indie Semiconductor, Inc. (INDI) Balance Sheet
INDI balance sheet, 2025
December 31, 2025 · U.S. dollars$840.8M assets = $458.1M liabilities + $382.7M equity
Both columns are drawn to the same scale: what INDI owns equals what it owes plus shareholders’ equity. Hover a block for its value.
INDI financial health
Descriptive bands, not a rating. Fiscal 2025.
INDI balance sheet trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $41.5M2018 | $840.8M2025 | +53.7%/yr | |
| Total liabilities | $29.4M2018 | $458.1M2025 | +48.1%/yr | |
| Shareholders’ equity | $10.5M2018 | $356.8M2025 | +65.4%/yr | |
| Cash & short-term investments | $24.2M2018 | $155.7M2025 | +30.5%/yr | |
| Total debt | $20.3M2018 | $379.5M2025 | +51.9%/yr | |
| Net cash (debt) | $3.8M2018 | −$223.8M2025 | −$227.6M | |
| Working capital | $26.4M2018 | $207.9M2025 | +$181.5M | |
| Book value per share | $0.102018 | $1.792025 | +51.2%/yr | |
| Current ratio | 4.292018 | 3.672025 | −0.62 | |
| Debt / equity | 1.932018 | 1.062025 | −0.87 | |
| Shares outstanding | 106.2M2018 | 199.3M2025 | +9.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
INDI assets
INDI liabilities and equity
INDI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
INDI balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | $155.7M | $274.2M | $151.7M | $321.6M | $219.1M | $18.7M | $497,549 | $24.2M |
| Cash & equivalents | $155.7M | $274.2M | $151.7M | $321.6M | $219.1M | $18.7M | $497,549 | $24.2M |
| Receivables | $57.5M | $52.0M | $72.1M | $26.4M | $13.8M | $6.0M | $4.6M | $5.1M |
| Inventory | $48.6M | $49.9M | $33.1M | $13.3M | $9.1M | $2.9M | $4.3M | $4.7M |
| Other current assets | $23.9M | $32.6M | $14.9M | $12.5M | $6.0M | $2.4M | $0 | $443,000 |
| Total current assets | $285.8M | $408.7M | $271.8M | $373.9M | $248.0M | $30.0M | $928,843 | $34.4M |
| Property, plant & equipment (net) | $57.7M | $50.4M | $40.8M | $27.9M | $11.1M | $2.2M | $2.4M | $1.6M |
| Goodwill & intangible assets | $488.6M | $475.3M | $503.2M | $199.6M | $209.9M | $2.8M | $2.3M | $5.3M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $8.8M | $6.9M | $3.1M | $2.0M | $270,000 | $154,000 | $342.8M | $194,000 |
| Total assets | $840.8M | $941.4M | $818.9M | $603.4M | $469.3M | $35.1M | $348.4M | $41.5M |
| Liabilities | ||||||||
| Accounts payable | $23.1M | $28.3M | $18.4M | $14.2M | $5.4M | $4.6M | $4.7M | $3.0M |
| Short-term debt | $13.6M | $15.2M | $6.8M | $17.7M | $2.3M | $8.5M | $4.2M | $2.3M |
| Deferred revenue | — | $8.6M | $6.9M | $11.1M | $7.4M | $3.9M | −$8.9M | — |
| Total current liabilities | $77.8M | $84.9M | $138.9M | $64.0M | $33.7M | $122.2M | $23.4M | $8.0M |
| Long-term debt | $339.8M | $369.1M | $156.7M | $155.7M | $5.6M | $12.3M | $0 | $0 |
| Lease obligations | $16.3M | $17.3M | $13.5M | $10.1M | $0 | — | — | — |
| Other long-term liabilities | $40.4M | $42.0M | $46.2M | $69.4M | $138.1M | $2.1M | $12.1M | $21.3M |
| Total liabilities | $458.1M | $496.0M | $341.9M | $289.0M | $177.4M | $136.6M | $35.5M | $29.4M |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | $22,000 | $21,000 | $18,000 | $15,000 | $14,000 | $6,000 | $347.5M | $41.5M |
| Retained earnings (deficit) | −$638.0M | −$494.0M | −$361.4M | −$243.8M | −$200.4M | −$153.3M | −$34.6M | −$31.3M |
| Accumulated other comprehensive income | −$3.9M | −$24.7M | −$6.2M | −$12.0M | −$1.4M | −$209,000 | −$241,000 | −$160,000 |
| Minority interest | $26.0M | $27.5M | $30.9M | $1.5M | −$21.2M | — | — | — |
| Total shareholders' equity | $356.8M | $417.9M | $446.1M | $312.8M | $313.0M | −$110.3M | $312.9M | $10.5M |
| Key figures | ||||||||
| Total debt | $379.5M | $398.6M | $174.3M | $183.5M | $7.9M | $20.8M | $19.0M | $20.3M |
| Net cash (debt) | −$223.8M | −$124.3M | −$22.7M | $138.2M | $211.2M | −$2.1M | −$18.5M | $3.8M |
| Working capital | $207.9M | $323.9M | $132.9M | $309.9M | $214.3M | −$92.2M | −$22.5M | $26.4M |
| Tangible book value | −$131.7M | −$57.4M | −$57.1M | $113.2M | $103.2M | −$113.1M | $310.6M | $5.2M |
| Book value per share | $1.79 | $2.39 | $3.07 | $2.64 | $4.47 | −$1.09 | $2.82 | $0.10 |
| Shares outstanding | 199.3M | 175.0M | 145.2M | 118.7M | 70.0M | 101.5M | 111.1M | 106.2M |
| Current ratio | 3.67 | 4.82 | 1.96 | 5.85 | 7.36 | 0.25 | 0.04 | 4.29 |
| Quick ratio | 2.74 | 3.84 | 1.61 | 5.44 | 6.91 | 0.20 | 0.22 | 3.65 |
| Debt / equity | 1.06 | 0.95 | 0.39 | 0.59 | 0.03 | — | 0.06 | 1.93 |
| Equity / assets | 42.4% | 44.4% | 54.5% | 51.8% | 66.7% | −314.0% | 89.8% | 25.4% |
| 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 | $139.0M | $184.7M | $145.5M | $171.2M | $192.6M | $236.6M | $274.2M | $96.9M | $122.6M | $138.2M | $151.7M | $160.6M |
| Cash & equivalents | $139.0M | $184.7M | $145.5M | $171.2M | $192.6M | $236.6M | $274.2M | $96.9M | $122.6M | $138.2M | $151.7M | $160.6M |
| Receivables | $67.8M | $60.5M | $57.5M | $53.2M | $59.1M | $62.9M | $52.0M | $56.2M | $66.0M | $52.4M | $63.6M | $43.5M |
| Inventory | $67.6M | $57.0M | $48.6M | $45.6M | $47.0M | $47.8M | $49.9M | $52.2M | $42.5M | $37.9M | $33.1M | $39.5M |
| Other current assets | $37.1M | $24.9M | $34.2M | $27.1M | $33.0M | $34.4M | $32.6M | $35.6M | $16.4M | $35.3M | $23.4M | $26.3M |
| Total current assets | $311.6M | $327.2M | $285.8M | $297.1M | $331.8M | $381.7M | $408.7M | $240.8M | $247.6M | $263.8M | $271.8M | $269.9M |
| Property, plant & equipment (net) | $58.1M | $57.8M | $57.7M | $57.2M | $55.2M | $50.2M | $50.4M | $51.6M | $48.0M | $43.7M | $40.8M | $40.0M |
| Goodwill & intangible assets | $463.4M | $476.0M | $488.6M | $494.7M | $474.8M | $470.7M | $475.3M | $498.1M | $494.7M | $489.0M | $503.2M | $505.9M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $8.5M | $8.6M | $8.8M | $6.0M | $5.9M | $6.4M | $6.9M | $7.0M | $7.1M | $7.1M | $3.1M | $3.6M |
| Total assets | $841.5M | $869.6M | $840.8M | $855.1M | $867.6M | $909.0M | $941.4M | $797.5M | $797.3M | $803.6M | $818.9M | $819.5M |
| Liabilities | ||||||||||||
| Accounts payable | $24.8M | $24.4M | $23.1M | $19.1M | $19.7M | $18.5M | $28.3M | $26.0M | $26.5M | $19.0M | $18.4M | $19.6M |
| Short-term debt | $15.8M | $15.7M | $13.6M | $17.6M | $17.5M | $15.2M | $15.2M | $21.9M | $15.3M | $15.9M | $6.8M | $7.8M |
| Deferred revenue | $9.9M | $10.0M | — | $7.8M | $8.2M | $8.6M | $8.6M | $8.9M | $7.3M | $5.0M | $6.9M | $7.8M |
| Total current liabilities | $85.3M | $79.6M | $77.8M | $79.2M | $76.5M | $72.0M | $84.9M | $100.9M | $93.1M | $151.7M | $138.9M | $149.0M |
| Long-term debt | $403.7M | $402.8M | $339.8M | $339.1M | $338.2M | $367.0M | $369.1M | $157.5M | $157.3M | $157.0M | $156.7M | $156.5M |
| Lease obligations | $15.2M | $15.8M | $16.3M | $16.9M | $16.6M | $16.8M | $17.3M | $18.3M | $14.1M | $14.0M | $13.5M | $10.9M |
| Other long-term liabilities | $30.3M | $38.2M | $40.4M | $43.8M | $37.8M | $38.2M | $42.0M | $50.2M | $44.3M | $33.5M | $46.2M | $101.3M |
| Total liabilities | $519.4M | $520.6M | $458.1M | $462.2M | $452.5M | $477.3M | $496.0M | $308.7M | $294.7M | $342.2M | $341.9M | $406.7M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $22,000 | $23,000 | $22,000 | $22,000 | $22,000 | $21,000 | $21,000 | $18,000 | $20,000 | $19,000 | $18,000 | $17,000 |
| Retained earnings (deficit) | −$717.4M | −$680.3M | −$638.0M | −$605.9M | −$567.6M | −$528.6M | −$494.0M | −$461.5M | −$411.8M | −$392.6M | −$361.4M | −$346.8M |
| Accumulated other comprehensive income | −$13.2M | −$8.9M | −$3.9M | −$10.3M | −$5.9M | −$22.8M | −$24.7M | −$8.5M | −$13.8M | −$10.8M | −$6.2M | −$20.3M |
| Minority interest | $27.5M | $24.4M | $26.0M | $23.7M | $24.7M | — | — | — | — | — | — | — |
| Total shareholders' equity | $294.7M | $324.6M | $356.8M | $369.2M | $390.4M | $405.6M | $417.9M | $458.6M | $470.7M | $432.9M | $446.1M | $413.5M |
| Key figures | ||||||||||||
| Total debt | $431.3M | $430.9M | $379.5M | $370.5M | $369.0M | $395.8M | $398.6M | $195.0M | $184.0M | $184.2M | $174.3M | $175.1M |
| Net cash (debt) | −$292.3M | −$246.2M | −$234.0M | −$199.3M | −$176.5M | −$159.2M | −$124.3M | −$98.1M | −$61.3M | −$46.0M | −$22.7M | −$14.4M |
| Working capital | $226.3M | $247.5M | $207.9M | $217.9M | $255.3M | $309.7M | $323.9M | $139.9M | $154.4M | $112.1M | $132.9M | $121.0M |
| Tangible book value | −$168.7M | −$151.4M | −$131.7M | −$125.5M | −$84.4M | −$65.2M | −$57.4M | −$39.5M | −$24.0M | −$56.2M | −$57.1M | −$92.4M |
| Book value per share | $1.39 | $1.63 | $1.79 | $1.85 | $2.00 | $2.12 | $2.25 | $2.55 | $2.77 | $2.63 | $2.79 | $2.81 |
| Shares outstanding | 212.0M | 199.3M | 199.3M | 199.3M | 195.4M | 191.5M | 185.7M | 179.5M | 170.2M | 164.6M | 160.0M | 147.0M |
| Current ratio | 3.65 | 4.11 | 3.67 | 3.75 | 4.34 | 5.30 | 4.82 | 2.39 | 2.66 | 1.74 | 1.96 | 1.81 |
| Quick ratio | 2.42 | 3.08 | 2.61 | 2.83 | 3.29 | 4.16 | 3.84 | 1.52 | 2.03 | 1.26 | 1.55 | 1.37 |
| Debt / equity | 1.46 | 1.33 | 1.06 | 1.00 | 0.95 | 0.98 | 0.95 | 0.43 | 0.39 | 0.43 | 0.39 | 0.42 |
| Equity / assets | 35.0% | 37.3% | 42.4% | 43.2% | 45.0% | 44.6% | 44.4% | 57.5% | 59.0% | 53.9% | 54.5% | 50.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.
INDI financial position
At the end of fiscal 2025 (December 31, 2025), indie Semiconductor had total assets of $840.8 million (down 10.7% from a year earlier), total liabilities of $458.1 million and shareholders' equity of $356.8 million. It held $155.7 million in cash and short-term investments against $379.5 million of debt, net debt of $223.8 million. Its current ratio was 3.67. In the latest quarter (ended June 30, 2026) total assets were $841.5 million and equity $294.7 million.
Related: INDI income statement, INDI cash flow statement, INDI key metrics. See the INDI stock overview for the latest quote and news.
INDI balance sheet FAQ
What are indie Semiconductor's total assets?
indie Semiconductor reported total assets of $840.8 million at the end of fiscal 2025 (December 31, 2025), compared with $941.4 million a year earlier.
How much debt does indie Semiconductor have?
indie Semiconductor had $379.5 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.06.
How much cash does indie Semiconductor have?
indie Semiconductor held $155.7 million in cash and short-term investments at the end of fiscal 2025; with $379.5 million of debt that is net debt of $223.8 million.
What is indie Semiconductor's book value?
indie Semiconductor's shareholders' equity (book value) was $356.8 million at the end of fiscal 2025, or $1.79 per share.
What is indie Semiconductor's current ratio?
indie Semiconductor had current assets of $285.8 million and current liabilities of $77.8 million, a current ratio of 3.67 (it can cover its short-term obligations).
How much goodwill does indie Semiconductor have?
indie Semiconductor carried $488.6 million of goodwill and intangible assets, 58.1% of total assets, at the end of fiscal 2025.