BrightSpring Health Services, Inc. (BTSG) Balance Sheet
BTSG balance sheet, 2025
December 31, 2025 · U.S. dollars$6.41B assets = $4.53B liabilities + $1.89B equity
Both columns are drawn to the same scale: what BTSG owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BTSG financial health
Descriptive bands, not a rating. Fiscal 2025.
BTSG balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $3.82B2019 | $6.41B2025 | +9.0%/yr | |
| Total liabilities | $3.11B2019 | $4.53B2025 | +6.5%/yr | |
| Shareholders’ equity | $656.9M2019 | $1.88B2025 | +19.1%/yr | |
| Cash & short-term investments | $18.3M2019 | $88.4M2025 | +30.0%/yr | |
| Total debt | $2.44B2019 | $2.71B2025 | +1.7%/yr | |
| Net cash (debt) | −$2.43B2019 | −$2.62B2025 | −$193.7M | |
| Working capital | $248.7M2019 | $1.05B2025 | +$796.3M | |
| Book value per share | $3.842019 | $8.532025 | +14.2%/yr | |
| Current ratio | 1.402019 | 1.572025 | +0.17 | |
| Debt / equity | 3.722019 | 1.442025 | −2.28 | |
| Shares outstanding | 171.2M2019 | 219.8M2025 | +4.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BTSG assets
BTSG liabilities and equity
BTSG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BTSG balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $88.4M | $61.3M | $13.1M | $13.6M | $46.7M | $262.0M | $18.3M |
| Cash & equivalents | $88.4M | $61.3M | $13.1M | $13.6M | $46.7M | $262.0M | $18.3M |
| Receivables | $1.07B | $1.15B | $1.01B | $868.4M | $805.0M | $700.8M | $622.3M |
| Inventory | $815.2M | $640.6M | $402.8M | $430.5M | $299.2M | $300.1M | $198.5M |
| Other current assets | $918.3M | $42.2M | $30.0M | $31.8M | $29.7M | $27.5M | $31.6M |
| Total current assets | $2.89B | $1.89B | $1.46B | $1.34B | $1.18B | $1.29B | $870.7M |
| Property, plant & equipment (net) | $376.3M | $500.0M | $513.4M | $475.3M | $524.6M | $450.7M | $432.6M |
| Goodwill & intangible assets | $3.10B | $3.48B | $3.49B | $3.55B | $3.77B | $2.77B | $2.48B |
| Long-term investments | $8.2M | $670,000 | $720,000 | $736,000 | $2.7M | $2.5M | $0 |
| Other non-current assets | $31.5M | $49.4M | $72.1M | $68.9M | $35.8M | $32.2M | $36.9M |
| Total assets | $6.41B | $5.93B | $5.53B | $5.44B | $5.51B | $4.54B | $3.82B |
| Liabilities | |||||||
| Accounts payable | $1.22B | $941.3M | $641.6M | $526.9M | $408.1M | $355.8M | $252.8M |
| Short-term debt | $102.1M | $130.5M | $114.5M | $107.9M | $125.2M | $91.0M | $89.5M |
| Deferred revenue | $9.0M | $11.0M | $30.8M | $29.0M | $10.5M | $22.8M | $3.3M |
| Total current liabilities | $1.85B | $1.43B | $1.25B | $932.5M | $892.2M | $742.8M | $622.0M |
| Long-term debt | $2.46B | $2.56B | $3.33B | $3.36B | $3.39B | $2.67B | $0 |
| Lease obligations | $199.7M | $294.4M | $306.4M | $282.4M | $336.8M | $280.5M | — |
| Other long-term liabilities | $222.7M | $284.4M | $339.8M | $360.2M | $427.3M | $391.6M | $2.49B |
| Total liabilities | $4.53B | $4.27B | $4.92B | $4.66B | $4.71B | $3.81B | $3.11B |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $1.9M | $1.7M | $1.2M | $1.2M | $1.2M | $745.2M | $745.9M |
| Retained earnings (deficit) | −$74.6M | −$222.2M | −$200.3M | −$45.7M | $971,000 | −$51.8M | −$94.3M |
| Accumulated other comprehensive income | −$6.7M | $1.4M | $12.5M | $21.2M | $217,000 | $185,000 | $132,000 |
| Minority interest | $11.3M | $3.7M | $27.8M | $29.3M | — | — | — |
| Total shareholders' equity | $1.88B | $1.65B | $584.7M | $754.8M | $774.8M | $705.0M | $656.9M |
| Key figures | |||||||
| Total debt | $2.71B | $2.90B | $3.67B | $3.68B | $3.77B | $2.97B | $2.44B |
| Net cash (debt) | −$2.62B | −$2.84B | −$3.66B | −$3.66B | −$3.72B | −$2.71B | −$2.43B |
| Working capital | $1.05B | $464.7M | $208.2M | $411.7M | $288.5M | $547.6M | $248.7M |
| Tangible book value | −$1.23B | −$1.84B | −$2.91B | −$2.80B | −$2.99B | −$2.06B | −$1.82B |
| Book value per share | $8.53 | $8.54 | $3.42 | $4.41 | $4.53 | $4.12 | $3.84 |
| Shares outstanding | 219.8M | 193.0M | 171.2M | 171.2M | 171.2M | 171.2M | 171.2M |
| Current ratio | 1.57 | 1.33 | 1.17 | 1.44 | 1.32 | 1.74 | 1.40 |
| Quick ratio | 0.63 | 0.85 | 0.82 | 0.95 | 0.95 | 1.30 | 1.03 |
| Debt / equity | 1.44 | 1.76 | 6.28 | 4.87 | 4.87 | 4.22 | 3.72 |
| Equity / assets | 29.2% | 27.8% | 10.6% | 13.9% | 14.1% | 15.5% | 17.2% |
| 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 | $550.4M | $888.8M | $88.4M | $140.3M | $70.1M | $52.3M | $61.3M | $36.0M | $25.0M | $58.0M | $13.1M | $11.6M |
| Cash & equivalents | $550.4M | $888.8M | $88.4M | $140.3M | $70.1M | $52.3M | $61.3M | $36.0M | $25.0M | $58.0M | $13.1M | $11.6M |
| Receivables | $1.31B | $1.21B | $1.07B | $1.10B | $1.07B | $1.07B | $1.15B | $1.15B | $1.10B | $1.11B | $1.01B | $963.3M |
| Inventory | $575.0M | $560.2M | $815.2M | $639.2M | $625.5M | $533.6M | $640.6M | $478.3M | $374.3M | $373.7M | $402.8M | $378.4M |
| Other current assets | $37.4M | $29.0M | $918.3M | $900.3M | $882.1M | $875.5M | $42.2M | $43.9M | $26.2M | $30.9M | $30.0M | $37.0M |
| Total current assets | $2.47B | $2.69B | $2.89B | $2.78B | $2.65B | $2.53B | $1.89B | $1.71B | $1.52B | $1.57B | $1.46B | $1.39B |
| Property, plant & equipment (net) | $380.8M | $375.2M | $376.3M | $335.1M | $341.7M | $339.6M | $500.0M | $507.7M | $504.2M | $521.8M | $513.4M | $490.0M |
| Goodwill & intangible assets | $3.00B | $3.07B | $3.10B | $2.89B | $2.91B | $2.94B | $3.48B | $3.52B | $3.48B | $3.47B | $3.49B | $3.52B |
| Long-term investments | $7.5M | $8.2M | $8.2M | $5.8M | $970,000 | $650,000 | $670,000 | $675,000 | $681,000 | $689,000 | $720,000 | $730,000 |
| Other non-current assets | $123.8M | $70.1M | $31.5M | $36.1M | $38.5M | $39.9M | $49.4M | $52.8M | $100.7M | $95.1M | $72.1M | $89.9M |
| Total assets | $5.99B | $6.21B | $6.41B | $6.05B | $5.94B | $5.85B | $5.93B | $5.79B | $5.61B | $5.66B | $5.53B | $5.49B |
| Liabilities | ||||||||||||
| Accounts payable | $1.09B | $1.09B | $1.22B | $954.5M | $965.3M | $868.1M | $941.3M | $783.8M | $669.4M | $655.8M | $641.6M | $474.9M |
| Short-term debt | $93.0M | $105.1M | $102.1M | $94.8M | $93.2M | $90.7M | $130.5M | $131.0M | $128.9M | $137.4M | $114.5M | $111.0M |
| Deferred revenue | $13.1M | $9.2M | $9.0M | $8.3M | $8.2M | $8.7M | $11.0M | $20.1M | $24.3M | $25.9M | $30.8M | $35.8M |
| Total current liabilities | $1.56B | $1.55B | $1.85B | $1.55B | $1.51B | $1.46B | $1.43B | $1.26B | $1.15B | $1.24B | $1.25B | $1.04B |
| Long-term debt | $2.15B | $2.44B | $2.46B | $2.47B | $2.48B | $2.49B | $2.56B | $2.61B | $2.56B | $2.52B | $3.33B | $3.46B |
| Lease obligations | $196.9M | $201.9M | $199.7M | $182.1M | $183.1M | $178.8M | $294.4M | $303.0M | $299.9M | $321.4M | $306.4M | $285.4M |
| Other long-term liabilities | $222.6M | $230.1M | $222.7M | $213.2M | $214.9M | $209.4M | $284.4M | $294.4M | $290.6M | $321.1M | $339.8M | $330.4M |
| Total liabilities | $3.93B | $4.22B | $4.53B | $4.23B | $4.20B | $4.16B | $4.27B | $4.17B | $4.00B | $4.08B | $4.92B | $4.83B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $2.0M | $1.9M | $1.9M | $1.8M | $1.8M | $1.8M | $1.7M | $1.7M | $1.7M | $1.7M | $1.2M | $1.2M |
| Retained earnings (deficit) | $38.4M | $14.1M | −$74.6M | −$108.6M | −$164.4M | −$192.6M | −$222.2M | −$234.4M | −$226.2M | −$246.1M | −$200.3M | −$193.8M |
| Accumulated other comprehensive income | $4.2M | −$1.3M | −$6.7M | −$6.3M | −$4.3M | −$1.9M | $1.4M | −$705,000 | $19.0M | $23.1M | $12.5M | $44.6M |
| Minority interest | $9.5M | $10.6M | $11.3M | $2.5M | $2.5M | — | — | — | — | — | — | — |
| Total shareholders' equity | $2.05B | $1.98B | $1.88B | $1.82B | $1.74B | $1.69B | $1.65B | $1.61B | $1.60B | $1.57B | $584.7M | $631.5M |
| Key figures | ||||||||||||
| Total debt | $2.39B | $2.70B | $2.71B | $2.70B | $2.71B | $2.72B | $2.90B | $2.96B | $2.91B | $2.89B | $3.67B | $3.77B |
| Net cash (debt) | −$1.84B | −$1.81B | −$2.62B | −$2.56B | −$2.64B | −$2.66B | −$2.84B | −$2.92B | −$2.89B | −$2.83B | −$3.66B | −$3.76B |
| Working capital | $914.3M | $1.14B | $1.05B | $1.23B | $1.14B | $1.07B | $464.7M | $445.7M | $376.8M | $327.8M | $208.2M | $347.1M |
| Tangible book value | −$954.8M | −$1.09B | −$1.23B | −$1.07B | −$1.17B | −$1.25B | −$1.84B | −$1.90B | −$1.88B | −$1.90B | −$2.91B | −$2.89B |
| Book value per share | $9.30 | $8.94 | $8.58 | $8.34 | $8.06 | $7.85 | $7.73 | $8.14 | $7.65 | $8.93 | $3.42 | $3.69 |
| Shares outstanding | 220.3M | 221.3M | 218.4M | 218.0M | 216.3M | 214.9M | 213.2M | 198.5M | 209.0M | 175.5M | 171.2M | 171.2M |
| Current ratio | 1.59 | 1.74 | 1.57 | 1.79 | 1.76 | 1.73 | 1.33 | 1.35 | 1.33 | 1.26 | 1.17 | 1.33 |
| Quick ratio | 1.19 | 1.36 | 0.63 | 0.80 | 0.76 | 0.77 | 0.85 | 0.94 | 0.98 | 0.94 | 0.82 | 0.93 |
| Debt / equity | 1.17 | 1.36 | 1.44 | 1.48 | 1.56 | 1.61 | 1.76 | 1.83 | 1.82 | 1.84 | 6.28 | 5.98 |
| Equity / assets | 34.2% | 31.9% | 29.2% | 30.1% | 29.3% | 28.9% | 27.8% | 27.9% | 28.5% | 27.7% | 10.6% | 11.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.
BTSG financial position
At the end of fiscal 2025 (December 31, 2025), BrightSpring Health Services had total assets of $6.4 billion (up 8.2% from a year earlier), total liabilities of $4.5 billion and shareholders' equity of $1.9 billion. It held $88.4 million in cash and short-term investments against $2.7 billion of debt, net debt of $2.6 billion. Its current ratio was 1.57. In the latest quarter (ended June 30, 2026) total assets were $6.0 billion and equity $2.0 billion.
Related: BTSG income statement, BTSG cash flow statement, BTSG key metrics. See the BTSG stock overview for the latest quote and news.
BTSG balance sheet FAQ
What are BrightSpring Health Services's total assets?
BrightSpring Health Services reported total assets of $6.4 billion at the end of fiscal 2025 (December 31, 2025), compared with $5.9 billion a year earlier.
How much debt does BrightSpring Health Services have?
BrightSpring Health Services had $2.7 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.44.
How much cash does BrightSpring Health Services have?
BrightSpring Health Services held $88.4 million in cash and short-term investments at the end of fiscal 2025; with $2.7 billion of debt that is net debt of $2.6 billion.
What is BrightSpring Health Services's book value?
BrightSpring Health Services's shareholders' equity (book value) was $1.9 billion at the end of fiscal 2025, or $8.53 per share.
What is BrightSpring Health Services's current ratio?
BrightSpring Health Services had current assets of $2.9 billion and current liabilities of $1.8 billion, a current ratio of 1.57 (it can cover its short-term obligations).
How much goodwill does BrightSpring Health Services have?
BrightSpring Health Services carried $3.1 billion of goodwill and intangible assets, 48.4% of total assets, at the end of fiscal 2025.