Apimeds Pharmaceuticals US, Inc. (APUS) Balance Sheet
APUS balance sheet, 2025
December 31, 2025 · U.S. dollars$164.2M assets = $10.8M liabilities + $153.3M equity
Both columns are drawn to the same scale: what APUS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
APUS financial health
Descriptive bands, not a rating. Fiscal 2025.
APUS balance sheet trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $172,1692021 | $164.2M2025 | +455.7%/yr | |
| Total liabilities | $410,6522021 | $10.8M2025 | +126.6%/yr | |
| Shareholders’ equity | −$238,4832021 | $153.3M2025 | — | |
| Cash & short-term investments | $171,4382021 | $3.6M2025 | +114.6%/yr | |
| Total debt | $400,0002021 | $7.8M2025 | +109.9%/yr | |
| Net cash (debt) | −$228,5622021 | −$4.1M2025 | −$3.9M | |
| Working capital | $161,5172021 | $3.3M2025 | +$3.1M | |
| Current ratio | 16.162021 | 1.312025 | −14.86 | |
| Debt / equity | 8.372023 | 0.052025 | −8.32 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
APUS assets
APUS liabilities and equity
APUS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
APUS balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $3.6M | $3,455 | $410,481 | $6,171 | $171,438 |
| Cash & equivalents | $1.6M | $3,455 | $410,481 | $6,171 | $171,438 |
| Short-term investments | $2.0M | — | — | — | — |
| Receivables | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $10.3M | $9,602 | $11,595 | $0 | $731 |
| Total current assets | $14.0M | $13,057 | $422,076 | $6,171 | $172,169 |
| Property, plant & equipment (net) | $239,021 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $149.9M | $0 | $0 | $0 | $0 |
| Other non-current assets | $75,485 | $0 | $0 | $0 | $0 |
| Total assets | $164.2M | $13,057 | $422,076 | $6,171 | $172,169 |
| Liabilities | |||||
| Accounts payable | $918,649 | $591,191 | — | $36,877 | $10,652 |
| Short-term debt | $7.6M | $250,000 | — | $260,000 | — |
| Total current liabilities | $10.7M | $1.0M | $123,314 | $319,777 | $10,652 |
| Long-term debt | $0 | $346,844 | $266,891 | $400,000 | $400,000 |
| Lease obligations | $169,032 | $0 | — | — | — |
| Other long-term liabilities | $129,454 | $0 | $0 | $0 | $0 |
| Total liabilities | $10.8M | $1.4M | $390,205 | $719,777 | $410,652 |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $125,760 | $79,039 | $205,500 | $100,000 | $100,000 |
| Retained earnings (deficit) | −$10.4M | −$4.4M | −$3.0M | −$2.2M | −$1.6M |
| Total shareholders' equity | $153.3M | −$1.4M | $31,871 | −$713,606 | −$238,483 |
| Key figures | |||||
| Total debt | $7.8M | $596,844 | $266,891 | $660,000 | $400,000 |
| Net cash (debt) | −$4.1M | −$593,389 | $143,590 | −$653,829 | −$228,562 |
| Working capital | $3.3M | −$1.0M | $298,762 | −$313,606 | $161,517 |
| Tangible book value | $153.3M | −$1.4M | $31,871 | −$713,606 | −$238,483 |
| Book value per share | $140.92 | — | — | — | — |
| Shares outstanding | 1.1M | — | — | — | — |
| Current ratio | 1.31 | 0.01 | 3.42 | 0.02 | 16.16 |
| Quick ratio | 0.34 | 0.00 | 3.33 | 0.02 | 16.09 |
| Debt / equity | 0.05 | — | 8.37 | — | — |
| Equity / assets | 93.4% | −10,401.5% | 7.6% | −11,563.9% | −138.5% |
| 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 | $278,371 | $2.5M | $3.6M | $7.0M | $8.7M | $250,342 | $3,455 | $26,571 | $63,326 | $147,381 | $410,481 | $751,054 |
| Cash & equivalents | $278,371 | $979,534 | $1.6M | $7.0M | $8.7M | $250,342 | $3,455 | $26,571 | $63,326 | $147,381 | $410,481 | $751,054 |
| Short-term investments | $0 | $1.5M | $2.0M | — | — | — | — | — | — | — | — | — |
| 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 | $10.4M | $10.7M | $10.3M | $2.1M | $1.6M | $9,562 | $9,602 | $10,336 | $10,336 | $10,337 | $11,595 | $171,673 |
| Total current assets | $10.7M | $13.2M | $14.0M | $9.1M | $10.3M | $259,904 | $13,057 | $36,907 | $73,662 | $157,718 | $422,076 | $922,727 |
| Property, plant & equipment (net) | $208,091 | $228,371 | $239,021 | $34,188 | $13,137 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $116.7M | $127.8M | $149.9M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $22,410 | $75,485 | $129,740 | $183,995 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $127.6M | $141.2M | $164.2M | $9.3M | $10.5M | $259,904 | $13,057 | $36,907 | $73,662 | $157,718 | $422,076 | $922,727 |
| Liabilities | ||||||||||||
| Accounts payable | $2.1M | $918,649 | $918,649 | — | — | — | — | — | — | — | — | $1,599 |
| Short-term debt | $14.5M | $9.4M | — | $500,000 | $500,000 | $623,620 | $250,000 | $250,000 | $100,000 | — | — | $315,000 |
| Total current liabilities | $21.1M | $14.6M | $10.7M | $1.1M | $809,000 | $1.8M | $1.0M | $761,401 | $488,165 | $136,477 | $123,314 | $377,068 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $250,000 | $346,844 | $321,992 | $299,462 | $285,843 | $0 | $0 |
| Lease obligations | $161,396 | $171,154 | $169,032 | — | — | — | — | — | — | — | — | — |
| Other long-term liabilities | $101,873 | $118,815 | $129,454 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $266,891 | $400,000 |
| Total liabilities | $21.2M | $14.7M | $10.8M | $1.1M | $809,000 | $2.0M | $1.4M | $1.1M | $787,627 | $422,320 | $390,205 | $777,068 |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1,509 | $125,760 | — | $125,760 | $125,760 | $79,039 | $79,039 | $205,500 | $205,500 | $205,500 | $205,500 | $150,000 |
| Retained earnings (deficit) | −$65.6M | −$45.5M | −$10.4M | −$9.2M | −$7.5M | −$4.8M | −$4.4M | −$4.1M | −$3.7M | −$3.3M | −$3.0M | −$2.4M |
| Total shareholders' equity | $106.4M | $126.5M | $153.3M | $8.2M | $9.7M | −$1.8M | −$1.4M | −$1.0M | −$713,965 | −$264,602 | $31,871 | $145,659 |
| Key figures | ||||||||||||
| Total debt | $14.6M | $9.5M | — | $500,000 | $500,000 | $873,620 | $596,844 | $571,992 | $399,462 | $285,843 | $266,891 | $715,000 |
| Net cash (debt) | −$14.3M | −$7.1M | — | $6.5M | $8.2M | −$623,278 | −$593,389 | −$545,421 | −$336,136 | −$138,462 | $143,590 | $36,054 |
| Working capital | −$10.4M | −$1.4M | $3.3M | $8.0M | $9.5M | −$1.5M | −$1.0M | −$724,494 | −$414,503 | $21,241 | $298,762 | $545,659 |
| Tangible book value | $106.4M | $126.5M | $153.3M | $8.2M | $9.7M | −$1.8M | −$1.4M | −$1.0M | −$713,965 | −$264,602 | $31,871 | $145,659 |
| Book value per share | $65.19 | $81.55 | $121.94 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 1.6M | 1.6M | 1.3M | — | — | — | — | — | — | — | — | — |
| Current ratio | 0.51 | 0.90 | 1.31 | 8.34 | 12.79 | 0.15 | 0.01 | 0.05 | 0.15 | 1.16 | 3.42 | 2.45 |
| Quick ratio | 0.01 | 0.17 | 0.34 | 6.41 | 10.80 | 0.14 | 0.00 | 0.03 | 0.13 | 1.08 | 3.33 | 1.99 |
| Debt / equity | 0.14 | 0.08 | — | 0.06 | 0.05 | — | — | — | — | — | 8.37 | 4.91 |
| Equity / assets | 83.4% | 89.6% | 93.4% | 88.2% | 92.3% | −677.4% | −10,401.5% | −2,835.5% | −969.2% | −167.8% | 7.6% | 15.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed May 4, 2026); data from EODHD.
APUS financial position
At the end of fiscal 2025 (December 31, 2025), Apimeds Pharmaceuticals US had total assets of $164.2 million (up 1,257,338.4% from a year earlier), total liabilities of $10.8 million and shareholders' equity of $153.3 million. It held $3.6 million in cash and short-term investments against $7.8 million of debt, net debt of $4.1 million. Its current ratio was 1.31. In the latest quarter (ended June 30, 2026) total assets were $127.6 million and equity $106.4 million.
Related: APUS income statement, APUS cash flow statement, APUS key metrics. See the APUS stock overview for the latest quote and news.
APUS balance sheet FAQ
What are Apimeds Pharmaceuticals US's total assets?
Apimeds Pharmaceuticals US reported total assets of $164.2 million at the end of fiscal 2025 (December 31, 2025), compared with $0.0 million a year earlier.
How much debt does Apimeds Pharmaceuticals US have?
Apimeds Pharmaceuticals US had $7.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.05.
How much cash does Apimeds Pharmaceuticals US have?
Apimeds Pharmaceuticals US held $3.6 million in cash and short-term investments at the end of fiscal 2025; with $7.8 million of debt that is net debt of $4.1 million.
What is Apimeds Pharmaceuticals US's book value?
Apimeds Pharmaceuticals US's shareholders' equity (book value) was $153.3 million at the end of fiscal 2025, or $140.92 per share.
What is Apimeds Pharmaceuticals US's current ratio?
Apimeds Pharmaceuticals US had current assets of $14.0 million and current liabilities of $10.7 million, a current ratio of 1.31 (it can cover its short-term obligations).