Assured Guaranty Ltd. (AGO) Balance Sheet
AGO balance sheet, 2025
December 31, 2025 · U.S. dollars$12.18B assets = $6.39B liabilities + $5.79B equity
Both columns are drawn to the same scale: what AGO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AGO financial health
Descriptive bands, not a rating. Fiscal 2025.
AGO balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $14.15B2016 | $12.18B2025 | −1.7%/yr | |
| Total liabilities | $7.65B2016 | $6.39B2025 | −2.0%/yr | |
| Shareholders’ equity | $6.50B2016 | $5.66B2025 | −1.5%/yr | |
| Cash & short-term investments | $10.94B2016 | $2.43B2025 | −15.4%/yr | |
| Total debt | $1.31B2016 | $1.70B2025 | +3.0%/yr | |
| Net cash (debt) | $9.63B2016 | $730.0M2025 | −$8.9B | |
| Working capital | $10.88B2016 | $521.0M2025 | −$10.4B | |
| Book value per share | $48.502016 | $114.642025 | +10.0%/yr | |
| Debt / equity | 0.202016 | 0.302025 | +0.10 | |
| Shares outstanding | 134.1M2016 | 49.4M2025 | −10.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AGO assets
AGO liabilities and equity
AGO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AGO balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $2.43B | $2.46B | $8.06B | $8.04B | $9.55B | $9.79B | $10.29B | $10.92B | $11.45B | $10.94B |
| Cash & equivalents | $388.0M | $121.0M | $97.0M | $107.0M | $120.0M | $162.0M | $169.0M | $104.0M | $144.0M | $118.0M |
| Short-term investments | $2.05B | $2.34B | $7.97B | $7.93B | $9.43B | $9.62B | $10.12B | $10.82B | $11.30B | $10.82B |
| Receivables | $2.02B | $1.95B | $1.77B | $1.55B | $2.17B | $2.36B | $2.03B | $1.39B | $1.55B | $1.03B |
| Inventory | $0 | $0 | −$3.91B | −$2.92B | −$3.60B | −$3.49B | −$3.60B | −$2.23B | −$3.52B | −$2.70B |
| Other current assets | $0 | $0 | $0 | $2.92B | $3.60B | $3.49B | $3.60B | $2.23B | $2.28B | $1.66B |
| Total current assets | $4.46B | $4.41B | $132.0M | $9.59B | $11.72B | $12.15B | $12.32B | $12.32B | $11.75B | $10.94B |
| Property, plant & equipment (net) | $54.0M | $101.0M | $366.0M | $5.49B | $5.27B | $1.91B | $572.0M | $10.96B | −$101.0M | −$106.0M |
| Goodwill & intangible assets | $192.0M | $176.0M | $6.0M | $163.0M | $175.0M | $203.0M | $216.0M | $129.0M | $101.0M | $106.0M |
| Long-term investments | $7.61B | $7.88B | $8.61B | $8.37B | $9.61B | $9.84B | $10.24B | $10.87B | $11.39B | $10.98B |
| Other non-current assets | $0 | $0 | $3.42B | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $12.18B | $11.90B | $12.54B | $16.84B | $18.21B | $15.33B | $14.33B | $13.60B | $14.43B | $14.15B |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | $1.0M | $16.0M | $33.0M | $30.0M | $24.0M | $61.0M | $64.0M |
| Short-term debt | $13.0M | $13.0M | $16.0M | $23.0M | $23.0M | $20.0M | $20.0M | $0 | $1.29B | $1.31B |
| Deferred revenue | $3.62B | $3.72B | — | — | $43.0M | — | $3.74B | $3.51B | $3.48B | $3.51B |
| Total current liabilities | $3.93B | $3.99B | $385.0M | $297.0M | $928.0M | $1.12B | $1.08B | $1.18B | $61.0M | $64.0M |
| Long-term debt | $1.70B | $1.70B | $1.69B | $1.68B | $1.67B | $1.22B | $1.24B | $1.23B | $1.29B | $1.31B |
| Other long-term liabilities | $749.0M | $4.65B | $5.08B | $9.88B | $0 | $0 | $0 | $5.82B | $0 | $0 |
| Total liabilities | $6.39B | $6.35B | $6.77B | $11.55B | $1.67B | $1.22B | $1.24B | $7.05B | $7.59B | $7.65B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $15.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M |
| Retained earnings (deficit) | $5.83B | $5.88B | $6.07B | $5.58B | $5.99B | $6.14B | $6.29B | $6.37B | $5.89B | $5.29B |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$168.0M | −$385.0M | −$359.0M | −$515.0M | $300.0M | $498.0M | $342.0M | $93.0M | $372.0M | $149.0M |
| Minority interest | $126.0M | $58.0M | $52.0M | $228.0M | $186.0M | $41.0M | $6.0M | — | $0 | $0 |
| Total shareholders' equity | $5.66B | $5.50B | $5.71B | $5.29B | $16.54B | $14.11B | $13.09B | $6.55B | $6.84B | $6.50B |
| Key figures | ||||||||||
| Total debt | $1.70B | $1.70B | $1.69B | $1.70B | $1.70B | $1.24B | $1.25B | $1.23B | $1.29B | $1.31B |
| Net cash (debt) | $730.0M | $766.0M | $6.37B | $6.34B | $7.85B | $8.54B | $9.04B | $9.69B | $10.15B | $9.63B |
| Working capital | $521.0M | $425.0M | −$253.0M | $9.29B | $10.79B | $11.03B | $11.24B | $11.14B | $11.69B | $10.88B |
| Tangible book value | $5.47B | $5.32B | $5.71B | $5.13B | $16.36B | $13.91B | $12.88B | $6.43B | $6.74B | $6.40B |
| Book value per share | $114.64 | $101.20 | $95.86 | $82.82 | $222.54 | $163.69 | $130.65 | $58.89 | $55.92 | $48.50 |
| Shares outstanding | 49.4M | 54.3M | 59.6M | 63.9M | 74.3M | 86.2M | 100.2M | 111.3M | 122.3M | 134.1M |
| Current ratio | 1.13 | 1.11 | 0.34 | 32.29 | 12.63 | 10.83 | 11.40 | 10.46 | 192.69 | 170.92 |
| Quick ratio | 1.13 | 1.11 | 25.54 | 32.29 | 12.63 | 10.83 | 11.40 | 10.46 | 213.07 | 187.09 |
| Debt / equity | 0.30 | 0.31 | 0.30 | 0.32 | 0.10 | 0.09 | 0.10 | 0.19 | 0.19 | 0.20 |
| Equity / assets | 46.5% | 46.2% | 45.6% | 31.4% | 90.8% | 92.0% | 91.4% | 48.2% | 47.4% | 46.0% |
| 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 | $7.13B | $2.34B | $2.43B | $2.63B | $2.29B | $2.43B | $2.46B | $147.0M | $2.73B | $2.65B | $8.06B | $2.29B |
| Cash & equivalents | $310.0M | $312.0M | $388.0M | $157.0M | $301.0M | $177.0M | $121.0M | $147.0M | $92.0M | $115.0M | $97.0M | $108.0M |
| Short-term investments | $6.82B | $2.02B | $2.05B | $2.47B | $1.99B | $2.25B | $2.34B | $2.68B | $2.63B | $2.53B | $7.97B | $2.18B |
| Receivables | $1.52B | $1.98B | $2.02B | $2.04B | $2.01B | $1.96B | $1.95B | $1.93B | $1.76B | $1.75B | $1.77B | $1.66B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$7.57B | −$7.66B | −$3.91B | −$4.98B |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4.64B | $4.83B | $3.91B | $8.78B |
| Total current assets | $1.83B | $4.32B | $4.46B | $4.67B | $4.30B | $4.38B | $1.68B | $1.66B | $1.56B | $1.56B | $9.83B | $7.75B |
| Property, plant & equipment (net) | $0 | $0 | $54.0M | $0 | $121.0M | $119.0M | $101.0M | $0 | $378.0M | $377.0M | $366.0M | $330.0M |
| Goodwill & intangible assets | $201.0M | $197.0M | $192.0M | $190.0M | $185.0M | $181.0M | $176.0M | $172.0M | $6.37B | $6.49B | $6.0M | $6.0M |
| Long-term investments | $7.94B | $7.97B | $7.61B | $7.89B | $7.79B | $7.86B | $7.88B | $8.19B | $8.10B | $8.18B | $8.61B | $8.37B |
| Other non-current assets | $2.67B | $150.0M | $0 | $0 | $0 | $0 | $2.06B | $2.27B | $0 | $0 | $0 | $0 |
| Total assets | $12.64B | $12.63B | $12.18B | $12.10B | $12.10B | $11.94B | $11.90B | $12.29B | $12.09B | $12.17B | $12.54B | $11.94B |
| Liabilities | ||||||||||||
| Accounts payable | — | — | — | — | — | — | — | — | — | $1.75B | — | — |
| Short-term debt | — | — | $0 | $0 | $0 | $0 | $13.0M | $0 | — | — | $16.0M | $0 |
| Deferred revenue | — | $3.61B | $3.62B | $3.66B | $3.67B | $3.67B | $3.72B | $3.63B | — | — | — | — |
| Total current liabilities | — | $4.21B | $3.93B | $3.97B | $3.99B | $3.96B | $3.99B | $3.92B | $301.0M | $346.0M | $385.0M | $395.0M |
| Long-term debt | $1.71B | $1.71B | $1.70B | $1.70B | $1.70B | $1.70B | $1.70B | $1.70B | $1.70B | $1.70B | $1.69B | $1.69B |
| Other long-term liabilities | $5.35B | $1.15B | $749.0M | $691.0M | $675.0M | $616.0M | $4.65B | $4.81B | $4.80B | $4.79B | $5.08B | $4.95B |
| Total liabilities | $7.06B | $7.07B | $6.39B | $6.36B | $6.37B | $6.28B | $6.35B | $6.51B | $6.49B | $6.49B | $6.77B | $6.64B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | — | $15.0M | $467,090 | $481,000 | $0 | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M |
| Retained earnings (deficit) | $5.81B | $5.82B | $5.83B | $5.84B | $5.86B | $5.90B | $5.88B | $5.96B | $5.93B | $6.01B | $6.07B | $5.82B |
| Accumulated other comprehensive income | −$251.0M | −$280.0M | −$168.0M | −$179.0M | −$227.0M | −$314.0M | −$385.0M | −$231.0M | −$392.0M | −$386.0M | −$359.0M | −$565.0M |
| Minority interest | $23.0M | $22.0M | $126.0M | $79.0M | $96.0M | — | — | — | — | — | — | — |
| Total shareholders' equity | $5.56B | $5.54B | $5.66B | $5.66B | $5.63B | $5.59B | $5.50B | $5.73B | $5.54B | $5.63B | $5.71B | $5.25B |
| Key figures | ||||||||||||
| Total debt | $1.71B | $1.71B | $1.70B | $1.70B | $1.70B | $1.70B | $1.70B | $1.70B | $1.70B | $1.70B | $1.69B | $1.69B |
| Net cash (debt) | $5.42B | $632.0M | $730.0M | $927.0M | $587.0M | $728.0M | $766.0M | −$1.55B | $1.03B | $950.0M | $6.37B | $598.0M |
| Working capital | — | $103.0M | $521.0M | $694.0M | $311.0M | $420.0M | −$2.31B | −$2.26B | $1.26B | $1.22B | $9.45B | $7.36B |
| Tangible book value | $5.36B | $5.34B | $5.47B | $5.47B | $5.45B | $5.41B | $5.32B | $5.56B | −$833.0M | −$865.0M | $5.71B | $5.25B |
| Book value per share | $124.64 | $122.07 | $114.64 | $114.53 | $114.03 | $110.26 | $105.88 | $107.27 | $100.71 | $98.58 | $97.99 | $88.12 |
| Shares outstanding | 44.6M | 45.4M | 49.4M | 49.4M | 49.4M | 50.7M | 51.9M | 53.4M | 55.0M | 57.1M | 58.3M | 59.6M |
| Current ratio | — | 1.02 | 1.13 | 1.17 | 1.08 | 1.11 | 0.42 | 0.42 | 5.20 | 4.52 | 25.54 | 19.62 |
| Quick ratio | — | 1.02 | 1.13 | 1.17 | 1.08 | 1.11 | 1.11 | 0.53 | 14.92 | 12.69 | 25.54 | 10.00 |
| Debt / equity | 0.31 | 0.31 | 0.30 | 0.30 | 0.30 | 0.30 | 0.31 | 0.30 | 0.31 | 0.30 | 0.30 | 0.32 |
| Equity / assets | 44.0% | 43.9% | 46.5% | 46.8% | 46.6% | 46.8% | 46.2% | 46.6% | 45.8% | 46.3% | 45.6% | 44.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.
AGO financial position
At the end of fiscal 2025 (December 31, 2025), Assured Guaranty had total assets of $12.2 billion (up 2.3% from a year earlier), total liabilities of $6.4 billion and shareholders' equity of $5.7 billion. It held $2.4 billion in cash and short-term investments against $1.7 billion of debt, a net cash position of $730.0 million. Its current ratio was 1.13. In the latest quarter (ended June 30, 2026) total assets were $12.6 billion and equity $5.6 billion.
Related: AGO income statement, AGO cash flow statement, AGO key metrics. See the AGO stock overview for the latest quote and news.
AGO balance sheet FAQ
What are Assured Guaranty's total assets?
Assured Guaranty reported total assets of $12.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $11.9 billion a year earlier.
How much debt does Assured Guaranty have?
Assured Guaranty had $1.7 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.30.
How much cash does Assured Guaranty have?
Assured Guaranty held $2.4 billion in cash and short-term investments at the end of fiscal 2025; with $1.7 billion of debt that is net cash of $730.0 million.
What is Assured Guaranty's book value?
Assured Guaranty's shareholders' equity (book value) was $5.7 billion at the end of fiscal 2025, or $114.64 per share.
What is Assured Guaranty's current ratio?
Assured Guaranty had current assets of $4.5 billion and current liabilities of $3.9 billion, a current ratio of 1.13 (it can cover its short-term obligations).
How much goodwill does Assured Guaranty have?
Assured Guaranty carried $192.0 million of goodwill and intangible assets, 1.6% of total assets, at the end of fiscal 2025.