Joby Aviation, Inc. (JOBY) Balance Sheet
JOBY balance sheet, 2025
December 31, 2025 · U.S. dollars$1.80B assets = $385.4M liabilities + $1.41B equity
Both columns are drawn to the same scale: what JOBY owns equals what it owes plus shareholders’ equity. Hover a block for its value.
JOBY financial health
Descriptive bands, not a rating. Fiscal 2025.
JOBY balance sheet trends, 2020–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $497.3M2020 | $1.80B2025 | +29.3%/yr | |
| Total liabilities | $780.4M2020 | $385.4M2025 | −13.2%/yr | |
| Shareholders’ equity | −$283.2M2020 | $1.41B2025 | — | |
| Cash & short-term investments | $445.9M2020 | $1.41B2025 | +25.9%/yr | |
| Total debt | $2.6M2020 | $60.7M2025 | +87.2%/yr | |
| Net cash (debt) | $443.3M2020 | $1.35B2025 | +$904.1M | |
| Working capital | $443.2M2020 | $1.39B2025 | +$942.5M | |
| Book value per share | −$0.472020 | $1.712025 | — | |
| Debt / equity | 0.002021 | 0.042025 | +0.04 | |
| Shares outstanding | 603.9M2020 | 826.2M2025 | +6.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
JOBY assets
JOBY liabilities and equity
JOBY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
JOBY balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $1.41B | $932.9M | $1.03B | $1.06B | $1.30B | $445.9M |
| Cash & equivalents | $241.0M | $199.6M | $204.0M | $146.1M | $955.6M | $77.3M |
| Short-term investments | $1.17B | $733.2M | $828.2M | $910.7M | $343.2M | $368.6M |
| Receivables | $7.1M | $16.0M | $4.7M | $4.0M | $2.3M | $2.2M |
| Inventory | $0 | $0 | $0 | $22.2M | $16.8M | $2.8M |
| Other current assets | $30.5M | $20.7M | $18.8M | $1.1M | $636,000 | $205,000 |
| Total current assets | $1.45B | $969.6M | $1.06B | $1.08B | $1.32B | $451.2M |
| Property, plant & equipment (net) | $178.4M | $149.6M | $131.7M | $117.3M | $53.2M | $34.1M |
| Goodwill & intangible assets | $108.3M | $22.4M | $20.6M | $26.6M | $25.3M | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $20.3M | $11.0M |
| Other non-current assets | $62.6M | $61.8M | $61.4M | $65.0M | $71.1M | $955,000 |
| Total assets | $1.80B | $1.20B | $1.27B | $1.29B | $1.49B | $497.3M |
| Liabilities | ||||||
| Accounts payable | $3.6M | $4.3M | $3.0M | $7.7M | $3.6M | $4.9M |
| Short-term debt | $8.4M | $5.0M | $4.3M | $3.7M | $1.0M | $1.0M |
| Deferred revenue | — | $5.2M | $2.5M | — | $384,000 | $295,000 |
| Total current liabilities | $60.0M | $48.1M | $45.1M | $30.2M | $13.8M | $8.0M |
| Long-term debt | $0 | $0 | $0 | $0 | $672,000 | $946,000 |
| Lease obligations | $36.8M | $31.2M | $30.7M | $27.3M | $1.4M | $1.5M |
| Other long-term liabilities | $325.3M | $243.0M | $189.9M | $98.0M | $157.1M | $771.5M |
| Total liabilities | $385.4M | $291.1M | $235.1M | $128.2M | $171.6M | $780.4M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $91,000 | $78,000 | $70,000 | $61,000 | $60,000 | $768.3M |
| Retained earnings (deficit) | −$2.79B | −$1.86B | −$1.25B | −$734.7M | −$476.6M | −$296.3M |
| Accumulated other comprehensive income | $1.5M | −$583,000 | −$480,000 | −$8.8M | −$122,000 | $527,000 |
| Total shareholders' equity | $1.41B | $912.4M | $1.03B | $1.16B | $1.32B | −$283.2M |
| Key figures | ||||||
| Total debt | $60.7M | $31.2M | $30.7M | $27.3M | $2.4M | $2.6M |
| Net cash (debt) | $1.35B | $901.6M | $1.00B | $1.03B | $1.30B | $443.3M |
| Working capital | $1.39B | $921.5M | $1.01B | $1.05B | $1.30B | $443.2M |
| Tangible book value | $1.30B | $889.9M | $1.01B | $1.14B | $1.29B | −$283.2M |
| Book value per share | $1.71 | $1.30 | $1.60 | $1.99 | $2.23 | −$0.47 |
| Shares outstanding | 826.2M | 699.8M | 647.9M | 585.5M | 591.5M | 603.9M |
| Current ratio | 24.09 | 20.14 | 23.39 | 35.90 | 95.22 | 56.36 |
| Quick ratio | 23.58 | 19.71 | 22.97 | 35.12 | 93.96 | 55.98 |
| Debt / equity | 0.04 | 0.03 | 0.03 | 0.02 | 0.00 | — |
| Equity / assets | 78.5% | 75.8% | 81.5% | 90.1% | 88.5% | −56.9% |
| 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 | $2.26B | $2.47B | $1.41B | $978.1M | $991.0M | $812.5M | $932.9M | $710.0M | $825.0M | $923.9M | $1.03B | $1.11B |
| Cash & equivalents | $629.9M | $874.5M | $241.0M | $208.4M | $336.3M | $122.3M | $199.6M | $152.3M | $175.1M | $110.5M | $204.0M | $480.4M |
| Short-term investments | $1.63B | $1.59B | $1.17B | $769.8M | $654.7M | $690.2M | $733.2M | $557.7M | $649.9M | $813.3M | $828.2M | $632.1M |
| Receivables | $12.4M | $11.5M | $7.1M | $10.4M | $3.6M | $9.8M | $16.0M | $10.4M | $13.3M | $6.9M | $4.7M | $6.9M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $14.9M |
| Other current assets | $40.0M | $33.9M | $30.5M | $30.0M | $19.9M | $19.2M | $20.7M | $17.4M | $19.4M | $20.9M | $18.8M | $3.9M |
| Total current assets | $2.32B | $2.51B | $1.45B | $1.02B | $1.01B | $841.5M | $969.6M | $737.8M | $857.7M | $951.7M | $1.06B | $1.14B |
| Property, plant & equipment (net) | $260.7M | $242.9M | $178.4M | $173.8M | $163.3M | $158.8M | $149.6M | $141.2M | $133.5M | $132.2M | $131.7M | $128.1M |
| Goodwill & intangible assets | $107.5M | $109.7M | $108.3M | $111.4M | $20.0M | $21.2M | $22.4M | $23.9M | $25.3M | $19.0M | $20.6M | $22.0M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $67.6M | $63.4M | $62.6M | $62.5M | $62.0M | $62.5M | $61.8M | $61.4M | $61.4M | $61.4M | $61.4M | $61.3M |
| Total assets | $2.75B | $2.93B | $1.80B | $1.37B | $1.26B | $1.08B | $1.20B | $964.3M | $1.08B | $1.16B | $1.27B | $1.35B |
| Liabilities | ||||||||||||
| Accounts payable | $8.3M | $7.9M | $3.6M | $13.4M | $4.5M | $4.9M | $4.3M | $4.9M | $5.3M | $3.7M | $3.0M | $4.8M |
| Short-term debt | $9.0M | $9.0M | $8.4M | $10.6M | $5.6M | $5.4M | $5.0M | $4.8M | $4.7M | $4.5M | $4.3M | $4.0M |
| Deferred revenue | — | — | — | $6.0M | $6.0M | $6.3M | $5.2M | — | $3.6M | $3.2M | $2.5M | — |
| Total current liabilities | $128.9M | $113.9M | $60.0M | $74.9M | $58.9M | $47.5M | $48.1M | $45.8M | $43.2M | $38.2M | $45.1M | $50.0M |
| Long-term debt | $701.9M | $701.1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $45.8M | $46.7M | $36.8M | $45.6M | $30.9M | $31.6M | $31.2M | $31.7M | $30.1M | $31.0M | $30.7M | $30.0M |
| Other long-term liabilities | $154.7M | $155.0M | $325.3M | $395.0M | $302.7M | $177.1M | $243.0M | $137.5M | $140.1M | $151.0M | $189.9M | $190.3M |
| Total liabilities | $985.5M | $969.9M | $385.4M | $469.9M | $361.6M | $224.6M | $291.1M | $183.2M | $183.2M | $189.2M | $235.1M | $240.3M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $99,000 | $98,000 | $91,000 | $87,000 | $85,000 | $79,000 | $78,000 | $71,000 | $71,000 | $70,000 | $70,000 | $69,000 |
| Retained earnings (deficit) | −$3.14B | −$2.90B | −$2.79B | −$2.66B | −$2.26B | −$1.94B | −$1.86B | −$1.61B | −$1.47B | −$1.34B | −$1.25B | −$1.13B |
| Accumulated other comprehensive income | −$6.1M | −$3.2M | $1.5M | $618,000 | −$554,000 | −$672,000 | −$583,000 | $677,000 | −$2.0M | −$1.6M | −$480,000 | −$2.8M |
| Total shareholders' equity | $1.77B | $1.96B | $1.41B | $896.5M | $898.3M | $859.4M | $912.4M | $781.0M | $894.6M | $975.1M | $1.03B | $1.11B |
| Key figures | ||||||||||||
| Total debt | $735.4M | $735.6M | $60.7M | $45.6M | $30.9M | $31.6M | $31.2M | $31.7M | $30.1M | $31.0M | $30.7M | $30.0M |
| Net cash (debt) | $1.53B | $1.73B | $1.35B | $932.5M | $960.1M | $780.9M | $901.6M | $678.3M | $794.9M | $892.9M | $1.00B | $1.08B |
| Working capital | $2.19B | $2.40B | $1.39B | $943.7M | $955.6M | $794.0M | $921.5M | $692.0M | $814.5M | $913.5M | $1.01B | $1.09B |
| Tangible book value | $1.66B | $1.85B | $1.30B | $785.1M | $878.3M | $838.2M | $889.9M | $757.2M | $869.3M | $956.1M | $1.01B | $1.09B |
| Book value per share | $1.82 | $2.07 | $1.58 | $1.06 | $1.13 | $1.12 | $1.25 | $1.12 | $1.30 | $1.43 | $1.48 | $1.60 |
| Shares outstanding | 969.9M | 943.5M | 894.6M | 844.6M | 796.8M | 766.9M | 732.8M | 695.0M | 689.3M | 681.7M | 698.3M | 691.5M |
| Current ratio | 17.98 | 22.05 | 24.09 | 13.61 | 17.23 | 17.72 | 20.14 | 16.12 | 19.87 | 24.89 | 23.39 | 22.78 |
| Quick ratio | 17.66 | 21.76 | 23.58 | 13.21 | 16.89 | 17.31 | 19.71 | 15.74 | 19.42 | 24.34 | 22.97 | 22.40 |
| Debt / equity | 0.42 | 0.38 | 0.04 | 0.05 | 0.03 | 0.04 | 0.03 | 0.04 | 0.03 | 0.03 | 0.03 | 0.03 |
| Equity / assets | 64.2% | 66.9% | 78.5% | 65.6% | 71.3% | 79.3% | 75.8% | 81.0% | 83.0% | 83.7% | 81.5% | 82.2% |
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.
JOBY financial position
At the end of fiscal 2025 (December 31, 2025), Joby Aviation had total assets of $1.8 billion (up 49.2% from a year earlier), total liabilities of $385.4 million and shareholders' equity of $1.4 billion. It held $1.4 billion in cash and short-term investments against $60.7 million of debt, a net cash position of $1.3 billion. Its current ratio was 24.09. In the latest quarter (ended June 30, 2026) total assets were $2.8 billion and equity $1.8 billion.
Related: JOBY income statement, JOBY cash flow statement, JOBY key metrics. See the JOBY stock overview for the latest quote and news.
JOBY balance sheet FAQ
What are Joby Aviation's total assets?
Joby Aviation reported total assets of $1.8 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.2 billion a year earlier.
How much debt does Joby Aviation have?
Joby Aviation had $60.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.04.
How much cash does Joby Aviation have?
Joby Aviation held $1.4 billion in cash and short-term investments at the end of fiscal 2025; with $60.7 million of debt that is net cash of $1.3 billion.
What is Joby Aviation's book value?
Joby Aviation's shareholders' equity (book value) was $1.4 billion at the end of fiscal 2025, or $1.71 per share.
What is Joby Aviation's current ratio?
Joby Aviation had current assets of $1.4 billion and current liabilities of $60.0 million, a current ratio of 24.09 (it can cover its short-term obligations).
How much goodwill does Joby Aviation have?
Joby Aviation carried $108.3 million of goodwill and intangible assets, 6.0% of total assets, at the end of fiscal 2025.