Garden Stage Limited (GSIW) Balance Sheet
GSIW balance sheet, FY2026
March 31, 2026 · U.S. dollars$41.9M assets = $17.7M liabilities + $24.2M equity
Both columns are drawn to the same scale: what GSIW owns equals what it owes plus shareholders’ equity. Hover a block for its value.
GSIW financial health
Descriptive bands, not a rating. Fiscal FY2026.
GSIW balance sheet trends, FY2021–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $17.7MFY2021 | $41.9MFY2026 | +18.8%/yr | |
| Total liabilities | $17.0MFY2021 | $17.7MFY2026 | +0.8%/yr | |
| Shareholders’ equity | $641,995FY2021 | $24.2MFY2026 | +106.7%/yr | |
| Cash & short-term investments | $1.8MFY2021 | $17.6MFY2026 | +57.9%/yr | |
| Total debt | $17,590FY2022 | $80,705FY2026 | +46.4%/yr | |
| Net cash (debt) | $983,865FY2022 | $17.5MFY2026 | +$16.5M | |
| Working capital | $544,132FY2021 | $26.2MFY2026 | +$25.7M | |
| Debt / equity | 1.06FY2022 | 0.00FY2026 | −1.06 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
GSIW assets
GSIW liabilities and equity
GSIW debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
GSIW balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $17.6M | $624,583 | $2.7M | $804,743 | $1.0M | $1.8M |
| Cash & equivalents | $17.5M | $624,583 | $2.7M | $804,743 | $1.0M | $1.8M |
| Short-term investments | $31,150 | — | — | — | — | — |
| Receivables | $8.8M | $1.7M | $865,569 | $6.1M | $2.1M | $2.6M |
| Inventory | $0 | $0 | $0 | $12.5M | $9.9M | $13.1M |
| Other current assets | $0 | $11.4M | $8.7M | $0 | $0 | $104,816 |
| Total current assets | $26.3M | $13.8M | $12.3M | $12.5M | $9.9M | $17.6M |
| Property, plant & equipment (net) | $248,630 | $350,531 | $301,205 | $11,599 | $18,929 | $3,422 |
| Goodwill & intangible assets | $11.1M | $64,268 | $63,891 | $63,694 | $63,837 | $64,391 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $4.3M | $1.7M | $4.0M | $0 | $0 | $30,050 |
| Total assets | $41.9M | $15.9M | $16.6M | $1.7M | $1.3M | $17.7M |
| Liabilities | ||||||
| Accounts payable | — | $8.4M | $6.9M | $10.3M | $7.9M | $14.9M |
| Short-term debt | $80,705 | $117,818 | $91,990 | $69,584 | $68,020 | — |
| Deferred revenue | — | — | — | $90,948 | $0 | — |
| Total current liabilities | $80,705 | $9.1M | $7.1M | $11.2M | $10.0M | $17.0M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | $199,102 | $289,922 | $69,584 | $137,760 | $0 |
| Other long-term liabilities | $17.6M | $81,284 | $197,932 | $1.4M | $70,101 | $0 |
| Total liabilities | $17.7M | $9.2M | $7.3M | $1.4M | $1.3M | $17.0M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $30,173 | $1,563 | $1,563 | $146 | $147 | $19 |
| Retained earnings (deficit) | −$22.8M | −$9.0M | −$4.7M | −$10,126 | $16,302 | $638,579 |
| Accumulated other comprehensive income | −$310,348 | −$30,909 | −$10,327 | $131 | $131 | $3,416 |
| Total shareholders' equity | $24.2M | $6.7M | $9.3M | $248,027 | $16,580 | $641,995 |
| Key figures | ||||||
| Total debt | $80,705 | $199,102 | $289,922 | $8,864 | $17,590 | — |
| Net cash (debt) | $17.5M | $425,481 | $2.4M | $795,879 | $983,865 | — |
| Working capital | $26.2M | $4.7M | $5.2M | $1.3M | −$97,613 | $544,132 |
| Tangible book value | $13.1M | $6.6M | $9.2M | $184,333 | −$47,257 | $577,604 |
| Current ratio | 326.02 | 1.51 | 1.73 | 1.12 | 0.99 | 1.03 |
| Quick ratio | 326.02 | 0.26 | 0.50 | 0.62 | 0.30 | 0.26 |
| Debt / equity | 0.00 | 0.03 | 0.03 | 0.04 | 1.06 | — |
| Equity / assets | 57.8% | 42.2% | 56.0% | 14.8% | 1.3% | 3.6% |
| Jun '26 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & short-term investments | $17.6M | $19.0M | $624,583 | $624,583 | $1.0M | $863,069 | $2.7M | $1.1M | $2.7M | $802,724 | $676,873 |
| Cash & equivalents | $17.5M | $19.0M | $624,583 | $624,583 | $1.0M | $863,069 | $2.7M | $1.1M | $2.7M | $802,724 | $676,873 |
| Short-term investments | $31,150 | — | — | — | — | — | — | — | — | — | — |
| Receivables | $8.8M | $6.5M | $1.7M | $1.7M | $1.9M | $1.9M | $865,569 | $110,595 | $110,595 | $633,514 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $11.4M | $11.4M | $9.3M | $9.5M | $8.7M | $11.0M | $0 | $5.8M | $0 |
| Total current assets | $26.3M | $19.0M | $13.8M | $13.8M | $12.3M | $12.3M | $12.3M | $12.3M | $2.7M | $7.2M | $676,873 |
| Property, plant & equipment (net) | $248,630 | $265,359 | $350,531 | $350,531 | $57,133 | $443,784 | $301,205 | $38,485 | $301,205 | $6,655 | $52,123 |
| Goodwill & intangible assets | $11.1M | $64,243 | $64,268 | $0 | $8,284 | $0 | $63,891 | $63,891 | $63,891 | $63,848 | $63,848 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $4.3M | $13.1M | $1.7M | $1.8M | $0 | $2.9M | $4.0M | $0 | $13.6M | $0 | $7.3M |
| Total assets | $41.9M | $32.4M | $15.9M | $15.9M | $2.0M | $15.6M | $16.6M | $2.1M | $16.6M | $1.0M | $8.1M |
| Liabilities | |||||||||||
| Accounts payable | — | $12.0M | $8.4M | $8.4M | $8.4M | $8.4M | $6.9M | $6.9M | $6.9M | $6.0M | — |
| Short-term debt | $80,705 | $120,222 | $117,818 | — | $130,444 | — | $91,990 | $11,753 | $11,753 | $31,903 | — |
| Deferred revenue | — | — | — | — | — | — | — | — | — | $1 | — |
| Total current liabilities | $80,705 | $120,222 | $9.1M | $9.1M | $8.6M | $8.6M | $7.1M | $7.1M | $83,479 | $6.1M | $5,827 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | $140,745 | — | $199,102 | — | $256,547 | — | $289,922 | — | $31,903 | — |
| Other long-term liabilities | $17.6M | $12.4M | $81,284 | $81,284 | $140,981 | $140,981 | $197,932 | $197,932 | $197,932 | $772,521 | $0 |
| Total liabilities | $17.7M | $12.6M | $9.2M | $9.2M | $1.1M | $8.7M | $7.3M | $932,523 | $83,479 | $776,594 | $5,827 |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | $30,173 | $21,815 | $1,563 | — | $201 | — | $1,563 | $200 | $1,563 | $163 | $1,275 |
| Retained earnings (deficit) | −$22.8M | −$15.5M | −$9.0M | −$9.0M | −$1.0M | −$7.9M | −$4.7M | −$596,563 | −$4.7M | −$106,124 | −$831,155 |
| Accumulated other comprehensive income | −$310,348 | −$101,629 | −$30,909 | — | −$4,181 | — | −$10,327 | −$10,327 | −$80,824 | $953 | $7,462 |
| Total shareholders' equity | $24.2M | $19.9M | $6.7M | $6.7M | $888,500 | $6.9M | $9.3M | $1.2M | $9.3M | $254,943 | $2.0M |
| Key figures | |||||||||||
| Total debt | $80,705 | $161,268 | $199,102 | — | $271,425 | — | $289,922 | $37,043 | $37,043 | $4,073 | — |
| Net cash (debt) | $17.5M | $18.8M | $425,481 | — | $754,652 | — | $2.4M | $1.1M | $2.6M | $798,651 | — |
| Working capital | $26.2M | $18.8M | $4.7M | $4.7M | $3.7M | $3.7M | $5.2M | $5.2M | $2.6M | $1.2M | $671,046 |
| Tangible book value | $13.1M | $19.8M | $6.6M | $6.7M | $880,216 | $6.9M | $9.2M | $1.1M | $9.2M | $191,095 | $1.9M |
| Current ratio | 326.02 | 157.72 | 1.51 | 1.51 | 1.43 | 1.43 | 1.73 | 1.73 | 31.93 | 1.19 | 116.16 |
| Quick ratio | 326.02 | 212.10 | 0.26 | 0.26 | 0.34 | 0.32 | 0.50 | 0.18 | 33.26 | 0.24 | 116.16 |
| Debt / equity | 0.00 | 0.01 | 0.03 | — | 0.31 | — | 0.03 | 0.03 | 0.00 | 0.02 | — |
| Equity / assets | 57.8% | 61.3% | 42.2% | 42.2% | 44.2% | 44.2% | 56.0% | 56.0% | 56.0% | 24.7% | 24.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed July 31, 2026); data from EODHD.
GSIW financial position
At the end of fiscal 2026 (March 31, 2026), Garden Stage had total assets of $41.9 million (up 163.7% from a year earlier), total liabilities of $17.7 million and shareholders' equity of $24.2 million. It held $17.6 million in cash and short-term investments against $0.1 million of debt, a net cash position of $17.5 million. Its current ratio was 326.02. In the latest quarter (ended June 30, 2026) total assets were $41.9 million and equity $24.2 million.
Related: GSIW income statement, GSIW cash flow statement, GSIW key metrics. See the GSIW stock overview for the latest quote and news.
GSIW balance sheet FAQ
What are Garden Stage's total assets?
Garden Stage reported total assets of $41.9 million at the end of fiscal 2026 (March 31, 2026), compared with $15.9 million a year earlier.
How much debt does Garden Stage have?
Garden Stage had $0.1 million of total debt at the end of fiscal 2026, including short-term borrowings. Its debt-to-equity ratio was 0.00.
How much cash does Garden Stage have?
Garden Stage held $17.6 million in cash and short-term investments at the end of fiscal 2026; with $0.1 million of debt that is net cash of $17.5 million.
What is Garden Stage's book value?
Garden Stage's shareholders' equity (book value) was $24.2 million at the end of fiscal 2026.
What is Garden Stage's current ratio?
Garden Stage had current assets of $26.3 million and current liabilities of $0.1 million, a current ratio of 326.02 (it can cover its short-term obligations).
How much goodwill does Garden Stage have?
Garden Stage carried $11.1 million of goodwill and intangible assets, 26.5% of total assets, at the end of fiscal 2026.