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Ares Commercial Real Estate Corporation

ACRE Real Estate Reit Mortgage

Ares Commercial Real Estate Corporation’s revenue for fiscal 2025 (year ended December 2025) was $54.8 million, down 21.3% from fiscal 2024.

Revenue
+14.3%
EPS
+140.0%
Free cash flow
+1,481.2%
Total debt
+42.2%

Quarter to June 2026, against a year earlier

3.77 0.37 +10.88%
Market cap
$188.6M
P/E
0.0×
Fwd P/E
48.0×
Dividend yield
17.6%
F-score
n/a
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.18
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — 3 — — — — — — — — — —
Insider Ownership 6.15%

Capital & Financial Ratios $m

Size
Market Cap 188.64
Revenue ttm 55.14
Net income ttm (4.43)
Free cash flow ttm 18.00
Net debt Q 1,204.17
Valuation
P/E 0.00
Forward P/E 48.00 (above 35: high)
Price / sales 3.42
Forward P/S Powerpack
Price / FCF 10.49
Price / book 0.39
Financial health
Current ratio Q 0.00
Debt / equity Q 2.58
Interest coverage Q 0.00
Growth
Revenue growth Q +14.25% (above 0%: growing)
Operating income growth Q +196.75% (above 0%: growing)
EPS, this year +309.23% (at or above 15%: strong)
EPS, next year A +45.63% (at or above 15%: strong)
Revenue, next year A +1.73%
EPS, past 5 yrs —
EPS, next 5 yrs A −16.36% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 26.2×, against a ten-year median of 24.0×; over the ten years it ranged from 16.5× in 2025 to 37.6× in 2016.
P/S against its own 10 years 3.23%
10-year low 10-year high
P/B against its own 10 years 0.99%
10-year low 10-year high
EV/Sales against its own 10 years 62.71%
10-year low 10-year high
EV/FCF against its own 10 years 94.15%
10-year low 10-year high

Dividends

Yield
17.6%
Annual rate
0.60
Payout ratio
—
Growth, 2017–25
−7.08%/yr
  1. 1.08 ’17
  2. 1.16 ’18 +7
  3. 1.32 ’19 +14
  4. 1.32 ’20 +0
  5. 0.66 ’21 −50
  6. 0.99 ’22 +50
  7. 1.32 ’23 +33
  8. 1.00 ’24 −24
  9. 0.60 ’25 −40
  10. 0.60 ’26e −1
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 110 66 67 59
Receivables — — — —
Inventory — — — —
Other — — — —
149 66 67 59
2021 2022 2023 Q'24
Payables — — — —
ST’ Debt — — — —
Other — — — —
50 104 105 105

Compound Annual Growth %

10y 5y 3y
Sales 0.93% (7.89%) (19.94%)
Cash Flow (22.57%) (7.63%) (27.98%)
Earnings 0.00% 0.00% 0.00%
Book Value 1.11% 1.50% (11.99%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.08 Actual 0.12

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 −0.09 0.10 Beat by 0.19
Q4 FY25 0.01 0.15 Beat by 0.14
Q1 FY26 0.08 0.06 Miss by 0.02
Q2 FY26 0.08 0.12 Beat by 0.04
Q3 FY26 0.09 — Reports 6 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.17) 0.08 — — —
’25 0.17 (0.20) 0.08 (0.07) (0.02)
’24 (0.23) (0.11) (0.11) (0.20) (0.64)
’23 (0.12) (0.04) 0.17 (0.73) (0.72)
’22 0.34 0.20 0.01 0.05 0.57
’21 0.45 0.43 0.21 0.36 1.42
’20 (0.54) 0.29 0.44 0.43 0.66
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 13 14 — — —
’25 15 13 14 13 55
’24 19 17 17 18 70
’23 27 25 24 18 93
’22 24 25 27 30 107
’21 21 24 27 30 102
’20 21 18 22 21 83
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (57) 64 — — —
’25 8 5 4 5 21
’24 11 9 8 7 36
’23 11 12 14 10 47
’22 16 13 13 15 57
’21 10 10 10 18 48
’20 8 6 9 9 32
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (57) 63 — — —
’25 8 4 3 9 25
’24 11 9 8 19 48
’23 11 12 14 10 47
’22 54 13 13 15 95
’21 10 10 10 18 48
’20 8 6 9 9 31
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 45 46 55 77 83 102 107 93 70 55 55 +2.2% 56 60 57 +1.3%
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 31 31 39 38 22 61 30 (39) (35) (1) (4) n/m
EBT margin, % 68.02 66.04 70.62 48.55 26.84 59.94 28.32 (41.87) (50.27) (1.13) (7.73) (69.1) pt
Net income 45 30 39 37 22 60 30 (39) (35) (1) (4) n/m
Per share, $
Per share, $ Revenue 1.58 1.63 1.94 2.70 2.51 2.41 2.07 1.71 1.28 1.00 1.00 (5.0%)
Earnings 1.42 1.07 1.35 1.29 0.66 1.43 0.58 (0.72) (0.64) (0.02) (0.08) n/m
Cash flow (0.16) 1.10 1.37 1.13 0.96 1.14 1.11 0.86 0.65 0.39 0.28 n/m
Capex (0.01) 0.00 0.00 (0.06) (0.01) 0.00 0.74 0.00 0.23 0.06 0.05 n/m
Free cash flow (0.17) 1.10 1.37 1.08 0.95 1.14 1.85 0.86 0.88 0.45 0.33 n/m
Book value 15.10 14.72 14.92 14.90 14.34 16.01 14.46 11.53 9.92 9.28 8.84 (5.3%)
Shares, m 28 28 29 29 33 42 52 54 54 55 55 +7.6%
Valuation, ×
Valuation, × P/E 9.92 11.84 9.59 12.18 18.90 9.96 17.93 0.00 0.00 0.00 0.00 9.0
P/S 8.88 7.86 6.73 5.87 4.75 6.04 5.20 5.98 4.60 4.78 3.42 6.1
P/B 0.93 0.87 0.87 1.06 0.83 0.91 0.74 0.89 0.59 0.51 0.39 0.8
EV/Sales 29.56 37.15 28.35 23.01 21.00 24.38 19.62 21.60 21.20 23.57 26.16 24.9
EV/FCF (275.24) 55.69 40.32 57.79 55.16 51.65 21.98 23.61 30.79 52.72 80.15 11.4
Cash, $m
Cash, $m Operating cash flow (4) 31 39 32 32 48 57 47 36 21 15 n/m
Capex 0 — — (2) 0 0 38 — 12 3 3 n/m
Free cash flow (5) 31 39 31 31 48 95 47 48 25 18 n/m
Balance, $m
Balance, $m Working capital 48 29 11 (49) 13 0 37 45 66 67 59 +3.9%
Net debt 883 1,308 1,146 1,275 1,294 1,822 1,491 1,402 1,106 980 1,204 +1.2%
Shareholders’ equity 430 419 426 426 473 679 748 626 540 510 489 +1.9%
Returns, %
Returns, % ROA 2.93 1.93 2.29 2.18 1.18 2.65 1.16 (1.62) (1.74) (0.05) (0.27) (3.0) pt
ROIC 1.46 1.14 1.55 1.38 1.64 1.53 2.07 1.99 1.20 0.56 0.65 (0.9) pt
ROE 9.10 7.16 9.14 8.68 4.86 10.50 4.18 (5.66) (6.00) (0.17) (0.88) (9.3) pt
People
People Employees 930 1,000 1,075 1,200 1,450 2,100 2,550 2,800 3,200 4,250 — +18.4%
Revenue/emp, $m 0.05 0.05 0.05 0.06 0.06 0.05 0.04 0.03 0.02 0.01 — (13.7%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Ares Commercial Real Estate Corporation vs peers in Reit Mortgage (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ARI Apollo Commercial Real Estate Finance $309.8M 3.0× 10.2× −37.40% (below 0%: shrinking) −8.33% (below 0%: shrinking) −20.13% (below 0%: shrinking) 91.99% 16.46% Compare
NREF NexPoint Real Estate Finance, Inc. $256.2M 3.9× 10.9× +11.50% (above 0%: growing) −57.97% (below 0%: shrinking) −363.98% (below 0%: shrinking) 100.00% 25.54% Compare
CMTG Claros Mortgage Trust, Inc. $241.3M — (loss-making) — (loss-making) −29.16% (below 0%: shrinking) n/m +36.67% (above 0%: growing) 79.10% (44.62%) Compare
REFI Chicago Atlantic Real Estate Finance, Inc. $229.1M 6.5× 6.7× −11.02% (below 0%: shrinking) −16.67% (below 0%: shrinking) +40.10% (above 0%: growing) 100.00% 59.97% Compare
ACRE Ares Commercial Real Estate Corporation $188.6M — (loss-making) 48.0× +14.25% (above 0%: growing) n/m +1,481.15% (above 0%: growing) 100.00% 37.52%
RC Ready Capital Corp $176.8M — (loss-making) — (loss-making) −49.32% (below 0%: shrinking) n/m +231.22% (above 0%: growing) 100.00% 101.65% Compare
ACR ACRES Commercial Realty Corp. $176.4M — (loss-making) — (loss-making) −4.08% (below 0%: shrinking) n/m −57.74% (below 0%: shrinking) 92.55% (26.38%) Compare
MITT TPG Mortgage Investment Trust Inc. $158.7M 6.8× 16.4× +11.99% (above 0%: growing) n/m +110.45% (above 0%: growing) 100.00% 100.45% Compare
AOMR Angel Oak Mortgage REIT Inc. $144.4M — (loss-making) 16.4× +15.82% (above 0%: growing) n/m +63.13% (above 0%: growing) 24.11% (39.27%) Compare
Median of peers $202.9M 5.2× 10.9× −7.55% −16.67% +38.39% 96.28% 21.00%

All 37 Reit Mortgage stocks →

Pay and ownership Proxy statement filed 1 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 263.34k 207.91k 74.96
2024 287.55k (123.87k) 81.40
2023 637.20k 795.45k 123.60
2022 686.08k 425.30k 107.05
2021 760.20k 996.74k 134.29

Ownership

Directors and executive officers, together 2.30%
BlackRock, Inc. 8.80%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Ares Commercial Real Estate Corporation (ACRE) Latest News

6 Nov

Impact 3 · · PR Newswire

22 Sep

Impact 3 · · The Motley Fool

4 Aug

Impact 3 · · The Motley Fool transcript
Impact 3 ·
Impact 3 · · Moby transcript
Impact 3 · · MarketBeat transcript
Impact 3 ·
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9 Jun

Impact 3 · · Zacks

4 Jun

Impact 3 · · Simply Wall St.

9 May

Impact 3 · · MarketBeat

7 May

Impact 4 · · Moby
Impact 4 ·
Impact 4 · · Business Wire

24 Apr

Impact 3 · · Simply Wall St.

25 Mar

Impact 3 · · Simply Wall St.

10 Feb

Impact 4 · · MarketBeat transcript
Impact 4 · · Moby transcript
Impact 4 · · Zacks
Impact 4 · · Associated Press FinanceAssociated Press FinanceAssociated Press FinanceMT NewswiresMT NewswiresZacks
Impact 4 · · Business Wire
Impact 3 · · GuruFocus.com transcript

20 Jan

Impact 4 · · Zacks

12 Jan

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9 Jan

Impact 4 · · Zacks
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Impact 3 · · ZacksZacksZacks
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7 Jan

Impact 4 ·
stockrow.com/ACRE · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com