NYSE : ACRE
Ares Commercial Real Estate Corporation — Financial statements
Real Estate · REIT - Mortgage · United States
Last price 3.36 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 186.04M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest and Dividend Income | 99.65M | 97.59M | 157.72M | 198.61M | 170.17M | 133.63M |
| Total Interest Expense | 67.41M | 65.16M | 105.98M | 109.65M | 65.99M | 50.08M |
| Net Interest Income | 32.24M | 32.43M | 51.73M | 88.96M | 104.18M | 83.55M |
| Other Revenue | 22.89M | 22.40M | 17.92M | 3.97M | 2.67M | 18.52M |
| Revenue Before Loan Losses | 55.14M | 54.83M | 69.65M | 92.93M | 106.85M | 102.07M |
| Provision for Loan Losses | 19.65M | -17.84M | -18.15M | 91.83M | 46.06M | 10.00K |
| Revenue | 35.49M | 72.68M | 87.80M | 1.10M | 60.79M | 102.06M |
| Salaries & Employee Benefits | 3.70M | 3.90M | 4.74M | 3.99M | 2.88M | 1.94M |
| Cost of Services Provided | 18.36M | 19.35M | 20.23M | 22.00M | 25.54M | 20.39M |
| Other Operating Expenses | 15.47M | 18.16M | 12.96M | 2.52M | 4.31M | 18.55M |
| Total Operating Expenses | 37.52M | 41.41M | 37.93M | 28.51M | 32.73M | 40.88M |
| Operating Income | -2.04M | 31.27M | 49.87M | -27.41M | 28.06M | 61.18M |
| EBT Excluding Unusual Items | -2.04M | 31.27M | 49.87M | -27.41M | 28.06M | 61.18M |
| Pretax Income | -4.26M | -617.00K | -35.01M | -38.91M | 30.26M | 61.18M |
| Income Tax Expense | 173.00K | 285.00K | -18.00K | -39.00K | 472.00K | 722.00K |
| Earnings From Continuing Ops. | -4.43M | -902.00K | -34.99M | -38.87M | 29.79M | 60.46M |
| Net Income to Company | -4.43M | -902.00K | -34.99M | -38.87M | 29.79M | 60.46M |
| Net Income | -4.43M | -902.00K | -34.99M | -38.87M | 29.79M | 60.46M |
| Net Income to Common | -4.43M | -902.00K | -34.99M | -38.87M | 29.79M | 60.46M |
| Shares Outstanding (Basic) | 55.14M | 54.89M | 54.45M | 54.28M | 51.68M | 42.40M |
| Shares Outstanding (Diluted) | 55.14M | 54.89M | 54.45M | 54.28M | 52.13M | 42.68M |
| EPS (Basic) | -0.08 | -0.02 | -0.64 | -0.72 | 0.58 | 1.43 |
| EPS (Diluted) | -0.08 | -0.02 | -0.64 | -0.72 | 0.57 | 1.42 |
| Dividend Per Share | 0.60 | 0.60 | 1.00 | 1.32 | 1.32 | 1.32 |
| Operating Margin | -5.74% | 43.02% | 56.80% | -2,489.74% | 46.16% | 59.95% |
| Profit Margin | -12.50% | -1.24% | -39.85% | -3,530.15% | 49.00% | 59.24% |
| Effective Tax Rate | 1.56% | 1.18% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 17.56M | 29.29M | 63.80M | 110.46M | 141.28M | 50.62M |
| Long-Term Investments | 8.68M | 28.06M | 27.94M | |||
| Trading Asset Securities | 6.57M | 2.98M | ||||
| Loans & Lease Receivables | 1.61B | 1.40B | 1.52B | 1.97B | 2.20B | 2.39B |
| Other Receivables | 6.20M | 6.40M | 8.10M | 45.00M | 143.50M | 145.69M |
| Property, Plant & Equipment | 72.01M | 113.28M | 115.32M | 73.35M | 36.60M | |
| Other Intangible Assets | 4.22M | 16.88M | 23.71M | 9.94M | ||
| Restricted Cash | 41.02M | 37.87M | 2.50M | |||
| Other Current Assets | 53.93M | |||||
| Other Long-Term Assets | 11.30M | 11.37M | 8.63M | 7.35M | 5.69M | 5.51M |
| Total Assets | 1.82B | 1.62B | 1.75B | 2.28B | 2.52B | 2.63B |
| Accrued Expenses | 4.20M | 4.32M | 5.10M | 6.40M | 7.49M | 4.73M |
| Current Portion of Long-Term Debt | 430.19M | 588.91M | 359.74M | 613.15M | ||
| Long-Term Debt | 832.55M | 458.55M | 812.63M | 1.62B | 1.74B | 1.31B |
| Other Current Liabilities | 8.46M | 8.44M | 13.92M | 18.22M | 19.35M | 16.67M |
| Other Long-Term Liabilities | 52.64M | 48.36M | 19.68M | 12.32M | 12.06M | 8.61M |
| Total Liabilities | 1.33B | 1.11B | 1.21B | 1.65B | 1.78B | 1.95B |
| Common Stock | 532.00K | 532.00K | 532.00K | 532.00K | 537.00K | 465.00K |
| Additional Paid-In Capital | 822.61M | 820.83M | 816.92M | 812.18M | 812.79M | 703.95M |
| Retained Earnings | -333.91M | -311.79M | -277.36M | -187.02M | -73.33M | -28.63M |
| Comprehensive Income & Other | 37.00K | 153.00K | 7.54M | 2.84M | ||
| Total Common Equity | 489.23M | 509.57M | 540.13M | 625.85M | 747.54M | 678.63M |
| Shareholders' Equity | 489.23M | 509.57M | 540.13M | 625.85M | 747.54M | 678.63M |
| Total Liabilities & Equity | 1.82B | 1.62B | 1.75B | 2.28B | 2.52B | 2.63B |
| Total Debt | 1.26B | 1.05B | 1.17B | 1.62B | 1.74B | 1.92B |
| Net Cash (Debt) | -1.25B | -1.02B | -1.11B | -1.51B | -1.59B | -1.87B |
| Net Cash Per Share | -22.58 | -18.55 | -20.36 | -27.75 | -30.48 | -43.80 |
| Filing Date Shares Outstanding | 55.37M | 55.29M | 54.82M | 54.39M | 54.59M | 47.18M |
| Total Common Shares Outstanding | 55.37M | 54.95M | 54.50M | 54.12M | 54.43M | 47.10M |
| Working Capital | 1.29B | 874.94M | 1.22B | 2.14B | 2.46B | 1.96B |
| Book Value Per Share | 8.84 | 9.27 | 9.91 | 11.57 | 13.73 | 14.41 |
| Tangible Book Value | 485.00M | 492.69M | 516.42M | 615.91M | 747.54M | 678.63M |
| Tangible Book Value Per Share | 8.76 | 8.97 | 9.48 | 11.38 | 13.73 | 14.41 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -4.43M | -902.00K | -34.99M | -38.87M | 29.79M | 60.46M |
| Depreciation & Amortization | 5.46M | 8.47M | 4.76M | 1.02M | 825.00K | |
| Other Amortization | 4.58M | 4.63M | 5.09M | 3.90M | 7.10M | 9.89M |
| Gain on Sale of Loans & Receivables | 4.98M | 34.64M | 83.59M | 10.50M | ||
| Provision for Credit Losses | 19.65M | -17.84M | -19.15M | 92.82M | 46.06M | 10.00K |
| Stock-Based Compensation | 3.70M | 3.90M | 4.74M | 3.99M | 2.88M | 1.94M |
| Change in Other Net Operating Assets | -10.87M | -4.53M | -5.76M | -19.51M | -15.09M | -16.35M |
| Other Operating Activities | -4.92M | -4.27M | -5.02M | -7.06M | -11.38M | -8.43M |
| Operating Cash Flow | 15.40M | 21.35M | 35.55M | 46.79M | 57.16M | 48.35M |
| Investment in Securities | 7.80M | 8.67M | 19.33M | -27.87M | ||
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -448.29M | 93.01M | 389.55M | 126.00M | 172.22M | -707.02M |
| Other Investing Activities | 49.76M | 43.31M | 6.63M | 1.46M | 10.60M | 7.48M |
| Investing Cash Flow | -388.13M | 148.14M | 427.91M | 127.46M | 193.17M | -699.68M |
| Long-Term Debt Issued | 487.55M | 136.76M | 43.67M | 372.19M | 1.62B | |
| Long-Term Debt Repaid | -613.95M | -581.00M | -164.13M | -561.69M | -1.12B | |
| Net Debt Issued (Repaid) | 373.60M | -126.39M | -444.25M | -120.47M | -189.50M | 494.21M |
| Issuance of Common Stock | 106.27M | 204.78M | ||||
| Repurchase of Common Stock | -4.60M | |||||
| Common Dividends Paid | -33.62M | -39.01M | -59.64M | -72.65M | -67.70M | -55.72M |
| Other Financing Activities | -2.81M | -3.23M | -3.74M | -4.05M | -4.63M | -13.39M |
| Financing Cash Flow | 337.17M | -168.63M | -507.63M | -205.07M | -159.67M | 627.17M |
| Net Cash Flow | -35.56M | 863.00K | -44.16M | -30.82M | 90.66M | -24.16M |
| Cash Interest Paid | 61.07M | 61.07M | 102.80M | 103.72M | 57.82M | 40.13M |
| Cash Income Tax Paid | 375.00K | 250.00K | 1.41M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 188.53M | 262.50M | 320.88M | 560.37M | 559.91M | 682.76M |
| PE Ratio | 18.80 | 11.29 | ||||
| PS Ratio | 5.24 | 3.61 | 3.65 | 508.96 | 9.21 | 6.69 |
| PB Ratio | 0.38 | 0.52 | 0.59 | 0.90 | 0.75 | 1.01 |
| P/OCF Ratio | 12.08 | 12.29 | 9.03 | 11.98 | 9.80 | 14.12 |
| Debt / Equity Ratio | 2.58 | 2.06 | 2.17 | 2.58 | 2.32 | 2.83 |
| Net Debt / Equity Ratio | 2.54 | 2.00 | 2.05 | 2.41 | 2.12 | 2.75 |
| Quick Ratio | 3.69 | 2.39 | 4.20 | 86.20 | 92.75 | 4.08 |
| Current Ratio | 3.91 | 2.45 | 4.21 | 87.78 | 92.75 | 4.08 |
| Asset Turnover | 0.02 | 0.04 | 0.04 | 0.00 | 0.02 | 0.04 |
| Return on Equity (ROE) | -0.88% | -0.17% | -6.00% | -5.66% | 4.18% | 10.50% |
| Return on Assets (ROA) | -0.27% | -0.05% | -1.74% | -1.62% | 1.16% | 2.65% |
| Return on Invested Capital (ROIC) | -0.12% | 1.91% | 2.52% | -1.16% | 1.09% | 2.68% |
| Earnings Yield | -2.36% | -0.34% | -10.90% | -6.94% | 5.32% | 8.86% |
| Dividend Yield | 17.59% | 12.56% | 16.98% | 12.75% | 12.83% | 9.11% |
| Payout Ratio | 227.31% | 92.16% | ||||
| Buyback Yield / Dilution | -0.87% | -0.81% | -0.30% | -4.14% | -22.13% | -28.57% |
| Total Shareholder Return | 16.99% | 11.75% | 16.68% | 8.61% | -9.30% | -19.47% |