Infinity Natural Resources, Inc. (INR) Balance Sheet
INR balance sheet, 2025
December 31, 2025 · U.S. dollars$1.24B assets = $262.9M liabilities + $977.9M equity
Both columns are drawn to the same scale: what INR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
INR financial health
Descriptive bands, not a rating. Fiscal 2025.
INR balance sheet trends, 2022–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $266.7M2022 | $1.24B2025 | +66.9%/yr | |
| Total liabilities | $117.2M2022 | $262.9M2025 | +30.9%/yr | |
| Shareholders’ equity | $149.5M2022 | $307.1M2025 | +27.1%/yr | |
| Cash & short-term investments | $739,0002022 | $2.8M2025 | +56.8%/yr | |
| Total debt | $59.0M2022 | $152.0M2025 | +37.1%/yr | |
| Net cash (debt) | −$58.2M2022 | −$149.2M2025 | −$90.9M | |
| Working capital | −$28.3M2022 | $58.1M2025 | +$86.4M | |
| Book value per share | $2.532022 | $18.302025 | +93.4%/yr | |
| Current ratio | 0.512022 | 1.572025 | +1.06 | |
| Debt / equity | 0.392022 | 0.492025 | +0.10 | |
| Shares outstanding | 59.1M2022 | 16.8M2025 | −34.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
INR assets
INR liabilities and equity
INR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
INR balance sheet
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Assets | ||||
| Cash & short-term investments | $2.8M | $2.2M | $1.5M | $739,000 |
| Cash & equivalents | $2.8M | $2.2M | $1.5M | $739,000 |
| Short-term investments | $61.2M | — | — | — |
| Receivables | $67.7M | $71.5M | $44.1M | $22.3M |
| Inventory | $0 | $0 | $0 | $0 |
| Other current assets | $90.0M | $11.8M | $24.4M | $6.0M |
| Total current assets | $160.6M | $85.6M | $70.0M | $29.1M |
| Property, plant & equipment (net) | $1.07B | $821.4M | $607.4M | $233.8M |
| Goodwill & intangible assets | $22.74B | $23.16B | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $11.1M | $3.9M |
| Total assets | $1.24B | $915.5M | $688.5M | $266.7M |
| Liabilities | ||||
| Accounts payable | $38.6M | $51.4M | $37.7M | $41.4M |
| Short-term debt | $181,000 | $348,000 | $229,000 | $183,000 |
| Total current liabilities | $102.6M | $133.3M | $56.6M | $57.4M |
| Long-term debt | $150.9M | $259.4M | $171.1M | $58.1M |
| Lease obligations | $1.1M | $1.4M | $757,000 | $837,000 |
| Other long-term liabilities | $9.5M | $14.5M | $2.4M | $1.8M |
| Total liabilities | $262.9M | $407.2M | $230.1M | $117.2M |
| Shareholders' equity | ||||
| Common stock & paid-in capital | $607,000 | $508.2M | $458.5M | $149.5M |
| Retained earnings (deficit) | −$4.4M | $104.99B | — | — |
| Accumulated other comprehensive income | −$6.29B | −$6.81B | — | — |
| Minority interest | $670.8M | $0 | — | — |
| Total shareholders' equity | $307.1M | $508.2M | $458.5M | $149.5M |
| Key figures | ||||
| Total debt | $152.0M | $260.9M | $172.0M | $59.0M |
| Net cash (debt) | −$149.2M | −$258.7M | −$170.5M | −$58.2M |
| Working capital | $58.1M | −$47.8M | $13.4M | −$28.3M |
| Tangible book value | −$22.43B | −$22.65B | $458.5M | $149.5M |
| Book value per share | $18.30 | $38.36 | $7.76 | $2.53 |
| Shares outstanding | 16.8M | 13.2M | 59.1M | 59.1M |
| Current ratio | 1.57 | 0.64 | 1.24 | 0.51 |
| Quick ratio | 0.69 | 0.55 | 0.81 | 0.40 |
| Debt / equity | 0.49 | 0.51 | 0.38 | 0.39 |
| Equity / assets | 24.8% | 55.5% | 66.6% | 56.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $25.9M | $73.0M | $2.8M | $4.6M | $6.3M | $4.9M | $2.2M | $23.1M | $6.9M | $1.5M |
| Cash & equivalents | $25.9M | $73.0M | $2.8M | $4.6M | $6.3M | $4.9M | $2.2M | $23.1M | $6.9M | $1.5M |
| Short-term investments | — | — | $61.2M | — | — | — | $105.38B | $91.08B | — | — |
| Receivables | $105.7M | $85.4M | $67.7M | $49.8M | $34.3M | $49.5M | $71.5M | $49.8M | $40.5M | $44.1M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $31.1M | $19.3M | $90.0M | $12.4M | $9.7M | $4.1M | $11.8M | $10.4M | $7.0M | $24.4M |
| Total current assets | $162.7M | $177.7M | $160.6M | $66.8M | $50.3M | $58.5M | $85.6M | $83.3M | $54.4M | $70.0M |
| Property, plant & equipment (net) | $1.99B | $1.90B | $1.07B | $1.03B | $964.7M | $887.7M | $821.4M | $744.8M | $671.1M | $607.4M |
| Goodwill & intangible assets | $22.98B | $0 | $22.74B | $22.82B | $22.92B | $23.02B | $23.16B | $23.36B | $23.48B | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $26.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $11.1M |
| Total assets | $2.19B | $2.10B | $1.24B | $1.11B | $1.02B | $953.9M | $915.5M | $851.0M | $729.6M | $688.5M |
| Liabilities | ||||||||||
| Accounts payable | $29.9M | $47.6M | $38.6M | $68.4M | $57.6M | $46.6M | $51.4M | $31.2M | $20.8M | $37.7M |
| Short-term debt | $593,000 | $535,000 | $181,000 | $177,000 | $236,000 | $289,000 | $348,000 | $320,000 | $364,000 | $229,000 |
| Total current liabilities | $187.2M | $203.5M | $102.6M | $128.7M | $119.9M | $137.6M | $133.3M | $83.1M | $65.2M | $56.6M |
| Long-term debt | $538.1M | $537.6M | $150.9M | $75.4M | $34.4M | $11.4M | $259.4M | $224.8M | $187.6M | $171.1M |
| Lease obligations | $1.9M | $1.7M | $1.1M | $1.2M | $1.2M | $1.3M | $1.4M | $944,000 | $1.0M | $757,000 |
| Other long-term liabilities | $356.3M | $355.7M | $9.5M | $11.5M | $13.1M | $22.9M | $14.5M | $0 | $7.8M | $2.4M |
| Total liabilities | $1.08B | $1.10B | $262.9M | $215.6M | $167.3M | $171.9M | $407.2M | $86.9M | $260.6M | $230.1M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $634,000 | $634,000 | $607,000 | $608,000 | $608,000 | $608,000 | $508.2M | $589,000 | $469.0M | $458.5M |
| Retained earnings (deficit) | $15.6M | −$9.4M | −$4.4M | −$24.5M | −$34.9M | −$52.8M | $104.99B | $102.91B | $101.37B | — |
| Accumulated other comprehensive income | −$6.33B | — | −$5.51B | $0 | −$5.91B | −$5.96B | −$6.81B | −$5.99B | −$6.76B | — |
| Minority interest | $706.6M | $822.2M | $670.8M | $608.4M | $846.1M | — | — | — | — | — |
| Total shareholders' equity | $398.9M | $180.4M | $307.1M | $288.6M | $10.1M | −$52.2M | $508.2M | $171.9M | $469.0M | $458.5M |
| Key figures | ||||||||||
| Total debt | $540.0M | $539.3M | $152.0M | $76.6M | $35.7M | $12.8M | $260.9M | $1.1M | $188.7M | $172.0M |
| Net cash (debt) | −$514.1M | −$466.3M | −$149.2M | −$72.0M | −$29.4M | −$7.9M | −$258.7M | $22.0M | −$181.8M | −$170.5M |
| Working capital | −$24.4M | −$25.8M | $58.1M | −$61.9M | −$69.5M | −$79.0M | −$47.8M | $149,000 | −$10.8M | $13.4M |
| Tangible book value | −$22.58B | $180.4M | −$22.43B | −$22.53B | −$22.91B | −$23.07B | −$22.65B | −$23.18B | −$23.01B | $458.5M |
| Book value per share | $11.02 | $10.22 | $18.30 | $18.16 | $0.67 | −$3.43 | $38.36 | $12.98 | $35.39 | $7.76 |
| Shares outstanding | 36.2M | 17.7M | 16.8M | 15.9M | 15.2M | 15.2M | 13.2M | 13.2M | 13.2M | 59.1M |
| Current ratio | 0.87 | 0.87 | 1.57 | 0.52 | 0.42 | 0.43 | 0.64 | 1.00 | 0.83 | 1.24 |
| Quick ratio | 0.70 | 0.78 | 0.69 | 0.42 | 0.34 | 0.40 | 0.55 | 0.88 | 0.73 | 0.81 |
| Debt / equity | 1.35 | 2.99 | 0.49 | 0.27 | 3.52 | — | 0.51 | 0.01 | 0.40 | 0.38 |
| Equity / assets | 18.2% | 8.6% | 24.8% | 25.9% | 1.0% | −5.5% | 55.5% | 20.2% | 64.3% | 66.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 19, 2026); data from EODHD.
INR financial position
At the end of fiscal 2025 (December 31, 2025), Infinity Natural Resources had total assets of $1.2 billion (up 35.5% from a year earlier), total liabilities of $262.9 million and shareholders' equity of $307.1 million. It held $2.8 million in cash and short-term investments against $152.0 million of debt, net debt of $149.2 million. Its current ratio was 1.57. In the latest quarter (ended June 30, 2026) total assets were $2.2 billion and equity $398.9 million.
Related: INR income statement, INR cash flow statement, INR key metrics. See the INR stock overview for the latest quote and news.
INR balance sheet FAQ
What are Infinity Natural Resources's total assets?
Infinity Natural Resources reported total assets of $1.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $915.5 million a year earlier.
How much debt does Infinity Natural Resources have?
Infinity Natural Resources had $152.0 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.49.
How much cash does Infinity Natural Resources have?
Infinity Natural Resources held $2.8 million in cash and short-term investments at the end of fiscal 2025; with $152.0 million of debt that is net debt of $149.2 million.
What is Infinity Natural Resources's book value?
Infinity Natural Resources's shareholders' equity (book value) was $307.1 million at the end of fiscal 2025, or $18.30 per share.
What is Infinity Natural Resources's current ratio?
Infinity Natural Resources had current assets of $160.6 million and current liabilities of $102.6 million, a current ratio of 1.57 (it can cover its short-term obligations).
How much goodwill does Infinity Natural Resources have?
Infinity Natural Resources carried $22.7 billion of goodwill and intangible assets, 1,832.3% of total assets, at the end of fiscal 2025.