Ecopetrol S.A. (EC) Balance Sheet

NYSE: ECAssets, liabilities, debt and equity over 10 years.

EC balance sheet, 2025

December 31, 2025 · COP

COP 283.83T assets = COP 174.70T liabilities + COP 109.13T equity

What it ownsCOP 283.83TCash & ST investments: COP 12.52T (4.4%)Receivables: COP 29.36T (10.3%)Receivables COP 29.36TInventory: COP 8.60T (3.0%)Other current: COP 2.91T (1.0%)PP&E: COP 106.98T (37.7%)PP&ECOP 106.98T · 38%Goodwill & intangibles: COP 18.61T (6.6%)COP 18.61TLT investments: COP 9.51T (3.3%)Other non-current: COP 95.34T (33.6%)Other non-currentCOP 95.34T · 34%=How it is financedCOP 283.83TCurrent liabilities: COP 34.48T (12.1%)Current liabilitiesCOP 34.48T · 12%Long-term debt: COP 99.12T (34.9%)Long-term debtCOP 99.12T · 35%Other LT liabilities: COP 41.11T (14.5%)Other LT liabilitiesCOP 41.11T · 14%Shareholders’ equity: COP 109.13T (38.4%)Shareholders’ equityCOP 109.13T · 38%

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

EC financial health

Current ratio1.55
Comfortable · current assets cover current liabilities 1.55×
Debt / equity1.30
Moderate leverage · COP 1.30 of debt for each $1 of equity
Equity / assets29.5%
Balanced · of assets funded by shareholders
Cash / debt11.5%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles6.6%
Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

EC balance sheet trends, 2016–2025

MetricTrendThenLatestChange
Total assetsCOP 121.31T2016COP 283.83T2025+9.9%/yr
Total liabilitiesCOP 75.99T2016COP 174.70T2025+9.7%/yr
Shareholders’ equityCOP 45.32T2016COP 83.67T2025+7.1%/yr
Cash & short-term investmentsCOP 13.78T2016COP 12.52T2025−1.1%/yr
Total debtCOP 52.22T2016COP 109.08T2025+8.5%/yr
Net cash (debt)−COP 38.44T2016−COP 96.56T2025COP 58.1T
Working capitalCOP 7.74T2016COP 18.91T2025COP 11.2T
Current ratio1.4720161.552025+0.08
Debt / equity1.1520161.302025+0.15
Shares outstanding2.06B20162.05B2025−0.0%/yr

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

EC assets

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

EC liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

EC debt vs cash

Total debtCash & ST investmentsNet cash (debt)

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

EC balance sheet in COP

2025202420232022202120202019201820172016
Assets
Cash & short-term investmentsCOP 12.52TCOP 14.91TCOP 14.20TCOP 16.56TCOP 16.18TCOP 7.28TCOP 8.70TCOP 11.63TCOP 10.91TCOP 13.78T
Cash & equivalentsCOP 10.68TCOP 14.05TCOP 12.34TCOP 15.40TCOP 14.55TCOP 5.08TCOP 7.08TCOP 6.31TCOP 7.95TCOP 8.41T
Short-term investmentsCOP 1.84TCOP 851.54BCOP 1.86TCOP 1.16TCOP 1.63TCOP 2.19TCOP 1.62TCOP 5.32TCOP 2.97TCOP 5.37T
ReceivablesCOP 29.36TCOP 19.26TCOP 39.09TCOP 46.01TCOP 24.72TCOP 8.79TCOP 7.22TCOP 9.22TCOP 6.72TCOP 5.34T
InventoryCOP 8.60TCOP 10.03TCOP 10.76TCOP 11.88TCOP 8.40TCOP 5.05TCOP 5.66TCOP 5.10TCOP 4.60TCOP 3.84T
Other current assetsCOP 2.91TCOP 16.45TCOP 4.57TCOP 2.83TCOP 2.40TCOP 1.71TCOP 1.79TCOP 1.07TCOP 985.00BCOP 1.17T
Total current assetsCOP 53.39TCOP 60.64TCOP 68.62TCOP 77.28TCOP 51.70TCOP 22.83TCOP 23.36TCOP 27.03TCOP 23.22TCOP 24.13T
Property, plant & equipment (net)COP 106.98TCOP 156.10TCOP 96.01TCOP 143.95TCOP 126.52TCOP 98.82TCOP 93.73TCOP 85.84TCOP 82.67TCOP 84.61T
Goodwill & intangible assetsCOP 18.61TCOP 21.32TCOP 19.32TCOP 24.71TCOP 20.48TCOP 2.15TCOP 1.64TCOP 1.57TCOP 1.54TCOP 1.43T
Long-term investmentsCOP 9.51TCOP 13.04TCOP 8.79TCOP 11.06TCOP 9.66TCOP 4.05TCOP 6.77TCOP 4.82TCOP 4.93TCOP 3.01T
Other non-current assetsCOP 95.34TCOP 50.24TCOP 89.54TCOP 49.37TCOP 35.89TCOP 11.56TCOP 9.94TCOP 6.98TCOP 8.31TCOP 8.12T
Total assetsCOP 283.83TCOP 301.35TCOP 282.28TCOP 306.37TCOP 244.25TCOP 139.42TCOP 135.45TCOP 126.24TCOP 120.67TCOP 121.31T
Liabilities
Accounts payableCOP 15.74TCOP 15.14TCOP 13.70TCOP 19.94TCOP 13.57TCOP 8.45TCOP 10.69TCOP 8.95TCOP 6.97TCOP 6.86T
Short-term debtCOP 10.07TCOP 11.29TCOP 15.55TCOP 22.20TCOP 9.21TCOP 4.92TCOP 5.01TCOP 4.02TCOP 5.14TCOP 4.13T
Deferred revenue——COP 2.42TCOP 1.33TCOP 1.20TCOP 4.49TCOP 5.29TCOP 1.75TCOP 4.39TCOP 4.93T
Total current liabilitiesCOP 34.48TCOP 39.64TCOP 43.56TCOP 56.78TCOP 30.25TCOP 18.28TCOP 21.74TCOP 17.82TCOP 16.85TCOP 16.39T
Long-term debtCOP 99.12TCOP 108.68TCOP 90.27TCOP 92.94TCOP 85.86TCOP 41.81TCOP 33.23TCOP 34.04TCOP 38.40TCOP 48.10T
Lease obligationsCOP 818.00BCOP 1.51TCOP 1.38TCOP 1.21TCOP 1.17TCOP 1.06TCOP 0COP 0COP 0COP 0
Other long-term liabilitiesCOP 41.11TCOP 43.06TCOP 45.35TCOP 37.56TCOP 34.39TCOP 23.51TCOP 20.14TCOP 15.07TCOP 15.64TCOP 11.51T
Total liabilitiesCOP 174.70TCOP 191.37TCOP 179.18TCOP 187.28TCOP 150.50TCOP 83.60TCOP 75.10TCOP 66.94TCOP 70.89TCOP 75.99T
Shareholders' equity
Common stock & paid-in capitalCOP 25.01TCOP 25.04TCOP 25.04TCOP 25.04TCOP 25.04TCOP 25.04TCOP 25.04TCOP 25.04TCOP 25.04TCOP 25.04T
Retained earnings (deficit)COP 10.45TCOP 40.52TCOP 20.60TCOP 29.81TCOP 14.86TCOP 669.90BCOP 12.33TCOP 9.97TCOP 5.21T−COP 402.46B
Treasury stock——————COP 0COP 0COP 0COP 0
Accumulated other comprehensive incomeCOP 41.60TCOP 11.52TCOP 26.15TCOP 24.70TCOP 21.98TCOP 17.58TCOP 10.43TCOP 13.52TCOP 2.18TCOP 10.78T
Minority interestCOP 25.36TCOP 26.06TCOP 24.55TCOP 27.75T——COP 0COP 0COP 0COP 0
Total shareholders' equityCOP 83.67TCOP 83.70TCOP 103.10TCOP 119.09TCOP 93.75TCOP 55.82TCOP 60.34TCOP 59.30TCOP 49.78TCOP 45.32T
Key figures
Total debtCOP 109.08TCOP 119.97TCOP 105.82TCOP 115.14TCOP 95.06TCOP 46.73TCOP 38.24TCOP 38.06TCOP 43.55TCOP 52.22T
Net cash (debt)−COP 96.56T−COP 105.06T−COP 91.62T−COP 98.57T−COP 78.88T−COP 39.45T−COP 29.54T−COP 26.43T−COP 32.63T−COP 38.44T
Working capitalCOP 18.91TCOP 21.01TCOP 25.05TCOP 20.50TCOP 21.45TCOP 4.55TCOP 1.62TCOP 9.21TCOP 6.38TCOP 7.74T
Tangible book valueCOP 65.06TCOP 62.38TCOP 83.78TCOP 94.38TCOP 73.28TCOP 53.67TCOP 58.70TCOP 57.73TCOP 48.24TCOP 43.89T
Shares outstanding2.05B2.06B2.06B2.06B2.06B2.06B2.06B2.06B2.06B2.06B
Current ratio1.551.531.581.361.711.251.071.521.381.47
Quick ratio1.210.861.221.101.350.880.731.171.051.17
Debt / equity1.301.431.030.971.010.840.630.640.871.15
Equity / assets29.5%27.8%36.5%38.9%38.4%40.0%44.6%47.0%41.3%37.4%

Quarterly columns are labeled by the month the quarter ended. Figures in COP as reported (latest annual report filed April 30, 2026); data from EODHD.

EC financial position

At the end of fiscal 2025 (December 31, 2025), Ecopetrol had total assets of COP 283.83 trillion (down 5.8% from a year earlier), total liabilities of COP 174.70 trillion and shareholders' equity of COP 83.67 trillion. It held COP 12.52 trillion in cash and short-term investments against COP 109.08 trillion of debt, net debt of COP 96.56 trillion. Its current ratio was 1.55. In the latest quarter (ended June 30, 2026) total assets were COP 274.79 trillion and equity COP 82.16 trillion.

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

EC balance sheet FAQ

What are Ecopetrol's total assets?

Ecopetrol reported total assets of COP 283.83 trillion at the end of fiscal 2025 (December 31, 2025), compared with COP 301.35 trillion a year earlier.

How much debt does Ecopetrol have?

Ecopetrol had COP 109.08 trillion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.30.

How much cash does Ecopetrol have?

Ecopetrol held COP 12.52 trillion in cash and short-term investments at the end of fiscal 2025; with COP 109.08 trillion of debt that is net debt of COP 96.56 trillion.

What is Ecopetrol's book value?

Ecopetrol's shareholders' equity (book value) was COP 83.67 trillion at the end of fiscal 2025.

What is Ecopetrol's current ratio?

Ecopetrol had current assets of COP 53.39 trillion and current liabilities of COP 34.48 trillion, a current ratio of 1.55 (it can cover its short-term obligations).

How much goodwill does Ecopetrol have?

Ecopetrol carried COP 18.61 trillion of goodwill and intangible assets, 6.6% of total assets, at the end of fiscal 2025.

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