Golden Heaven Group Holdings Ltd. (GDHG) Balance Sheet
GDHG balance sheet, FY2025
September 30, 2025 · U.S. dollars$191.4M assets = $10.8M liabilities + $180.7M equity
Both columns are drawn to the same scale: what GDHG owns equals what it owes plus shareholders’ equity. Hover a block for its value.
GDHG financial health
Descriptive bands, not a rating. Fiscal FY2025.
GDHG balance sheet trends, FY2020–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $63.3MFY2020 | $191.4MFY2025 | +24.8%/yr | |
| Total liabilities | $38.4MFY2020 | $10.8MFY2025 | −22.4%/yr | |
| Shareholders’ equity | $24.9MFY2020 | $180.7MFY2025 | +48.6%/yr | |
| Cash & short-term investments | $17.6MFY2020 | $86.0MFY2025 | +37.4%/yr | |
| Total debt | $6.3MFY2020 | $7.2MFY2025 | +2.5%/yr | |
| Net cash (debt) | $11.2MFY2020 | $78.8MFY2025 | +$67.6M | |
| Working capital | −$3.8MFY2020 | $105.7MFY2025 | +$109.5M | |
| Debt / equity | 0.25FY2020 | 0.04FY2025 | −0.21 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
GDHG assets
GDHG liabilities and equity
GDHG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
GDHG balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $86.0M | $19.8M | $245,908 | $22.4M | $12.9M | $17.6M |
| Cash & equivalents | $86.0M | $19.8M | $245,908 | $22.4M | $12.9M | $17.6M |
| Receivables | $1.1M | $514,010 | $57,723 | $52,370 | $50,169 | $69,546 |
| Inventory | $0 | $0 | −$12.5M | $461,886 | $462,244 | $525,798 |
| Other current assets | $23.0M | $40.3M | $27.0M | $1.5M | $18.2M | $3.6M |
| Total current assets | $110.1M | $60.6M | $14.7M | $24.5M | $31.6M | $21.7M |
| Property, plant & equipment (net) | $31.3M | $37.9M | $38.5M | $34.4M | $40.1M | $41.5M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $50.1M | $60,793 | $29.0M | $14.2M | $70,312 | $66,959 |
| Total assets | $191.4M | $98.6M | $82.2M | $73.1M | $71.8M | $63.3M |
| Liabilities | ||||||
| Accounts payable | — | $0 | $4.3M | $0 | $0 | $866,494 |
| Short-term debt | $778,645 | $1.0M | $485,285 | $568,704 | $574,855 | $476,435 |
| Deferred revenue | $210,704 | $1.5M | $5.7M | $9.6M | $11.4M | $17.9M |
| Total current liabilities | $4.4M | $5.8M | $14.5M | $16.1M | $17.8M | $25.5M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $7.0M | $9.6M | $6.2M | $6.6M | $6.2M | $6.3M |
| Other long-term liabilities | $6.4M | $9.0M | $6.7M | $7.4M | $14.2M | $12.9M |
| Total liabilities | $10.8M | $14.8M | $21.2M | $23.5M | $32.0M | $38.4M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $4.7M | $20,618 | $5,175 | $5,000 | $10,000 | $10,000 |
| Retained earnings (deficit) | $45.1M | $53.7M | $55.6M | $49.1M | $35.1M | $22.2M |
| Accumulated other comprehensive income | $373,305 | $1.3M | $5.5M | $502,439 | $1.6M | $356,362 |
| Total shareholders' equity | $180.7M | $83.7M | $61.1M | $49.6M | $39.8M | $24.9M |
| Key figures | ||||||
| Total debt | $7.2M | $9.8M | $6.3M | $6.8M | $6.3M | $6.3M |
| Net cash (debt) | $78.8M | $10.0M | −$6.0M | $15.7M | $6.6M | $11.2M |
| Working capital | $105.7M | $54.8M | $210,051 | $8.4M | $13.8M | −$3.8M |
| Tangible book value | $180.7M | $83.7M | $61.1M | $49.6M | $39.8M | $24.9M |
| Current ratio | 25.01 | 10.41 | 1.01 | 1.52 | 1.78 | 0.85 |
| Quick ratio | 19.78 | 3.49 | 0.02 | 1.40 | 0.73 | 0.69 |
| Debt / equity | 0.04 | 0.12 | 0.10 | 0.14 | 0.16 | 0.25 |
| Equity / assets | 94.4% | 84.9% | 74.2% | 67.9% | 55.5% | 39.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $155.9M | $155.9M | $86.0M | $86.0M | $67.8M | $19.8M | $19.8M | $129,417 | $129,417 | $245,908 | $245,908 | $245,908 |
| Cash & equivalents | $155.9M | $155.9M | $86.0M | $86.0M | $67.8M | $19.8M | $19.8M | $129,417 | $129,417 | $245,908 | $245,908 | $245,908 |
| Receivables | $3.0M | $0 | $1.1M | $0 | $283,336 | $514,010 | $0 | $55,598 | $0 | $57,723 | $57,723 | $57,723 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $357,255 | −$12.5M | $357,255 |
| Other current assets | $41.0M | $44.0M | $23.0M | $24.1M | $23.3M | $40.3M | $40.8M | $3.7M | $3.7M | $14.1M | $27.0M | $14.1M |
| Total current assets | $199.9M | $199.9M | $110.1M | $110.1M | $91.3M | $60.6M | $60.6M | $3.9M | $3.9M | $14.7M | $14.7M | $14.7M |
| Property, plant & equipment (net) | $35.4M | $35.4M | $31.3M | $31.3M | $34.8M | $37.9M | $37.9M | $40.3M | $40.3M | $38.5M | $38.5M | $38.5M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $50.0M | $50.0M | $50.1M | $50.1M | $59,346 | $60,793 | $60,793 | $38.8M | $38.8M | $29.0M | $29.0M | $29.0M |
| Total assets | $285.3M | $285.3M | $191.4M | $191.4M | $126.1M | $98.6M | $98.6M | $82.9M | $82.9M | $82.2M | $82.2M | $82.2M |
| Liabilities | ||||||||||||
| Accounts payable | $25.0M | — | — | — | $51,215 | — | $0 | $670,425 | $670,425 | $4.3M | $4.3M | $4.3M |
| Short-term debt | $224,323 | — | $778,645 | — | $1.8M | $1.0M | — | $1.8M | — | $485,285 | $485,285 | $485,285 |
| Deferred revenue | $32.0M | — | $210,704 | — | $153,242 | $1.5M | — | $2.8M | — | $5.7M | $5.7M | $5.7M |
| Total current liabilities | $65.6M | $65.6M | $4.4M | $4.4M | $4.2M | $5.8M | $5.8M | $8.5M | $8.5M | $14.5M | $14.5M | $14.5M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | $2.0M | — | $7.0M | $9.0M | — | $9.6M | — | $10.2M | — | $6.2M | — |
| Other long-term liabilities | $1.8M | $1.8M | $6.4M | $6.4M | $8.2M | $9.0M | $9.0M | $10.1M | $10.1M | $6.7M | $6.7M | $6.7M |
| Total liabilities | $67.3M | $67.3M | $10.8M | $10.8M | $12.4M | $14.8M | $14.8M | $18.6M | $18.6M | $21.2M | $21.2M | $21.2M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $200 | — | $4.7M | — | $172,618 | $20,618 | — | $5,175 | — | $5,175 | $5,175 | $5,175 |
| Retained earnings (deficit) | $38.6M | $38.6M | $45.1M | $45.1M | $43.1M | $53.7M | $53.7M | $58.1M | $58.1M | $55.6M | $55.6M | $55.6M |
| Accumulated other comprehensive income | −$1.4M | — | $373,305 | — | −$161,648 | $1.3M | — | −$7,676 | — | $5.5M | $5.5M | $5.5M |
| Total shareholders' equity | $218.0M | $218.0M | $180.7M | $180.7M | $113.7M | $83.7M | $83.7M | $64.3M | $64.3M | $61.1M | $61.1M | $61.1M |
| Key figures | ||||||||||||
| Total debt | $2.0M | — | $7.2M | — | $9.2M | $9.8M | — | $10.4M | — | $6.3M | $6.3M | $6.3M |
| Net cash (debt) | $153.9M | — | $78.8M | — | $58.6M | $10.0M | — | −$10.3M | — | −$6.0M | −$6.0M | −$6.0M |
| Working capital | $134.3M | $134.3M | $105.7M | $105.7M | $87.1M | $54.8M | $54.8M | −$4.6M | −$4.6M | $210,051 | $210,051 | $210,051 |
| Tangible book value | $218.0M | $218.0M | $180.7M | $180.7M | $113.7M | $83.7M | $83.7M | $64.3M | $64.3M | $61.1M | $61.1M | $61.1M |
| Book value per share | — | $10.88 | — | — | — | — | — | — | — | — | — | $1.18 |
| Shares outstanding | — | 20.0M | — | — | — | — | — | — | — | — | — | 51.8M |
| Current ratio | 3.05 | 3.05 | 25.01 | 25.01 | 21.54 | 10.41 | 10.41 | 0.46 | 0.46 | 1.01 | 1.01 | 1.01 |
| Quick ratio | 2.42 | 2.38 | 19.78 | 19.53 | 16.05 | 3.49 | 3.41 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| Debt / equity | 0.01 | — | 0.04 | — | 0.08 | 0.12 | — | 0.16 | — | 0.10 | 0.10 | 0.10 |
| Equity / assets | 76.4% | 76.4% | 94.4% | 94.4% | 90.1% | 84.9% | 84.9% | 77.5% | 77.5% | 74.2% | 74.2% | 74.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed January 21, 2026); data from EODHD.
GDHG financial position
At the end of fiscal 2025 (September 30, 2025), Golden Heaven had total assets of $191.4 million (up 94.3% from a year earlier), total liabilities of $10.8 million and shareholders' equity of $180.7 million. It held $86.0 million in cash and short-term investments against $7.2 million of debt, a net cash position of $78.8 million. Its current ratio was 25.01. In the latest quarter (ended June 30, 2026) total assets were $285.3 million and equity $218.0 million.
Related: GDHG income statement, GDHG cash flow statement, GDHG key metrics. See the GDHG stock overview for the latest quote and news.
GDHG balance sheet FAQ
What are Golden Heaven's total assets?
Golden Heaven reported total assets of $191.4 million at the end of fiscal 2025 (September 30, 2025), compared with $98.6 million a year earlier.
How much debt does Golden Heaven have?
Golden Heaven had $7.2 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 Golden Heaven have?
Golden Heaven held $86.0 million in cash and short-term investments at the end of fiscal 2025; with $7.2 million of debt that is net cash of $78.8 million.
What is Golden Heaven's book value?
Golden Heaven's shareholders' equity (book value) was $180.7 million at the end of fiscal 2025.
What is Golden Heaven's current ratio?
Golden Heaven had current assets of $110.1 million and current liabilities of $4.4 million, a current ratio of 25.01 (it can cover its short-term obligations).