HighPeak Energy, Inc. (HPK) Balance Sheet
HPK balance sheet, 2025
December 31, 2025 · U.S. dollars$3.34B assets = $1.75B liabilities + $1.59B equity
Both columns are drawn to the same scale: what HPK owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HPK financial health
Descriptive bands, not a rating. Fiscal 2025.
HPK balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $497.9M2019 | $3.34B2025 | +37.3%/yr | |
| Total liabilities | $44.7M2019 | $1.75B2025 | +84.2%/yr | |
| Shareholders’ equity | $453.2M2019 | $1.59B2025 | +23.3%/yr | |
| Cash & short-term investments | $22.7M2019 | $162.1M2025 | +38.8%/yr | |
| Total debt | $586,0002020 | $1.13B2025 | +354.3%/yr | |
| Net cash (debt) | $19.0M2020 | −$971.7M2025 | −$990.7M | |
| Working capital | $61.0M2019 | $29.6M2025 | −$31.4M | |
| Book value per share | $4.952019 | $12.732025 | +17.1%/yr | |
| Current ratio | 2.972019 | 1.132025 | −1.84 | |
| Debt / equity | 0.002020 | 0.712025 | +0.71 | |
| Shares outstanding | 91.6M2019 | 125.3M2025 | +5.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HPK assets
HPK liabilities and equity
HPK debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HPK balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $162.1M | $86.6M | $194.5M | $30.5M | $34.9M | $19.6M | $22.7M |
| Cash & equivalents | $162.1M | $86.6M | $194.5M | $30.5M | $34.9M | $19.6M | $22.7M |
| Receivables | $55.5M | $85.2M | $94.6M | $96.6M | $39.4M | $11.3M | $7.6M |
| Inventory | $7.6M | $11.0M | $7.3M | $13.3M | $3.3M | $121,000 | $184,000 |
| Other current assets | $34.6M | $12.2M | $32.5M | $4.2M | $9.4M | $2.3M | $61.6M |
| Total current assets | $259.9M | $195.0M | $328.8M | $144.5M | $87.0M | $33.3M | $92.0M |
| Property, plant & equipment (net) | $2.93B | $2.85B | $2.73B | $2.13B | $725.6M | $502.6M | $405.9M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $725,000 | $580,000 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $145.8M | $19.3M | $21.7M | $6.4M | $6.4M | $1.3M | $0 |
| Total assets | $3.34B | $3.06B | $3.08B | $2.28B | $819.0M | $537.9M | $497.9M |
| Liabilities | |||||||
| Accounts payable | $84.3M | $74.0M | $63.6M | $105.6M | $38.1M | $7.6M | $11.1M |
| Short-term debt | $845,000 | $719,000 | $120.5M | $343,000 | $856,000 | $508,000 | — |
| Deferred revenue | — | — | $29.7M | $131.2M | −$856,000 | −$508,000 | — |
| Total current liabilities | $230.3M | $284.6M | $287.4M | $266.1M | $103.0M | $22.4M | $31.0M |
| Long-term debt | $1.13B | $928.4M | $1.03B | $704.3M | $97.9M | $0 | $0 |
| Lease obligations | $987,000 | $1.4M | $528,000 | $343,000 | — | — | — |
| Other long-term liabilities | $382.4M | $247.8M | $210.4M | $139.4M | $65.0M | $41.3M | $13.7M |
| Total liabilities | $1.75B | $1.46B | $1.53B | $1.11B | $265.9M | $63.7M | $44.7M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $13,000 | $13,000 | $13,000 | $11,000 | $10,000 | $9,000 | $459.0M |
| Retained earnings (deficit) | $432.5M | $435.8M | $363.3M | $160.7M | −$64.4M | −$107.2M | −$5.7M |
| Accumulated other comprehensive income | — | — | $0 | — | $0 | $0 | −$1.6M |
| Total shareholders' equity | $1.59B | $1.60B | $1.55B | $1.17B | $553.1M | $474.2M | $453.2M |
| Key figures | |||||||
| Total debt | $1.13B | $929.8M | $1.15B | $704.7M | $98.8M | $586,000 | — |
| Net cash (debt) | −$971.7M | −$843.1M | −$956.3M | −$674.2M | −$63.9M | $19.0M | — |
| Working capital | $29.6M | −$89.6M | $41.4M | −$121.6M | −$16.0M | $10.9M | $61.0M |
| Tangible book value | $1.59B | $1.60B | $1.55B | $1.17B | $553.1M | $473.5M | $452.6M |
| Book value per share | $12.73 | $12.40 | $12.62 | $10.52 | $5.84 | $5.16 | $4.95 |
| Shares outstanding | 125.3M | 129.2M | 123.0M | 111.2M | 94.8M | 92.0M | 91.6M |
| Current ratio | 1.13 | 0.69 | 1.14 | 0.54 | 0.84 | 1.48 | 2.97 |
| Quick ratio | 0.95 | 0.60 | 1.01 | 0.48 | 0.72 | 1.38 | 0.98 |
| Debt / equity | 0.71 | 0.58 | 0.74 | 0.60 | 0.18 | 0.00 | — |
| Equity / assets | 47.7% | 52.3% | 50.4% | 51.3% | 67.5% | 88.2% | 91.0% |
| 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 | $146.3M | $95.8M | $162.1M | $164.9M | $21.9M | $51.6M | $86.6M | $135.6M | $157.9M | $173.4M | $194.5M | $151.8M |
| Cash & equivalents | $146.3M | $95.8M | $162.1M | $164.9M | $21.9M | $51.6M | $86.6M | $135.6M | $157.9M | $173.4M | $194.5M | $151.8M |
| Receivables | $75.0M | $98.5M | $55.5M | $54.6M | $71.4M | $78.4M | $85.2M | $76.4M | $87.6M | $109.0M | $94.6M | $126.0M |
| Inventory | $3.8M | $4.4M | $7.6M | $9.9M | $6.8M | $8.7M | $11.0M | $8.0M | $7.8M | $11.2M | $7.3M | $15.1M |
| Other current assets | $39.1M | $13.4M | $34.6M | $22.0M | $22.1M | $13.9M | $12.2M | $28.8M | $5.4M | $5.4M | $32.5M | $5.0M |
| Total current assets | $264.3M | $212.1M | $259.9M | $251.3M | $122.2M | $152.6M | $195.0M | $248.7M | $258.6M | $299.0M | $328.8M | $297.9M |
| Property, plant & equipment (net) | $2.89B | $2.90B | $2.93B | $3.1M | $2.95B | $2.92B | $2.85B | $2.80B | $2.79B | $2.75B | $2.73B | $2.68B |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $18.0M | $170.6M | $145.8M | $2.95B | $20.4M | $19.0M | $19.3M | $15.1M | $6.8M | $6.5M | $21.7M | $7.2M |
| Total assets | $3.17B | $3.28B | $3.34B | $3.20B | $3.09B | $3.09B | $3.06B | $3.06B | $3.06B | $3.05B | $3.08B | $2.99B |
| Liabilities | ||||||||||||
| Accounts payable | $52.6M | $51.2M | $84.3M | $44.6M | $64.3M | $66.5M | $74.0M | $52.6M | $40.5M | $47.3M | $63.6M | $50.3M |
| Short-term debt | $120.4M | $661,000 | $845,000 | $885,000 | $912,000 | $821,000 | $719,000 | $290,000 | $422,000 | $400,000 | $528,000 | $90.5M |
| Deferred revenue | — | — | — | — | — | — | — | — | — | $103.8M | $29.7M | $126.0M |
| Total current liabilities | $305.5M | $317.1M | $230.3M | $152.7M | $140.7M | $298.9M | $284.6M | $259.6M | $278.9M | $288.0M | $287.4M | $294.6M |
| Long-term debt | $1.07B | $1.10B | $1.13B | $1.16B | $1.03B | $902.8M | $928.4M | $953.8M | $979.3M | $1.00B | $1.03B | $1.06B |
| Lease obligations | $523,000 | $757,000 | $987,000 | $1.2M | $1.4M | $1.4M | $1.4M | $416,000 | $587,000 | $400,000 | $528,000 | $653,000 |
| Other long-term liabilities | $249.0M | $399.9M | $382.4M | $263.3M | $267.3M | $258.0M | $247.8M | $242.3M | $227.9M | $213.5M | $210.4M | $181.3M |
| Total liabilities | $1.62B | $1.81B | $1.75B | $1.58B | $1.44B | $1.46B | $1.46B | $1.46B | $1.49B | $1.51B | $1.53B | $1.53B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 |
| Retained earnings (deficit) | $387.4M | $305.1M | $432.5M | $463.3M | $487.2M | $466.6M | $435.8M | $432.4M | $388.1M | $364.1M | $363.3M | $271.8M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | $0 | $0 | $0 |
| Total shareholders' equity | $1.55B | $1.47B | $1.59B | $1.63B | $1.65B | $1.63B | $1.60B | $1.61B | $1.57B | $1.55B | $1.55B | $1.46B |
| Key figures | ||||||||||||
| Total debt | $1.19B | $1.10B | $1.13B | $1.16B | $1.03B | $904.2M | $929.8M | $954.2M | $979.9M | $1.01B | $1.03B | $1.15B |
| Net cash (debt) | −$1.04B | −$1.00B | −$971.7M | −$998.6M | −$1.01B | −$852.6M | −$843.1M | −$818.7M | −$821.9M | −$831.8M | −$836.3M | −$996.6M |
| Working capital | −$41.2M | −$105.0M | $29.6M | $98.6M | −$18.5M | −$146.3M | −$89.6M | −$10.9M | −$20.2M | $11.0M | $41.4M | $3.2M |
| Tangible book value | $1.55B | $1.47B | $1.59B | $1.63B | $1.65B | $1.63B | $1.60B | $1.61B | $1.57B | $1.55B | $1.55B | $1.46B |
| Book value per share | $12.27 | $11.72 | $12.73 | $13.03 | $13.12 | $12.84 | $12.40 | $12.44 | $12.15 | $11.94 | $11.89 | $11.46 |
| Shares outstanding | 126.4M | 125.3M | 125.3M | 124.8M | 126.1M | 127.2M | 129.2M | 129.1M | 129.2M | 129.6M | 130.6M | 127.0M |
| Current ratio | 0.87 | 0.67 | 1.13 | 1.65 | 0.87 | 0.51 | 0.69 | 0.96 | 0.93 | 1.04 | 1.14 | 1.01 |
| Quick ratio | 0.72 | 0.61 | 0.95 | 1.44 | 0.66 | 0.43 | 0.60 | 0.82 | 0.88 | 0.98 | 1.01 | 0.94 |
| Debt / equity | 0.77 | 0.75 | 0.71 | 0.72 | 0.62 | 0.55 | 0.58 | 0.59 | 0.62 | 0.65 | 0.66 | 0.79 |
| Equity / assets | 48.9% | 44.7% | 47.7% | 50.8% | 53.5% | 52.8% | 52.3% | 52.4% | 51.4% | 50.7% | 50.4% | 48.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
HPK financial position
At the end of fiscal 2025 (December 31, 2025), HighPeak Energy had total assets of $3.3 billion (up 9.0% from a year earlier), total liabilities of $1.7 billion and shareholders' equity of $1.6 billion. It held $162.1 million in cash and short-term investments against $1.1 billion of debt, net debt of $971.7 million. Its current ratio was 1.13. In the latest quarter (ended June 30, 2026) total assets were $3.2 billion and equity $1.6 billion.
Related: HPK income statement, HPK cash flow statement, HPK key metrics. See the HPK stock overview for the latest quote and news.
HPK balance sheet FAQ
What are HighPeak Energy's total assets?
HighPeak Energy reported total assets of $3.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $3.1 billion a year earlier.
How much debt does HighPeak Energy have?
HighPeak Energy 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 0.71.
How much cash does HighPeak Energy have?
HighPeak Energy held $162.1 million in cash and short-term investments at the end of fiscal 2025; with $1.1 billion of debt that is net debt of $971.7 million.
What is HighPeak Energy's book value?
HighPeak Energy's shareholders' equity (book value) was $1.6 billion at the end of fiscal 2025, or $12.73 per share.
What is HighPeak Energy's current ratio?
HighPeak Energy had current assets of $259.9 million and current liabilities of $230.3 million, a current ratio of 1.13 (it can cover its short-term obligations).