Applied Aerospace & Defense, Inc. (AADX) Balance Sheet

NYSE: AADXAssets, liabilities, debt and equity over 2 years.

AADX balance sheet, 2025

December 31, 2025 · U.S. dollars

$999.3M assets = $839.8M liabilities + $159.5M equity

What it owns$999.3MCash & ST investments: $15.5M (1.5%)Receivables: $212.2M (21.2%)Receivables$212.2M · 21%Inventory: $57.4M (5.7%)Other current: $6.5M (0.7%)PP&E: $119.8M (12.0%)PP&E$119.8M · 12%Goodwill & intangibles: $542.2M (54.3%)Goodwill & intangibles$542.2M · 54%Other non-current: $45.8M (4.6%)=How it is financed$999.3MCurrent liabilities: $94.5M (9.5%)Current liabilities $94.5MLong-term debt: $627.0M (62.7%)Long-term debt$627.0M · 63%Other LT liabilities: $118.4M (11.8%)Other LT liabilities$118.4M · 12%Shareholders’ equity: $159.5M (16.0%)Shareholders’ equity$159.5M · 16%

Both columns are drawn to the same scale: what AADX owns equals what it owes plus shareholders’ equity. Hover a block for its value.

AADX financial health

Current ratio3.09
Comfortable · current assets cover current liabilities 3.09×
Debt / equity4.20
High leverage · $4.20 of debt for each $1 of equity
Equity / assets16.0%
Thin equity · of assets funded by shareholders
Cash / debt2.3%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles54.3%
Mostly intangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

AADX balance sheet trends, 2024–2025

MetricTrendThenLatestChange
Total assets$949.8M2024$999.3M2025+5.2%/yr
Total liabilities$783.9M2024$839.8M2025+7.1%/yr
Shareholders’ equity$165.8M2024$159.5M2025−3.8%/yr
Cash & short-term investments$27.5M2024$15.5M2025−43.7%/yr
Total debt$610.0M2024$669.1M2025+9.7%/yr
Net cash (debt)−$582.6M2024−$653.6M2025−$71.0M
Working capital$131.4M2024$197.1M2025+$65.7M
Book value per share$0.972024$0.932025−3.8%/yr
Current ratio2.1620243.092025+0.93
Debt / equity3.6820244.202025+0.52
Shares outstanding170.7M2024170.7M20250.0%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

AADX assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

AADX liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

AADX debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

AADX balance sheet

20252024
Assets
Cash & short-term investments$15.5M$27.5M
Cash & equivalents$15.5M$27.5M
Receivables$212.2M$161.9M
Inventory$57.4M$50.5M
Other current assets$6.5M$5.1M
Total current assets$291.6M$245.0M
Property, plant & equipment (net)$119.8M$116.6M
Goodwill & intangible assets$542.2M$548.9M
Long-term investments$0$0
Other non-current assets$45.8M$39.3M
Total assets$999.3M$949.8M
Liabilities
Accounts payable$37.9M$33.6M
Short-term debt$11.7M$23.9M
Deferred revenue$21.6M$32.0M
Total current liabilities$94.5M$113.5M
Long-term debt$627.0M$554.9M
Lease obligations$35.0M$34.4M
Other long-term liabilities$118.4M$115.5M
Total liabilities$839.8M$783.9M
Shareholders' equity
Retained earnings (deficit)−$63.0M−$46.0M
Accumulated other comprehensive income−$646,000−$418,000
Total shareholders' equity$159.5M$165.8M
Key figures
Total debt$669.1M$610.0M
Net cash (debt)−$653.6M−$582.6M
Working capital$197.1M$131.4M
Tangible book value−$382.7M−$383.1M
Book value per share$0.93$0.97
Shares outstanding170.7M170.7M
Current ratio3.092.16
Quick ratio2.411.67
Debt / equity4.203.68
Equity / assets16.0%17.5%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.

AADX financial position

At the end of fiscal 2025 (December 31, 2025), Applied Aerospace & Defense had total assets of $999.3 million (up 5.2% from a year earlier), total liabilities of $839.8 million and shareholders' equity of $159.5 million. It held $15.5 million in cash and short-term investments against $669.1 million of debt, net debt of $653.6 million. Its current ratio was 3.09. In the latest quarter (ended June 30, 2026) total assets were $1.5 billion and equity $827.9 million.

Related: AADX income statement, AADX cash flow statement, AADX key metrics. See the AADX stock overview for the latest quote and news.

AADX balance sheet FAQ

What are Applied Aerospace & Defense's total assets?

Applied Aerospace & Defense reported total assets of $999.3 million at the end of fiscal 2025 (December 31, 2025), compared with $949.8 million a year earlier.

How much debt does Applied Aerospace & Defense have?

Applied Aerospace & Defense had $669.1 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 4.20.

How much cash does Applied Aerospace & Defense have?

Applied Aerospace & Defense held $15.5 million in cash and short-term investments at the end of fiscal 2025; with $669.1 million of debt that is net debt of $653.6 million.

What is Applied Aerospace & Defense's book value?

Applied Aerospace & Defense's shareholders' equity (book value) was $159.5 million at the end of fiscal 2025, or $0.93 per share.

What is Applied Aerospace & Defense's current ratio?

Applied Aerospace & Defense had current assets of $291.6 million and current liabilities of $94.5 million, a current ratio of 3.09 (it can cover its short-term obligations).

How much goodwill does Applied Aerospace & Defense have?

Applied Aerospace & Defense carried $542.2 million of goodwill and intangible assets, 54.3% of total assets, at the end of fiscal 2025.

Aerospace & Defense: balance sheet