KinderCare Learning Companies, Inc. (KLC) Balance Sheet
KLC balance sheet, 2025
December 31, 2025 · U.S. dollars$3.75B assets = $2.99B liabilities + $755.3M equity
Both columns are drawn to the same scale: what KLC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
KLC financial health
Descriptive bands, not a rating. Fiscal 2025.
KLC balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $3.30B2019 | $3.75B2025 | +2.1%/yr | |
| Total liabilities | $3.06B2019 | $2.99B2025 | −0.4%/yr | |
| Shareholders’ equity | $238.5M2019 | $755.3M2025 | +21.2%/yr | |
| Cash & short-term investments | $40.3M2019 | $133.2M2025 | +22.0%/yr | |
| Total debt | $2.75B2019 | $2.53B2025 | −1.4%/yr | |
| Net cash (debt) | −$2.71B2019 | −$2.39B2025 | +$316.5M | |
| Working capital | −$220.2M2019 | −$126.8M2025 | +$93.4M | |
| Book value per share | $2.092019 | $6.382025 | +20.5%/yr | |
| Current ratio | 0.362019 | 0.742025 | +0.38 | |
| Debt / equity | 11.532019 | 3.342025 | −8.18 | |
| Shares outstanding | 114.4M2019 | 118.3M2025 | +0.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
KLC assets
KLC liabilities and equity
KLC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
KLC balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $133.2M | $62.3M | $156.1M | $105.2M | $177.2M | $53.2M | $40.3M |
| Cash & equivalents | $133.2M | $62.3M | $156.1M | $105.2M | $177.2M | $53.2M | $40.3M |
| Receivables | $167.9M | $117.4M | $95.2M | $94.3M | $95.5M | $61.1M | $66.8M |
| Inventory | $0 | $0 | $27.1M | $30.2M | $30.0M | $20.4M | $0 |
| Other current assets | $56.9M | $35.1M | $5.0M | $3.9M | $1.5M | $1.9M | $14.3M |
| Total current assets | $358.0M | $214.8M | $283.4M | $233.5M | $304.2M | $136.7M | $121.5M |
| Property, plant & equipment (net) | $1.92B | $1.80B | $1.75B | $1.82B | $1.70B | $1.67B | $1.72B |
| Goodwill & intangible assets | $1.39B | $1.55B | $1.55B | $1.55B | $1.43B | $1.42B | $1.44B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $82.2M | $85.1M | $66.6M | $57.8M | $37.3M | $32.5M | $24.6M |
| Total assets | $3.75B | $3.65B | $3.65B | $3.66B | $3.47B | $3.27B | $3.30B |
| Liabilities | |||||||
| Accounts payable | $48.9M | $45.3M | $50.6M | $56.7M | $47.9M | $39.7M | $30.7M |
| Short-term debt | $157.2M | $153.9M | $148.4M | $153.4M | $151.5M | $136.9M | $141.7M |
| Deferred revenue | $58.0M | $33.8M | $43.9M | $52.6M | $46.7M | $39.6M | $24.1M |
| Total current liabilities | $484.9M | $412.8M | $426.5M | $410.2M | $380.2M | $330.4M | $341.7M |
| Long-term debt | $920.7M | $922.9M | $1.24B | $1.35B | $1.38B | $1.38B | $0 |
| Lease obligations | $1.60B | $1.47B | $1.44B | $1.50B | $1.49B | $1.46B | — |
| Other long-term liabilities | $1.59B | $1.45B | $1.48B | $1.50B | $1.46B | $1.42B | $2.72B |
| Total liabilities | $2.99B | $2.78B | $3.15B | $3.26B | $3.21B | $3.13B | $3.06B |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $1.2M | $1.2M | $904,000 | $76,000 | $454.2M | $430.1M | $403.6M |
| Retained earnings (deficit) | −$82.6M | $30.3M | $123.1M | $20.5M | −$198.6M | −$287.0M | −$157.5M |
| Accumulated other comprehensive income | −$4.6M | $2.7M | −$313,000 | −$2.0M | $454.2M | −$6.7M | −$7.5M |
| Total shareholders' equity | $755.3M | $864.5M | $506.9M | $407.7M | $255.6M | $136.3M | $238.5M |
| Key figures | |||||||
| Total debt | $2.53B | $2.39B | $2.69B | $2.86B | $2.89B | $2.85B | $2.75B |
| Net cash (debt) | −$2.39B | −$2.33B | −$2.54B | −$2.75B | −$2.71B | −$2.80B | −$2.71B |
| Working capital | −$126.8M | −$198.0M | −$143.1M | −$176.7M | −$76.0M | −$193.7M | −$220.2M |
| Tangible book value | −$630.5M | −$685.0M | −$1.04B | −$1.14B | −$1.17B | −$1.29B | −$1.20B |
| Book value per share | $6.38 | $8.98 | $4.43 | $3.56 | $2.23 | $1.19 | $2.09 |
| Shares outstanding | 118.3M | 96.3M | 114.4M | 114.4M | 114.4M | 114.4M | 114.4M |
| Current ratio | 0.74 | 0.52 | 0.66 | 0.57 | 0.80 | 0.41 | 0.36 |
| Quick ratio | 0.62 | 0.44 | 0.59 | 0.49 | 0.72 | 0.35 | 0.31 |
| Debt / equity | 3.34 | 2.77 | 5.31 | 7.01 | 11.29 | 20.91 | 11.53 |
| Equity / assets | 20.2% | 23.7% | 13.9% | 11.1% | 7.4% | 4.2% | 7.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & short-term investments | $173.7M | $132.9M | $133.2M | $174.7M | $119.0M | $131.3M | $62.3M | $137.2M | $95.7M | $95.7M | $156.1M |
| Cash & equivalents | $173.7M | $132.9M | $133.2M | $174.7M | $119.0M | $131.3M | $62.3M | $137.2M | $95.7M | $95.7M | $156.1M |
| Short-term investments | — | — | — | — | — | — | — | — | — | $7.4M | — |
| Receivables | $120.3M | $156.5M | $167.9M | $104.9M | $120.5M | $95.9M | $117.4M | $100.9M | $112.6M | $100.3M | $95.2M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $31.8M | $0 | $27.1M |
| Other current assets | $48.0M | $54.6M | $56.9M | $54.4M | $36.8M | $57.5M | $35.1M | $64.7M | $10.8M | $54.9M | $5.0M |
| Total current assets | $342.1M | $344.0M | $358.0M | $334.1M | $276.4M | $284.7M | $214.8M | $302.8M | $250.9M | $250.9M | $283.4M |
| Property, plant & equipment (net) | $1.87B | $1.91B | $1.92B | $1.91B | $1.87B | $1.80B | $1.80B | $1.79B | $1.79B | $1.79B | $1.75B |
| Goodwill & intangible assets | $1.11B | $1.11B | $1.39B | $1.56B | $1.56B | $1.55B | $1.55B | $1.55B | $1.55B | $1.55B | $1.55B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $86.3M | $81.8M | $82.2M | $83.8M | $81.0M | $81.0M | $85.1M | $82.7M | $74.2M | $74.2M | $66.6M |
| Total assets | $3.40B | $3.44B | $3.75B | $3.88B | $3.79B | $3.72B | $3.65B | $3.72B | $3.67B | $3.67B | $3.65B |
| Liabilities | |||||||||||
| Accounts payable | $174.8M | $154.2M | $48.9M | $198.2M | $173.5M | $183.6M | $45.3M | $66.3M | $156.2M | $156.2M | $50.6M |
| Short-term debt | $173.6M | $159.4M | $157.2M | $174.5M | $158.5M | $159.6M | $153.9M | $160.6M | $159.1M | $159.1M | $148.4M |
| Deferred revenue | $54.9M | $50.4M | $58.0M | $29.5M | $38.4M | $30.6M | $33.8M | $28.2M | $34.8M | $34.8M | $43.9M |
| Total current liabilities | $459.1M | $468.0M | $484.9M | $469.5M | $420.2M | $470.4M | $412.8M | $504.5M | $442.8M | $442.8M | $426.5M |
| Long-term debt | $916.1M | $917.0M | $917.9M | $923.5M | $919.2M | $920.3M | $918.7M | $1.50B | $1.49B | $0 | $1.24B |
| Lease obligations | $1.59B | $1.60B | $1.60B | $1.59B | $1.54B | $1.47B | $1.47B | $1.46B | $1.48B | — | $1.44B |
| Other long-term liabilities | $1.56B | $1.59B | $1.59B | $1.56B | $1.53B | $1.44B | $1.45B | $1.48B | $1.49B | $2.99B | $1.48B |
| Total liabilities | $2.94B | $2.97B | $2.99B | $2.95B | $2.87B | $2.83B | $2.78B | $3.49B | $3.43B | $3.43B | $3.15B |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | $1.2M | $1.2M | $1.2M | $1.2M | $1.2M | $1.2M | $1.2M | $904,000 | $76,000 | $76,000 | $904,000 |
| Retained earnings (deficit) | −$381.2M | −$372.5M | −$82.6M | $94.6M | $90.0M | $51.4M | $30.3M | $163.8M | $149.9M | $149.9M | $123.1M |
| Accumulated other comprehensive income | $891,000 | −$1.4M | −$4.6M | −$4.2M | −$3.8M | −$1.7M | $2.7M | −$6.6M | $7.8M | $7.8M | −$313,000 |
| Total shareholders' equity | $466.2M | $471.1M | $755.3M | $931.2M | $924.3M | $884.9M | $864.5M | $235.6M | $237.4M | $237.4M | $506.9M |
| Key figures | |||||||||||
| Total debt | $2.51B | $2.53B | $2.53B | $2.52B | $2.47B | $2.40B | $2.39B | $2.97B | $2.99B | $2.99B | $2.69B |
| Net cash (debt) | −$2.34B | −$2.40B | −$2.39B | −$2.34B | −$2.35B | −$2.27B | −$2.33B | −$2.83B | −$2.89B | −$2.89B | −$2.54B |
| Working capital | −$117.1M | −$124.0M | −$126.8M | −$135.4M | −$143.9M | −$185.7M | −$198.0M | −$201.7M | −$191.9M | −$191.9M | −$143.1M |
| Tangible book value | −$643.0M | −$639.7M | −$630.5M | −$629.0M | −$634.3M | −$669.0M | −$685.0M | −$1.32B | −$1.32B | −$1.32B | −$1.04B |
| Book value per share | $3.92 | $3.98 | $6.38 | $7.86 | $7.81 | $7.48 | $7.57 | $2.00 | — | $2.08 | $4.43 |
| Shares outstanding | 118.8M | 118.5M | 118.4M | 118.4M | 118.4M | 118.3M | 114.1M | 118.0M | — | 114.4M | 114.4M |
| Current ratio | 0.75 | 0.73 | 0.74 | 0.71 | 0.66 | 0.61 | 0.52 | 0.60 | 0.57 | 0.57 | 0.66 |
| Quick ratio | 0.64 | 0.62 | 0.62 | 0.60 | 0.57 | 0.48 | 0.44 | 0.47 | 0.47 | 0.44 | 0.59 |
| Debt / equity | 5.39 | 5.37 | 3.34 | 2.70 | 2.67 | 2.71 | 2.77 | 12.62 | 12.59 | 12.59 | 5.31 |
| Equity / assets | 13.7% | 13.7% | 20.2% | 24.0% | 24.4% | 23.8% | 23.7% | 6.3% | 6.5% | 6.5% | 13.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 13, 2026); data from EODHD.
KLC financial position
At the end of fiscal 2025 (December 31, 2025), KinderCare Learning had total assets of $3.7 billion (up 2.8% from a year earlier), total liabilities of $3.0 billion and shareholders' equity of $755.3 million. It held $133.2 million in cash and short-term investments against $2.5 billion of debt, net debt of $2.4 billion. Its current ratio was 0.74. In the latest quarter (ended June 30, 2026) total assets were $3.4 billion and equity $466.2 million.
Related: KLC income statement, KLC cash flow statement, KLC key metrics. See the KLC stock overview for the latest quote and news.
KLC balance sheet FAQ
What are KinderCare Learning's total assets?
KinderCare Learning reported total assets of $3.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $3.6 billion a year earlier.
How much debt does KinderCare Learning have?
KinderCare Learning had $2.5 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 3.34.
How much cash does KinderCare Learning have?
KinderCare Learning held $133.2 million in cash and short-term investments at the end of fiscal 2025; with $2.5 billion of debt that is net debt of $2.4 billion.
What is KinderCare Learning's book value?
KinderCare Learning's shareholders' equity (book value) was $755.3 million at the end of fiscal 2025, or $6.38 per share.
What is KinderCare Learning's current ratio?
KinderCare Learning had current assets of $358.0 million and current liabilities of $484.9 million, a current ratio of 0.74 (current liabilities exceed current assets).
How much goodwill does KinderCare Learning have?
KinderCare Learning carried $1.4 billion of goodwill and intangible assets, 37.0% of total assets, at the end of fiscal 2025.