The company's financial position is increasingly vulnerable, with a debt-to-equity ratio that has surged to 8.99 as of 2025Q3, reflecting a dangerous reliance on leverage amidst declining asset values.
| Total Current Assets | 9.09M | 8.4M | 27.25M | 39.4M | 19.76M | 40.42M | 9.97M | 96.08K | 4.22M |
| Cash & Short-Term Investments | 3.78M | 2.87M | 5.24M | 30.08M | 10.28M | 7.15M | 2.82M | 89.56K | 1.82M |
| Cash Only | 1.35M | 432.17K | 3.24M | 26.02M | 10.28M | 7.15M | 2.82M | 89.56K | 1.82M |
| Short-Term Investments | 2.43M | 2.43M | 2M | 4.07M | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 953.49K | 1.52M | 1.11M | 1.81M | 2.37M | 366.09K | 1.36M | 0 | 2.09M |
| Days Sales Outstanding | 26.86 | 26.17 | 16.77 | 41.37 | 80.22 | 18.82 | 62.93 | - | 132.93 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2.5M | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 4.35M | 4.02M | 20.9M | 7.5M | -1.25M | 25.99M | 3.5M | 0 | 240.5K |
| Total Non-Current Assets | 346.85M | 358.31M | 414.65M | 416.9M | 317.53M | 269.25M | 225.79M | 128.4M | 200.44M |
| Property, Plant & Equipment | 329.41M | 341.93M | 351.77M | 256.39M | 180.46M | 154.36M | 134.91M | 145.81M | 156.51M |
| Fixed Asset Turnover | 0.05x | 0.06x | 0.07x | 0.06x | 0.06x | 0.05x | 0.06x | 0.05x | 0.04x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 10.22M | 10.4M | 59.37M | 140.14M | 128.72M | 107.97M | 88.59M | 0 | 0 |
| Long-Term Investments | 8.65M | 2.23M | 0 | 17.03M | 0 | 0 | 0 | 128.4M | 0 |
| Other Non-Current Assets | 5.14M | 3.74M | 3.51M | 3.34M | 8.35M | 6.92M | 2.29M | -145.81M | 43.93M |
| Total Assets | 355.95M | 366.71M | 441.9M | 456.3M | 337.29M | 310.84M | 235.76M | 128.49M | 204.66M |
| Asset Turnover | 0.05x | 0.06x | 0.05x | 0.04x | 0.03x | 0.02x | 0.03x | 0.05x | 0.03x |
| Asset Growth % | -69.84% | -17.02% | -3.16% | 35.28% | 8.51% | 31.85% | 83.48% | -37.22% | - |
| Total Current Liabilities | 31.97M | 27.02M | 28.56M | 25.3M | 14.14M | 22.79M | 33.01M | 594.22K | 36.28M |
| Accounts Payable | 23.42M | 18.9M | 21.83M | 17.58M | 12.12M | 20.54M | 12.87M | 284.96K | 33.16M |
| Days Payables Outstanding | 1.28K | 1.15K | 1.23K | 1.08K | 133.22 | 277.12 | 281.2 | 9.09 | 3.99K |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 21.81M | 5.21M | 5.44M | 6.87M | 203.28K | 530.13K | 90.84K | -66.59M | 0 |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -273.84K | 0 |
| Current Ratio | 0.28x | 0.31x | 0.95x | 1.56x | 1.40x | 1.77x | 0.30x | 0.16x | 0.12x |
| Quick Ratio | 0.28x | 0.31x | 0.95x | 1.56x | 1.40x | 1.77x | 0.30x | 4.38x | 0.12x |
| Cash Conversion Cycle | -1.25K | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 293.75M | 267.46M | 286.6M | 239.74M | 118.57M | 121.79M | 167.8M | 4.45M | 139.97M |
| Long-Term Debt | 268.35M | 245.75M | 219.53M | 171.32M | 101.36M | 98.9M | 164.92M | 68.17M | 138.64M |
| Capital Lease Obligations | 13.59M | 3.4M | 3.44M | 3.41M | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 22.01M | 18.31M | 63.62M | 65.01M | 17.21M | 22.89M | 2.88M | -63.72M | 1.34M |
| Total Liabilities | 325.72M | 294.47M | 315.16M | 265.04M | 132.71M | 144.58M | 200.81M | 5.04M | 176.25M |
| Total Debt | 271.74M | 249.15M | 222.97M | 174.73M | 101.36M | 98.9M | 164.92M | 130.56M | 138.64M |
| Net Debt | 270.39M | 248.72M | 219.73M | 148.71M | 91.08M | 91.75M | 162.1M | 130.47M | 136.82M |
| Debt / Equity | 8.99x | 3.45x | 1.76x | 0.91x | 0.50x | 0.60x | 4.72x | 1.06x | 4.88x |
| Debt / EBITDA | -27.60x | - | - | - | - | - | - | 12.92x | 99.67x |
| Net Debt / EBITDA | -27.46x | - | - | - | - | - | - | 12.91x | 98.36x |
| Interest Coverage | -1.04x | -0.94x | -2.21x | -3.27x | -4.16x | -2.01x | -1.45x | - | - |
| Total Equity | 30.22M | 72.23M | 126.74M | 191.26M | 204.58M | 165.08M | 34.95M | 123.45M | 28.4M |
| Equity Growth % | -214.95% | -43.01% | -33.73% | -6.51% | 23.93% | 372.35% | -71.69% | 334.65% | - |
| Book Value per Share | 4.51 | 11.06 | 21.75 | 36.72 | 49.84 | 56.67 | 31.09 | 109.82 | 7.65 |
| Total Shareholders' Equity | 31.19M | 73.19M | 127.69M | 192.14M | 205.18M | 165.28M | 34.95M | 123.45M | 28.4M |
| Common Stock | 669 | 655 | 643 | 560 | 9.76K | 6.41K | 544 | 118.45M | 28.4M |
| Retained Earnings | -315.68M | -273.56M | -216.64M | -146.9M | -99.95M | -6.84M | 34.95M | 1.08M | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | -717.83K | -119.13M | 0 |
| Minority Interest | -963.43K | -963.43K | -954.84K | -882.57K | -596.77K | -196.51K | 0 | 0 | 0 |
Imminent liquidity and solvency crisis
As reported in recent financial statements, HOFV's total assets have declined from $451.1M in 2023Q2 to $355.9M in 2025Q3, reflecting a persistent erosion of the balance sheet that suggests the company is struggling to maintain its capital base while funding ongoing operational losses.
The consistent contraction in total assets alongside a ballooning accumulated deficit indicates that the company's development projects are failing to generate the expected value. Investors should monitor whether this downward trajectory in asset value reflects actual impairment or simply the exhaustion of capital resources required to sustain the business.
Based on the latest quarterly filings, HOFV's debt-to-equity ratio has surged from 1.24 in 2023Q2 to 8.99 in 2025Q3, highlighting a dangerous reliance on debt financing that appears to be a necessity for survival rather than a strategic choice for growth.
The rapid increase in leverage, coupled with a shrinking equity base, suggests that the company is increasingly dependent on external capital to cover its fixed obligations. This high debt burden warrants further investigation into the maturity profile and the potential for future covenant breaches that could trigger a liquidity crisis.
According to the 2025Q3 balance sheet, the company holds a meager $1.4M in cash, which represents a significant decline from the $9.3M reported in 2023Q2, leaving the firm with a current ratio of only 0.28 and minimal protection against operational shocks.
A current ratio of 0.28 indicates that current liabilities vastly outweigh liquid assets, suggesting that the company may be unable to meet its short-term obligations without immediate capital infusion. This liquidity position appears precarious and suggests that the firm is operating with virtually no margin for error.
Financial disclosures reveal that goodwill has fluctuated significantly, dropping from a peak of $71.9M in 2024Q3 to $10.2M in 2025Q3, which may indicate that previous acquisitions or intangible assets are being written down as the company faces operational headwinds.
The substantial reduction in goodwill suggests that the carrying value of past investments is no longer supported by current performance, potentially signaling further write-downs ahead. Investors should be wary of the quality of the remaining equity, as it appears increasingly supported by accounting adjustments rather than tangible operational success.
Quick answers to the most common questions about buying HOFV stock.
As of 2024, Hall of Fame Resort & Entertainment Company (HOFV) had total assets of $366.7M including $8.4M in current assets.
Hall of Fame Resort & Entertainment Company (HOFV) carries total debt of $249.1M, offset by $2.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Hall of Fame Resort & Entertainment Company (HOFV) has total shareholders' equity (book value) of $73.2M ($11.06 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Hall of Fame Resort & Entertainment Company (HOFV) reported a current ratio of 0.31x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.