Hims & Hers Health, Inc. (HIMS) Balance Sheet
HIMS balance sheet, 2025
December 31, 2025 · U.S. dollars$2.15B assets = $1.61B liabilities + $540.9M equity
Both columns are drawn to the same scale: what HIMS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HIMS financial health
Descriptive bands, not a rating. Fiscal 2025.
HIMS balance sheet trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $47.5M2018 | $2.15B2025 | +72.4%/yr | |
| Total liabilities | $24.7M2018 | $1.61B2025 | +81.6%/yr | |
| Shareholders’ equity | $22.8M2018 | $540.9M2025 | +57.2%/yr | |
| Cash & short-term investments | $41.5M2018 | $577.5M2025 | +45.7%/yr | |
| Total debt | $8.4M2018 | $1.12B2025 | +101.2%/yr | |
| Net cash (debt) | $33.1M2018 | −$543.1M2025 | −$576.2M | |
| Working capital | $23.2M2018 | $363.2M2025 | +$340.0M | |
| Book value per share | $0.342018 | $2.092025 | +29.7%/yr | |
| Current ratio | 1.962018 | 1.902025 | −0.07 | |
| Debt / equity | 0.372018 | 2.072025 | +1.70 | |
| Shares outstanding | 67.3M2018 | 258.2M2025 | +21.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HIMS assets
HIMS liabilities and equity
HIMS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HIMS balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | $577.5M | $300.3M | $221.0M | $179.6M | $247.3M | $100.2M | $60.4M | $41.5M |
| Cash & equivalents | $228.6M | $220.6M | $96.7M | $46.8M | $71.8M | $27.3M | $22.6M | $41.5M |
| Short-term investments | $348.9M | $79.7M | $124.3M | $132.9M | $175.5M | $72.9M | $37.7M | — |
| Receivables | $32.1M | $6.1M | $6.7M | $3.2M | $3.6M | $750,000 | $859,000 | $499,000 |
| Inventory | $115.7M | $64.4M | $22.5M | $21.6M | $13.6M | $3.5M | $4.2M | $3.7M |
| Other current assets | $42.3M | $25.1M | $14.9M | $12.2M | $5.5M | $8.6M | $4.2M | $1.6M |
| Total current assets | $767.6M | $395.8M | $265.1M | $216.6M | $269.9M | $113.1M | $69.6M | $47.3M |
| Property, plant & equipment (net) | $449.0M | $93.0M | $45.7M | $16.1M | $5.1M | $1.7M | $200,000 | $0 |
| Goodwill & intangible assets | $474.4M | $156.1M | $129.5M | $132.7M | $136.8M | $59,000 | $1.3M | $0 |
| Long-term investments | $351.3M | $0 | $0 | $0 | $0 | $204.5M | $203.1M | $0 |
| Other non-current assets | $112.4M | $62.6M | $947,000 | $889,000 | $8.8M | $0 | $0 | $181,000 |
| Total assets | $2.15B | $707.5M | $441.2M | $366.3M | $420.6M | $118.7M | $72.1M | $47.5M |
| Liabilities | ||||||||
| Accounts payable | $143.3M | $91.2M | $43.1M | $32.4M | $19.6M | $8.1M | $7.2M | $13.3M |
| Short-term debt | $4.8M | $1.9M | $1.3M | $1.7M | $1.4M | $4.3M | $1.5M | $7.8M |
| Deferred revenue | $127.2M | $75.3M | $7.7M | $1.5M | $3.2M | $1.3M | $753,000 | — |
| Total current liabilities | $404.4M | $221.4M | $88.5M | $47.9M | $79.2M | $15.2M | $20.6M | $24.1M |
| Long-term debt | $972.6M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $148.0M | $11.3M | $9.9M | $5.3M | $5.5M | $0 | — | — |
| Other long-term liabilities | $236.8M | $9.5M | $8.7M | $6.7M | $6.7M | $250.3M | $186.7M | $625,000 |
| Total liabilities | $1.61B | $230.8M | $97.2M | $54.6M | $86.0M | $265.6M | $207.4M | $24.7M |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | $23,000 | $22,000 | $21,000 | $21,000 | $20,000 | $5,000 | $4.5M | — |
| Retained earnings (deficit) | −$113.8M | −$242.1M | −$368.2M | −$344.6M | −$279.0M | −$171.3M | −$153.2M | −$81.1M |
| Accumulated other comprehensive income | $2.3M | −$324,000 | −$124,000 | −$277,000 | −$137,000 | −$11,000 | $2,000 | −$2,000 |
| Total shareholders' equity | $540.9M | $476.7M | $344.0M | $311.7M | $334.6M | −$146.9M | −$135.3M | $22.8M |
| Key figures | ||||||||
| Total debt | $1.12B | $11.3M | $9.9M | $5.3M | $5.5M | $4.3M | $1.5M | $8.4M |
| Net cash (debt) | −$543.1M | $288.9M | $211.0M | $174.3M | $241.8M | $95.9M | $58.9M | $33.1M |
| Working capital | $363.2M | $174.5M | $176.6M | $168.7M | $190.7M | $97.9M | $49.0M | $23.2M |
| Tangible book value | $66.5M | $320.6M | $214.6M | $179.0M | $197.8M | −$146.9M | −$136.6M | $22.8M |
| Book value per share | $2.09 | $2.01 | $1.64 | $1.52 | $1.79 | — | — | $0.34 |
| Shares outstanding | 258.2M | 236.8M | 209.3M | 204.5M | 186.8M | — | — | 67.3M |
| Current ratio | 1.90 | 1.79 | 3.00 | 4.52 | 3.41 | 7.43 | 3.38 | 1.96 |
| Quick ratio | 1.51 | 1.38 | 2.57 | 3.81 | 3.17 | 6.63 | 2.97 | 1.74 |
| Debt / equity | 2.07 | 0.02 | 0.03 | 0.02 | 0.02 | — | — | 0.37 |
| Equity / assets | 25.1% | 67.4% | 78.0% | 85.1% | 79.6% | −123.7% | −187.7% | 48.0% |
| 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 | $841.0M | $750.9M | $577.5M | $629.7M | $1.14B | $322.7M | $300.3M | $254.1M | $227.3M | $203.6M | $221.0M | $212.5M |
| Cash & equivalents | $609.8M | $222.3M | $228.6M | $345.8M | $1.12B | $273.7M | $220.6M | $165.5M | $129.3M | $105.2M | $96.7M | $58.0M |
| Short-term investments | $231.2M | $528.6M | $348.9M | $284.0M | $20.0M | $48.9M | $79.7M | $88.6M | $98.0M | $98.4M | $124.3M | $154.5M |
| Receivables | $375.3M | $149.6M | $32.1M | $41.3M | $6.7M | $6.9M | $6.1M | $4.6M | $5.6M | $6.4M | $6.7M | $4.2M |
| Inventory | $87.8M | $84.7M | $115.7M | $106.0M | $141.8M | $76.1M | $64.4M | $49.1M | $40.6M | $29.8M | $22.5M | $22.0M |
| Other current assets | $80.5M | $60.2M | $42.3M | $68.2M | $62.4M | $41.3M | $25.1M | $18.6M | $17.5M | $21.9M | $14.9M | $11.5M |
| Total current assets | $1.38B | $1.05B | $767.6M | $845.3M | $1.36B | $447.0M | $395.8M | $326.4M | $290.9M | $261.7M | $265.1M | $250.2M |
| Property, plant & equipment (net) | $529.8M | $478.1M | $449.0M | $406.7M | $277.1M | $217.9M | $93.0M | $63.0M | $60.6M | $56.6M | $45.7M | $32.5M |
| Goodwill & intangible assets | $1.52B | $603.9M | $474.4M | $454.2M | $158.4M | $161.2M | $156.1M | $157.5M | $128.0M | $128.7M | $129.5M | $130.2M |
| Long-term investments | $0 | $0 | $351.3M | $438.3M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $189.9M | $139.7M | $112.4M | $88.8M | $86.5M | $65.7M | $62.6M | $55.3M | $994,000 | $994,000 | $947,000 | $928,000 |
| Total assets | $3.63B | $2.27B | $2.15B | $2.23B | $1.88B | $891.7M | $707.5M | $602.3M | $480.5M | $448.1M | $441.2M | $413.9M |
| Liabilities | ||||||||||||
| Accounts payable | $501.3M | $306.9M | $143.3M | $198.4M | $105.0M | $108.9M | $91.2M | $75.4M | $57.1M | $43.9M | $43.1M | $42.0M |
| Short-term debt | $11.6M | $5.6M | $4.8M | $3.4M | $3.1M | $3.7M | $1.9M | $1.8M | $1.6M | $1.5M | $1.3M | $1.9M |
| Deferred revenue | $141.4M | $165.1M | $127.2M | $118.5M | $98.4M | $110.8M | $75.3M | $32.2M | $21.0M | $13.7M | $7.7M | $4.4M |
| Total current liabilities | $1.48B | $618.8M | $404.4M | $450.8M | $272.2M | $280.4M | $221.4M | $152.6M | $108.7M | $93.3M | $88.5M | $82.5M |
| Long-term debt | $1.37B | $974.1M | $972.6M | $971.0M | $969.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $180.9M | $157.9M | $148.0M | $147.0M | $74.9M | $63.4M | $11.3M | $11.4M | $11.5M | $11.8M | $9.9M | $4.7M |
| Other long-term liabilities | $456.2M | $228.0M | $236.8M | $230.5M | $73.2M | $62.1M | $9.5M | $9.6M | $9.9M | $10.3M | $8.7M | $2.8M |
| Total liabilities | $3.30B | $1.82B | $1.61B | $1.65B | $1.31B | $342.4M | $230.8M | $162.2M | $118.5M | $103.6M | $97.2M | $85.3M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $23,000 | $23,000 | $23,000 | $23,000 | $23,000 | $22,000 | $22,000 | $22,000 | $22,000 | $21,000 | $21,000 | $21,000 |
| Retained earnings (deficit) | −$292.2M | −$205.9M | −$113.8M | −$134.4M | −$150.1M | −$192.7M | −$242.1M | −$268.2M | −$343.8M | −$357.0M | −$368.2M | −$369.4M |
| Accumulated other comprehensive income | −$46.0M | −$4.4M | $2.3M | $921,000 | $822,000 | −$164,000 | −$324,000 | $229,000 | −$168,000 | −$162,000 | −$124,000 | −$133,000 |
| Total shareholders' equity | $324.1M | $446.2M | $540.9M | $581.0M | $562.7M | $549.3M | $476.7M | $440.1M | $362.0M | $344.5M | $344.0M | $328.6M |
| Key figures | ||||||||||||
| Total debt | $1.55B | $1.13B | $1.12B | $1.12B | $1.04B | $63.4M | $11.3M | $11.4M | $11.5M | $11.8M | $9.9M | $4.7M |
| Net cash (debt) | −$705.2M | −$381.2M | −$543.1M | −$488.3M | $100.2M | $259.3M | $288.9M | $242.7M | $215.8M | $191.8M | $211.0M | $207.8M |
| Working capital | −$98.6M | $426.6M | $363.2M | $394.5M | $1.08B | $166.6M | $174.5M | $173.7M | $182.2M | $168.4M | $176.6M | $167.7M |
| Tangible book value | −$1.20B | −$157.7M | $66.5M | $126.8M | $404.3M | $388.1M | $320.6M | $282.5M | $234.0M | $215.7M | $214.6M | $198.4M |
| Book value per share | $1.40 | $1.95 | $2.18 | $2.34 | $2.19 | $2.23 | $1.98 | $1.87 | $1.54 | $1.50 | $1.64 | $1.56 |
| Shares outstanding | 231.7M | 228.4M | 248.1M | 248.7M | 256.8M | 246.6M | 240.7M | 235.1M | 234.8M | 229.4M | 209.7M | 210.1M |
| Current ratio | 0.93 | 1.69 | 1.90 | 1.88 | 4.98 | 1.59 | 1.79 | 2.14 | 2.68 | 2.80 | 3.00 | 3.03 |
| Quick ratio | 0.82 | 1.46 | 1.51 | 1.49 | 4.23 | 1.18 | 1.38 | 1.69 | 2.14 | 2.25 | 2.57 | 2.63 |
| Debt / equity | 4.77 | 2.54 | 2.07 | 1.92 | 1.86 | 0.12 | 0.02 | 0.03 | 0.03 | 0.03 | 0.03 | 0.01 |
| Equity / assets | 8.9% | 19.7% | 25.1% | 26.0% | 30.0% | 61.6% | 67.4% | 73.1% | 75.3% | 76.9% | 78.0% | 79.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 23, 2026); data from EODHD.
HIMS financial position
At the end of fiscal 2025 (December 31, 2025), Hims & Hers Health had total assets of $2.2 billion (up 204.5% from a year earlier), total liabilities of $1.6 billion and shareholders' equity of $540.9 million. It held $577.5 million in cash and short-term investments against $1.1 billion of debt, net debt of $543.1 million. Its current ratio was 1.90. In the latest quarter (ended June 30, 2026) total assets were $3.6 billion and equity $324.1 million.
Related: HIMS income statement, HIMS cash flow statement, HIMS key metrics. See the HIMS stock overview for the latest quote and news.
HIMS balance sheet FAQ
What are Hims & Hers Health's total assets?
Hims & Hers Health reported total assets of $2.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $707.5 million a year earlier.
How much debt does Hims & Hers Health have?
Hims & Hers Health had $1.1 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 2.07.
How much cash does Hims & Hers Health have?
Hims & Hers Health held $577.5 million in cash and short-term investments at the end of fiscal 2025; with $1.1 billion of debt that is net debt of $543.1 million.
What is Hims & Hers Health's book value?
Hims & Hers Health's shareholders' equity (book value) was $540.9 million at the end of fiscal 2025, or $2.09 per share.
What is Hims & Hers Health's current ratio?
Hims & Hers Health had current assets of $767.6 million and current liabilities of $404.4 million, a current ratio of 1.90 (it can cover its short-term obligations).
How much goodwill does Hims & Hers Health have?
Hims & Hers Health carried $474.4 million of goodwill and intangible assets, 22.0% of total assets, at the end of fiscal 2025.