Blue Star Foods Corp. (BSFC) Balance Sheet
BSFC balance sheet, 2025
December 31, 2025 · U.S. dollars$1.4M assets = $3.7M liabilities + −$2.4M equity
Liabilities exceed assets: shareholders’ equity is negative (−$2.4M).
Both columns are drawn to the same scale: what BSFC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BSFC financial health
Descriptive bands, not a rating. Fiscal 2025.
BSFC balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $15.8M2016 | $1.4M2025 | −23.7%/yr | |
| Total liabilities | $17.1M2016 | $3.7M2025 | −15.5%/yr | |
| Shareholders’ equity | −$1.3M2016 | −$2.4M2025 | — | |
| Cash & short-term investments | $54,9802016 | $14,4362025 | −13.8%/yr | |
| Total debt | $12.1M2016 | $43,4982025 | −46.5%/yr | |
| Net cash (debt) | −$12.1M2016 | −$29,0622025 | +$12.0M | |
| Working capital | −$2.1M2016 | −$2.5M2025 | −$425,907 | |
| Current ratio | 0.882016 | 0.312025 | −0.56 | |
| Debt / equity | 4,176.082017 | 0.402023 | −4175.68 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BSFC assets
BSFC liabilities and equity
BSFC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BSFC balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $14,436 | $326,854 | $24,163 | $9,262 | $1.2M | $55,644 | $153,904 | $13,143 | $4,000 | $54,980 |
| Cash & equivalents | $14,436 | $326,854 | $24,163 | $9,262 | $1.2M | $55,644 | $153,904 | $13,143 | $4,000 | $54,980 |
| Receivables | $55,091 | $349,641 | $534,195 | $813,416 | $1.2M | $1.1M | $3.4M | $4.6M | $4.7M | $5.4M |
| Inventory | $404,979 | $447,760 | $2.7M | $4.8M | $2.1M | $1.8M | $8.0M | $8.1M | $13.0M | $9.4M |
| Other current assets | $686,145 | $1.1M | $792,996 | $890,458 | $5.1M | $1.8M | $284,606 | $425,012 | $0 | $364,040 |
| Total current assets | $1.2M | $2.2M | $4.1M | $6.5M | $9.6M | $4.7M | $11.8M | $13.2M | $4,000 | $15.3M |
| Property, plant & equipment (net) | $156,247 | $207,005 | $428,871 | $317,940 | $2.0M | $119,536 | $1.3M | $109,169 | $146,500 | $175,410 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $3.8M | $2.4M | $2.6M | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $455,545 | $0 | $0 | $0 | $0 |
| Other non-current assets | $69,336 | $113,845 | $1.8M | $1.8M | $580,179 | $108,088 | $125,418 | $218,254 | $0 | $343,920 |
| Total assets | $1.4M | $2.6M | $6.4M | $8.7M | $15.9M | $7.8M | $15.7M | $13.5M | $4,000 | $15.8M |
| Liabilities | ||||||||||
| Accounts payable | $538,635 | $307,121 | $661,377 | $2.4M | $1.8M | $1.6M | $3.5M | $2,400 | $387 | $5.3M |
| Short-term debt | — | — | $457,986 | $6.3M | $3.8M | $4.3M | $11.0M | $11.1M | — | — |
| Deferred revenue | — | — | $47,819 | $47,078 | $109,414 | −$1.6M | −$3.5M | — | — | — |
| Total current liabilities | $3.7M | $2.6M | $3.2M | $9.5M | $6.8M | $7.3M | $14.6M | $14.3M | $387 | $17.4M |
| Long-term debt | $43,498 | $52,865 | $481,329 | $250,000 | $206,263 | $515,000 | $610,000 | $0 | $0 | $0 |
| Lease obligations | $50,097 | $84,145 | $125,014 | $196,960 | $70,692 | $99,181 | $1.2M | — | — | — |
| Other long-term liabilities | $10,520 | $48,457 | $89,586 | $139,631 | $40,109 | $69,844 | $1.1M | $11.1M | $0 | $0 |
| Total liabilities | $3.7M | $2.7M | $3.8M | $9.9M | $7.0M | $7.8M | $16.3M | $14.3M | $387 | $17.1M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | — | — | $2,324 | $2,704 | $2,480 | $1,958 | $1,761 | $1,603 | $1,000 | $500 |
| Retained earnings (deficit) | −$49.9M | −$46.3M | −$33.8M | −$29.3M | −$16.1M | −$13.5M | −$9.0M | −$3.9M | −$387 | −$1.9M |
| Accumulated other comprehensive income | — | — | −$179,995 | −$235,853 | −$54,240 | $0 | $118,222 | — | −$213,260 | −$150,860 |
| Total shareholders' equity | −$2.4M | −$191,697 | $2.6M | −$1.2M | $8.9M | −$19,723 | −$519,712 | −$819,514 | $3,613 | −$1.3M |
| Key figures | ||||||||||
| Total debt | $43,498 | $52,865 | $1.0M | $6.7M | $4.1M | $4.9M | $12.7M | $11.1M | $15.1M | $12.1M |
| Net cash (debt) | −$29,062 | $273,989 | −$1.0M | −$6.7M | −$2.9M | −$4.8M | −$12.6M | −$11.1M | −$15.1M | −$12.1M |
| Working capital | −$2.5M | −$411,225 | $899,214 | −$3.0M | $2.8M | −$2.5M | −$2.8M | −$1.1M | $3,613 | −$2.1M |
| Tangible book value | −$2.4M | −$191,697 | $2.6M | −$1.2M | $5.1M | −$2.4M | −$3.1M | −$819,514 | $3,613 | −$1.3M |
| Book value per share | −$0.03 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 91.6M | — | — | — | — | — | — | — | — | — |
| Current ratio | 0.31 | 0.84 | 1.28 | 0.68 | 1.42 | 0.65 | 0.81 | 0.92 | 10.34 | 0.88 |
| Quick ratio | 0.02 | 0.26 | 0.17 | 0.09 | 0.35 | 0.16 | 0.24 | 0.32 | 12,091.96 | 0.31 |
| Debt / equity | — | — | 0.40 | — | 0.46 | — | — | — | 4,176.08 | — |
| Equity / assets | −170.0% | −7.5% | 40.8% | −14.4% | 55.9% | −0.3% | −3.3% | −6.1% | 90.3% | −8.1% |
| 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 | $11,119 | $16,948 | $14,436 | $82,770 | $45,976 | $23,049 | $326,854 | $72,697 | $73,110 | $22,298 | $24,163 | $488,833 |
| Cash & equivalents | $11,119 | $16,948 | $14,436 | $82,770 | $45,976 | $23,049 | $326,854 | $72,697 | $73,110 | $22,298 | $24,163 | $488,833 |
| Receivables | $31,561 | $93,425 | $55,091 | $97,240 | $344,309 | $455,518 | $349,641 | $1.3M | $600,478 | $910,815 | $534,195 | $152,954 |
| Inventory | $393,185 | $355,572 | $404,979 | $117,266 | $248,995 | $342,825 | $447,760 | $2.4M | $2.6M | $2.3M | $2.6M | $2.0M |
| Other current assets | $653,390 | $663,873 | $686,145 | $733,447 | $565,272 | $932,810 | $1.1M | $1.7M | $2.5M | $1.3M | $928,997 | $2.3M |
| Total current assets | $1.1M | $1.1M | $1.2M | $1.0M | $1.2M | $1.8M | $2.2M | $5.5M | $5.8M | $4.5M | $4.1M | $5.0M |
| Property, plant & equipment (net) | $132,693 | $140,182 | $156,247 | $172,602 | $188,992 | $200,988 | $207,005 | $491,084 | $463,766 | $438,884 | $428,871 | $427,476 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $66,093 | $67,714 | $69,336 | $70,958 | $78,297 | $95,328 | $113,845 | $1.9M | $1.9M | $1.9M | $1.8M | $1.9M |
| Total assets | $1.3M | $1.3M | $1.4M | $1.3M | $1.5M | $2.1M | $2.6M | $7.8M | $8.1M | $6.9M | $6.4M | $7.2M |
| Liabilities | ||||||||||||
| Accounts payable | $771,957 | $903,887 | $538,635 | $492,901 | $599,824 | — | $307,121 | — | $839,494 | $1.1M | — | $547,133 |
| Short-term debt | — | — | — | — | — | — | — | $1.0M | $1.0M | $633,953 | — | $1.2M |
| Deferred revenue | — | — | — | — | — | — | — | — | — | $47,263 | — | $47,265 |
| Total current liabilities | $4.2M | $4.3M | $3.7M | $2.7M | $2.8M | $2.4M | $2.6M | $2.9M | $3.2M | $3.7M | $3.2M | $6.2M |
| Long-term debt | $34,631 | $40,998 | $43,498 | $258,297 | $48,509 | $208,074 | $52,865 | $127,199 | $188,509 | $533,058 | $481,329 | $441,200 |
| Lease obligations | $39,452 | $40,383 | $50,097 | $59,095 | $69,114 | $74,599 | $84,145 | $97,286 | $104,788 | $114,807 | $125,014 | $159,295 |
| Other long-term liabilities | $459 | $459 | $10,520 | $20,337 | $30,561 | $38,564 | $48,457 | $60,371 | $68,936 | $79,157 | $89,586 | $108,526 |
| Total liabilities | $4.3M | $4.3M | $3.7M | $3.0M | $2.8M | $2.7M | $2.7M | $3.1M | $3.5M | $4.3M | $3.8M | $6.8M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | — | — | — | — | — | — | $351 | $233 | $3,593 | — | $597 |
| Retained earnings (deficit) | −$50.7M | −$50.6M | −$49.9M | −$48.6M | −$48.1M | −$47.5M | −$46.3M | −$38.1M | −$36.7M | −$34.9M | −$33.8M | −$33.2M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | −$101,171 | −$83,173 | −$101,962 | — | −$161,450 |
| Total shareholders' equity | −$3.0M | −$3.0M | −$2.4M | −$1.7M | −$1.4M | −$637,643 | −$191,697 | $4.7M | $4.6M | $2.6M | $2.6M | $482,294 |
| Key figures | ||||||||||||
| Total debt | $34,631 | $40,998 | $43,498 | $258,297 | $48,509 | $208,074 | $52,865 | $1.2M | $1.3M | $1.2M | $481,329 | $1.8M |
| Net cash (debt) | −$23,512 | −$24,050 | −$29,062 | −$175,527 | −$2,533 | −$185,025 | $273,989 | −$1.1M | −$1.2M | −$1.2M | −$457,166 | −$1.3M |
| Working capital | −$3.1M | −$3.1M | −$2.5M | −$1.7M | −$1.6M | −$687,321 | −$411,225 | $2.5M | $2.5M | $869,797 | $899,215 | −$1.3M |
| Tangible book value | −$3.0M | −$3.0M | −$2.4M | −$1.7M | −$1.4M | −$637,643 | −$191,697 | $4.7M | $4.6M | $2.6M | $2.6M | $482,294 |
| Book value per share | −$0.02 | −$0.02 | −$0.03 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 163.9M | 163.9M | 91.6M | — | — | — | — | — | — | — | — | — |
| Current ratio | 0.26 | 0.26 | 0.31 | 0.38 | 0.44 | 0.72 | 0.84 | 1.86 | 1.78 | 1.24 | 1.28 | 0.80 |
| Quick ratio | 0.01 | 0.03 | 0.02 | 0.07 | 0.14 | 0.20 | 0.26 | 0.47 | 0.21 | 0.25 | 0.17 | 0.10 |
| Debt / equity | — | — | — | — | — | — | — | 0.26 | 0.27 | 0.48 | 0.19 | 3.71 |
| Equity / assets | −230.8% | −221.9% | −170.0% | −133.4% | −92.8% | −31.1% | −7.5% | 60.3% | 56.9% | 37.6% | 40.8% | 6.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed —); data from EODHD.
BSFC financial position
At the end of fiscal 2025 (December 31, 2025), Blue Star Foods had total assets of $1.4 million (down 45.7% from a year earlier), total liabilities of $3.7 million and shareholders' equity of -$2.4 million. It held $0.0 million in cash and short-term investments against $0.0 million of debt, net debt of $0.0 million. Its current ratio was 0.31. In the latest quarter (ended June 30, 2026) total assets were $1.3 million and equity -$3.0 million.
Related: BSFC income statement, BSFC cash flow statement, BSFC key metrics. See the BSFC stock overview for the latest quote and news.
BSFC balance sheet FAQ
What are Blue Star Foods's total assets?
Blue Star Foods reported total assets of $1.4 million at the end of fiscal 2025 (December 31, 2025), compared with $2.6 million a year earlier.
How much debt does Blue Star Foods have?
Blue Star Foods had $0.0 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 Blue Star Foods have?
Blue Star Foods held $0.0 million in cash and short-term investments at the end of fiscal 2025; with $0.0 million of debt that is net debt of $0.0 million.
What is Blue Star Foods's book value?
Blue Star Foods's shareholders' equity (book value) was -$2.4 million at the end of fiscal 2025, or −$0.03 per share.
What is Blue Star Foods's current ratio?
Blue Star Foods had current assets of $1.2 million and current liabilities of $3.7 million, a current ratio of 0.31 (current liabilities exceed current assets).