NYSE : ARL
American Realty Investors, Inc. — Financial statements
Real Estate · Real Estate Services · United States
Last price 17.89 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 288.96M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 47.32M | 46.37M | 44.76M | 47.02M | 34.08M | 37.81M |
| Other Revenue | 4.40M | 3.77M | 4.00M | 6.72M | 472.73M | 18.86M |
| Total Revenue | 51.72M | 50.13M | 48.77M | 53.74M | 506.81M | 56.67M |
| Property Expenses | 30.88M | 27.89M | 27.06M | 27.90M | 18.34M | 20.86M |
| Selling, General & Administrative | 15.55M | 15.98M | 14.62M | 20.20M | 18.79M | 29.93M |
| Depreciation & Amortization | 13.96M | 12.58M | 12.28M | 13.65M | 9.69M | 11.87M |
| Total Operating Expenses | 60.40M | 56.44M | 53.96M | 61.74M | 46.81M | 62.66M |
| Operating Income | -8.67M | -6.31M | -5.19M | -8.00M | 460.00M | -5.98M |
| Interest Expense | -9.00M | -6.83M | -7.84M | -9.50M | -17.53M | -23.42M |
| Interest & Investment Income | 13.91M | 14.64M | 19.97M | 26.85M | 26.56M | 17.76M |
| Currency Exchange Gain (Loss) | 993.00K | 20.07M | -6.17M | |||
| EBT Excluding Unusual Items | -3.76M | 1.50M | 6.94M | 10.34M | 489.10M | -17.82M |
| Gain (Loss) on Sale of Assets | 16.35M | 19.99M | -23.99M | -1.92M | 87.13M | 24.65M |
| Other Unusual Items | -284.00K | -284.00K | -1.71M | -2.81M | -1.45M | |
| Pretax Income | 12.30M | 21.21M | -17.05M | 6.71M | 573.42M | 5.38M |
| Income Tax Expense | 2.35M | 2.67M | -3.61M | 1.46M | 98.11M | -1.07M |
| Earnings From Continuing Operations | 9.95M | 18.54M | -13.44M | 5.25M | 475.32M | 6.45M |
| Net Income to Company | 9.95M | 18.54M | -13.44M | 5.25M | 475.32M | 6.45M |
| Minority Interest in Earnings | -1.60M | -2.84M | -1.26M | -1.28M | -101.97M | -3.10M |
| Net Income | 8.35M | 15.70M | -14.70M | 3.97M | 373.35M | 3.35M |
| Net Income to Common | 8.35M | 15.70M | -14.70M | 3.97M | 373.35M | 3.35M |
| Basic Shares Outstanding | 16.15M | 16.15M | 16.15M | 16.15M | 16.15M | 16.15M |
| Diluted Shares Outstanding | 16.15M | 16.15M | 16.15M | 16.15M | 16.15M | 16.15M |
| EPS (Basic) | 0.52 | 0.97 | -0.91 | 0.25 | 23.11 | 0.21 |
| EPS (Diluted) | 0.52 | 0.97 | -0.91 | 0.25 | 23.11 | 0.21 |
| Operating Margin | -16.77% | -12.59% | -10.65% | -14.88% | 90.76% | -10.56% |
| Profit Margin | 16.14% | 31.32% | -30.15% | 7.38% | 73.67% | 5.91% |
| EBITDA | 5.35M | 6.32M | 7.34M | 6.57M | 473.11M | 9.04M |
| EBITDA Margin | 10.35% | 12.61% | 15.05% | 12.23% | 93.35% | 15.96% |
| D&A For Ebitda | 14.03M | 12.63M | 12.53M | 14.57M | 13.11M | 15.03M |
| EBIT | -8.67M | -6.31M | -5.19M | -8.00M | 460.00M | -5.98M |
| EBIT Margin | -16.77% | -12.59% | -10.65% | -14.88% | 90.76% | -10.56% |
| Funds From Operations (FFO) | 8.09M | 13.25M | 22.86M | 20.00M | 43.27M | 18.82M |
| Adjusted Funds From Operations (AFFO) | 13.54M | 22.86M | 20.71M | 41.27M | 26.45M | |
| Effective Tax Rate | 19.11% | 12.58% | 21.71% | 17.11% | ||
| Revenue as Reported | 51.05M | 50.01M | 47.32M | 50.50M | 37.54M | 42.04M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 603.22M | 602.43M | 557.39M | 501.59M | 493.82M | 296.36M |
| Total Real Estate Assets | 603.22M | 602.43M | 557.39M | 501.59M | 493.82M | 296.36M |
| Cash & Equivalents | 10.85M | 14.18M | 19.92M | 36.74M | 113.44M | 50.75M |
| Accounts Receivable | 165.54M | 164.50M | 156.05M | 96.53M | 108.18M | 100.60M |
| Other Receivables | 58.55M | 57.69M | 16.65M | 2.01M | 4.66M | |
| Investment In Debt and Equity Securities | 73.44M | 74.96M | 79.80M | 90.45M | 119.79M | 16.00M |
| Restricted Cash | 11.24M | 15.23M | 20.56M | 42.33M | 108.88M | 21.99M |
| Other Current Assets | 9.82M | 8.38M | 12.31M | |||
| Deferred Long-Term Tax Assets | 977.00K | 977.00K | 5.71M | |||
| Other Long-Term Assets | 16.54M | 16.54M | 26.07M | 109.70M | 109.09M | 148.26M |
| Total Assets | 1.09B | 1.10B | 1.03B | 1.02B | 1.20B | 770.57M |
| Current Portion of Long-Term Debt | 29.35M | 2.81M | 10.94M | 96.67M | ||
| Long-Term Debt | 188.68M | 211.56M | 174.46M | 182.68M | 220.55M | 372.84M |
| Accounts Payable | 44.34M | 49.60M | 31.50M | 10.85M | 52.50M | 43.90M |
| Accrued Expenses | 4.33M | 3.81M | 3.24M | 2.63M | 5.20M | 6.57M |
| Long-Term Unearned Revenue | 9.79M | 9.79M | 9.79M | 9.79M | 9.79M | 9.79M |
| Other Long-Term Liabilities | 30.00K | 601.00K | 1.02M | 599.00K | 616.00K | |
| Total Liabilities | 276.48M | 277.60M | 230.53M | 206.97M | 385.31M | 433.72M |
| Preferred Stock, Convertible | 1.80M | 1.80M | 1.80M | 1.80M | 1.80M | 1.80M |
| Common Stock | 162.00K | 162.00K | 162.00K | 162.00K | 162.00K | 162.00K |
| Additional Paid-In Capital | 63.84M | 61.04M | 61.16M | 61.64M | 62.09M | 62.09M |
| Retained Earnings | 552.84M | 554.40M | 538.70M | 553.40M | 549.43M | 176.09M |
| Total Common Equity | 616.85M | 615.60M | 600.02M | 615.20M | 611.69M | 238.34M |
| Minority Interest | 195.01M | 202.32M | 200.45M | 199.51M | 198.68M | 96.71M |
| Shareholders' Equity | 813.65M | 819.73M | 802.27M | 816.51M | 812.17M | 336.85M |
| Total Liabilities & Equity | 1.09B | 1.10B | 1.03B | 1.02B | 1.20B | 770.57M |
| Total Debt | 218.03M | 214.37M | 185.40M | 182.68M | 317.22M | 372.84M |
| Net Cash (Debt) | -207.18M | -200.19M | -165.48M | -145.94M | -203.78M | -322.10M |
| Net Cash Per Share | -12.83 | -12.39 | -10.25 | -9.04 | -12.62 | -19.94 |
| Filing Date Shares Outstanding | 16.15M | 16.15M | 16.15M | 16.15M | 16.15M | 16.15M |
| Total Common Shares Outstanding | 16.15M | 16.15M | 16.15M | 16.15M | 16.15M | 16.15M |
| Book Value Per Share | 38.19 | 38.11 | 37.15 | 38.09 | 37.87 | 14.76 |
| Tangible Book Value | 616.85M | 615.60M | 600.02M | 615.20M | 611.69M | 238.34M |
| Tangible Book Value Per Share | 38.19 | 38.11 | 37.15 | 38.09 | 37.87 | 14.76 |
| Land | 117.51M | 113.36M | 104.08M | 104.16M | 108.93M | 67.51M |
| Buildings | 496.52M | 500.29M | 375.43M | 372.40M | 359.90M | 219.33M |
| Construction In Progress | 63.50M | 56.16M | 140.05M | 76.11M | 65.43M | 51.09M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 8.35M | 15.70M | -14.70M | 3.97M | 373.35M | 3.35M |
| Depreciation & Amortization | 14.03M | 12.63M | 12.53M | 14.57M | 13.11M | 15.03M |
| Gain (Loss) on Sale of Assets | -16.35M | -19.99M | 23.99M | 1.92M | -87.13M | -24.65M |
| Income (Loss) on Equity Investments | -671.00K | -119.00K | -186.00K | -3.24M | -464.07M | -11.48M |
| Change in Accounts Receivable | -2.25M | -6.01M | -1.01M | -11.08M | -7.58M | 18.25M |
| Change in Accounts Payable | 4.96M | -1.51M | -14.70M | -28.79M | 39.05M | -2.56M |
| Change in Other Net Operating Assets | -7.04M | -9.48M | -6.27M | -11.99M | 6.46M | -18.86M |
| Other Operating Activities | 1.89M | 3.12M | 1.26M | 2.00M | 84.71M | 10.72M |
| Operating Cash Flow | 3.25M | -5.55M | 1.09M | -31.05M | -45.39M | -11.52M |
| Acquisition of Real Estate Assets | -37.66M | -79.49M | -57.93M | -18.46M | -18.69M | -8.07M |
| Sale of Real Estate Assets | 31.99M | 34.80M | 1.34M | 188.00K | 44.59M | 105.55M |
| Net Sale / Acq. of Real Estate Assets | -5.67M | -44.70M | -56.59M | -18.27M | 25.91M | 97.48M |
| Investment in Marketable & Equity Securities | -16.66M | 3.57M | 10.65M | 50.75M | 281.89M | -8.98M |
| Other Investing Activities | 9.81M | 8.59M | 5.79M | -4.53M | 722.00K | 13.20M |
| Investing Cash Flow | -12.73M | -33.05M | -41.34M | 26.81M | 307.36M | 100.82M |
| Long-Term Debt Issued | 63.78M | 15.11M | 20.02M | |||
| Long-Term Debt Repaid | -35.15M | -12.45M | -137.66M | -111.02M | -118.90M | |
| Net Debt Issued (Repaid) | 1.76M | 28.63M | 2.66M | -137.66M | -111.02M | -98.89M |
| Repurchase of Common Stock | -4.37M | -1.08M | -802.00K | -908.00K | ||
| Other Financing Activities | -37.00K | -199.00K | -455.00K | -1.35M | -4.70M | |
| Net Cash Flow | -12.13M | -11.06M | -38.59M | -143.26M | 149.59M | -14.29M |
| Levered Free Cash Flow | -1.23M | -17.13M | -39.05M | 40.28M | 197.74M | 70.07M |
| Unlevered Free Cash Flow | 4.39M | -12.86M | -34.15M | 46.21M | 208.70M | 84.70M |
| Cash Interest Paid | 7.32M | 5.56M | 6.35M | 11.01M | 22.21M | 28.89M |
| Cash Income Tax Paid | 2.35M | 2.28M | 3.40M | 38.07M | 55.29M | 910.00K |
| Change in Working Capital | -4.33M | -17.01M | -21.97M | -51.87M | 37.93M | -3.17M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 298.01M | 259.40M | 237.11M | 281.21M | 414.30M | 204.32M |
| Enterprise Value | 505.18M | 676.87M | 583.51M | 619.37M | 756.56M | 609.53M |
| Last Close Price | 18.45 | 16.06 | 14.68 | 17.41 | 25.65 | 12.65 |
| PE Ratio | 35.69 | 16.52 | 70.87 | 1.11 | 61.05 | |
| PS Ratio | 5.76 | 5.17 | 4.86 | 5.23 | 0.82 | 3.60 |
| PB Ratio | 0.48 | 0.32 | 0.30 | 0.34 | 0.51 | 0.61 |
| P/OCF Ratio | 91.69 | 217.73 | ||||
| EV/Sales Ratio | 9.77 | 13.50 | 11.96 | 11.53 | 1.49 | 10.76 |
| EV/EBITDA Ratio | 94.36 | 107.03 | 79.49 | 94.23 | 1.60 | 67.39 |
| EV/EBIT Ratio | 1.65 | |||||
| Debt / Equity Ratio | 0.27 | 0.26 | 0.23 | 0.22 | 0.39 | 1.11 |
| Debt / EBITDA Ratio | 40.72 | 33.90 | 25.26 | 27.79 | 0.67 | 41.22 |
| Net Debt / Equity Ratio | 0.26 | 0.24 | 0.21 | 0.18 | 0.25 | 0.96 |
| Net Debt / EBITDA Ratio | 38.70 | 31.66 | 22.54 | 22.20 | 0.43 | 35.61 |
| Asset Turnover | 0.05 | 0.05 | 0.05 | 0.05 | 0.52 | 0.07 |
| Quick Ratio | 3.01 | 4.20 | 4.22 | 10.03 | 1.47 | 3.00 |
| Current Ratio | 3.28 | 4.62 | 4.94 | 13.17 | 2.17 | 3.44 |
| Return on Equity (ROE) | 1.23% | 2.29% | -1.66% | 0.65% | 82.73% | 1.93% |
| Return on Assets (ROA) | -0.50% | -0.37% | -0.32% | -0.45% | 29.22% | -0.46% |
| Return on Invested Capital (ROIC) | -0.68% | -0.55% | -0.52% | -0.59% | 41.47% | -0.79% |
| Earnings Yield | 2.80% | 6.05% | -6.20% | 1.41% | 90.12% | 1.64% |
| Buyback Yield / Dilution | -0.66% |