The company maintains a vulnerable capital structure with a debt-to-equity ratio that has oscillated between 0.71 and 1.41, alongside $94.1M in goodwill that may be susceptible to future impairment.
| Total Current Assets | 239.98M | 218.13M | 196.21M | 260.87M | 358.98M | 265.78M | 144.22M |
| Cash & Short-Term Investments | 1.24M | 1.24M | 1.13M | 865K | 1.47M | 4.03M | 1.33M |
| Cash Only | 1.24M | 1.24M | 1.13M | 865K | 1.47M | 4.03M | 1.33M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 103.26M | 107.25M | 92.36M | 104.94M | 98.94M | 111.33M | 70.88M |
| Days Sales Outstanding | 38.98 | 36.81 | 30.63 | 33.06 | 25.48 | 30.7 | 33.36 |
| Inventory | 126.69M | 102.85M | 97.43M | 146.76M | 249.44M | 143.19M | 63.54M |
| Days Inventory Outstanding | 44.62 | 40.34 | 36.6 | 50.79 | 73.72 | 45.81 | 35.33 |
| Other Current Assets | 396K | 0 | 0 | 0 | 0 | 4.89M | 6.13M |
| Total Non-Current Assets | 147.13M | 143.1M | 144.6M | 128.66M | 114.06M | 123.18M | 132.61M |
| Property, Plant & Equipment | 27.79M | 30.5M | 35.07M | 18.28M | 11.64M | 18.99M | 20.59M |
| Fixed Asset Turnover | 37.99x | 34.86x | 31.38x | 63.40x | 121.73x | 69.71x | 37.66x |
| Goodwill | 94.08M | 89.12M | 89.12M | 89.12M | 79.9M | 79.9M | 79.65M |
| Intangible Assets | 19.4M | 18.48M | 13.38M | 17.36M | 18.76M | 23.93M | 29.95M |
| Long-Term Investments | 1.42M | 614K | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 220K | 175K | 503K | 1.02M | 3.75M | 361K | 2.42M |
| Total Assets | 387.1M | 361.23M | 340.81M | 389.53M | 473.04M | 388.96M | 276.83M |
| Asset Turnover | 2.83x | 2.94x | 3.23x | 2.97x | 3.00x | 3.40x | 2.80x |
| Asset Growth % | 21.63% | 5.99% | -12.51% | -17.65% | 21.62% | 40.5% | - |
| Total Current Liabilities | 180.02M | 172.73M | 147.92M | 301.24M | 350.6M | 238.61M | 162.7M |
| Accounts Payable | 158.45M | 155.3M | 133.22M | 151.62M | 198.19M | 214.33M | 146.88M |
| Days Payables Outstanding | 64.26 | 60.91 | 50.05 | 52.47 | 58.57 | 68.57 | 81.66 |
| Short-Term Debt | 6.03M | 0 | 0 | 133.78M | 135.97M | 3M | 0 |
| Deferred Revenue (Current) | 1.3M | 1.3M | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 9.8M | 1.58M | 511K | 150K | 0 | 2.29M | 0 |
| Current Ratio | 1.33x | 1.26x | 1.33x | 0.87x | 1.02x | 1.11x | 0.89x |
| Quick Ratio | 0.63x | 0.67x | 0.67x | 0.38x | 0.31x | 0.51x | 0.50x |
| Cash Conversion Cycle | 19.34 | 16.24 | 17.19 | 31.37 | 40.63 | 7.94 | -12.98 |
| Total Non-Current Liabilities | 87.13M | 85.28M | 105.26M | 8.76M | 13.51M | 70.06M | 61.22M |
| Long-Term Debt | 64.33M | 65.27M | 79.59M | 7.03M | 3.38M | 54.33M | 45.56M |
| Capital Lease Obligations | 68.4M | 19.36M | 25.43M | 8.55M | 8.24M | 9.28M | 10.75M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 5.27M | 0 | 0 |
| Other Non-Current Liabilities | 7.74M | 646K | 247K | -6.82M | -3.38M | 6.45M | 4.91M |
| Total Liabilities | 267.15M | 258.01M | 253.18M | 310M | 364.11M | 308.66M | 223.91M |
| Total Debt | 85.42M | 90.94M | 109.83M | 155.71M | 152.04M | 72.04M | 61.71M |
| Net Debt | 84.19M | 89.7M | 108.7M | 154.84M | 150.57M | 68.01M | 60.37M |
| Debt / Equity | 0.71x | 0.88x | 1.25x | 1.96x | 1.40x | 0.90x | 1.17x |
| Debt / EBITDA | 1.83x | 2.56x | 5.49x | - | 3.02x | 1.21x | 2.46x |
| Net Debt / EBITDA | 1.80x | 2.53x | 5.43x | - | 2.99x | 1.15x | 2.41x |
| Interest Coverage | 4.11x | 2.77x | 1.15x | -2.80x | 10.38x | 16.31x | 2.63x |
| Total Equity | 119.95M | 103.22M | 87.63M | 79.53M | 108.93M | 80.3M | 52.92M |
| Equity Growth % | 86.84% | 17.79% | 10.18% | -26.98% | 35.65% | 51.75% | - |
| Book Value per Share | 0.00 | 2.03 | 1.72 | 1.65 | 7.58 | 1.69 | 7.68 |
| Total Shareholders' Equity | 119.95M | 103.22M | 87.63M | 79.53M | 108.93M | 80.3M | 52.92M |
| Common Stock | 5K | 5K | 5K | 5K | 5K | 0 | 0 |
| Retained Earnings | 71.3M | 54.72M | 39.65M | 35.06M | 71.67M | 43.05M | 8.87M |
| Treasury Stock | 0 | 0 | 0 | 0 | -2.67M | -2.67M | -2.67M |
| Accumulated OCI | -76K | -76K | -79K | -77K | -66K | -73K | -88K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Precarious liquidity and leverage
According to the provided quarterly financial data, AENT's total assets have fluctuated significantly between $324M and $434M over the last ten quarters, suggesting that the company's balance sheet trajectory is driven more by seasonal inventory cycles than by long-term capital accumulation or sustainable asset growth.
The erratic movement in total assets and liabilities indicates a business model that is highly reactive to short-term retail demand rather than one building long-term value. Investors should monitor whether this volatility represents a permanent state of operational instability or if management can stabilize the asset base through more disciplined inventory management.
Based on reported financial statements, AENT's debt-to-equity ratio has oscillated between 0.71 and 1.41 over the past ten quarters, indicating that the company relies heavily on debt financing to manage its working capital requirements in a low-margin, high-volume distribution environment.
The reliance on debt to bridge the gap between inventory procurement and retail payment collection suggests that the company's financial flexibility is limited. This leverage profile warrants further investigation into the terms of their credit facilities, as any tightening of lending standards could pose a material risk to ongoing operations.
As reported in recent filings, AENT maintains a precarious liquidity position with cash reserves as low as $1.2M against quarterly revenues exceeding $250M, which suggests that the company operates with virtually no margin for error regarding unexpected supply chain disruptions or delays in customer payments.
A current ratio hovering around 1.30 provides a superficial appearance of solvency, but the absolute cash level is alarmingly low for a business of this scale. This lack of a cash buffer implies that the company is perpetually one major operational hiccup away from a liquidity crisis.
Data from the balance sheet shows that retained earnings have grown from $40.5M in 2024Q2 to $71.3M in 2026Q3, yet this accumulation appears insufficient to offset the risks inherent in the company's thin-margin business model and reliance on external debt for operational funding.
While the growth in retained earnings is a positive signal, the quality of equity is potentially undermined by the company's persistent need to leverage its balance sheet. Investors should consider whether this equity base is robust enough to absorb potential goodwill impairments or future operational losses in a declining physical media market.
Analysis of the balance sheet reveals that goodwill accounts for approximately $94.1M of total assets as of 2026Q3, which represents a significant portion of the company's equity and suggests that the valuation of past acquisitions may be vulnerable to impairment if market conditions for physical media deteriorate.
The high concentration of intangible assets relative to tangible equity makes the balance sheet sensitive to any downward revision in the long-term outlook for physical media distribution. This reliance on goodwill as a primary asset component warrants further investigation into the underlying assumptions used for impairment testing.
Quick answers to the most common questions about buying AENT stock.
As of 2025, Alliance Entertainment Holding Corporation (AENT) had total assets of $361.2M including $218.1M in current assets.
Alliance Entertainment Holding Corporation (AENT) carries total debt of $90.9M, offset by $1.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Alliance Entertainment Holding Corporation (AENT) has total shareholders' equity (book value) of $103.2M ($2.03 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Alliance Entertainment Holding Corporation (AENT) reported a current ratio of 1.26x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.