Dyne Therapeutics, Inc. (DYN) Balance Sheet
DYN balance sheet, 2025
December 31, 2025 · U.S. dollars$1.19B assets = $214.8M liabilities + $972.1M equity
Both columns are drawn to the same scale: what DYN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
DYN financial health
Descriptive bands, not a rating. Fiscal 2025.
DYN balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $13.05B2016 | $1.19B2025 | −23.4%/yr | |
| Total liabilities | $11.01B2016 | $214.8M2025 | −35.4%/yr | |
| Shareholders’ equity | $2.04B2016 | $972.1M2025 | −7.9%/yr | |
| Cash & short-term investments | $1.91B2016 | $1.11B2025 | −5.8%/yr | |
| Total debt | $8.98B2016 | $20.3M2025 | −49.2%/yr | |
| Net cash (debt) | −$7.07B2016 | $1.09B2025 | +$8.2B | |
| Working capital | $2.07B2016 | $1.08B2025 | −$995.0M | |
| Book value per share | $15.832016 | $7.572025 | −7.9%/yr | |
| Debt / equity | 4.402016 | 0.022025 | −4.38 | |
| Shares outstanding | 129.0M2016 | 128.4M2025 | −0.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
DYN assets
DYN liabilities and equity
DYN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
DYN balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.11B | $642.3M | $123.1M | $256.0M | $376.6M | $345.3M | $14.6M | $8.1M | $397.0M | $1.91B |
| Cash & equivalents | $893.4M | $435.4M | $121.6M | $172.1M | $200.8M | $300.9M | $14.6M | $8.1M | $365.0M | $1.78B |
| Short-term investments | $217.2M | $206.8M | $1.5M | $83.9M | $175.7M | $44.5M | — | — | $32.0M | $130.0M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $513.0M | $386.0M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $445.0M | $445.0M |
| Other current assets | $16.0M | $17.0M | $6.3M | $9.6M | $5.8M | $3.8M | $127,000 | $34,000 | $169.0M | $250.0M |
| Total current assets | $1.13B | $659.3M | $129.4M | $265.6M | $382.4M | $349.1M | $14.8M | $8.2M | $1.52B | $2.99B |
| Property, plant & equipment (net) | $44.8M | $30.0M | $33.4M | $38.4M | $41.0M | $1.9M | $1.5M | $110,000 | $8.88B | $7.12B |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $797.0M | $837.0M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $15.6M | $1.9M | $2.3M | $2.3M | $2.3M | $2.3M | $192,000 | $0 | $566.0M | $2.11B |
| Total assets | $1.19B | $691.2M | $165.1M | $306.3M | $425.7M | $353.3M | $16.4M | $8.3M | $11.77B | $13.05B |
| Liabilities | ||||||||||
| Accounts payable | $8.1M | $6.6M | $22.9M | $5.3M | $4.0M | $3.4M | $1.3M | $518,000 | $367.0M | $332.0M |
| Short-term debt | $5.0M | $4.8M | $4.7M | $4.6M | $3.9M | — | — | — | $105.0M | $201.0M |
| Deferred revenue | — | — | — | — | — | — | — | — | $7.0M | $5.0M |
| Total current liabilities | $50.6M | $42.3M | $51.1M | $28.1M | $28.7M | $11.0M | $2.4M | $711,000 | $1.05B | $916.0M |
| Long-term debt | $148.9M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $20.3M | $24.0M | $27.4M | $30.5M | $32.6M | $0 | — | — | — | — |
| Other long-term liabilities | $15.3M | $19.1M | $22.7M | $25.9M | $28.7M | $3.4M | $42,000 | $12.4M | $8.48B | $8.95B |
| Total liabilities | $214.8M | $61.4M | $73.8M | $54.0M | $57.5M | $11.0M | $2.4M | $13.1M | $9.87B | $11.01B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $16,000 | $10,000 | $6,000 | $6,000 | $6,000 | $5,000 | $1,000 | $1,000 | $1.0M | $1.0M |
| Retained earnings (deficit) | −$1.40B | −$949.9M | −$632.5M | −$396.6M | −$228.5M | −$79.2M | −$19.7M | −$4.9M | −$1.85B | −$1.93B |
| Accumulated other comprehensive income | $475,000 | $6,000 | — | −$571,000 | −$269,000 | −$27,000 | $0 | −$24,000 | $32.0M | $21.0M |
| Total shareholders' equity | $972.1M | $629.8M | $91.3M | $252.4M | $368.2M | $342.4M | $14.0M | −$4.9M | $1.90B | $2.04B |
| Key figures | ||||||||||
| Total debt | $20.3M | $24.0M | $27.4M | $30.5M | $32.6M | — | — | $3.4M | $8.43B | $8.98B |
| Net cash (debt) | $1.09B | $618.3M | $95.7M | $225.5M | $343.9M | — | — | $4.7M | −$8.04B | −$7.07B |
| Working capital | $1.08B | $617.0M | $78.3M | $237.5M | $353.7M | $338.1M | $12.4M | $7.4M | $475.0M | $2.07B |
| Tangible book value | $972.1M | $629.8M | $91.3M | $252.4M | $368.2M | $342.4M | $14.0M | −$4.9M | $1.10B | $1.21B |
| Book value per share | $7.57 | $6.69 | $1.53 | $4.86 | $7.23 | $7.24 | $0.31 | — | $11.73 | $15.83 |
| Shares outstanding | 128.4M | 94.1M | 59.7M | 52.0M | 50.9M | 47.3M | 45.4M | — | 162.0M | 129.0M |
| Current ratio | 22.25 | 15.60 | 2.53 | 9.46 | 13.31 | 31.83 | 6.26 | 11.47 | 1.45 | 3.26 |
| Quick ratio | 21.94 | 15.20 | 2.41 | 9.11 | 13.11 | 31.49 | 6.21 | 11.43 | 0.87 | 2.50 |
| Debt / equity | 0.02 | 0.04 | 0.30 | 0.12 | 0.09 | — | — | — | 4.44 | 4.40 |
| Equity / assets | 81.9% | 91.1% | 55.3% | 82.4% | 86.5% | 96.9% | 85.4% | −59.0% | 16.1% | 15.6% |
| 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 | $898.5M | $972.2M | $1.11B | $791.9M | $683.9M | $677.5M | $642.3M | $723.7M | $778.8M | $453.5M | $123.1M | $157.8M |
| Cash & equivalents | $676.1M | $753.1M | $893.4M | $573.6M | $485.0M | $472.3M | $435.4M | $532.2M | $608.2M | $272.0M | $121.6M | $130.3M |
| Short-term investments | $222.4M | $219.1M | $217.2M | $218.3M | $198.9M | $205.2M | $206.8M | $191.5M | $170.6M | $181.5M | $1.5M | $27.5M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $39.4M | $48.9M | $16.0M | $14.4M | $14.0M | $12.0M | $17.0M | $12.7M | $13.5M | $34.6M | $6.3M | $10.4M |
| Total current assets | $937.9M | $1.02B | $1.13B | $806.3M | $698.0M | $689.5M | $659.3M | $736.4M | $792.3M | $488.1M | $129.4M | $168.2M |
| Property, plant & equipment (net) | $44.8M | $43.3M | $44.8M | $45.8M | $28.5M | $29.6M | $30.0M | $30.5M | $31.6M | $32.2M | $33.4M | $34.7M |
| 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 | $11.3M | $15.6M | $15.6M | $15.0M | $2.5M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $2.3M | $2.3M |
| Total assets | $994.0M | $1.08B | $1.19B | $867.1M | $729.0M | $721.1M | $691.2M | $768.8M | $825.9M | $522.3M | $165.1M | $205.2M |
| Liabilities | ||||||||||||
| Accounts payable | $12.2M | $10.8M | $8.1M | $12.1M | $14.0M | $7.0M | $6.6M | $6.2M | $1.9M | $7.2M | $22.9M | $3.6M |
| Short-term debt | $5.4M | $5.0M | $5.0M | $5.0M | $5.0M | $5.1M | $4.8M | $4.8M | $4.8M | $4.8M | $4.7M | $4.7M |
| Deferred revenue | — | — | — | — | — | — | — | — | — | $10.4M | — | — |
| Total current liabilities | $78.0M | $51.2M | $50.6M | $59.8M | $41.5M | $33.9M | $42.3M | $43.3M | $29.8M | $22.4M | $51.1M | $29.7M |
| Long-term debt | $199.3M | $149.4M | $148.9M | $99.1M | $98.8M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $19.9M | $19.3M | $20.3M | $21.3M | $22.3M | $23.3M | $24.0M | $24.9M | $25.7M | $26.6M | $27.4M | $28.2M |
| Other long-term liabilities | $14.5M | $14.3M | $15.3M | $16.3M | $17.3M | $18.2M | $19.1M | $20.0M | $20.9M | $21.9M | $22.7M | $23.5M |
| Total liabilities | $291.9M | $214.9M | $214.8M | $175.3M | $157.5M | $52.1M | $61.4M | $63.3M | $50.7M | $44.2M | $73.8M | $53.2M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $16,000 | $16,000 | $16,000 | $14,000 | $11,000 | $11,000 | $10,000 | $10,000 | $10,000 | $9,000 | $6,000 | $6,000 |
| Retained earnings (deficit) | −$1.70B | −$1.52B | −$1.40B | −$1.28B | −$1.18B | −$1.07B | −$949.9M | −$860.4M | −$763.3M | −$698.2M | −$632.5M | −$565.9M |
| Accumulated other comprehensive income | −$353,000 | −$137,000 | $475,000 | $496,000 | $252,000 | $241,000 | $6,000 | $478,000 | −$240,000 | −$132,000 | — | −$13,000 |
| Total shareholders' equity | $702.2M | $865.1M | $972.1M | $691.8M | $571.4M | $669.0M | $629.8M | $705.5M | $775.2M | $478.1M | $91.3M | $152.0M |
| Key figures | ||||||||||||
| Total debt | $19.9M | $19.3M | $20.3M | $120.5M | $121.1M | $23.3M | $24.0M | $24.9M | $25.7M | $26.6M | $27.4M | $28.2M |
| Net cash (debt) | $878.6M | $952.9M | $1.09B | $671.4M | $562.8M | $654.2M | $618.3M | $698.8M | $753.1M | $426.9M | $95.7M | $129.6M |
| Working capital | $859.9M | $969.8M | $1.08B | $746.4M | $656.5M | $655.6M | $617.0M | $693.1M | $762.6M | $465.8M | $78.3M | $138.5M |
| Tangible book value | $702.2M | $865.1M | $972.1M | $691.8M | $571.4M | $669.0M | $629.8M | $705.5M | $775.2M | $478.1M | $91.3M | $152.0M |
| Book value per share | $4.24 | $5.24 | $7.57 | $4.88 | $5.02 | $6.09 | $6.18 | $6.99 | $8.38 | $5.90 | $1.49 | $2.49 |
| Shares outstanding | 165.5M | 165.0M | 128.4M | 141.8M | 113.9M | 109.9M | 102.0M | 100.9M | 92.5M | 81.0M | 61.4M | 61.1M |
| Current ratio | 12.02 | 19.92 | 22.25 | 13.47 | 16.83 | 20.35 | 15.60 | 17.02 | 26.63 | 21.83 | 2.53 | 5.67 |
| Quick ratio | 11.51 | 18.97 | 21.94 | 13.23 | 16.49 | 20.00 | 15.20 | 16.73 | 26.18 | 20.28 | 2.41 | 5.32 |
| Debt / equity | 0.03 | 0.02 | 0.02 | 0.17 | 0.21 | 0.03 | 0.04 | 0.04 | 0.03 | 0.06 | 0.30 | 0.19 |
| Equity / assets | 70.6% | 80.1% | 81.9% | 79.8% | 78.4% | 92.8% | 91.1% | 91.8% | 93.9% | 91.5% | 55.3% | 74.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 2, 2026); data from EODHD.
DYN financial position
At the end of fiscal 2025 (December 31, 2025), Dyne Therapeutics had total assets of $1.2 billion (up 71.7% from a year earlier), total liabilities of $214.8 million and shareholders' equity of $972.1 million. It held $1.1 billion in cash and short-term investments against $20.3 million of debt, a net cash position of $1.1 billion. Its current ratio was 22.25. In the latest quarter (ended June 30, 2026) total assets were $994.0 million and equity $702.2 million.
Related: DYN income statement, DYN cash flow statement, DYN key metrics. See the DYN stock overview for the latest quote and news.
DYN balance sheet FAQ
What are Dyne Therapeutics's total assets?
Dyne Therapeutics reported total assets of $1.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $691.2 million a year earlier.
How much debt does Dyne Therapeutics have?
Dyne Therapeutics had $20.3 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.02.
How much cash does Dyne Therapeutics have?
Dyne Therapeutics held $1.1 billion in cash and short-term investments at the end of fiscal 2025; with $20.3 million of debt that is net cash of $1.1 billion.
What is Dyne Therapeutics's book value?
Dyne Therapeutics's shareholders' equity (book value) was $972.1 million at the end of fiscal 2025, or $7.57 per share.
What is Dyne Therapeutics's current ratio?
Dyne Therapeutics had current assets of $1.1 billion and current liabilities of $50.6 million, a current ratio of 22.25 (it can cover its short-term obligations).