Ares Commercial Real Estate Corporation Financial Ratios — ACRE

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	0.88	4.82	6.03	8.44	9.74	7.26	9.14	8.68	4.86	10.5	4.18	-5.66	-6	-0.17
Return on Assets (%)	- -	0.43	1.76	1.61	2.12	2.93	1.93	2.29	2.18	1.18	2.65	1.16	-1.62	-1.74	-0.05
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	- -	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	- -	0.11	0.43	0.44	0.37	- -	- -	0.86	1.13	0.81	- -	1.25	-31.25	36.93
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	- -	12.99	41.28	61.24	72.66	68.02	66.04	70.62	48.55	28.2	59.94	27.75	-47.78	229.84	-2.69
Profit Margin (%)	- -	12.99	40.76	64.99	68.58	89.42	65.61	69.82	47.88	27.76	59.23	27.31	-47.73	229.72	-3.93
Net Income to Common Margin (%)	- -	11.44	40.76	64.99	68.58	89.42	65.61	69.82	47.88	27.76	59.23	27.31	-47.73	229.72	-3.93
Effective Tax Rate (%)	- -	- -	1.26	1.04	- -	0.75	0.58	1.14	1.37	1.59	1.18	1.56	- -	- -	- -
Dvd Payout Ratio (%)	- -	205.8	134.93	124.42	63.03	84.04	100.24	83.14	101.34	195.81	96.63	241.08	-195.42	-170.43	-4,324.94
Sustainable Growth Rate (%)	- -	-0.93	-1.68	-1.47	3.12	1.55	-0.02	1.54	-0.12	-4.65	0.35	-5.89	-16.72	-16.23	-7.6

Credit (USD)

Credit Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	212	727	1,115	605	806	2,081	1,022	1,204	1,327	1,903	1,737	1,617	1,172	1,047
ST Debt	- -	112	264	524	280	579	745	607	561	651	819	705	640	588	858
LT Debt	- -	99	463	591	324	228	1,337	415	643	675	1,083	1,031	977	584	189
Total Debt/EBITDA	- -	- -	19,138.45	6,968.79	2,760.75	4,826.95	- -	- -	1,804.82	1,487.59	2,306.12	- -	1,591.52	246.3	123.61
Net Debt/EBITDA	- -	- -	18,609.5	6,865.34	2,737.62	4,543.9	- -	- -	1,796.94	1,403.76	2,244.77	- -	1,482.81	232.89	120.15
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	84.84	42.65	34.52	21.64	29.69	30.5	23.68	26.54	23.9	24.51	25.79	29.63	27.45	30.84	31.49
Long-Term Debt/Equity (%)	- -	60.11	113.94	122.82	71	52.96	318.91	97.6	150.89	142.81	159.61	137.96	156.14	108.1	37.15
Long-Term Debt/Capital (%)	- -	26.38	40.83	37.01	30.54	18.41	53.46	28.7	39.46	37.53	41.96	41.52	43.57	34.1	12.16
Long-Term Debt/Total Assets (%)	- -	25.64	39.33	31.72	23.5	16.57	75.51	25.91	36.06	35.01	41.16	40.88	42.86	33.34	11.7
Total Debt/Equity (%)	- -	127.87	179.03	231.86	132.45	187.61	496.52	240.12	282.36	280.53	280.35	232.3	258.37	217.05	205.56
Total Debt/Capital (%)	- -	56.12	64.16	69.87	56.98	65.23	83.24	70.6	73.85	73.72	73.71	69.91	72.1	68.46	67.27
Total Debt/Total Assets (%)	- -	54.54	61.79	59.88	43.84	58.68	117.57	63.74	67.47	68.77	72.29	68.83	70.93	66.95	64.73
Net Debt to Equity	-19.26	113.73	174.08	228.42	131.34	176.61	489.76	237.51	281.13	264.72	272.89	213.41	240.72	205.24	199.81
Net Debt/Capital (%)	-23.86	53.21	63.51	69.55	56.77	63.85	83.04	70.37	73.76	72.58	73.18	68.09	70.65	67.24	66.65
EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	1	1	1	- -	1	5	8
EBITDA-CapEx	- -	- -	- -	-2	- -	- -	- -	- -	1	1	1	- -	1	5	8
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	1.31	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	6.51	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	1.31	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	4.11	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	84.84	42.65	34.52	21.64	29.69	30.5	23.68	26.54	23.9	24.51	25.79	29.63	27.45	30.84	31.49
Long-Term Debt/Equity (%)	- -	60.11	113.94	122.82	71	52.96	318.91	97.6	150.89	142.81	159.61	137.96	156.14	108.1	37.15
Long-Term Debt/Capital (%)	- -	26.38	40.83	37.01	30.54	18.41	53.46	28.7	39.46	37.53	41.96	41.52	43.57	34.1	12.16
Long-Term Debt/Total Assets (%)	- -	25.64	39.33	31.72	23.5	16.57	75.51	25.91	36.06	35.01	41.16	40.88	42.86	33.34	11.7
Total Debt/Equity (%)	- -	127.87	179.03	231.86	132.45	187.61	496.52	240.12	282.36	280.53	280.35	232.3	258.37	217.05	205.56
Total Debt/Capital (%)	- -	56.12	64.16	69.87	56.98	65.23	83.24	70.6	73.85	73.72	73.71	69.91	72.1	68.46	67.27
Total Debt/Total Assets (%)	- -	54.54	61.79	59.88	43.84	58.68	117.57	63.74	67.47	68.77	72.29	68.83	70.93	66.95	64.73
CFO/Total Liabilities	- -	0.88	3.3	-16.14	29.87	-0.48	2.31	3.33	2.39	2.18	2.48	3.22	2.83	2.94	1.93
CFO/CapEx	- -	- -	620.59	-107.07	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	0.8	0.41	0.3	0.15	0.24	0.28	0.19	0.23	0.25	0.19	0.23	0.19	0.12	-0.07	-0.11

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	7.57	15.72	12.53	16.3	31.13	80.75	61.84	71.8	65.9	55.61	39.14	24.42	-5.36	22.2
Days Sales Outstanding	- -	48.19	23.22	29.12	22.39	11.73	4.52	5.9	5.08	5.54	6.56	9.33	14.95	-68.06	16.44
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	152	373	328	327	391	369	375	457	398	685	560	561	321	263
- Cash & Cash Equivalents	1	23	20	17	5	47	28	11	5	75	51	141	110	64	29
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	78	47	11	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	212	727	1,115	605	806	2,081	1,022	1,204	1,327	1,903	1,737	1,617	1,172	1,047
Enterprise Value	-1	340	1,081	1,505	974	1,161	2,422	1,386	1,656	1,650	2,537	2,128	2,039	1,421	1,281
Total Capital	6	377	1,133	1,596	1,061	1,236	2,500	1,447	1,630	1,800	2,581	2,484	2,243	1,713	1,557
Total Debt/Capital (%)	- -	56.12	64.16	69.87	56.98	65.23	83.24	70.6	73.85	73.72	73.71	69.91	72.1	68.46	67.27
Total Debt / EV	- -	0.62	0.67	0.74	0.62	0.69	0.86	0.74	0.73	0.8	0.75	0.82	0.79	0.82	0.82
EV/Sales	- -	51.38	31.99	40.08	19.48	25.73	52.25	25.07	21.43	20.97	24.86	19.51	25.04	- -	55.83
EV/EBITDA	- -	- -	28,436.91	9,403.53	4,446.81	6,949.36	- -	- -	2,482.45	1,850.28	3,075.65	- -	2,007.34	298.56	151.19
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	174.35	42.47	- -	3.53	- -	77.44	35.34	51.02	51.96	52.48	37.22	43.59	39.98	60
EV/Free Cash Flow to Firm	- -	174.35	42.4	- -	3.53	- -	77.44	35.34	51.02	51.96	52.48	37.22	43.59	39.98	60
Diluted Market Cap	- -	108	249	328	327	392	368	374	457	395	621	536	562	321	262
Diluted Enterprise Value	-1	296	957	1,505	974	1,161	2,421	1,385	1,655	1,648	2,473	2,132	2,069	1,429	1,281
EV per Share	- -	36.72	37.91	52.63	34.04	40.75	84.68	48.19	57.36	49.35	53.82	39.08	37.66	26.06	23.28
TTM Sales	- -	7	34	38	50	45	46	55	77	79	102	109	81	-15	23
TTM EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	1	1	1	- -	1	5	8
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	- -	2	25	-223	276	-4	31	39	32	32	48	57	47	36	21
TTM Free Cash Flow to Firm	- -	2	25	-221	276	-4	31	39	32	32	48	57	47	36	21

Multiples (USD)

Valuation Multiples API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	55.24	9.79	-1.49	1.19	-87.22	11.78	9.53	14.08	12.45	12.84	9.38	12.02	9.02	12.29
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-1	340	1,081	1,505	974	1,161	2,422	1,386	1,656	1,650	2,537	2,128	2,039	1,421	1,281
Low Price	- -	14.85	12.04	11.41	10.9	8.91	12.48	11.96	12.82	2.78	11.16	9.9	7.52	5.77	3.35
EV/Sales	- -	51.38	31.99	40.08	19.48	25.73	52.25	25.07	21.43	20.97	24.86	19.51	25.04	- -	55.83
EV/EBITDA	- -	- -	28,436.91	9,403.53	4,446.81	6,949.36	- -	- -	2,482.45	1,850.28	3,075.65	- -	2,007.34	298.56	151.19
Price/Earnings	- -	141.51	18.07	13.39	9.51	9.69	12.08	9.64	12.25	17.98	10.2	17.85	- -	- -	- -
Price/Earnings Average	- -	144.9	20.22	14.67	9.98	8.49	12.48	9.98	11.69	15.83	10.27	23.25	-14.04	-11.47	-292.35
Price/Earnings High	- -	156.85	24.35	16.22	10.96	10.15	13.32	10.92	12.65	26.76	11.91	28.59	-17.81	-16.38	-377.87
Price/Earnings Low	- -	127.98	16.61	13.31	9.06	6.29	11.69	8.84	9.92	4.2	7.83	17.18	-10.5	-8.98	-203.84
Price/Book Value	- -	0.92	0.92	0.81	0.8	0.93	0.88	0.88	1.07	0.84	1.01	0.75	0.9	0.59	0.52
Price/Book Value Average	- -	0.94	1.03	0.89	0.84	0.82	0.91	0.91	1.02	0.74	1.02	0.98	0.87	0.74	0.52
Price/Book Value High	- -	1.02	1.24	0.99	0.92	0.98	0.97	1	1.11	1.25	1.18	1.2	1.1	1.06	0.67
Price/Book Value Low	- -	0.83	0.84	0.81	0.76	0.61	0.85	0.81	0.87	0.2	0.78	0.72	0.65	0.58	0.36
Price/Tangible Book Value	- -	0.92	1.08	0.95	0.94	0.93	0.88	0.88	1.07	0.84	1.01	0.75	0.9	0.59	0.52
Price/Tangible Book Value Average	- -	0.94	1.21	1.04	0.99	0.82	0.91	0.91	1.02	0.74	1.02	0.98	0.87	0.74	0.52
Price/Tangible Book Value High	- -	1.02	1.45	1.15	1.08	0.98	0.97	1	1.11	1.25	1.18	1.2	1.1	1.06	0.67
Price/Tangible Book Value Low	- -	0.83	0.99	0.95	0.9	0.61	0.85	0.81	0.87	0.2	0.78	0.72	0.65	0.58	0.36
Price/Sales	- -	16.2	7.37	8.7	6.52	8.66	7.93	6.73	5.87	4.99	6.04	4.88	6.91	-21.05	11.43
Price/Sales Average	- -	16.58	8.24	9.53	6.84	7.6	8.19	6.97	5.59	4.39	6.08	6.35	6.7	-26.34	11.49
Price/Sales High	- -	17.95	9.92	10.54	7.51	9.08	8.74	7.62	6.06	7.43	7.05	7.81	8.5	-37.64	14.85
Price/Sales Low	- -	14.65	6.77	8.65	6.21	5.62	7.67	6.17	4.75	1.17	4.64	4.69	5.01	-20.62	8.01
Price/Cash Flow	- -	54.95	9.78	-1.47	1.18	-87.03	11.75	9.49	13.96	12.37	12.75	9.3	12.02	9.02	12.29
Price/Cash Flow Average	- -	56.27	10.94	-1.61	1.24	-76.31	12.13	9.83	13.32	10.89	12.84	12.12	11.66	11.29	12.35
Price/Cash Flow High	- -	60.91	13.17	-1.77	1.36	-91.22	12.95	10.74	14.42	18.4	14.89	14.9	14.79	16.13	15.96
Price/Cash Flow Low	- -	49.7	8.99	-1.46	1.13	-56.48	11.36	8.7	11.3	2.89	9.79	8.95	8.72	8.84	8.61
Price/Free Cash Flow Average	- -	56.57	10.95	-1.63	1.25	-76.48	12.16	9.87	13.43	10.96	12.92	12.22	11.66	11.29	12.35
Price/Free Cash Flow High	- -	61.23	13.19	-1.8	1.37	-91.41	12.98	10.79	14.54	18.52	14.99	15.03	14.79	16.13	15.96
Price/Free Cash Flow Low	- -	49.96	8.99	-1.48	1.13	-56.6	11.39	8.74	11.4	2.91	9.85	9.03	8.72	8.84	8.61
EV/Sales Average	- -	51.94	33.31	40.91	19.8	24.66	52.51	25.31	21.16	20.37	24.91	21.32	25.18	- -	55.89
EV/Sales High	- -	53.88	35.83	41.92	20.47	26.15	53.07	25.97	21.63	23.44	25.99	22.86	26.98	- -	59.26
EV/Sales Low	- -	49.19	31.1	40.03	19.17	22.69	51.99	24.51	20.3	17.09	23.3	19.57	23.5	- -	52.4
EV/EBITDA Average	- -	- -	29,604.27	9,599.09	4,520.4	6,660.9	- -	- -	2,450.79	1,796.91	3,081.26	- -	2,018.44	317.33	151.35
EV/EBITDA High	- -	- -	31,850.24	9,835.91	4,674.12	7,061.93	- -	- -	2,504.95	2,068.1	3,215.08	- -	2,162.34	353.55	160.48
EV/EBITDA Low	- -	- -	27,641.71	9,391.02	4,376.26	6,127.28	- -	- -	2,351.75	1,507.98	2,882.5	- -	1,883.59	299.01	141.91
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	16.42	13.1	11.48	11.44	13.73	12.9	13.04	15.84	11.91	14.54	10.29	10.36	5.89	4.78
High Price	- -	18.2	17.65	13.9	13.18	14.39	14.22	14.77	16.36	17.72	16.98	16.48	12.75	10.53	6.21
Enterprise Value Average	-1	344	1,125	1,536	990	1,112	2,434	1,399	1,635	1,603	2,542	2,325	2,051	1,511	1,283
Enterprise Value High	-1	357	1,210	1,574	1,024	1,179	2,460	1,436	1,671	1,845	2,652	2,493	2,197	1,683	1,360
Enterprise Value Low	-1	326	1,050	1,503	958	1,023	2,410	1,355	1,569	1,345	2,378	2,134	1,914	1,423	1,203

Shares Outstanding	9	9	29	29	29	28	29	29	29	33	47	54	54	55	55
Diluted Weighted Avg Shares	- -	7	19	29	29	29	29	29	29	33	43	52	54	54	55
Basic Weighted Avg Shares	- -	7	19	28	29	28	28	29	29	33	42	52	54	54	55
Revenue per Share	- -	1.01	1.78	1.32	1.75	1.58	1.63	1.94	2.7	2.39	2.41	2.11	1.5	-0.28	0.42
EBITDA per Share	- -	- -	- -	0.01	0.01	0.01	- -	- -	0.02	0.03	0.02	- -	0.02	0.09	0.15
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	0.12	0.72	0.86	1.2	1.42	1.07	1.35	1.29	0.66	1.43	0.58	-0.72	-0.64	-0.02
Basic EPS from Cont Ops	- -	0.13	0.72	0.8	1.27	1.07	1.07	1.35	1.29	0.66	1.43	0.58	-0.72	-0.64	-0.02
Diluted EPS, GAAP	- -	0.12	0.72	0.85	1.2	1.41	1.07	1.35	1.28	0.66	1.42	0.57	-0.72	-0.64	-0.02
Diluted EPS from Cont Ops	- -	0.13	0.72	0.8	1.27	1.07	1.07	1.35	1.28	0.66	1.42	0.57	-0.72	-0.64	-0.02
Dividend per Share	- -	0.25	0.98	1	1	1.03	1.07	1.12	1.31	1.3	1.38	1.39	1.4	1.1	0.71
Cash Flow per Share	- -	0.3	1.34	-7.83	9.67	-0.16	1.1	1.37	1.13	0.96	1.14	1.11	0.86	0.65	0.39
Free Cash Flow per Basic Share	- -	0.3	1.34	-7.91	9.67	-0.16	1.1	1.37	1.13	0.96	1.14	1.11	0.86	0.65	0.39
Cash & Equivalents per Share	0.13	2.52	0.71	0.58	0.18	1.66	0.99	0.39	0.18	2.24	1.07	3.11	2.56	1.33	0.53
Book Value per Share	0.7	17.85	14.25	14.1	14.31	14.71	14.66	14.8	14.77	14.14	14.39	13.73	11.56	9.9	9.26
Tangible Book Value per Share	0.7	17.85	12.16	12.04	12.15	14.71	14.66	14.8	14.77	14.14	14.39	13.73	11.56	9.9	9.26

Ares Commercial Real Estate Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)