Freshworks Inc. (FRSH) Balance Sheet
FRSH balance sheet, 2025
December 31, 2025 · U.S. dollars$1.60B assets = $570.1M liabilities + $1.03B equity
Both columns are drawn to the same scale: what FRSH owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FRSH financial health
Descriptive bands, not a rating. Fiscal 2025.
FRSH balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $273.9M2016 | $1.60B2025 | +21.7%/yr | |
| Total liabilities | $172.4M2016 | $570.1M2025 | +14.2%/yr | |
| Shareholders’ equity | $101.5M2016 | $1.03B2025 | +29.4%/yr | |
| Cash & short-term investments | $2.1M2016 | $781.4M2025 | +93.3%/yr | |
| Total debt | $108.8M2016 | $42.5M2025 | −9.9%/yr | |
| Net cash (debt) | −$106.8M2016 | $738.9M2025 | +$845.6M | |
| Working capital | −$9.8M2016 | $599.1M2025 | +$608.9M | |
| Book value per share | −$10.662020 | $3.522025 | — | |
| Current ratio | 0.572016 | 2.202025 | +1.63 | |
| Debt / equity | 1.072016 | 0.042025 | −1.03 | |
| Shares outstanding | 252.9M2020 | 293.8M2025 | +3.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FRSH assets
FRSH liabilities and equity
FRSH debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FRSH balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $781.4M | $1.07B | $1.19B | $1.15B | $1.32B | $238.1M | $222.9M | $5.8M | $2.2M | $2.1M |
| Cash & equivalents | $569.8M | $620.3M | $488.1M | $304.1M | $747.9M | $95.4M | $75.0M | $5.8M | $2.2M | $2.1M |
| Short-term investments | $211.6M | $449.8M | $699.5M | $843.4M | $575.7M | $142.7M | $147.9M | — | — | — |
| Receivables | $150.8M | $122.9M | $97.2M | $73.3M | $51.8M | $34.3M | $24.3M | $3.6M | $3.8M | $5.3M |
| Inventory | $0 | $0 | $0 | $20.1M | $14.6M | $9.2M | $5.5M | $549,000 | $719,000 | $917,000 |
| Other current assets | $165.0M | $72.5M | $70.7M | $16.0M | $31.4M | $30.9M | $23.9M | $2.2M | $2.7M | $4.8M |
| Total current assets | $1.10B | $1.27B | $1.36B | $1.26B | $1.42B | $312.4M | $276.5M | $12.1M | $9.4M | $13.1M |
| Property, plant & equipment (net) | $78.7M | $62.8M | $55.5M | $57.2M | $21.5M | $20.8M | $20.0M | $4.9M | $10.1M | $28.5M |
| Goodwill & intangible assets | $223.7M | $237.9M | $20.3M | $6.5M | $8.1M | $12.4M | $8.9M | $188.8M | $194.8M | $195.5M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $203.1M | $45.8M | $25.4M | $59.7M | $31.9M | $21.8M | $16.4M | $41.0M | $32.0M | $36.8M |
| Total assets | $1.60B | $1.61B | $1.46B | $1.38B | $1.48B | $367.4M | $321.8M | $246.7M | $246.2M | $273.9M |
| Liabilities | ||||||||||
| Accounts payable | $11.5M | $1.6M | $3.5M | $5.9M | $6.3M | $3.7M | $3.7M | $4.8M | $5.4M | $6.2M |
| Short-term debt | $9.2M | $8.1M | $2.7M | $6.8M | — | — | — | $11.4M | $8.4M | $7.9M |
| Deferred revenue | $391.4M | $327.9M | $270.7M | $209.1M | $160.2M | $107.0M | $68.7M | $1.7M | $918,000 | $1.4M |
| Total current liabilities | $498.0M | $407.7M | $327.2M | $271.7M | $223.3M | $152.2M | $98.4M | $32.8M | $27.8M | $22.9M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $42.5M | $38.3M | $29.5M | $28.2M | $0 | — | — | — | — | — |
| Other long-term liabilities | $72.0M | $66.2M | $57.3M | $56.7M | $21.4M | $2.91B | $1.35B | $106.1M | $116.2M | $149.5M |
| Total liabilities | $570.1M | $474.0M | $384.5M | $328.4M | $244.8M | $3.06B | $1.44B | $147.7M | $144.0M | $172.4M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $1,000 | $1,000 | $170,000 | $170,000 | $170,000 |
| Retained earnings (deficit) | −$3.55B | −$3.74B | −$3.64B | −$3.50B | −$3.27B | −$2.70B | −$1.12B | −$22.3M | −$18.6M | −$18.6M |
| Accumulated other comprehensive income | −$1.6M | −$338,000 | −$754,000 | −$7.4M | −$747,000 | $411,000 | $139,000 | — | — | — |
| Total shareholders' equity | $1.03B | $1.14B | $1.07B | $1.05B | $1.24B | −$2.70B | −$1.12B | $99.0M | $102.2M | $101.5M |
| Key figures | ||||||||||
| Total debt | $42.5M | $38.3M | $29.5M | $34.9M | — | — | — | $82.0M | $95.4M | $108.8M |
| Net cash (debt) | $738.9M | $1.03B | $1.16B | $1.11B | — | — | — | −$76.3M | −$93.2M | −$106.8M |
| Working capital | $599.1M | $857.7M | $1.03B | $985.2M | $1.20B | $160.2M | $178.1M | −$20.7M | −$18.5M | −$9.8M |
| Tangible book value | $809.0M | $900.1M | $1.05B | $1.05B | $1.23B | −$2.71B | −$1.13B | −$89.7M | −$92.6M | −$94.0M |
| Book value per share | $3.52 | $3.78 | $3.66 | $3.70 | $4.74 | −$10.66 | — | — | — | — |
| Shares outstanding | 293.8M | 300.8M | 293.1M | 284.6M | 261.3M | 252.9M | — | — | — | — |
| Current ratio | 2.20 | 3.10 | 4.14 | 4.63 | 6.36 | 2.05 | 2.81 | 0.37 | 0.34 | 0.57 |
| Quick ratio | 1.87 | 2.93 | 3.93 | 4.49 | 6.16 | 1.79 | 2.51 | 0.28 | 0.21 | 0.32 |
| Debt / equity | 0.04 | 0.03 | 0.03 | 0.03 | — | — | — | 0.83 | 0.93 | 1.07 |
| Equity / assets | 64.4% | 70.6% | 73.6% | 76.2% | 83.5% | −734.0% | −348.9% | 40.1% | 41.5% | 37.1% |
| 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 | $664.1M | $779.2M | $781.4M | $813.2M | $926.2M | $995.3M | $1.07B | $1.05B | $1.02B | $1.21B | $1.19B | $1.16B |
| Cash & equivalents | $494.7M | $548.2M | $569.8M | $420.9M | $486.0M | $594.2M | $620.3M | $391.1M | $310.3M | $468.0M | $488.1M | $458.2M |
| Short-term investments | $169.4M | $231.1M | $211.6M | $392.3M | $440.2M | $401.1M | $449.8M | $663.9M | $708.8M | $739.3M | $699.5M | $706.5M |
| Receivables | $137.7M | $127.3M | $150.8M | $119.8M | $115.9M | $112.3M | $122.9M | $99.2M | $100.9M | $84.3M | $97.2M | $80.3M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $1 | $0 | $22.2M |
| Other current assets | $100.1M | $100.2M | $165.0M | $88.3M | $94.5M | $88.5M | $72.5M | $78.6M | $77.0M | $75.5M | $70.7M | $52.3M |
| Total current assets | $901.9M | $1.01B | $1.10B | $1.02B | $1.14B | $1.20B | $1.27B | $1.23B | $1.20B | $1.37B | $1.36B | $1.32B |
| Property, plant & equipment (net) | $78.7M | $81.2M | $78.7M | $72.2M | $63.3M | $63.6M | $62.8M | $56.0M | $56.1M | $52.8M | $55.5M | $55.2M |
| Goodwill & intangible assets | $290.5M | $296.0M | $223.7M | $227.1M | $230.5M | $234.3M | $237.9M | $241.4M | $245.0M | $20.5M | $20.3M | $20.2M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $219.4M | $221.4M | $203.1M | $51.3M | $50.6M | $47.2M | $45.8M | $44.9M | $45.4M | $27.0M | $25.4M | $23.2M |
| Total assets | $1.49B | $1.61B | $1.60B | $1.37B | $1.48B | $1.54B | $1.61B | $1.58B | $1.54B | $1.47B | $1.46B | $1.42B |
| Liabilities | ||||||||||||
| Accounts payable | $26.9M | $18.6M | $11.5M | $7.6M | $4.9M | $2.1M | $1.6M | $7.0M | $9.8M | $1.5M | $3.5M | $2.7M |
| Short-term debt | — | $9.4M | $9.2M | $8.2M | $9.2M | $9.3M | $8.1M | $5.6M | $4.0M | $1.7M | $2.7M | $3.9M |
| Deferred revenue | $400.5M | $397.9M | $391.4M | $353.4M | $344.9M | $335.8M | $327.9M | $301.1M | $292.4M | $280.8M | $270.7M | $250.4M |
| Total current liabilities | $532.7M | $520.1M | $498.0M | $450.6M | $432.6M | $413.5M | $407.7M | $377.9M | $367.7M | $336.3M | $327.2M | $305.7M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $34.6M | $38.8M | $42.5M | $39.7M | $36.0M | $39.9M | $38.3M | $31.2M | $31.7M | $26.3M | $29.5M | $30.8M |
| Other long-term liabilities | $61.9M | $66.1M | $72.0M | $69.9M | $63.6M | $65.9M | $66.2M | $62.2M | $60.8M | $53.0M | $57.3M | $53.9M |
| Total liabilities | $594.5M | $586.2M | $570.1M | $520.5M | $496.2M | $479.4M | $474.0M | $440.2M | $428.5M | $389.3M | $384.5M | $359.6M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 |
| Retained earnings (deficit) | −$3.55B | −$3.56B | −$3.55B | −$3.74B | −$3.74B | −$3.74B | −$3.74B | −$3.71B | −$3.68B | −$3.66B | −$3.64B | −$3.61B |
| Accumulated other comprehensive income | −$1.7M | −$3.6M | −$1.6M | −$1.7M | $102,000 | $608,000 | −$338,000 | $1.8M | −$1.0M | −$1.3M | −$754,000 | −$4.9M |
| Total shareholders' equity | $895.9M | $1.02B | $1.03B | $851.5M | $984.6M | $1.06B | $1.14B | $1.14B | $1.12B | $1.08B | $1.07B | $1.06B |
| Key figures | ||||||||||||
| Total debt | $25.6M | $38.8M | $42.5M | $39.7M | $36.0M | $39.9M | $38.3M | $31.2M | $31.7M | $26.3M | $29.5M | $30.8M |
| Net cash (debt) | $638.5M | $740.4M | $738.9M | $773.6M | $890.2M | $955.5M | $1.03B | $1.02B | $987.4M | $1.18B | $1.16B | $1.13B |
| Working capital | $369.2M | $486.8M | $599.1M | $570.7M | $703.9M | $782.6M | $857.7M | $854.9M | $829.3M | $1.03B | $1.03B | $1.01B |
| Tangible book value | $605.5M | $723.2M | $809.0M | $624.4M | $754.1M | $827.5M | $900.1M | $893.6M | $870.1M | $1.06B | $1.05B | $1.04B |
| Book value per share | $3.28 | $3.60 | $3.64 | $2.98 | $3.34 | $3.52 | $3.75 | $3.76 | $3.72 | $3.62 | $3.62 | $3.60 |
| Shares outstanding | 273.0M | 283.3M | 283.9M | 286.2M | 294.4M | 301.3M | 303.6M | 302.1M | 299.8M | 297.9M | 296.0M | 294.1M |
| Current ratio | 1.69 | 1.94 | 2.20 | 2.27 | 2.63 | 2.89 | 3.10 | 3.26 | 3.26 | 4.07 | 4.14 | 4.32 |
| Quick ratio | 1.51 | 1.74 | 1.87 | 2.07 | 2.41 | 2.68 | 2.93 | 3.05 | 3.05 | 3.84 | 3.93 | 4.07 |
| Debt / equity | 0.03 | 0.04 | 0.04 | 0.05 | 0.04 | 0.04 | 0.03 | 0.03 | 0.03 | 0.02 | 0.03 | 0.03 |
| Equity / assets | 60.1% | 63.5% | 64.4% | 62.1% | 66.5% | 68.9% | 70.6% | 72.1% | 72.2% | 73.5% | 73.6% | 74.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
FRSH financial position
At the end of fiscal 2025 (December 31, 2025), Freshworks had total assets of $1.6 billion (down 0.6% from a year earlier), total liabilities of $570.1 million and shareholders' equity of $1.0 billion. It held $781.4 million in cash and short-term investments against $42.5 million of debt, a net cash position of $738.9 million. Its current ratio was 2.20. In the latest quarter (ended June 30, 2026) total assets were $1.5 billion and equity $895.9 million.
Related: FRSH income statement, FRSH cash flow statement, FRSH key metrics. See the FRSH stock overview for the latest quote and news.
FRSH balance sheet FAQ
What are Freshworks's total assets?
Freshworks reported total assets of $1.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.6 billion a year earlier.
How much debt does Freshworks have?
Freshworks had $42.5 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.04.
How much cash does Freshworks have?
Freshworks held $781.4 million in cash and short-term investments at the end of fiscal 2025; with $42.5 million of debt that is net cash of $738.9 million.
What is Freshworks's book value?
Freshworks's shareholders' equity (book value) was $1.0 billion at the end of fiscal 2025, or $3.52 per share.
What is Freshworks's current ratio?
Freshworks had current assets of $1.1 billion and current liabilities of $498.0 million, a current ratio of 2.20 (it can cover its short-term obligations).
How much goodwill does Freshworks have?
Freshworks carried $223.7 million of goodwill and intangible assets, 14.0% of total assets, at the end of fiscal 2025.