GrafTech International Ltd. (EAF) Balance Sheet
EAF balance sheet, 2025
December 31, 2025 · U.S. dollars$1.03B assets = $1.29B liabilities + −$259.6M equity
Liabilities exceed assets: shareholders’ equity is negative (−$259.6M).
Both columns are drawn to the same scale: what EAF owns equals what it owes plus shareholders’ equity. Hover a block for its value.
EAF financial health
Descriptive bands, not a rating. Fiscal 2025.
EAF balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.17B2016 | $1.03B2025 | −1.4%/yr | |
| Total liabilities | $594.9M2016 | $1.29B2025 | +9.0%/yr | |
| Shareholders’ equity | $577.4M2016 | −$259.6M2025 | — | |
| Cash & short-term investments | $11.6M2016 | $138.4M2025 | +31.7%/yr | |
| Total debt | $365.4M2016 | $1.09B2025 | +13.0%/yr | |
| Net cash (debt) | −$353.8M2016 | −$956.3M2025 | −$602.5M | |
| Working capital | $218.5M2016 | $356.3M2025 | +$137.8M | |
| Current ratio | 2.942016 | 3.782025 | +0.84 | |
| Debt / equity | 0.632016 | 11.902023 | +11.26 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
EAF assets
EAF liabilities and equity
EAF debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
EAF balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $138.4M | $256.2M | $176.9M | $134.6M | $57.5M | $145.4M | $80.9M | $49.9M | $13.4M | $11.6M |
| Cash & equivalents | $138.4M | $256.2M | $176.9M | $134.6M | $57.5M | $145.4M | $80.9M | $49.9M | $13.4M | $11.6M |
| Short-term investments | — | — | — | $17.7M | — | — | $253,000 | $0 | $9,000 | $10,000 |
| Receivables | $73.2M | $115.5M | $130.0M | $185.0M | $249.6M | $194.8M | $247.1M | $248.3M | $135.5M | $93.6M |
| Inventory | $224.7M | $245.4M | $345.4M | $447.7M | $301.8M | $277.8M | $313.6M | $293.7M | $185.2M | $156.1M |
| Other current assets | $48.2M | $19.6M | $22.5M | $47.9M | $18.9M | $11.1M | $40.9M | $46.2M | $20.5M | $69.7M |
| Total current assets | $484.5M | $636.8M | $674.8M | $815.2M | $627.9M | $629.2M | $682.6M | $638.1M | $354.5M | $330.9M |
| Property, plant & equipment (net) | $489.9M | $489.0M | $527.1M | $519.1M | $501.5M | $506.2M | $521.0M | $513.7M | $512.8M | $508.9M |
| Goodwill & intangible assets | $27.1M | $34.4M | $42.4M | $222.7M | $232.8M | $243.5M | $255.0M | $267.1M | $280.0M | $293.6M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $2.7M | $0 | $0 | $0 |
| Other non-current assets | $27.3M | $64.1M | $44.6M | $47.1M | $50.2M | $53.8M | $64.9M | $86.6M | $51.7M | $38.9M |
| Total assets | $1.03B | $1.22B | $1.29B | $1.60B | $1.41B | $1.43B | $1.53B | $1.51B | $1.20B | $1.17B |
| Liabilities | ||||||||||
| Accounts payable | $67.0M | $72.8M | $83.3M | $103.2M | $117.1M | $71.0M | $78.7M | $88.1M | $69.1M | $47.7M |
| Short-term debt | $0 | $2.2M | $134,000 | $124,000 | $127,000 | $131,000 | $141,000 | $106.3M | $16.5M | $8.9M |
| Deferred revenue | — | $11.2M | $31.6M | $27.9M | $9.8M | $13.1M | $11.8M | $5.4M | $20.8M | $19.8M |
| Total current liabilities | $128.2M | $139.9M | $190.5M | $237.9M | $234.6M | $198.1M | $220.2M | $327.1M | $2.17B | $112.4M |
| Long-term debt | $1.09B | $1.09B | $925.7M | $921.8M | $1.03B | $1.42B | $1.81B | $2.05B | $322.9M | $356.6M |
| Other long-term liabilities | $65.5M | $76.1M | $94.4M | $106.8M | $124.8M | $144.0M | $184.3M | $204.8M | $111.0M | $125.9M |
| Total liabilities | $1.29B | $1.30B | $1.21B | $1.27B | $1.39B | $1.76B | $2.22B | $2.58B | $2.61B | $594.9M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $2.6M | $2.6M | $2.6M | $2.6M | $2.6M | $2.7M | $2.7M | $2.9M | $3.0M | $3.0M |
| Retained earnings (deficit) | −$1.01B | −$793.5M | −$662.4M | −$401.9M | −$733.2M | −$1.07B | −$1.45B | −$1.89B | −$2.28B | −$269.4M |
| Treasury stock | — | — | — | — | — | — | — | — | — | $0 |
| Accumulated other comprehensive income | −$9.0M | −$43.4M | −$11.5M | −$8.1M | −$7.4M | −$19.6M | −$7.4M | −$5.8M | $20.3M | −$7.6M |
| Minority interest | — | — | — | — | — | — | — | — | — | $0 |
| Total shareholders' equity | −$259.6M | −$78.9M | $78.2M | $337.7M | $23.4M | −$329.4M | −$691.1M | −$1.08B | −$1.41B | $577.4M |
| Key figures | ||||||||||
| Total debt | $1.09B | $1.09B | $930.8M | $921.9M | $1.03B | $1.42B | $1.81B | $2.16B | $339.4M | $365.4M |
| Net cash (debt) | −$956.3M | −$837.2M | −$753.9M | −$787.3M | −$972.2M | −$1.27B | −$1.73B | −$2.11B | −$326.0M | −$353.8M |
| Working capital | $356.3M | $496.9M | $484.2M | $577.4M | $393.3M | $431.1M | $462.4M | $310.9M | −$1.82B | $218.5M |
| Tangible book value | −$286.7M | −$113.3M | $35.9M | $115.1M | −$209.4M | −$572.9M | −$946.0M | −$1.34B | −$1.69B | $283.8M |
| Book value per share | −$9.98 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 26.0M | — | — | — | — | — | — | — | — | — |
| Current ratio | 3.78 | 4.55 | 3.54 | 3.43 | 2.68 | 3.18 | 3.10 | 1.95 | 0.16 | 2.94 |
| Quick ratio | 1.65 | 2.66 | 1.61 | 1.34 | 1.31 | 1.72 | 1.49 | 0.91 | 0.07 | 0.94 |
| Debt / equity | — | — | 11.90 | 2.73 | 44.00 | — | — | — | — | 0.63 |
| Equity / assets | −25.2% | −6.4% | 6.1% | 21.1% | 1.7% | −23.0% | −45.3% | −71.5% | −117.5% | 49.3% |
| 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 | $145.4M | $120.2M | $138.4M | $177.6M | $158.5M | $214.3M | $256.2M | $141.4M | $120.7M | $165.2M | $176.9M | $172.8M |
| Cash & equivalents | $145.4M | $120.2M | $138.4M | $177.6M | $158.5M | $214.3M | $256.2M | $141.4M | $120.7M | $165.2M | $176.9M | $172.8M |
| Receivables | $76.2M | $79.9M | $73.2M | $88.3M | $90.8M | $89.6M | $115.5M | $89.5M | $95.0M | $91.6M | $101.4M | $97.3M |
| Inventory | $237.3M | $223.1M | $224.7M | $243.3M | $255.9M | $254.3M | $231.2M | $266.5M | $304.8M | $302.9M | $345.4M | $379.0M |
| Other current assets | $58.4M | $42.9M | $48.2M | $60.6M | $61.2M | $60.4M | $33.8M | $60.6M | $62.4M | $60.4M | $51.1M | $64.3M |
| Total current assets | $517.2M | $466.2M | $484.5M | $569.8M | $566.5M | $618.5M | $636.8M | $558.0M | $583.0M | $620.0M | $674.8M | $713.4M |
| Property, plant & equipment (net) | $473.5M | $985.1M | $489.9M | $968.9M | $488.4M | $481.4M | $482.7M | $496.7M | $495.6M | $507.2M | $527.1M | $511.2M |
| Goodwill & intangible assets | $23.6M | $25.3M | $27.1M | $28.8M | $30.6M | $32.5M | $34.4M | $36.3M | $38.3M | $40.3M | $42.4M | $215.5M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $28.7M | $0 | $27.3M | $0 | $26.6M | $75.3M | $70.4M | $52.0M | $46.2M | $48.3M | $44.6M | $43.0M |
| Total assets | $1.04B | $997.2M | $1.03B | $1.11B | $1.11B | $1.21B | $1.22B | $1.14B | $1.16B | $1.22B | $1.29B | $1.48B |
| Liabilities | ||||||||||||
| Accounts payable | $68.4M | $68.7M | $67.0M | $62.3M | $50.4M | $70.6M | $72.8M | $55.1M | $61.0M | $60.3M | $83.3M | $54.9M |
| Short-term debt | — | — | $0 | $0 | $0 | $0 | $2.2M | $139,000 | $132,000 | $132,000 | $2.8M | $127,000 |
| Deferred revenue | — | — | — | $11.2M | $11.2M | $11.2M | $11.2M | — | $18.1M | $23.7M | $31.6M | $8.4M |
| Total current liabilities | $125.1M | $140.1M | $128.2M | $135.0M | $114.4M | $148.6M | $139.9M | $147.2M | $138.1M | $166.4M | $190.5M | $169.2M |
| Long-term debt | $1.20B | $1.10B | $1.09B | $1.09B | $1.09B | $1.09B | $1.09B | $929.3M | $928.0M | $926.8M | $0 | $924.4M |
| Other long-term liabilities | $64.8M | $64.9M | $65.5M | $74.5M | $75.2M | $75.7M | $76.1M | $75.5M | $80.6M | $85.0M | $1.02B | $100.6M |
| Total liabilities | $1.39B | $1.30B | $1.29B | $1.30B | $1.28B | $1.31B | $1.30B | $1.15B | $1.15B | $1.18B | $1.21B | $1.19B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $2.6M | $2.6M | $2.6M | $2.6M | $2.6M | $2.6M | $2.6M | $2.6M | $2.6M | $2.6M | $2.6M | $2.6M |
| Retained earnings (deficit) | −$1.10B | −$1.06B | −$1.01B | −$947.8M | −$919.3M | −$832.5M | −$793.5M | −$744.0M | −$707.9M | −$693.2M | −$662.4M | −$445.0M |
| Accumulated other comprehensive income | −$13.5M | −$12.0M | −$9.0M | −$7.3M | −$8.9M | −$30.8M | −$43.4M | −$21.4M | −$30.4M | −$22.2M | −$11.5M | −$17.6M |
| Total shareholders' equity | −$345.6M | −$304.4M | −$259.6M | −$194.4M | −$168.4M | −$105.3M | −$78.9M | −$9.0M | $16.2M | $37.6M | $78.2M | $288.9M |
| Key figures | ||||||||||||
| Total debt | $1.20B | $1.10B | $1.09B | $1.09B | $1.09B | $1.09B | $1.09B | $929.5M | $928.2M | $926.9M | $930.8M | $924.5M |
| Net cash (debt) | −$1.05B | −$976.4M | −$956.3M | −$915.1M | −$932.3M | −$874.6M | −$837.2M | −$788.0M | −$807.5M | −$761.7M | −$753.9M | −$751.7M |
| Working capital | $392.1M | $326.1M | $356.3M | $434.8M | $452.0M | $470.0M | $496.9M | $410.8M | $444.9M | $453.6M | $484.2M | $544.1M |
| Tangible book value | −$369.1M | −$329.7M | −$286.7M | −$223.1M | −$199.0M | −$137.8M | −$113.3M | −$45.3M | −$22.0M | −$2.7M | $35.9M | $73.3M |
| Book value per share | −$13.16 | −$11.67 | −$9.97 | −$7.49 | −$6.50 | −$4.08 | — | — | — | — | — | — |
| Shares outstanding | 26.3M | 26.1M | 26.0M | 25.9M | 25.9M | 25.8M | — | — | — | — | — | — |
| Current ratio | 4.13 | 3.33 | 3.78 | 4.22 | 4.95 | 4.16 | 4.55 | 3.79 | 4.22 | 3.73 | 3.54 | 4.21 |
| Quick ratio | 1.77 | 1.43 | 1.65 | 1.97 | 2.18 | 2.05 | 2.66 | 1.57 | 1.56 | 1.54 | 1.46 | 1.60 |
| Debt / equity | — | — | — | — | — | — | — | — | 57.16 | 24.64 | 11.90 | 3.20 |
| Equity / assets | −33.1% | −30.5% | −25.2% | −17.5% | −15.1% | −8.7% | −6.4% | −0.8% | 1.4% | 3.1% | 6.1% | 19.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 13, 2026); data from EODHD.
EAF financial position
At the end of fiscal 2025 (December 31, 2025), GrafTech International had total assets of $1.0 billion (down 16.0% from a year earlier), total liabilities of $1.3 billion and shareholders' equity of -$259.6 million. It held $138.4 million in cash and short-term investments against $1.1 billion of debt, net debt of $956.3 million. Its current ratio was 3.78. In the latest quarter (ended June 30, 2026) total assets were $1.0 billion and equity -$345.6 million.
Related: EAF income statement, EAF cash flow statement, EAF key metrics. See the EAF stock overview for the latest quote and news.
EAF balance sheet FAQ
What are GrafTech International's total assets?
GrafTech International reported total assets of $1.0 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.2 billion a year earlier.
How much debt does GrafTech International have?
GrafTech International had $1.1 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was —.
How much cash does GrafTech International have?
GrafTech International held $138.4 million in cash and short-term investments at the end of fiscal 2025; with $1.1 billion of debt that is net debt of $956.3 million.
What is GrafTech International's book value?
GrafTech International's shareholders' equity (book value) was -$259.6 million at the end of fiscal 2025, or −$9.98 per share.
What is GrafTech International's current ratio?
GrafTech International had current assets of $484.5 million and current liabilities of $128.2 million, a current ratio of 3.78 (it can cover its short-term obligations).
How much goodwill does GrafTech International have?
GrafTech International carried $27.1 million of goodwill and intangible assets, 2.6% of total assets, at the end of fiscal 2025.