Thunder Power Holdings, Inc. (AIEV) Balance Sheet
AIEV balance sheet, 2025
December 31, 2025 · U.S. dollars$13.2M assets = $8.4M liabilities + $4.8M equity
Both columns are drawn to the same scale: what AIEV owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AIEV financial health
Descriptive bands, not a rating. Fiscal 2025.
AIEV balance sheet trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $52,3282021 | $13.2M2025 | +298.3%/yr | |
| Total liabilities | $656,8232021 | $8.4M2025 | +88.9%/yr | |
| Shareholders’ equity | −$604,4952021 | $4.8M2025 | — | |
| Cash & short-term investments | $2292021 | $11,0262025 | +163.4%/yr | |
| Total debt | $74,3322021 | $3,4552024 | −64.0%/yr | |
| Net cash (debt) | −$74,1032021 | $49,1612024 | +$123,264 | |
| Working capital | −$656,5942021 | $4.8M2025 | +$5.5M | |
| Book value per share | −$0.012021 | $0.092025 | — | |
| Current ratio | 0.002021 | 1.572025 | +1.57 | |
| Debt / equity | 0.002022 | 0.002024 | 0.00 | |
| Shares outstanding | 46.7M2021 | 50.7M2025 | +2.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AIEV assets
AIEV liabilities and equity
AIEV debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AIEV balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $11,026 | $52,616 | $196,907 | $546,632 | $229 |
| Cash & equivalents | $10,093 | $52,616 | $18,330 | $546,632 | $229 |
| Short-term investments | $933 | $0 | $178,577 | — | — |
| Receivables | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $13.1M | $13.5M | $1.1M | $168,491 | $0 |
| Total current assets | $13.2M | $13.6M | $1.2M | $715,123 | $229 |
| Property, plant & equipment (net) | $17,865 | $4,614 | $7,714 | $38,798 | $52,099 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $0 | $100.5M | $0 |
| Total assets | $13.2M | $13.6M | $1.3M | $101.2M | $52,328 |
| Liabilities | |||||
| Accounts payable | — | — | — | −$31,382 | — |
| Short-term debt | — | $3,455 | $2.2M | $127,635 | $74,332 |
| Deferred revenue | — | — | — | $300,000 | $500,000 |
| Total current liabilities | $8.4M | $7.0M | $2.8M | $544,947 | $656,823 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $16,580 | $3,455 | $0 | $131,077 | $74,332 |
| Other long-term liabilities | $1,703 | $0 | $3.4M | $3.4M | $0 |
| Total liabilities | $8.4M | $7.0M | $6.3M | $4.0M | $656,823 |
| Shareholders' equity | |||||
| Common stock & paid-in capital | — | $5,073 | $29,196 | $100.1M | $24,706 |
| Retained earnings (deficit) | −$39.1M | −$36.9M | −$34.4M | −$2.8M | −$32.2M |
| Accumulated other comprehensive income | — | $133 | — | — | — |
| Total shareholders' equity | $4.8M | $6.5M | −$5.0M | $97.3M | −$604,495 |
| Key figures | |||||
| Total debt | — | $3,455 | $2.2M | $131,077 | $74,332 |
| Net cash (debt) | — | $49,161 | −$2.0M | $415,555 | −$74,103 |
| Working capital | $4.8M | $6.5M | −$1.6M | $170,176 | −$656,594 |
| Tangible book value | $4.8M | $6.5M | −$5.0M | $97.3M | −$604,495 |
| Book value per share | $0.09 | $0.13 | — | $2.08 | −$0.01 |
| Shares outstanding | 50.7M | 50.7M | — | 46.7M | 46.7M |
| Current ratio | 1.57 | 1.93 | 0.44 | 1.31 | 0.00 |
| Quick ratio | 0.00 | 0.01 | 0.07 | 1.00 | 0.00 |
| Debt / equity | — | 0.00 | — | 0.00 | — |
| Equity / assets | 36.6% | 48.1% | −397.4% | 96.1% | −1,155.2% |
| Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $9,446 | $11,026 | $17,434 | $98,570 | $21,212 | $52,616 | $33,636 | $921,349 | $35,622 | $18,330 | $110,855 | $410,947 |
| Cash & equivalents | $8,666 | $10,093 | $16,441 | $97,454 | $19,812 | $52,616 | $33,636 | $921,349 | $35,622 | $18,330 | $110,855 | $410,947 |
| Short-term investments | $780 | $933 | $993 | $1,116 | $1,400 | $0 | — | — | — | — | — | — |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $13.1M | $13.1M | $13.5M | $13.5M | $13.5M | $13.5M | $13.5M | $13.6M | $7,500 | $45,726 | $77,280 | $70,583 |
| Total current assets | $13.1M | $13.2M | $13.5M | $13.6M | $13.5M | $13.6M | $13.5M | $14.5M | $43,122 | $64,056 | $188,135 | $481,530 |
| Property, plant & equipment (net) | $14,119 | $17,865 | $21,465 | $24,791 | $28,512 | $4,614 | $11,797 | $18,969 | $0 | $7,714 | $15,083 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $55.0M | $54.1M | $53.2M | $52.6M |
| Total assets | $13.2M | $13.2M | $13.5M | $13.6M | $13.5M | $13.6M | $13.5M | $14.6M | $55.0M | $54.1M | $53.4M | $53.0M |
| Liabilities | ||||||||||||
| Short-term debt | — | — | — | — | — | $3,455 | $10,294 | $16,956 | $2.8M | $2.2M | $1.6M | $1.1M |
| Total current liabilities | $8.8M | $8.4M | $8.3M | $8.3M | $7.7M | $7.0M | $6.9M | $7.1M | $30.1M | $2.8M | $1.7M | $1.4M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $12,844 | $16,580 | $20,180 | $23,518 | $27,226 | $3,455 | $10,294 | $16,956 | — | $0 | $0 | — |
| Other long-term liabilities | $0 | $1,703 | $5,501 | $9,166 | $12,943 | $0 | $0 | $0 | $3.4M | $3.4M | $3.4M | $3.4M |
| Total liabilities | $8.8M | $8.4M | $8.3M | $8.3M | $7.7M | $7.0M | $6.9M | $7.1M | $33.5M | $6.3M | $5.1M | $4.8M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | — | — | — | — | $5,073 | $5,072 | $4,686 | $28.7M | $54.0M | $53.2M | $52.3M |
| Retained earnings (deficit) | −$39.5M | −$39.1M | −$38.6M | −$38.2M | −$37.7M | −$36.9M | −$36.9M | −$36.0M | −$7.2M | −$6.1M | −$4.9M | −$4.1M |
| Accumulated other comprehensive income | — | — | — | — | — | $133 | $379 | — | — | — | — | — |
| Total shareholders' equity | $4.3M | $4.8M | $5.2M | $5.3M | $5.8M | $6.5M | $6.6M | $7.5M | $21.5M | $47.9M | $48.3M | $48.3M |
| Key figures | ||||||||||||
| Total debt | — | — | — | — | — | $3,455 | $10,294 | $16,956 | $2.8M | $2.2M | $1.6M | $1.1M |
| Net cash (debt) | — | — | — | — | — | $49,161 | $23,342 | $904,393 | −$2.7M | −$2.1M | −$1.5M | −$666,553 |
| Working capital | $4.3M | $4.8M | $5.2M | $5.2M | $5.8M | $6.5M | $6.5M | $7.5M | −$30.0M | −$2.8M | −$1.5M | −$869,962 |
| Tangible book value | $4.3M | $4.8M | $5.2M | $5.3M | $5.8M | $6.5M | $6.6M | $7.5M | $21.5M | $47.9M | $48.3M | $48.3M |
| Book value per share | $0.09 | $0.09 | $0.10 | $0.10 | $0.11 | $0.13 | $0.13 | $0.19 | — | — | — | $1.45 |
| Shares outstanding | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M | 50.6M | 50.6M | 39.6M | — | — | — | 33.2M |
| Current ratio | 1.49 | 1.57 | 1.63 | 1.63 | 1.74 | 1.93 | 1.94 | 2.06 | 0.00 | 0.02 | 0.11 | 0.36 |
| Quick ratio | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.01 | 0.00 | 0.13 | 0.00 | 0.01 | 0.06 | 0.30 |
| Debt / equity | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.13 | 0.05 | 0.03 | 0.02 |
| Equity / assets | 32.9% | 36.6% | 38.8% | 38.7% | 42.7% | 48.1% | 48.5% | 51.5% | 39.1% | 88.4% | 90.4% | 91.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed —); data from EODHD.
AIEV financial position
At the end of fiscal 2025 (December 31, 2025), Thunder Power had total assets of $13.2 million (down 2.8% from a year earlier), total liabilities of $8.4 million and shareholders' equity of $4.8 million. Its current ratio was 1.57. In the latest quarter (ended March 31, 2026) total assets were $13.2 million and equity $4.3 million.
Related: AIEV income statement, AIEV cash flow statement, AIEV key metrics. See the AIEV stock overview for the latest quote and news.
AIEV balance sheet FAQ
What are Thunder Power's total assets?
Thunder Power reported total assets of $13.2 million at the end of fiscal 2025 (December 31, 2025), compared with $13.6 million a year earlier.
How much cash does Thunder Power have?
Thunder Power held $0.0 million in cash and short-term investments at the end of fiscal 2025.
What is Thunder Power's book value?
Thunder Power's shareholders' equity (book value) was $4.8 million at the end of fiscal 2025, or $0.09 per share.
What is Thunder Power's current ratio?
Thunder Power had current assets of $13.2 million and current liabilities of $8.4 million, a current ratio of 1.57 (it can cover its short-term obligations).