Cerus Corporation (CERS) Balance Sheet
CERS balance sheet, 2025
December 31, 2025 · U.S. dollars$221.9M assets = $156.9M liabilities + $65.0M equity
Both columns are drawn to the same scale: what CERS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CERS financial health
Current ratio1.73
Comfortable · current assets cover current liabilities 1.73×
Debt / equity1.51
High leverage · $1.51 of debt for each $1 of equity
Equity / assets28.9%
Balanced · of assets funded by shareholders
Cash / debt85.5%
Partial cover · cash & short-term investments vs total debt
Goodwill & intangibles0.6%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
CERS balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $103.5M2016 | $221.9M2025 | +8.8%/yr | |
| Total liabilities | $45.7M2016 | $156.9M2025 | +14.7%/yr | |
| Shareholders’ equity | $57.8M2016 | $64.2M2025 | +1.2%/yr | |
| Cash & short-term investments | $71.6M2016 | $82.9M2025 | +1.6%/yr | |
| Total debt | $19.4M2016 | $96.9M2025 | +19.6%/yr | |
| Net cash (debt) | $52.3M2016 | −$14.1M2025 | −$66.3M | |
| Working capital | $67.2M2016 | $73.6M2025 | +$6.4M | |
| Book value per share | $0.572016 | $0.342025 | −5.6%/yr | |
| Current ratio | 3.502016 | 1.732025 | −1.77 | |
| Debt / equity | 0.342016 | 1.512025 | +1.17 | |
| Shares outstanding | 101.8M2016 | 190.6M2025 | +7.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CERS assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
CERS liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
CERS debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CERS balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $82.9M | $80.5M | $65.9M | $102.2M | $129.4M | $133.6M | $85.7M | $117.6M | $60.7M | $71.6M |
| Cash & equivalents | $20.0M | $20.3M | $11.6M | $35.6M | $48.8M | $36.6M | $35.0M | $28.9M | $13.7M | $22.6M |
| Short-term investments | $62.9M | $60.2M | $54.2M | $66.6M | $80.6M | $97.0M | $50.7M | $88.7M | $47.0M | $49.1M |
| Receivables | $30.4M | $29.8M | $35.5M | $34.4M | $25.1M | $21.2M | $16.9M | $8.8M | $12.4M | $6.9M |
| Inventory | $56.1M | $38.1M | $39.9M | $29.0M | $26.8M | $23.3M | $19.5M | $13.5M | $14.5M | $12.5M |
| Other current assets | $5.0M | $3.6M | $3.2M | $4.6M | $5.8M | $5.4M | $6.0M | $7.0M | $2.3M | $3.1M |
| Total current assets | $174.4M | $152.0M | $144.4M | $170.1M | $187.1M | $183.4M | $128.1M | $146.9M | $89.9M | $94.1M |
| Property, plant & equipment (net) | $19.3M | $15.5M | $19.4M | $23.5M | $25.2M | $27.0M | $29.0M | $8.1M | $2.1M | $3.0M |
| Goodwill & intangible assets | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.4M | $1.6M | $1.9M | $2.1M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $26.8M | $32.0M | $32.6M | $23.2M | $23.9M | $9.7M | $7.0M | $6.8M | $4.4M | $4.3M |
| Total assets | $221.9M | $200.9M | $197.7M | $218.1M | $237.5M | $221.4M | $165.5M | $163.5M | $98.2M | $103.5M |
| Liabilities | ||||||||||
| Accounts payable | $28.0M | $21.7M | $23.8M | $33.0M | $35.6M | $24.2M | $22.2M | $18.6M | $22.7M | $8.6M |
| Short-term debt | $46.2M | $21.6M | $22.5M | $58.3M | $16.6M | $10.4M | $6.6M | $7.9M | $11.7M | $6.9M |
| Deferred revenue | $1.3M | $1.4M | $2.0M | $589,000 | $673,000 | $577,000 | $570,000 | $498,000 | $445,000 | $149,000 |
| Total current liabilities | $100.8M | $63.6M | $67.5M | $117.1M | $78.6M | $60.0M | $50.3M | $52.7M | $23.1M | $26.9M |
| Long-term debt | $40.5M | $64.9M | $59.8M | $13.6M | $54.7M | $39.6M | $39.4M | $22.0M | $29.8M | $12.4M |
| Lease obligations | $13.1M | $13.9M | $16.2M | $17.4M | $18.2M | $18.8M | $20.0M | — | — | — |
| Other long-term liabilities | $15.5M | $15.6M | $17.0M | $18.8M | $18.6M | $18.0M | $18.7M | $4.2M | $6.4M | $6.4M |
| Total liabilities | $156.9M | $144.0M | $144.3M | $149.5M | $151.9M | $117.6M | $108.5M | $78.9M | $59.3M | $45.7M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $192,000 | $186,000 | $181,000 | $177,000 | $174,000 | $168,000 | $144,000 | $136,000 | $115,000 | $103,000 |
| Retained earnings (deficit) | −$1.08B | −$1.07B | −$1.04B | −$1.01B | −$964.3M | −$910.0M | −$850.1M | −$778.9M | −$721.3M | −$660.7M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$156,000 | −$400,000 | −$1.3M | −$2.8M | −$149,000 | $674,000 | $114,000 | −$281,000 | −$97,000 | $103,000 |
| Minority interest | $741,000 | $751,000 | $794,000 | $952,000 | $998,000 | — | — | — | $0 | $0 |
| Total shareholders' equity | $64.2M | $56.1M | $52.6M | $67.6M | $84.6M | $103.8M | $57.1M | $84.5M | $38.9M | $57.8M |
| Key figures | ||||||||||
| Total debt | $96.9M | $98.1M | $96.0M | $87.2M | $87.6M | $66.9M | $64.5M | $29.9M | $41.5M | $19.4M |
| Net cash (debt) | −$14.1M | −$17.6M | −$30.1M | $14.9M | $41.8M | $66.7M | $21.3M | $87.7M | $19.2M | $52.3M |
| Working capital | $73.6M | $88.4M | $76.9M | $53.1M | $108.5M | $123.5M | $77.8M | $94.2M | $66.8M | $67.2M |
| Tangible book value | $62.9M | $54.8M | $51.3M | $66.3M | $83.3M | $102.5M | $55.6M | $82.9M | $37.1M | $55.7M |
| Book value per share | $0.34 | $0.30 | $0.29 | $0.38 | $0.49 | $0.63 | $0.41 | $0.64 | $0.36 | $0.57 |
| Shares outstanding | 190.6M | 184.6M | 180.3M | 176.5M | 171.3M | 163.9M | 139.8M | 131.7M | 108.2M | 101.8M |
| Current ratio | 1.73 | 2.39 | 2.14 | 1.45 | 2.38 | 3.06 | 2.55 | 2.79 | 3.89 | 3.50 |
| Quick ratio | 1.12 | 1.73 | 1.50 | 1.17 | 1.97 | 2.58 | 2.04 | 2.40 | 3.16 | 2.92 |
| Debt / equity | 1.51 | 1.75 | 1.82 | 1.29 | 1.04 | 0.64 | 1.13 | 0.35 | 1.07 | 0.34 |
| Equity / assets | 28.9% | 27.9% | 26.6% | 31.0% | 35.6% | 46.9% | 34.5% | 51.7% | 39.6% | 55.8% |
| 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 | $56.3M | $80.4M | $82.9M | $78.5M | $78.0M | $80.9M | $80.5M | $75.6M | $71.2M | $72.2M | $65.9M | $79.0M |
| Cash & equivalents | $18.0M | $27.9M | $20.0M | $15.7M | $16.0M | $19.5M | $20.3M | $21.6M | $12.4M | $20.5M | $11.6M | $17.4M |
| Short-term investments | $38.3M | $52.6M | $62.9M | $62.8M | $62.0M | $61.4M | $60.2M | $54.0M | $58.8M | $51.7M | $54.2M | $61.6M |
| Receivables | $31.0M | $29.3M | $30.4M | $29.8M | $31.4M | $26.3M | $29.8M | $24.4M | $23.7M | $22.5M | $35.5M | $24.5M |
| Inventory | $65.8M | $61.1M | $56.1M | $53.1M | $54.5M | $48.2M | $38.1M | $36.5M | $36.3M | $39.9M | $39.9M | $42.7M |
| Other current assets | $4.3M | $4.5M | $5.0M | $5.7M | $4.6M | $6.1M | $3.6M | $4.1M | $3.8M | $3.6M | $3.2M | $4.7M |
| Total current assets | $157.3M | $175.3M | $174.4M | $167.1M | $168.5M | $161.5M | $152.0M | $140.6M | $135.0M | $138.2M | $144.4M | $150.9M |
| Property, plant & equipment (net) | $18.3M | $18.7M | $19.3M | $14.7M | $15.6M | $16.1M | $15.5M | $16.4M | $17.4M | $18.3M | $19.4M | $20.3M |
| Goodwill & intangible assets | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $28.2M | $27.6M | $26.8M | $32.1M | $27.7M | $27.8M | $32.0M | $31.2M | $31.8M | $31.3M | $32.6M | $33.3M |
| Total assets | $205.2M | $222.9M | $221.9M | $215.2M | $213.1M | $206.8M | $200.9M | $189.5M | $185.5M | $189.1M | $197.7M | $205.8M |
| Liabilities | ||||||||||||
| Accounts payable | $33.5M | $31.8M | $28.0M | $25.5M | $30.5M | $27.7M | $21.7M | $15.9M | $16.7M | $16.6M | $23.8M | $38.5M |
| Short-term debt | $33.3M | $55.5M | $46.2M | $38.9M | $30.7M | $22.6M | $21.6M | $20.8M | $21.0M | $22.3M | $20.0M | $21.0M |
| Deferred revenue | $1.6M | $1.7M | $1.3M | $2.3M | $2.2M | $2.4M | $1.4M | $1.8M | $1.1M | $2.2M | $2.0M | $936,000 |
| Total current liabilities | $85.8M | $107.4M | $100.8M | $88.4M | $84.4M | $69.7M | $63.6M | $54.3M | $53.9M | $57.2M | $67.5M | $80.1M |
| Long-term debt | $34.8M | $32.4M | $40.5M | $48.7M | $56.8M | $64.9M | $64.9M | $64.8M | $64.8M | $64.8M | $59.8M | $59.8M |
| Lease obligations | $11.9M | $12.5M | $13.1M | $13.3M | $14.0M | $14.5M | $13.9M | $14.5M | $15.1M | $15.7M | $16.2M | $16.4M |
| Other long-term liabilities | $13.9M | $14.8M | $15.5M | $15.9M | $15.8M | $16.0M | $15.6M | $16.1M | $16.5M | $16.9M | $17.0M | $16.9M |
| Total liabilities | $134.5M | $154.6M | $156.9M | $153.0M | $156.9M | $150.5M | $144.0M | $135.3M | $135.2M | $139.0M | $144.3M | $156.8M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $201,000 | $200,000 | $192,000 | $192,000 | $191,000 | $191,000 | $186,000 | $185,000 | $185,000 | $185,000 | $181,000 | $181,000 |
| Retained earnings (deficit) | −$1.09B | −$1.08B | −$1.08B | −$1.08B | −$1.08B | −$1.07B | −$1.07B | −$1.06B | −$1.06B | −$1.05B | −$1.04B | −$1.04B |
| Accumulated other comprehensive income | −$383,000 | −$323,000 | −$156,000 | −$174,000 | −$273,000 | −$266,000 | −$400,000 | −$104,000 | −$867,000 | −$1.1M | −$1.3M | −$2.2M |
| Minority interest | $691,000 | $733,000 | $741,000 | $741,000 | $742,000 | — | — | — | — | — | — | — |
| Total shareholders' equity | $70.0M | $67.6M | $64.2M | $61.5M | $55.4M | $55.5M | $56.1M | $53.5M | $49.5M | $49.4M | $52.6M | $48.2M |
| Key figures | ||||||||||||
| Total debt | $76.8M | $97.4M | $96.9M | $98.2M | $98.9M | $99.4M | $98.1M | $97.9M | $98.7M | $100.6M | $93.5M | $94.9M |
| Net cash (debt) | −$20.5M | −$16.9M | −$14.1M | −$19.7M | −$20.9M | −$18.5M | −$17.6M | −$22.3M | −$27.5M | −$28.4M | −$27.7M | −$15.9M |
| Working capital | $71.5M | $68.0M | $73.6M | $78.7M | $84.2M | $91.8M | $88.4M | $86.3M | $81.1M | $80.9M | $76.9M | $70.8M |
| Tangible book value | $68.7M | $66.2M | $62.9M | $60.1M | $54.1M | $54.2M | $54.8M | $52.2M | $48.2M | $48.1M | $51.3M | $46.9M |
| Book value per share | $0.35 | $0.35 | $0.33 | $0.32 | $0.29 | $0.30 | $0.30 | $0.29 | $0.27 | $0.27 | $0.29 | $0.27 |
| Shares outstanding | 200.6M | 194.1M | 192.1M | 191.8M | 191.3M | 187.1M | 184.6M | 185.4M | 185.0M | 182.1M | 181.2M | 180.9M |
| Current ratio | 1.83 | 1.63 | 1.73 | 1.89 | 2.00 | 2.32 | 2.39 | 2.59 | 2.51 | 2.41 | 2.14 | 1.88 |
| Quick ratio | 1.02 | 1.02 | 1.12 | 1.22 | 1.30 | 1.54 | 1.73 | 1.84 | 1.76 | 1.65 | 1.50 | 1.29 |
| Debt / equity | 1.10 | 1.44 | 1.51 | 1.60 | 1.78 | 1.79 | 1.75 | 1.83 | 1.99 | 2.04 | 1.78 | 1.97 |
| Equity / assets | 34.1% | 30.3% | 28.9% | 28.6% | 26.0% | 26.8% | 27.9% | 28.2% | 26.7% | 26.1% | 26.6% | 23.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 2, 2026); data from EODHD.
CERS financial position
At the end of fiscal 2025 (December 31, 2025), Cerus had total assets of $221.9 million (up 10.4% from a year earlier), total liabilities of $156.9 million and shareholders' equity of $64.2 million. It held $82.9 million in cash and short-term investments against $96.9 million of debt, net debt of $14.1 million. Its current ratio was 1.73. In the latest quarter (ended June 30, 2026) total assets were $205.2 million and equity $70.0 million.
Related: CERS income statement, CERS cash flow statement, CERS key metrics. See the CERS stock overview for the latest quote and news.
CERS balance sheet FAQ
What are Cerus's total assets?
Cerus reported total assets of $221.9 million at the end of fiscal 2025 (December 31, 2025), compared with $200.9 million a year earlier.
How much debt does Cerus have?
Cerus had $96.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.51.
How much cash does Cerus have?
Cerus held $82.9 million in cash and short-term investments at the end of fiscal 2025; with $96.9 million of debt that is net debt of $14.1 million.
What is Cerus's book value?
Cerus's shareholders' equity (book value) was $64.2 million at the end of fiscal 2025, or $0.34 per share.
What is Cerus's current ratio?
Cerus had current assets of $174.4 million and current liabilities of $100.8 million, a current ratio of 1.73 (it can cover its short-term obligations).
How much goodwill does Cerus have?
Cerus carried $1.3 million of goodwill and intangible assets, 0.6% of total assets, at the end of fiscal 2025.