Cosan S.A. (CSANY) Balance Sheet

NYSE: CSANYAssets, liabilities, debt and equity over 4 years.

CSANY balance sheet, 2025

December 31, 2025 · Brazilian reais

R$135.12B assets = R$104.11B liabilities + R$31.01B equity

What it ownsR$135.12BCash & ST investments: R$30.17B (22.3%)Cash & ST investmentsR$30.17B · 22%Receivables: R$3.52B (2.6%)Inventory: R$1.97B (1.5%)Other current: R$4.43B (3.3%)PP&E: R$36.46B (27.0%)PP&ER$36.46B · 27%Goodwill & intangibles: R$26.71B (19.8%)Goodwill & intangiblesR$26.71B · 20%LT investments: R$2.58B (1.9%)Other non-current: R$29.28B (21.7%)Other non-currentR$29.28B · 22%=How it is financedR$135.12BCurrent liabilities: R$15.55B (11.5%)Current liabilitiesR$15.55B · 12%Long-term debt: R$60.31B (44.6%)Long-term debtR$60.31B · 45%Other LT liabilities: R$28.25B (20.9%)Other LT liabilitiesR$28.25B · 21%Shareholders’ equity: R$31.01B (23.0%)Shareholders’ equityR$31.01B · 23%

Both columns are drawn to the same scale: what CSANY owns equals what it owes plus shareholders’ equity. Hover a block for its value.

CSANY financial health

Current ratio2.58
Comfortable · current assets cover current liabilities 2.58×
Debt / equity11.37
High leverage · R$11.37 of debt for each $1 of equity
Equity / assets3.9%
Thin equity · of assets funded by shareholders
Cash / debt50.0%
Partial cover · cash & short-term investments vs total debt
Goodwill & intangibles19.8%
Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

CSANY balance sheet trends, 2022–2025

MetricTrendThenLatestChange
Total assetsR$134.48B2022R$135.12B2025+0.2%/yr
Total liabilitiesR$86.32B2022R$104.11B2025+6.4%/yr
Shareholders’ equityR$20.65B2022R$5.30B2025−36.4%/yr
Cash & short-term investmentsR$15.96B2022R$30.17B2025+23.6%/yr
Total debtR$48.45B2022R$60.31B2025+7.6%/yr
Net cash (debt)−R$32.48B2022−R$30.14B2025+R$2.3B
Working capitalR$9.78B2022R$24.54B2025+R$14.8B
Current ratio1.6220222.582025+0.96
Debt / equity2.35202211.372025+9.02
Shares outstanding1.87B20223.96B2025+28.5%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

CSANY assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

CSANY liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

CSANY debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

CSANY balance sheet in Brazilian reais

2025202420232022
Assets
Cash & short-term investmentsR$30.17BR$20.40BR$18.27BR$15.96B
Cash & equivalentsR$27.24BR$16.90BR$14.66BR$13.30B
Short-term investmentsR$2.93BR$3.50BR$3.62BR$2.66B
ReceivablesR$3.52BR$3.73BR$3.33BR$3.77B
InventoryR$1.97BR$2.07BR$1.79BR$1.87B
Other current assetsR$4.43BR$4.57BR$5.21BR$3.98B
Total current assetsR$40.09BR$30.77BR$28.61BR$25.58B
Property, plant & equipment (net)R$36.46BR$32.98BR$30.75BR$26.96B
Goodwill & intangible assetsR$26.71BR$26.33BR$22.65BR$22.12B
Long-term investmentsR$2.58BR$21.85BR$29.79BR$34.01B
Other non-current assetsR$29.28BR$29.33BR$28.06BR$25.82B
Total assetsR$135.12BR$141.27BR$139.87BR$134.48B
Liabilities
Accounts payableR$4.08BR$5.17BR$3.92BR$4.32B
Total current liabilitiesR$15.55BR$17.91BR$16.16BR$15.80B
Long-term debtR$60.31BR$62.05BR$52.02BR$48.45B
Lease obligationsR$6.41BR$6.51BR$5.28BR$3.53B
Other long-term liabilitiesR$28.25BR$21.90BR$20.70BR$22.07B
Total liabilitiesR$104.11BR$101.87BR$88.88BR$86.32B
Shareholders' equity
Retained earnings (deficit)−R$9.72B−R$649.8MR$9.49BR$9.47B
Minority interestR$25.71BR$28.49BR$30.03BR$27.52B
Total shareholders' equityR$5.30BR$10.90BR$20.96BR$20.65B
Key figures
Total debtR$60.31BR$62.05BR$52.02BR$48.45B
Net cash (debt)−R$30.14B−R$41.65B−R$33.75B−R$32.48B
Working capitalR$24.54BR$12.86BR$12.45BR$9.78B
Tangible book value−R$21.40B−R$15.43B−R$1.69B−R$1.47B
Shares outstanding3.96B1.86B1.87B1.87B
Current ratio2.581.721.771.62
Quick ratio2.171.351.341.25
Debt / equity11.375.692.482.35
Equity / assets3.9%7.7%15.0%15.4%

Quarterly columns are labeled by the month the quarter ended. Figures in Brazilian reais as reported (latest annual report filed —); data from EODHD.

CSANY financial position

At the end of fiscal 2025 (December 31, 2025), Cosan had total assets of R$135.1 billion (down 4.4% from a year earlier), total liabilities of R$104.1 billion and shareholders' equity of R$5.3 billion. It held R$30.2 billion in cash and short-term investments against R$60.3 billion of debt, net debt of R$30.1 billion. Its current ratio was 2.58. In the latest quarter (ended June 30, 2026) total assets were R$126.7 billion and equity R$5.0 billion.

Related: CSANY income statement, CSANY cash flow statement, CSANY key metrics. See the CSANY stock overview for the latest quote and news.

CSANY balance sheet FAQ

What are Cosan's total assets?

Cosan reported total assets of R$135.1 billion at the end of fiscal 2025 (December 31, 2025), compared with R$141.3 billion a year earlier.

How much debt does Cosan have?

Cosan had R$60.3 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 11.37.

How much cash does Cosan have?

Cosan held R$30.2 billion in cash and short-term investments at the end of fiscal 2025; with R$60.3 billion of debt that is net debt of R$30.1 billion.

What is Cosan's book value?

Cosan's shareholders' equity (book value) was R$5.3 billion at the end of fiscal 2025.

What is Cosan's current ratio?

Cosan had current assets of R$40.1 billion and current liabilities of R$15.5 billion, a current ratio of 2.58 (it can cover its short-term obligations).

How much goodwill does Cosan have?

Cosan carried R$26.7 billion of goodwill and intangible assets, 19.8% of total assets, at the end of fiscal 2025.

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