The company's financial position appears increasingly vulnerable, as evidenced by the erosion of total equity into a negative $28.3 million balance by 2026Q1.
Alta Equipment Group Inc. (ALTG) balance sheet — 10-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 |
|---|
| Total Current Assets | 724.9M | 710.2M | 774.5M | 838M | 663.3M | 448.6M | 381.6M | 832.52K | 49.66K | 141.31M | 0 |
| Cash & Short-Term Investments | 20.9M | 18.6M | 13.4M | 31M | 2.7M | 2.3M | 1.2M | 654.49K | 49.66K | 164K | 0 |
| Cash Only | 20.9M | 18.6M | 13.4M | 31M | 2.7M | 2.3M | 1.2M | 654.49K | 49.66K | 164K | 0 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 213.2M | 186.7M | 199.7M | 249.3M | 232.8M | 182.7M | 137.8M | 0 | 0 | 52.91M | 0 |
| Days Sales Outstanding | 40.56 | 37.12 | 38.84 | 48.48 | 54.06 | 54.98 | 57.57 | - | - | 55.9 | - |
| Inventory | 456M | 473.3M | 535.9M | 530.7M | 399.7M | 239.2M | 229M | 0 | 109.7M | 84.2M | 0 |
| Days Inventory Outstanding | 129.41 | 126.9 | 141.44 | 141.43 | 126.62 | 97.18 | 126.82 | - | 132.19 | 119.38 | - |
| Other Current Assets | 0 | 31.6M | 25.5M | 27M | 28.1M | 0 | 0 | 0 | 0 | 1.4M | 0 |
| Total Non-Current Assets | 597.6M | 626.1M | 705.9M | 732.9M | 627.3M | 534M | 364.6M | 146M | 162.5K | 122.14M | 0 |
| Property, Plant & Equipment | 467.8M | 196.6M | 553.4M | 575.7M | 491.4M | 447.1M | 311.9M | 0 | 10.6M | 9.51M | 0 |
| Fixed Asset Turnover | 5.45x | 9.34x | 3.39x | 3.26x | 3.20x | 2.71x | 2.80x | - | 38.96x | 36.33x | - |
| Goodwill | 77.2M | 77.8M | 77.5M | 76.7M | 69.2M | 41.9M | 24.3M | 0 | 7.6M | 4.7M | 0 |
| Intangible Assets | 45.2M | 48M | 54.7M | 66.3M | 60.7M | 43.4M | 26.3M | 0 | 100K | 324K | 0 |
| Long-Term Investments | 0 | 0 | 0 | 1.7M | 3.5M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 7.4M | 303.7M | 20.3M | 12.5M | -52.2M | 1.6M | 2.1M | 146M | -18.14M | 107.61M | 0 |
| Total Assets | 1.32B | 1.34B | 1.48B | 1.57B | 1.29B | 982.6M | 746.2M | 146.83M | 212.16K | 263.45M | 0 |
| Asset Turnover | 1.34x | 1.37x | 1.27x | 1.19x | 1.22x | 1.23x | 1.17x | 3.80x | 1946.66x | 1.31x | - |
| Asset Growth % | -36.55% | -9.73% | -5.76% | 21.72% | 31.35% | 31.68% | 408.2% | 69108.38% | -99.92% | - | - |
| Total Current Liabilities | 524.1M | 495M | 577.2M | 635.1M | 471.2M | 322.2M | 434.3M | 1.97M | 220.78K | 7.48K | 6.68K |
| Accounts Payable | 84.5M | 77.7M | 91.5M | 97M | 90.8M | 73.5M | 58.9M | 1.56M | 162.5K | 0 | 0 |
| Days Payables Outstanding | 23.04 | 20.83 | 24.15 | 25.85 | 28.76 | 29.86 | 32.62 | 294.63 | 0.2 | - | - |
| Short-Term Debt | 96.1M | 341.9M | 385M | 405M | 261M | 157.4M | 323.8M | 0 | 50K | 144.21M | 0 |
| Deferred Revenue (Current) | 38.3M | 13.7M | 27.8M | 16.2M | 42M | 31.9M | 9.3M | 0 | 0 | -171.14M | 0 |
| Other Current Liabilities | 269.8M | 61M | 6.6M | 41.3M | 7.5M | 3.9M | 12.2M | 0 | -700K | -144.82M | 6.68K |
| Current Ratio | 1.38x | 1.43x | 1.34x | 1.32x | 1.41x | 1.39x | 0.88x | 0.42x | 0.22x | 18894.77x | - |
| Quick Ratio | 0.51x | 0.48x | 0.41x | 0.48x | 0.56x | 0.65x | 0.35x | 0.42x | -496.65x | 7636.58x | - |
| Cash Conversion Cycle | 146.92 | 143.19 | 156.14 | 164.07 | 151.92 | 122.31 | 151.77 | - | - | - | - |
| Total Non-Current Liabilities | 834.6M | 850.1M | 825.6M | 786.1M | 679.6M | 525.7M | 155M | 0 | 79.2M | 60.12M | 0 |
| Long-Term Debt | 486.3M | 698.5M | 659.8M | 628.2M | 528.7M | 408.4M | 135M | 0 | 0 | 56.5M | 0 |
| Capital Lease Obligations | 479M | 128.3M | 139M | 130.7M | 117.3M | 97.4M | 600K | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 37.2M | 14.6M | 10.8M | 7.7M | 6.4M | 6.9M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 238.2M | 3.7M | 11.7M | 15.3M | 22.3M | 8.8M | 14.5M | 0 | 0 | -56.5M | 0 |
| Total Liabilities | 1.36B | 1.35B | 1.4B | 1.42B | 1.15B | 847.9M | 589.3M | 1.97M | 220.78K | 7.48K | 6.68K |
| Total Debt | 691.3M | 1.17B | 1.2B | 1.18B | 921.8M | 679.4M | 459.4M | 0 | 50K | 200.72M | 0 |
| Net Debt | 670.4M | 1.15B | 1.19B | 1.15B | 919.1M | 677.1M | 458.2M | -654.49K | 342 | 200.55M | 0 |
| Debt / Equity | -19.10x | - | 15.45x | 7.88x | 6.59x | 5.04x | 2.93x | - | - | - | - |
| Debt / EBITDA | 6.69x | 22.52x | 7.35x | 6.31x | 6.03x | 5.97x | 6.87x | - | 0.00x | 4.65x | - |
| Net Debt / EBITDA | 6.49x | 22.16x | 7.27x | 6.14x | 6.02x | 5.95x | 6.85x | -0.01x | 0.00x | 4.65x | - |
| Interest Coverage | -0.16x | -4.39x | 0.18x | 1.04x | 1.33x | 0.28x | -0.29x | -0.73x | - | - | - |
| Total Equity | -36.2M | -8.8M | 77.6M | 149.7M | 139.8M | 134.7M | 156.9M | 144.86M | -8.62K | -7.48K | -6.68K |
| Equity Growth % | -541.31% | -111.34% | -48.16% | 7.08% | 3.79% | -14.15% | 8.31% | 1680421.41% | -15.27% | -11.96% | - |
| Book Value per Share | -1.10 | -0.27 | 2.34 | 4.55 | 4.33 | 4.25 | 5.90 | 19.84 | -0.00 | -0.00 | -0.00 |
| Total Shareholders' Equity | -36.2M | -8.8M | 77.6M | 149.7M | 139.8M | 134.7M | 156.9M | 144.86M | -8.62K | -7.48K | -6.68K |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 139.86M | 359 | 359 | 360 |
| Retained Earnings | -264.8M | -236.4M | -149.3M | -76.4M | -74.2M | -76.8M | -53.4M | -127 | -8.98K | -7.84K | -7.04K |
| Treasury Stock | -19.2M | -19.2M | -11.7M | -5.9M | -5.9M | -5.9M | -5.9M | 0 | 0 | 0 | 0 |
| Accumulated OCI | -3M | -1.6M | -4.9M | -1.8M | -2.9M | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying ALTG stock.
As of 2025, Alta Equipment Group Inc. (ALTG) had total assets of $1.34B including $710.2M in current assets.
Alta Equipment Group Inc. (ALTG) carries total debt of $1.17B, offset by $18.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Alta Equipment Group Inc. (ALTG) has total shareholders' equity (book value) of $-8.8M ($-0.27 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Alta Equipment Group Inc. (ALTG) reported a current ratio of 1.43x. 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
Negative equity and leverage
Metrics are mathematically derived from official filings.
Eroding Equity Base Signals Distress
As reported in recent financial filings, ALTG's total equity has deteriorated from a positive $149.7 million in 2023Q4 to a negative $28.3 million by 2026Q1, reflecting a persistent inability to generate retained earnings sufficient to offset the company's ongoing operational losses and capital structure pressures.
The consistent decline in retained earnings, which reached -$256.7 million in 2026Q1, suggests that the company's business model is currently failing to create shareholder value. This trajectory indicates that the balance sheet is becoming increasingly fragile, leaving little room for error in a cyclical industry.
High Leverage Constrains Financial Flexibility
Based on the provided quarterly data, ALTG maintains a substantial debt load of $1.2 billion, which, when coupled with the recent shift into negative equity, renders traditional leverage ratios like debt-to-equity effectively meaningless and highlights a precarious reliance on external financing to sustain operations.
The company's debt remains stubbornly high at $1.2 billion despite the contraction in revenue, suggesting that the debt is structural rather than temporary. Investors should monitor whether this leverage level limits the company's ability to invest in fleet renewal or respond to competitive threats.
Asset Composition Reflects Capital Intensity
According to the balance sheet, ALTG's net PPE has fluctuated significantly, dropping from $575.7 million in 2023Q4 to $479.7 million in 2026Q1, which may indicate either a strategic reduction in fleet size or an accelerated depreciation of the rental assets supporting the core business.
The asset mix remains heavily skewed toward physical equipment, which is typical for the industry but creates significant risk if utilization rates decline. The stability of goodwill at approximately $77 million suggests that management has not yet recognized impairment, though the negative equity position warrants further investigation into asset valuation.
Tight Liquidity Buffers Limit Resilience
As indicated by the latest quarterly reports, ALTG's cash position has dwindled to $23.9 million in 2026Q1, providing a very thin buffer against operational shocks given the company's high fixed-cost structure and the ongoing requirement to service its significant debt obligations.
While the current ratio of 1.37 suggests a basic ability to cover short-term liabilities, the absolute level of cash is concerningly low for a company of this scale. This liquidity profile suggests that any further deterioration in cash flow could necessitate additional financing or asset liquidations.