New Horizon Aircraft Ltd. (HOVR) Balance Sheet

NASDAQ: HOVRAssets, liabilities, debt and equity over 4 years.

HOVR balance sheet, 2025

December 31, 2025 · Canadian dollars

C$11.5M assets = C$8.0M liabilities + C$3.6M equity

What it ownsC$11.5MCash & ST investments: C$10.4M (89.7%)Cash & ST investmentsC$10.4M · 90%Receivables: C$131,730 (1.1%)Other current: C$727,261 (6.3%)Other current C$727,261PP&E: C$119,380 (1.0%)Goodwill & intangibles: C$208,572 (1.8%)Other non-current: C$2 (0.0%)=How it is financedC$11.5MCurrent liabilities: C$1.8M (15.8%)Current liabilitiesC$1.8M · 16%Other LT liabilities: C$6.2M (53.4%)Other LT liabilitiesC$6.2M · 53%Shareholders’ equity: C$3.6M (30.8%)Shareholders’ equityC$3.6M · 31%

Both columns are drawn to the same scale: what HOVR owns equals what it owes plus shareholders’ equity. Hover a block for its value.

HOVR financial health

Current ratio6.16
Comfortable · current assets cover current liabilities 6.16×
Debt / equity0.01
Low leverage · C$0.01 of debt for each $1 of equity
Equity / assets30.8%
Balanced · of assets funded by shareholders
Cash / debt25,157.1%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles1.8%
Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

HOVR balance sheet trends, 2021–2025

MetricTrendThenLatestChange
Total assetsC$1.2M2021C$11.5M2025+114.8%/yr
Total liabilitiesC$2.4M2021C$8.0M2025+48.5%/yr
Shareholders’ equity−C$1.3M2021C$3.6M2025—
Cash & short-term investmentsC$4,3222021C$10.4M2025+1,238.1%/yr
Total debtC$2.3M2021C$41,1652025−73.7%/yr
Net cash (debt)−C$2.3M2021C$10.3M2025+C$12.6M
Working capital−C$327,6262021C$9.4M2025+C$9.7M
Current ratio0.0220216.162025+6.14
Shares outstanding6.9M202130.8M2025+64.6%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

HOVR assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

HOVR liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

HOVR debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

HOVR balance sheet in Canadian dollars

2025202420232021
Assets
Cash & short-term investmentsC$10.4MC$1.8MC$1.8MC$4,322
Cash & equivalentsC$10.4MC$1.8MC$1.8MC$4,322
Short-term investments——C$1.8M—
ReceivablesC$131,730C$417,000C$417,000C$0
InventoryC$0C$0−C$2.7MC$0
Other current assetsC$727,261C$2.4MC$5.2MC$2,509
Total current assetsC$11.2MC$4.7MC$4.7MC$6,831
Property, plant & equipment (net)C$119,380C$128,000C$128,000C$262,406
Goodwill & intangible assetsC$208,572C$152,000C$152,000C$0
Long-term investmentsC$0C$0C$0C$0
Other non-current assetsC$2C$0C$0C$894,784
Total assetsC$11.5MC$4.9MC$4.9MC$1.2M
Liabilities
Accounts payableC$931,717C$715,000C$715,000C$159,908
Short-term debtC$30,188C$44,000C$44,000C$147,630
Total current liabilitiesC$1.8MC$1.3MC$1.3MC$334,457
Long-term debtC$0C$0C$0C$2.0M
Lease obligationsC$72,000C$30,000C$74,000C$180,016
Other long-term liabilitiesC$6.2MC$21.5MC$21.5MC$122,496
Total liabilitiesC$8.0MC$22.9MC$22.9MC$2.4M
Shareholders' equity
Common stock & paid-in capitalC$116.0MC$74.4MC$74.4MC$3.1M
Retained earnings (deficit)−C$13.0M−C$14.7M−C$14.7M−C$4.4M
Total shareholders' equityC$3.6M−C$17.9M−C$17.9M−C$1.3M
Key figures
Total debtC$41,165C$74,000C$74,000C$2.3M
Net cash (debt)C$10.3MC$1.7MC$1.7M−C$2.3M
Working capitalC$9.4MC$3.3MC$3.3M−C$327,626
Tangible book valueC$3.3M−C$18.1M−C$18.1M−C$1.3M
Shares outstanding30.8M10.7M17.9M6.9M
Current ratio6.163.503.500.02
Quick ratio5.761.681.680.01
Debt / equity0.01———
Equity / assets30.8%−362.7%−362.7%−109.8%

Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported (latest annual report filed August 22, 2025); data from EODHD.

HOVR financial position

At the end of fiscal 2025 (December 31, 2025), New Horizon Aircraft had total assets of C$11.5 million (up 133.5% from a year earlier), total liabilities of C$8.0 million and shareholders' equity of C$3.6 million. It held C$10.4 million in cash and short-term investments against C$0.0 million of debt, a net cash position of C$10.3 million. Its current ratio was 6.16. In the latest quarter (ended September 30, 2026) total assets were C$75.3 million and equity C$67.7 million.

Related: HOVR income statement, HOVR cash flow statement, HOVR key metrics. See the HOVR stock overview for the latest quote and news.

HOVR balance sheet FAQ

What are New Horizon Aircraft's total assets?

New Horizon Aircraft reported total assets of C$11.5 million at the end of fiscal 2025 (December 31, 2025), compared with C$4.9 million a year earlier.

How much debt does New Horizon Aircraft have?

New Horizon Aircraft had C$0.0 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 New Horizon Aircraft have?

New Horizon Aircraft held C$10.4 million in cash and short-term investments at the end of fiscal 2025; with C$0.0 million of debt that is net cash of C$10.3 million.

What is New Horizon Aircraft's book value?

New Horizon Aircraft's shareholders' equity (book value) was C$3.6 million at the end of fiscal 2025.

What is New Horizon Aircraft's current ratio?

New Horizon Aircraft had current assets of C$11.2 million and current liabilities of C$1.8 million, a current ratio of 6.16 (it can cover its short-term obligations).

How much goodwill does New Horizon Aircraft have?

New Horizon Aircraft carried C$0.2 million of goodwill and intangible assets, 1.8% of total assets, at the end of fiscal 2025.

Aerospace & Defense: balance sheet