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NENNew England Realty Associates Limited Partnership
$57.00$199M
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HomeStocksNENBalance Sheet

New England Realty Associates Limited Partnership (NEN) Balance Sheet

30Y historyFree accessUpdated daily

The partnership's financial position is increasingly vulnerable, evidenced by a negative equity balance of -$78.8 million and a substantial debt load of $526.9 million as of 2026Q1.

NEN Balance Sheet

Income StatementBalance SheetCash FlowRatios
AnnualQuarterly
MetricTTMDec'25Dec'24Dec'23Dec'22Dec'21Dec'20Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08Dec'07Dec'06Dec'05Dec'04Dec'03Dec'02Dec'01Dec'00Dec'99Dec'98Dec'97Dec'96
Total Current Assets27.21B31.15M105.02M106.11M097.88M0000000000000000024.36M18.97M17.2M14.88M1.95M4.19M1.06M2.52M
Cash & Short-Term Investments-------------------------------
Cash Only25.56B17.62M17.62M18.23M49.56M96.08M18.65M7.55M9.06M7.24M7.46M10.3M14.02M14.01M2.34M4.05M3.25M2.88M10.75M6.89M9.77M12.05M9.86M24.36M18.97M16.69M14.48M1.24M623.08K456.28K1.83M
Short-Term Investments0083.59M84.7M88.33M000000000000000000000021.79K3.06M00
Accounts Receivable-------------------------------
Days Sales Outstanding-------------------------------
Inventory0000000000000000000000000000000
Days Inventory Outstanding-------------------------------
Other Current Assets0-28.07B00-140.49M0-20.59M-8.48M-12.89M-8.32M-9.18M-11.45M-14.83M-14.89M-8.91M-4.89M-3.87M-3.92M-11.34M-8M-11.18M-12.53M-11.72M00000000
Total Non-Current Assets466.82M474.18M288.49M279.62M0259M00000000000000000106.9M81.68M77.03M76.56M83.12M52.5M53.71M52.44M
Property, Plant & Equipment00000000230.51M207.15M169.46M176.7M149.12M152.9M95.44M98.92M92.74M95.97M98.56M98.26M99.11M102.97M107.03M104.86M79.56M74.27M75.69M81.98M51.41M51.58M52.29M
Fixed Asset Turnover--------0.25x0.26x0.29x0.26x0.29x0.25x0.37x0.34x0.36x0.35x0.33x0.32x0.32x0.31x0.29x0.30x0.37x0.38x0.34x0.25x0.36x0.34x0.32x
Goodwill0000000000000000000000000000000
Intangible Assets1.47M2.69M334K1.55M026K0000000000000000000000000
Long-Term Investments0------------------------------
Other Non-Current Assets-------------------------------
Total Assets497.3B505.33M393.51M385.73M391.82M356.88M291.67M294.29M247.04M226.81M190.56M200.73M177.78M185.35M121.54M125.38M121.28M129.09M125.24M124.39M130.48M135.05M130.98M120.9M87.81M83.95M84.41M82.03M54.13M54.68M54.89M
Asset Turnover0.00x0.18x0.20x0.19x0.17x0.18x0.21x0.21x0.23x0.23x0.26x0.23x0.24x0.21x0.29x0.27x0.27x0.26x0.26x0.25x0.25x0.24x0.24x0.26x0.33x0.33x0.31x0.25x0.34x0.32x0.30x
Asset Growth %129081.15%28.42%2.02%-1.55%9.79%22.36%-0.89%19.13%8.92%19.02%-5.06%12.91%-4.08%52.5%-3.06%3.38%-6.05%3.07%0.68%-4.67%-3.38%3.11%8.33%37.69%4.6%-0.54%2.9%51.53%-1%-0.38%-0.97%
Total Current Liabilities6.61M6.62M3.58M2.85M02.71M13.89M00000000000000005M4.9M4.3M4M4.5M2.8M2.7M2.4M
Accounts Payable08.87M9M5.72M04.32M0000000000000000000000000
Days Payables Outstanding39.9343.38125.0179.48-73.3-------------------------
Short-Term Debt-------------------------------
Deferred Revenue (Current)0------------------------------
Other Current Liabilities0-39.66M-39.54M-32.43M-2.71M-24.61M11.35M-4.67M-1.92M-7.84M00-135K-8.65M-41.27M-1.11M-942K-874K-823K-8.77M-1.05M-2.51M-715K0000-750K000
Current Ratio4116.59x4.71x29.34x37.19x-36.19x-----------------4.87x3.87x4.00x3.72x0.43x1.50x0.39x1.05x
Quick Ratio4116.59x4.71x29.34x37.19x-36.19x-----------------4.87x3.87x4.00x3.72x0.43x1.50x0.39x1.05x
Cash Conversion Cycle-------------------------------
Total Non-Current Liabilities576.93B572.93M452.36M448.23M0403.46M00000000000000000115.9M82.9M79.6M80.4M77.5M51.3M52M52.5M
Long-Term Debt520.31M520.98M402.63M405.81M408.26M370.48M297.91M295.1M252.45M242.38M212.71M219.5M195.94M189.87M96.78M139.72M141.41M143.94M137.34M108.03M113.6M113.08M114.9M115.91M82.87M79.61M80.37M77.53M51.32M51.96M52.54M
Capital Lease Obligations0------------------------------
Deferred Tax Liabilities0------------------------------
Other Non-Current Liabilities-------------------------------
Total Liabilities576.93B579.55M455.94M451.09M451.69M406.17M333.14M332.12M282.66M262.12M224.79M231.54M205.14M207.19M144.05M146.69M148.2M150.42M142.96M121.73M118.84M119.97M120.51M120.9M87.81M83.95M84.41M82.03M54.13M54.68M54.89M
Total Debt526.92M527.6M406.21M408.66M410.97M370.48M300.44M299.77M254.37M250.22M212.71M219.5M196.07M198.52M138.06M140.83M142.35M144.81M138.16M116.8M114.66M115.59M115.62M115.91M82.87M79.61M80.37M78.28M51.32M51.96M52.54M
Net Debt-25.03B509.98M388.59M390.43M361.41M274.4M281.8M292.22M245.31M242.98M205.25M209.2M182.06M184.51M135.72M136.78M139.1M141.93M127.41M109.91M104.89M103.54M105.75M91.55M63.9M62.92M65.89M77.04M50.7M51.5M50.71M
Debt / Equity-0.01x------------------43.83x9.85x7.66x11.04x8.52x5.21x6.37x9.03x13.98x11.94x14.84x13.47x
Debt / EBITDA11.88x0.02x9.59x11.18x11.93x11.98x9.00x9.38x3.61x3.91x4.29x9.36x9.14x10.17x7.26x8.14x8.73x8.51x8.50x7.56x7.38x7.26x7.34x6.92x4.80x7.73x9.03x12.15x9.64x11.91x13.89x
Net Debt / EBITDA-564.63x0.02x9.17x10.68x10.49x8.88x8.44x9.14x3.48x3.80x4.14x8.92x8.49x9.46x7.14x7.90x8.53x8.34x7.84x7.12x6.75x6.51x6.71x5.46x3.70x6.11x7.41x11.95x9.52x11.80x13.41x
Interest Coverage-1.32x2.01x1.54x1.25x0.80x1.09x1.54x1.34x1.62x1.49x1.38x0.14x1.39x1.47x1.17x0.79x1.41x1.27x1.14x1.09x1.17x3.91x4.00x6.65x4.14x--1.40x-0.15x
Total Equity-79.63B-74.22M-62.43M-65.35M-59.87M-49.29M-41.47M-37.82M-35.62M-35.32M-34.22M-30.81M-27.37M-21.85M-22.52M-21.31M-26.92M-21.33M-17.72M2.66M11.64M15.08M10.47M13.6M15.9M12.5M8.9M5.6M4.3M3.5M3.9M
Equity Growth %-111488.19%-18.87%4.47%-9.16%-21.46%-18.87%-9.64%-6.17%-0.87%-3.19%-11.08%-12.58%-25.26%2.96%-5.65%20.84%-26.19%-20.41%-764.85%-77.11%-22.81%44.06%-23.02%-14.47%27.2%40.45%58.93%30.23%22.86%-10.26%-9.3%
Book Value per Share-22822.44-21.22-17.62-18.20-16.61-13.50-11.35-10.30-9.45-9.37-9.04-8.05-7.02-5.55-5.66-1.78-2.25-1.76-1.410.170.740.960.660.861.010.790.570.350.270.220.24
Total Shareholders' Equity-78.83M-73.47M-61.81M-64.7M-59.27M-48.8M-41.06M-37.45M-35.27M-34.96M-33.88M-30.5M-27.09M-21.63M-22.29M-21.1M-26.65M-21.12M-17.54M2.58M11.53M14.93M10.36M13.6M15.9M12.5M8.9M5.6M4.3M3.5M3.9M
Common Stock-79.07M-73.68M-62.22M-64.94M-59.56M-48.8M-41.06M-37.45M-35.27M-34.96M-33.88M-30.5M-27.09M-21.63M-22.29M-21.1M-26.65M0-17.54M2.58M11.53M14.93M10.36M00000000
Retained Earnings0000000000000000000000000000000
Treasury Stock0000000000000000000000000000000
Accumulated OCI235.45K210.74K408.96K236.38K294.93K000000000000-21.12M0000000000000
Minority Interest-797.1K-742.74K-626.88K-654.38K-600.19K-491.51K-413.28K-376.83K-354.83K-351.75K-340.84K-306.87K-272.86K-218.16K-224.93K-212.94K-269.03K-213.16K-177.17K80.63K116.59K151K104.87K00000000

Key Metrics

Growth RegimeMixed
ProfitabilityNegative
Balance SheetVulnerable
Cash FlowDeteriorating
Top Statement Risk

Negative Equity and Refinancing

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q1)

Persistent Erosion of Equity Base

As reported in recent financial statements, NEN's equity position has deteriorated into negative territory, reaching -$78.8 million in 2026Q1, which signals a concerning trend of capital erosion that may limit the partnership's financial flexibility and ability to absorb future property-level shocks or valuation adjustments.

The consistent decline in equity over the observed ten-quarter period suggests that the partnership is struggling to retain earnings or manage its capital structure effectively. This trajectory warrants close monitoring, as the persistent negative equity position may indicate that the book value of the underlying real estate assets is failing to keep pace with the partnership's mounting liabilities.

Leverage Constraints and Refinancing Risks

Based on the provided balance sheet data, NEN maintains a significant debt load of $526.9 million as of 2026Q1, which, when viewed alongside the partnership's negative equity, suggests that the entity is operating with a highly leveraged capital structure that leaves little room for operational error.

The reliance on debt to fund operations in a high-interest-rate environment creates substantial refinancing risk for the partnership. Investors should consider whether the current cash flow generation is sufficient to service this debt burden without necessitating further asset-level borrowing or potential dilution of unit-holder interests.

Volatile Liquidity and Cash Buffers

According to the latest quarterly filings, NEN's current ratio has exhibited extreme volatility, ranging from 0.23 in 2025Q3 to over 4,000 in 2026Q1, which suggests that the partnership's liquidity management is highly inconsistent and potentially vulnerable to sudden shifts in working capital requirements.

This erratic liquidity profile makes it difficult to assess the partnership's true ability to meet short-term obligations. The wide swings in the current ratio may reflect the timing of debt maturities or irregular cash inflows, which complicates the outlook for maintaining a stable cash buffer for ongoing property maintenance.

Hidden Risks in Asset Valuation

As indicated by the reported figures, the absence of net property, plant, and equipment on the balance sheet suggests that NEN's accounting practices may be masking the true market value of its real estate holdings, potentially leading to a significant undervaluation of the partnership's underlying assets.

While the balance sheet shows zero net PPE, the partnership clearly holds substantial real estate assets, implying that these are likely carried at historical cost or through unconsolidated entities. This accounting treatment obscures the true asset-to-liability relationship and makes it challenging for analysts to determine the actual Net Asset Value of the portfolio.

NEN — Frequently Asked Questions

Quick answers to the most common questions about buying NEN stock.

What are the total assets of New England Realty Associates Limited Partnership (NEN)?

As of 2025, New England Realty Associates Limited Partnership (NEN) had total assets of $505.3M including $31.2M in current assets.

How much debt does New England Realty Associates Limited Partnership (NEN) have?

New England Realty Associates Limited Partnership (NEN) carries total debt of $527.6M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.

What is the book value or shareholders' equity of New England Realty Associates Limited Partnership?

New England Realty Associates Limited Partnership (NEN) has total shareholders' equity (book value) of $-73.5M ($-21.22 book value per share). Book value represents the net worth of the company belonging to common stock holders.

What is New England Realty Associates Limited Partnership's current ratio and liquidity?

New England Realty Associates Limited Partnership (NEN) reported a current ratio of 4.71x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.