EuroDry Ltd. (EDRY) Balance Sheet
EDRY balance sheet, 2025
December 31, 2025 · U.S. dollars$212.1M assets = $109.6M liabilities + $102.5M equity
Both columns are drawn to the same scale: what EDRY owns equals what it owes plus shareholders’ equity. Hover a block for its value.
EDRY financial health
Descriptive bands, not a rating. Fiscal 2025.
EDRY balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $86.7M2016 | $212.1M2025 | +10.5%/yr | |
| Total liabilities | $55.6M2016 | $109.6M2025 | +7.8%/yr | |
| Shareholders’ equity | $31.1M2016 | $93.3M2025 | +13.0%/yr | |
| Cash & short-term investments | $591,1082016 | $22.5M2025 | +49.8%/yr | |
| Total debt | $29.5M2016 | $102.9M2025 | +14.9%/yr | |
| Net cash (debt) | −$28.9M2016 | −$80.4M2025 | −$51.5M | |
| Working capital | $695,3212016 | $9.9M2025 | +$9.2M | |
| Book value per share | $13.792016 | $33.852025 | +10.5%/yr | |
| Current ratio | 1.332016 | 1.532025 | +0.20 | |
| Debt / equity | 0.952016 | 1.102025 | +0.15 | |
| Shares outstanding | 2.3M2016 | 2.8M2025 | +2.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
EDRY assets
EDRY liabilities and equity
EDRY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
EDRY balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $22.5M | $6.7M | $10.8M | $35.2M | $26.8M | $938,282 | $5.4M | $4.4M | $1.3M | $591,108 |
| Cash & equivalents | $22.5M | $6.7M | $8.0M | $35.2M | $26.8M | $938,282 | $5.4M | $4.4M | $1.3M | $591,108 |
| Short-term investments | — | — | $2.8M | $1.4M | — | — | — | — | $894,000 | $502,000 |
| Receivables | $4.2M | $9.5M | $8.9M | $9.9M | $2.0M | $2.0M | $2.3M | $8.5M | $4.9M | $1.4M |
| Inventory | $1.3M | $2.1M | $4.1M | $1.1M | $770,342 | $1.4M | $508,711 | $566,947 | $452,191 | $268,120 |
| Other current assets | $595,677 | $5.0M | $440,007 | $1.7M | $774,337 | $1.7M | $1.4M | $976,744 | $967,019 | $545,459 |
| Total current assets | $28.6M | $23.3M | $24.2M | $47.9M | $30.4M | $6.1M | $9.6M | $14.5M | $7.6M | $2.8M |
| Property, plant & equipment (net) | $180.3M | $192.7M | $203.5M | $149.0M | $128.5M | $99.3M | $105.5M | $110.6M | $82.0M | $64.4M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5,680 | $51,453 | $0 |
| Other non-current assets | $3.2M | $3.8M | $3.3M | $2.6M | $2.4M | $2.1M | $2.6M | $2.6M | $7.8M | $19.4M |
| Total assets | $212.1M | $219.7M | $231.1M | $199.5M | $161.3M | $107.5M | $117.7M | $127.7M | $97.5M | $86.7M |
| Liabilities | ||||||||||
| Accounts payable | $2.2M | $2.7M | $3.1M | $3.0M | $855,825 | $1.1M | $1.0M | $690,653 | $346,968 | $309,338 |
| Short-term debt | $12.0M | $11.8M | $17.8M | $22.9M | $13.9M | $13.8M | $6.8M | $11.0M | $8.0M | $1.3M |
| Deferred revenue | $842,172 | $247,294 | $346,838 | $351,636 | $1.5M | $246,125 | $445,824 | $196,231 | $289,738 | $80,546 |
| Total current liabilities | $18.7M | $18.8M | $25.5M | $27.2M | $17.7M | $19.3M | $11.2M | $13.0M | $9.6M | $2.1M |
| Long-term debt | $90.9M | $95.4M | $86.1M | $58.4M | $64.7M | $37.3M | $49.7M | $56.4M | $30.4M | $28.2M |
| Other long-term liabilities | $0 | $0 | $17,769 | $0 | $0 | $393,899 | $304,174 | $0 | $24.6M | $25.2M |
| Total liabilities | $109.6M | $114.1M | $111.6M | $85.6M | $82.4M | $57.0M | $61.2M | $65.4M | $64.6M | $55.6M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $28,905 | $28,266 | $28,324 | $29,026 | $29,192 | $23,482 | $23,046 | $22,799 | $42.5M | $41.6M |
| Retained earnings (deficit) | $24.7M | $29.0M | $41.6M | $44.5M | $10.9M | −$18.5M | −$11.0M | −$9.1M | −$9.7M | −$10.5M |
| Accumulated other comprehensive income | — | $0 | $0 | $0 | $0 | −$39.5M | −$32.9M | −$26.5M | −$21.1M | −$16.3M |
| Minority interest | $9.2M | $8.9M | $9.8M | $0 | — | — | — | — | — | — |
| Total shareholders' equity | $93.3M | $96.7M | $109.7M | $113.9M | $78.9M | $50.5M | $56.5M | $62.3M | $32.9M | $31.1M |
| Key figures | ||||||||||
| Total debt | $102.9M | $107.2M | $103.9M | $81.2M | $78.7M | $51.1M | $56.5M | $67.4M | $38.3M | $29.5M |
| Net cash (debt) | −$80.4M | −$100.5M | −$93.1M | −$46.0M | −$51.8M | −$50.2M | −$51.1M | −$63.0M | −$37.1M | −$28.9M |
| Working capital | $9.9M | $4.6M | −$1.3M | $20.7M | $12.7M | −$13.2M | −$1.6M | $1.5M | −$2.0M | $695,321 |
| Tangible book value | $93.3M | $96.7M | $109.7M | $113.9M | $78.9M | $50.5M | $56.5M | $62.3M | $32.9M | $31.1M |
| Book value per share | $33.85 | $35.47 | $39.69 | $39.43 | $30.96 | $22.21 | $25.11 | $27.90 | $14.57 | $13.79 |
| Shares outstanding | 2.8M | 2.7M | 2.8M | 2.9M | 2.5M | 2.3M | 2.3M | 2.2M | 2.3M | 2.3M |
| Current ratio | 1.53 | 1.24 | 0.95 | 1.76 | 1.72 | 0.31 | 0.86 | 1.11 | 0.79 | 1.33 |
| Quick ratio | 1.43 | 0.87 | 0.77 | 1.66 | 1.63 | 0.15 | 0.69 | 0.99 | 0.64 | 0.94 |
| Debt / equity | 1.10 | 1.11 | 0.95 | 0.71 | 1.00 | 1.01 | 1.00 | 1.08 | 1.17 | 0.95 |
| Equity / assets | 44.0% | 44.0% | 47.5% | 57.1% | 48.9% | 47.0% | 48.0% | 48.8% | 33.7% | 35.9% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $28.4M | $28.4M | $21.5M | $22.5M | $8.7M | $6.2M | $6.2M | $6.7M | $2.6M | $5.9M | $9.4M | $10.8M |
| Cash & equivalents | $28.4M | $28.4M | $21.5M | $22.5M | $8.7M | $6.2M | $6.2M | $6.7M | $2.6M | $5.9M | $9.4M | $10.8M |
| Short-term investments | — | — | — | — | — | — | — | — | — | — | $196,627 | — |
| Receivables | $4.9M | $4.9M | $5.1M | $4.2M | $5.1M | $6.4M | $8.0M | $8.4M | $10.4M | $9.9M | $9.9M | $8.9M |
| Inventory | $1.2M | $1.2M | $1.1M | $1.3M | $1.1M | $1.8M | $1.4M | $2.1M | $1.9M | $2.6M | $3.5M | $4.1M |
| Other current assets | $397,750 | $397,750 | $554,531 | $595,677 | $8.2M | $2.3M | $2.3M | $7.5M | $1.8M | $566,606 | $523,310 | $440,007 |
| Total current assets | $35.0M | $35.0M | $28.3M | $28.6M | $23.1M | $16.8M | $17.8M | $24.8M | $16.7M | $19.0M | $23.3M | $24.2M |
| Property, plant & equipment (net) | $174.6M | $174.6M | $177.4M | $180.3M | $175.8M | $186.3M | $189.5M | $185.5M | $194.4M | $197.2M | $200.3M | $203.5M |
| 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 | $2.9M | $2.9M | $3.4M | $3.2M | $3.2M | $3.5M | $3.7M | $10.9M | $3.6M | $3.7M | $3.4M | $3.3M |
| Total assets | $212.5M | $212.5M | $209.1M | $212.1M | $202.1M | $206.6M | $211.0M | $221.2M | $214.7M | $219.9M | $227.1M | $231.1M |
| Liabilities | ||||||||||||
| Accounts payable | $1.8M | $1.8M | $2.0M | $2.2M | $1.9M | $2.3M | $2.6M | $2.7M | $5.4M | $2.7M | $5.0M | $3.1M |
| Short-term debt | $21.7M | $21.7M | $11.8M | $12.0M | $12.2M | $12.4M | $12.6M | $11.8M | $10.9M | $13.6M | $16.9M | $17.8M |
| Deferred revenue | $1.0M | $1.0M | $740,296 | $842,172 | $1.5M | $495,986 | $364,905 | — | $575,527 | $545,746 | $148,860 | $346,838 |
| Total current liabilities | $27.4M | $27.4M | $17.6M | $18.7M | $18.2M | $18.4M | $17.5M | $17.3M | $19.9M | $19.4M | $26.2M | $25.5M |
| Long-term debt | $0 | $75.7M | $88.3M | $90.9M | $84.9M | $88.9M | $91.6M | $95.4M | $83.0M | $83.7M | $83.8M | $86.1M |
| Other long-term liabilities | $75.7M | $0 | $0 | $0 | $9,171 | $11,109 | $0 | $0 | $50,671 | $0 | $0 | $17,769 |
| Total liabilities | $103.0M | $103.0M | $105.9M | $109.6M | $103.1M | $107.3M | $109.1M | $112.6M | $103.0M | $103.2M | $110.0M | $111.6M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $28,664 | $28,664 | $28,904 | $28,905 | $28,266 | $28,266 | $28,266 | $28,266 | $27,879 | $27,879 | $28,017 | $28,324 |
| Retained earnings (deficit) | $31.5M | $31.5M | $25.0M | $24.7M | $21.5M | $22.2M | $25.3M | $31.9M | $35.2M | $39.4M | $39.8M | $41.6M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | $0 | — | — | $0 | $0 |
| Minority interest | — | $9.4M | $9.4M | $9.2M | $9.1M | $8.9M | — | — | — | — | — | — |
| Total shareholders' equity | $100.1M | $100.1M | $93.8M | $93.3M | $89.9M | $90.5M | $93.3M | $99.7M | $103.0M | $107.0M | $107.4M | $109.7M |
| Key figures | ||||||||||||
| Total debt | $97.4M | $97.4M | $100.1M | $102.9M | $97.1M | $101.3M | $104.2M | $107.2M | $93.9M | $97.3M | $100.6M | $103.9M |
| Net cash (debt) | −$68.9M | −$68.9M | −$78.6M | −$80.4M | −$88.4M | −$95.1M | −$98.0M | −$100.5M | −$91.3M | −$91.4M | −$91.2M | −$93.1M |
| Working capital | $7.6M | $7.6M | $10.7M | $9.9M | $4.9M | −$1.6M | $319,154 | $7.5M | −$3.2M | −$477,572 | −$2.9M | −$1.3M |
| Tangible book value | $100.1M | $100.1M | $93.8M | $93.3M | $89.9M | $90.5M | $93.3M | $99.7M | $103.0M | $107.0M | $107.4M | $109.7M |
| Book value per share | $35.21 | $35.21 | $33.53 | $33.30 | $32.50 | $33.05 | $34.08 | $36.42 | $37.74 | $39.46 | $39.31 | $39.72 |
| Shares outstanding | 2.8M | 2.8M | 2.8M | 2.8M | 2.8M | 2.7M | 2.7M | 2.7M | 2.7M | 2.7M | 2.7M | 2.8M |
| Current ratio | 1.28 | 1.28 | 1.61 | 1.53 | 1.27 | 0.91 | 1.02 | 1.44 | 0.84 | 0.98 | 0.89 | 0.95 |
| Quick ratio | 1.22 | 1.22 | 1.52 | 1.43 | 0.76 | 0.69 | 0.81 | 0.88 | 0.65 | 0.81 | 0.74 | 0.77 |
| Debt / equity | 0.97 | 0.97 | 1.07 | 1.10 | 1.08 | 1.12 | 1.12 | 1.08 | 0.91 | 0.91 | 0.94 | 0.95 |
| Equity / assets | 47.1% | 47.1% | 44.9% | 44.0% | 44.5% | 43.8% | 44.2% | 45.1% | 48.0% | 48.7% | 47.3% | 47.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 28, 2026); data from EODHD.
EDRY financial position
At the end of fiscal 2025 (December 31, 2025), EuroDry had total assets of $212.1 million (down 3.5% from a year earlier), total liabilities of $109.6 million and shareholders' equity of $93.3 million. It held $22.5 million in cash and short-term investments against $102.9 million of debt, net debt of $80.4 million. Its current ratio was 1.53. In the latest quarter (ended September 30, 2026) total assets were $212.5 million and equity $100.1 million.
Related: EDRY income statement, EDRY cash flow statement, EDRY key metrics. See the EDRY stock overview for the latest quote and news.
EDRY balance sheet FAQ
What are EuroDry's total assets?
EuroDry reported total assets of $212.1 million at the end of fiscal 2025 (December 31, 2025), compared with $219.7 million a year earlier.
How much debt does EuroDry have?
EuroDry had $102.9 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 1.10.
How much cash does EuroDry have?
EuroDry held $22.5 million in cash and short-term investments at the end of fiscal 2025; with $102.9 million of debt that is net debt of $80.4 million.
What is EuroDry's book value?
EuroDry's shareholders' equity (book value) was $93.3 million at the end of fiscal 2025, or $33.85 per share.
What is EuroDry's current ratio?
EuroDry had current assets of $28.6 million and current liabilities of $18.7 million, a current ratio of 1.53 (it can cover its short-term obligations).