Ares Commercial Real Estate Corporation (ACRE) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
245 PARK AVENUE NEW YORK, NY 10167 |
| State of Incorp. | MD |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6798 - Real Estate Investment Trusts (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 110,459 | 141,278 | 50,615 | 74,776 | 5,256 | 11,089 | |||
| Cash and cash equivalents | 110,459 | 141,278 | 50,615 | 74,776 | 5,256 | 11,089 | |||
| Receivables | (159,885) | (65,969) | (23,939) | (23,604) | |||||
| Disposal group, including discontinued operation | |||||||||
| Total current assets: | (49,426) | 75,309 | 26,676 | 51,172 | 5,256 | 11,089 | |||
| Noncurrent Assets | |||||||||
| Disposal group, including discontinued operation, noncurrent assets | |||||||||
| Total noncurrent assets: | |||||||||
| Other undisclosed assets | 2,329,203 | 2,447,693 | 2,605,162 | 1,878,325 | 1,778,878 | 1,592,235 | |||
| TOTAL ASSETS: | 2,279,777 | 2,523,002 | 2,631,838 | 1,929,497 | 1,784,134 | 1,603,324 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | |||||||||
| Disposal group, including discontinued operation, liabilities | |||||||||
| Total noncurrent liabilities: | |||||||||
| Other undisclosed liabilities | 1,653,928 | 1,775,462 | 1,953,210 | 1,456,482 | 1,357,795 | 1,177,737 | |||
| Total liabilities: | 1,653,928 | 1,775,462 | 1,953,210 | 1,456,482 | 1,357,795 | 1,177,737 | |||
| Equity | |||||||||
| Equity, attributable to parent | 625,849 | 747,540 | 678,628 | 473,015 | 426,339 | 425,587 | |||
| Common stock | 532 | 537 | 465 | 329 | 283 | 283 | |||
| Additional paid in capital | 812,184 | 812,788 | 703,950 | 497,803 | 423,619 | 421,739 | |||
| Accumulated other comprehensive income | 153 | 7,541 | 2,844 | ||||||
| Retained earnings (accumulated deficit) | (187,020) | (73,326) | (28,631) | (25,117) | 2,437 | 3,565 | |||
| Total equity: | 625,849 | 747,540 | 678,628 | 473,015 | 426,339 | 425,587 | |||
| TOTAL LIABILITIES AND EQUITY: | 2,279,777 | 2,523,002 | 2,631,838 | 1,929,497 | 1,784,134 | 1,603,324 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 92,926 | 106,849 | 102,069 | 82,696 | 77,259 | 118,284 | ||
| Net investment income | 198,608 | 170,171 | 133,631 | 121,052 | 114,784 | 118,284 | ||
| Cost of revenue (Provision for Loan, Lease, and Other Losses) | (91,825) | (46,061) | (10) | (20,185) | ||||
| Gross profit: | 1,101 | 60,788 | 102,059 | 62,511 | 77,259 | 118,284 | ||
| Operating expenses | (7,244) | (6,394) | (4,741) | (3,732) | (4,188) | (3,307) | ||
| Operating income (loss): | (6,143) | 54,394 | 97,318 | 58,779 | 73,071 | 114,977 | ||
| Interest and debt expense | (109,652) | (65,994) | (50,080) | (6,434) | (6,569) | (63,002) | ||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (30,153) | (28,996) | (12,933) | |||||
| Income (loss) from continuing operations before equity method investments, income taxes: | (115,795) | (11,600) | 47,238 | 22,192 | 37,506 | 39,042 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 76,889 | 41,857 | 13,944 | |||||
| Income (loss) from continuing operations before income taxes: | (38,906) | 30,257 | 61,182 | 22,192 | 37,506 | 39,042 | ||
| Income tax expense (benefit) | 39 | (472) | (722) | (352) | (515) | (446) | ||
| Income (loss) from continuing operations: | (38,867) | 29,785 | 60,460 | 21,840 | 36,991 | 38,596 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 60,460 | 21,840 | 36,991 | 38,596 | |
| Net income (loss) available to common stockholders, diluted: | (38,867) | 29,785 | 60,460 | 21,840 | 36,991 | 38,596 | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (38,867) | 29,785 | 60,460 | 21,840 | 36,991 | 38,596 | ||
| Comprehensive income (loss): | (38,867) | 29,785 | 60,460 | 21,840 | 36,991 | 38,596 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (7,388) | 4,697 | 2,844 | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | (46,255) | 34,482 | 63,304 | 21,840 | 36,991 | 38,596 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.