Axalta Coating Systems Ltd. (AXTA) Balance Sheet
AXTA balance sheet, 2025
December 31, 2025 · U.S. dollars$7.60B assets = $5.21B liabilities + $2.39B equity
Both columns are drawn to the same scale: what AXTA owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AXTA financial health
Descriptive bands, not a rating. Fiscal 2025.
AXTA balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $5.85B2016 | $7.60B2025 | +2.9%/yr | |
| Total liabilities | $4.60B2016 | $5.21B2025 | +1.4%/yr | |
| Shareholders’ equity | $1.14B2016 | $2.35B2025 | +8.4%/yr | |
| Cash & short-term investments | $535.4M2016 | $660.0M2025 | +2.4%/yr | |
| Total debt | $3.26B2016 | $3.39B2025 | +0.4%/yr | |
| Net cash (debt) | −$2.73B2016 | −$2.73B2025 | −$3.5M | |
| Working capital | $1.00B2016 | $1.45B2025 | +$445.7M | |
| Book value per share | $4.652016 | $10.812025 | +9.8%/yr | |
| Current ratio | 2.092016 | 2.062025 | −0.03 | |
| Debt / equity | 2.872016 | 1.452025 | −1.43 | |
| Shares outstanding | 244.4M2016 | 217.0M2025 | −1.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AXTA assets
AXTA liabilities and equity
AXTA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AXTA balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $660.0M | $593.0M | $703.1M | $645.2M | $840.6M | $1.36B | $1.02B | $693.6M | $769.8M | $535.4M |
| Cash & equivalents | $660.0M | $593.0M | $703.1M | $645.2M | $840.6M | $1.36B | $1.02B | $693.6M | $769.8M | $535.4M |
| Short-term investments | — | — | $400,000 | $2.3M | — | — | — | $4.5M | $3.1M | $100,000 |
| Receivables | $1.27B | $1.25B | $1.30B | $1.07B | $937.5M | $907.0M | $867.6M | $860.8M | $870.2M | $801.9M |
| Inventory | $756.0M | $734.0M | $741.1M | $829.6M | $669.7M | $559.9M | $591.6M | $613.0M | $608.6M | $529.7M |
| Other current assets | $130.0M | $148.0M | $78.0M | $150.5M | $127.8M | $95.0M | $93.7M | $142.2M | $67.0M | $53.0M |
| Total current assets | $2.81B | $2.72B | $2.82B | $2.69B | $2.58B | $2.93B | $2.57B | $2.31B | $2.32B | $1.92B |
| Property, plant & equipment (net) | $1.41B | $1.28B | $1.31B | $1.19B | $1.29B | $1.30B | $1.32B | $1.30B | $1.39B | $1.32B |
| Goodwill & intangible assets | $2.94B | $2.79B | $2.72B | $2.61B | $2.87B | $2.44B | $2.43B | $2.58B | $2.70B | $2.09B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $1.7M | $1.6M | $1.7M | $5.2M | $4.4M |
| Other non-current assets | $431.0M | $457.0M | $420.6M | $566.0M | $480.3M | $490.1M | $491.6M | $487.4M | $423.4M | $523.4M |
| Total assets | $7.60B | $7.25B | $7.27B | $7.06B | $7.22B | $7.16B | $6.82B | $6.68B | $6.83B | $5.85B |
| Liabilities | ||||||||||
| Accounts payable | $577.0M | $603.0M | $665.3M | $733.5M | $610.9M | $513.4M | $442.0M | $522.8M | $554.9M | $474.2M |
| Short-term debt | $51.0M | $47.0M | $56.9M | $40.1M | $106.9M | $83.0M | $73.2M | $58.4M | $37.7M | $27.9M |
| Deferred revenue | — | — | $326.6M | $162.1M | — | — | — | $36.6M | $486.3M | $416.3M |
| Total current liabilities | $1.37B | $1.35B | $1.43B | $1.39B | $1.33B | $1.18B | $1.07B | $1.04B | $1.08B | $919.7M |
| Long-term debt | $3.18B | $3.40B | $3.48B | $3.67B | $3.75B | $3.84B | $3.79B | $3.82B | $3.88B | $3.24B |
| Lease obligations | $31.0M | $27.0M | $31.2M | $28.4M | $27.2M | $28.8M | $29.3M | — | — | — |
| Other long-term liabilities | $658.0M | $538.0M | $593.3M | $492.6M | $593.7M | $658.0M | $545.3M | $502.8M | $464.3M | $441.5M |
| Total liabilities | $5.21B | $5.29B | $5.50B | $5.56B | $5.68B | $5.68B | $5.41B | $5.37B | $5.42B | $4.60B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $255.0M | $255.0M | $253.7M | $252.4M | $251.8M | $250.9M | $249.9M | $245.3M | $1.60B | $1.53B |
| Retained earnings (deficit) | $2.06B | $1.68B | $1.29B | $1.02B | $827.2M | $563.3M | $443.2M | $198.6M | −$21.4M | −$47.1M |
| Treasury stock | — | — | — | −$887.3M | −$687.2M | −$443.5M | −$417.5M | −$312.2M | −$58.4M | $0 |
| Accumulated other comprehensive income | −$383.0M | −$582.0M | −$444.2M | −$466.9M | −$414.4M | −$424.8M | −$395.5M | −$336.1M | −$241.0M | −$350.4M |
| Minority interest | $47.0M | $44.0M | $46.0M | $46.0M | $45.8M | $46.8M | $55.4M | $105.4M | $131.7M | $121.5M |
| Total shareholders' equity | $2.35B | $1.91B | $1.73B | $1.50B | $1.49B | $1.43B | $1.35B | $1.21B | $1.28B | $1.14B |
| Key figures | ||||||||||
| Total debt | $3.39B | $3.52B | $3.61B | $3.71B | $3.86B | $4.00B | $3.93B | $3.86B | $3.92B | $3.26B |
| Net cash (debt) | −$2.73B | −$2.93B | −$2.91B | −$3.07B | −$3.02B | −$2.63B | −$2.91B | −$3.17B | −$3.15B | −$2.73B |
| Working capital | $1.45B | $1.37B | $1.39B | $1.30B | $1.24B | $1.75B | $1.50B | $1.27B | $1.23B | $1.00B |
| Tangible book value | −$596.0M | −$877.0M | −$993.3M | −$1.11B | −$1.38B | −$1.01B | −$1.08B | −$1.37B | −$1.42B | −$955.2M |
| Book value per share | $10.81 | $8.68 | $7.78 | $6.75 | $6.44 | $6.07 | $5.74 | $4.96 | $5.19 | $4.65 |
| Shares outstanding | 217.0M | 220.4M | 221.9M | 222.3M | 231.9M | 236.0M | 235.8M | 242.9M | 246.1M | 244.4M |
| Current ratio | 2.06 | 2.01 | 1.98 | 1.93 | 1.93 | 2.48 | 2.40 | 2.22 | 2.14 | 2.09 |
| Quick ratio | 1.41 | 1.36 | 1.40 | 1.23 | 1.33 | 1.92 | 1.76 | 1.49 | 1.52 | 1.45 |
| Debt / equity | 1.45 | 1.84 | 2.09 | 2.48 | 2.58 | 2.79 | 2.90 | 3.21 | 3.07 | 2.87 |
| Equity / assets | 30.9% | 26.4% | 23.8% | 21.2% | 20.7% | 20.0% | 19.9% | 18.1% | 18.7% | 19.4% |
| 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 | $633.0M | $608.0M | $657.0M | $610.0M | $628.0M | $575.0M | $593.0M | $567.0M | $843.0M | $627.0M | $699.8M | $605.8M |
| Cash & equivalents | $633.0M | $608.0M | $657.0M | $610.0M | $628.0M | $575.0M | $593.0M | $567.0M | $843.0M | $627.0M | $699.8M | $605.8M |
| Short-term investments | — | — | — | — | — | — | — | — | — | — | $400,000 | $800,000 |
| Receivables | $1.34B | $1.26B | $1.27B | $1.41B | $1.39B | $1.28B | $1.25B | $1.30B | $1.09B | $1.28B | $1.30B | $1.34B |
| Inventory | $806.0M | $770.0M | $756.0M | $829.0M | $831.0M | $787.0M | $734.0M | $818.0M | $745.0M | $751.0M | $741.1M | $750.0M |
| Other current assets | $206.0M | $188.0M | $133.0M | $145.0M | $135.0M | $177.0M | $148.0M | $155.0M | $335.0M | $104.0M | $81.3M | $90.0M |
| Total current assets | $2.99B | $2.83B | $2.81B | $2.99B | $2.99B | $2.82B | $2.72B | $2.84B | $3.01B | $2.76B | $2.82B | $2.79B |
| Property, plant & equipment (net) | $1.30B | $1.29B | $1.41B | $1.28B | $1.25B | $1.20B | $1.28B | $1.19B | $1.16B | $1.17B | $1.31B | $1.17B |
| Goodwill & intangible assets | $2.85B | $2.89B | $2.94B | $2.91B | $2.94B | $2.82B | $2.79B | $2.92B | $2.61B | $2.64B | $2.72B | $2.52B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $556.0M | $552.0M | $431.0M | $580.0M | $597.0M | $568.0M | $457.0M | $549.0M | $524.0M | $514.0M | $420.6M | $520.3M |
| Total assets | $7.70B | $7.56B | $7.60B | $7.76B | $7.78B | $7.41B | $7.25B | $7.50B | $7.31B | $7.09B | $7.27B | $7.00B |
| Liabilities | ||||||||||||
| Accounts payable | $769.0M | $723.0M | $577.0M | $691.0M | $764.0M | $732.0M | $603.0M | $708.0M | $715.0M | $721.0M | $665.3M | $709.9M |
| Short-term debt | $519.0M | $20.0M | $51.0M | $20.0M | $20.0M | $20.0M | $47.0M | $20.0M | $20.0M | $20.0M | $90.9M | $32.0M |
| Deferred revenue | — | — | — | — | — | — | — | — | — | — | $28.4M | — |
| Total current liabilities | $1.95B | $1.35B | $1.37B | $1.36B | $1.41B | $1.33B | $1.35B | $1.42B | $1.33B | $1.33B | $1.43B | $1.36B |
| Long-term debt | $2.55B | $3.13B | $3.18B | $3.38B | $3.40B | $3.40B | $3.40B | $3.50B | $3.59B | $3.41B | $3.48B | $3.51B |
| Lease obligations | — | — | $31.0M | — | — | — | $27.0M | — | — | — | $31.2M | — |
| Other long-term liabilities | $631.0M | $616.0M | $658.0M | $693.0M | $669.0M | $561.0M | $538.0M | $622.0M | $565.0M | $575.0M | $593.3M | $478.5M |
| Total liabilities | $5.13B | $5.09B | $5.21B | $5.43B | $5.47B | $5.29B | $5.29B | $5.55B | $5.49B | $5.31B | $5.50B | $5.35B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $256.0M | $256.0M | $255.0M | $255.0M | $255.0M | $255.0M | $255.0M | $254.0M | $254.0M | $254.0M | $253.7M | $253.7M |
| Retained earnings (deficit) | $2.23B | $2.15B | $2.06B | $2.00B | $1.89B | $1.78B | $1.68B | $1.54B | $1.44B | $1.33B | $1.29B | $1.21B |
| Accumulated other comprehensive income | −$395.0M | −$399.0M | −$383.0M | −$384.0M | −$383.0M | −$520.0M | −$582.0M | −$442.0M | −$517.0M | −$488.0M | −$444.2M | −$486.6M |
| Minority interest | $47.0M | $46.0M | $47.0M | $46.0M | $46.0M | — | — | — | — | — | — | — |
| Total shareholders' equity | $2.52B | $2.42B | $2.35B | $2.28B | $2.27B | $2.08B | $1.91B | $1.91B | $1.77B | $1.73B | $1.73B | $1.60B |
| Key figures | ||||||||||||
| Total debt | $3.07B | $3.15B | $3.39B | $3.40B | $3.42B | $3.42B | $3.52B | $3.52B | $3.61B | $3.43B | $3.64B | $3.54B |
| Net cash (debt) | −$2.44B | −$2.54B | −$2.73B | −$2.79B | −$2.79B | −$2.84B | −$2.93B | −$2.96B | −$2.77B | −$2.80B | −$2.95B | −$2.94B |
| Working capital | $1.04B | $1.48B | $1.45B | $1.63B | $1.58B | $1.49B | $1.37B | $1.42B | $1.68B | $1.43B | $1.39B | $1.43B |
| Tangible book value | −$331.0M | −$465.0M | −$596.0M | −$631.0M | −$677.0M | −$747.0M | −$877.0M | −$1.02B | −$837.0M | −$910.0M | −$993.3M | −$916.5M |
| Book value per share | $11.75 | $11.28 | $10.94 | $10.56 | $10.38 | $9.46 | $8.72 | $8.62 | $8.03 | $7.82 | $7.82 | $7.23 |
| Shares outstanding | 214.7M | 214.6M | 214.5M | 215.9M | 218.3M | 219.4M | 219.3M | 220.9M | 220.9M | 221.3M | 220.9M | 221.9M |
| Current ratio | 1.53 | 2.10 | 2.06 | 2.20 | 2.12 | 2.12 | 2.01 | 2.00 | 2.26 | 2.07 | 1.98 | 2.05 |
| Quick ratio | 1.01 | 1.39 | 1.41 | 1.48 | 1.44 | 1.40 | 1.36 | 1.31 | 1.45 | 1.43 | 1.40 | 1.43 |
| Debt / equity | 1.22 | 1.30 | 1.45 | 1.49 | 1.51 | 1.65 | 1.84 | 1.85 | 2.03 | 1.98 | 2.11 | 2.21 |
| Equity / assets | 32.8% | 32.0% | 30.9% | 29.4% | 29.1% | 28.0% | 26.4% | 25.4% | 24.3% | 24.4% | 23.8% | 22.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 13, 2026); data from EODHD.
AXTA financial position
At the end of fiscal 2025 (December 31, 2025), Axalta Coating Systems had total assets of $7.6 billion (up 4.8% from a year earlier), total liabilities of $5.2 billion and shareholders' equity of $2.3 billion. It held $660.0 million in cash and short-term investments against $3.4 billion of debt, net debt of $2.7 billion. Its current ratio was 2.06. In the latest quarter (ended June 30, 2026) total assets were $7.7 billion and equity $2.5 billion.
Related: AXTA income statement, AXTA cash flow statement, AXTA key metrics. See the AXTA stock overview for the latest quote and news.
AXTA balance sheet FAQ
What are Axalta Coating Systems's total assets?
Axalta Coating Systems reported total assets of $7.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $7.2 billion a year earlier.
How much debt does Axalta Coating Systems have?
Axalta Coating Systems had $3.4 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.45.
How much cash does Axalta Coating Systems have?
Axalta Coating Systems held $660.0 million in cash and short-term investments at the end of fiscal 2025; with $3.4 billion of debt that is net debt of $2.7 billion.
What is Axalta Coating Systems's book value?
Axalta Coating Systems's shareholders' equity (book value) was $2.3 billion at the end of fiscal 2025, or $10.81 per share.
What is Axalta Coating Systems's current ratio?
Axalta Coating Systems had current assets of $2.8 billion and current liabilities of $1.4 billion, a current ratio of 2.06 (it can cover its short-term obligations).
How much goodwill does Axalta Coating Systems have?
Axalta Coating Systems carried $2.9 billion of goodwill and intangible assets, 38.7% of total assets, at the end of fiscal 2025.