DHT Holdings, Inc. (DHT) Balance Sheet
DHT balance sheet, 2025
December 31, 2025 · U.S. dollars$1.60B assets = $469.7M liabilities + $1.13B equity
Both columns are drawn to the same scale: what DHT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
DHT financial health
Descriptive bands, not a rating. Fiscal 2025.
DHT balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.40B2016 | $1.60B2025 | +1.5%/yr | |
| Total liabilities | $718.7M2016 | $469.7M2025 | −4.6%/yr | |
| Shareholders’ equity | $685.0M2016 | $1.13B2025 | +5.8%/yr | |
| Cash & short-term investments | $109.3M2016 | $79.0M2025 | −3.5%/yr | |
| Total debt | $701.5M2016 | $428.7M2025 | −5.3%/yr | |
| Net cash (debt) | −$592.2M2016 | −$349.7M2025 | +$242.5M | |
| Working capital | $104.2M2016 | $134.2M2025 | +$30.0M | |
| Book value per share | $7.342016 | $7.052025 | −0.4%/yr | |
| Current ratio | 2.402016 | 2.802025 | +0.39 | |
| Debt / equity | 1.022016 | 0.382025 | −0.65 | |
| Shares outstanding | 93.4M2016 | 160.8M2025 | +6.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
DHT assets
DHT liabilities and equity
DHT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
DHT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $79.0M | $78.1M | $74.7M | $125.9M | $60.4M | $68.6M | $67.4M | $94.9M | $77.3M | $109.3M |
| Cash & equivalents | $79.0M | $78.1M | $74.7M | $125.9M | $60.4M | $68.6M | $67.4M | $94.9M | $77.3M | $109.3M |
| Short-term investments | — | — | — | $3.8M | — | — | — | — | — | — |
| Receivables | $53.3M | $53.7M | $75.8M | $59.5M | $30.4M | $30.1M | $107.8M | $60.2M | $42.2M | $34.5M |
| Inventory | $24.7M | $37.7M | $33.8M | $33.1M | $33.4M | $11.9M | $34.1M | $32.2M | $23.7M | $7.9M |
| Other current assets | $51.9M | $32.3M | $16.1M | $17.1M | $7.8M | $7.7M | $9.0M | $6.0M | $24.0M | $26.8M |
| Total current assets | $208.9M | $201.9M | $200.5M | $235.6M | $132.0M | $118.3M | $218.3M | $193.3M | $167.1M | $178.5M |
| Property, plant & equipment (net) | $1.39B | $1.19B | $1.29B | $1.27B | $1.47B | $1.50B | $1.60B | $1.67B | $1.56B | $1.22B |
| Goodwill & intangible assets | $1.4M | $1.4M | $1.4M | $1.4M | $0 | $452,000 | $1.4M | $2.4M | $3.4M | $4.4M |
| Long-term investments | $0 | $0 | $0 | $0 | $5.4M | $5.2M | $4.8M | $4.4M | $4.0M | $3.4M |
| Other non-current assets | $19,000 | $93.2M | $0 | $0 | $1,000 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $1.60B | $1.49B | $1.49B | $1.51B | $1.61B | $1.62B | $1.83B | $1.86B | $1.73B | $1.40B |
| Liabilities | ||||||||||
| Accounts payable | $22.8M | $10.0M | $9.2M | $14.6M | $11.1M | $2.8M | $7.9M | $10.9M | $8.9M | $3.6M |
| Short-term debt | $39.5M | $80.0M | $31.7M | $29.6M | $10.4M | $3.4M | $100.4M | $93.8M | $65.1M | $57.5M |
| Deferred revenue | $11.4M | $6.1M | $4.4M | $4.2M | $4.9M | $16.2M | $930,000 | $17.7M | $8.5M | $2.2M |
| Total current liabilities | $74.7M | $109.6M | $56.6M | $64.4M | $41.9M | $47.9M | $130.2M | $123.7M | $83.0M | $74.3M |
| Long-term debt | $389.2M | $330.8M | $398.4M | $367.1M | $512.5M | $446.6M | $752.8M | $873.5M | $721.2M | $644.0M |
| Lease obligations | $994,000 | $1.4M | $1.4M | $3.9M | $3.3M | — | — | — | — | — |
| Other long-term liabilities | $5.7M | $3.5M | $5.5M | $3.5M | $7.6M | $18.6M | $11.7M | $5.0M | $428,000 | $442,000 |
| Total liabilities | $469.7M | $443.9M | $460.6M | $435.0M | $562.0M | $513.0M | $894.8M | $1.00B | $804.6M | $718.7M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.6M | $1.6M | $1.6M | $1.6M | $1.7M | $1.7M | $1.5M | $1.4M | $1.4M | $934,000 |
| Retained earnings (deficit) | −$96.2M | −$186.3M | −$206.5M | −$180.7M | −$222.4M | −$188.7M | −$240.2M | −$285.4M | −$222.1M | −$205.2M |
| Treasury stock | — | — | — | — | — | — | — | −$1.4M | — | — |
| Accumulated other comprehensive income | $498,000 | $5.3M | $3.8M | $3.8M | $4.1M | $4.4M | $1.6M | $1.9M | $5.8M | $8.2M |
| Minority interest | $71,000 | $4.5M | $4.5M | $5.0M | — | — | — | — | — | — |
| Total shareholders' equity | $1.13B | $1.04B | $1.03B | $1.07B | $1.05B | $1.11B | $932.4M | $861.7M | $925.9M | $685.0M |
| Key figures | ||||||||||
| Total debt | $428.7M | $413.6M | $430.1M | $396.7M | $525.6M | $450.0M | $853.2M | $967.3M | $786.2M | $701.5M |
| Net cash (debt) | −$349.7M | −$335.4M | −$355.4M | −$270.7M | −$465.2M | −$381.3M | −$785.9M | −$872.3M | −$708.9M | −$592.2M |
| Working capital | $134.2M | $92.3M | $143.9M | $171.2M | $90.0M | $70.3M | $88.0M | $69.6M | $84.1M | $104.2M |
| Tangible book value | $1.13B | $1.04B | $1.03B | $1.07B | $1.05B | $1.11B | $931.0M | $859.3M | $922.5M | $680.6M |
| Book value per share | $7.05 | $6.43 | $6.33 | $6.48 | $6.19 | $6.52 | $5.55 | $6.01 | $7.43 | $7.34 |
| Shares outstanding | 160.8M | 161.4M | 162.4M | 164.9M | 169.1M | 170.1M | 168.2M | 143.4M | 124.5M | 93.4M |
| Current ratio | 2.80 | 1.84 | 3.54 | 3.66 | 3.15 | 2.47 | 1.68 | 1.56 | 2.01 | 2.40 |
| Quick ratio | 1.77 | 1.20 | 2.66 | 2.88 | 2.16 | 2.06 | 1.35 | 1.25 | 1.44 | 1.93 |
| Debt / equity | 0.38 | 0.40 | 0.42 | 0.37 | 0.50 | 0.41 | 0.92 | 1.12 | 0.85 | 1.02 |
| Equity / assets | 70.7% | 69.8% | 68.8% | 70.8% | 65.1% | 68.4% | 51.0% | 46.2% | 53.5% | 48.8% |
| 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 | $161.7M | $126.2M | $79.0M | $81.2M | $82.7M | $80.5M | $78.1M | $73.8M | $72.6M | $73.1M | $74.7M | $73.9M |
| Cash & equivalents | $161.7M | $126.2M | $79.0M | $81.2M | $82.7M | $80.5M | $78.1M | $73.8M | $72.6M | $73.1M | $74.7M | $73.9M |
| Receivables | $87.1M | $85.3M | $53.3M | $34.0M | $40.0M | $50.5M | $53.7M | $58.6M | $70.4M | $80.6M | $75.8M | $55.7M |
| Inventory | $26.8M | $30.2M | $24.7M | $23.5M | $30.7M | $33.0M | $37.7M | $33.3M | $36.8M | $37.4M | $33.8M | $37.8M |
| Other current assets | $27.2M | $25.3M | $51.9M | $7.9M | $40.3M | $8.0M | $32.3M | $15.8M | $15.9M | $12.3M | $16.1M | $11.8M |
| Total current assets | $302.7M | $267.1M | $208.9M | $146.6M | $193.7M | $172.0M | $201.9M | $181.5M | $195.7M | $203.4M | $200.5M | $179.2M |
| Property, plant & equipment (net) | $1.50B | $1.52B | $1.39B | $1.24B | $1.24B | $1.28B | $1.19B | $1.29B | $1.29B | $1.27B | $1.29B | $1.32B |
| Goodwill & intangible assets | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $3.3M | $594,000 | $19,000 | $11.9M | $0 | $0 | $93.2M | $0 | $0 | $0 | $0 | $0 |
| Total assets | $1.81B | $1.79B | $1.60B | $1.40B | $1.43B | $1.46B | $1.49B | $1.47B | $1.49B | $1.47B | $1.49B | $1.50B |
| Liabilities | ||||||||||||
| Accounts payable | $24.1M | — | $22.8M | $21.5M | $25.1M | $20.3M | $10.0M | $22.7M | $21.5M | $24.1M | $9.2M | $25.1M |
| Short-term debt | $45.4M | $105.6M | $39.5M | $31.6M | $49.1M | $78.8M | $80.0M | $48.3M | $42.0M | $36.2M | $31.7M | $47.9M |
| Deferred revenue | $12.4M | $6.6M | $11.4M | $6.7M | $8.0M | $7.5M | $6.1M | $2.7M | $3.2M | $3.2M | $4.4M | $4.4M |
| Total current liabilities | $83.1M | $146.1M | $74.7M | $60.8M | $83.3M | $107.9M | $109.6M | $75.3M | $68.2M | $61.7M | $56.6M | $78.8M |
| Long-term debt | $389.4M | $400.7M | $389.2M | $237.0M | $253.7M | $285.3M | $330.8M | $359.3M | $372.6M | $361.6M | $398.4M | $388.6M |
| Lease obligations | — | $914,000 | $994,000 | — | — | — | $1.4M | — | — | — | $1.4M | — |
| Other long-term liabilities | $5.8M | $5.5M | $5.7M | $4.6M | $4.5M | $3.4M | $3.5M | $4.3M | $4.5M | $4.9M | $5.5M | $3.6M |
| Total liabilities | $478.3M | $552.3M | $469.7M | $302.4M | $341.5M | $396.6M | $443.9M | $438.9M | $445.3M | $428.3M | $460.6M | $471.0M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M |
| Retained earnings (deficit) | $97.6M | $2.3M | −$96.2M | −$133.1M | −$139.3M | −$169.5M | −$186.3M | −$205.9M | −$197.5M | −$195.1M | −$206.5M | −$210.8M |
| Accumulated other comprehensive income | $3.0M | $3.2M | $498,000 | $3.4M | $2.9M | $3.0M | $5.3M | $4.2M | $3.1M | $3.0M | $3.8M | $3.2M |
| Minority interest | $75,000 | $73,000 | $71,000 | $64,000 | $63,000 | — | — | — | — | — | — | — |
| Total shareholders' equity | $1.33B | $1.23B | $1.13B | $1.10B | $1.09B | $1.06B | $1.04B | $1.03B | $1.04B | $1.04B | $1.03B | $1.02B |
| Key figures | ||||||||||||
| Total debt | $434.8M | $506.3M | $428.7M | $268.5M | $302.8M | $364.1M | $413.6M | $407.6M | $414.6M | $397.8M | $430.1M | $436.6M |
| Net cash (debt) | −$273.1M | −$380.0M | −$349.7M | −$187.3M | −$220.1M | −$283.6M | −$335.4M | −$333.8M | −$342.0M | −$324.7M | −$355.4M | −$362.7M |
| Working capital | $219.6M | $121.0M | $134.2M | $85.8M | $110.4M | $64.1M | $92.3M | $106.3M | $127.5M | $141.7M | $143.9M | $100.5M |
| Tangible book value | $1.33B | $1.23B | $1.13B | $1.09B | $1.09B | $1.06B | $1.04B | $1.03B | $1.04B | $1.04B | $1.03B | $1.02B |
| Book value per share | $8.24 | $7.65 | $7.04 | $6.82 | $6.77 | $6.58 | $6.43 | $6.38 | $6.43 | $6.44 | $6.37 | $6.31 |
| Shares outstanding | 161.3M | 161.2M | 160.9M | 160.7M | 160.7M | 160.6M | 161.3M | 161.6M | 161.5M | 161.4M | 161.2M | 161.9M |
| Current ratio | 3.64 | 1.83 | 2.80 | 2.41 | 2.33 | 1.59 | 1.84 | 2.41 | 2.87 | 3.30 | 3.54 | 2.28 |
| Quick ratio | 2.99 | 1.45 | 1.77 | 1.89 | 1.47 | 1.21 | 1.20 | 1.76 | 2.10 | 2.49 | 2.66 | 1.65 |
| Debt / equity | 0.33 | 0.41 | 0.38 | 0.25 | 0.28 | 0.34 | 0.40 | 0.40 | 0.40 | 0.38 | 0.42 | 0.43 |
| Equity / assets | 73.5% | 69.1% | 70.7% | 78.4% | 76.1% | 72.5% | 69.8% | 69.9% | 69.8% | 70.6% | 68.8% | 68.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 19, 2026); data from EODHD.
DHT financial position
At the end of fiscal 2025 (December 31, 2025), DHT had total assets of $1.6 billion (up 7.8% from a year earlier), total liabilities of $469.7 million and shareholders' equity of $1.1 billion. It held $79.0 million in cash and short-term investments against $428.7 million of debt, net debt of $349.7 million. Its current ratio was 2.80. In the latest quarter (ended June 30, 2026) total assets were $1.8 billion and equity $1.3 billion.
Related: DHT income statement, DHT cash flow statement, DHT key metrics. See the DHT stock overview for the latest quote and news.
DHT balance sheet FAQ
What are DHT's total assets?
DHT reported total assets of $1.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.5 billion a year earlier.
How much debt does DHT have?
DHT had $428.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.38.
How much cash does DHT have?
DHT held $79.0 million in cash and short-term investments at the end of fiscal 2025; with $428.7 million of debt that is net debt of $349.7 million.
What is DHT's book value?
DHT's shareholders' equity (book value) was $1.1 billion at the end of fiscal 2025, or $7.05 per share.
What is DHT's current ratio?
DHT had current assets of $208.9 million and current liabilities of $74.7 million, a current ratio of 2.80 (it can cover its short-term obligations).
How much goodwill does DHT have?
DHT carried $1.4 million of goodwill and intangible assets, 0.1% of total assets, at the end of fiscal 2025.