GigaCloud Technology Inc. (GCT) Balance Sheet
GCT balance sheet, 2025
December 31, 2025 · U.S. dollars$1.20B assets = $716.7M liabilities + $485.8M equity
Both columns are drawn to the same scale: what GCT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
GCT financial health
Descriptive bands, not a rating. Fiscal 2025.
GCT balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $49.5M2019 | $1.20B2025 | +70.2%/yr | |
| Total liabilities | $22.4M2019 | $716.7M2025 | +78.2%/yr | |
| Shareholders’ equity | $27.1M2019 | $485.8M2025 | +61.8%/yr | |
| Cash & short-term investments | $6.7M2019 | $416.9M2025 | +99.2%/yr | |
| Total debt | $89,0002019 | $469.7M2025 | +317.3%/yr | |
| Net cash (debt) | $6.6M2019 | −$52.8M2025 | −$59.4M | |
| Working capital | $24.2M2019 | $348.4M2025 | +$324.2M | |
| Book value per share | $2.862019 | $12.712025 | +28.2%/yr | |
| Current ratio | 2.082019 | 2.022025 | −0.06 | |
| Debt / equity | 0.002019 | 0.972025 | +0.96 | |
| Shares outstanding | 9.5M2019 | 38.2M2025 | +26.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
GCT assets
GCT liabilities and equity
GCT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
GCT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $416.9M | $302.4M | $183.3M | $143.5M | $63.2M | $61.5M | $6.7M |
| Cash & equivalents | $379.8M | $259.8M | $183.3M | $143.5M | $63.2M | $61.5M | $5.3M |
| Short-term investments | $36.3M | $42.7M | −$885,000 | — | — | — | $1.4M |
| Receivables | $66.0M | $65.4M | $70.9M | $32.2M | $23.2M | $24.0M | $13.9M |
| Inventory | $188.3M | $172.5M | $132.2M | $78.3M | $81.4M | $35.6M | $21.8M |
| Other current assets | $19.5M | $7.3M | $6.4M | $4.0M | $4.6M | $11.2M | $4.2M |
| Total current assets | $690.7M | $547.6M | $392.8M | $258.1M | $172.4M | $132.4M | $46.6M |
| Property, plant & equipment (net) | $463.7M | $481.4M | $423.5M | $157.2M | $11.1M | $5.9M | $2.4M |
| Goodwill & intangible assets | $17.6M | $18.8M | $21.0M | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $30.5M | $22.7M | $9.6M | $3.3M | $3.3M | $33,000 | $535,000 |
| Total assets | $1.20B | $1.07B | $846.9M | $418.6M | $186.8M | $138.3M | $49.5M |
| Liabilities | |||||||
| Accounts payable | $105.4M | $78.2M | $69.8M | $31.6M | $25.1M | $11.5M | $10.5M |
| Short-term debt | $100.7M | $88.7M | $59.6M | $30.8M | $2.7M | $1.5M | $89,000 |
| Deferred revenue | $6.5M | $4.5M | $5.5M | $2.0M | $3.7M | $3.4M | — |
| Total current liabilities | $342.2M | $264.4M | $205.8M | $102.6M | $57.0M | $48.9M | $22.4M |
| Long-term debt | $0 | $0 | $0 | $0 | $237,000 | $711,000 | $0 |
| Lease obligations | $469.7M | $484.3M | $403.2M | $145.1M | $4.7M | $2.9M | — |
| Other long-term liabilities | $374.4M | $400.9M | $350.7M | $120.8M | $3.7M | $2.0M | $0 |
| Total liabilities | $716.7M | $665.3M | $556.5M | $223.4M | $60.9M | $51.6M | $22.4M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $1.9M | $2.0M | $2.0M | $2.0M | $554,000 | $475,000 | $475,000 |
| Retained earnings (deficit) | $400.9M | $298.9M | $177.7M | $83.6M | $60.6M | $32.8M | −$6.0M |
| Accumulated other comprehensive income | $1.5M | −$4.1M | −$1.1M | $804,000 | −$165,000 | −$288,000 | $75,999 |
| Total shareholders' equity | $485.8M | $405.2M | $290.4M | $195.2M | $125.8M | $86.8M | $27.1M |
| Key figures | |||||||
| Total debt | $469.7M | $484.3M | $403.2M | $148.2M | $5.3M | $4.0M | $89,000 |
| Net cash (debt) | −$52.8M | −$181.8M | −$220.0M | −$4.7M | $57.9M | $57.5M | $6.6M |
| Working capital | $348.4M | $283.2M | $187.0M | $155.5M | $115.4M | $83.5M | $24.2M |
| Tangible book value | $468.2M | $386.4M | $269.5M | $195.2M | $125.8M | $86.8M | $27.1M |
| Book value per share | $12.71 | $9.84 | $7.10 | $4.85 | $3.13 | $9.14 | $2.86 |
| Shares outstanding | 38.2M | 41.2M | 40.9M | 40.2M | 40.2M | 9.5M | 9.5M |
| Current ratio | 2.02 | 2.07 | 1.91 | 2.51 | 3.02 | 2.71 | 2.08 |
| Quick ratio | 1.41 | 1.39 | 1.24 | 1.71 | 1.51 | 1.75 | 0.92 |
| Debt / equity | 0.97 | 1.20 | 1.39 | 0.76 | 0.04 | 0.05 | 0.00 |
| Equity / assets | 40.4% | 37.9% | 34.3% | 46.6% | 67.4% | 62.7% | 54.8% |
| 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 | $378.6M | $363.2M | $416.9M | $365.9M | $303.0M | $286.8M | $302.4M | $259.8M | $207.8M | $195.3M | $183.3M | $214.0M |
| Cash & equivalents | $335.2M | $330.3M | $379.8M | $334.9M | $240.1M | $251.7M | $259.8M | $217.6M | $185.6M | $185.2M | $183.3M | $214.0M |
| Short-term investments | $43.3M | $32.9M | $36.3M | $31.0M | $62.9M | $35.1M | $42.7M | $42.2M | $22.2M | $10.1M | — | — |
| Receivables | $91.7M | $83.5M | $66.0M | $59.8M | $69.4M | $67.0M | $65.4M | $62.5M | $69.6M | $59.4M | $70.9M | $31.4M |
| Inventory | $218.0M | $240.3M | $188.3M | $176.4M | $186.8M | $204.9M | $172.5M | $183.3M | $197.6M | $186.1M | $132.2M | $82.4M |
| Other current assets | $42.0M | $21.9M | $19.5M | $19.9M | $18.0M | $20.5M | $7.3M | $22.1M | $18.4M | $19.8M | $6.4M | $13.7M |
| Total current assets | $730.2M | $708.9M | $690.7M | $622.0M | $577.3M | $579.2M | $547.6M | $527.7M | $493.4M | $460.7M | $392.8M | $341.5M |
| Property, plant & equipment (net) | $494.6M | $472.7M | $463.7M | $458.8M | $466.7M | $471.4M | $481.4M | $505.0M | $518.2M | $481.8M | $423.5M | $175.7M |
| Goodwill & intangible assets | $17.5M | $17.8M | $17.6M | $17.9M | $18.2M | $18.5M | $18.8M | $19.3M | $19.9M | $20.4M | $21.0M | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $31.4M | $30.8M | $30.5M | $25.4M | $20.7M | $22.0M | $22.7M | $21.3M | $23.6M | $14.8M | $9.6M | $12.6M |
| Total assets | $1.27B | $1.23B | $1.20B | $1.12B | $1.08B | $1.09B | $1.07B | $1.07B | $1.06B | $977.6M | $846.9M | $529.8M |
| Liabilities | ||||||||||||
| Accounts payable | $86.1M | $98.8M | $105.4M | $79.5M | $73.7M | $87.8M | $78.2M | $66.7M | $79.9M | $86.8M | $69.8M | $40.2M |
| Short-term debt | $121.4M | $106.7M | $100.7M | $99.9M | $96.3M | $90.8M | $88.7M | $84.9M | $76.4M | $69.4M | $59.6M | $32.9M |
| Deferred revenue | $5.4M | $5.9M | $6.5M | $5.2M | $6.0M | $5.7M | $4.5M | $5.3M | $6.5M | $7.6M | $5.5M | $3.7M |
| Total current liabilities | $349.3M | $342.9M | $342.2M | $299.6M | $273.9M | $291.8M | $264.4M | $247.3M | $249.0M | $251.7M | $205.8M | $140.4M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $506.3M | $474.9M | $469.7M | $461.7M | $468.4M | $471.9M | $484.3M | $504.2M | $517.2M | $470.5M | $403.2M | $164.5M |
| Other long-term liabilities | $390.4M | $377.0M | $374.4M | $367.2M | $377.4M | $386.3M | $400.9M | $425.6M | $447.6M | $408.1M | $350.7M | $135.1M |
| Total liabilities | $739.7M | $719.9M | $716.7M | $666.8M | $651.3M | $678.1M | $665.3M | $673.0M | $696.6M | $659.8M | $556.5M | $275.6M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.8M | $1.8M | $1.9M | $1.9M | $1.9M | $2.0M | $2.0M | $2.1M | $2.1M | $2.1M | $2.0M | $2.0M |
| Retained earnings (deficit) | $440.9M | $433.5M | $400.9M | $377.5M | $340.3M | $326.0M | $298.9M | $272.5M | $231.9M | $204.9M | $177.7M | $142.1M |
| Accumulated other comprehensive income | −$111,000 | −$175,000 | $1.5M | $1.9M | $2.2M | −$2.1M | −$4.1M | −$6,000 | $150,000 | $414,000 | −$1.1M | $294,000 |
| Total shareholders' equity | $534.0M | $510.3M | $485.8M | $457.3M | $431.4M | $412.9M | $405.2M | $400.4M | $358.4M | $317.8M | $290.4M | $254.2M |
| Key figures | ||||||||||||
| Total debt | $506.3M | $474.9M | $469.7M | $461.7M | $468.4M | $471.9M | $484.3M | $504.2M | $517.2M | $470.5M | $403.2M | $164.5M |
| Net cash (debt) | −$127.7M | −$111.7M | −$52.8M | −$95.8M | −$165.4M | −$185.1M | −$181.8M | −$244.5M | −$309.4M | −$275.2M | −$220.0M | $49.5M |
| Working capital | $380.9M | $366.0M | $348.4M | $322.4M | $303.4M | $287.4M | $283.2M | $280.4M | $244.4M | $209.0M | $187.0M | $201.0M |
| Tangible book value | $516.5M | $492.5M | $468.2M | $439.4M | $413.3M | $394.4M | $386.4M | $381.1M | $338.6M | $297.4M | $269.5M | $254.2M |
| Book value per share | $14.61 | $13.88 | $12.71 | $12.16 | $11.32 | $10.29 | $9.90 | $9.67 | $8.66 | $7.76 | $7.10 | $6.22 |
| Shares outstanding | 36.5M | 36.8M | 38.2M | 37.6M | 38.1M | 40.1M | 40.9M | 41.4M | 41.4M | 41.0M | 40.9M | 40.9M |
| Current ratio | 2.09 | 2.07 | 2.02 | 2.08 | 2.11 | 1.98 | 2.07 | 2.13 | 1.98 | 1.83 | 1.91 | 2.43 |
| Quick ratio | 1.35 | 1.30 | 1.41 | 1.42 | 1.36 | 1.21 | 1.39 | 1.30 | 1.11 | 1.01 | 1.24 | 1.75 |
| Debt / equity | 0.95 | 0.93 | 0.97 | 1.01 | 1.09 | 1.14 | 1.20 | 1.26 | 1.44 | 1.48 | 1.39 | 0.65 |
| Equity / assets | 41.9% | 41.5% | 40.4% | 40.7% | 39.8% | 37.8% | 37.9% | 37.3% | 34.0% | 32.5% | 34.3% | 48.0% |
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.
GCT financial position
At the end of fiscal 2025 (December 31, 2025), GigaCloud Technology had total assets of $1.2 billion (up 12.3% from a year earlier), total liabilities of $716.7 million and shareholders' equity of $485.8 million. It held $416.9 million in cash and short-term investments against $469.7 million of debt, net debt of $52.8 million. Its current ratio was 2.02. In the latest quarter (ended June 30, 2026) total assets were $1.3 billion and equity $534.0 million.
Related: GCT income statement, GCT cash flow statement, GCT key metrics. See the GCT stock overview for the latest quote and news.
GCT balance sheet FAQ
What are GigaCloud Technology's total assets?
GigaCloud Technology reported total assets of $1.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.1 billion a year earlier.
How much debt does GigaCloud Technology have?
GigaCloud Technology had $469.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.97.
How much cash does GigaCloud Technology have?
GigaCloud Technology held $416.9 million in cash and short-term investments at the end of fiscal 2025; with $469.7 million of debt that is net debt of $52.8 million.
What is GigaCloud Technology's book value?
GigaCloud Technology's shareholders' equity (book value) was $485.8 million at the end of fiscal 2025, or $12.71 per share.
What is GigaCloud Technology's current ratio?
GigaCloud Technology had current assets of $690.7 million and current liabilities of $342.2 million, a current ratio of 2.02 (it can cover its short-term obligations).
How much goodwill does GigaCloud Technology have?
GigaCloud Technology carried $17.6 million of goodwill and intangible assets, 1.5% of total assets, at the end of fiscal 2025.