CEA Industries Inc. (BNC) Balance Sheet
BNC balance sheet, 2025
December 31, 2025 · U.S. dollars$436.8M assets = $71.9M liabilities + $364.9M equity
Both columns are drawn to the same scale: what BNC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BNC financial health
Descriptive bands, not a rating. Fiscal 2025.
BNC balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.1M2016 | $436.8M2025 | +80.8%/yr | |
| Total liabilities | $4.2M2016 | $71.9M2025 | +37.0%/yr | |
| Shareholders’ equity | −$2.1M2016 | $364.9M2025 | — | |
| Cash & short-term investments | $319,5462016 | $11.3M2025 | +48.6%/yr | |
| Total debt | $773,4252016 | $3.8M2025 | +19.2%/yr | |
| Net cash (debt) | −$453,8792016 | $7.6M2025 | +$8.0M | |
| Working capital | −$2.9M2016 | $13.9M2025 | +$16.7M | |
| Current ratio | 0.322016 | 2.622025 | +2.30 | |
| Debt / equity | 0.002017 | 0.012025 | +0.01 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BNC assets
BNC liabilities and equity
BNC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BNC balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $11.3M | $9.5M | $12.5M | $18.6M | $2.2M | $2.3M | $922,177 | $253,387 | $2.5M | $319,546 |
| Cash & equivalents | $11.3M | $9.5M | $12.5M | $18.6M | $2.2M | $2.3M | $922,177 | $253,387 | $2.5M | $319,546 |
| Receivables | $66,016 | $247,369 | $243,069 | $2,649 | $179,444 | $33,480 | $138,357 | $210,187 | $423,139 | $204,384 |
| Inventory | $3.9M | $25,980 | $301,904 | $348,411 | $378,326 | $327,109 | $1.2M | $935,886 | $522,622 | $747,905 |
| Other current assets | $7.2M | $368,068 | $307,615 | $1.5M | $1.3M | $1.0M | $269,491 | $128,348 | $293,458 | $84,976 |
| Total current assets | $22.5M | $10.1M | $13.4M | $20.5M | $4.0M | $3.7M | $2.6M | $1.5M | $3.7M | $1.4M |
| Property, plant & equipment (net) | $2.2M | $250,968 | $394,667 | $531,387 | $643,223 | $491,682 | $792,056 | $520,321 | $401,356 | $93,565 |
| Goodwill & intangible assets | $9.1M | $1,830 | $1,830 | $1,830 | $632,894 | $638,291 | $642,994 | $654,092 | $669,049 | $667,445 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $403.1M | $14,747 | $14,747 | $14,747 | $14,747 | $0 | $51,000 | $51,000 | $51,000 | $0 |
| Total assets | $436.8M | $10.4M | $13.8M | $21.0M | $5.3M | $4.8M | $4.0M | $2.8M | $4.8M | $2.1M |
| Liabilities | ||||||||||
| Accounts payable | $4.9M | $165,352 | $183,359 | $311,162 | $616,056 | $918,639 | $1.2M | $1.3M | $1.2M | $1.0M |
| Short-term debt | $1.8M | $135,651 | $126,724 | $118,235 | $100,139 | $266,105 | $217,843 | — | $6,927 | $761,440 |
| Deferred revenue | $501,182 | $343,790 | $499,800 | $4.3M | $2.8M | $3.7M | $1.4M | $641,798 | $1.0M | $1.4M |
| Total current liabilities | $8.6M | $1.0M | $1.3M | $5.8M | $4.4M | $5.9M | $4.0M | $2.5M | $3.4M | $4.2M |
| Long-term debt | $753,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $670,000 | $269,798 | $386,351 | $495,086 | $586,365 | — | — | — | — | — |
| Other long-term liabilities | $62.6M | $134,147 | $259,627 | $376,851 | $486,226 | $243,275 | $404,209 | $107,958 | $17,396 | $11,985 |
| Total liabilities | $71.9M | $1.2M | $1.5M | $6.1M | $4.9M | $6.1M | $4.4M | $2.6M | $3.4M | $4.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $437 | $8 | $81 | $80 | $16 | $2,366 | $2,283 | $2,250 | $2,062 | $1,607 |
| Retained earnings (deficit) | $129.4M | −$40.3M | −$37.2M | −$34.3M | −$28.8M | −$27.4M | −$25.7M | −$24.3M | −$19.3M | −$14.3M |
| Accumulated other comprehensive income | $41,298 | — | — | — | — | — | — | $0 | — | — |
| Total shareholders' equity | $364.9M | $9.2M | $12.3M | $14.9M | $389,467 | −$1.3M | −$355,631 | $194,336 | $1.4M | −$2.1M |
| Key figures | ||||||||||
| Total debt | $3.8M | $269,798 | $386,351 | $495,086 | $586,365 | $435,224 | $622,052 | — | $6,927 | $773,425 |
| Net cash (debt) | $7.6M | $9.2M | $12.1M | $18.1M | $1.6M | $1.8M | $300,125 | — | $2.5M | −$453,879 |
| Working capital | $13.9M | $9.1M | $12.1M | $14.7M | −$415,171 | −$2.2M | −$1.4M | −$923,119 | $308,477 | −$2.9M |
| Tangible book value | $355.8M | $9.2M | $12.3M | $14.9M | −$243,427 | −$2.0M | −$998,625 | −$459,756 | $743,437 | −$2.8M |
| Book value per share | $6.86 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 53.2M | — | — | — | — | — | — | — | — | — |
| Current ratio | 2.62 | 9.80 | 10.68 | 3.56 | 0.91 | 0.62 | 0.64 | 0.62 | 1.09 | 0.32 |
| Quick ratio | 1.33 | 9.42 | 10.19 | 3.24 | 0.53 | 0.39 | 0.27 | 0.19 | 0.85 | 0.12 |
| Debt / equity | 0.01 | 0.03 | 0.03 | 0.03 | 1.51 | — | — | — | 0.00 | — |
| Equity / assets | 83.5% | 88.8% | 89.0% | 70.8% | 7.4% | −27.7% | −8.8% | 7.1% | 29.3% | −99.7% |
| 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 | $7.1M | $3.1M | $11.3M | $32.5M | $3.0M | $8.7M | $9.5M | $10.3M | $11.3M | $11.6M | $12.5M | $13.3M |
| Cash & equivalents | $7.1M | $3.1M | $11.3M | $32.5M | $3.0M | $8.7M | $9.5M | $10.3M | $11.3M | $11.6M | $12.5M | $13.3M |
| Receivables | $0 | $0 | $66,016 | $21.2M | $422,269 | $291,172 | $247,369 | $295,654 | $256,572 | $244,540 | $243,069 | $272,547 |
| Inventory | $3.8M | $4.0M | $3.9M | $3.5M | $3.4M | $20,283 | $25,980 | $152,680 | $230,670 | $258,894 | $296,404 | $315,096 |
| Other current assets | $3.9M | $3.1M | $7.2M | $873,408 | $479,848 | $179,258 | $368,068 | $293,260 | $407,724 | $214,514 | $313,115 | $323,751 |
| Total current assets | $14.8M | $10.2M | $22.5M | $58.1M | $7.3M | $9.2M | $10.1M | $11.0M | $12.2M | $12.3M | $13.4M | $14.3M |
| Property, plant & equipment (net) | $0 | $0 | $2.2M | $2.1M | $2.2M | $221,457 | $250,968 | $282,980 | $315,526 | $347,811 | $394,667 | $428,906 |
| Goodwill & intangible assets | $7.9M | $8.3M | $9.1M | $8.9M | $9.4M | $1,830 | $1,830 | $1,830 | $1,830 | $1,830 | $1,830 | $1,830 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $304.4M | $319.3M | $403.1M | $547.3M | $231,257 | $14,747 | $14,747 | $14,747 | $14,747 | $14,747 | $14,747 | $14,747 |
| Total assets | $327.2M | $337.8M | $436.8M | $616.5M | $19.1M | $9.4M | $10.4M | $11.3M | $12.6M | $12.7M | $13.8M | $14.7M |
| Liabilities | ||||||||||||
| Accounts payable | $4.4M | $5.3M | $4.9M | $1.3M | $1.1M | $336,476 | $165,352 | $162,528 | $598,745 | $101,591 | $183,359 | $164,041 |
| Short-term debt | $17.4M | $1.8M | $1.8M | $5.0M | $4.8M | $137,875 | $135,651 | $133,127 | $130,973 | $128,839 | $126,724 | $124,319 |
| Deferred revenue | — | — | $501,182 | $739,643 | $433,122 | $474,679 | $343,790 | $468,963 | $393,358 | $539,956 | $499,800 | $474,888 |
| Total current liabilities | $24.1M | $8.6M | $8.6M | $11.2M | $8.3M | $1.1M | $1.0M | $966,244 | $1.4M | $1.0M | $1.3M | $1.2M |
| Long-term debt | $0 | $753,000 | $750,022 | $1.4M | $1.4M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $621,000 | $670,000 | $1.9M | $1.9M | $2.0M | $239,189 | $269,798 | $299,812 | $328,919 | $357,766 | — | — |
| Other long-term liabilities | $13.6M | $23.7M | $62.6M | $118.9M | $2.5M | $101,314 | $134,147 | $166,685 | $197,946 | $228,927 | $259,627 | $290,051 |
| Total liabilities | $37.7M | $33.1M | $71.9M | $131.6M | $12.2M | $1.2M | $1.2M | $1.1M | $1.6M | $1.3M | $1.5M | $1.5M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | — | $437 | $454 | $9 | $8 | $8 | $8 | $8 | $82 | $81 | $81 |
| Retained earnings (deficit) | $62.0M | $73.4M | $129.4M | $236.0M | −$47.7M | −$41.4M | −$40.3M | −$39.3M | −$38.6M | −$38.1M | −$37.2M | −$36.2M |
| Accumulated other comprehensive income | −$156,000 | $59,000 | $41,298 | −$49,550 | −$46,864 | — | — | — | — | — | — | — |
| Total shareholders' equity | $289.4M | $304.8M | $364.9M | $484.9M | $6.9M | $8.2M | $9.2M | $10.2M | $10.9M | $11.4M | $12.3M | $13.2M |
| Key figures | ||||||||||||
| Total debt | $18.5M | $3.6M | $3.8M | $7.6M | $7.5M | $239,189 | $269,798 | $299,812 | $328,919 | $357,766 | $386,351 | $414,370 |
| Net cash (debt) | −$11.4M | −$545,000 | $7.6M | $25.0M | −$4.5M | $8.5M | $9.2M | $10.0M | $11.0M | $11.2M | $12.1M | $12.9M |
| Working capital | −$9.3M | $1.6M | $13.9M | $46.8M | −$1.0M | $8.1M | $9.1M | $10.1M | $10.8M | $11.3M | $12.1M | $13.1M |
| Tangible book value | $281.5M | $296.4M | $355.8M | $475.9M | −$2.5M | $8.2M | $9.2M | $10.2M | $10.9M | $11.4M | $12.3M | $13.2M |
| Book value per share | $5.47 | $6.65 | $6.86 | $9.22 | — | — | — | — | — | — | — | — |
| Shares outstanding | 52.9M | 45.8M | 53.2M | 52.6M | — | — | — | — | — | — | — | — |
| Current ratio | 0.62 | 1.18 | 2.62 | 5.17 | 0.88 | 8.16 | 9.80 | 11.42 | 8.66 | 11.95 | 10.68 | 12.17 |
| Quick ratio | 0.29 | 0.35 | 1.33 | 4.78 | 0.41 | 7.98 | 9.42 | 10.96 | 8.21 | 11.49 | 10.19 | 11.63 |
| Debt / equity | 0.06 | 0.01 | 0.01 | 0.02 | 1.09 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 |
| Equity / assets | 88.5% | 90.2% | 83.5% | 78.7% | 36.1% | 87.0% | 88.8% | 90.0% | 87.2% | 90.1% | 89.0% | 90.1% |
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.
BNC financial position
At the end of fiscal 2025 (December 31, 2025), CEA Industries had total assets of $436.8 million (up 4,115.2% from a year earlier), total liabilities of $71.9 million and shareholders' equity of $364.9 million. It held $11.3 million in cash and short-term investments against $3.8 million of debt, a net cash position of $7.6 million. Its current ratio was 2.62. In the latest quarter (ended June 30, 2026) total assets were $327.2 million and equity $289.4 million.
Related: BNC income statement, BNC cash flow statement, BNC key metrics. See the BNC stock overview for the latest quote and news.
BNC balance sheet FAQ
What are CEA Industries's total assets?
CEA Industries reported total assets of $436.8 million at the end of fiscal 2025 (December 31, 2025), compared with $10.4 million a year earlier.
How much debt does CEA Industries have?
CEA Industries had $3.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.
How much cash does CEA Industries have?
CEA Industries held $11.3 million in cash and short-term investments at the end of fiscal 2025; with $3.8 million of debt that is net cash of $7.6 million.
What is CEA Industries's book value?
CEA Industries's shareholders' equity (book value) was $364.9 million at the end of fiscal 2025, or $6.86 per share.
What is CEA Industries's current ratio?
CEA Industries had current assets of $22.5 million and current liabilities of $8.6 million, a current ratio of 2.62 (it can cover its short-term obligations).
How much goodwill does CEA Industries have?
CEA Industries carried $9.1 million of goodwill and intangible assets, 2.1% of total assets, at the end of fiscal 2025.