BayFirst Financial Corp. (BAFN) Balance Sheet
BAFN balance sheet, 2025
December 31, 2025 · U.S. dollars$1.30B assets = $1.21B liabilities + $87.6M equity
Both columns are drawn to the same scale: what BAFN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BAFN financial health
Descriptive bands, not a rating. Fiscal 2025.
BAFN balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $151.9M2016 | $1.30B2025 | +26.9%/yr | |
| Total liabilities | $135.5M2016 | $1.21B2025 | +27.6%/yr | |
| Shareholders’ equity | $16.4M2016 | $87.6M2025 | +20.4%/yr | |
| Cash & short-term investments | −$4.5M2018 | $207.0M2025 | — | |
| Total debt | $14.2M2018 | $20.8M2025 | +5.6%/yr | |
| Net cash (debt) | −$18.7M2018 | $186.2M2025 | +$204.9M | |
| Working capital | −$3.5M2018 | −$969.7M2025 | −$966.2M | |
| Debt / equity | 0.382018 | 0.242025 | −0.14 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BAFN assets
BAFN liabilities and equity
BAFN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BAFN balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $207.0M | $88.9M | $58.4M | $113.3M | $143.0M | $57.8M | $113.0M | −$4.5M | — | — |
| Cash & equivalents | $207.0M | $80.1M | $63.0M | $70.9M | $112.1M | $57.8M | $113.0M | −$4.5M | — | — |
| Short-term investments | $29.4M | $8.9M | −$4.6M | $42.3M | $30.9M | $0 | — | — | — | — |
| Receivables | $8.4M | $9.2M | $7.1M | $4.5M | $3.6M | $7.3M | $2.1M | $1.7M | $0 | $0 |
| Inventory | $0 | $0 | −$3.0M | $0 | −$115.6M | −$65.1M | −$115.1M | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $115.6M | $65.1M | $115.1M | $37.0M | — | — |
| Total current assets | $215.4M | $98.1M | $58.4M | $112.8M | $146.6M | $65.1M | $115.1M | $34.3M | — | — |
| Property, plant & equipment (net) | $45.7M | $49.1M | $41.3M | $38.6M | $34.2M | $21.9M | $19.3M | $10.6M | $0 | $0 |
| Goodwill & intangible assets | $12.6M | $16.5M | $15.0M | $10.9M | $6.6M | $8.2M | $11.3M | $8.2M | $0 | $0 |
| Long-term investments | $31.9M | $38.8M | $42.1M | $47.4M | $30.9M | $41,286 | $43,422 | $0 | $0 | $0 |
| Other non-current assets | $994.7M | $1.09B | $961.1M | $729.2M | $698.8M | $1.45B | $385.5M | $311.9M | $260.6M | $151.9M |
| Total assets | $1.30B | $1.29B | $1.12B | $938.9M | $917.1M | $1.54B | $531.2M | $365.0M | $260.6M | $151.9M |
| Liabilities | ||||||||||
| Accounts payable | $1.1M | $1.0M | $882,000 | $704,000 | $326,000 | $2.0M | $220,172 | $147,426 | — | — |
| Short-term debt | — | $2.5M | $10.5M | $6.4M | $44.6M | $1.2M | $669,108 | — | — | — |
| Deferred revenue | — | — | −$882,000 | $980,000 | −$44.3M | $753,385 | −$448,936 | — | — | — |
| Total current liabilities | $1.19B | $1.14B | $9.9M | $6.4M | $326,000 | $2.0M | $220,172 | $37.8M | — | — |
| Long-term debt | $7.6M | $7.9M | $18.3M | $8.8M | $9.3M | $9.7M | $21.5M | $0 | $0 | $0 |
| Lease obligations | $13.3M | $14.5M | $2.6M | $3.5M | $4.7M | $3.9M | $2.9M | — | — | — |
| Other long-term liabilities | $20.1M | $25.2M | $988.9M | $831.8M | $4.7M | $3.9M | $2.9M | $293.7M | — | — |
| Total liabilities | $1.21B | $1.18B | $1.02B | $847.0M | $820.8M | $1.47B | $479.9M | $327.2M | $228.4M | $135.5M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $54.4M | $54.8M | $54.5M | $53.0M | $51.5M | $43.0M | $41.4M | $35.7M | — | — |
| Retained earnings (deficit) | $19.8M | $44.1M | $34.4M | $33.5M | $35.9M | $13.4M | $2.5M | −$708,818 | — | — |
| Accumulated other comprehensive income | −$2.0M | −$3.0M | −$3.9M | −$3.7M | −$420,000 | −$40,958 | −$156,116 | −$232,685 | — | — |
| Total shareholders' equity | $87.6M | $110.9M | $100.7M | $91.9M | $96.3M | $71.1M | $51.3M | $37.8M | $32.1M | $16.4M |
| Key figures | ||||||||||
| Total debt | $20.8M | $22.4M | $21.0M | $37.4M | $14.0M | $13.6M | $24.5M | $14.2M | — | — |
| Net cash (debt) | $186.2M | $66.5M | $37.4M | $75.9M | $129.0M | $44.1M | $88.5M | −$18.7M | — | — |
| Working capital | −$969.7M | −$1.05B | $48.5M | $106.5M | $146.2M | $63.1M | $114.9M | −$3.5M | — | — |
| Tangible book value | $75.0M | $94.4M | $85.7M | $81.0M | $89.7M | $62.9M | $40.1M | $29.6M | $32.1M | $16.4M |
| Current ratio | 0.18 | 0.09 | 5.92 | 17.68 | 449.59 | 32.55 | 522.70 | 0.91 | — | — |
| Quick ratio | 0.18 | 0.09 | 6.64 | 18.45 | 449.59 | 32.55 | 522.70 | −0.07 | — | — |
| Debt / equity | 0.24 | 0.20 | 0.21 | 0.41 | 0.15 | 0.19 | 0.48 | 0.38 | — | — |
| Equity / assets | 6.7% | 8.6% | 9.0% | 9.8% | 10.5% | 4.6% | 9.7% | 10.4% | 12.3% | 10.8% |
| 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 | $212.9M | $6.8M | $207.0M | $123.7M | $82.4M | $71.6M | $88.9M | $104.6M | $101.7M | $103.0M | $102.6M | $156.9M |
| Cash & equivalents | $139.2M | $6.8M | $207.0M | $119.8M | $78.6M | $65.2M | $80.1M | $66.6M | $63.0M | $60.5M | $63.0M | $117.2M |
| Short-term investments | $73.8M | $28.5M | $29.4M | $3.9M | $3.9M | $6.4M | $8.9M | $38.0M | $38.7M | $42.5M | $39.6M | $39.7M |
| Receivables | $5.1M | $7.7M | $8.4M | $8.9M | $9.5M | $9.2M | $9.2M | $8.5M | $8.0M | $7.6M | $7.1M | $6.9M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$68.8M | −$65.1M | −$3.0M | −$124.1M |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $68.8M | $65.1M | $3.0M | $124.1M |
| Total current assets | $10.8M | $14.5M | $215.4M | $132.6M | $91.9M | $80.7M | $98.1M | $113.2M | $109.7M | $110.6M | $109.7M | $163.8M |
| Property, plant & equipment (net) | $30.2M | $44.9M | $45.7M | $46.5M | $47.6M | $48.3M | $49.1M | $40.8M | $41.4M | $41.8M | $41.3M | $40.6M |
| Goodwill & intangible assets | $9.9M | $11.3M | $12.6M | $15.7M | $16.1M | $16.5M | $16.5M | $16.0M | $15.8M | $15.7M | $15.0M | $14.2M |
| Long-term investments | $33.4M | $31.0M | $31.9M | $32.3M | $39.3M | $38.8M | $38.8M | $40.5M | $41.2M | $45.0M | $42.1M | $42.2M |
| Other non-current assets | $1.05B | $1.09B | $994.7M | $1.12B | $1.15B | $1.11B | $1.09B | $1.03B | $1.01B | $931.0M | $909.7M | $873.2M |
| Total assets | $1.13B | $1.20B | $1.30B | $1.35B | $1.34B | $1.29B | $1.29B | $1.25B | $1.22B | $1.14B | $1.12B | $1.13B |
| Liabilities | ||||||||||||
| Accounts payable | $597,000 | $958,000 | $1.1M | $1.1M | $1.1M | $1.1M | $1.0M | $1.1M | $1.2M | $1.6M | $882,000 | $632,000 |
| Short-term debt | — | — | — | $50.0M | $41.4M | $22.4M | $2.5M | $10.6M | $55.9M | $15.5M | $10.5M | $1.6M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$1.2M | −$1.6M | −$882,000 | −$941,000 |
| Total current liabilities | $989.5M | $2.0M | $1.19B | $1.17B | $1.16B | $1.13B | $1.14B | $1.11B | $1.04B | $1.01B | $986.0M | $1.02B |
| Long-term debt | $7.2M | $7.6M | $7.6M | $57.6M | $47.7M | $27.8M | $7.9M | $18.0M | $63.1M | $23.2M | $18.3M | $8.4M |
| Lease obligations | $12.7M | $13.0M | $13.3M | $13.6M | $13.8M | $14.1M | $14.5M | $2.3M | $2.5M | $2.7M | $2.6M | $2.8M |
| Other long-term liabilities | $21.1M | $1.11B | $20.1M | $26.2M | $23.0M | $24.8M | $25.2M | $11.5M | $10.2M | $11.4M | $12.7M | $12.9M |
| Total liabilities | $1.02B | $1.11B | $1.21B | $1.26B | $1.24B | $1.18B | $1.18B | $1.14B | $1.12B | $1.04B | $1.02B | $1.04B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $54.4M | $54.4M | $54.4M | $54.8M | $54.7M | $54.7M | $54.8M | $54.8M | $54.8M | $54.8M | $54.5M | $54.5M |
| Retained earnings (deficit) | −$26.4M | $14.1M | $19.8M | $21.8M | $41.1M | $43.1M | $44.1M | $35.1M | $34.7M | $34.5M | $34.4M | $33.4M |
| Accumulated other comprehensive income | −$2.1M | −$2.1M | −$2.0M | −$2.1M | −$2.4M | −$2.4M | −$3.0M | −$2.3M | −$3.1M | −$3.2M | −$3.0M | −$3.6M |
| Total shareholders' equity | $115.9M | $81.9M | $87.6M | $89.7M | $108.2M | $110.1M | $110.9M | $102.3M | $101.0M | $100.6M | $100.7M | $94.2M |
| Key figures | ||||||||||||
| Total debt | $18.7M | $20.6M | $20.8M | $71.1M | $61.5M | $41.9M | $22.4M | $20.3M | $65.6M | $25.9M | $21.0M | $11.3M |
| Net cash (debt) | $194.3M | −$13.7M | $186.2M | $52.6M | $21.0M | $29.7M | $66.5M | $84.4M | $36.1M | $77.1M | $81.6M | $145.6M |
| Working capital | −$978.7M | $12.5M | −$969.7M | −$1.04B | −$1.07B | −$1.05B | −$1.05B | −$1.00B | −$933.8M | −$898.3M | −$876.3M | −$854.7M |
| Tangible book value | $106.0M | $70.5M | $75.0M | $74.1M | $92.1M | $93.6M | $94.4M | $86.3M | $85.2M | $84.9M | $85.7M | $79.9M |
| Current ratio | 0.01 | 7.10 | 0.18 | 0.11 | 0.08 | 0.07 | 0.09 | 0.10 | 0.11 | 0.11 | 0.11 | 0.16 |
| Quick ratio | 0.22 | 7.10 | 0.18 | 0.11 | 0.08 | 0.07 | 0.09 | 0.10 | 0.11 | 0.11 | 0.11 | 0.16 |
| Debt / equity | 0.16 | 0.25 | 0.24 | 0.79 | 0.57 | 0.38 | 0.20 | 0.20 | 0.65 | 0.26 | 0.21 | 0.12 |
| Equity / assets | 10.2% | 6.8% | 6.7% | 6.7% | 8.1% | 8.5% | 8.6% | 8.2% | 8.3% | 8.8% | 9.0% | 8.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 27, 2026); data from EODHD.
BAFN financial position
At the end of fiscal 2025 (December 31, 2025), BayFirst Financial had total assets of $1.3 billion (up 0.9% from a year earlier), total liabilities of $1.2 billion and shareholders' equity of $87.6 million. It held $207.0 million in cash and short-term investments against $20.8 million of debt, a net cash position of $186.2 million. Its current ratio was 0.18. In the latest quarter (ended June 30, 2026) total assets were $1.1 billion and equity $115.9 million.
Related: BAFN income statement, BAFN cash flow statement, BAFN key metrics. See the BAFN stock overview for the latest quote and news.
BAFN balance sheet FAQ
What are BayFirst Financial's total assets?
BayFirst Financial reported total assets of $1.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.3 billion a year earlier.
How much debt does BayFirst Financial have?
BayFirst Financial had $20.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.24.
How much cash does BayFirst Financial have?
BayFirst Financial held $207.0 million in cash and short-term investments at the end of fiscal 2025; with $20.8 million of debt that is net cash of $186.2 million.
What is BayFirst Financial's book value?
BayFirst Financial's shareholders' equity (book value) was $87.6 million at the end of fiscal 2025.
What is BayFirst Financial's current ratio?
BayFirst Financial had current assets of $215.4 million and current liabilities of $1.2 billion, a current ratio of 0.18 (current liabilities exceed current assets).
How much goodwill does BayFirst Financial have?
BayFirst Financial carried $12.6 million of goodwill and intangible assets, 1.0% of total assets, at the end of fiscal 2025.