Happen, Inc. (HAPN) Balance Sheet
HAPN balance sheet, 2025
December 31, 2025 · U.S. dollars$11.57B assets = $10.07B liabilities + $1.50B equity
Both columns are drawn to the same scale: what HAPN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HAPN financial health
Descriptive bands, not a rating. Fiscal 2025.
HAPN balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $5.56B2016 | $11.57B2025 | +8.5%/yr | |
| Total liabilities | $4.59B2016 | $10.07B2025 | +9.1%/yr | |
| Shareholders’ equity | $975.8M2016 | $1.50B2025 | +4.9%/yr | |
| Cash & short-term investments | $802.7M2016 | $917.7M2025 | +1.5%/yr | |
| Total debt | $4.32B2016 | $15.8M2025 | −46.4%/yr | |
| Net cash (debt) | −$3.52B2016 | $901.8M2025 | +$4.4B | |
| Working capital | $803.2M2016 | −$8.96B2025 | −$9.8B | |
| Book value per share | $12.582016 | $12.622025 | +0.0%/yr | |
| Debt / equity | 4.432016 | 0.012025 | −4.42 | |
| Shares outstanding | 77.6M2016 | 118.9M2025 | +4.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HAPN assets
HAPN liabilities and equity
HAPN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HAPN balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $917.7M | $4.41B | $2.87B | $1.40B | $950.7M | $667.2M | $514.7M | $543.4M | $519.3M | $802.7M |
| Cash & equivalents | $917.7M | $954.1M | $1.25B | $1.06B | $687.1M | $525.0M | $243.8M | $373.0M | $401.7M | $515.6M |
| Short-term investments | — | $3.45B | $1.62B | $345.7M | $263.5M | $142.2M | $270.9M | $170.5M | $117.6M | $287.1M |
| Receivables | $43.9M | $40.4M | $35.8M | $191.2M | $149.2M | $15.4M | $31.9M | $41.6M | $111.9M | $57.7M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $12.8M | $23.3M | $41.6M | $0 | $0 | $16.5M | $14.9M | $25.6M | $23.4M | $17.0M |
| Total current assets | $974.4M | $4.47B | $2.95B | $1.59B | $1.10B | $699.1M | $561.4M | $610.6M | $654.7M | $877.4M |
| Property, plant & equipment (net) | $267.0M | $188.8M | $188.1M | $200.3M | $175.3M | $170.7M | $207.9M | $113.9M | $101.9M | $89.3M |
| Goodwill & intangible assets | $83.1M | $84.3M | $87.9M | $92.1M | $167.3M | $67.8M | $14.5M | $18.0M | $57.6M | $61.8M |
| Long-term investments | $3.76B | $3.50B | $1.66B | $384.0M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $6.49B | $2.39B | $3.94B | $5.71B | $3.46B | $925.7M | $2.20B | $3.08B | $3.83B | $4.53B |
| Total assets | $11.57B | $10.63B | $8.83B | $7.98B | $4.90B | $1.86B | $2.98B | $3.82B | $4.64B | $5.56B |
| Liabilities | ||||||||||
| Accounts payable | $87.3M | $78.1M | $54.6M | $98.2M | $101.0M | $46.9M | $20.1M | $26.3M | $42.4M | $54.5M |
| Short-term debt | — | — | — | $2.6M | $27.8M | $105.0M | $1.17B | $917.6M | $64.2M | — |
| Total current liabilities | $9.93B | $9.17B | $7.42B | $6.49B | $3.26B | $166.3M | $1.23B | $986.5M | $127.9M | $74.2M |
| Long-term debt | $0 | $0 | $19.4M | $130.3M | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $15.8M | $28.5M | $37.9M | $77.3M | — | — | — | — | — | — |
| Other long-term liabilities | $134.3M | $119.6M | $131.4M | $191.8M | $785.5M | $972.9M | $850.3M | $1.96B | $3.59B | $4.51B |
| Total liabilities | $10.07B | $9.29B | $7.58B | $6.82B | $4.05B | $1.14B | $2.08B | $2.95B | $3.71B | $4.59B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.2M | $1.1M | $1.1M | $1.1M | $1.0M | $881,000 | $892,000 | $864,000 | $4.2M | $4.0M |
| Retained earnings (deficit) | −$201.8M | −$337.5M | −$388.8M | −$427.7M | −$717.4M | −$786.2M | −$548.5M | −$517.7M | −$389.4M | −$234.2M |
| Accumulated other comprehensive income | −$18.2M | −$24.2M | −$30.3M | −$37.6M | $7.0M | $1.5M | −$565,000 | $157,000 | −$5,000 | −$767,000 |
| Total shareholders' equity | $1.50B | $1.34B | $1.25B | $1.16B | $850.2M | $724.2M | $900.2M | $869.2M | $922.5M | $975.8M |
| Key figures | ||||||||||
| Total debt | $15.8M | $28.5M | $57.2M | $210.2M | $430.0M | $989.1M | $2.41B | $3.08B | $3.33B | $4.32B |
| Net cash (debt) | $901.8M | $4.38B | $2.82B | $1.19B | $520.7M | −$321.9M | −$1.89B | −$2.54B | −$2.81B | −$3.52B |
| Working capital | −$8.96B | −$4.70B | −$4.47B | −$4.90B | −$2.16B | $532.8M | −$670.4M | −$375.8M | $526.8M | $803.2M |
| Tangible book value | $1.42B | $1.26B | $1.16B | $1.07B | $683.0M | $656.4M | $885.6M | $851.2M | $864.9M | $913.9M |
| Book value per share | $12.62 | $11.86 | $11.54 | $11.19 | $8.32 | $8.01 | $10.31 | $10.28 | $11.28 | $12.58 |
| Shares outstanding | 118.9M | 113.1M | 108.5M | 104.0M | 102.1M | 90.4M | 87.3M | 84.6M | 81.8M | 77.6M |
| Current ratio | 0.10 | 0.49 | 0.40 | 0.25 | 0.34 | 4.20 | 0.46 | 0.62 | 5.12 | 11.82 |
| Quick ratio | 0.10 | 0.49 | 0.39 | 0.25 | 0.34 | 4.11 | 0.44 | 0.59 | 4.94 | 11.60 |
| Debt / equity | 0.01 | 0.02 | 0.05 | 0.18 | 0.51 | 1.37 | 2.68 | 3.54 | 3.61 | 4.43 |
| Equity / assets | 13.0% | 12.6% | 14.2% | 14.6% | 17.4% | 38.9% | 30.2% | 22.8% | 19.9% | 17.5% |
| 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 | $4.06B | $804.9M | $917.7M | $827.4M | $752.6M | $898.5M | $4.41B | $4.33B | $3.75B | $3.29B | $2.87B | $2.10B |
| Cash & equivalents | $12.0M | $801.9M | $917.7M | $827.4M | $752.6M | $895.5M | $954.1M | $1.02B | $938.1M | $1.07B | $1.25B | $1.31B |
| Short-term investments | $4.05B | $3.0M | — | — | — | $3.0M | $3.45B | $3.31B | $2.81B | $2.23B | $1.62B | $795.7M |
| Receivables | $46.9M | $45.0M | $43.9M | $41.1M | $40.0M | $39.5M | $40.4M | $118.3M | $123.3M | $140.1M | $146.8M | $125.3M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $19.9M | $12.8M | $18.3M | $21.8M | $24.7M | $23.3M | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $4.06B | $869.8M | $974.4M | $886.7M | $814.3M | $962.7M | $4.47B | $4.45B | $3.88B | $3.43B | $3.02B | $2.23B |
| Property, plant & equipment (net) | $276.5M | $284.2M | $267.0M | $265.4M | $263.5M | $188.2M | $188.8M | $189.0M | $189.2M | $188.5M | $188.1M | $213.3M |
| Goodwill & intangible assets | $154.8M | $82.4M | $83.1M | $83.9M | $82.8M | $83.5M | $84.3M | $85.2M | $86.0M | $86.9M | $87.9M | $88.9M |
| Long-term investments | $4.10B | $3.92B | $3.76B | $3.79B | $3.57B | $3.47B | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $3.96B | $6.79B | $6.49B | $6.05B | $6.04B | $5.78B | $5.89B | $6.32B | $5.44B | $5.53B | $5.53B | $5.94B |
| Total assets | $12.55B | $11.94B | $11.57B | $11.07B | $10.78B | $10.48B | $10.63B | $11.04B | $9.59B | $9.24B | $8.83B | $8.47B |
| Liabilities | ||||||||||||
| Accounts payable | $83.5M | $83.0M | $87.3M | $81.2M | $67.5M | $55.5M | $78.1M | $68.4M | $60.9M | $46.3M | $54.6M | $54.2M |
| Short-term debt | $2.5M | $4.5M | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | $1.66B | $4.5M | $9.93B | $9.49B | $9.22B | $8.99B | $9.17B | $9.53B | $8.16B | $7.57B | $7.39B | $7.05B |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $11.4M | $12.5M | $15.8M | $19.1M | $22.4M | $25.6M | — | — | — | — | — | — |
| Other long-term liabilities | $9.32B | $10.41B | $134.3M | $123.3M | $144.6M | $132.9M | $119.6M | $166.6M | $141.9M | $410.6M | $187.5M | $209.7M |
| Total liabilities | $10.98B | $10.42B | $10.07B | $9.61B | $9.37B | $9.12B | $9.29B | $9.69B | $8.30B | $7.98B | $7.58B | $7.26B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.2M | $1.2M | $1.2M | $1.2M | $1.1M | $1.1M | $1.1M | $1.1M | $1.1M | $1.1M | $1.1M | $1.1M |
| Retained earnings (deficit) | −$92.0M | −$150.2M | −$201.8M | −$243.4M | −$287.6M | −$325.8M | −$337.5M | −$347.2M | −$361.7M | −$376.6M | −$388.8M | −$399.0M |
| Accumulated other comprehensive income | −$39.0M | −$28.7M | −$18.2M | −$17.7M | −$26.0M | −$22.2M | −$24.2M | −$3.6M | −$37.4M | −$37.2M | −$30.3M | −$54.2M |
| Total shareholders' equity | $1.57B | $1.52B | $1.50B | $1.46B | $1.41B | $1.36B | $1.34B | $1.34B | $1.29B | $1.27B | $1.25B | $1.21B |
| Key figures | ||||||||||||
| Total debt | $11.4M | $59.7M | $15.8M | $19.1M | $22.4M | $25.6M | $28.5M | $32.1M | $37.8M | $297.7M | $57.2M | $94.6M |
| Net cash (debt) | $4.05B | $745.2M | $901.8M | $808.3M | $730.2M | $872.9M | $4.38B | $4.30B | $3.71B | $3.00B | $2.82B | $2.01B |
| Working capital | $2.40B | $865.4M | −$8.96B | −$8.60B | −$8.41B | −$8.02B | −$4.70B | −$5.08B | −$4.28B | −$4.13B | −$4.37B | −$4.83B |
| Tangible book value | $1.41B | $1.44B | $1.42B | $1.38B | $1.32B | $1.28B | $1.26B | $1.26B | $1.20B | $1.18B | $1.16B | $1.12B |
| Book value per share | $13.37 | $12.98 | $12.62 | $12.37 | $12.15 | $11.75 | $11.53 | $11.79 | $11.55 | $11.44 | $11.39 | $11.08 |
| Shares outstanding | 117.3M | 117.3M | 118.9M | 118.2M | 115.7M | 116.2M | 116.4M | 113.9M | 111.5M | 110.7M | 109.9M | 109.1M |
| Current ratio | 2.44 | 194.64 | 0.10 | 0.09 | 0.09 | 0.11 | 0.49 | 0.47 | 0.48 | 0.45 | 0.41 | 0.32 |
| Quick ratio | 2.47 | 190.18 | 0.10 | 0.09 | 0.09 | 0.10 | 0.49 | 0.47 | 0.48 | 0.45 | 0.41 | 0.32 |
| Debt / equity | 0.01 | 0.04 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.24 | 0.05 | 0.08 |
| Equity / assets | 12.5% | 12.8% | 13.0% | 13.2% | 13.0% | 13.0% | 12.6% | 12.2% | 13.4% | 13.7% | 14.2% | 14.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 12, 2026); data from EODHD.
HAPN financial position
At the end of fiscal 2025 (December 31, 2025), Happen had total assets of $11.6 billion (up 8.8% from a year earlier), total liabilities of $10.1 billion and shareholders' equity of $1.5 billion. It held $917.7 million in cash and short-term investments against $15.8 million of debt, a net cash position of $901.8 million. Its current ratio was 0.10. In the latest quarter (ended June 30, 2026) total assets were $12.5 billion and equity $1.6 billion.
Related: HAPN income statement, HAPN cash flow statement, HAPN key metrics. See the HAPN stock overview for the latest quote and news.
HAPN balance sheet FAQ
What are Happen's total assets?
Happen reported total assets of $11.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $10.6 billion a year earlier.
How much debt does Happen have?
Happen had $15.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.
How much cash does Happen have?
Happen held $917.7 million in cash and short-term investments at the end of fiscal 2025; with $15.8 million of debt that is net cash of $901.8 million.
What is Happen's book value?
Happen's shareholders' equity (book value) was $1.5 billion at the end of fiscal 2025, or $12.62 per share.
What is Happen's current ratio?
Happen had current assets of $974.4 million and current liabilities of $9.9 billion, a current ratio of 0.10 (current liabilities exceed current assets).
How much goodwill does Happen have?
Happen carried $83.1 million of goodwill and intangible assets, 0.7% of total assets, at the end of fiscal 2025.