Ares Commercial Real Estate Corporation (ACRE) Key Metrics
ACRE valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $191.4M
- Enterprise value
- $1.44B
- P/E (TTM)
- — 10-yr median 12.1
- Forward P/E
- 7.3
- PEG ratio
- 2.57
- Price / sales
- 5.4 10-yr median 6.0
- Price / book
- 0.5 10-yr median 0.9
- EV / EBITDA
- 15.5 10-yr median 60.1
- Dividend yield
- 17.39% $0.60 a year
- Beta
- 1.25
ACRE key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsACRE valuation Price multiples at each fiscal year-end price.
ACRE returns How much profit the business earns on the capital it uses.
ACRE per-share figures Results divided by the shares outstanding at year-end.
ACRE financial health Debt, liquidity and how easily interest is covered.
ACRE efficiency & capital use Working capital cycle and where the cash goes.
ACRE valuation history
ACRE returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ACRE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ACRE cash returned to shareholders
ACRE price vs earnings per share
ACRE key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $262.4M | $320.7M | $562.4M | $536.4M | $620.6M | $395.4M | $456.9M | $373.7M | $368.3M | $391.6M |
| Enterprise value | $1.28B | $1.43B | $2.04B | $2.10B | $2.47B | $1.75B | $2.35B | $1.56B | $2.42B | $1.85B |
| P/E ratio | — | — | — | 18.0 | 10.3 | 18.1 | 12.4 | 9.7 | 12.1 | 9.7 |
| Price / sales | 3.1 | 4.6 | 6.1 | 4.9 | 6.1 | 5.0 | 5.9 | 6.8 | 7.9 | 8.7 |
| Price / book | 0.5 | 0.6 | 0.9 | 0.7 | 0.9 | 0.8 | 1.1 | 0.9 | 0.9 | 0.9 |
| Price / free cash flow | 13.3 | 9.0 | 12.0 | 9.4 | 12.9 | 12.6 | 14.9 | 9.5 | 11.8 | 47.9 |
| Price / operating cash flow | 12.3 | 9.0 | 12.0 | 9.4 | 12.8 | 12.4 | 14.1 | 9.5 | 11.8 | 45.9 |
| EV / sales | 15.0 | 20.5 | 22.0 | 19.3 | 24.2 | 22.3 | 30.4 | 28.1 | 52.2 | 41.1 |
| EV / EBITDA | 18.2 | 38.5 | — | 296.5 | 34.8 | 75.9 | 61.5 | 15.2 | 62.1 | 60.1 |
| EV / free cash flow | 64.9 | 40.2 | 43.6 | 36.8 | 51.3 | 55.6 | 76.3 | 39.7 | 77.4 | 226.5 |
| Earnings yield | −0.3% | −10.9% | −6.9% | 5.6% | 9.7% | 5.5% | 8.1% | 10.3% | 8.3% | 10.3% |
| Free cash flow yield | 7.5% | 11.1% | 8.3% | 10.7% | 7.8% | 8.0% | 6.7% | 10.5% | 8.5% | 2.1% |
| Dividend yield | 14.9% | 18.6% | 13.5% | 13.4% | 9.4% | 10.8% | 8.2% | 8.6% | 8.3% | 7.5% |
| Shareholder yield (dividends + buybacks) | 14.9% | 18.6% | 14.3% | 13.4% | 9.4% | 10.8% | 8.2% | 8.6% | 11.2% | 7.9% |
| Share price at fiscal year-end | $4.78 | $5.89 | $10.36 | $10.29 | $14.54 | $11.91 | $15.84 | $13.04 | $12.90 | $13.73 |
| Per share | ||||||||||
| Revenue per share | $1.56 | $1.28 | $1.71 | $2.09 | $2.39 | $2.37 | $2.68 | $1.93 | $1.62 | $1.58 |
| Earnings per share | −$0.02 | −$0.64 | −$0.72 | $0.57 | $1.42 | $0.66 | $1.28 | $1.35 | $1.07 | $1.41 |
| Operating cash flow per share | $0.39 | $0.65 | $0.86 | $1.10 | $1.13 | $0.96 | $1.12 | $1.37 | $1.10 | $0.30 |
| Free cash flow per share | $0.36 | $0.65 | $0.86 | $1.10 | $1.13 | $0.95 | $1.07 | $1.37 | $1.10 | $0.29 |
| Cash per share | $0.53 | $1.17 | $2.55 | $3.25 | $1.19 | $2.25 | $0.18 | $0.39 | $0.99 | $1.66 |
| Book value per share | $9.28 | $9.92 | $11.53 | $14.34 | $15.90 | $14.25 | $14.78 | $14.85 | $14.68 | $15.06 |
| Tangible book value per share | $8.98 | $9.48 | $11.53 | $14.34 | $15.90 | $14.25 | $14.78 | $14.85 | $14.68 | $15.06 |
| Dividends per share | $0.71 | $1.10 | $1.40 | $1.38 | $1.37 | $1.29 | $1.30 | $1.12 | $1.07 | $1.03 |
| Capex per share | $0.03 | $0.01 | $0.00 | $0.00 | $0.00 | $0.01 | $0.06 | $0.00 | $0.00 | $0.01 |
| Debt per share | $19.08 | $21.53 | $29.79 | $33.31 | $44.58 | $43.11 | $65.73 | $41.64 | $72.90 | $52.91 |
| Shares outstanding | 54.9M | 54.4M | 54.3M | 52.1M | 42.7M | 33.2M | 28.8M | 28.7M | 28.6M | 28.5M |
| Change in shares outstanding | +0.8% | +0.3% | +4.1% | +22.1% | +28.6% | +15.1% | +0.7% | +0.4% | +0.1% | −0.3% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −0.2% | −6.0% | −5.7% | 4.2% | 10.5% | 4.9% | 8.7% | 9.1% | 7.2% | 9.1% |
| Return on invested capital (ROIC) | 3.1% | 1.3% | −0.9% | 3.9% | 2.8% | 1.1% | 1.9% | 4.9% | 1.4% | 1.7% |
| Return on assets (ROA) | −0.1% | −1.7% | −1.6% | 1.2% | 2.7% | 1.2% | 2.2% | 2.3% | 1.9% | 2.9% |
| Return on tangible assets | −0.1% | −2.0% | −1.7% | 1.2% | 2.3% | 1.1% | 2.1% | 2.4% | 1.7% | 2.9% |
| Free cash flow margin | 23.1% | 51.0% | 50.4% | 52.4% | 47.2% | 40.0% | 39.8% | 70.9% | 67.5% | 18.1% |
| Income quality (OCF / net income) | — | — | — | 1.92 | 0.80 | 1.45 | 0.88 | 1.02 | 1.03 | 0.21 |
| Financial health | ||||||||||
| Total debt | $1.05B | $1.17B | $1.62B | $1.74B | $1.90B | $1.43B | $1.90B | $1.19B | $2.08B | $1.51B |
| Cash & short-term investments | $29.3M | $63.8M | $138.5M | $169.2M | $50.6M | $74.8M | $5.3M | $11.1M | $28.3M | $47.3M |
| Net debt | $1.02B | $1.11B | $1.48B | $1.57B | $1.85B | $1.36B | $1.89B | $1.18B | $2.05B | $1.46B |
| Debt / equity | 2.06 | 2.17 | 2.58 | 2.32 | 2.80 | 3.03 | 4.45 | 2.80 | 4.97 | 3.51 |
| Debt / assets | 0.65 | 0.67 | 0.71 | 0.69 | 0.72 | 0.74 | 1.06 | 0.74 | 1.18 | 1.10 |
| Net debt / EBITDA | 14.49 | 29.86 | — | 220.88 | 26.06 | 58.75 | 49.53 | 11.59 | 52.66 | 47.39 |
| Current ratio | 0.08 | 4.21 | 5.94 | 24.52 | 0.22 | 6.45 | 0.08 | 96.90 | 0.00 | 0.00 |
| Quick ratio | 0.08 | 4.21 | 5.94 | 24.58 | 0.23 | 6.45 | 0.08 | 94.65 | −0.00 | −0.00 |
| Interest coverage | 0.9 | 0.3 | -0.2 | 1.5 | 1.2 | 0.4 | 0.6 | 1.6 | 0.6 | 0.8 |
| Working capital | −$803.7M | $1.22B | $121.5M | $2.46B | −$638.2M | $1.59B | −$513.6M | $51.9M | −$744.0M | −$578.3M |
| Invested capital | $1.53B | $1.65B | $2.10B | $2.31B | $2.53B | $1.83B | $2.32B | $1.61B | $2.47B | $1.89B |
| Tangible asset value | $492.7M | $516.4M | $625.8M | $747.5M | $678.6M | $473.0M | $426.3M | $425.6M | $419.2M | $429.7M |
| Net current asset value | −$1.04B | $383.8M | −$1.51B | $785.6M | −$1.77B | $427.5M | −$1.31B | −$1.13B | −$1.35B | −$943.8M |
| Graham number | — | — | — | $13.58 | $22.51 | $14.52 | $20.65 | $21.21 | $18.76 | $21.89 |
| Graham net-net per share | −$19.42 | −$0.13 | −$27.42 | −$28.97 | −$42.31 | −$1.14 | −$45.78 | −$39.32 | −$46.28 | −$31.42 |
| Capital allocation | ||||||||||
| Dividends paid | $39.0M | $59.6M | $76.0M | $71.8M | $58.4M | $42.8M | $37.5M | $32.1M | $30.5M | $29.4M |
| Share buybacks (net) | $0 | $0 | $4.6M | $0 | $0 | $0 | — | $0 | $10.7M | $1.4M |
| Dividend payout ratio | — | — | — | 241.1% | 96.6% | 195.8% | 101.3% | 83.1% | 100.4% | 72.9% |
| Dividends + buybacks / free cash flow | 197.8% | 167.8% | 172.2% | 125.6% | 121.2% | 135.8% | 121.8% | 81.8% | 131.7% | 376.8% |
| Capex / revenue | 1.9% | 0.5% | 0.0% | 0.0% | 0.1% | 0.3% | 2.2% | 0.0% | 0.0% | 0.8% |
| Capex / operating cash flow | 7.6% | 1.0% | 0.0% | 0.0% | 0.3% | 0.9% | 5.2% | 0.0% | 0.0% | 4.1% |
| Capex / depreciation | 0.19 | 0.07 | 0.00 | — | 0.01 | 0.31 | 2.53 | 0.00 | 0.00 | 2.12 |
| Stock-based compensation / revenue | 4.6% | 6.8% | 4.3% | 2.6% | 1.9% | 1.7% | 2.4% | 2.0% | 1.3% | 0.7% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 11.5% | 35.8% | 15.8% | 9.3% | 7.6% | 9.4% | 9.3% | 12.4% | 14.5% | 13.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 3,289.2 | 4,077.5 | 330.3 | 441.3 | 3,438.0 | 4,253.6 | 224.0 | 176.2 | 4.5 | 155.8 |
| Days of inventory on hand | — | — | — | -33.1 | -29.3 | 0.0 | 9.7 | 6.6 | 52.8 | 17.2 |
| Days payables outstanding | 7.9 | 27.6 | 8.1 | 8.6 | 9.5 | 5.3 | 10.0 | 2.5 | 292.2 | 310.1 |
| Cash conversion cycle (days) | 3,281.3 | 4,049.9 | 322.2 | 399.5 | 3,399.2 | 4,248.4 | 223.7 | 180.3 | -234.9 | -137.1 |
| Receivables turnover | 0.11 | 0.09 | 1.11 | 0.83 | 0.11 | 0.09 | 1.63 | 2.07 | 80.75 | 2.34 |
| Payables turnover | 46.48 | 13.24 | 45.18 | 42.34 | 38.62 | 69.09 | 36.51 | 147.48 | 1.25 | 1.18 |
| Inventory turnover | — | — | — | — | — | 38,312,000.00 | 37.61 | 55.32 | 6.91 | 21.19 |
| Asset turnover | 0.05 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 | 0.05 | 0.03 | 0.03 | 0.03 |
| Average receivables | $769.1M | $778.1M | $84.1M | $131.8M | $961.4M | $917.0M | $47.4M | $26.7M | $574,000 | $19.3M |
| Average payables | $783,000 | $1.8M | $2.1M | $1.2M | $480,500 | $554,500 | $629,500 | $477,500 | $5.3M | $5.2M |
| Average inventory | — | — | — | −$4.8M | −$1.5M | $1 | $611,000 | $1.3M | $951,000 | $289,000 |
| Intangibles / total assets | 1.0% | 1.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from ACRE's annual financial statements (latest annual report filed February 10, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ACRE valuation and financial ratios
Ares Commercial Real Estate earned a return on equity of −0.2% and a return on invested capital of 3.1% in fiscal 2025. It ended the year with $1.0 billion of debt and $29.3 million in cash and short-term investments, net debt of $1.0 billion. It returned $39.0 million to shareholders: $39.0 million in dividends and $0 in share buybacks, 198% of free cash flow. The share count rose 92.4% from 28.5M to 54.9M over 9 years.
See the ACRE income statement, the ACRE chart for price history, or the ACRE stock overview for the latest quote and news.
ACRE key metrics FAQ
What is Ares Commercial Real Estate's EV/EBITDA?
Ares Commercial Real Estate's enterprise value was 18.2 times EBITDA at the end of fiscal 2025 (enterprise value $1.3 billion, EBITDA $70.3 million); the current EV/EBITDA is 15.5.
What is Ares Commercial Real Estate's return on equity?
Ares Commercial Real Estate's return on equity (ROE) was −0.2% in fiscal 2025: net income of -$0.9 million on average shareholders' equity of $524.9 million.
What is Ares Commercial Real Estate's ROIC?
Ares Commercial Real Estate's return on invested capital was 3.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Ares Commercial Real Estate have?
Ares Commercial Real Estate had total debt of $1.0 billion at the end of fiscal 2025, a debt-to-equity ratio of 2.06 and $1.0 billion of net debt (14.49 times EBITDA).
What is Ares Commercial Real Estate's dividend yield?
Ares Commercial Real Estate's forward dividend yield is 17.39%. Ares Commercial Real Estate paid $39.0 million in dividends in fiscal 2025 ($0.71 per share), a payout ratio of —.
What is Ares Commercial Real Estate's free cash flow yield?
Ares Commercial Real Estate generated $19.7 million of free cash flow in fiscal 2025, a free cash flow yield of 7.5% on its market value at year-end ($262.4 million).
What is Ares Commercial Real Estate's current ratio?
Ares Commercial Real Estate's current ratio was 0.08 at the end of fiscal 2025: current assets were 0.08 times current liabilities.