Debt / equity | 2.472016 | 2.392025 | −0.09 | |
| Shares outstanding | 95.3M2016 | 114.6M2025 | +2.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SKT assets
SKT liabilities and equity
SKT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SKT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $18.1M | $47.0M | $22.0M | $264.6M | $161.3M | $84.8M | $16.7M | $9.1M | $6.1M | $12.2M |
| Cash & equivalents | $18.1M | $47.0M | $12.8M | $212.1M | $161.3M | $84.8M | $16.7M | $9.1M | $6.1M | $12.2M |
| Short-term investments | — | $0 | $9.2M | $52.5M | $2.5M | — | $1.0M | $5.8M | $5.5M | $4.0M |
| Receivables | $0 | $57.9M | $48.9M | $59.7M | $53.3M | $65.8M | $61.6M | $57.5M | $51.9M | $46.8M |
| Inventory | $0 | $0 | −$2.7M | −$14.1M | −$2.5M | $0 | −$1.0M | −$5.8M | −$5.5M | −$4.0M |
| Other current assets | $35.4M | $0 | $0 | $0 | $53.8M | $39.5M | $43.0M | $46.4M | $49.6M | $40.2M |
| Total current assets | $53.5M | $47.0M | $22.0M | $264.6M | $265.8M | $190.1M | $120.3M | $107.2M | $102.1M | $95.2M |
| Property, plant & equipment (net) | $83.5M | $76.1M | $77.4M | $78.6M | $79.8M | $81.5M | $86.6M | $2.06B | $2.19B | $2.15B |
| Goodwill & intangible assets | $15.3M | −$16.5M | −$7.7M | −$30.5M | −$16.5M | −$3.9M | $11.3M | $29.3M | $50.2M | $74.8M |
| Long-term investments | $64.9M | $65.7M | $71.9M | $73.8M | $82.6M | $94.6M | $94.7M | $96.0M | $119.4M | $128.1M |
| Other non-current assets | $2.44B | $2.21B | $2.16B | $1.83B | $1.75B | $1.83B | $1.97B | $87.6M | $81.9M | $76.7M |
| Total assets | $2.66B | $2.38B | $2.32B | $2.22B | $2.16B | $2.19B | $2.29B | $2.38B | $2.54B | $2.53B |
| Liabilities | ||||||||||
| Accounts payable | — | $107.8M | $118.5M | $104.7M | $93.0M | $88.3M | $79.6M | $82.7M | $90.4M | $78.1M |
| Short-term debt | $44.0M | $1.13B | $13.0M | $1.13B | $1.13B | $1.23B | $1.23B | $142.0M | $206.2M | $58.0M |
| Deferred revenue | — | — | −$5.8M | −$93.0M | −$93.0M | −$88.3M | — | −$1.88B | −$1.93B | −$1.82B |
| Total current liabilities | $177.1M | $107.8M | $131.5M | $104.7M | $93.0M | $88.3M | $79.6M | $224.7M | $296.6M | $136.1M |
| Long-term debt | $1.60B | $1.42B | $1.44B | $1.43B | $1.40B | $1.57B | $1.57B | $1.71B | $1.76B | $1.69B |
| Lease obligations | $91.6M | $84.5M | $86.1M | $87.5M | $88.9M | $90.1M | $91.2M | — | — | — |
| Other long-term liabilities | $147.0M | $170.0M | $162.1M | $170.5M | $167.5M | $174.5M | $179.8M | $0 | $0 | $0 |
| Total liabilities | $1.92B | $1.70B | $1.73B | $1.70B | $1.66B | $1.83B | $1.83B | $1.88B | $1.93B | $1.82B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.2M | $1.1M | $1.1M | $1.0M | $1.0M | $936,000 | $929,000 | $939,000 | $785.7M | $821.2M |
| Retained earnings (deficit) | −$529.2M | −$511.8M | −$490.2M | −$485.6M | −$483.4M | −$420.1M | −$317.3M | −$272.5M | −$184.9M | −$122.7M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$28.3M | −$27.7M | −$23.5M | −$11.0M | −$17.8M | −$26.6M | −$25.5M | −$27.2M | −$19.3M | −$28.3M |
| Minority interest | $28.6M | $27.3M | $24.5M | $22.3M | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $706.5M | $652.4M | $566.8M | $513.9M | $499.8M | $358.9M | $456.1M | $505.5M | $612.3M | $705.4M |
| Key figures | ||||||||||
| Total debt | $1.69B | $1.51B | $1.53B | $2.55B | $2.52B | $2.80B | $2.80B | $1.85B | $1.97B | $1.75B |
| Net cash (debt) | −$1.67B | −$1.46B | −$1.50B | −$2.29B | −$2.36B | −$2.71B | −$2.78B | −$1.85B | −$1.96B | −$1.73B |
| Working capital | −$123.5M | −$60.8M | −$109.5M | $159.8M | $172.8M | $101.9M | $40.7M | −$117.5M | −$194.5M | −$40.9M |
| Tangible book value | $691.2M | $668.9M | $574.4M | $544.5M | $516.3M | $362.8M | $444.8M | $476.3M | $562.1M | $630.6M |
| Book value per share | $6.17 | $5.87 | $5.32 | $4.87 | $4.90 | $3.87 | $4.91 | $5.42 | $6.48 | $7.40 |
| Shares outstanding | 114.6M | 111.1M | 106.5M | 105.6M | 102.0M | 92.6M | 92.8M | 93.3M | 94.5M | 95.3M |
| Current ratio | 0.30 | 0.44 | 0.17 | 2.53 | 2.86 | 2.15 | 1.51 | 0.48 | 0.34 | 0.70 |
| Quick ratio | 0.10 | 0.97 | 0.54 | 3.10 | 2.31 | 1.71 | 0.98 | 0.30 | 0.20 | 0.43 |
| Debt / equity | 2.39 | 2.31 | 2.69 | 4.97 | 5.05 | 7.80 | 6.14 | 3.67 | 3.22 | 2.47 |
| Equity / assets | 26.6% | 27.4% | 24.4% | 23.2% | 23.2% | 16.4% | 20.0% | 21.2% | 24.1% | 27.9% |
| 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 | $196.9M | $263.2M | $18.1M | $13.0M | $9.7M | $10.2M | $47.0M | $11.1M | $11.3M | $15.9M | $22.0M | $201.6M |
| Cash & equivalents | $176.9M | $243.2M | $18.1M | $13.0M | $9.7M | $10.2M | $47.0M | $11.1M | $9.1M | $8.1M | $12.8M | $188.5M |
| Short-term investments | $20.0M | $20.0M | — | — | — | — | $0 | $0 | $2.2M | $7.7M | $9.2M | $13.2M |
| Receivables | $0 | $0 | $0 | $0 | $49.2M | $48.5M | $57.9M | $49.3M | $48.9M | $48.4M | $48.9M | $50.0M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $16.6M | $0 | $0 | −$3.6M | −$3.3M | −$2.7M | −$8.3M |
| Other current assets | $0 | $0 | $35.4M | $37.2M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $196.9M | $263.2M | $53.5M | $50.2M | $9.7M | $26.8M | $47.0M | $11.1M | $11.3M | $15.9M | $22.0M | $201.6M |
| Property, plant & equipment (net) | $2.23B | $83.1M | $83.5M | $81.7M | $75.4M | $75.8M | $76.1M | $76.4M | $76.8M | $77.1M | $77.4M | $77.7M |
| Goodwill & intangible assets | $113.8M | $105.5M | $15.3M | $116.0M | $100.2M | $104.8M | −$16.5M | $77.5M | $81.9M | $86.4M | −$7.7M | $54.1M |
| Long-term investments | $63.6M | $64.8M | $64.9M | $65.7M | $66.7M | $64.5M | $65.7M | $70.2M | $72.1M | $71.7M | $71.9M | $72.3M |
| Other non-current assets | $250.6M | $2.32B | $2.44B | $2.32B | $2.20B | $2.21B | $2.21B | $2.04B | $2.05B | $2.05B | $2.16B | $1.80B |
| Total assets | $2.86B | $2.83B | $2.66B | $2.64B | $2.45B | $2.48B | $2.38B | $2.28B | $2.29B | $2.30B | $2.32B | $2.21B |
| Liabilities | ||||||||||||
| Accounts payable | $107.7M | — | — | — | $86.5M | $75.1M | $107.8M | $86.8M | $86.0M | $77.9M | $118.5M | $98.5M |
| Short-term debt | $1.38B | $355.3M | $44.0M | $60.0M | $92.0M | $139.0M | $1.13B | $1.3M | $35.0M | $46.0M | $13.0M | $1.13B |
| Deferred revenue | — | — | — | — | — | — | — | — | $32.4M | — | −$5.8M | −$98.5M |
| Total current liabilities | $107.7M | $355.3M | $177.1M | $158.5M | $178.5M | $214.1M | $107.8M | $86.8M | $121.0M | $123.9M | $131.5M | $99.0M |
| Long-term debt | $1.86B | $1.87B | $1.60B | $1.61B | $1.53B | $1.56B | $1.42B | $1.42B | $1.43B | $1.43B | $1.43B | $1.43B |
| Lease obligations | $90.8M | $91.2M | $91.6M | $90.1M | $83.8M | $84.1M | $84.5M | $85.1M | $85.4M | $85.8M | $86.1M | $86.6M |
| Other long-term liabilities | $189.6M | $0 | $147.0M | $132.2M | $86.5M | $40.7M | $170.0M | $171.5M | $170.0M | $171.9M | $175.1M | $167.0M |
| Total liabilities | $2.16B | $2.14B | $1.92B | $1.90B | $1.79B | $1.82B | $1.70B | $1.68B | $1.72B | $1.72B | $1.73B | $1.69B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.1M | $1.1M | $1.2M | $1.2M | $1.1M | $1.1M | $1.1M | $1.1M | $1.1M | $1.1M | $1.1M | $1.1M |
| Retained earnings (deficit) | −$538.7M | −$536.0M | −$529.2M | −$529.0M | −$527.9M | −$524.8M | −$511.8M | −$507.8M | −$502.6M | −$497.3M | −$490.2M | −$486.5M |
| Accumulated other comprehensive income | −$23.0M | −$26.6M | −$28.3M | −$28.9M | −$28.4M | −$29.5M | −$27.7M | −$27.4M | −$20.7M | −$21.3M | −$23.5M | −$16.8M |
| Minority interest | $27.4M | $27.3M | $28.6M | $28.5M | $26.2M | — | — | — | — | — | — | — |
| Total shareholders' equity | $674.0M | $670.5M | $706.5M | $703.6M | $635.2M | $633.9M | $652.4M | $568.3M | $553.7M | $555.8M | $566.8M | $490.7M |
| Key figures | ||||||||||||
| Total debt | $1.86B | $1.96B | $1.69B | $1.70B | $1.61B | $1.65B | $1.51B | $1.51B | $1.55B | $1.56B | $1.53B | $2.55B |
| Net cash (debt) | −$1.66B | −$1.69B | −$1.67B | −$1.69B | −$1.60B | −$1.64B | −$1.46B | −$1.50B | −$1.53B | −$1.54B | −$1.50B | −$2.35B |
| Working capital | $89.2M | −$92.1M | −$123.5M | −$108.3M | −$168.8M | −$187.3M | −$60.8M | −$75.7M | −$109.7M | −$108.0M | −$109.5M | $102.6M |
| Tangible book value | $560.1M | $565.0M | $691.2M | $587.6M | $535.0M | $529.1M | $668.9M | $490.8M | $471.9M | $469.4M | $574.4M | $436.6M |
| Book value per share | $5.82 | $5.85 | $6.17 | $6.14 | $5.57 | $5.56 | $5.77 | $5.16 | $5.03 | $5.05 | $5.26 | $4.62 |
| Shares outstanding | 115.7M | 114.6M | 114.6M | 114.6M | 114.1M | 114.0M | 113.0M | 110.2M | 110.2M | 110.0M | 107.8M | 106.3M |
| Current ratio | 1.83 | 0.74 | 0.30 | 0.32 | 0.05 | 0.13 | 0.44 | 0.13 | 0.09 | 0.13 | 0.17 | 2.04 |
| Quick ratio | 1.83 | 0.74 | 0.10 | 0.08 | 0.33 | 0.27 | 0.97 | 0.70 | 0.50 | 0.52 | 0.54 | 2.54 |
| Debt / equity | 2.76 | 2.92 | 2.39 | 2.42 | 2.53 | 2.60 | 2.31 | 2.66 | 2.79 | 2.80 | 2.69 | 5.20 |
| Equity / assets | 23.6% | 23.7% | 26.6% | 26.7% | 25.9% | 25.6% | 27.4% | 25.0% | 24.1% | 24.2% | 24.4% | 22.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
SKT financial position
At the end of fiscal 2025 (December 31, 2025), Tanger Factory Outlet Centers had total assets of $2.7 billion (up 11.5% from a year earlier), total liabilities of $1.9 billion and shareholders' equity of $706.5 million. It held $18.1 million in cash and short-term investments against $1.7 billion of debt, net debt of $1.7 billion. Its current ratio was 0.30. In the latest quarter (ended June 30, 2026) total assets were $2.9 billion and equity $674.0 million.
Related: SKT income statement, SKT cash flow statement, SKT key metrics. See the SKT stock overview for the latest quote and news.
SKT balance sheet FAQ
What are Tanger Factory Outlet Centers's total assets?
Tanger Factory Outlet Centers reported total assets of $2.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.4 billion a year earlier.
How much debt does Tanger Factory Outlet Centers have?
Tanger Factory Outlet Centers had $1.7 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 2.39.
How much cash does Tanger Factory Outlet Centers have?
Tanger Factory Outlet Centers held $18.1 million in cash and short-term investments at the end of fiscal 2025; with $1.7 billion of debt that is net debt of $1.7 billion.
What is Tanger Factory Outlet Centers's book value?
Tanger Factory Outlet Centers's shareholders' equity (book value) was $706.5 million at the end of fiscal 2025, or $6.17 per share.
What is Tanger Factory Outlet Centers's current ratio?
Tanger Factory Outlet Centers had current assets of $53.5 million and current liabilities of $177.1 million, a current ratio of 0.30 (current liabilities exceed current assets).
How much goodwill does Tanger Factory Outlet Centers have?
Tanger Factory Outlet Centers carried $15.3 million of goodwill and intangible assets, 0.6% of total assets, at the end of fiscal 2025.