FatPipe, Inc. (FATN) Balance Sheet
FATN balance sheet, FY2026
March 31, 2026 · U.S. dollars$34.5M assets = $9.3M liabilities + $25.2M equity
Both columns are drawn to the same scale: what FATN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FATN financial health
Descriptive bands, not a rating. Fiscal FY2026.
FATN balance sheet trends, FY2022–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $10.8MFY2022 | $34.5MFY2026 | +33.7%/yr | |
| Total liabilities | $4.0MFY2022 | $9.3MFY2026 | +23.2%/yr | |
| Shareholders’ equity | $6.6MFY2022 | $25.2MFY2026 | +40.0%/yr | |
| Cash & short-term investments | $1.4MFY2022 | $5.2MFY2026 | +39.5%/yr | |
| Total debt | $942,183FY2022 | $5.7MFY2026 | +56.9%/yr | |
| Net cash (debt) | $433,669FY2022 | −$493,351FY2026 | −$927,020 | |
| Working capital | $3.1MFY2022 | $12.2MFY2026 | +$9.1M | |
| Book value per share | $0.48FY2022 | $1.80FY2026 | +39.4%/yr | |
| Current ratio | 1.98FY2022 | 3.85FY2026 | +1.87 | |
| Debt / equity | 0.14FY2022 | 0.23FY2026 | +0.08 | |
| Shares outstanding | 13.8MFY2022 | 14.0MFY2026 | +0.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FATN assets
FATN liabilities and equity
FATN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FATN balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $5.2M | $2.9M | $1.1M | $1.1M | $1.4M |
| Cash & equivalents | $5.2M | $2.9M | $1.1M | $1.1M | $1.4M |
| Receivables | $10.7M | $9.0M | $7.5M | $4.8M | $4.1M |
| Inventory | $445,842 | $419,677 | $113,522 | $355,950 | $655,988 |
| Other current assets | $125,271 | $666,376 | $582,392 | $1.0M | $138,844 |
| Total current assets | $16.5M | $13.0M | $9.3M | $7.2M | $6.3M |
| Property, plant & equipment (net) | $1.1M | $1.5M | $280,475 | $801,157 | $139,887 |
| Goodwill & intangible assets | $694,192 | $1.0M | $1.6M | $2.2M | $2.6M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $16.2M | $12.8M | $10.3M | $5.5M | $1.7M |
| Total assets | $34.5M | $28.3M | $21.4M | $15.7M | $10.8M |
| Liabilities | |||||
| Accounts payable | $390,174 | $437,253 | $417,527 | $241,107 | $74,511 |
| Short-term debt | $792,803 | $830,099 | $284,152 | $412,758 | $86,352 |
| Deferred revenue | $1.1M | $1.4M | $1.5M | $1.8M | $2.2M |
| Total current liabilities | $4.3M | $6.5M | $4.7M | $4.0M | $3.2M |
| Long-term debt | $4.2M | $4.6M | $2.5M | $2.0M | $855,831 |
| Lease obligations | $1.1M | $1.5M | $214,715 | $629,036 | — |
| Other long-term liabilities | $804,255 | $1.2M | $166,570 | $216,278 | $0 |
| Total liabilities | $9.3M | $12.4M | $7.4M | $6.2M | $4.0M |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $132,245 | $130,265 | $124,493 | $124,493 | $124,493 |
| Retained earnings (deficit) | $16.1M | $11.1M | $9.0M | $4.7M | $1.9M |
| Accumulated other comprehensive income | $2.9M | $3.1M | $3.3M | $3.1M | $3.0M |
| Minority interest | $0 | $0 | $112,654 | $190,289 | — |
| Total shareholders' equity | $25.2M | $15.9M | $13.9M | $9.4M | $6.6M |
| Key figures | |||||
| Total debt | $5.7M | $6.6M | $2.8M | $2.6M | $942,183 |
| Net cash (debt) | −$493,351 | −$3.7M | −$1.7M | −$1.6M | $433,669 |
| Working capital | $12.2M | $6.5M | $4.6M | $3.3M | $3.1M |
| Tangible book value | $24.5M | $14.9M | $12.4M | $7.2M | $3.9M |
| Book value per share | $1.80 | $1.24 | $0.92 | $0.68 | $0.48 |
| Shares outstanding | 14.0M | 12.9M | 15.1M | 13.8M | 13.8M |
| Current ratio | 3.85 | 2.00 | 1.98 | 1.83 | 1.98 |
| Quick ratio | 3.72 | 1.83 | 1.83 | 1.49 | 1.73 |
| Debt / equity | 0.23 | 0.41 | 0.20 | 0.28 | 0.14 |
| Equity / assets | 73.0% | 56.3% | 65.0% | 59.6% | 60.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Mar '24 | |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Cash & short-term investments | $4.3M | $5.2M | $6.2M | $6.2M | $5.9M | $2.9M | $1.6M | $845,850 | $1.1M |
| Cash & equivalents | $4.3M | $5.2M | $6.2M | $6.2M | $5.9M | $2.9M | $1.6M | $845,850 | $1.1M |
| Receivables | $11.1M | $26.5M | $10.1M | $9.8M | $9.4M | $9.0M | $8.4M | $8.5M | $7.5M |
| Inventory | $769,903 | $445,842 | $167,348 | $328,736 | $408,160 | $419,677 | $442,832 | $162,471 | $113,522 |
| Other current assets | $203,752 | $0 | $153,550 | $230,169 | $639,878 | $666,376 | $682,305 | $970,168 | $582,392 |
| Total current assets | $16.4M | $16.5M | $16.6M | $16.6M | $16.3M | $13.0M | $11.2M | $10.5M | $9.3M |
| Property, plant & equipment (net) | $1.0M | $1.1M | $1.2M | $1.3M | $1.5M | $1.5M | $1.2M | $1.5M | $280,475 |
| Goodwill & intangible assets | $661,041 | $694,192 | $764,800 | $860,748 | $964,165 | $1.0M | $1.2M | $1.3M | $1.6M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $17.4M | $16.2M | $13.8M | $13.4M | $13.3M | $12.8M | $12.2M | $11.9M | $10.3M |
| Total assets | $35.5M | $34.5M | $32.4M | $32.2M | $32.0M | $28.3M | $25.7M | $25.2M | $21.4M |
| Liabilities | |||||||||
| Accounts payable | $631,997 | $390,174 | $352,184 | $294,762 | $310,227 | $437,253 | $331,672 | $346,791 | $417,527 |
| Short-term debt | $891,109 | $792,803 | $811,451 | $962,393 | $1.1M | $830,099 | $133,652 | $260,172 | $284,152 |
| Deferred revenue | $919,245 | $1.1M | $1.1M | $1.1M | $1.2M | $1.4M | $1.2M | $1.2M | $1.5M |
| Total current liabilities | $4.1M | $4.3M | $6.1M | $6.1M | $6.3M | $6.5M | $4.9M | $5.2M | $4.7M |
| Long-term debt | $4.1M | $4.2M | $4.2M | $4.2M | $4.2M | $4.6M | $3.0M | $2.5M | $2.5M |
| Lease obligations | $986,978 | $1.1M | $1.2M | $1.3M | $1.4M | $1.5M | $1.1M | $1.3M | $214,715 |
| Other long-term liabilities | $697,791 | $804,255 | $911,376 | $1.0M | $1.1M | $1.2M | $1.2M | $1.3M | $166,570 |
| Total liabilities | $9.0M | $9.3M | $11.2M | $11.3M | $11.6M | $12.4M | $9.1M | $8.9M | $7.4M |
| Shareholders' equity | |||||||||
| Common stock & paid-in capital | $141,255 | $132,245 | $131,245 | $131,245 | $130,265 | $130,265 | $130,265 | $130,265 | $124,493 |
| Retained earnings (deficit) | $17.3M | $16.1M | $12.1M | $11.8M | $11.8M | $11.1M | $11.4M | $11.3M | $9.0M |
| Accumulated other comprehensive income | $2.8M | $2.9M | $3.0M | $3.0M | $3.0M | $3.1M | $3.6M | $3.3M | $3.3M |
| Minority interest | — | $0 | $0 | $0 | $0 | — | — | — | — |
| Total shareholders' equity | $26.5M | $25.2M | $21.2M | $21.0M | $20.4M | $15.9M | $16.7M | $16.3M | $13.9M |
| Key figures | |||||||||
| Total debt | $5.6M | $5.7M | $5.8M | $6.1M | $6.3M | $6.6M | $4.2M | $3.9M | $2.8M |
| Net cash (debt) | −$1.3M | −$493,351 | $368,409 | $177,906 | −$403,844 | −$3.7M | −$2.6M | −$3.1M | −$1.7M |
| Working capital | $12.3M | $12.2M | $10.4M | $10.5M | $10.0M | $6.5M | $6.2M | $5.3M | $4.6M |
| Tangible book value | $25.9M | $24.5M | $20.4M | $20.1M | $19.4M | $14.9M | $15.5M | $15.0M | $12.4M |
| Book value per share | $1.88 | $1.80 | $1.52 | $1.51 | $1.48 | $1.20 | $1.21 | $1.08 | $1.01 |
| Shares outstanding | 14.1M | 14.0M | 13.9M | 13.9M | 13.8M | 13.3M | 13.8M | 15.1M | 13.8M |
| Current ratio | 3.98 | 3.85 | 2.71 | 2.74 | 2.59 | 2.00 | 2.27 | 2.03 | 1.98 |
| Quick ratio | 3.74 | 7.42 | 2.65 | 2.65 | 2.43 | 1.83 | 2.04 | 1.81 | 1.83 |
| Debt / equity | 0.21 | 0.23 | 0.27 | 0.29 | 0.31 | 0.41 | 0.25 | 0.24 | 0.20 |
| Equity / assets | 74.7% | 73.0% | 65.4% | 65.1% | 63.7% | 56.3% | 64.7% | 64.6% | 65.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed May 18, 2026); data from EODHD.
FATN financial position
At the end of fiscal 2026 (March 31, 2026), FatPipe had total assets of $34.5 million (up 22.0% from a year earlier), total liabilities of $9.3 million and shareholders' equity of $25.2 million. It held $5.2 million in cash and short-term investments against $5.7 million of debt, net debt of $0.5 million. Its current ratio was 3.85. In the latest quarter (ended June 30, 2026) total assets were $35.5 million and equity $26.5 million.
Related: FATN income statement, FATN cash flow statement, FATN key metrics. See the FATN stock overview for the latest quote and news.
FATN balance sheet FAQ
What are FatPipe's total assets?
FatPipe reported total assets of $34.5 million at the end of fiscal 2026 (March 31, 2026), compared with $28.3 million a year earlier.
How much debt does FatPipe have?
FatPipe had $5.7 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.23.
How much cash does FatPipe have?
FatPipe held $5.2 million in cash and short-term investments at the end of fiscal 2026; with $5.7 million of debt that is net debt of $0.5 million.
What is FatPipe's book value?
FatPipe's shareholders' equity (book value) was $25.2 million at the end of fiscal 2026, or $1.80 per share.
What is FatPipe's current ratio?
FatPipe had current assets of $16.5 million and current liabilities of $4.3 million, a current ratio of 3.85 (it can cover its short-term obligations).
How much goodwill does FatPipe have?
FatPipe carried $0.7 million of goodwill and intangible assets, 2.0% of total assets, at the end of fiscal 2026.