Atlas Energy Solutions Inc. (AESI) Balance Sheet
AESI balance sheet, 2025
December 31, 2025 · U.S. dollars$2.23B assets = $1.02B liabilities + $1.21B equity
Both columns are drawn to the same scale: what AESI owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AESI financial health
Descriptive bands, not a rating. Fiscal 2025.
AESI balance sheet trends, 2020–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $521.7M2020 | $2.23B2025 | +33.7%/yr | |
| Total liabilities | $190.0M2020 | $1.02B2025 | +39.9%/yr | |
| Shareholders’ equity | $331.7M2020 | $1.21B2025 | +29.5%/yr | |
| Cash & short-term investments | $36.1M2020 | $40.6M2025 | +2.4%/yr | |
| Total debt | $174.9M2020 | $578.9M2025 | +27.1%/yr | |
| Net cash (debt) | −$138.8M2020 | −$538.3M2025 | −$399.5M | |
| Working capital | $12.6M2020 | $96.5M2025 | +$83.9M | |
| Book value per share | $0.752020 | $9.872025 | +67.6%/yr | |
| Current ratio | 1.272020 | 1.462025 | +0.18 | |
| Debt / equity | 0.532020 | 0.482025 | −0.05 | |
| Shares outstanding | 443.9M2020 | 122.4M2025 | −22.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AESI assets
AESI liabilities and equity
AESI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AESI balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $40.6M | $71.7M | $210.2M | $82.0M | $40.4M | $36.1M |
| Cash & equivalents | $40.6M | $71.7M | $210.2M | $82.0M | $40.4M | $36.1M |
| Receivables | $180.8M | $166.0M | $71.2M | $74.4M | $29.4M | $11.6M |
| Inventory | $61.7M | $40.5M | $21.9M | $16.4M | $10.4M | $9.4M |
| Other current assets | $24.4M | $11.2M | $15.5M | $5.9M | $4.0M | $1.5M |
| Total current assets | $307.5M | $289.4M | $318.7M | $178.7M | $84.3M | $58.6M |
| Property, plant & equipment (net) | $1.58B | $1.50B | $938.8M | $564.7M | $458.3M | $461.1M |
| Goodwill & intangible assets | $335.1M | $174.9M | $1.8M | $0 | $200,000 | $100,000 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.2M | $3.5M | $2.4M | $7.5M | $1.1M | $1.9M |
| Total assets | $2.23B | $1.97B | $1.26B | $751.0M | $543.9M | $521.7M |
| Liabilities | ||||||
| Accounts payable | $69.2M | $119.0M | $60.9M | $31.6M | $12.2M | $5.5M |
| Short-term debt | $40.7M | $53.2M | $1.4M | $24.9M | $15.6M | $35.2M |
| Deferred revenue | — | $7.8M | −$1.4M | $30.6M | $2.0M | $4.3M |
| Total current liabilities | $211.1M | $243.1M | $92.6M | $88.7M | $40.6M | $46.1M |
| Long-term debt | $538.2M | $467.0M | $172.8M | $126.6M | $159.7M | $139.3M |
| Lease obligations | $42.9M | $19.4M | $5.2M | — | $308,000 | $454,000 |
| Other long-term liabilities | $270.2M | $226.0M | $128.4M | $24.4M | $4.8M | $4.7M |
| Total liabilities | $1.02B | $936.1M | $393.9M | $239.6M | $205.2M | $190.0M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $1.2M | $1.1M | $1.0M | $407.1M | $407.1M | $394.5M |
| Retained earnings (deficit) | −$50.3M | $0 | −$41.3M | $84.7M | −$87.3M | −$81.5M |
| Accumulated other comprehensive income | — | — | $0 | $19.5M | $18.8M | $18.7M |
| Minority interest | — | — | $0 | $0 | — | — |
| Total shareholders' equity | $1.21B | $1.04B | $867.8M | $511.4M | $338.7M | $331.7M |
| Key figures | ||||||
| Total debt | $578.9M | $530.1M | $178.0M | $147.2M | $175.6M | $174.9M |
| Net cash (debt) | −$538.3M | −$458.4M | $32.2M | −$65.2M | −$135.2M | −$138.8M |
| Working capital | $96.5M | $46.4M | $226.1M | $90.1M | $43.6M | $12.6M |
| Tangible book value | $873.8M | $861.7M | $866.1M | $511.4M | $338.5M | $331.6M |
| Book value per share | $9.87 | $9.49 | $8.68 | $8.95 | $3.39 | $0.75 |
| Shares outstanding | 122.4M | 109.2M | 100.0M | 57.1M | 100.0M | 443.9M |
| Current ratio | 1.46 | 1.19 | 3.44 | 2.02 | 2.07 | 1.27 |
| Quick ratio | 1.05 | 0.98 | 3.04 | 1.76 | 1.72 | 1.03 |
| Debt / equity | 0.48 | 0.51 | 0.21 | 0.29 | 0.52 | 0.53 |
| Equity / assets | 54.3% | 52.5% | 68.8% | 68.1% | 62.3% | 63.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $168.2M | $39.8M | $40.6M | $41.3M | $78.8M | $68.7M | $71.7M | $78.6M | $104.7M | $187.1M | $210.2M | $264.5M |
| Cash & equivalents | $168.2M | $39.8M | $40.6M | $41.3M | $78.8M | $68.7M | $71.7M | $78.6M | $104.7M | $187.1M | $210.2M | $264.5M |
| Receivables | $217.5M | $208.4M | $180.8M | $184.6M | $186.0M | $244.7M | $166.0M | $179.9M | $197.1M | $185.8M | $71.2M | $102.2M |
| Inventory | $64.4M | $66.1M | $61.7M | $56.8M | $55.6M | $51.2M | $40.5M | $37.9M | $41.5M | $34.9M | $21.9M | $18.9M |
| Other current assets | $28.9M | $21.7M | $24.4M | $14.4M | $14.1M | $11.8M | $11.2M | $20.1M | $21.9M | $17.7M | $15.5M | $15.9M |
| Total current assets | $479.1M | $335.9M | $307.5M | $297.2M | $334.5M | $376.4M | $289.4M | $316.5M | $365.2M | $425.5M | $318.7M | $401.5M |
| Property, plant & equipment (net) | $1.63B | $1.63B | $1.58B | $1.59B | $1.57B | $1.57B | $1.50B | $1.47B | $1.43B | $1.31B | $938.8M | $833.5M |
| Goodwill & intangible assets | $322.4M | $329.2M | $335.1M | $345.9M | $335.5M | $340.0M | $174.9M | $184.5M | $187.6M | $203.6M | $1.8M | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $128.4M | $1.1M | $1.2M | $3.2M | $3.3M | $4.5M | $3.5M | $3.3M | $3.5M | $3.7M | $2.4M | $4.3M |
| Total assets | $2.56B | $2.30B | $2.23B | $2.23B | $2.25B | $2.29B | $1.97B | $1.97B | $1.98B | $1.94B | $1.26B | $1.24B |
| Liabilities | ||||||||||||
| Accounts payable | $84.3M | $101.0M | $69.2M | $92.8M | $90.6M | $115.5M | $119.0M | $124.8M | $103.8M | $102.1M | $60.9M | $57.5M |
| Short-term debt | $52.5M | $78.1M | $40.7M | $43.4M | $42.1M | $47.7M | $53.2M | $45.1M | $40.3M | $24.1M | $1.4M | $1.4M |
| Deferred revenue | — | $4.7M | — | $3.0M | $4.7M | $6.7M | $7.8M | $6.8M | $7.1M | — | −$1.4M | — |
| Total current liabilities | $262.7M | $286.1M | $211.1M | $220.6M | $214.7M | $232.0M | $243.1M | $258.2M | $239.3M | $190.1M | $92.6M | $100.6M |
| Long-term debt | $914.2M | $557.0M | $538.2M | $518.4M | $492.1M | $493.5M | $467.0M | $439.0M | $447.4M | $457.2M | $172.8M | $172.5M |
| Lease obligations | $82.5M | $69.9M | $42.9M | $27.1M | $24.0M | $21.9M | $19.4M | $20.4M | $27.4M | — | $5.2M | — |
| Other long-term liabilities | $265.4M | $286.5M | $270.2M | $271.1M | $269.6M | $268.2M | $226.0M | $230.1M | $233.6M | $228.0M | $128.4M | $55.0M |
| Total liabilities | $1.44B | $1.13B | $1.02B | $1.01B | $976.4M | $993.7M | $936.1M | $927.3M | $920.4M | $875.3M | $393.9M | $328.1M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.3M | $1.2M | $1.2M | $1.2M | $1.2M | $1.2M | $1.1M | $1.1M | $1.1M | $1.1M | $1.0M | $1.0M |
| Retained earnings (deficit) | −$122.7M | −$97.6M | −$50.3M | −$28.1M | −$4.3M | $0 | $0 | $0 | $369,000 | −$14.5M | −$41.3M | −$77.0M |
| Accumulated other comprehensive income | — | — | — | — | — | $0 | — | — | $0 | $0 | $0 | — |
| Total shareholders' equity | $1.11B | $1.17B | $1.21B | $1.22B | $1.27B | $1.30B | $1.04B | $1.05B | $1.06B | $1.07B | $867.8M | −$76.0M |
| Key figures | ||||||||||||
| Total debt | $966.7M | $692.6M | $578.9M | $583.6M | $552.5M | $555.8M | $530.1M | $495.7M | $501.6M | $481.3M | $178.0M | $172.5M |
| Net cash (debt) | −$798.5M | −$652.8M | −$538.3M | −$542.3M | −$473.7M | −$487.1M | −$458.4M | −$417.0M | −$396.8M | −$294.2M | $32.2M | $92.0M |
| Working capital | $216.4M | $49.8M | $96.5M | $76.6M | $119.7M | $144.4M | $46.4M | $58.3M | $125.8M | $235.4M | $226.1M | $301.0M |
| Tangible book value | $790.6M | $839.7M | $873.8M | $877.5M | $935.9M | $961.1M | $861.7M | $861.7M | $874.3M | $862.8M | $866.1M | −$76.0M |
| Book value per share | $8.91 | $9.38 | $9.75 | $9.89 | $10.28 | $10.87 | $9.32 | $9.42 | $9.48 | $9.71 | $8.68 | −$0.76 |
| Shares outstanding | 124.9M | 124.6M | 124.0M | 123.7M | 123.7M | 119.7M | 111.3M | 111.1M | 112.0M | 109.9M | 100.0M | 100.0M |
| Current ratio | 1.82 | 1.17 | 1.46 | 1.35 | 1.56 | 1.62 | 1.19 | 1.23 | 1.53 | 2.24 | 3.44 | 3.99 |
| Quick ratio | 1.47 | 0.87 | 1.05 | 1.02 | 1.23 | 1.35 | 0.98 | 1.00 | 1.26 | 1.96 | 3.04 | 3.65 |
| Debt / equity | 0.87 | 0.59 | 0.48 | 0.48 | 0.43 | 0.43 | 0.51 | 0.47 | 0.47 | 0.45 | 0.21 | — |
| Equity / assets | 43.6% | 50.9% | 54.3% | 54.8% | 56.6% | 56.7% | 52.5% | 53.0% | 53.6% | 54.9% | 68.8% | −6.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 24, 2026); data from EODHD.
AESI financial position
At the end of fiscal 2025 (December 31, 2025), Atlas Energy Solutions had total assets of $2.2 billion (up 13.0% from a year earlier), total liabilities of $1.0 billion and shareholders' equity of $1.2 billion. It held $40.6 million in cash and short-term investments against $578.9 million of debt, net debt of $538.3 million. Its current ratio was 1.46. In the latest quarter (ended June 30, 2026) total assets were $2.6 billion and equity $1.1 billion.
Related: AESI income statement, AESI cash flow statement, AESI key metrics. See the AESI stock overview for the latest quote and news.
AESI balance sheet FAQ
What are Atlas Energy Solutions's total assets?
Atlas Energy Solutions reported total assets of $2.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.0 billion a year earlier.
How much debt does Atlas Energy Solutions have?
Atlas Energy Solutions had $578.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.48.
How much cash does Atlas Energy Solutions have?
Atlas Energy Solutions held $40.6 million in cash and short-term investments at the end of fiscal 2025; with $578.9 million of debt that is net debt of $538.3 million.
What is Atlas Energy Solutions's book value?
Atlas Energy Solutions's shareholders' equity (book value) was $1.2 billion at the end of fiscal 2025, or $9.87 per share.
What is Atlas Energy Solutions's current ratio?
Atlas Energy Solutions had current assets of $307.5 million and current liabilities of $211.1 million, a current ratio of 1.46 (it can cover its short-term obligations).
How much goodwill does Atlas Energy Solutions have?
Atlas Energy Solutions carried $335.1 million of goodwill and intangible assets, 15.0% of total assets, at the end of fiscal 2025.