Coursera, Inc. (COUR) Balance Sheet
COUR balance sheet, 2025
December 31, 2025 · U.S. dollars$1.00B assets = $364.3M liabilities + $635.7M equity
Both columns are drawn to the same scale: what COUR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
COUR financial health
Descriptive bands, not a rating. Fiscal 2025.
COUR balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $236.3M2019 | $1.00B2025 | +27.2%/yr | |
| Total liabilities | $423.3M2019 | $364.3M2025 | −2.5%/yr | |
| Shareholders’ equity | −$187.0M2019 | $635.7M2025 | — | |
| Cash & short-term investments | $173.6M2019 | $792.6M2025 | +28.8%/yr | |
| Total debt | $21.6M2019 | $5.0M2025 | −21.7%/yr | |
| Net cash (debt) | $151.9M2019 | $787.6M2025 | +$635.7M | |
| Working capital | $115.9M2019 | $540.2M2025 | +$424.3M | |
| Book value per share | $1.812020 | $3.882025 | +16.4%/yr | |
| Current ratio | 2.402019 | 2.512025 | +0.11 | |
| Debt / equity | 0.112020 | 0.012025 | −0.10 | |
| Shares outstanding | 132.6M2020 | 163.8M2025 | +4.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
COUR assets
COUR liabilities and equity
COUR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
COUR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $792.6M | $727.7M | $722.1M | $781.0M | $821.8M | $285.3M | $173.6M |
| Cash & equivalents | $792.6M | $727.7M | $656.3M | $321.3M | $580.7M | $79.9M | $56.8M |
| Short-term investments | — | $0 | $65.7M | $459.7M | $241.1M | $205.4M | $116.8M |
| Receivables | $65.4M | $59.7M | $67.4M | $53.7M | $34.4M | $40.7M | $16.7M |
| Inventory | $0 | $0 | $1 | $24.1M | $19.7M | $14.1M | $7.7M |
| Other current assets | $40.1M | $18.6M | $16.6M | $0 | $0 | $916,000 | $943,000 |
| Total current assets | $898.1M | $806.0M | $806.1M | $851.8M | $872.7M | $341.0M | $198.8M |
| Property, plant & equipment (net) | $43.4M | $39.9M | $35.1M | $36.7M | $41.0M | $40.3M | $14.0M |
| Goodwill & intangible assets | $27.1M | $24.5M | $11.7M | $8.6M | $10.1M | $10.6M | $8.1M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $31.4M | $59.9M | $67.6M | $50.5M | $35.1M | $25.8M | $15.3M |
| Total assets | $1.00B | $930.3M | $920.5M | $947.6M | $958.9M | $417.6M | $236.3M |
| Liabilities | |||||||
| Accounts payable | $129.8M | $123.2M | $124.5M | $89.7M | $72.5M | $51.9M | $26.4M |
| Short-term debt | — | $43,000 | $6.6M | $8.7M | $8.0M | $7.9M | $21.6M |
| Deferred revenue | $180.9M | $159.7M | $137.2M | $115.7M | $94.6M | $76.1M | $39.2M |
| Total current liabilities | $357.9M | $327.5M | $298.3M | $242.4M | $201.1M | $153.6M | $83.0M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | $3.1M | $6.6M | $14.4M | $19.9M | $26.2M | $0 |
| Other long-term liabilities | $6.4M | $5.4M | $6.1M | $10.6M | $16.3M | $23.5M | $340.3M |
| Total liabilities | $364.3M | $332.9M | $304.3M | $253.0M | $217.4M | $177.2M | $423.3M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $1.55B | $2,000 | $2,000 | $1,000 | $1,000 | $1,000 | — |
| Retained earnings (deficit) | −$911.2M | −$860.2M | −$780.7M | −$664.1M | −$488.8M | −$343.6M | −$276.7M |
| Treasury stock | — | — | — | −$4.7M | −$4.7M | — | — |
| Accumulated other comprehensive income | — | $0 | $59,000 | −$718,000 | −$252,000 | $20,000 | $74,000 |
| Total shareholders' equity | $635.7M | $597.4M | $616.2M | $694.6M | $741.5M | $240.5M | −$187.0M |
| Key figures | |||||||
| Total debt | $5.0M | $3.1M | $6.6M | $14.4M | $19.9M | $26.2M | $21.6M |
| Net cash (debt) | $787.6M | $724.6M | $715.5M | $766.5M | $801.9M | $259.0M | $151.9M |
| Working capital | $540.2M | $478.5M | $507.8M | $609.4M | $671.5M | $187.3M | $115.9M |
| Tangible book value | $608.6M | $572.9M | $604.5M | $686.0M | $731.4M | $229.9M | −$195.1M |
| Book value per share | $3.88 | $3.80 | $4.08 | $4.78 | $6.53 | $1.81 | — |
| Shares outstanding | 163.8M | 157.4M | 151.0M | 145.3M | 113.6M | 132.6M | — |
| Current ratio | 2.51 | 2.46 | 2.70 | 3.51 | 4.34 | 2.22 | 2.40 |
| Quick ratio | 2.40 | 2.40 | 2.65 | 3.44 | 4.26 | 2.12 | 2.29 |
| Debt / equity | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 | 0.11 | — |
| Equity / assets | 63.6% | 64.2% | 66.9% | 73.3% | 77.3% | 57.6% | −79.1% |
| 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 | $982.2M | $789.8M | $792.6M | $797.7M | $775.1M | $748.0M | $727.7M | $721.0M | $710.3M | $726.9M | $722.1M | $721.2M |
| Cash & equivalents | $871.7M | $789.8M | $792.6M | $797.7M | $775.1M | $748.0M | $727.7M | $721.0M | $710.3M | $726.9M | $656.3M | $507.2M |
| Short-term investments | $110.5M | — | — | — | — | — | $0 | $0 | $0 | $0 | $65.7M | $214.0M |
| Receivables | $158.8M | $60.0M | $65.4M | $58.7M | $67.2M | $59.9M | $59.7M | $47.6M | $57.7M | $58.3M | $67.4M | $62.1M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $1 | $1 | $26.4M |
| Other current assets | $80.4M | $43.6M | $40.1M | $20.6M | $19.4M | $21.9M | $18.6M | $28.0M | $26.9M | $22.9M | $16.6M | $0 |
| Total current assets | $1.22B | $893.4M | $898.1M | $877.0M | $861.7M | $829.8M | $806.0M | $796.6M | $795.0M | $808.0M | $806.1M | $802.7M |
| Property, plant & equipment (net) | $55.0M | $45.5M | $43.4M | $41.8M | $40.0M | $40.7M | $39.9M | $39.9M | $35.1M | $34.3M | $35.1M | $35.7M |
| Goodwill & intangible assets | $619.0M | $30.9M | $27.1M | $25.6M | $26.4M | $24.9M | $24.5M | $20.5M | $15.0M | $12.6M | $11.7M | $10.7M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $52.4M | $30.7M | $31.4M | $50.9M | $51.8M | $55.8M | $59.9M | $57.1M | $59.3M | $61.3M | $67.6M | $65.3M |
| Total assets | $1.95B | $1.00B | $1.00B | $995.3M | $979.9M | $951.2M | $930.3M | $914.1M | $904.4M | $916.3M | $920.5M | $914.3M |
| Liabilities | ||||||||||||
| Accounts payable | $176.3M | $129.3M | $129.8M | $130.1M | $124.7M | $117.9M | $123.2M | $123.5M | $121.9M | $123.7M | $124.5M | $123.2M |
| Short-term debt | — | — | — | — | — | — | $43,000 | $755,000 | $2.4M | $4.4M | $6.6M | $7.4M |
| Deferred revenue | $498.4M | $200.1M | $180.9M | $177.4M | $186.0M | $184.7M | $159.7M | $152.9M | $156.7M | $148.4M | $137.2M | $138.7M |
| Total current liabilities | $768.1M | $362.4M | $357.9M | $349.5M | $346.2M | $334.5M | $327.5M | $314.8M | $315.9M | $302.6M | $298.3M | $295.6M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | — | — | — | — | $3.1M | $3.1M | $3.7M | $2.4M | $4.4M | $6.6M | $8.5M |
| Other long-term liabilities | $12.7M | $6.3M | $6.4M | $6.3M | $6.7M | $6.2M | $5.4M | $6.0M | $3.3M | $4.6M | $6.1M | $5.3M |
| Total liabilities | $780.8M | $368.7M | $364.3M | $355.8M | $352.9M | $340.7M | $332.9M | $320.9M | $319.2M | $307.2M | $304.3M | $300.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | — | — | $1.55B | — | — | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
| Retained earnings (deficit) | −$1.01B | −$931.7M | −$911.2M | −$884.4M | −$875.8M | −$868.0M | −$860.2M | −$838.6M | −$824.9M | −$801.9M | −$780.7M | −$760.3M |
| Accumulated other comprehensive income | $100,000 | — | — | $0 | — | $0 | — | — | $0 | $0 | $59,000 | −$219,000 |
| Total shareholders' equity | $1.17B | $631.8M | $635.7M | $639.5M | $627.0M | $610.5M | $597.4M | $593.3M | $585.2M | $609.1M | $616.2M | $613.4M |
| Key figures | ||||||||||||
| Total debt | $9.7M | $4.8M | $3.9M | $4.7M | $4.9M | $3.1M | $3.1M | $3.7M | $2.4M | $4.4M | $6.6M | $8.5M |
| Net cash (debt) | $972.5M | $785.0M | $788.7M | $793.0M | $770.2M | $744.9M | $724.6M | $717.3M | $707.9M | $722.6M | $715.5M | $712.7M |
| Working capital | $453.3M | $531.0M | $540.2M | $527.5M | $515.5M | $495.3M | $478.5M | $481.8M | $479.1M | $505.5M | $507.8M | $507.1M |
| Tangible book value | $548.0M | $600.9M | $608.6M | $613.9M | $600.6M | $585.6M | $572.9M | $572.7M | $570.2M | $596.5M | $604.5M | $602.7M |
| Book value per share | $5.80 | $3.75 | $3.80 | $3.89 | $3.86 | $3.80 | $3.75 | $3.76 | $3.74 | $3.90 | $4.01 | $4.07 |
| Shares outstanding | 201.2M | 168.7M | 167.2M | 164.6M | 162.5M | 160.7M | 159.2M | 157.6M | 156.3M | 156.4M | 153.7M | 150.9M |
| Current ratio | 1.59 | 2.47 | 2.51 | 2.51 | 2.49 | 2.48 | 2.46 | 2.53 | 2.52 | 2.67 | 2.70 | 2.72 |
| Quick ratio | 1.49 | 2.34 | 2.40 | 2.45 | 2.43 | 2.42 | 2.40 | 2.44 | 2.43 | 2.59 | 2.65 | 2.65 |
| Debt / equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.01 | 0.01 | 0.01 |
| Equity / assets | 59.9% | 63.1% | 63.6% | 64.3% | 64.0% | 64.2% | 64.2% | 64.9% | 64.7% | 66.5% | 66.9% | 67.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 23, 2026); data from EODHD.
COUR financial position
At the end of fiscal 2025 (December 31, 2025), Coursera had total assets of $1.0 billion (up 7.5% from a year earlier), total liabilities of $364.3 million and shareholders' equity of $635.7 million. It held $792.6 million in cash and short-term investments against $5.0 million of debt, a net cash position of $787.6 million. Its current ratio was 2.51. In the latest quarter (ended June 30, 2026) total assets were $1.9 billion and equity $1.2 billion.
Related: COUR income statement, COUR cash flow statement, COUR key metrics. See the COUR stock overview for the latest quote and news.
COUR balance sheet FAQ
What are Coursera's total assets?
Coursera reported total assets of $1.0 billion at the end of fiscal 2025 (December 31, 2025), compared with $930.3 million a year earlier.
How much debt does Coursera have?
Coursera had $5.0 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.01.
How much cash does Coursera have?
Coursera held $792.6 million in cash and short-term investments at the end of fiscal 2025; with $5.0 million of debt that is net cash of $787.6 million.
What is Coursera's book value?
Coursera's shareholders' equity (book value) was $635.7 million at the end of fiscal 2025, or $3.88 per share.
What is Coursera's current ratio?
Coursera had current assets of $898.1 million and current liabilities of $357.9 million, a current ratio of 2.51 (it can cover its short-term obligations).
How much goodwill does Coursera have?
Coursera carried $27.1 million of goodwill and intangible assets, 2.7% of total assets, at the end of fiscal 2025.