Goosehead Insurance, Inc (GSHD) Balance Sheet
GSHD balance sheet, 2025
December 31, 2025 · U.S. dollars$414.9M assets = $577.7M liabilities + −$162.8M equity
Liabilities exceed assets: shareholders’ equity is negative (−$162.8M).
Both columns are drawn to the same scale: what GSHD owns equals what it owes plus shareholders’ equity. Hover a block for its value.
GSHD financial health
Descriptive bands, not a rating. Fiscal 2025.
GSHD balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $8.7M2016 | $414.9M2025 | +53.6%/yr | |
| Total liabilities | $32.9M2016 | $577.7M2025 | +37.5%/yr | |
| Shareholders’ equity | −$24.2M2016 | −$95.5M2025 | — | |
| Cash & short-term investments | $4.1M2016 | $34.4M2025 | +26.7%/yr | |
| Total debt | $29.4M2016 | $352.3M2025 | +31.8%/yr | |
| Net cash (debt) | −$25.3M2016 | −$317.9M2025 | −$292.6M | |
| Working capital | $6.5M2016 | $77.0M2025 | +$70.5M | |
| Book value per share | −$0.692016 | −$2.512025 | — | |
| Debt / equity | 15.482022 | 3.492024 | −11.98 | |
| Shares outstanding | 35.0M2016 | 38.1M2025 | +0.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
GSHD assets
GSHD liabilities and equity
GSHD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
GSHD balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $34.4M | $58.0M | $44.0M | $30.4M | $30.5M | $26.2M | $14.3M | $18.6M | $5.4M | $4.1M |
| Cash & equivalents | $34.4M | $58.0M | $44.0M | $30.4M | $30.5M | $26.2M | $14.3M | $18.6M | $5.4M | $4.1M |
| Short-term investments | — | — | — | — | — | — | — | — | $418,000 | — |
| Receivables | $50.7M | $45.9M | $31.9M | $43.2M | $44.2M | $38.9M | $20.5M | $4.8M | $1.8M | $2.7M |
| Inventory | $0 | $0 | $1 | −$10.9M | $1 | $65.1M | $35.8M | $1 | $1 | −$8.7M |
| Other current assets | $3.5M | $0 | $0 | $10.9M | $0 | $0 | $0 | $0 | $1.4M | $8.7M |
| Total current assets | $88.6M | $103.9M | $75.9M | $73.6M | $74.7M | $65.1M | $34.8M | $22.8M | $8.6M | $6.8M |
| Property, plant & equipment (net) | $55.6M | $61.5M | $68.7M | $79.4M | $57.6M | $39.2M | $9.5M | $7.6M | $6.8M | $1.4M |
| Goodwill & intangible assets | $39.7M | $25.1M | $17.3M | $4.5M | $2.8M | $549,000 | $445,000 | $248,000 | $216,468 | $47,097 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $230.9M | $207.2M | $193.0M | $163.8M | $135.2M | $81.0M | $19.8M | $4.1M | $1.1M | $403,744 |
| Total assets | $414.9M | $397.7M | $354.9M | $321.4M | $270.3M | $185.8M | $64.6M | $34.8M | $16.7M | $8.7M |
| Liabilities | ||||||||||
| Accounts payable | $33.6M | $26.6M | $16.4M | $17.6M | $14.9M | $9.4M | $6.0M | $4.4M | $2.2M | $928,944 |
| Short-term debt | $11.7M | $16.6M | $18.3M | $13.5M | $9.3M | $6.7M | $4.0M | $2.5M | $500,000 | $300,000 |
| Deferred revenue | — | $3.3M | $4.1M | $6.0M | $6.1M | $4.2M | $2.8M | $530,000 | $1.1M | $755,000 |
| Total current liabilities | $11.7M | $16.6M | $18.3M | $13.5M | $9.3M | $6.7M | $12.7M | −$95.4M | $500,000 | $300,000 |
| Long-term debt | $289.5M | $82.3M | $67.6M | $86.7M | $118.4M | $79.4M | $55.5M | $47.6M | $48.2M | $29.1M |
| Lease obligations | $59.8M | $61.1M | $66.3M | $71.6M | $52.2M | $36.1M | — | — | — | — |
| Other long-term liabilities | $276.5M | $259.7M | $252.3M | $254.8M | $211.8M | $138.1M | $6.7M | $0 | $9.2M | $3.6M |
| Total liabilities | $577.7M | $358.6M | $338.1M | $355.0M | $339.5M | $224.2M | $95.6M | $60.0M | $57.8M | $32.9M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $366,000 | $373,000 | $380,000 | $374,000 | $370,000 | $367,000 | $362,000 | $362,000 | $123.4M | $72.7M |
| Retained earnings (deficit) | −$133.4M | −$15.4M | −$47.1M | −$60.6M | −$60.7M | −$34.6M | −$23.8M | −$6.6M | −$41.1M | −$24.2M |
| Accumulated other comprehensive income | — | — | $16.8M | −$33.6M | −$69.2M | −$38.4M | −$31.0M | −$25.2M | −$41.1M | −$24.2M |
| Minority interest | −$67.3M | −$4.8M | −$11.2M | −$44.3M | −$55.2M | −$33.5M | −$22.0M | −$107.8M | — | — |
| Total shareholders' equity | −$95.5M | $43.9M | $56.6M | $10.7M | −$14.0M | −$4.9M | −$31.0M | −$25.2M | −$41.1M | −$24.2M |
| Key figures | ||||||||||
| Total debt | $352.3M | $153.4M | $143.2M | $165.2M | $175.0M | $119.0M | $59.5M | $50.1M | $48.7M | $29.4M |
| Net cash (debt) | −$317.9M | −$95.4M | −$99.2M | −$134.8M | −$144.5M | −$92.8M | −$45.2M | −$31.5M | −$43.3M | −$25.3M |
| Working capital | $77.0M | $87.3M | $57.7M | $60.1M | $65.4M | $58.4M | $22.1M | $118.3M | $8.1M | $6.5M |
| Tangible book value | −$135.2M | $18.8M | $39.3M | $6.2M | −$16.8M | −$5.4M | −$31.5M | −$25.5M | −$41.3M | −$24.3M |
| Book value per share | −$2.51 | $1.15 | $2.24 | $0.49 | −$0.67 | −$0.27 | −$1.93 | −$1.86 | −$1.18 | −$0.69 |
| Shares outstanding | 38.1M | 38.3M | 25.2M | 21.8M | 20.8M | 18.4M | 16.1M | 13.6M | 35.0M | 35.0M |
| Current ratio | 7.60 | 6.26 | 4.16 | 5.45 | 8.06 | 9.71 | 2.74 | — | 17.12 | 22.68 |
| Quick ratio | 7.30 | 6.26 | 4.16 | 5.45 | 8.06 | 9.71 | 2.74 | — | 14.40 | 22.68 |
| Debt / equity | — | 3.49 | 2.53 | 15.48 | — | — | — | — | — | — |
| Equity / assets | −23.0% | 11.0% | 15.9% | 3.3% | −5.2% | −2.6% | −48.0% | −72.4% | −246.2% | −278.8% |
| 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 | $23.7M | $25.7M | $34.4M | $51.6M | $95.6M | $72.6M | $58.0M | $50.1M | $26.3M | $53.1M | $44.0M | $37.1M |
| Cash & equivalents | $23.7M | $25.7M | $34.4M | $51.6M | $95.6M | $72.6M | $58.0M | $50.1M | $26.3M | $53.1M | $44.0M | $37.1M |
| Receivables | $43.3M | $32.2M | $50.7M | $27.4M | $25.0M | $23.9M | $45.9M | $24.6M | $25.9M | $24.1M | $31.9M | $33.9M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$65.2M | $0 | $1 | $1 | −$8.0M |
| Other current assets | $18.4M | $15.5M | $3.5M | $17.2M | $0 | $0 | $0 | $65.2M | $0 | $0 | $0 | $8.0M |
| Total current assets | $85.4M | $73.3M | $88.6M | $96.2M | $120.6M | $96.5M | $103.9M | $74.7M | $52.1M | $77.2M | $75.9M | $70.9M |
| Property, plant & equipment (net) | $53.0M | $55.2M | $55.6M | $54.4M | $54.2M | $59.6M | $61.5M | $59.5M | $62.5M | $65.8M | $68.7M | $71.6M |
| Goodwill & intangible assets | $48.4M | $44.1M | $39.7M | $34.4M | $30.3M | $27.1M | $25.1M | $23.2M | $21.3M | $18.8M | $17.3M | $14.8M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $220.1M | $220.3M | $230.9M | $218.7M | $231.4M | $229.4M | $207.2M | $200.6M | $202.3M | $204.4M | $193.0M | $184.2M |
| Total assets | $406.8M | $392.8M | $414.9M | $403.6M | $436.6M | $412.6M | $397.7M | $358.1M | $338.2M | $366.2M | $354.9M | $341.5M |
| Liabilities | ||||||||||||
| Accounts payable | $30.1M | $34.4M | $33.6M | $28.0M | $26.4M | $22.7M | $26.6M | $21.8M | $18.8M | $16.7M | $18.5M | $16.6M |
| Short-term debt | $12.3M | $12.0M | $11.7M | $9.7M | $9.4M | $8.9M | $16.6M | $19.4M | $19.2M | $19.2M | $18.3M | $17.5M |
| Deferred revenue | $2.8M | — | — | $3.4M | $3.5M | $2.7M | $3.3M | $3.3M | $3.5M | $3.6M | $4.1M | $4.8M |
| Total current liabilities | $55.3M | $12.0M | $11.7M | $226.2M | $9.4M | $8.9M | $16.6M | $19.4M | $19.2M | $19.2M | $18.3M | $17.5M |
| Long-term debt | $314.4M | $314.9M | $289.5M | $290.0M | $289.8M | $290.3M | $82.3M | $84.6M | $87.0M | $65.1M | $67.6M | $70.0M |
| Lease obligations | $55.5M | $57.8M | $59.8M | $57.7M | $58.3M | $59.0M | $61.1M | $59.5M | $61.8M | $64.4M | $66.3M | $68.4M |
| Other long-term liabilities | $225.7M | $270.0M | $276.5M | $58.1M | $268.0M | $258.8M | $259.7M | $251.8M | $251.7M | $253.7M | $252.3M | $248.2M |
| Total liabilities | $595.4M | $597.0M | $577.7M | $574.3M | $567.2M | $558.1M | $358.6M | $355.8M | $357.9M | $338.0M | $338.1M | $335.7M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $355,000 | $356,000 | $366,000 | $369,000 | $376,000 | $376,000 | $373,000 | $371,000 | $369,000 | $380,000 | $380,000 | $378,000 |
| Retained earnings (deficit) | −$118.4M | −$128.5M | −$133.4M | −$145.8M | −$153.7M | −$158.8M | −$15.4M | −$31.0M | −$38.3M | −$46.1M | −$45.8M | −$50.5M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | $0 | — | $0 |
| Minority interest | −$76.1M | −$82.9M | −$67.3M | −$65.7M | −$52.0M | — | — | — | — | — | — | — |
| Total shareholders' equity | −$112.4M | −$121.3M | −$95.5M | −$105.0M | −$78.6M | −$88.5M | $43.9M | $58.3M | $39.8M | $66.7M | $28.0M | $46.6M |
| Key figures | ||||||||||||
| Total debt | $372.8M | $375.7M | $352.3M | $350.6M | $351.1M | $352.4M | $153.4M | $154.2M | $158.9M | $139.5M | $143.2M | $147.2M |
| Net cash (debt) | −$349.2M | −$350.1M | −$317.9M | −$299.1M | −$255.4M | −$279.8M | −$95.4M | −$104.1M | −$132.6M | −$86.4M | −$99.2M | −$110.1M |
| Working capital | $30.1M | $61.3M | $77.0M | −$130.0M | $111.3M | $87.6M | $87.3M | $55.3M | $32.9M | $58.0M | $57.7M | $53.4M |
| Tangible book value | −$160.8M | −$165.3M | −$135.2M | −$139.4M | −$108.9M | −$115.6M | $18.8M | $35.1M | $18.5M | $47.9M | $10.7M | $31.8M |
| Book value per share | −$3.11 | −$3.31 | −$2.56 | −$2.76 | −$2.04 | −$2.31 | $1.15 | $1.54 | $1.05 | $1.72 | $1.10 | $1.87 |
| Shares outstanding | 36.2M | 36.6M | 37.3M | 38.0M | 38.6M | 38.3M | 38.3M | 37.9M | 38.0M | 38.8M | 25.5M | 24.9M |
| Current ratio | 1.54 | 6.09 | 7.60 | 0.43 | 12.89 | 10.84 | 6.26 | 3.86 | 2.71 | 4.02 | 4.16 | 4.05 |
| Quick ratio | 1.21 | 4.80 | 7.30 | 0.35 | 12.89 | 10.84 | 6.26 | 3.86 | 2.71 | 4.02 | 4.16 | 4.05 |
| Debt / equity | — | — | — | — | — | — | 3.49 | 2.64 | 4.00 | 2.09 | 5.12 | 3.16 |
| Equity / assets | −27.6% | −30.9% | −23.0% | −26.0% | −18.0% | −21.5% | 11.0% | 16.3% | 11.8% | 18.2% | 7.9% | 13.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 19, 2026); data from EODHD.
GSHD financial position
At the end of fiscal 2025 (December 31, 2025), Goosehead Insurance had total assets of $414.9 million (up 4.3% from a year earlier), total liabilities of $577.7 million and shareholders' equity of -$95.5 million. It held $34.4 million in cash and short-term investments against $352.3 million of debt, net debt of $317.9 million. Its current ratio was 7.60. In the latest quarter (ended June 30, 2026) total assets were $406.8 million and equity -$112.4 million.
Related: GSHD income statement, GSHD cash flow statement, GSHD key metrics. See the GSHD stock overview for the latest quote and news.
GSHD balance sheet FAQ
What are Goosehead Insurance's total assets?
Goosehead Insurance reported total assets of $414.9 million at the end of fiscal 2025 (December 31, 2025), compared with $397.7 million a year earlier.
How much debt does Goosehead Insurance have?
Goosehead Insurance had $352.3 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Goosehead Insurance have?
Goosehead Insurance held $34.4 million in cash and short-term investments at the end of fiscal 2025; with $352.3 million of debt that is net debt of $317.9 million.
What is Goosehead Insurance's book value?
Goosehead Insurance's shareholders' equity (book value) was -$95.5 million at the end of fiscal 2025, or −$2.51 per share.
What is Goosehead Insurance's current ratio?
Goosehead Insurance had current assets of $88.6 million and current liabilities of $11.7 million, a current ratio of 7.60 (it can cover its short-term obligations).
How much goodwill does Goosehead Insurance have?
Goosehead Insurance carried $39.7 million of goodwill and intangible assets, 9.6% of total assets, at the end of fiscal 2025.