Cabaletta Bio, Inc. (CABA) Balance Sheet
CABA balance sheet, 2025
December 31, 2025 · U.S. dollars$165.1M assets = $53.0M liabilities + $112.1M equity
Both columns are drawn to the same scale: what CABA owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CABA financial health
Descriptive bands, not a rating. Fiscal 2025.
CABA balance sheet trends, 2017–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1,0002017 | $165.1M2025 | +349.0%/yr | |
| Total liabilities | $250,0002017 | $53.0M2025 | +95.4%/yr | |
| Shareholders’ equity | −$249,0002017 | $112.1M2025 | — | |
| Cash & short-term investments | $1,0002017 | $133.6M2025 | +337.2%/yr | |
| Total debt | $43.9M2018 | $27.1M2025 | −6.7%/yr | |
| Net cash (debt) | −$10.9M2018 | $106.5M2025 | +$117.4M | |
| Working capital | −$249,0002017 | $88.7M2025 | +$89.0M | |
| Book value per share | $5.772023 | $1.102025 | −56.4%/yr | |
| Current ratio | 0.002017 | 2.772025 | +2.76 | |
| Debt / equity | 0.052022 | 0.242025 | +0.19 | |
| Shares outstanding | 40.9M2023 | 102.3M2025 | +58.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CABA assets
CABA liabilities and equity
CABA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CABA balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Cash & short-term investments | $133.6M | $164.0M | $241.2M | $106.5M | $122.2M | $108.7M | $136.2M | $33.0M | $1,000 |
| Cash & equivalents | $83.0M | $164.0M | $193.2M | $81.6M | $122.2M | $101.4M | $136.2M | $33.0M | $1,000 |
| Short-term investments | $50.6M | $0 | $48.0M | $24.9M | $0 | $7.2M | — | — | — |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $5.3M | $2.7M | $3.2M | $2.3M | $2.3M | $4.9M | $4.3M | $977,000 | $0 |
| Total current assets | $138.9M | $166.7M | $244.5M | $108.8M | $124.5M | $113.5M | $140.6M | $34.0M | $1,000 |
| Property, plant & equipment (net) | $21.1M | $16.1M | $7.5M | $7.6M | $1.4M | $890,000 | $815,000 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $5.2M | $2.3M | $1.7M | $565,000 | $357,000 | $299,000 | $101,000 | $180,000 | $0 |
| Total assets | $165.1M | $185.0M | $253.7M | $117.0M | $126.3M | $114.7M | $141.5M | $34.2M | $1,000 |
| Liabilities | |||||||||
| Accounts payable | $6.6M | $4.9M | $4.5M | $2.5M | $2.3M | $1.2M | $920,000 | $603,000 | $189,000 |
| Short-term debt | $24.2M | $10.0M | $3.6M | $2.2M | — | — | — | — | — |
| Total current liabilities | $50.2M | $27.1M | $16.0M | $9.5M | $8.4M | $5.2M | $3.1M | $943,000 | $250,000 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $27.1M | $15.6M | $5.0M | $5.1M | $0 | — | — | — | — |
| Other long-term liabilities | $2.9M | $5.6M | $1.5M | $3.0M | $2.3M | $1.2M | $920,000 | $43.9M | $189,000 |
| Total liabilities | $53.0M | $32.7M | $17.5M | $12.4M | $8.4M | $5.2M | $3.1M | $44.9M | $250,000 |
| Shareholders' equity | |||||||||
| Common stock & paid-in capital | $1,000 | $1,000 | — | — | — | — | — | — | — |
| Retained earnings (deficit) | −$517.0M | −$349.1M | −$233.2M | −$165.6M | −$112.6M | −$66.3M | −$33.0M | −$12.5M | −$250,000 |
| Accumulated other comprehensive income | $25,000 | — | $39,000 | −$47,000 | — | $6,000 | −$104,000 | — | — |
| Total shareholders' equity | $112.1M | $152.3M | $236.2M | $104.5M | $118.0M | $109.5M | $138.3M | −$10.7M | −$249,000 |
| Key figures | |||||||||
| Total debt | $27.1M | $15.6M | $5.0M | $5.1M | — | — | — | $43.9M | — |
| Net cash (debt) | $106.5M | $148.4M | $236.2M | $101.4M | — | — | — | −$10.9M | — |
| Working capital | $88.7M | $139.6M | $228.5M | $99.3M | $116.2M | $108.4M | $137.4M | $33.1M | −$249,000 |
| Tangible book value | $112.1M | $152.3M | $236.2M | $104.5M | $118.0M | $109.5M | $138.3M | −$10.7M | −$249,000 |
| Book value per share | $1.10 | $3.08 | $5.77 | — | — | — | — | — | — |
| Shares outstanding | 102.3M | 49.5M | 40.9M | — | — | — | — | — | — |
| Current ratio | 2.77 | 6.15 | 15.29 | 11.47 | 14.86 | 21.92 | 44.66 | 36.05 | 0.00 |
| Quick ratio | 2.66 | 6.05 | 15.08 | 11.23 | 14.58 | 20.98 | 43.28 | 35.01 | 0.00 |
| Debt / equity | 0.24 | 0.10 | 0.02 | 0.05 | — | — | — | — | — |
| Equity / assets | 67.9% | 82.3% | 93.1% | 89.4% | 93.4% | 95.5% | 97.8% | −31.3% | −24,900.0% |
| 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 | $225.1M | $116.6M | $133.6M | $159.9M | $194.7M | $131.8M | $164.0M | $183.0M | $203.2M | $223.8M | $241.2M | $164.4M |
| Cash & equivalents | $225.1M | $116.6M | $83.0M | $60.2M | $145.6M | $131.8M | $164.0M | $170.6M | $178.6M | $175.3M | $193.2M | $115.5M |
| Short-term investments | $0 | $0 | $50.6M | $99.7M | $49.1M | — | $0 | $12.4M | $24.6M | $48.6M | $48.0M | $48.9M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $5.9M | $5.7M | $5.3M | $4.6M | $3.7M | $2.8M | $2.7M | $2.5M | $3.0M | $3.6M | $3.2M | $1.8M |
| Total current assets | $231.0M | $122.3M | $138.9M | $164.6M | $198.4M | $134.6M | $166.7M | $185.5M | $206.3M | $227.5M | $244.5M | $166.2M |
| Property, plant & equipment (net) | $19.5M | $20.6M | $21.1M | $21.6M | $23.6M | $28.2M | $16.1M | $16.4M | $8.9M | $10.6M | $7.5M | $6.1M |
| 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 | $6.2M | $5.3M | $5.2M | $3.6M | $2.5M | $2.4M | $2.3M | $2.5M | $2.3M | $2.4M | $1.7M | $984,000 |
| Total assets | $256.7M | $148.1M | $165.1M | $189.8M | $224.5M | $165.1M | $185.0M | $204.4M | $217.4M | $240.5M | $253.7M | $173.3M |
| Liabilities | ||||||||||||
| Accounts payable | $5.8M | $6.4M | $6.6M | $8.3M | $7.2M | $6.5M | $4.9M | $2.2M | $4.2M | $5.8M | $4.5M | $3.6M |
| Short-term debt | $19.5M | $23.1M | $24.2M | $21.2M | $20.4M | $19.2M | $10.0M | $7.9M | $7.4M | $7.4M | $3.6M | $2.5M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$4.0M | — | — | $4.4M |
| Total current liabilities | $39.9M | $41.5M | $50.2M | $45.7M | $41.5M | $34.0M | $27.1M | $22.9M | $17.9M | $18.0M | $16.0M | $10.6M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $25.7M | $26.4M | $27.1M | $25.8M | $24.9M | $28.8M | $15.6M | $15.2M | $7.4M | $8.2M | $5.0M | $4.3M |
| Other long-term liabilities | $6.2M | $3.3M | $2.9M | $4.6M | $4.5M | $9.6M | $5.6M | $7.3M | $0 | $765,000 | $1.5M | $1.7M |
| Total liabilities | $46.1M | $44.8M | $53.0M | $50.3M | $46.0M | $43.6M | $32.7M | $30.2M | $17.9M | $18.7M | $17.5M | $12.4M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | — | — | — | — | — |
| Retained earnings (deficit) | −$611.5M | −$560.5M | −$517.0M | −$475.0M | −$430.2M | −$385.0M | −$349.1M | −$316.5M | −$285.9M | −$258.3M | −$233.2M | −$212.4M |
| Accumulated other comprehensive income | — | — | $25,000 | $23,000 | $1,000 | — | — | $1,000 | −$29,000 | −$38,000 | $39,000 | −$21,000 |
| Total shareholders' equity | $210.6M | $103.3M | $112.1M | $139.5M | $178.5M | $121.6M | $152.3M | $174.2M | $199.5M | $221.7M | $236.2M | $160.9M |
| Key figures | ||||||||||||
| Total debt | $25.7M | $26.4M | $27.1M | $25.8M | $24.9M | $28.8M | $15.6M | $15.2M | $7.4M | $8.2M | $5.0M | $4.3M |
| Net cash (debt) | $199.4M | $90.2M | $106.5M | $134.2M | $169.8M | $103.0M | $148.4M | $167.8M | $195.8M | $215.7M | $236.2M | $160.1M |
| Working capital | $191.1M | $80.8M | $88.7M | $118.8M | $156.9M | $100.6M | $139.6M | $162.6M | $188.4M | $209.5M | $228.5M | $155.6M |
| Tangible book value | $210.6M | $103.3M | $112.1M | $139.5M | $178.5M | $121.6M | $152.3M | $174.2M | $199.5M | $221.7M | $236.2M | $160.9M |
| Book value per share | $1.39 | $0.92 | $1.10 | $1.36 | $2.88 | $2.46 | $3.03 | $3.52 | $4.04 | $4.50 | $5.32 | $3.66 |
| Shares outstanding | 151.2M | 112.0M | 102.3M | 102.3M | 61.9M | 49.5M | 50.2M | 49.5M | 49.4M | 49.3M | 44.4M | 44.0M |
| Current ratio | 5.79 | 2.95 | 2.77 | 3.60 | 4.78 | 3.96 | 6.15 | 8.11 | 11.52 | 12.66 | 15.29 | 15.65 |
| Quick ratio | 5.64 | 2.81 | 2.66 | 3.50 | 4.69 | 3.88 | 6.05 | 8.00 | 11.35 | 12.46 | 15.08 | 15.49 |
| Debt / equity | 0.12 | 0.26 | 0.24 | 0.18 | 0.14 | 0.24 | 0.10 | 0.09 | 0.04 | 0.04 | 0.02 | 0.03 |
| Equity / assets | 82.0% | 69.7% | 67.9% | 73.5% | 79.5% | 73.6% | 82.3% | 85.2% | 91.8% | 92.2% | 93.1% | 92.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 23, 2026); data from EODHD.
CABA financial position
At the end of fiscal 2025 (December 31, 2025), Cabaletta Bio had total assets of $165.1 million (down 10.8% from a year earlier), total liabilities of $53.0 million and shareholders' equity of $112.1 million. It held $133.6 million in cash and short-term investments against $27.1 million of debt, a net cash position of $106.5 million. Its current ratio was 2.77. In the latest quarter (ended June 30, 2026) total assets were $256.7 million and equity $210.6 million.
Related: CABA income statement, CABA cash flow statement, CABA key metrics. See the CABA stock overview for the latest quote and news.
CABA balance sheet FAQ
What are Cabaletta Bio's total assets?
Cabaletta Bio reported total assets of $165.1 million at the end of fiscal 2025 (December 31, 2025), compared with $185.0 million a year earlier.
How much debt does Cabaletta Bio have?
Cabaletta Bio had $27.1 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 Cabaletta Bio have?
Cabaletta Bio held $133.6 million in cash and short-term investments at the end of fiscal 2025; with $27.1 million of debt that is net cash of $106.5 million.
What is Cabaletta Bio's book value?
Cabaletta Bio's shareholders' equity (book value) was $112.1 million at the end of fiscal 2025, or $1.10 per share.
What is Cabaletta Bio's current ratio?
Cabaletta Bio had current assets of $138.9 million and current liabilities of $50.2 million, a current ratio of 2.77 (it can cover its short-term obligations).