The company's financial position appears increasingly vulnerable, with a debt-to-equity ratio of 1.80 and a negative return on equity of 3.6% as of 2026Q1.
Sachem Capital Corp. (SACH) balance sheet — 12-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 | Dec'15 | Dec'14 |
|---|
| Total Assets | 472.9M | 460.05M | 491.98M | 620.89M | 565.66M | 417.96M | 226.67M | 141.21M | 86.01M | 67.49M | 38.37M | 30.8M | 21.46M |
| Asset Growth % | -28.72% | -6.49% | -20.76% | 9.76% | 35.34% | 84.39% | 60.52% | 64.17% | 27.44% | 75.91% | 24.59% | 43.53% | - |
| Real Estate & Other Assets | 0 | -65.77M | -54.37M | -85.27M | -60.05M | -68.86M | 7.54M | 88.28K | 3.51M | 1.32M | 260.04K | 83.99K | 53.83K |
| PP&E (Net) | 3.04M | 3.16M | 3.22M | 3.37M | 4.12M | 2.17M | 2.83M | 1.91M | 1.18M | 501.82K | 397.45K | 0 | 0 |
| Investment Securities | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 0 | 1000K | 0 | 0 |
| Total Current Assets | 33.6M | 15.98M | 23.35M | 33.44M | 65.02M | 110.21M | 179.01M | 123.27M | 81.32M | 65.67M | 36.06M | 30.71M | 21.4M |
| Cash & Equivalents | 28.82M | 10.92M | 18.07M | 12.6M | 23.71M | 41.94M | 19.41M | 18.84M | 99.31K | 954.22K | 1.56M | 1.83M | 5.87M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 743.68K | 343.49K | 1000K |
| Other Current Assets | 0 | 0 | 0 | -33.61M | -63.81M | -110.21M | 3.98M | 10.08M | 78.98M | 63.39M | 33.75M | 1.34M | 677.79K |
| Intangible Assets | 0 | 521K | 698K | 698K | 130.4K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 314.11M | 285.11M | 310.32M | 390.82M | 347.95M | 237.88M | 145.75M | 58.65M | 33.21M | 12.93M | 9.88M | 6.57M | 5.35M |
| Total Debt | 0 | 277.84M | 268.19M | 345.89M | 284.39M | 194.46M | 138.78M | 56.34M | 27.51M | 10.14M | 8.42M | 6M | 5M |
| Net Debt | -28.82M | 266.92M | 250.13M | 333.29M | 260.68M | 152.52M | 119.37M | 37.49M | 27.41M | 9.19M | 6.86M | 4.17M | -874.92K |
| Long-Term Debt | 0 | 258.84M | 227.53M | 283.43M | 280.81M | 161.28M | 110.72M | 56.34M | 290.98K | 301.1K | 310K | 6M | 0 |
| Short-Term Borrowings | 0 | 19M | 40M | 61.79M | 3.59M | 33.18M | 28.06M | 0 | 27.22M | 9.84M | 8.11M | 6M | 5M |
| Capital Lease Obligations | 628K | 0 | 665K | 665K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 0 | 19M | 43.45M | 99.86M | 57.26M | 61.53M | 31.09M | 253.29K | 1.06M | 10.27M | 8.4M | 6.57M | 5.35M |
| Accounts Payable | 0 | 2.59M | 3.45M | 1.81M | 1.43M | 697.4K | 372.66K | 249.88K | 316.41K | 431.35K | 196.09K | 37.83K | 13.28K |
| Deferred Revenue | 0 | 0 | 0 | 4.65M | 4.36M | 4.64M | 0 | 0 | 1.06M | 1.11M | 290.46K | 297.73K | 196.71K |
| Other Liabilities | 0 | 7.27M | 4.97M | -284.1M | -280.81M | -161.28M | 3.94M | 2.06M | 28.6M | 2.35M | 1.17M | -6.19M | 0 |
| Total Equity | 158.79M | 174.94M | 181.65M | 230.08M | 217.71M | 180.08M | 80.92M | 82.56M | 52.8M | 54.57M | 28.49M | 24.23M | 16.1M |
| Equity Growth % | -42.49% | -3.7% | -21.05% | 5.68% | 20.89% | 122.55% | -1.99% | 56.36% | -3.23% | 91.56% | 17.57% | 50.46% | - |
| Shareholders Equity | 158.79M | 174.94M | 181.65M | 230.08M | 217.71M | 180.08M | 80.92M | 82.56M | 52.8M | 54.57M | 28.49M | 24.23M | 16.1M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Common Stock | 48K | 48K | 47K | 47K | 41.09K | 32.73K | 22.13K | 22.12K | 15.44K | 15.42K | 28.49M | 0 | 0 |
| Additional Paid-in Capital | 0 | 257.9M | 256.96M | 249.83M | 226.22M | 185.52M | 83.81M | 83.86M | 53.19M | 53.32M | 0 | 0 | 0 |
| Retained Earnings | 0 | 41.83M | -75.35M | 75.09M | -8M | -4.99M | -2.89M | -1.27M | -405.48K | 1.24M | 0 | 0 | 0 |
| Preferred Stock | 2K | 2K | 2K | 2K | 1.9K | 1.9K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | -1.92% | 1.33% | -7.11% | 2.68% | 4.25% | 4.13% | 4.89% | 5.45% | 10.13% | 9.18% | 8.82% | 8.83% | 6.85% |
| Return on Equity (ROE) | -5.37% | 3.54% | -19.22% | 7.1% | 10.51% | 10.21% | 11% | 9.15% | 14.48% | 11.71% | 11.57% | 11.44% | 9.13% |
| Debt / Assets | 0% | 60.39% | 54.51% | 55.71% | 50.28% | 46.53% | 61.22% | 39.89% | 31.98% | 15.03% | 21.95% | 19.48% | 23.3% |
| Debt / Equity | 0.00x | 1.59x | 1.48x | 1.50x | 1.31x | 1.08x | 1.71x | 0.68x | 0.52x | 0.19x | 0.30x | 0.25x | 0.31x |
| Net Debt / EBITDA | -3.42x | 9.46x | - | 21.78x | 11.68x | 10.36x | 11.79x | 4.88x | 3.48x | 1.88x | 2.21x | 1.80x | -0.59x |
| Book Value per Share | 3.36 | 3.73 | 3.83 | 5.20 | 5.77 | 6.84 | 3.66 | 4.25 | 3.42 | 4.56 | 2.57 | 2.84 | 1.40 |
Quick answers to the most common questions about buying SACH stock.
As of 2025, Sachem Capital Corp. (SACH) had total assets of $460.0M including $16.0M in current assets.
Sachem Capital Corp. (SACH) carries total debt of $277.8M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Sachem Capital Corp. (SACH) has total shareholders' equity (book value) of $174.9M ($3.73 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Sachem Capital Corp. (SACH) reported a current ratio of 0.84x. 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
Rising non-accrual loan exposure
Metrics are mathematically derived from official filings.
Asset Base Contraction and Deleveraging
As reported in recent financial statements, Sachem Capital's total assets have declined from a peak of $626.5M in 2024Q1 to $473.3M in 2026Q1, signaling a significant contraction in the company's lending footprint as it struggles to recycle capital into new, performing mortgage originations.
The reduction in total assets appears to be a direct consequence of the company's inability to maintain its loan portfolio size amidst rising credit impairments. This downward trajectory suggests that the firm is currently in a defensive posture, prioritizing the liquidation of existing assets over the expansion of its mortgage book.
Elevated Leverage Amidst Asset Impairment
Based on the company's quarterly filings, the debt-to-equity ratio reached 1.80 in 2026Q1, which, when viewed alongside the negative return on equity of -3.6%, indicates that the company's reliance on debt financing is becoming increasingly precarious as the underlying collateral value faces downward pressure.
The persistent D/E ratio above 1.50 suggests that Sachem remains highly sensitive to interest rate volatility and credit losses. Investors should monitor whether the company's unsecured debt structure can be sustained if the current trend of asset impairment continues to erode the equity base.
Liquidity Constraints and Capital Access
According to recent balance sheet data, Sachem's cash position of $12.4M in 2026Q1 represents a thin buffer against its $298.3M total debt load, highlighting a potential liquidity mismatch that may limit the company's ability to fund new originations or manage its maturing debt obligations.
The limited cash reserves appear insufficient to absorb further shocks from non-performing loans or to support the carrying costs of an expanding REO portfolio. This liquidity profile suggests that the company may face significant challenges in refinancing its debt without resorting to dilutive equity issuance or further asset sales.
Hidden Risks in REO Conversion
As indicated by the shift in asset composition, the transition of loans into Real Estate Owned (REO) assets, which remain at a relatively low $3.1M net, may mask the true extent of credit deterioration and the associated operational drag on the company's balance sheet.
The conversion of non-accruing loans into physical property assets likely introduces significant, non-obvious costs related to maintenance, taxes, and eventual liquidation. This shift suggests that the balance sheet may be understating the true economic risk, as these assets are typically less liquid and more costly to manage than the original mortgage loans.