Birchtech Corp. (BCHT) Balance Sheet
BCHT balance sheet, 2025
December 31, 2025 · U.S. dollars$9.2M assets = $11.0M liabilities + −$1.7M equity
Liabilities exceed assets: shareholders’ equity is negative (−$1.7M).
Both columns are drawn to the same scale: what BCHT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BCHT financial health
Descriptive bands, not a rating. Fiscal 2025.
BCHT balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $15.9M2016 | $9.2M2025 | −5.8%/yr | |
| Total liabilities | $19.5M2016 | $11.0M2025 | −6.2%/yr | |
| Shareholders’ equity | −$3.7M2016 | −$1.7M2025 | — | |
| Cash & short-term investments | $7.8M2016 | $2.2M2025 | −12.9%/yr | |
| Total debt | $14.5M2016 | $263,4902025 | −35.9%/yr | |
| Net cash (debt) | −$6.8M2016 | $2.0M2025 | +$8.7M | |
| Working capital | $5.5M2016 | −$5.7M2025 | −$11.3M | |
| Book value per share | −$0.362016 | −$0.092025 | — | |
| Current ratio | 1.842016 | 0.472025 | −1.38 | |
| Debt / equity | 186.072023 | 0.262024 | −185.82 | |
| Shares outstanding | 10.1M2016 | 19.3M2025 | +7.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BCHT assets
BCHT liabilities and equity
BCHT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BCHT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $2.2M | $3.5M | $20.9M | $1.5M | $1.4M | $591,019 | $1.5M | $584,877 | $2.4M | $7.8M |
| Cash & equivalents | $2.2M | $3.5M | $20.9M | $1.5M | $1.4M | $591,019 | $1.5M | $584,877 | $2.4M | $7.8M |
| Receivables | $2.1M | $1.8M | $3.1M | $2.8M | $1.0M | $1.1M | $1.2M | $1.6M | $2.9M | $3.6M |
| Inventory | $448,086 | $621,813 | $795,164 | $991,131 | $1.1M | $560,127 | $513,498 | $509,416 | $659,579 | $609,072 |
| Other current assets | $210,408 | $198,185 | $183,621 | $267,393 | $312,008 | $95,188 | $316,199 | $136,628 | $210,535 | $199,495 |
| Total current assets | $5.0M | $6.1M | $25.0M | $5.5M | $3.8M | $2.4M | $3.6M | $2.9M | $6.2M | $12.1M |
| Property, plant & equipment (net) | $2.5M | $2.7M | $1.6M | $1.9M | $2.2M | $2.7M | $3.2M | $2.4M | $2.7M | $2.6M |
| Goodwill & intangible assets | $1.3M | $1.5M | $1.7M | $1.9M | $2.1M | $2.3M | $2.5M | $2.7M | $3.1M | $695,148 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $487,865 | $6,615 | $5,175 | $10,175 | $10,175 | $12,255 | $0 | $34,467 | $0 | $500,000 |
| Total assets | $9.2M | $10.3M | $28.3M | $9.3M | $8.1M | $7.4M | $9.3M | $8.0M | $12.1M | $15.9M |
| Liabilities | ||||||||||
| Accounts payable | $3.6M | $1.7M | $1.6M | $2.9M | $2.3M | $1.6M | $1.7M | $1.9M | $1.8M | $4.4M |
| Short-term debt | $51,158 | $42,733 | $11,157 | $43,262 | $12.5M | $471,891 | $1.4M | $63,423 | $4.0M | $1.5M |
| Deferred revenue | $167,000 | — | $167,000 | $167,000 | $167,000 | — | — | — | — | — |
| Total current liabilities | $10.7M | $8.8M | $2.2M | $3.2M | $15.5M | $3.4M | $3.9M | $2.7M | $6.6M | $6.6M |
| Long-term debt | $0 | $0 | $11.2M | $9.9M | $0 | $14.5M | $0 | $0 | $0 | $0 |
| Lease obligations | $263,490 | $306,223 | $11,157 | $54,551 | $394,758 | $802,600 | — | — | — | — |
| Other long-term liabilities | $212,331 | $263,490 | $14.8M | $3.6M | $2.9M | $2.7M | $14.3M | $13.9M | $9.9M | $13.0M |
| Total liabilities | $11.0M | $9.1M | $28.3M | $16.8M | $18.4M | $20.6M | $18.1M | $16.7M | $16.5M | $19.5M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $19,456 | $96,178 | $94,360 | $93,088 | $89,116 | $78,096 | $76,748 | $76,246 | $76,246 | $73,510 |
| Retained earnings (deficit) | −$75.8M | −$72.8M | −$62.0M | −$68.7M | −$67.1M | −$63.5M | −$57.7M | −$51.5M | −$46.7M | −$43.8M |
| Total shareholders' equity | −$1.7M | $1.2M | $60,354 | −$7.4M | −$10.2M | −$13.2M | −$8.9M | −$8.6M | −$4.4M | −$3.7M |
| Key figures | ||||||||||
| Total debt | $263,490 | $306,223 | $11.2M | $9.9M | $12.5M | $15.4M | $14.2M | $14.0M | $13.9M | $14.5M |
| Net cash (debt) | $2.0M | $3.1M | $9.7M | −$8.4M | −$11.2M | −$14.8M | −$12.7M | −$13.4M | −$11.5M | −$6.8M |
| Working capital | −$5.7M | −$2.7M | $22.8M | $2.3M | −$11.7M | −$996,367 | −$301,670 | $131,518 | −$359,963 | $5.5M |
| Tangible book value | −$3.0M | −$307,602 | −$1.6M | −$9.3M | −$12.4M | −$15.5M | −$11.4M | −$11.4M | −$7.5M | −$4.4M |
| Book value per share | −$0.09 | $0.06 | $0.00 | −$0.41 | −$0.60 | −$0.85 | −$0.58 | −$0.57 | −$0.29 | −$0.36 |
| Shares outstanding | 19.3M | 19.1M | 19.5M | 18.0M | 17.2M | 15.6M | 15.3M | 15.2M | 15.0M | 10.1M |
| Current ratio | 0.47 | 0.69 | 11.45 | 1.72 | 0.24 | 0.70 | 0.92 | 1.05 | 0.95 | 1.84 |
| Quick ratio | 0.40 | 0.60 | 11.00 | 1.33 | 0.16 | 0.51 | 0.71 | 0.81 | 0.81 | 1.72 |
| Debt / equity | — | 0.26 | 186.07 | — | — | — | — | — | — | — |
| Equity / assets | −18.6% | 11.6% | 0.2% | −79.4% | −125.9% | −179.0% | −95.7% | −107.2% | −36.7% | −23.0% |
| 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 | $11.8M | $14.7M | $2.2M | $1.8M | $1.5M | $3.2M | $3.5M | $4.4M | $8.4M | $11.2M | $20.9M | $2.5M |
| Cash & equivalents | $11.8M | $14.7M | $2.2M | $1.8M | $1.5M | $3.2M | $3.5M | $4.4M | $8.4M | $11.2M | $20.9M | $2.5M |
| Receivables | $2.6M | $2.2M | $2.1M | $3.6M | $2.2M | $1.3M | $1.8M | $2.1M | $1.8M | $1.7M | $3.1M | $2.5M |
| Inventory | $455,820 | $594,148 | $448,086 | $498,168 | $830,899 | $592,170 | $621,813 | $886,412 | $964,982 | $697,721 | $795,164 | $801,602 |
| Other current assets | $827,982 | $166,756 | $210,408 | $130,229 | $126,285 | $140,112 | $198,185 | $235,562 | $139,134 | $115,768 | $183,621 | $226,410 |
| Total current assets | $15.8M | $17.7M | $5.0M | $6.0M | $4.6M | $5.2M | $6.1M | $7.6M | $11.3M | $13.7M | $25.0M | $6.1M |
| Property, plant & equipment (net) | $2.5M | $2.4M | $2.5M | $2.6M | $2.6M | $2.6M | $2.7M | $2.5M | $1.8M | $1.8M | $1.6M | $1.8M |
| Goodwill & intangible assets | $1.2M | $2.5M | $1.3M | $1.3M | $1.4M | $1.4M | $1.5M | $1.6M | $1.6M | $1.7M | $1.7M | $1.8M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $6,615 | $0 | $487,865 | $214,115 | $6,615 | $6,615 | $6,615 | $5,115 | $3,500 | $3,500 | $5,175 | $10,175 |
| Total assets | $19.4M | $21.4M | $9.2M | $10.1M | $8.6M | $9.3M | $10.3M | $11.7M | $14.7M | $17.1M | $28.3M | $9.7M |
| Liabilities | ||||||||||||
| Accounts payable | $3.4M | $2.6M | $3.6M | $3.2M | $2.4M | $2.0M | $1.7M | $3.1M | $2.3M | $1.6M | $1.6M | $4.2M |
| Short-term debt | $55,338 | $53,546 | $51,158 | $48,846 | $46,614 | $44,464 | $42,733 | $31,989 | $3.3M | $3.2M | $11,157 | $22,176 |
| Deferred revenue | $167,000 | $167,000 | $167,000 | $167,000 | $167,000 | $167,000 | — | $167,000 | $167,000 | $167,000 | $167,000 | $167,000 |
| Total current liabilities | $11.1M | $10.0M | $10.7M | $11.1M | $10.3M | $9.5M | $8.8M | $4.0M | $6.5M | $5.4M | $2.2M | $4.4M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $11.2M | $10.9M |
| Lease obligations | $238,982 | $251,612 | $263,490 | $274,771 | $285,597 | $296,077 | $306,223 | $219,160 | $156,296 | $161,728 | $11,157 | $22,176 |
| Other long-term liabilities | $183,644 | $198,066 | $212,331 | $225,925 | $238,982 | $251,612 | $263,490 | $5.8M | $6.0M | $3.4M | $14.8M | $4.3M |
| Total liabilities | $11.3M | $10.2M | $11.0M | $11.3M | $10.5M | $9.7M | $9.1M | $9.7M | $12.5M | $8.8M | $28.3M | $19.5M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $26,306 | $26,306 | $19,456 | $96,866 | $96,866 | $96,228 | $96,178 | $96,178 | $96,054 | $94,369 | $94,360 | $94,298 |
| Retained earnings (deficit) | −$80.1M | −$77.1M | −$75.8M | −$75.2M | −$76.0M | −$74.4M | −$72.8M | −$72.0M | −$71.5M | −$65.4M | −$62.0M | −$71.7M |
| Total shareholders' equity | $8.2M | $11.2M | −$1.7M | −$1.1M | −$1.9M | −$426,832 | $1.2M | $1.9M | $2.2M | $8.3M | $60,354 | −$9.9M |
| Key figures | ||||||||||||
| Total debt | $238,982 | $251,612 | $263,490 | $274,771 | $285,597 | $296,076 | $306,223 | $219,159 | $3.5M | $3.5M | $11.2M | $10.9M |
| Net cash (debt) | $11.6M | $14.5M | $2.0M | $1.5M | $1.2M | $2.9M | $3.1M | $4.2M | $4.9M | $7.7M | $9.7M | −$8.4M |
| Working capital | $4.7M | $7.7M | −$5.7M | −$5.0M | −$5.7M | −$4.3M | −$2.7M | $3.6M | $4.8M | $8.2M | $22.8M | $1.7M |
| Tangible book value | $7.0M | $8.7M | −$3.0M | −$2.5M | −$3.3M | −$1.9M | −$307,602 | $363,261 | $631,216 | $6.6M | −$1.6M | −$11.6M |
| Book value per share | $0.31 | $0.51 | −$0.09 | −$0.06 | −$0.10 | −$0.02 | $0.06 | $0.10 | $0.12 | $0.44 | $0.00 | −$0.52 |
| Shares outstanding | 26.3M | 21.8M | 19.5M | 19.6M | 19.3M | 19.2M | 19.2M | 19.2M | 18.9M | 18.9M | 18.9M | 18.9M |
| Current ratio | 1.42 | 1.77 | 0.47 | 0.55 | 0.44 | 0.55 | 0.69 | 1.90 | 1.74 | 2.52 | 11.45 | 1.38 |
| Quick ratio | 1.31 | 1.69 | 0.40 | 0.49 | 0.35 | 0.47 | 0.60 | 1.62 | 1.57 | 2.37 | 11.00 | 1.15 |
| Debt / equity | 0.03 | 0.02 | — | — | — | — | 0.26 | 0.11 | 1.58 | 0.42 | 186.07 | — |
| Equity / assets | 42.0% | 52.2% | −18.6% | −11.3% | −22.7% | −4.6% | 11.6% | 16.4% | 15.1% | 48.3% | 0.2% | −101.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
BCHT financial position
At the end of fiscal 2025 (December 31, 2025), Birchtech had total assets of $9.2 million (down 10.0% from a year earlier), total liabilities of $11.0 million and shareholders' equity of -$1.7 million. It held $2.2 million in cash and short-term investments against $0.3 million of debt, a net cash position of $2.0 million. Its current ratio was 0.47. In the latest quarter (ended June 30, 2026) total assets were $19.4 million and equity $8.2 million.
Related: BCHT income statement, BCHT cash flow statement, BCHT key metrics. See the BCHT stock overview for the latest quote and news.
BCHT balance sheet FAQ
What are Birchtech's total assets?
Birchtech reported total assets of $9.2 million at the end of fiscal 2025 (December 31, 2025), compared with $10.3 million a year earlier.
How much debt does Birchtech have?
Birchtech had $0.3 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Birchtech have?
Birchtech held $2.2 million in cash and short-term investments at the end of fiscal 2025; with $0.3 million of debt that is net cash of $2.0 million.
What is Birchtech's book value?
Birchtech's shareholders' equity (book value) was -$1.7 million at the end of fiscal 2025, or −$0.09 per share.
What is Birchtech's current ratio?
Birchtech had current assets of $5.0 million and current liabilities of $10.7 million, a current ratio of 0.47 (current liabilities exceed current assets).
How much goodwill does Birchtech have?
Birchtech carried $1.3 million of goodwill and intangible assets, 14.0% of total assets, at the end of fiscal 2025.