Alta Equipment Group Inc. Liquidation Value
Cash & Equivalents
Key Metrics
Cash Liquidation Value
Liquid Liquidation Value
Operating Liquidation Value
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Liquidation Ladder
| Metric | Total | Per Share |
|---|---|---|
| Cash Liquidation Value | $-1.79B | $-55.09 |
| Liquid Liquidation Value | $-1.60B | $-49.19 |
| Operating Liquidation Value | $-1.12B | $-34.55 |
Key Components (as of 2026-03-31)
| Cash & Equivalents | $23.90M |
| Accounts Receivable | $192.00M |
| Inventory | $476.20M |
| Current Liabilities | $527.80M |
| Long-term Debt (?) | $485.30M |
| Op. Lease Liability (?) | $97.70M |
| Finance Lease (?) | $26.20M |
| Shares Outstanding | 32.5M |
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Historical
| Period | Cash | AR | Inventory | AP | Curr Liab | LT Debt | Op Lease | Fin Lease |
|---|---|---|---|---|---|---|---|---|
| 2026-03-31 | $23.90M | $192.00M | $476.20M | $84.70M | $527.80M | $485.30M | $97.70M | $26.20M |
| 2025-12-31 | $18.60M | $186.70M | $473.30M | $77.70M | $495.00M | $484.50M | $100.10M | $28.20M |
| 2025-09-30 | $14.10M | $216.00M | $504.60M | $93.20M | $542.70M | $483.10M | $102.10M | $30.80M |
SEC Filings
| Period | Form | Filed | Link |
|---|---|---|---|
| 2026-03-31 | 10-Q | 2026-05-07 | View |
| 2025-12-31 | 10-K | 2026-02-26 | View |
| 2025-09-30 | 10-Q | 2025-11-06 | View |
| 2025-06-30 | 10-Q | 2025-08-07 | View |
| 2025-03-31 | 10-Q | 2025-05-07 | View |
| 2024-12-31 | 10-K | 2025-03-05 | View |
| 2024-09-30 | 10-Q | 2024-11-12 | View |
| 2024-06-30 | 10-Q | 2024-08-07 | View |
AI Insights
Alta Equipment Group (ALTG) presents a deeply negative liquidation posture as of March 31, 2026. MFFAIS-reported cash liquidation value of -$1.11B, liquid liquidation value of -$921M, and operating liquidation value of -$445M confirm that across all haircut frameworks, creditors are not made whole and equity recovers nothing. The liability stack is the primary driver: total liabilities of $1.36B against total assets of $1.33B produces negative book equity of -$28.3M before any asset haircuts are applied. Once standard haircuts are imposed, the deficit expands dramatically.
On the asset side: cash of $23.9M recovers at par. AR of $192.0M gross (net $180.7M after $11.3M allowance) recovers approximately $163-172M at 90-95%. Inventory of $476.2M net is the largest tangible asset; at a 60% haircut, recovery is roughly $286M, forfeiting approximately $190M versus book. PP&E net of $69.0M recovers $35-48M at 50-70%. Operating lease ROU assets of $105.7M and finance lease ROU assets (embedded in PP&E) carry near-zero liquidation value. Intangibles of $46.4M net and goodwill of $77.4M are zero-recovery items, representing $123.8M of balance sheet value that evaporates entirely in liquidation. Remaining assets are OtherAssetsNoncurrent ($7.3M) and PrepaidExpenseAndOtherAssets ($31.7M), with minimal liquidation recovery.
On the liability side, obligations are taken at face. The most significant items: Floor Plan Facilities (non-manufacturer and manufacturer combined, embedded in LiabilitiesCurrent and current long-term debt) are substantial; total current liabilities are $527.8M. Long-term debt noncurrent is $485.3M, anchored by the $500M face value 9.000% Senior Secured Second Lien Notes due 2029. Total debt and capital lease obligations are $727.4M. Operating lease liabilities stand at $112.7M ($169.6M undiscounted), and finance lease liabilities are $37.3M ($43.3M undiscounted). ABL facility outstanding is $207.0M. These obligations do not compress in liquidation.
Compared to the prior filing (10-K, December 31, 2025), the current period shows modest deleveraging: ABL borrowings declined from $213.6M to $207.0M, and cash increased from approximately $18.6M implied to $23.9M reported. Floor plan balances increased from $313.6M to $333.8M, partially offsetting the ABL paydown. Inventory net ticked up, as $38.8M was purchased in Q1 2026 (including $30.0M transferred to rental fleet). The goodwill and intangible balances are essentially stable. There is no change in the fundamental recovery posture: equity is deeply underwater, and liquidation value to equity is zero across all scenarios.
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