ZARE Ares Real Estate Income Trust Inc.

Overview and Growth

Ares Real Estate Income Trust Inc. generated $498.83M of revenue in fiscal 2025, with net loss of $68.00M and an operating cash inflow of $253.64M. Revenue of $498.83M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 19.5% above fiscal 2024 revenue of $417.49M, marking a year-over-year increase. Diluted earnings per share were -$0.37, translating the period’s attributable earnings into the amount reported for each diluted share. A diluted share base of 342.37M links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. Diluted shares moved 12.2% from 305.18M in fiscal 2024, leaving the current share base higher year over year. Total assets stood at $7.27B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Revenue equaled 0.07x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The reported operating result was $331.58M, capturing profitability after direct costs and the operating expenses reflected in the statements. The operating result equaled 66.5% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. The company ended the period with a net loss of $68.00M, extending the operating result through all remaining items. Measured against revenue, the bottom-line deficit represented 13.6% after all recognized items. EBITDA was $528.39M, supplying an additional view of reported operating earnings before interest, taxes, depreciation, and amortization. The company reported a pretax loss of $109.23M, before the effect of income taxes. The pretax loss equaled 21.9% of revenue, measuring the pre-tax deficit against sales. The company recognized $17.95M of income tax for the period, completing the transition from pretax income to net income. The loss-to-equity relationship was 5.2%, placing the bottom-line deficit against shareholder capital. Relative to total assets, the net loss represented 0.9%. The bottom-line deficit increased from $37.13M in fiscal 2024 to $68.00M.

Liquidity and Capital Structure

The company held $7.27B of assets against $5.75B of liabilities and $1.31B of equity, revealing how the asset base was financed. The company held $40.06M in cash and equivalents, a narrower liquidity measure than total current assets. Total debt was $2.97B, establishing the amount of borrowing carried within the company’s capital structure. Against book equity, debt measured 2.27x, placing the company’s financial leverage in clear balance-sheet terms. The debt-to-assets relationship was 40.9%, comparing borrowing with the total asset balance. The equity-to-assets relationship was 18.0%, placing book capital against the total resource base. The liabilities-to-assets relationship was 79.1%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 0.6% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $5.73B in fiscal 2024, the current asset base moved 26.8% and finished higher. Reported equity changed 6.8% from $1.41B in fiscal 2024, placing the current capital base lower year over year. Compared with $19.55M in fiscal 2024, the current cash balance moved 104.9% and finished higher.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $253.64M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Operating cash flow moved from a $169.49M outflow in fiscal 2024 to a $253.64M inflow.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.