Alto Neuroscience, Inc. (ANRO) Balance Sheet
ANRO balance sheet, FY2025
September 30, 2025 · U.S. dollars$184.7M assets = $33.5M liabilities + $151.1M equity
Both columns are drawn to the same scale: what ANRO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ANRO financial health
Descriptive bands, not a rating. Fiscal FY2025.
ANRO balance sheet trends, FY2021–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $28.8MFY2021 | $184.7MFY2025 | +59.1%/yr | |
| Total liabilities | $41.3MFY2021 | $33.5MFY2025 | −5.0%/yr | |
| Shareholders’ equity | −$12.5MFY2021 | $151.1MFY2025 | — | |
| Cash & short-term investments | $25.7MFY2021 | $176.5MFY2025 | +61.9%/yr | |
| Total debt | $38.2MFY2021 | $4.4MFY2025 | −41.7%/yr | |
| Net cash (debt) | −$12.5MFY2021 | $172.1MFY2025 | +$184.5M | |
| Working capital | $25.9MFY2021 | $166.4MFY2025 | +$140.5M | |
| Book value per share | −$0.49FY2021 | $5.24FY2025 | — | |
| Debt / equity | 0.11FY2024 | 0.03FY2025 | −0.08 | |
| Shares outstanding | 25.6MFY2021 | 28.9MFY2025 | +3.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ANRO assets
ANRO liabilities and equity
ANRO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ANRO balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $176.5M | $168.2M | $82.5M | $48.3M | $25.7M |
| Cash & equivalents | $176.5M | $168.2M | $82.5M | $48.3M | $25.7M |
| Receivables | $0 | $0 | $8,000 | $546,000 | $1.7M |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $1.2M | $1.1M | $2.8M | $330,000 | $236,000 |
| Total current assets | $177.7M | $169.3M | $85.4M | $49.2M | $27.7M |
| Property, plant & equipment (net) | $6.1M | $7.7M | $1.1M | $1.6M | $1.1M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $838,000 | $504,000 | $131,000 | $55,000 | $50,000 |
| Total assets | $184.7M | $177.5M | $86.6M | $50.9M | $28.8M |
| Liabilities | |||||
| Accounts payable | $1.9M | $1.6M | $1.1M | $1.6M | $600,000 |
| Short-term debt | $585,000 | $870,000 | $125,000 | $283,000 | — |
| Total current liabilities | $11.3M | $10.0M | $5.6M | $5.6M | $1.8M |
| Long-term debt | $18.4M | $11.6M | $9.9M | $9.5M | $0 |
| Lease obligations | $5.0M | $5.4M | $125,000 | $283,000 | $0 |
| Other long-term liabilities | $3.8M | $4.5M | $142.8M | $74.2M | $39.5M |
| Total liabilities | $33.5M | $26.1M | $158.3M | $89.3M | $41.3M |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $3,000 | $3,000 | — | $1,000 | $1,000 |
| Retained earnings (deficit) | −$201.6M | −$138.4M | −$77.0M | −$40.7M | −$12.9M |
| Accumulated other comprehensive income | $22,000 | −$101,000 | −$79,000 | −$46,000 | −$22,000 |
| Total shareholders' equity | $151.1M | $151.5M | −$71.7M | −$38.4M | −$12.5M |
| Key figures | |||||
| Total debt | $4.4M | $16.9M | $10.0M | $82.1M | $38.2M |
| Net cash (debt) | $172.1M | $151.3M | $72.6M | −$33.8M | −$12.5M |
| Working capital | $166.4M | $159.3M | $79.8M | $43.7M | $25.9M |
| Tangible book value | $151.1M | $151.5M | −$71.7M | −$38.4M | −$12.5M |
| Book value per share | $5.24 | $6.16 | −$2.67 | −$1.50 | −$0.49 |
| Shares outstanding | 28.9M | 24.6M | 26.9M | 25.6M | 25.6M |
| Current ratio | 15.69 | 16.92 | 15.22 | 8.85 | 15.30 |
| Quick ratio | 15.58 | 16.81 | 14.72 | 8.79 | 15.16 |
| Debt / equity | 0.03 | 0.11 | — | — | — |
| Equity / assets | 81.8% | 85.3% | −82.7% | −75.5% | −43.3% |
| 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 | $243.7M | $263.8M | $176.5M | $137.8M | $147.6M | $160.8M | $168.2M | $181.7M | $193.1M | $205.9M | $82.5M | $51.3M |
| Cash & equivalents | $243.7M | $263.8M | $176.5M | $137.8M | $147.6M | $160.8M | $168.2M | $181.7M | $193.1M | $205.9M | $82.5M | $51.3M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $8,000 | $8,000 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $636,000 |
| Other current assets | $3.6M | $5.4M | $1.2M | $1.6M | $2.3M | $2.8M | $1.1M | $1.8M | $2.3M | $2.4M | $2.8M | $117,000 |
| Total current assets | $247.3M | $269.1M | $177.7M | $139.4M | $149.8M | $163.5M | $169.3M | $183.5M | $195.4M | $208.3M | $85.4M | $52.0M |
| Property, plant & equipment (net) | $5.9M | $6.3M | $6.1M | $6.5M | $7.0M | $7.3M | $7.7M | $7.6M | $1.4M | $1.6M | $1.1M | $987,000 |
| 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 | $838,000 | $838,000 | $838,000 | $1.1M | $1.1M | $1.1M | $504,000 | $504,000 | $504,000 | $58,000 | $131,000 | $201,000 |
| Total assets | $254.1M | $276.3M | $184.7M | $147.0M | $157.9M | $171.9M | $177.5M | $191.6M | $197.4M | $209.9M | $86.6M | $53.2M |
| Liabilities | ||||||||||||
| Accounts payable | $4.0M | $3.4M | $1.9M | $2.1M | $1.7M | $1.4M | $1.6M | $2.3M | $1.8M | $2.4M | $1.1M | $1.8M |
| Short-term debt | $3.8M | $2.1M | $1.7M | $1.1M | $973,000 | $876,000 | $870,000 | $4.2M | $2.3M | $1.2M | $125,000 | $198,000 |
| Deferred revenue | — | — | — | — | — | — | — | — | — | — | — | $3.8M |
| Total current liabilities | $16.7M | $13.1M | $11.3M | $9.0M | $8.1M | $7.3M | $10.0M | $14.0M | $9.8M | $8.0M | $5.6M | $6.0M |
| Long-term debt | $14.9M | $16.2M | $18.4M | $22.4M | $22.1M | $21.2M | $11.6M | $7.9M | $7.7M | $8.8M | $9.9M | $9.8M |
| Lease obligations | $4.6M | $4.9M | $5.0M | $5.1M | $5.2M | $5.3M | $5.4M | $5.3M | $0 | $54,000 | $125,000 | $198,000 |
| Other long-term liabilities | $3.3M | $3.6M | $3.8M | $4.0M | $4.2M | $4.4M | $4.5M | $4.6M | $0 | $0 | $142.8M | $98.6M |
| Total liabilities | $34.8M | $32.9M | $33.5M | $35.4M | $34.5M | $32.8M | $26.1M | $26.6M | $17.6M | $16.8M | $158.3M | $114.3M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | — | $1,000 |
| Retained earnings (deficit) | −$255.5M | −$227.9M | −$201.6M | −$185.5M | −$171.3M | −$153.6M | −$138.4M | −$123.2M | −$106.4M | −$90.4M | −$77.0M | −$65.7M |
| Accumulated other comprehensive income | $17,000 | $13,000 | $22,000 | $14,000 | $31,000 | $14,000 | −$101,000 | −$95,000 | −$89,000 | −$84,000 | −$79,000 | −$86,000 |
| Total shareholders' equity | $219.2M | $243.4M | $151.1M | $111.6M | $123.4M | $139.1M | $151.5M | $165.1M | $179.8M | $193.1M | −$71.7M | −$61.1M |
| Key figures | ||||||||||||
| Total debt | $7.0M | $5.7M | $24.0M | $27.5M | $27.3M | $26.4M | $16.9M | $16.8M | $10.1M | $10.0M | $10.0M | $10.0M |
| Net cash (debt) | $236.7M | $258.1M | $152.5M | $110.3M | $120.3M | $134.3M | $151.3M | $164.9M | $183.1M | $195.9M | $72.6M | $41.3M |
| Working capital | $230.7M | $256.0M | $166.4M | $130.4M | $141.7M | $156.3M | $159.3M | $169.5M | $185.6M | $200.3M | $79.8M | $46.1M |
| Tangible book value | $219.2M | $243.4M | $151.1M | $111.6M | $123.4M | $139.1M | $151.5M | $165.1M | $179.8M | $193.1M | −$71.7M | −$61.1M |
| Book value per share | $5.12 | $7.40 | $4.73 | $4.12 | $4.56 | $5.14 | $5.61 | $6.12 | $6.67 | $7.18 | −$2.67 | −$2.27 |
| Shares outstanding | 42.8M | 32.9M | 31.9M | 27.1M | 27.1M | 27.0M | 27.0M | 27.0M | 27.0M | 26.9M | 26.9M | 26.9M |
| Current ratio | 14.85 | 20.52 | 15.69 | 15.42 | 18.43 | 22.53 | 16.92 | 13.09 | 19.85 | 26.02 | 15.22 | 8.70 |
| Quick ratio | 14.64 | 20.11 | 15.58 | 15.24 | 18.16 | 22.15 | 16.81 | 12.96 | 19.62 | 25.72 | 14.72 | 8.58 |
| Debt / equity | 0.03 | 0.02 | 0.16 | 0.25 | 0.22 | 0.19 | 0.11 | 0.10 | 0.06 | 0.05 | — | — |
| Equity / assets | 86.3% | 88.1% | 81.8% | 75.9% | 78.2% | 80.9% | 85.3% | 86.1% | 91.1% | 92.0% | −82.7% | −114.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 16, 2026); data from EODHD.
ANRO financial position
At the end of fiscal 2025 (September 30, 2025), Alto Neuroscience had total assets of $184.7 million (up 4.0% from a year earlier), total liabilities of $33.5 million and shareholders' equity of $151.1 million. It held $176.5 million in cash and short-term investments against $4.4 million of debt, a net cash position of $172.1 million. Its current ratio was 15.69. In the latest quarter (ended June 30, 2026) total assets were $254.1 million and equity $219.2 million.
Related: ANRO income statement, ANRO cash flow statement, ANRO key metrics. See the ANRO stock overview for the latest quote and news.
ANRO balance sheet FAQ
What are Alto Neuroscience's total assets?
Alto Neuroscience reported total assets of $184.7 million at the end of fiscal 2025 (September 30, 2025), compared with $177.5 million a year earlier.
How much debt does Alto Neuroscience have?
Alto Neuroscience had $4.4 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.03.
How much cash does Alto Neuroscience have?
Alto Neuroscience held $176.5 million in cash and short-term investments at the end of fiscal 2025; with $4.4 million of debt that is net cash of $172.1 million.
What is Alto Neuroscience's book value?
Alto Neuroscience's shareholders' equity (book value) was $151.1 million at the end of fiscal 2025, or $5.24 per share.
What is Alto Neuroscience's current ratio?
Alto Neuroscience had current assets of $177.7 million and current liabilities of $11.3 million, a current ratio of 15.69 (it can cover its short-term obligations).