Cyanotech Corporation (CYAN) Balance Sheet
CYAN balance sheet, FY2026
March 31, 2026 · U.S. dollars$22.1M assets = $14.5M liabilities + $7.7M equity
Both columns are drawn to the same scale: what CYAN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CYAN financial health
Descriptive bands, not a rating. Fiscal FY2026.
CYAN balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $29.2MFY2017 | $22.1MFY2026 | −3.0%/yr | |
| Total liabilities | $12.6MFY2017 | $14.5MFY2026 | +1.6%/yr | |
| Shareholders’ equity | $16.6MFY2017 | $7.7MFY2026 | −8.2%/yr | |
| Cash & short-term investments | $1.4MFY2017 | $810,000FY2026 | −6.0%/yr | |
| Total debt | $7.5MFY2017 | $11.6MFY2026 | +5.0%/yr | |
| Net cash (debt) | −$6.1MFY2017 | −$10.8MFY2026 | −$4.7M | |
| Working capital | $6.2MFY2017 | $168,000FY2026 | −$6.0M | |
| Book value per share | $2.94FY2017 | $1.05FY2026 | −10.8%/yr | |
| Current ratio | 2.03FY2017 | 1.02FY2026 | −1.01 | |
| Debt / equity | 0.45FY2017 | 1.51FY2026 | +1.06 | |
| Shares outstanding | 5.7MFY2017 | 7.3MFY2026 | +2.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CYAN assets
CYAN liabilities and equity
CYAN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CYAN balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $810,000 | $257,000 | $707,000 | $974,000 | $2.6M | $3.8M | $2.4M | $840,000 | $1.3M | $1.4M |
| Cash & equivalents | $810,000 | $257,000 | $707,000 | $974,000 | $2.6M | $3.8M | $2.4M | $840,000 | $1.3M | $1.4M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $3.2M | $2.0M | $2.1M | $1.3M | $3.7M | $2.4M | $2.2M | $2.0M | $2.7M | $2.1M |
| Inventory | $6.3M | $7.8M | $7.3M | $10.7M | $9.5M | $8.4M | $9.7M | $11.3M | $9.0M | $8.0M |
| Other current assets | $478,000 | $547,000 | $469,000 | $484,000 | $545,000 | $488,000 | $504,000 | $496,000 | $590,000 | $722,000 |
| Total current assets | $10.9M | $10.5M | $10.6M | $13.5M | $16.3M | $15.1M | $14.7M | $14.6M | $13.6M | $12.2M |
| Property, plant & equipment (net) | $11.1M | $12.8M | $14.4M | $16.1M | $15.7M | $15.7M | $16.9M | $14.8M | $15.7M | $16.7M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $123,000 | $116,000 | $128,000 | $90,000 | $109,000 | $120,000 | $183,000 | $282,000 | $356,000 | $213,000 |
| Total assets | $22.1M | $23.5M | $25.1M | $29.7M | $32.0M | $30.9M | $31.8M | $29.6M | $29.7M | $29.2M |
| Liabilities | ||||||||||
| Accounts payable | $1.7M | $2.2M | $1.4M | $1.0M | $2.4M | $2.3M | $2.1M | $4.9M | $3.5M | $3.7M |
| Short-term debt | $7.8M | $7.2M | $6.2M | $5.9M | $1.3M | $2.9M | $3.0M | $2.9M | $1.2M | $1.2M |
| Deferred revenue | — | $110,000 | $198,000 | $89,000 | $164,000 | $124,000 | $327,000 | $626,000 | $133,000 | $119,000 |
| Total current liabilities | $10.7M | $10.2M | $8.6M | $8.1M | $4.8M | $5.8M | $6.4M | $9.5M | $5.7M | $6.0M |
| Long-term debt | $0 | $1.0M | $1.0M | $1.0M | $4.3M | $4.8M | $6.0M | $57,000 | $5.8M | $6.2M |
| Lease obligations | — | $3.9M | $4.3M | $4.8M | $3.8M | $3.5M | $3.8M | — | — | — |
| Other long-term liabilities | $3.8M | $3.4M | $3.7M | $4.3M | $3.4M | $3.2M | $3.6M | $5.2M | $103,000 | $273,000 |
| Total liabilities | $14.5M | $14.6M | $13.3M | $13.4M | $12.6M | $13.8M | $15.9M | $14.7M | $11.6M | $12.6M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $145,000 | $144,000 | $139,000 | $125,000 | $124,000 | $122,000 | $120,000 | $117,000 | $115,000 | $114,000 |
| Retained earnings (deficit) | −$27.4M | −$26.1M | −$22.9M | −$17.6M | −$14.2M | −$16.3M | −$17.3M | −$17.7M | −$14.1M | −$15.1M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | — | — | — | — | — | — | −$21.2M | −$19.3M | −$17.3M | −$15.8M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $7.7M | $8.9M | $11.8M | $16.3M | $19.5M | $17.0M | $15.8M | $14.9M | $18.1M | $16.6M |
| Key figures | ||||||||||
| Total debt | $11.6M | $11.6M | $10.9M | $11.2M | $9.0M | $10.9M | $12.6M | $8.1M | $6.9M | $7.5M |
| Net cash (debt) | −$10.8M | −$11.3M | −$10.2M | −$10.2M | −$6.4M | −$7.1M | −$10.2M | −$7.3M | −$5.6M | −$6.1M |
| Working capital | $168,000 | $302,000 | $2.0M | $5.4M | $11.4M | $9.3M | $8.4M | $5.1M | $7.9M | $6.2M |
| Tangible book value | $7.7M | $8.9M | $11.8M | $16.3M | $19.5M | $17.0M | $15.8M | $14.9M | $18.1M | $16.6M |
| Book value per share | $1.05 | $1.26 | $1.81 | $2.62 | $3.16 | $2.80 | $2.66 | $2.56 | $3.13 | $2.94 |
| Shares outstanding | 7.3M | 7.1M | 6.5M | 6.2M | 6.2M | 6.1M | 6.0M | 5.8M | 5.8M | 5.7M |
| Current ratio | 1.02 | 1.03 | 1.24 | 1.67 | 3.37 | 2.60 | 2.32 | 1.54 | 2.39 | 2.03 |
| Quick ratio | 0.38 | 0.22 | 0.33 | 0.28 | 1.30 | 1.07 | 0.72 | 0.30 | 0.70 | 0.59 |
| Debt / equity | 1.51 | 1.30 | 0.92 | 0.68 | 0.46 | 0.64 | 0.79 | 0.54 | 0.38 | 0.45 |
| Equity / assets | 34.6% | 37.8% | 47.0% | 55.0% | 60.8% | 55.2% | 49.9% | 50.3% | 61.0% | 56.9% |
| 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 | $1.1M | $810,000 | $548,000 | $649,000 | $383,000 | $257,000 | $359,000 | $780,000 | $720,000 | $707,000 | $661,000 | $1.2M |
| Cash & equivalents | $1.1M | $810,000 | $548,000 | $649,000 | $383,000 | $257,000 | $359,000 | $780,000 | $720,000 | $707,000 | $661,000 | $1.2M |
| Receivables | $2.2M | $3.2M | $2.2M | $2.4M | $1.6M | $2.0M | $1.9M | $1.6M | $2.1M | $2.1M | $2.0M | $1.4M |
| Inventory | $7.0M | $6.3M | $8.1M | $8.4M | $8.1M | $7.8M | $7.8M | $7.2M | $7.0M | $7.3M | $9.1M | $9.6M |
| Other current assets | $632,000 | $478,000 | $479,000 | $550,000 | $470,000 | $547,000 | $533,000 | $568,000 | $551,000 | $469,000 | $464,000 | $428,000 |
| Total current assets | $10.9M | $10.9M | $11.4M | $11.9M | $10.5M | $10.5M | $10.6M | $10.1M | $10.4M | $10.6M | $12.3M | $12.7M |
| Property, plant & equipment (net) | $10.8M | $11.1M | $11.5M | $3.6M | $12.4M | $12.8M | $4.0M | $4.2M | $4.2M | $14.4M | $14.8M | $15.3M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $120,000 | $123,000 | $125,000 | $8.5M | $113,000 | $116,000 | $9.4M | $9.6M | $9.9M | $128,000 | $126,000 | $88,000 |
| Total assets | $21.9M | $22.1M | $23.0M | $24.0M | $23.0M | $23.5M | $24.0M | $23.9M | $24.4M | $25.1M | $27.3M | $28.1M |
| Liabilities | ||||||||||||
| Accounts payable | $1.2M | $1.7M | $2.3M | $3.0M | $2.2M | $2.2M | $2.2M | $2.1M | $2.3M | $1.4M | $1.4M | $1.4M |
| Short-term debt | $7.8M | $7.8M | $7.9M | $7.9M | $7.7M | $7.2M | $7.1M | $6.6M | $7.0M | $6.2M | $6.3M | $6.2M |
| Deferred revenue | — | — | $68,000 | $67,000 | $106,000 | $110,000 | $65,000 | $272,000 | $278,000 | $198,000 | $70,000 | $127,000 |
| Total current liabilities | $10.3M | $10.7M | $11.3M | $11.9M | $10.8M | $10.2M | $9.9M | $9.6M | $10.2M | $8.6M | $8.5M | $8.7M |
| Long-term debt | $0 | $0 | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $0 | $1.0M | $1.0M | $1.0M |
| Lease obligations | — | — | $3.5M | $3.6M | $3.8M | $3.9M | $4.1M | $4.2M | $4.1M | $4.3M | $4.4M | $4.5M |
| Other long-term liabilities | $3.6M | $3.8M | $2.9M | $3.1M | $3.2M | $3.4M | $3.5M | $3.6M | $3.6M | $3.7M | $3.9M | $4.0M |
| Total liabilities | $13.9M | $14.5M | $15.2M | $16.0M | $15.0M | $14.6M | $14.5M | $14.2M | $13.8M | $13.3M | $13.4M | $13.7M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $145,000 | $145,000 | $148,000 | $148,000 | $145,000 | $144,000 | $143,000 | $143,000 | $139,000 | $139,000 | $138,000 | $129,000 |
| Retained earnings (deficit) | −$27.1M | −$27.4M | −$27.3M | −$27.0M | −$27.0M | −$26.1M | −$25.5M | −$25.3M | −$24.1M | −$22.9M | −$20.8M | −$19.8M |
| Total shareholders' equity | $8.0M | $7.7M | $7.8M | $8.1M | $8.0M | $8.9M | $9.5M | $9.7M | $10.7M | $11.8M | $13.8M | $14.4M |
| Key figures | ||||||||||||
| Total debt | $11.4M | $11.6M | $11.9M | $15.1M | $11.9M | $11.6M | $11.6M | $11.2M | $10.6M | $10.9M | $11.2M | $11.3M |
| Net cash (debt) | −$10.3M | −$10.8M | −$11.3M | −$14.4M | −$11.5M | −$11.3M | −$11.3M | −$10.4M | −$9.9M | −$10.2M | −$10.5M | −$10.0M |
| Working capital | $666,000 | $168,000 | $92,000 | $39,000 | −$255,000 | $302,000 | $602,000 | $550,000 | $207,000 | $2.0M | $3.7M | $4.0M |
| Tangible book value | $8.0M | $7.7M | $7.8M | $8.1M | $8.0M | $8.9M | $9.5M | $9.7M | $10.7M | $11.8M | $13.8M | $14.4M |
| Book value per share | $1.10 | $1.06 | $1.06 | $1.11 | $1.11 | $1.26 | $1.33 | $1.38 | $1.53 | $1.80 | $2.11 | $2.26 |
| Shares outstanding | 7.3M | 7.2M | 7.4M | 7.3M | 7.2M | 7.1M | 7.2M | 7.0M | 6.9M | 6.6M | 6.6M | 6.4M |
| Current ratio | 1.06 | 1.02 | 1.01 | 1.00 | 0.98 | 1.03 | 1.06 | 1.06 | 1.02 | 1.24 | 1.44 | 1.46 |
| Quick ratio | 0.32 | 0.38 | 0.25 | 0.25 | 0.18 | 0.22 | 0.23 | 0.25 | 0.28 | 0.33 | 0.32 | 0.31 |
| Debt / equity | 1.42 | 1.51 | 1.51 | 1.87 | 1.49 | 1.30 | 1.23 | 1.16 | 0.99 | 0.92 | 0.81 | 0.78 |
| Equity / assets | 36.5% | 34.6% | 34.0% | 33.6% | 34.8% | 37.8% | 39.7% | 40.5% | 43.6% | 47.0% | 50.8% | 51.3% |
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.
CYAN financial position
At the end of fiscal 2026 (March 31, 2026), Cyanotech had total assets of $22.1 million (down 5.8% from a year earlier), total liabilities of $14.5 million and shareholders' equity of $7.7 million. It held $0.8 million in cash and short-term investments against $11.6 million of debt, net debt of $10.8 million. Its current ratio was 1.02. In the latest quarter (ended June 30, 2026) total assets were $21.9 million and equity $8.0 million.
Related: CYAN income statement, CYAN cash flow statement, CYAN key metrics. See the CYAN stock overview for the latest quote and news.
CYAN balance sheet FAQ
What are Cyanotech's total assets?
Cyanotech reported total assets of $22.1 million at the end of fiscal 2026 (March 31, 2026), compared with $23.5 million a year earlier.
How much debt does Cyanotech have?
Cyanotech had $11.6 million of total debt at the end of fiscal 2026, including short-term borrowings. Its debt-to-equity ratio was 1.51.
How much cash does Cyanotech have?
Cyanotech held $0.8 million in cash and short-term investments at the end of fiscal 2026; with $11.6 million of debt that is net debt of $10.8 million.
What is Cyanotech's book value?
Cyanotech's shareholders' equity (book value) was $7.7 million at the end of fiscal 2026, or $1.05 per share.
What is Cyanotech's current ratio?
Cyanotech had current assets of $10.9 million and current liabilities of $10.7 million, a current ratio of 1.02 (it can cover its short-term obligations).