The company's financial flexibility is increasingly constrained by a debt-to-equity ratio that surged to 4.73 in 2025Q4, up from 2.01 in 2025Q2.
| Total Assets | 17.5B | 21.87B | 19.47B | 298.6M | 342.02K |
| Asset Growth % | -19.98% | 12.31% | 6421.56% | 87204.18% | - |
| Real Estate & Other Assets | 1.44B | 1.36B | 1.12B | -16.78B | -9.44B |
| PP&E (Net) | 12.96B | 19.02B | 17.64B | 16.88B | 9.44B |
| Investment Securities | 0 | 0 | 1000K | 1000K | 0 |
| Total Current Assets | 3.1B | 1.49B | 597.38M | 519.74M | 395.07M |
| Cash & Equivalents | 273.74M | 970.41M | 81.26M | 792.42K | 81.55K |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 2.26B | 2 | 65.11M | 25.06M | 218.72M |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 15.19B | 16.66B | 11.64B | 16.96M | 332.81K |
| Total Debt | 10.9B | 11.38B | 6.89B | 5.56B | 3.8B |
| Net Debt | 10.63B | 10.41B | 6.81B | 5.56B | 208.34K |
| Long-Term Debt | 26.8M | 7.69B | 4.64B | 1.77B | 3.61B |
| Short-Term Borrowings | 10.69B | 3.48B | 2.04B | 3.8B | 187.52M |
| Capital Lease Obligations | 181.56M | 206.71M | 207.96M | 624.19K | 1.16M |
| Total Current Liabilities | 11.93B | 4.36B | 2.63B | 4.07B | 413.57M |
| Accounts Payable | 674.66M | 629.58M | 399.16M | 124.59M | 113.18M |
| Deferred Revenue | 195.15M | 23.46M | 8.26M | -3.92B | 0 |
| Other Liabilities | 170.81M | 246.15M | 62.5M | 212.8M | 146.93M |
| Total Equity | 2.31B | 5.21B | 7.83B | 281.64M | 9.21K |
| Equity Growth % | -55.69% | -33.54% | 2681.61% | 3056589.29% | - |
| Shareholders Equity | 2.31B | 5.21B | 7.83B | 8.4B | 4.25B |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Common Stock | 951.77M | 925.8M | 902.61M | 902.61M | 1.2B |
| Additional Paid-in Capital | 723.61M | 708.95M | 0 | 0 | 0 |
| Retained Earnings | -5.05B | -4.77B | -1.18B | -1.24B | -1.49B |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | -1.43% | -17.26% | 0.58% | 163.5% | -30848.43% |
| Return on Equity (ROE) | -7.52% | -54.72% | 1.42% | 173.53% | -1145088.2% |
| Debt / Assets | 62.29% | 52.04% | 35.38% | 1863.3% | 1110007.77% |
| Debt / Equity | 4.73x | 2.19x | 0.88x | 19.75x | 412032.86x |
| Net Debt / EBITDA | - | - | - | - | - |
| Book Value per Share | 29.03 | 67.56 | 98.86 | 7.26 | 0.00 |
High leverage and development
As reported in recent financial statements, Murano’s total assets have fluctuated significantly, reaching $17.5B in 2025Q4, while the company continues to navigate a capital-intensive development phase that necessitates ongoing balance sheet expansion to support its luxury hospitality pipeline in Mexico's most supply-constrained submarkets.
The shift in total assets from $21.3B in 2025Q2 to $17.5B in 2025Q4 suggests a potential recalibration of the asset base or asset impairment, which warrants further investigation by investors. This trajectory indicates that the company is still in the process of defining its stabilized asset footprint, making the current balance sheet size a moving target rather than a fixed foundation.
Based on the company's reported figures, the debt-to-equity ratio reached 4.73 in 2025Q4, a substantial increase from the 2.01 observed in 2025Q2, which suggests that the company is increasingly relying on debt financing to fund its ongoing development projects and operational requirements.
A debt-to-equity ratio of 4.73 appears to indicate a high level of financial risk, particularly for a REIT that has yet to demonstrate consistent positive net income. Investors should monitor whether this leverage level is sustainable or if it may necessitate future equity dilution to de-lever the balance sheet as projects reach completion.
According to quarterly filings, cash reserves have declined from $469.0M in 2025Q1 to $273.7M in 2025Q4, highlighting the significant liquidity consumption required to maintain the company's aggressive development schedule and cover the fixed costs associated with its luxury hospitality portfolio.
The rapid depletion of cash reserves suggests that the company may face liquidity constraints if the stabilization of its Cancun assets does not occur within the expected timeframe. This trend implies that the company's ability to fund future growth without external capital injections may be limited, potentially increasing the risk of future financing hurdles.
As indicated in the balance sheet data, total equity has contracted from $5.4B in 2025Q2 to $2.3B in 2025Q4, a trend that appears to be driven by persistent negative net income and the ongoing challenges of transitioning from a private developer to a public REIT.
The significant decline in equity suggests that the company is currently consuming its book value to sustain operations, which may negatively impact its long-term valuation metrics. Investors should consider whether this erosion is a temporary byproduct of the development cycle or a more permanent impairment of the company's underlying net asset value.
Quick answers to the most common questions about buying MRNO stock.
As of 2025, Murano Global Investments PLC Ordinary Shares (MRNO) had total assets of $17.50B including $3.10B in current assets.
Murano Global Investments PLC Ordinary Shares (MRNO) carries total debt of $10.90B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Murano Global Investments PLC Ordinary Shares (MRNO) has total shareholders' equity (book value) of $2.31B ($29.03 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Murano Global Investments PLC Ordinary Shares (MRNO) reported a current ratio of 0.26x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.