EDAP TMS S.A. (FOCL) Balance Sheet
FOCL balance sheet, 2025
December 31, 2025 · U.S. dollars$79.0M assets = $59.6M liabilities + $19.4M equity
Both columns are drawn to the same scale: what FOCL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FOCL financial health
Descriptive bands, not a rating. Fiscal 2025.
FOCL balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $49.1M2016 | $79.0M2025 | +5.4%/yr | |
| Total liabilities | $23.1M2016 | $59.6M2025 | +11.1%/yr | |
| Shareholders’ equity | $25.8M2016 | $19.4M2025 | −3.1%/yr | |
| Cash & short-term investments | $23.2M2016 | $20.5M2025 | −1.4%/yr | |
| Total debt | $2.9M2016 | $27.7M2025 | +28.4%/yr | |
| Net cash (debt) | $20.3M2016 | −$7.2M2025 | −$27.5M | |
| Working capital | $26.9M2016 | $20.0M2025 | −$6.9M | |
| Book value per share | $0.882016 | $0.522025 | −5.7%/yr | |
| Current ratio | 2.702016 | 1.542025 | −1.16 | |
| Debt / equity | 0.112016 | 1.432025 | +1.31 | |
| Shares outstanding | 29.4M2016 | 37.4M2025 | +2.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FOCL assets
FOCL liabilities and equity
FOCL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FOCL balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $20.5M | $30.9M | $48.0M | $67.4M | $53.7M | $30.2M | $23.4M | $22.3M | $24.0M | $23.2M |
| Cash & equivalents | $20.5M | $30.9M | $48.0M | $67.4M | $53.7M | $30.2M | $23.4M | $22.3M | $24.0M | $23.2M |
| Receivables | $22.6M | $21.0M | $21.3M | $15.9M | $13.8M | $15.1M | $14.1M | $15.2M | $14.8M | $10.6M |
| Inventory | $12.8M | $19.2M | $16.7M | $12.6M | $8.5M | $9.8M | $9.2M | $8.2M | $8.1M | $8.5M |
| Other current assets | $1.3M | $1.3M | $727,966 | $704,385 | $660,715 | $451,492 | $500,635 | $436,685 | $587,192 | $482,022 |
| Total current assets | $57.2M | $72.4M | $86.7M | $96.6M | $76.6M | $55.5M | $47.3M | $46.2M | $47.5M | $42.7M |
| Property, plant & equipment (net) | $13.5M | $10.7M | $9.1M | $6.4M | $5.9M | $6.9M | $7.5M | $4.8M | $4.4M | $2.9M |
| Goodwill & intangible assets | $4.6M | $3.6M | $3.9M | $3.3M | $3.6M | $3.9M | $3.6M | $3.7M | $3.5M | $2.7M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $3.7M | $2.4M | $1.5M | $1.6M | $1.7M | $1.3M | $1.2M | $1.0M | $842,963 | $799,502 |
| Total assets | $79.0M | $89.1M | $101.1M | $107.9M | $87.8M | $67.5M | $59.6M | $55.7M | $56.3M | $49.1M |
| Liabilities | ||||||||||
| Accounts payable | $11.8M | $13.1M | $12.4M | $7.1M | $6.3M | $7.0M | $6.8M | $7.2M | $7.6M | $6.3M |
| Short-term debt | $9.4M | $10.2M | $5.7M | $4.9M | $4.3M | $10.2M | $6.0M | $5.2M | $4.0M | $2.2M |
| Deferred revenue | $7.1M | $6.9M | $4.5M | $4.3M | $3.9M | $3.3M | $2.1M | $2.2M | $2.8M | $2.0M |
| Total current liabilities | $37.1M | $39.2M | $30.5M | $23.2M | $20.4M | $26.3M | $19.6M | $19.2M | $19.4M | $15.8M |
| Long-term debt | $15.9M | $2.2M | $2.2M | $3.8M | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $3.7M | $3.2M | $2.7M | $2.5M | — | — | — | — | — | — |
| Other long-term liabilities | $6.5M | $5.4M | $5.6M | $4.5M | $10.5M | $7.8M | $8.0M | $6.8M | $5.5M | $7.3M |
| Total liabilities | $59.6M | $46.8M | $38.2M | $31.5M | $30.9M | $34.1M | $27.7M | $26.0M | $24.9M | $23.1M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $6.1M | $5.1M | $5.4M | $5.1M | $5.0M | $4.7M | $4.3M | $4.4M | $4.6M | $4.0M |
| Retained earnings (deficit) | −$128.6M | −$85.5M | −$70.2M | −$45.2M | −$44.9M | −$49.1M | −$43.1M | −$45.7M | −$47.6M | −$41.1M |
| Accumulated other comprehensive income | −$8.3M | −$5.1M | −$5.0M | −$4.1M | −$4.1M | −$3.7M | −$3.9M | −$4.3M | −$4.3M | −$4.2M |
| Total shareholders' equity | $19.4M | $42.3M | $62.9M | $76.4M | $56.9M | $32.1M | $30.7M | $28.5M | $30.2M | $25.8M |
| Key figures | ||||||||||
| Total debt | $27.7M | $14.4M | $9.4M | $10.0M | $11.4M | $13.6M | $9.7M | $7.7M | $5.7M | $2.9M |
| Net cash (debt) | −$7.2M | $16.5M | $38.6M | $57.4M | $42.3M | $16.6M | $13.7M | $14.5M | $18.4M | $20.3M |
| Working capital | $20.0M | $33.2M | $56.2M | $73.4M | $56.2M | $29.2M | $27.6M | $26.9M | $28.1M | $26.9M |
| Tangible book value | $14.8M | $38.7M | $59.0M | $73.1M | $53.4M | $28.2M | $27.1M | $24.8M | $26.7M | $23.1M |
| Book value per share | $0.52 | $1.14 | $1.70 | $2.22 | $1.76 | $1.10 | $1.04 | $0.98 | $1.04 | $0.88 |
| Shares outstanding | 37.4M | 37.3M | 37.0M | 34.4M | 32.4M | 29.1M | 29.6M | 29.0M | 29.0M | 29.4M |
| Current ratio | 1.54 | 1.85 | 2.84 | 4.17 | 3.75 | 2.11 | 2.41 | 2.40 | 2.45 | 2.70 |
| Quick ratio | 1.16 | 1.33 | 2.27 | 3.60 | 3.30 | 1.72 | 1.91 | 1.95 | 2.00 | 2.13 |
| Debt / equity | 1.43 | 0.34 | 0.15 | 0.13 | 0.20 | 0.42 | 0.32 | 0.27 | 0.19 | 0.11 |
| Equity / assets | 24.6% | 47.5% | 62.2% | 70.8% | 64.8% | 47.6% | 51.6% | 51.2% | 53.6% | 52.5% |
| 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 | $21.5M | $15.0M | $20.5M | $12.4M | $19.1M | $24.7M | $30.9M | $28.4M | $32.4M | $41.5M | $48.0M | $50.5M |
| Cash & equivalents | $21.5M | $15.0M | $20.5M | $12.4M | $19.1M | $24.7M | $30.9M | $28.4M | $32.4M | $41.5M | $48.0M | $50.5M |
| Receivables | $10.1M | $20.3M | $22.6M | $22.3M | $21.7M | $17.5M | $21.0M | $18.0M | $19.5M | $18.4M | $21.3M | $17.3M |
| Inventory | $8.3M | $13.3M | $12.8M | $16.2M | $18.2M | $19.5M | $19.2M | $23.4M | $19.3M | $18.8M | $16.7M | $16.2M |
| Other current assets | $19.2M | $1.7M | $1.3M | $1.1M | $1.4M | $1.5M | $1.3M | $1.4M | $1.0M | $1.3M | $727,966 | $963,464 |
| Total current assets | $59.0M | $50.4M | $57.2M | $52.0M | $60.4M | $63.3M | $72.4M | $71.2M | $72.2M | $80.0M | $86.7M | $85.0M |
| Property, plant & equipment (net) | $8.6M | $13.0M | $13.5M | $11.7M | $12.0M | $10.8M | $10.7M | $11.3M | $10.7M | $10.9M | $9.1M | $8.5M |
| Goodwill & intangible assets | $2.5M | $4.5M | $4.6M | $2.8M | $2.8M | $2.6M | $3.6M | $2.7M | $2.6M | $2.6M | $3.9M | $2.6M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $4.4M | $4.2M | $3.7M | $5.5M | $5.0M | $4.4M | $2.4M | $2.8M | $2.6M | $2.7M | $1.5M | $2.7M |
| Total assets | $74.5M | $72.1M | $79.0M | $72.1M | $80.1M | $81.1M | $89.1M | $88.0M | $88.1M | $96.2M | $101.1M | $98.7M |
| Liabilities | ||||||||||||
| Accounts payable | $17.8M | $12.5M | $11.8M | — | — | — | $13.1M | $21.0M | $19.4M | $20.2M | $12.4M | $17.9M |
| Short-term debt | $1.9M | $7.8M | $9.4M | $5.9M | $7.4M | $6.2M | $10.2M | $5.7M | $1.9M | $2.9M | $5.7M | $1.7M |
| Deferred revenue | $6.4M | $7.8M | $7.1M | $7.5M | $6.9M | $7.7M | $6.9M | — | $5.2M | $4.5M | $4.5M | $4.9M |
| Total current liabilities | $36.8M | $37.5M | $37.1M | $36.8M | $40.0M | $36.3M | $39.2M | $32.7M | $29.4M | $30.6M | $30.5M | $27.5M |
| Long-term debt | $37.2M | $17.6M | $15.9M | $1.2M | $1.2M | $1.8M | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $1.8M | $3.5M | $3.7M | $1.8M | $1.9M | $1.9M | — | — | — | — | — | — |
| Other long-term liabilities | $3.7M | $6.8M | $6.5M | $6.7M | $6.3M | $5.8M | $7.6M | $7.8M | $7.6M | $8.4M | $7.8M | $7.7M |
| Total liabilities | $77.8M | $62.0M | $59.6M | $44.7M | $47.5M | $43.9M | $46.8M | $40.5M | $37.0M | $39.0M | $38.2M | $35.1M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $6.1M | $6.1M | $6.1M | — | — | — | $5.1M | $47.5M | $51.0M | — | $5.4M | — |
| Retained earnings (deficit) | −$152.2M | −$137.7M | −$128.6M | — | — | — | −$85.5M | — | — | — | −$70.2M | — |
| Accumulated other comprehensive income | −$8.6M | −$8.9M | −$8.3M | — | — | — | −$5.1M | — | — | — | −$5.0M | — |
| Total shareholders' equity | −$3.2M | $10.1M | $19.4M | $27.4M | $32.6M | $37.3M | $42.3M | $47.5M | $51.1M | $57.2M | $62.9M | $63.6M |
| Key figures | ||||||||||||
| Total debt | $39.9M | $27.8M | $27.7M | $8.9M | $10.5M | $9.8M | $14.4M | $9.6M | $5.7M | $7.4M | $9.4M | $5.7M |
| Net cash (debt) | −$18.4M | −$12.8M | −$7.2M | $3.5M | $8.6M | $14.9M | $16.5M | $18.8M | $26.7M | $34.1M | $38.6M | $44.8M |
| Working capital | $22.2M | $12.9M | $20.0M | $15.2M | $20.4M | $27.0M | $33.2M | $38.5M | $42.7M | $49.5M | $56.2M | $57.5M |
| Tangible book value | −$5.7M | $5.6M | $14.8M | $24.5M | $29.8M | $34.7M | $38.7M | $44.8M | $48.5M | $54.6M | $59.0M | $61.1M |
| Book value per share | −$0.09 | $0.27 | $0.52 | $0.73 | $0.87 | $1.00 | $1.13 | — | $1.37 | $1.55 | $1.70 | $1.72 |
| Shares outstanding | 37.5M | 37.5M | 37.4M | 37.4M | 37.4M | 37.4M | 37.4M | — | 37.2M | 37.0M | 37.1M | 37.0M |
| Current ratio | 1.60 | 1.34 | 1.54 | 1.41 | 1.51 | 1.74 | 1.85 | 2.18 | 2.45 | 2.62 | 2.84 | 3.09 |
| Quick ratio | 0.86 | 0.94 | 1.16 | 0.94 | 1.02 | 1.16 | 1.33 | 1.42 | 1.76 | 1.96 | 2.27 | 2.47 |
| Debt / equity | — | 2.75 | 1.43 | 0.32 | 0.32 | 0.26 | 0.34 | 0.20 | 0.11 | 0.13 | 0.15 | 0.09 |
| Equity / assets | −4.3% | 14.0% | 24.6% | 37.9% | 40.7% | 46.0% | 47.5% | 53.9% | 58.0% | 59.5% | 62.2% | 64.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
FOCL financial position
At the end of fiscal 2025 (December 31, 2025), EDAP TMS had total assets of $79.0 million (down 11.4% from a year earlier), total liabilities of $59.6 million and shareholders' equity of $19.4 million. It held $20.5 million in cash and short-term investments against $27.7 million of debt, net debt of $7.2 million. Its current ratio was 1.54. In the latest quarter (ended June 30, 2026) total assets were $74.5 million and equity -$3.2 million.
Related: FOCL income statement, FOCL cash flow statement, FOCL key metrics. See the FOCL stock overview for the latest quote and news.
FOCL balance sheet FAQ
What are EDAP TMS's total assets?
EDAP TMS reported total assets of $79.0 million at the end of fiscal 2025 (December 31, 2025), compared with $89.1 million a year earlier.
How much debt does EDAP TMS have?
EDAP TMS had $27.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.43.
How much cash does EDAP TMS have?
EDAP TMS held $20.5 million in cash and short-term investments at the end of fiscal 2025; with $27.7 million of debt that is net debt of $7.2 million.
What is EDAP TMS's book value?
EDAP TMS's shareholders' equity (book value) was $19.4 million at the end of fiscal 2025, or $0.52 per share.
What is EDAP TMS's current ratio?
EDAP TMS had current assets of $57.2 million and current liabilities of $37.1 million, a current ratio of 1.54 (it can cover its short-term obligations).
How much goodwill does EDAP TMS have?
EDAP TMS carried $4.6 million of goodwill and intangible assets, 5.9% of total assets, at the end of fiscal 2025.