Flywire Corporation (FLYW) Balance Sheet
FLYW balance sheet, 2025
December 31, 2025 · U.S. dollars$1.25B assets = $418.1M liabilities + $835.2M equity
Both columns are drawn to the same scale: what FLYW owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FLYW financial health
Descriptive bands, not a rating. Fiscal 2025.
FLYW balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $141.0M2019 | $1.25B2025 | +43.9%/yr | |
| Total liabilities | $216.3M2019 | $418.1M2025 | +11.6%/yr | |
| Shareholders’ equity | −$75.3M2019 | $835.2M2025 | — | |
| Cash & short-term investments | $86.0M2019 | $355.0M2025 | +26.6%/yr | |
| Total debt | $24.6M2019 | $1.3M2025 | −38.4%/yr | |
| Net cash (debt) | $61.4M2019 | $353.6M2025 | +$292.3M | |
| Working capital | $25.4M2019 | $200.5M2025 | +$175.1M | |
| Book value per share | −$0.742019 | $6.542025 | — | |
| Current ratio | 1.312019 | 1.502025 | +0.19 | |
| Debt / equity | 0.252021 | 0.002025 | −0.25 | |
| Shares outstanding | 101.1M2019 | 127.7M2025 | +4.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FLYW assets
FLYW liabilities and equity
FLYW debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FLYW balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $355.0M | $611.1M | $654.6M | $349.2M | $385.4M | $104.1M | $86.0M |
| Cash & equivalents | $330.3M | $495.2M | $654.6M | $349.2M | $385.4M | $104.1M | $86.0M |
| Short-term investments | $24.7M | $115.8M | $0 | — | — | — | — |
| Receivables | $210.8M | $129.3M | $142.8M | $81.9M | $44.6M | $35.8M | $19.4M |
| Inventory | $0 | $0 | $0 | $2.0M | $4.0M | $5.0M | $1 |
| Other current assets | $36.5M | $22.5M | $18.2M | $17.5M | $9.8M | $3.8M | $2.7M |
| Total current assets | $602.3M | $762.9M | $815.7M | $450.6M | $443.8M | $148.6M | $108.2M |
| Property, plant & equipment (net) | $22.1M | $17.2M | $15.1M | $13.3M | $9.4M | $5.1M | $4.8M |
| Goodwill & intangible assets | $595.6M | $268.2M | $229.8M | $195.4M | $179.4M | $112.9M | $27.2M |
| Long-term investments | $0 | $50.1M | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $33.3M | $24.0M | $19.1M | $14.9M | $7.0M | $4.9M | $749,000 |
| Total assets | $1.25B | $1.12B | $1.08B | $674.3M | $639.7M | $271.4M | $141.0M |
| Liabilities | |||||||
| Accounts payable | $15.3M | $15.4M | $12.6M | $13.3M | $10.3M | $5.4M | $2.9M |
| Short-term debt | $1.3M | $1.7M | $1.5M | $1.8M | $94.5M | $75.0M | $3.9M |
| Deferred revenue | $20.0M | $7.3M | $7.0M | $5.2M | $5.5M | $1.2M | $1.3M |
| Total current liabilities | $401.8M | $289.8M | $273.8M | $177.3M | $117.9M | $88.4M | $82.8M |
| Long-term debt | $0 | $0 | $0 | $0 | $25.9M | $24.4M | $20.7M |
| Lease obligations | $1.3M | $1.7M | $1.5M | $1.8M | $0 | — | — |
| Other long-term liabilities | $16.4M | $17.9M | $19.8M | $15.1M | $13.5M | $240.5M | $112.8M |
| Total liabilities | $418.1M | $307.7M | $293.6M | $192.4M | $157.3M | $353.2M | $216.3M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $13,000 | $13,000 | $12,000 | $11,000 | $11,000 | $2,000 | $2,000 |
| Retained earnings (deficit) | −$157.4M | −$170.9M | −$173.8M | −$165.2M | −$125.7M | −$97.8M | −$86.7M |
| Treasury stock | — | — | — | −$748,000 | −$748,000 | — | — |
| Accumulated other comprehensive income | $2.5M | −$2.1M | $1.3M | −$1.9M | −$399,000 | −$214,000 | $102,000 |
| Total shareholders' equity | $835.2M | $814.8M | $786.1M | $481.9M | $482.3M | −$81.8M | −$75.3M |
| Key figures | |||||||
| Total debt | $1.3M | $1.7M | $1.5M | $1.8M | $120.4M | $24.4M | $24.6M |
| Net cash (debt) | $353.6M | $609.4M | $653.1M | $347.4M | $264.9M | $79.7M | $61.4M |
| Working capital | $200.5M | $473.1M | $541.9M | $273.4M | $325.9M | $60.2M | $25.4M |
| Tangible book value | $239.6M | $546.5M | $556.3M | $286.5M | $302.9M | −$194.6M | −$102.5M |
| Book value per share | $6.54 | $6.30 | $6.85 | $4.46 | $4.53 | −$0.81 | −$0.74 |
| Shares outstanding | 127.7M | 129.3M | 114.8M | 107.9M | 106.4M | 101.1M | 101.1M |
| Current ratio | 1.50 | 2.63 | 2.98 | 2.54 | 3.76 | 1.68 | 1.31 |
| Quick ratio | 1.41 | 2.55 | 2.91 | 2.43 | 3.65 | 1.58 | 1.27 |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.25 | — | — |
| Equity / assets | 66.6% | 72.6% | 72.8% | 71.5% | 75.4% | −30.1% | −53.4% |
| 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 | $294.2M | $325.1M | $355.0M | $377.3M | $274.2M | $255.3M | $611.1M | $681.1M | $571.0M | $619.0M | $654.61B | $638.2M |
| Cash & equivalents | $282.4M | $311.9M | $330.3M | $354.9M | $249.7M | $190.5M | $495.2M | $565.0M | $539.3M | $619.0M | $654.61B | $638.2M |
| Short-term investments | $11.8M | $13.2M | $24.7M | $22.4M | $24.5M | $64.8M | $115.8M | $116.1M | $31.7M | — | $0 | — |
| Receivables | $147.5M | $148.0M | $210.8M | $187.6M | $135.7M | $109.3M | $129.3M | $169.6M | $118.3M | $103.9M | $142.85B | $105.4M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $0 | $1 |
| Other current assets | $62.7M | $39.3M | $36.5M | $41.1M | $38.9M | $31.9M | $22.5M | $24.8M | $21.6M | $16.2M | $18.23B | $18.8M |
| Total current assets | $504.5M | $512.3M | $602.3M | $606.1M | $448.8M | $396.5M | $762.9M | $875.5M | $710.9M | $739.1M | $815.68B | $762.4M |
| Property, plant & equipment (net) | $26.4M | $24.3M | $22.1M | $20.4M | $18.9M | $17.4M | $17.2M | $17.7M | $17.1M | $15.6M | $15.13B | $15.2M |
| Goodwill & intangible assets | $584.8M | $589.9M | $595.6M | $600.3M | $606.0M | $604.7M | $268.2M | $283.3M | $222.0M | $223.1M | $229.82B | $185.5M |
| Long-term investments | $0 | $0 | $0 | $4.4M | $14.9M | $18.1M | $50.1M | $40.4M | $26.7M | $0 | $0 | $0 |
| Other non-current assets | $47.3M | $35.8M | $33.3M | $28.6M | $25.8M | $23.6M | $24.0M | $23.2M | $22.0M | $20.8M | $19.09B | $19.3M |
| Total assets | $1.16B | $1.16B | $1.25B | $1.26B | $1.11B | $1.06B | $1.12B | $1.24B | $998.7M | $998.7M | $1.08T | $982.4M |
| Liabilities | ||||||||||||
| Accounts payable | $18.2M | $16.0M | $15.3M | $18.9M | $17.5M | $15.1M | $15.4M | $23.2M | $13.5M | $15.4M | $223.51B | $17.6M |
| Short-term debt | — | $1.5M | $1.3M | $1.2M | $1.4M | $1.6M | $1.7M | $1.5M | $1.5M | $1.4M | $1.5M | $38.08B |
| Deferred revenue | $20.5M | $22.7M | $20.0M | $31.5M | $27.9M | $21.2M | $7.3M | $14.4M | $15.4M | $5.6M | $6.97B | $3.8M |
| Total current liabilities | $330.9M | $293.5M | $401.8M | $395.9M | $240.2M | $195.9M | $289.8M | $375.3M | $177.4M | $182.5M | $273.79B | $192.1M |
| Long-term debt | $0 | $0 | $0 | $15.0M | $60.0M | $60.0M | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $1.5M | $1.5M | $1.3M | $1.2M | $1.4M | $1.6M | $1.7M | $1.5M | $1.5M | $1.4M | $1.5M | $992,000 |
| Other long-term liabilities | $15.5M | $16.6M | $16.4M | $19.8M | $21.7M | $20.2M | $17.9M | $21.4M | $18.7M | $19.2M | $19.82B | $15.0M |
| Total liabilities | $346.4M | $310.2M | $418.1M | $430.7M | $321.9M | $276.1M | $307.7M | $396.8M | $196.2M | $201.7M | $293.61B | $207.1M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $12,000 | $12,000 | $11.0M | $12,000 |
| Retained earnings (deficit) | −$153.0M | −$144.9M | −$157.4M | −$157.4M | −$187.0M | −$175.0M | −$170.9M | −$155.0M | −$193.9M | −$180.0M | −$173.77B | −$175.1M |
| Accumulated other comprehensive income | $4.4M | $1.6M | $2.5M | $5.2M | $7.1M | $482,000 | −$2.1M | $5.7M | $99,000 | −$41,000 | $1.32B | −$2.4M |
| Total shareholders' equity | $816.6M | $852.2M | $835.2M | $829.1M | $792.4M | $784.3M | $814.8M | $843.2M | $802.6M | $797.0M | $786.12B | $775.3M |
| Key figures | ||||||||||||
| Total debt | — | $1.5M | $1.3M | $16.2M | $61.4M | $61.6M | $1.7M | $1.5M | $1.5M | $1.4M | $1.5M | $992,000 |
| Net cash (debt) | — | $323.6M | $353.6M | $361.1M | $212.8M | $193.8M | $609.4M | $679.6M | $569.5M | $617.6M | $654.61B | $637.2M |
| Working capital | $173.6M | $218.8M | $200.5M | $210.2M | $208.5M | $200.6M | $473.1M | $500.2M | $533.5M | $556.6M | $541.89B | $570.3M |
| Tangible book value | $231.8M | $262.3M | $239.6M | $228.8M | $186.4M | $179.5M | $546.5M | $560.0M | $580.6M | $573.8M | $556.29B | $589.9M |
| Book value per share | $6.67 | $6.66 | $6.54 | $6.49 | $6.47 | $6.36 | $6.55 | $6.53 | $6.44 | $6.47 | $6,099.70 | $6.66 |
| Shares outstanding | 122.4M | 127.9M | 127.7M | 127.7M | 122.5M | 123.2M | 124.5M | 129.2M | 124.6M | 123.1M | 128.9M | 116.5M |
| Current ratio | 1.52 | 1.75 | 1.50 | 1.53 | 1.87 | 2.02 | 2.63 | 2.33 | 4.01 | 4.05 | 2.98 | 3.97 |
| Quick ratio | 1.33 | 1.61 | 1.41 | 1.43 | 1.71 | 1.86 | 2.55 | 2.27 | 3.89 | 3.96 | 2.91 | 3.87 |
| Debt / equity | — | 0.00 | 0.00 | 0.02 | 0.08 | 0.08 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Equity / assets | 70.2% | 73.3% | 66.6% | 65.8% | 71.1% | 74.0% | 72.6% | 68.0% | 80.4% | 79.8% | 72.8% | 78.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 24, 2026); data from EODHD.
FLYW financial position
At the end of fiscal 2025 (December 31, 2025), Flywire had total assets of $1.3 billion (up 11.7% from a year earlier), total liabilities of $418.1 million and shareholders' equity of $835.2 million. It held $355.0 million in cash and short-term investments against $1.3 million of debt, a net cash position of $353.6 million. Its current ratio was 1.50. In the latest quarter (ended June 30, 2026) total assets were $1.2 billion and equity $816.6 million.
Related: FLYW income statement, FLYW cash flow statement, FLYW key metrics. See the FLYW stock overview for the latest quote and news.
FLYW balance sheet FAQ
What are Flywire's total assets?
Flywire reported total assets of $1.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.1 billion a year earlier.
How much debt does Flywire have?
Flywire had $1.3 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.00.
How much cash does Flywire have?
Flywire held $355.0 million in cash and short-term investments at the end of fiscal 2025; with $1.3 million of debt that is net cash of $353.6 million.
What is Flywire's book value?
Flywire's shareholders' equity (book value) was $835.2 million at the end of fiscal 2025, or $6.54 per share.
What is Flywire's current ratio?
Flywire had current assets of $602.3 million and current liabilities of $401.8 million, a current ratio of 1.50 (it can cover its short-term obligations).
How much goodwill does Flywire have?
Flywire carried $595.6 million of goodwill and intangible assets, 47.5% of total assets, at the end of fiscal 2025.