Central Securities Corp. (CET) Balance Sheet
CET balance sheet, 2025
December 31, 2025 · U.S. dollars$1.79B assets = $3.1M liabilities + $1.79B equity
Both columns are drawn to the same scale: what CET owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CET financial health
Descriptive bands, not a rating. Fiscal 2025.
CET balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $674.8M2016 | $1.79B2025 | +11.5%/yr | |
| Total liabilities | $150,0002016 | $3.1M2025 | +40.2%/yr | |
| Shareholders’ equity | $674.7M2016 | $1.79B2025 | +11.4%/yr | |
| Cash & short-term investments | $2.5M2016 | $57.2M2025 | +41.6%/yr | |
| Total debt | $02016 | $2.7M2025 | — | |
| Net cash (debt) | $2.5M2016 | $54.5M2025 | +$52.0M | |
| Working capital | $3.0M2016 | $1.2M2022 | −$1.8M | |
| Book value per share | $27.122016 | $61.682025 | +9.6%/yr | |
| Debt / equity | 0.002016 | 0.002025 | 0.00 | |
| Shares outstanding | 24.9M2016 | 29.0M2025 | +1.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CET assets
CET liabilities and equity
CET debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CET balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $57.2M | $90.9M | $82.4M | $641,277 | $612,861 | $28.9M | $660,845 | $230,919 | $2.7M | $2.5M |
| Cash & equivalents | $49,910 | $267,953 | $895,639 | $641,277 | $612,861 | $970,842 | $660,845 | $230,919 | $2.7M | $2.5M |
| Short-term investments | $57.2M | $90.6M | $81.5M | $87.1M | $16.3M | $27.9M | $66.1M | $50.6M | $55.0M | $45.0M |
| Receivables | $836,208 | $2.7M | $954,643 | $908,904 | $692,482 | $640,683 | $418,260 | $410,246 | $467,900 | $604,500 |
| Inventory | $0 | $0 | $83.4M | $88.7M | $17.6M | $29.6M | $67.2M | $51.2M | $58.1M | $48.1M |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $58.1M | $90.9M | $1.9M | $1.6M | $1.3M | $1.6M | $1.1M | $641,165 | $3.1M | $3.1M |
| Property, plant & equipment (net) | $3.1M | $3.5M | $3.9M | $2.7M | $197,874 | $584,839 | $960,382 | $0 | $0 | $11,539 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $1.79B | $1.57B | $1.32B | $1.13B | $1.33B | $1.03B | $993.5M | $764.7M | $824.3M | $671.6M |
| Other non-current assets | $0 | $0 | $122,758 | $223,665 | $123,480 | $116,888 | $125,468 | $94,658 | $81,971 | $66,858 |
| Total assets | $1.79B | $1.57B | $1.32B | $1.14B | $1.33B | $1.04B | $995.7M | $765.5M | $827.5M | $674.8M |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | — | — | — | — | $0 | $990,062 | $0 |
| Short-term debt | — | — | — | — | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | — | — | — | $341,204 | $564,618 | $542,499 | $553,408 | $118,925 | $990,062 | $150,001 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Other long-term liabilities | $3.1M | $3.4M | $3.2M | $3.0M | $197,874 | $584,839 | $960,382 | $118,925 | $1.1M | $150,000 |
| Total liabilities | $3.1M | $3.4M | $3.4M | $3.0M | $197,874 | $584,839 | $960,382 | $118,925 | $1.1M | $150,000 |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $29.5M | $28.9M | $28.4M | $28.0M | $27.3M | $26.2M | $25.9M | $25.6M | $25.1M | $24.9M |
| Retained earnings (deficit) | $1.26B | $1.07B | $845.4M | $672.8M | $897.7M | $642.1M | $611.9M | $395.3M | $600,181 | $382,089 |
| Treasury stock | — | — | — | — | — | — | — | −$1.8M | $0 | $0 |
| Accumulated other comprehensive income | $1.26B | — | $845.4M | $672.8M | $897.7M | — | — | $0 | $465.3M | $321.2M |
| Minority interest | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Total shareholders' equity | $1.79B | $1.57B | $1.32B | $1.13B | $1.33B | $1.04B | $994.6M | $765.3M | $826.3M | $674.7M |
| Key figures | ||||||||||
| Total debt | $2.7M | $2.9M | $3.2M | $2.9M | $197,874 | $584,839 | $960,382 | $0 | $0 | $0 |
| Net cash (debt) | $54.5M | $87.9M | $79.3M | −$2.3M | $414,987 | $28.3M | −$299,537 | $230,919 | $2.7M | $2.5M |
| Working capital | — | — | — | $1.2M | $740,725 | $1.1M | $525,697 | $522,240 | $2.1M | $3.0M |
| Tangible book value | $1.79B | $1.57B | $1.32B | $1.13B | $1.33B | $1.04B | $994.6M | $765.3M | $826.3M | $674.7M |
| Book value per share | $61.68 | $55.30 | $46.49 | $41.48 | $48.87 | $39.49 | $38.42 | $30.02 | $32.86 | $27.12 |
| Shares outstanding | 29.0M | 28.4M | 28.4M | 27.3M | 27.3M | 26.2M | 25.9M | 25.5M | 25.1M | 24.9M |
| Current ratio | — | — | — | 4.54 | 2.31 | 2.97 | 1.95 | 5.39 | 3.16 | 20.73 |
| Quick ratio | — | — | — | 4.54 | 2.31 | 54.47 | 1.95 | 5.39 | 3.16 | 20.73 |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Equity / assets | 99.8% | 99.8% | 99.7% | 99.7% | 100.0% | 99.9% | 99.9% | 100.0% | 99.9% | 100.0% |
| Jun '26 | Dec '25 | Jun '25 | Dec '24 | Jun '24 | Dec '23 | Jun '23 | Dec '22 | Jun '22 | |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Cash & short-term investments | $87.0M | $57.2M | $118,588 | $90.9M | $93.9M | $82.4M | $76,425 | $641,277 | $511,197 |
| Cash & equivalents | $17,676 | $49,910 | $118,588 | $267,953 | $433,225 | $895,639 | $76,425 | $641,277 | $511,197 |
| Short-term investments | $87.0M | $57.2M | $98.8M | $90.6M | $93.4M | $81.5M | $113.4M | $87.1M | $59.9M |
| Receivables | $814,406 | $836,208 | $907,603 | $2.7M | $673,204 | $954,643 | $760,572 | $908,904 | $868,255 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $83.4M | $114.2M | $88.7M | $96.2M |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $87.8M | $58.1M | $1.0M | $90.9M | $1.1M | $1.9M | $836,997 | $1.6M | $1.4M |
| Property, plant & equipment (net) | $2.9M | $3.1M | $3.3M | $3.5M | $3.8M | $3.9M | $3.2M | $2.7M | $2.8M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $1.84B | $1.79B | $1.67B | $1.57B | $1.49B | $1.32B | $1.24B | $1.13B | $1.10B |
| Other non-current assets | $0 | $0 | $119,778 | $0 | $114,927 | $122,758 | $115,707 | $223,665 | $121,604 |
| Total assets | $1.84B | $1.79B | $1.67B | $1.57B | $1.50B | $1.32B | $1.24B | $1.14B | $1.11B |
| Liabilities | |||||||||
| Short-term debt | — | — | — | — | — | — | — | — | $0 |
| Total current liabilities | — | — | — | — | — | — | $1.1M | $341,204 | $991,535 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $3.9M | $3.1M | $4.4M | $3.4M | $4.5M | $3.2M | $3.0M | $3.0M | $3.8M |
| Total liabilities | $3.9M | $3.1M | $4.4M | $3.4M | $4.5M | $3.2M | $3.0M | $3.0M | $3.8M |
| Shareholders' equity | |||||||||
| Common stock & paid-in capital | $29.5M | $29.5M | $28.9M | $28.9M | $28.4M | $28.4M | $28.0M | $28.0M | $27.3M |
| Retained earnings (deficit) | $1.31B | $1.26B | $1.17B | $1.07B | $1.02B | $845.4M | $776.3M | $672.8M | $667.2M |
| Accumulated other comprehensive income | $1.31B | $1.26B | — | $1.07B | $1.02B | $845.4M | $776.3M | $672.8M | $667.2M |
| Total shareholders' equity | $1.84B | $1.79B | $1.67B | $1.57B | $1.49B | $1.32B | $1.24B | $1.13B | $1.10B |
| Key figures | |||||||||
| Total debt | $2.6M | $5.5M | $2.8M | $2.9M | $3.1M | $3.2M | $3.0M | $2.9M | $2.8M |
| Net cash (debt) | $84.4M | $51.8M | −$2.7M | $87.9M | $90.8M | $79.3M | −$2.9M | −$2.3M | −$2.3M |
| Working capital | — | — | — | — | — | — | −$263,024 | $1.2M | $387,917 |
| Tangible book value | $1.84B | $1.79B | $1.67B | $1.57B | $1.49B | $1.32B | $1.24B | $1.13B | $1.10B |
| Book value per share | $62.11 | $61.58 | $57.63 | $54.26 | $52.58 | $46.49 | $44.18 | $40.48 | $40.42 |
| Shares outstanding | 29.5M | 29.0M | 28.9M | 28.9M | 28.4M | 28.4M | 28.0M | 28.0M | 27.3M |
| Current ratio | — | — | — | — | — | — | 0.76 | 4.54 | 1.39 |
| Quick ratio | — | — | — | — | — | — | 0.76 | 4.54 | 1.39 |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Equity / assets | 99.8% | 99.8% | 99.7% | 99.8% | 99.7% | 99.7% | 99.7% | 99.7% | 99.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
CET financial position
At the end of fiscal 2025 (December 31, 2025), Central Securities had total assets of $1.8 billion (up 13.8% from a year earlier), total liabilities of $3.1 million and shareholders' equity of $1.8 billion. It held $57.2 million in cash and short-term investments against $2.7 million of debt, a net cash position of $54.5 million. In the latest quarter (ended June 30, 2026) total assets were $1.8 billion and equity $1.8 billion.
Related: CET income statement, CET cash flow statement, CET key metrics. See the CET stock overview for the latest quote and news.
CET balance sheet FAQ
What are Central Securities's total assets?
Central Securities reported total assets of $1.8 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.6 billion a year earlier.
How much debt does Central Securities have?
Central Securities had $2.7 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.00.
How much cash does Central Securities have?
Central Securities held $57.2 million in cash and short-term investments at the end of fiscal 2025; with $2.7 million of debt that is net cash of $54.5 million.
What is Central Securities's book value?
Central Securities's shareholders' equity (book value) was $1.8 billion at the end of fiscal 2025, or $61.68 per share.