CBAK Energy Technology, Inc. (CBAT) Balance Sheet
CBAT balance sheet, 2025
December 31, 2025 · U.S. dollars$426.2M assets = $316.7M liabilities + $109.5M equity
Both columns are drawn to the same scale: what CBAT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CBAT financial health
Descriptive bands, not a rating. Fiscal 2025.
CBAT balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $93.3M2016 | $426.2M2025 | +18.4%/yr | |
| Total liabilities | $78.2M2016 | $316.7M2025 | +16.8%/yr | |
| Shareholders’ equity | $15.1M2016 | $112.7M2025 | +25.0%/yr | |
| Cash & short-term investments | $2.0M2016 | $8.3M2025 | +17.4%/yr | |
| Total debt | $29.6M2016 | $37.7M2025 | +2.7%/yr | |
| Net cash (debt) | −$27.7M2016 | −$29.4M2025 | −$1.8M | |
| Working capital | −$15.2M2016 | −$119.2M2025 | −$104.0M | |
| Book value per share | $0.852016 | $1.262025 | +4.5%/yr | |
| Current ratio | 0.682016 | 0.602025 | −0.08 | |
| Debt / equity | 1.962016 | 0.332025 | −1.63 | |
| Shares outstanding | 17.8M2016 | 89.2M2025 | +19.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CBAT assets
CBAT liabilities and equity
CBAT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CBAT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $8.3M | $11.0M | $4.6M | $6.5M | $8.1M | $11.9M | $1.6M | $449,670 | $1.6M | $2.0M |
| Cash & equivalents | $8.3M | $6.7M | $4.6M | $6.5M | $7.4M | $11.7M | $1.6M | $449,670 | $1.6M | $2.0M |
| Short-term investments | $0 | $4.2M | $108,492 | $790,516 | $790,516 | $235,245 | $63,184 | $56,974 | $25,922 | $28,763 |
| Receivables | $51.3M | $44.9M | $34.0M | $37.9M | $60.0M | $37.0M | $12.2M | $27.3M | $63.5M | $8.7M |
| Inventory | $50.6M | $22.9M | $33.4M | $49.4M | $30.1M | $5.3M | $8.7M | $9.6M | $9.8M | $16.5M |
| Other current assets | $70.4M | $62.7M | $56.4M | $31.9M | $24.5M | $9.0M | $6.0M | $19.0M | $10.3M | $5.1M |
| Total current assets | $180.6M | $141.4M | $128.4M | $125.7M | $122.8M | $63.2M | $28.5M | $56.4M | $85.2M | $32.3M |
| Property, plant & equipment (net) | $214.2M | $131.3M | $130.5M | $101.2M | $119.4M | $78.7M | $67.1M | $63.9M | $60.0M | $53.1M |
| Goodwill & intangible assets | $71.7M | $383.0M | $12.6M | $15.3M | $17.4M | $11,807 | $15,178 | $7.3M | $20,049 | $22,885 |
| Long-term investments | $19.0M | $18.1M | $2.6M | $945,237 | $1.6M | $850,407 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $7.1M | $841,747 | $1.5M | $0 | $0 | $0 | $7.9M | $7.9M |
| Total assets | $426.2M | $302.2M | $281.2M | $244.0M | $262.6M | $142.8M | $95.6M | $127.6M | $153.1M | $93.3M |
| Liabilities | ||||||||||
| Accounts payable | $60.0M | $26.3M | $26.8M | $32.5M | $40.4M | $28.4M | $11.2M | $52.5M | $29.8M | $35.5M |
| Short-term debt | $31.5M | $27.7M | $35.3M | $17.0M | $14.3M | $15.0M | $26.8M | $17.8M | $14.6M | $5.9M |
| Deferred revenue | $29.2M | $12.2M | $4.0M | $6.9M | $6.0M | $151,476 | $742,784 | $335,888 | $270,923 | $122,997 |
| Total current liabilities | $299.8M | $171.7M | $160.5M | $111.9M | $112.8M | $73.7M | $59.0M | $92.9M | $116.9M | $47.6M |
| Long-term debt | $4.1M | $0 | $0 | $0 | $0 | $7.3M | $13.6M | $24.9M | $24.2M | $23.7M |
| Lease obligations | $4.7M | $3.7M | $2.8M | $2.0M | $1.7M | $0 | — | — | — | — |
| Other long-term liabilities | $12.7M | $10.4M | $7.2M | $7.7M | $9.0M | $9.3M | $9.3M | $9.4M | $9.8M | $6.9M |
| Total liabilities | $316.7M | $182.2M | $167.7M | $119.7M | $121.7M | $90.4M | $81.9M | $127.3M | $150.9M | $78.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $88,646 | $90,083 | $90,063 | $89,135 | $88,849 | $79,310 | $53,222 | $26,792 | $26,368 | $19,690 |
| Retained earnings (deficit) | −$133.8M | −$122.6M | −$134.4M | −$131.9M | −$122.5M | −$184.0M | −$176.2M | −$165.4M | −$163.5M | −$139.8M |
| Treasury stock | — | — | — | −$4.1M | −$4.1M | −$4.1M | −$4.1M | −$4.1M | −$4.1M | −$4.1M |
| Accumulated other comprehensive income | −$10.1M | −$13.7M | −$10.4M | −$6.9M | $3.7M | $990,902 | −$514,219 | −$268,429 | −$110,022 | −$167,841 |
| Minority interest | −$3.2M | −$1.6M | $634,036 | $6.9M | $7.6M | $7,735 | $52,777 | $11,977 | — | — |
| Total shareholders' equity | $112.7M | $121.7M | $112.8M | $117.5M | $133.3M | $52.4M | $13.7M | $327,299 | $2.2M | $15.1M |
| Key figures | ||||||||||
| Total debt | $37.7M | $30.1M | $35.7M | $17.6M | $15.2M | $22.3M | $40.4M | $42.7M | $38.8M | $29.6M |
| Net cash (debt) | −$29.4M | −$19.2M | −$31.1M | −$11.1M | −$7.0M | −$10.4M | −$38.8M | −$42.3M | −$37.2M | −$27.7M |
| Working capital | −$119.2M | −$30.3M | −$32.1M | $13.8M | $10.1M | −$10.5M | −$30.5M | −$36.6M | −$31.7M | −$15.2M |
| Tangible book value | $41.0M | −$261.3M | $100.3M | $102.2M | $115.9M | $52.4M | $13.6M | −$7.0M | $2.2M | $15.1M |
| Book value per share | $1.26 | $1.35 | $1.26 | $1.32 | $1.52 | $0.85 | $0.35 | $0.01 | $0.09 | $0.85 |
| Shares outstanding | 89.2M | 90.2M | 89.3M | 88.9M | 87.9M | 62.0M | 39.0M | 26.6M | 23.2M | 17.8M |
| Current ratio | 0.60 | 0.82 | 0.80 | 1.12 | 1.09 | 0.86 | 0.48 | 0.61 | 0.73 | 0.68 |
| Quick ratio | 0.20 | 0.33 | 0.24 | 0.40 | 0.60 | 0.66 | 0.23 | 0.30 | 0.56 | 0.22 |
| Debt / equity | 0.33 | 0.25 | 0.32 | 0.15 | 0.11 | 0.43 | 2.96 | 130.57 | 17.69 | 1.96 |
| Equity / assets | 26.4% | 40.3% | 40.1% | 48.1% | 50.8% | 36.7% | 14.3% | 0.3% | 1.4% | 16.2% |
| Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $9.3M | $8.3M | $10.5M | $45.7M | $9.6M | $11.0M | $24.2M | $44.1M | $23.8M | $58.8M | $3.2M | $3.5M |
| Cash & equivalents | $9.3M | $8.3M | $10.5M | $5.7M | $4.1M | $6.7M | $10.4M | $9.7M | $3.0M | $58.8M | $3.2M | $3.4M |
| Short-term investments | — | $0 | $0 | $40.1M | $5.5M | $4.2M | $13.8M | $34.3M | $20.8M | $108,492 | $120,669 | $93,872 |
| Receivables | $61.6M | $51.3M | $57.1M | $40.1M | $51.8M | $44.9M | $38.6M | $36.6M | $44.9M | $33.8M | $51.8M | $29.6M |
| Inventory | $75.7M | $50.6M | $34.5M | $37.4M | $30.8M | $22.9M | $23.9M | $31.2M | $28.3M | $34.8M | $37.5M | $41.8M |
| Other current assets | $91.8M | $70.4M | $55.6M | $20.1M | $51.0M | $62.7M | $43.7M | $11.6M | $33.2M | $1.0M | $43.8M | $45.4M |
| Total current assets | $238.4M | $180.6M | $157.7M | $143.4M | $143.2M | $141.4M | $130.5M | $123.4M | $130.2M | $128.4M | $136.3M | $120.4M |
| Property, plant & equipment (net) | $220.8M | $214.2M | $175.3M | $158.8M | $138.7M | $131.3M | $132.1M | $126.1M | $129.8M | $130.5M | $94.5M | $126.7M |
| Goodwill & intangible assets | $12.5M | $12.4M | $12.3M | $12.4M | $11.3M | $11.5M | $12.1M | $599,350 | $12.2M | $12.6M | $936,062 | $1.0M |
| Long-term investments | $19.3M | $19.0M | $18.6M | $18.5M | $18.3M | $18.1M | $18.8M | $18.2M | $2.5M | $2.6M | $897,635 | $900,334 |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $11.3M | $11.9M | $7.1M | $54.2M | $3.1M |
| Total assets | $491.0M | $426.2M | $363.9M | $333.1M | $311.5M | $302.2M | $293.5M | $279.6M | $286.5M | $281.2M | $286.8M | $252.2M |
| Liabilities | ||||||||||||
| Accounts payable | $86.3M | $60.0M | $48.9M | $37.2M | $35.3M | $26.3M | $33.9M | $32.2M | $32.0M | $82.8M | $39.6M | $76.0M |
| Short-term debt | $41.0M | $31.5M | $31.3M | $35.5M | $30.8M | $27.7M | $28.3M | $37.8M | $39.2M | $35.3M | $33.9M | $27.6M |
| Deferred revenue | $35.1M | $29.2M | $19.3M | $19.5M | $14.6M | $12.2M | $4.4M | $3.6M | $5.0M | $784,000 | $366,171 | $367,271 |
| Total current liabilities | $368.2M | $299.8M | $228.0M | $199.4M | $175.5M | $171.7M | $154.2M | $144.6M | $156.1M | $160.5M | $161.3M | $131.9M |
| Long-term debt | $7.7M | $4.1M | $4.8M | $4.9M | $4.1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $5.6M | $4.7M | $3.3M | $3.5M | $3.6M | $3.7M | $5.0M | $4.7M | $5.5M | $2.8M | $828,714 | $1.0M |
| Other long-term liabilities | $12.9M | $12.7M | $12.6M | $13.0M | $13.1M | $10.4M | $8.9M | $8.5M | $9.2M | $997,875 | $6.0M | $6.1M |
| Total liabilities | $388.8M | $316.7M | $245.4M | $217.3M | $192.7M | $182.2M | $163.1M | $153.1M | $165.2M | $161.5M | $167.3M | $138.0M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $88,646 | $88,646 | $88,646 | $90,099 | $90,083 | $90,083 | $90,083 | $90,083 | $90,063 | $90,063 | $89,611 | $89,151 |
| Retained earnings (deficit) | −$143.1M | −$133.8M | −$126.4M | −$129.1M | −$126.0M | −$122.6M | −$118.1M | −$118.1M | −$124.6M | −$134.4M | −$129.6M | −$134.7M |
| Treasury stock | — | — | — | — | — | — | — | — | — | — | — | −$4.1M |
| Accumulated other comprehensive income | −$8.3M | −$10.1M | −$8.7M | −$9.5M | −$11.2M | −$13.7M | −$8.6M | −$13.1M | −$12.3M | −$10.4M | −$13.1M | −$13.8M |
| Minority interest | −$3.0M | −$3.2M | −$3.0M | −$2.4M | −$2.0M | — | — | — | — | — | — | $5.5M |
| Total shareholders' equity | $105.2M | $112.7M | $121.4M | $118.2M | $120.8M | $121.7M | $131.2M | $126.6M | $120.9M | $112.8M | $114.6M | $108.7M |
| Key figures | ||||||||||||
| Total debt | $51.0M | $37.7M | $38.0M | $42.6M | $37.3M | $30.1M | $31.0M | $40.2M | $41.9M | $35.7M | $34.4M | $28.2M |
| Net cash (debt) | −$41.7M | −$29.4M | −$27.5M | $3.2M | −$27.7M | −$19.2M | −$6.8M | $3.9M | −$18.1M | $23.1M | −$31.2M | −$24.6M |
| Working capital | −$129.8M | −$119.2M | −$70.3M | −$56.0M | −$32.3M | −$30.3M | −$23.8M | −$21.2M | −$25.9M | −$32.1M | −$25.0M | −$11.5M |
| Tangible book value | $92.7M | $100.3M | $109.1M | $105.8M | $109.5M | $110.2M | $119.1M | $126.0M | $108.7M | $100.3M | $113.7M | $107.6M |
| Book value per share | $1.18 | $1.26 | $1.35 | $1.32 | $1.34 | $1.35 | $1.45 | $1.40 | $1.34 | $1.26 | $1.27 | $1.22 |
| Shares outstanding | 89.2M | 89.2M | 89.7M | 89.8M | 89.9M | 89.9M | 90.2M | 90.1M | 90.1M | 89.2M | 89.9M | 89.0M |
| Current ratio | 0.65 | 0.60 | 0.69 | 0.72 | 0.82 | 0.82 | 0.85 | 0.85 | 0.83 | 0.80 | 0.84 | 0.91 |
| Quick ratio | 0.19 | 0.20 | 0.30 | 0.43 | 0.35 | 0.33 | 0.41 | 0.56 | 0.44 | 0.58 | 0.34 | 0.25 |
| Debt / equity | 0.49 | 0.33 | 0.31 | 0.36 | 0.31 | 0.25 | 0.24 | 0.32 | 0.35 | 0.32 | 0.30 | 0.26 |
| Equity / assets | 21.4% | 26.4% | 33.4% | 35.5% | 38.8% | 40.3% | 44.7% | 45.3% | 42.2% | 40.1% | 40.0% | 43.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
CBAT financial position
At the end of fiscal 2025 (December 31, 2025), CBAK Energy Technology had total assets of $426.2 million (up 41.0% from a year earlier), total liabilities of $316.7 million and shareholders' equity of $112.7 million. It held $8.3 million in cash and short-term investments against $37.7 million of debt, net debt of $29.4 million. Its current ratio was 0.60. In the latest quarter (ended March 31, 2026) total assets were $491.0 million and equity $105.2 million.
Related: CBAT income statement, CBAT cash flow statement, CBAT key metrics. See the CBAT stock overview for the latest quote and news.
CBAT balance sheet FAQ
What are CBAK Energy Technology's total assets?
CBAK Energy Technology reported total assets of $426.2 million at the end of fiscal 2025 (December 31, 2025), compared with $302.2 million a year earlier.
How much debt does CBAK Energy Technology have?
CBAK Energy Technology had $37.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.33.
How much cash does CBAK Energy Technology have?
CBAK Energy Technology held $8.3 million in cash and short-term investments at the end of fiscal 2025; with $37.7 million of debt that is net debt of $29.4 million.
What is CBAK Energy Technology's book value?
CBAK Energy Technology's shareholders' equity (book value) was $112.7 million at the end of fiscal 2025, or $1.26 per share.
What is CBAK Energy Technology's current ratio?
CBAK Energy Technology had current assets of $180.6 million and current liabilities of $299.8 million, a current ratio of 0.60 (current liabilities exceed current assets).
How much goodwill does CBAK Energy Technology have?
CBAK Energy Technology carried $71.7 million of goodwill and intangible assets, 16.8% of total assets, at the end of fiscal 2025.