KNOT Offshore Partners LP (KNOP) Balance Sheet
KNOP balance sheet, 2025
December 31, 2025 · U.S. dollars$1.68B assets = $1.06B liabilities + $621.0M equity
Both columns are drawn to the same scale: what KNOP owns equals what it owes plus shareholders’ equity. Hover a block for its value.
KNOP financial health
Descriptive bands, not a rating. Fiscal 2025.
KNOP balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.29B2016 | $1.68B2025 | +3.0%/yr | |
| Total liabilities | $770.6M2016 | $1.06B2025 | +3.6%/yr | |
| Shareholders’ equity | $4,0002016 | $621.0M2025 | +277.4%/yr | |
| Cash & short-term investments | $27.7M2016 | $89.0M2025 | +13.9%/yr | |
| Total debt | $741.6M2016 | $956.0M2025 | +2.9%/yr | |
| Net cash (debt) | −$714.0M2016 | −$867.0M2025 | −$153.0M | |
| Working capital | −$46.6M2016 | −$315.5M2025 | −$268.9M | |
| Book value per share | $0.002016 | $18.312025 | +268.2%/yr | |
| Current ratio | 0.402016 | 0.262025 | −0.14 | |
| Debt / equity | 185,411.502016 | 1.542025 | −185409.96 | |
| Shares outstanding | 27.2M2016 | 33.9M2025 | +2.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
KNOP assets
KNOP liabilities and equity
KNOP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
KNOP balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $89.0M | $66.9M | $63.9M | $47.6M | $62.3M | $52.6M | $43.5M | $41.7M | $46.1M | $27.7M |
| Cash & equivalents | $89.0M | $66.9M | $63.9M | $47.6M | $62.3M | $52.6M | $43.5M | $41.7M | $46.1M | $27.7M |
| Short-term investments | — | — | — | — | — | — | $674,000 | $4.6M | $1.6M | — |
| Receivables | $14.4M | $15.5M | $7.6M | $10.9M | $2.7M | $5.7M | $5.1M | $2.8M | $571,000 | $150,000 |
| Inventory | $4.3M | $3.3M | $3.7M | $5.8M | $3.3M | $2.7M | $2.3M | $2.4M | $2.2M | $1.2M |
| Other current assets | $3.8M | $9.6M | $14.6M | $21.7M | $5.6M | $5.5M | $1.9M | $5.4M | $7.2M | $2.1M |
| Total current assets | $111.4M | $95.4M | $89.8M | $85.9M | $73.9M | $66.5M | $52.8M | $52.4M | $56.1M | $31.1M |
| Property, plant & equipment (net) | $1.56B | $1.46B | $1.50B | $1.63B | $1.60B | $1.71B | $1.68B | $1.77B | $1.72B | $1.26B |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $75,000 | $681,000 | $1.3M | $1.9M | $2.5M | −$1.5M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $648,000 | $11.7M | $9.8M | $3.2M |
| Other non-current assets | $15.5M | $13.3M | $11.6M | $14.4M | $2.5M | $2.9M | $4.0M | $3.8M | $1.7M | $2.7M |
| Total assets | $1.68B | $1.57B | $1.60B | $1.73B | $1.68B | $1.78B | $1.74B | $1.84B | $1.79B | $1.29B |
| Liabilities | ||||||||||
| Accounts payable | $9.6M | $5.8M | $10.2M | $4.3M | $3.9M | $3.8M | $2.7M | $4.8M | $5.2M | $2.2M |
| Short-term debt | $381.9M | $257.8M | $99.9M | $371.2M | $89.2M | $185.5M | $84.0M | $106.9M | $93.0M | $59.0M |
| Deferred revenue | $14.7M | $10.2M | $467,000 | $2.2M | $7.7M | $6.9M | $1.5M | $7.3M | $11.5M | $8.7M |
| Total current liabilities | $426.9M | $287.1M | $127.6M | $390.0M | $116.0M | $213.9M | $104.0M | $128.4M | $122.8M | $77.6M |
| Long-term debt | $574.0M | $648.1M | $857.8M | $686.6M | $878.5M | $846.2M | $911.9M | $970.4M | $933.6M | $682.7M |
| Lease obligations | $875,000 | $1.3M | $2.1M | $2.3M | $2.7M | $1.5M | $1.8M | — | — | — |
| Other long-term liabilities | $63.0M | $25.8M | $3.6M | $5.1M | $9.8M | $22.7M | $10.4M | $6.0M | $7.5M | $10.3M |
| Total liabilities | $1.06B | $961.0M | $989.0M | $1.08B | $1.00B | $1.08B | $1.03B | $1.10B | $1.06B | $770.6M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $536.7M | $526.8M | $523.2M | $567.9M | $588.7M | $608.3M | $622.4M | $642.8M | $640.0M | $521.7M |
| Retained earnings (deficit) | — | — | — | — | — | — | — | −$1.10B | −$729.2M | — |
| Accumulated other comprehensive income | — | — | — | — | — | — | −$451.5M | −$363.3M | −$280.3M | $4,000 |
| Total shareholders' equity | $621.0M | $611.1M | $607.5M | $652.2M | $673.0M | $697.5M | $711.7M | −$363.3M | $673.1M | $4,000 |
| Key figures | ||||||||||
| Total debt | $956.0M | $906.0M | $958.9M | $1.06B | $969.9M | $1.03B | $997.2M | $1.08B | $1.03B | $741.6M |
| Net cash (debt) | −$867.0M | −$839.1M | −$895.0M | −$1.01B | −$907.6M | −$979.3M | −$953.7M | −$1.04B | −$980.5M | −$714.0M |
| Working capital | −$315.5M | −$191.8M | −$37.8M | −$304.1M | −$42.1M | −$147.5M | −$51.2M | −$76.0M | −$66.7M | −$46.6M |
| Tangible book value | $621.0M | $611.1M | $607.5M | $652.2M | $672.9M | $696.9M | $710.4M | −$365.2M | $670.6M | $1.5M |
| Book value per share | $18.31 | $17.82 | $15.45 | $17.01 | $18.06 | $21.34 | $21.77 | −$11.11 | $22.39 | $0.00 |
| Shares outstanding | 33.9M | 34.3M | 39.3M | 38.3M | 37.3M | 32.7M | 32.7M | 32.7M | 30.1M | 27.2M |
| Current ratio | 0.26 | 0.33 | 0.70 | 0.22 | 0.64 | 0.31 | 0.51 | 0.41 | 0.46 | 0.40 |
| Quick ratio | 0.24 | 0.29 | 0.56 | 0.15 | 0.56 | 0.27 | 0.47 | 0.35 | 0.38 | 0.36 |
| Debt / equity | 1.54 | 1.48 | 1.58 | 1.62 | 1.44 | 1.48 | 1.40 | — | 1.53 | 185,411.50 |
| Equity / assets | 36.9% | 38.9% | 38.1% | 37.6% | 40.1% | 39.2% | 40.9% | −19.8% | 37.5% | 0.0% |
| 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 | $95.3M | $92.7M | $89.0M | $77.2M | $66.3M | $67.3M | $66.9M | $67.2M | $56.6M | $50.2M | $63.9M | $53.2M |
| Cash & equivalents | $95.3M | $92.7M | $89.0M | $77.2M | $66.3M | $67.3M | $66.9M | $67.2M | $56.6M | $50.2M | $63.9M | $53.2M |
| Short-term investments | — | — | — | — | — | — | — | — | $12.6M | — | — | — |
| Receivables | $153,000 | $331,999 | $705,000 | $3.7M | $10.6M | $2.1M | $15.5M | $1.9M | $784,000 | $1.2M | $348,000 | $1.2M |
| Inventory | $4.6M | $4.2M | $4.3M | $4.0M | $3.6M | $4.2M | $3.3M | $3.8M | $3.7M | $4.3M | $3.7M | $3.1M |
| Other current assets | $24.9M | $24.6M | $17.5M | $17.2M | $14.2M | $25.9M | $9.6M | $18.9M | $23.3M | $25.1M | $21.8M | $22.9M |
| Total current assets | $124.9M | $121.8M | $111.4M | $102.1M | $94.6M | $99.5M | $95.4M | $91.8M | $84.4M | $80.8M | $89.8M | $80.4M |
| Property, plant & equipment (net) | $1.49B | $1.52B | $1.56B | $1.61B | $1.52B | $1.54B | $1.46B | $1.49B | $1.42B | $1.47B | $1.50B | $1.52B |
| 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 | $25.3M | $17.5M | $15.5M | $14.0M | $13.0M | $12.5M | $13.3M | $10.7M | $10.2M | $11.7M | $11.6M | $19.2M |
| Total assets | $1.64B | $1.66B | $1.68B | $1.72B | $1.62B | $1.65B | $1.57B | $1.59B | $1.52B | $1.56B | $1.60B | $1.62B |
| Liabilities | ||||||||||||
| Accounts payable | $8.7M | $10.6M | $9.6M | $7.0M | $5.8M | $8.0M | $5.8M | $6.3M | $5.5M | $6.7M | $10.2M | $6.0M |
| Short-term debt | $314.2M | $428.8M | $381.9M | $325.2M | $181.0M | $250.4M | $257.8M | $176.1M | $90.3M | $90.2M | $152.8M | $157.7M |
| Deferred revenue | $9.0M | $12.9M | $9.0M | $10.9M | $5.5M | $10.8M | $10.2M | $7.3M | $2.4M | $467,000 | $44,001 | $467,000 |
| Total current liabilities | $367.1M | $481.1M | $426.9M | $367.7M | $219.1M | $290.1M | $287.1M | $209.9M | $111.7M | $113.6M | $180.4M | $176.6M |
| Long-term debt | $588.7M | $500.9M | $574.0M | $657.5M | $735.4M | $694.8M | $648.1M | $766.9M | $806.2M | $830.5M | $857.8M | $820.5M |
| Lease obligations | $675,000 | $776,000 | $875,000 | $1.4M | $3.9M | $4.1M | $1.3M | $1.6M | $1.7M | $2.0M | $2.1M | $2.2M |
| Other long-term liabilities | $62.8M | $60.0M | $63.0M | $66.0M | $49.3M | $50.4M | $25.8M | $27.3M | $2.9M | $3.3M | $0 | $3.9M |
| Total liabilities | $1.02B | $1.04B | $1.06B | $1.09B | $1.00B | $1.04B | $961.0M | $1.00B | $920.8M | $947.4M | $989.0M | $1.00B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $527.1M | $527.1M | $536.7M | $537.1M | $526.5M | $531.8M | $526.8M | $506.2M | $512.6M | $528.0M | $523.2M | $531.1M |
| Total shareholders' equity | $611.4M | $611.4M | $621.0M | $621.4M | $610.8M | $616.1M | $611.1M | $590.5M | $596.9M | $612.3M | $607.5M | $615.4M |
| Key figures | ||||||||||||
| Total debt | $903.2M | $929.6M | $956.0M | $983.6M | $918.3M | $948.4M | $906.0M | $943.3M | $897.1M | $921.6M | $958.9M | $979.5M |
| Net cash (debt) | −$807.9M | −$837.0M | −$867.0M | −$906.4M | −$852.0M | −$881.1M | −$839.1M | −$876.1M | −$840.5M | −$871.4M | −$895.0M | −$926.3M |
| Working capital | −$242.2M | −$359.4M | −$315.5M | −$265.6M | −$124.5M | −$190.7M | −$191.8M | −$118.1M | −$27.3M | −$32.8M | −$90.6M | −$96.2M |
| Tangible book value | $611.4M | $611.4M | $621.0M | $621.4M | $610.8M | $616.1M | $611.1M | $590.5M | $596.9M | $612.3M | $607.5M | $615.4M |
| Book value per share | $18.03 | $18.03 | $18.43 | $18.20 | $17.81 | $17.64 | $17.82 | $17.34 | $17.53 | $17.85 | $17.84 | $18.07 |
| Shares outstanding | 33.9M | 33.9M | 33.7M | 34.2M | 34.3M | 34.9M | 34.3M | 34.0M | 34.0M | 34.3M | 34.0M | 34.0M |
| Current ratio | 0.34 | 0.25 | 0.26 | 0.28 | 0.43 | 0.34 | 0.33 | 0.44 | 0.76 | 0.71 | 0.50 | 0.46 |
| Quick ratio | 0.26 | 0.19 | 0.21 | 0.22 | 0.35 | 0.24 | 0.29 | 0.33 | 0.51 | 0.45 | 0.36 | 0.31 |
| Debt / equity | 1.48 | 1.52 | 1.54 | 1.58 | 1.50 | 1.54 | 1.48 | 1.60 | 1.50 | 1.51 | 1.58 | 1.59 |
| Equity / assets | 37.3% | 36.8% | 36.9% | 36.1% | 37.6% | 37.3% | 38.9% | 37.0% | 39.3% | 39.3% | 38.1% | 38.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 17, 2026); data from EODHD.
KNOP financial position
At the end of fiscal 2025 (December 31, 2025), KNOT Offshore Partners had total assets of $1.7 billion (up 7.2% from a year earlier), total liabilities of $1.1 billion and shareholders' equity of $621.0 million. It held $89.0 million in cash and short-term investments against $956.0 million of debt, net debt of $867.0 million. Its current ratio was 0.26. In the latest quarter (ended June 30, 2026) total assets were $1.6 billion and equity $611.4 million.
Related: KNOP income statement, KNOP cash flow statement, KNOP key metrics. See the KNOP stock overview for the latest quote and news.
KNOP balance sheet FAQ
What are KNOT Offshore Partners's total assets?
KNOT Offshore Partners reported total assets of $1.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.6 billion a year earlier.
How much debt does KNOT Offshore Partners have?
KNOT Offshore Partners had $956.0 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.54.
How much cash does KNOT Offshore Partners have?
KNOT Offshore Partners held $89.0 million in cash and short-term investments at the end of fiscal 2025; with $956.0 million of debt that is net debt of $867.0 million.
What is KNOT Offshore Partners's book value?
KNOT Offshore Partners's shareholders' equity (book value) was $621.0 million at the end of fiscal 2025, or $18.31 per share.
What is KNOT Offshore Partners's current ratio?
KNOT Offshore Partners had current assets of $111.4 million and current liabilities of $426.9 million, a current ratio of 0.26 (current liabilities exceed current assets).