The company's financial flexibility is increasingly constrained as the debt-to-equity ratio climbed from 0.92 in 2023Q4 to 2.28 in 2026Q1, reflecting significant balance sheet erosion.
a.k.a. Brands Holding Corp. (AKA) balance sheet — 7-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 |
|---|
| Total Current Assets | 124.14M | 129.47M | 144.77M | 135.69M | 197.6M | 184.33M | 65.49M | 30.22M |
| Cash & Short-Term Investments | 21.05M | 20.27M | 24.19M | 21.86M | 46.32M | 38.83M | 27.1M | 5.79M |
| Cash Only | 21.05M | 20.27M | 24.19M | 21.86M | 46.32M | 38.83M | 27.1M | 5.79M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 9.63M | 10.65M | 8.11M | 4.8M | 3.23M | 2.66M | 1.18M | 399K |
| Days Sales Outstanding | 9.36 | 6.48 | 5.15 | 3.2 | 1.93 | 1.73 | 2 | 1.42 |
| Inventory | 79.91M | 88.82M | 95.75M | 91.02M | 126.53M | 115.78M | 36.85M | 23.76M |
| Days Inventory Outstanding | 123.58 | 118.36 | 141.38 | 135.07 | 168.26 | 166.04 | 150.24 | 186.23 |
| Other Current Assets | 0 | 7.09M | 10.03M | 13.03M | 9.42M | 8M | 358K | 265K |
| Total Non-Current Assets | 280.9M | 267.91M | 240.44M | 226.03M | 312.03M | 503.51M | 123.95M | 115.7M |
| Property, Plant & Equipment | 143.33M | 127.94M | 96.64M | 64.62M | 66.28M | 41.07M | 6.6M | 2.99M |
| Fixed Asset Turnover | 4.56x | 4.69x | 5.95x | 8.45x | 9.23x | 13.69x | 32.72x | 34.31x |
| Goodwill | 95.65M | 93.69M | 89.25M | 94.9M | 167.73M | 363.31M | 0 | 0 |
| Intangible Assets | 39.02M | 43.47M | 52.35M | 64.32M | 76.11M | 98.29M | 117.36M | 112.72M |
| Long-Term Investments | 0 | 2.01M | 1.71M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 2.89M | 790K | 426K | 618K | 853K | 850K | 0 | 0 |
| Total Assets | 405.04M | 397.38M | 385.2M | 361.72M | 509.64M | 687.85M | 189.44M | 145.92M |
| Asset Turnover | 1.50x | 1.51x | 1.49x | 1.51x | 1.20x | 0.82x | 1.14x | 0.70x |
| Asset Growth % | 3.82% | 3.16% | 6.49% | -29.02% | -25.91% | 263.1% | 29.82% | - |
| Total Current Liabilities | 111.77M | 105.05M | 97.04M | 85.96M | 88.34M | 108.02M | 41.24M | 19M |
| Accounts Payable | 42.41M | 31.25M | 30.3M | 28.28M | 20.9M | 25.09M | 4.69M | 7.24M |
| Days Payables Outstanding | 52.78 | 41.64 | 44.74 | 41.96 | 27.8 | 35.98 | 19.12 | 56.72 |
| Short-Term Debt | 6.38M | 6.38M | 6.3M | 3.3M | 5.6M | 5.6M | 7.59M | 464K |
| Deferred Revenue (Current) | 51.28M | 12.71M | 12.21M | 11.78M | 11.42M | 11.34M | 4.17M | 2.46M |
| Other Current Liabilities | 7.81M | 7.89M | 4.46M | 9.61M | 3.97M | 6.89M | 18.39M | 7.9M |
| Current Ratio | 1.11x | 1.23x | 1.49x | 1.58x | 2.24x | 1.71x | 1.59x | 1.59x |
| Quick Ratio | 0.40x | 0.39x | 0.51x | 0.52x | 0.80x | 0.63x | 0.69x | 0.34x |
| Cash Conversion Cycle | 80.16 | 83.19 | 101.79 | 96.31 | 142.39 | 131.79 | 133.12 | 130.94 |
| Total Non-Current Liabilities | 197.7M | 194.56M | 170.53M | 127.14M | 174.22M | 128.81M | 9.31M | 14.88M |
| Long-Term Debt | 93.49M | 104.69M | 105.41M | 90.09M | 138.05M | 103.18M | 0 | 5.27M |
| Capital Lease Obligations | 370.48M | 87.67M | 63.5M | 35.34M | 34.4M | 21.37M | 3.26M | 1.49M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 284K | 2.92M | 5.9M | 8.07M |
| Other Non-Current Liabilities | 2.06M | 2.2M | 1.63M | 1.7M | 1.48M | 1.33M | 144K | 49K |
| Total Liabilities | 309.47M | 299.61M | 267.57M | 213.1M | 262.56M | 236.82M | 50.55M | 33.88M |
| Total Debt | 216.29M | 211.79M | 183.59M | 136.25M | 184.7M | 135.87M | 10.85M | 7.23M |
| Net Debt | 195.24M | 191.52M | 159.4M | 114.39M | 138.38M | 97.04M | -16.25M | 1.44M |
| Debt / Equity | 2.26x | 2.17x | 1.56x | 0.92x | 0.75x | 0.30x | 0.08x | 0.06x |
| Debt / EBITDA | 26.27x | 19.27x | 25.23x | - | - | 4.11x | 0.38x | 0.82x |
| Net Debt / EBITDA | 23.72x | 17.43x | 21.91x | - | - | 2.93x | -0.56x | 0.16x |
| Interest Coverage | -1.67x | -1.94x | -1.10x | -7.68x | -24.64x | 0.45x | 66.82x | 10.02x |
| Total Equity | 95.57M | 97.77M | 117.63M | 148.62M | 247.08M | 451.03M | 138.88M | 112.04M |
| Equity Growth % | -68.05% | -16.89% | -20.85% | -39.85% | -45.22% | 224.75% | 23.96% | - |
| Book Value per Share | 8.76 | 9.12 | 11.13 | 13.88 | 23.03 | 42.07 | 13.01 | 10.50 |
| Total Shareholders' Equity | 95.57M | 97.77M | 117.63M | 148.62M | 247.08M | 451.03M | 128.9M | 103.31M |
| Common Stock | 128K | 128K | 128K | 128K | 129K | 129K | 108.2M | 107.75M |
| Retained Earnings | -332.13M | -324.84M | -293.4M | -267.41M | -168.53M | 8.17M | 14.14M | -196K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -50.39M | -53.64M | -60.85M | -50.27M | -45.19M | -11.08M | 5.84M | -4.73M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 9.98M | 8.73M |
Quick answers to the most common questions about buying AKA stock.
As of 2025, a.k.a. Brands Holding Corp. (AKA) had total assets of $397.4M including $129.5M in current assets.
a.k.a. Brands Holding Corp. (AKA) carries total debt of $211.8M, offset by $20.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
a.k.a. Brands Holding Corp. (AKA) has total shareholders' equity (book value) of $97.8M ($9.12 book value per share). Book value represents the net worth of the company belonging to common stock holders.
a.k.a. Brands Holding Corp. (AKA) reported a current ratio of 1.23x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Liquidity and leverage pressure
Metrics are mathematically derived from official filings.
Balance Sheet Erosion Amid Losses
As reported in recent financial statements, AKA's equity base has contracted from $148.6 million in 2023Q4 to $94.4 million in 2026Q1, reflecting a persistent trend of value destruction driven by cumulative net losses that continue to weigh heavily on the company's overall financial position.
The consistent decline in retained earnings, which reached -$332.0 million in 2026Q1, suggests that the company is struggling to achieve the scale necessary to offset its operational overhead. This trajectory indicates a weakening balance sheet that may require external capital if the current rate of equity erosion continues.
Rising Leverage Limits Financial Flexibility
Based on the company's reported figures, the debt-to-equity ratio has surged from 0.92 in 2023Q4 to 2.28 in 2026Q1, signaling that the firm is increasingly relying on debt financing to sustain operations as its equity base diminishes under the pressure of ongoing net losses.
The accumulation of $215.6 million in total debt against a shrinking equity cushion suggests that the company's leverage is necessity-driven rather than strategic. Investors should monitor whether this debt load becomes unsustainable, particularly given the company's inability to generate consistent positive net income to service these obligations.
Capital Intensity Shifts Toward Infrastructure
According to recent SEC filings, net property, plant, and equipment have more than doubled from $64.6 million in 2023Q4 to $132.8 million in 2026Q1, indicating a significant pivot toward an asset-heavy retail model that contrasts with the company's original digital-first, asset-light brand incubation strategy.
This increase in fixed assets, primarily driven by the expansion of physical Culture Kings locations, introduces substantial operating leverage and long-term lease commitments. This shift warrants further investigation, as it increases the company's exposure to physical retail risks and reduces the agility of its capital structure.
Tightening Liquidity Constrains Operational Runway
As evidenced by the latest quarterly data, cash reserves have dwindled to $12.9 million in 2026Q1, down from $21.9 million in 2023Q4, which suggests that the company's liquidity buffer is becoming increasingly thin relative to its ongoing operational cash burn and debt service requirements.
With a current ratio of 1.19, the company maintains a narrow margin of safety for meeting short-term obligations. This liquidity profile appears vulnerable, and any further deterioration in working capital or unexpected cash outflows could force management to seek dilutive financing or asset divestitures.